ZIPR Ziprealty (MM)

Predictions for the 2009 housing market have not been encouraging: more falling home prices, more foreclosures, tighter lending standards and higher down payment requirements. How can would-be buyers and sellers get the most out of this market? �The good news is, there are bargains to be had, and there is pent up demand from buyers,� says Patrick Lashinsky, President and Chief Executive Officer of Internet-based, full-service residential brokerage ZipRealty (www.ZipRealty.com). �Getting the best deal, or the most money for your home, requires a whole new set of rules.� Lashinsky highlights the top three rules to separate home sellers and buyers from the pack in 2009: SELLERS: PRICE IT RIGHT THE FIRST TIME. Starting at a higher price with the intention of lowering it later could stick your home with a �reduced price� stigma, and automatically exclude it from online searches with set price caps. PICTURES ARE WORTH A THOUSAND SHOWINGS. More buyers than ever are looking online � 87% according to the most recent survey from the National Association of REALTORS�. How your house looks online is as important as how it looks in person. Ensure your online listing stands out by including at least six color photos. BE MOVE-IN READY. Your house is competing against foreclosures and short sales on price, so it will need to stand out for quality. Hire a home inspector to anticipate problems before they arise during escrow, or consider ZipRealty�s 24-Point Certified and Inspected program. FOR BUYERS: GET PREAPPROVED BEFORE YOU START LOOKING. Determining what kind of loan you can realistically get before starting your home search is crucial to ensuring you look only at properties within the right price range � by today�s standards. MAKE AN INFORMED OFFER. Use tools like Offer Evaluator, which help illustrate how much homes are selling for relative to their asking prices, to determine how your offer stacks up before you make one likely to be rejected, and don�t just rely on a single online estimate of a home�s value. Compare estimates from at least three different sources, including a real estate agent. BUY FOR THE LONG TERM. It�s impossible to know exactly when the bottom of the market will hit. You�re probably going to live in the house for many years, so make a decision based on your long-term plans. About ZipRealty, Inc. ZipRealty is a full-service residential real estate brokerage firm. Founded in 1999, the Company operates in 35 major markets in 20 states and the District of Columbia. For more information on ZipRealty, visit www.ziprealty.com or call 1-800-CALL-ZIP.