WASHINGTON - The prices of existing and new homes are expected to bounce back next year after a dreary 2007, a real estate trade group said Wednesday.The National Association of Realtors also said it expects existing-home sales to rise to nearly 6.4 million in 2008, up from the 2007 estimate of more than 6.1 million. Nearly 6.5 million existing homes were sold in 2006, the association said.As for new homes, sales are projected at 865,000 in 2007 and 878,000 next year, but the 2008 projection would still be down more than 20 percent compared with the nearly 1.1 million new homes sold in 2006.Source: Associated Press-----------------------------------------------------The main reason?The law of supply and demand. The number of new constructions fell from 1.1 million in 2006 to a projected... 07/17/2007

Don't wait until you decide to sell your home to start painting and repairing... do it now that you are living and enjoying it.. do it for you and your family.. a buyer always notice when an owner has taken care of his/her home.And you, as a buyer, what made you fall in love with your new home?In a buyer's market, the seller needs to understand that the competition is tougher today than what it was in the recent past. The days when most homes, even without a coat of fresh new paint would get multiple offers are gone. Now the buyer has many options to choose from, and most of the time, either the seller needs to agree with a price reduction or he/she needs to make some investments to repair/update the house in order to competitively position it in the market.These are some ideas:Remodeli... 07/17/2007