Local home sales have a long way to go to recover from the national downturn.

But local real estate agents say the market is what you make it.

“2011 was my second best year,” said Annette Caldwell of Re/Max. “It was awesome. I sold a number of houses at really, really good prices.”

Full story is available on thestarpress.com

Time may be running out for homeowners hoping to do a short sale on their home and not get hit with a big federal tax bill because they had time running out – short sale to walk away from their mortgage. The Mortgage Forgiveness Debt Relief Act approved by Congress is scheduled to expire at the end of the year.

The program could be extended by Congressional mandate, but many housing analysts feel the act, passed at the height of the financial crisis won’t be extended. The law eliminates any federal taxes on mortgage debt that lenders cancel or forgive up to $2-million, and currently applies to debt forgiven from 2007 through 2012.

Full story is available on Housing Predictor

Do you fit any of these descriptions?

• You came through the housing bust and recession far more debt-averse than you were before.
• You’ve been reluctant to consider selling your house because you don’t believe you’ll get what it’s really worth.
• Buying a new home is out of the question, even with today’s low interest rates, because it’s so difficult to qualify for a mortgage.

Full story is available on Los Angeles Times

Last summer, when Andy Armstrong and Jennifer Beattie put their Wyckoff house on the market, their yard was lush with shrubs and flowers, highlighting one of the home’s strongest features — its swimming pool, along with a handsome deck. When their first buyer was unable to get a mortgage, they relisted the house and learned about some of the many differences in selling a home in winter.

In fact, each season of the year has its advantages and disadvantages for both buyers and sellers, affecting sales strategies and purchase considerations.

Full story is available on NorthJersey

You’ve heard good real estate agents talk about how to prep your home to get it sold, how the first physical visit by a prospective buyer is actually the “second” showing, if it was marketed correctly on the internet with high quality photos, photos and more photos, how condition of the home is as important as location in today’s market.

So if you’re a seller and you’ve completed this check list, what is the next key element?  That would be: making your home as available as possible for showings to buyers.

Full story is available on Patch

Looking for a simple way to update your home?  You may want to think about paint.

Consumer group Angie’s List offers these tips:

• Popular colors: Earth tones tend to be popular choices for both interior and exterior of the home. However, the exterior tends to be the easiest part to choose a color for because there is less space to cover and fewer outside factors to consider. For the interior, shades of red tend to be the color that homeowners get tired of the most. If you’re weary about red but really want to incorporate it into your home, try a smaller dose of it. Using red for an accent wall or trim instead of as a base color is a more subtle move.

Full story is available on kjrh.com

How Facebook Facebook Latest from The Business Journals San Francisco’s hottest ‘hood? Try TriSoMaWant Facebook shares? You may already own someFamily of Facebook founder, other execs to do well in IPO Follow this company ’s blockbuster IPO will impact Silicon Valley’s housing market is something Realtors, potential home buyers and sellers alike have been paying attention to for months.

This week, I talked to a few Realtors in the area and heard some interesting things about what this mega IPO could mean for folks looking to buy or sell a home. To sum it up, they predict: higher prices, multiple offers, unsolicited offers and crazy demand in already tight markets. Oh, and potential East Bay migration.

Full story is available on bizjournals.com

Seasonal factors play an important role in selling a property, but there are other things to consider as well, such as supply and demand and the uniqueness of the local market conditions. No matter when a home goes to market, one should take a few things into consideration that might affect not just the ability to sell the home, but the ability to get the highest price for the home. Timing is everything!

Buyers are increasingly affected by our seasons and that affects their attitude as to when they purchase their home. In Ontario, we enjoy four distinct and beautiful seasons and these changing seasons play a large part in creating good buying conditions.

Full story is available on Oakville.com

Surprising as this may sound some real estate agents, when trying to show a house to a prospective buyer, can’t even get into the property because the front-door lock doesn’t work properly.

That’s according to Abbey Realty broker Ted Leland, who said he has encountered that problem before, and has included it among a series of tips on a recent mailer to past and potential customers. The tips are directed at those home sellers trying to compete with foreclosures and short sales in this market.

Full story is available on The Olympian

Last week, I met with a couple to discuss their move up plan. They have decided that the time is right to buy a bigger home, but need advice on what to do with their current residence in Los Altos—to rent or to sell.

They’re also concerned, if they do decide to keep their home as a rental, whether they can secure the necessary financing to make that happen.

Full story is available on Patch