Resolve Not To Resolve

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2010 is in the rear view mirror. 2011 staring us right in the face. While the 2010 Hoboken Real Estate report will be out on the 15th, many of us are scheming on how to improve, out perform, and hope to do better than last year.

First things first…NO RESOLUTIONS! Resolutions are for people who have dreams with no realistinc hope of accomplishment. Buy a lottery ticket. Atleast there is a chance.

If you resolve to buy a house in 2011, have a plan. It might look like this.

1) Speak to a mortgage person to understand my credit, my borrowing capability, down payment requirements, anticipated closing costs and potential problems that can be addressed in the near term.

2) Speak with a realtor who can give me a sense as to the timing of a purchase and what types of properties fit within my price range.

3) Assuming that I am in a position to purchase, start looking for appropriate homes.

Not…I am going to look at homes and hope I can afford something that I like. Those who can afford it already know.

How about a plan for selling a home? There is more hope than plan on this side of the market. Hope that prices rebound. Hope that my overpriced home will sell. Hope that a buyer will look past the needed renovations. ugh.

If one truly resolves to sell their home in 2011, be prepared for a price war and a beauty contest. You will sell it for less than you think. But with a plan going in, you will know why. Perhaps you want a bigger home. Perhaps a home in a different town. Take your medicine now.

Gotta go. Off to the gym. I resolved to lose weight this year…..maybe I’ll just go to the barber instead.

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