According to the “Pending Home Sales Index” pending sales climbed in November showing an increase of 5.9 percent above November 2010 reaching the highest level in 19 months, according to the National Association of Realtors. The index has not been higher than it was in April 2010 when buyers rushed to beat the deadline for the home buyer tax credit.

With the low interest rates and prices that have dropped considerably it has brought along some motivation for those buyers who have been sitting on the fence and encouraged many to seek pre-qualification and many first time home buyers to look seriously at buying a home while the market is affordable. Many are hopeful and see that home sales may continue to climb over the months ahead.

The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

Many are hopeful that home prices will begin to stabilize in 2012 and home sales will continue to rise. Many are also seeing some economic changes which may affect interest rates. Some are saying that they will remain low over the next year or so but it is one of those things that anything can happen and they change overnight. If you have been hesitating on buying a home or are considering a new home purchase, I do recommend that you pay close attention to the interest rates this year and buy before they begin to increase. The amazingly low interest rates have been a great motivating factor in assisting home buyers with affordability and an opportunity to buy a home that they may not have otherwise been able to afford. If interest rates begin to climb back up I recommend that you are ready and take advantage of them while they remain low.

According to the New York times, beginning on January 25, the Federal Reserve will start to publish a forecast four times a year which will include predictions in regards to of short-term interest rates. Expectations for the length of time that they expect for the interest rates to remain at the predicted levels will also be published.

This is my recommendation to those considering buying in 2012. Keep an eye on interest rates, get pre-qualified, be prepared and educated on prices in your market place. Be a smart buyer, enjoy your search and make it a rewarding purchase.

Buying a property requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. It helps to have an expert in your corner when undertaking such a large purchase. I can guide you through this process.

Here are some factors to consider when choosing your real estate professional:

1. Look for a full-time agent – one who has experience completing transactions similar to yours.
2. Knowledge: Are they familiar with the market in which you are interested?
3. Ask how much time the agent will have for you, and if they are available at night and on weekends.
4. Ask about their credentials and education: A good agent will continually strive to improve and gain knowledge of the latest real estate trends.
5. Does the agent return your calls promptly? Time is money when attempting to buy a property.
6. Ask for a list of properties they have sold or a list of references.
7. Choose an agent who listens attentively to your needs and concerns. Pick an agent, with whom you feel comfortable.
   I believe in an innovative approach to real estate. When it comes to purchasing your first home, or selling your existing property, there are a few things you NEED to have from any real estate professional you choose to hire.

Again, the following is what I would expect and so should my clients:

1. You need someone who will think outside of the box to get the deal done.
2. A problem solver and someone who is on their toes at all times!
3. Someone trustworthy, dedicated, professional and responsive.
4. Someone that is up to date on all of the new marketing opportunities and advancements.
5. A confident negotiator.
6. Someone who is there for you, before and after the sale.
7. Someone who is working for YOU!