The Commerce Department reported last week that the pace of new home sales rose to a seasonally adjusted annual rate of 1.213 million. Most analysts expected only an increase to 1.1 million unit pace.

Despite the spike, the report showed that the housing market may be slowing from record peaks. The median home price declined by 2.2% from March 2005 to $224,200. The decline market he first year-over-year decrease since December 2003.

When compared to March 2005, this year’s sales pace is down 7.2%.

Existing home sales were also up for March by 0.3%, which was unexpected, reported the National Association of Realtors last week. The increases are reportedly due to increased buying in less-expensive markets and the warm weather.

Analysts say that home sales for the year are 4% below the pace set in 2005, a record year for sales. Analysts believe that rising interest rates will lead to a decrease of 6% this year for existing home sales.

David Lereah, chief economist for the NAR, said that the increases are a hopeful sign that sales will only decrease slightly this year.

“This is additional evidence that we’re experiencing a soft landing,” he said. “The market is clearly stabilizing.”

Lereah said that many booming areas are slowing, while moderate growth areas are experiencing strong gains.

Martin Lukac(http://www.MartinLukac.com), represents http://www.RateEmpire.com and http://www.1AmericanFinancial.com, a finance web-company specializing in real estate/mortgage market. We specialize in daily updates, rate predictions, mortgage rates and more. Find low home loan mortgage interest rates from hundreds of mortgage companies!

What does “buying your listing” mean? Well, in simple terms, it simply means that the agent wants to put a sign in your yard, bearing their company’s name and phone number.

Why? Because they want to use your property as advertising to generate phone calls from prospective buyers.

Here’s how it works:

The listing agent makes a presentation, telling you how much they think your home should sell for. Generally, the agent has done a significant amount of research, so they know with reasonable certainty what your home will sell for. However, if you disagree and want to list it at a price considerably higher, one of two things will happen.

An agent who is hoping to get your listing at a price that will sell, thereby fulfilling their obligation to you, will try to get you to accept their opinion as to the selling price. However, an agent just wanting a sign in your yard will often just accept your selling price, even though they know that the chances of your home selling at that price are slim.

In essence, the agent has bought your listing, but you’ll get essentially nothing in return for the next six months. However, back at the office, the phone will begin to ring as people driving around your neighborhood call to inquire about the price, thus generating more business for the real estate agent.

What happens during those inquiries? Well, the agent tells the prospective buyer the price, which generally will prompt a moment of astonished silence on the phone. After all, buyers are generally knowledgeable about the value of houses in their target area, so they’ll know full well that your home is overpriced.

After the silence, the agent will tell the homeowner that they know your listing is out of line, but they know of several other possible candidates that the caller may want to look at that are more within the range they are considering.

If an agent seems to have accepted your listing price, even though there was a significant disparity between what they proposed and what you have asked, be wary. Your listing won’t generate a sale for you, but it will generate calls–and sales–for other listings in the area that owners have priced properly.

Copyright © 2006 Jeanette J. Fisher

Jeanette Fisher, author of interior design, real estate investing, and home staging books teaches home sellers five ways to get more money from their home sale. Home Staging Articles http://homestaging.us/articles.htm FREE Home Staging Information

1. Fill Out The Application

This may seem like a no-brainer, but it is probably the most important and easiest way to ensure your mortgage loan application is processed. Take the time to complete every space on your application.

And before you submit the application, double-check that all your information is spelled correctly and is current. Your information will be submitted to databases for verification. If your information cannot be matched, a person will review it. However, if they cannot verify that you are employed because you misspelled a company’s name, your application could be delayed or declined.

2. Increase Down Payment

The lower your credit score, the higher down payment mortgage lenders will require. A FICO score below 600 will require at least 5% down, while scores below 580 will require even more. Avoid hard money lenders, since they and require up to a 50% down payment and other unfavorable terms.

Down payments protect mortgage lenders from some of the risk by ensuring that they have some equity in the house if they have to foreclose. However, a down payment of 20% or more helps you avoid private mortgage insurance, saving you hundreds a year in premium costs.

3. Apply For A Pre-Approved Loan

Pre-approved loans give you the most options when it comes to buying a home. By applying online for a home loan before you go shopping to buy a house, you know what your budget is. You also have additional buying leverage, since you practically have a blank check from your mortgage lender.

By apply online for a pre-approved loan, you can find out how much you can borrow, instead of asking whether the loan will be approved or not. The mystery is taken out of your financial equation, leaving you to focus on buying a home.

To view our list of recommended bad credit home loan companies online, visit
this page:
Recommended Bad Credit Mortgage Loan Companies Online.

Carrie Reeder is the owner of ABC Loan
Guide, an informational website about various types of loans.