By Setarreh Massihzadegan
THE ERICKSON TRIBUNE

This year the real estate market is looking brighter for people selling their homes.

Sales of existing homes should rise over last year, according to the National Association of Realtors (NAR). The outlook, particularly for Massachusetts, is optimistic.

“Going forward, what we’re expecting is improving conditions in parts of the northeast,” says Ken Fears, economist with the NAR. “Massachusetts entered this housing slump earlier than any other part of the country, so we’re actually expecting them to pull forward earlier,” he adds.

Changing tides
A pent-up demand for housing will drive sales higher this year, Fears says, as will smarter actions on the part of both sellers and buyers: “Sellers are working with buyers, lowering prices in some areas but making improvements to homes and allowing appraisals. And some buyers are getting improved financing.”

Buyers have been hindered by a lack of financing for their homes, particularly since last year’s subprime mortgage crisis. This year, with more people using Federal Housing Administration loans and fewer turning to subprime loans, Fears says there will be more stability in the market.

“You have fewer people going forward that are going to be in foreclosure,” Fears says, which is good news for buyers and sellers.

Help for sellers
Move-in Coordinator Diane Rose can recommend resources for people moving to Brooksby, from real estate brokers to downsizing specialists.

Retirement Counselor Marisa Tazzini reminds sellers: “If your house is priced right and you have a good broker, it will sell.”