Some Highlights: Thinking of moving across the country? How far will your money take you? The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states. The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $116.01 worth of goods for $100. For more information regarding the methodology used to create the map, visit the Tax Foundation. … [Read more...]
Hey, Millennial Homeowners!! It May Be Time to Sell
Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise. Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for … [Read more...]
Housing Inventory Hits 30-Year Low
Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs. New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, … [Read more...]
93.9% Of Homes in The US Have Positive Equity
CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year. The study also revealed that: Roughly 63% of all homeowners have seen their equity increase since Q1 2016 The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017 Only 1.6% of residential properties are … [Read more...]
20 Tips for Preparing Your House for Sale [INFOGRAPHIC]
Some Highlights: When listing your house for sale your top goal will be to get the home sold for the best price possible! There are many small projects that you can do to ensure this happens! Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help! … [Read more...]
Do Your Future Plans Include a Move? What’s Stopping You from Listing Now?
Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs? How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house. According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the … [Read more...]
Buyer Demand Continues Outpacing the Supply of Homes for Sale
The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand). Buyer Demand The map below was created after asking the … [Read more...]
Inventory Drops Again, Sales Slow [INFOGRAPHIC]
Highlights: Existing Home Sales are now at an annual pace of 5.52 million. Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines. The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains. … [Read more...]
A ‘Buyer’ in Hand is Worth Two in the Bush
In today’s highly competitive seller’s market where there are more buyers than there are homes for them to buy, some sellers may feel like the ball is in their court. And they would be right when it comes to choosing which offer to accept, the closing date, or even which improvements they are willing to make to their house prior to selling. One thing to remember though, is that there is always a line that shouldn’t be crossed. Interest rates can change, financing might not go through, the … [Read more...]
Rising Home Prices Mean Great News for Homeowners
Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers who are out looking for homes, which has caused prices to rise. The great news about rising prices, however, is that according to CoreLogic’s Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due … [Read more...]
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