The success of the housing market is strongly tied to the consumer’s confidence in the overall economy. For that reason, we believe 2017 will be a great year for real estate. Here is just a touch of the news coverage on the subject.HousingWire:“Consumers’ faith in the housing market is stronger than it’s ever been before, according to a newly released survey from Fannie Mae.”Bloomberg:“Americans’ confidence continued to mount last week as the Bloomberg Consumer Comfort … [Read more...]
How Low Supply & High Demand Impacts the Real Estate Market [INFOGRAPHIC]
Some Highlights:The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high!Anything under a 6-month supply is a Seller’s Market!There has not been a 6-months inventory supply since August 2012!Buyer Demand continues to outpace Seller Supply! … [Read more...]
The Foreclosure Crisis: 10 Years Later
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the … [Read more...]
It’s a Seller’s Market! Should I Downsize Now?
A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their houses in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.In a blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey … [Read more...]
How to Get the Most Money When Selling Your Home
Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.1. Price it a LITTLE LOW This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their … [Read more...]
Housing Market Expected to “Spring Forward”
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country impacted by … [Read more...]
Thinking of Selling? Do it TODAY!!
That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist for the National Association of Realtors, said:“Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have … [Read more...]
Where Did Americans Move in 2016?
Some Highlights:For the 5th year in a row, the Northeast saw a concentration of “High Outbound” activity.For the first time ever, South Dakota held the top spot for “High Inbound” states.Much of America’s outbound activity can be attributed to Boomers relocating to warmer climates after retiring. … [Read more...]
Where Are the Home Prices Heading in the Next 5 Years?
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.The results of their latest survey:Home values will appreciate by 4.4% over the … [Read more...]
Existing Home Sales Reach Highest Mark Since 2007 [INFOGRAPHIC]
Highlights:Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million.January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home." … [Read more...]
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