Is spring closer than we think? Depending on which groundhog you listen to today, you may have less time than you think to get your home on the market before the busy spring season.Many sellers feel that the spring is the best time to place their homes on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.Here are five reasons to sell now.1. Demand is Strong Foot traffic refers to the number of people who are … [Read more...]
Buyer Demand Is 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 DemandThe map below was created after asking the question: … [Read more...]
Sales at Highest Pace in 10 Years! [INFOGRAPHIC]
Highlights:45 million existing homes were sold in 2016! This is the highest mark set since 2006.Inventory of existing homes for sale dropped to a 3.6-month supply, the lowest level since NAR began tracking in 1999.The median price of homes sold in December was $232,200. This is the 58th consecutive month of year-over-year price gains. … [Read more...]
Thinking of Selling? Why Now is the Time
It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of … [Read more...]
Tips for Preparing Your House For Sale [INFOGRAPHIC]
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...]
5 Myths About Real Estate Reality TV Explained
Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting.When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need … [Read more...]
Top 3 Things Second-Wave Baby Boomers Look for in a Home
According to data from the U.S Census bureau, there are approximately 76.4 million baby boomers living in the United States today. Contrary to what many think, there are very different segments within this generation, and one piece that sets them apart are their housing needs.John McManus, editorial director of Hanley Wood’s Residential Group says his company “is focusing on the preferences of the younger half, or second-wave baby boomers, as they exhibit different needs than the older … [Read more...]
If Your Home Hasn’t Sold Yet… Check the Price!
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?If your house hasn’t sold, it is probably because of the price.If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market … [Read more...]
Year-Over-Year Price Appreciation Reaches Double Digits in 5 Price Categories
The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales … [Read more...]
Year-Over-Year Sales Increases Reach Double Digits in 5 Price Categories
The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales … [Read more...]
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