Some Highlights:The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.First-time homebuyers made up 33% of all sales in October.Homes are selling quickly with 43% of homes on the market for less than a month.A limited supply continues to drive up prices for the 56th consecutive month. … [Read more...]
Thinking of Selling? Don’t Overlook an Outdated Kitchen, Buyers Won’t
If you are planning on listing your home for sale, make sure that you don’t overlook the condition of your kitchen. A recent article on realtor.com listed “7 Signs Your Kitchen Is Way Overdue for a Renovation,” in which they warned:“Dated kitchens—just like bathrooms—are a major barrier for resale. Buyers want modern amenities and styling, and most aren’t interested in renovating post-purchase.”Kitchen remodels can be pricey, with many complete remodels costing … [Read more...]
Winter Is Coming… 5 Reasons to Sell Now!
People across the country are beginning to think about what their life will look like next year. It happens every fall; we ponder whether we should relocate to a different part of the country to find better year-round weather, or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait.If you are one of these potential sellers, here are five important reasons to sell now instead of in the dead of winter.1. Demand Is … [Read more...]
Homes Across the Country Are Selling Fast! [INFOGRAPHIC]
Some Highlights:The National Association of REALTORS® surveyed their members for the release of their Confidence Index.The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.Homes sold in 60 days or less in 42 out of 50 states, and Washington D.C.Homes sold in 30 days or less in 17 states. … [Read more...]
A Lack of Listings Remains ‘Huge’ Challenge in the Market
The housing crisis is finally in the rearview mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures & short sales) are at their lowest mark in over 8 years. This has been, and will continue to be, a great year for real estate.However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. According to the National Association of Realtors (NAR), buyer traffic and demand … [Read more...]
Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision
Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays. Purchasers that are looking for a home during the holidays are serious … [Read more...]
NAR Reports Show Now Is a Great Time to Sell!
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.THE PENDING HOME SALES REPORTThe report announced that pending home sales (homes going into contract) … [Read more...]
The Difference an Hour Makes This Fall [INFOGRAPHIC]
Every Hour in the US Housing Market: 633 Homes Sell253 Homes Regain Positive EquityMedian Home Values Go Up $1.43 … [Read more...]
Percentage of Homeownership by Decade and by State
There has been a lot of talk about the falling homeownership rate in the United States. In December 2004, the homeownership rate reached an all-time high of 69.4%, while the current rate is 62.9%. When comparing these two figures, there is some room for concern regarding the difference.However, today we want to shine some light on the issue by:Showing what historic homeownership rates have looked like over the last 130 years.Breaking down the current percentages by state.Historic Homeownership Rates:Current … [Read more...]
Sales of Distressed Properties Hit New Low
The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report revealing that distressed property sales accounted for 4% of sales in September. This is down from 7% in 2015, and is the lowest figure since NAR began tracking distressed sales in October 2008.Below is a graph that shows just how far the market has come since January 2012 when distressed sales accounted for 35% of all sales.Existing Home Sales Hit 2nd Highest Figure Since June Mortgage interest rates remained … [Read more...]
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