Some Highlights:November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).”Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now 9.3% lower than November 2015.Inventory has dropped year-over-year for the last 18 months.The median price for all home sales in November was $234,900, up 6.8% from last year … [Read more...]
2 Tips to Ensure You Get the Most Money When Selling Your House
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 actuality, this just dramatically lessens the demand for your house … [Read more...]
Why You Shouldn’t Take Your House Off the Market During the Holidays
If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now!The latest Existing Home Sales Report from The National Association of Realtors (NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply.Historically, a 6-month supply is necessary for a ‘normal’ market, explained below:There are more buyers that are ready, willing, and able to buy now than there … [Read more...]
The #1 Reason to Sell Now… Not Next Spring
The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:Putting your home on the market now instead of waiting for increased … [Read more...]
Home Prices: Where Will They Be in 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 4.0% over the … [Read more...]
Americans Are on The Move [INFOGRAPHIC]
Some Highlights:For the 4th year in a row, the Northeast saw a concentration of High Outbound activity.Oregon held on to the top stop of High Inbound states for the 3rd year in a row.Much of this Outbound activity can be attributed to Boomers relocating to warmer climates after retiring. … [Read more...]
Selling in the Winter Attracts Serious Buyers
A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest month for real estate. What is surprising, though, is that listing during the winter came in second!“Among … [Read more...]
5 Reasons to Hire a Real Estate Professional When Buying & Selling!
Whether you are buying or selling a home, it can be quite an adventurous journey; you need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but rather have been strengthened, due to the projections of higher mortgage interest rates & home prices as the market continues to pick up … [Read more...]
Existing Home Sales Surge Forward Through Fall [INFOGRAPHIC]
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...]
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