There are some experts questioning whether the current pace of residential home sales is sustainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market.Why the concern?Some are looking at the last three years of home sales and comparing them to the three years just prior to the housing bubble. Looking at the graph below, we can understand that thinking.However, … [Read more...]
5 Reasons to Sell This Fall
School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.Here are five reasons why you should consider selling your house this fall: 1. Demand Is StrongThe latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains … [Read more...]
14,767 Homes Sold Yesterday… Did Yours?
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.After all, 14,767 houses sold yesterday, 14,767 will sell today and 14,767 will sell tomorrow.14,767!That is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ … [Read more...]
Flood Insurance Map Changes in Orleans Parish
If you’re a resident of Orleans Parish or considering buying a house in Orleans Parish, listen up! Flood insurance map changes are taking effect on September 30, 2016, and it will mean good news for 73% of properties in New Orleans. The large number of homes will be removed from the Special Flood Hazard Area (SFHA), 23% will remain unchanged, and 4% will move to a higher risk flood zone. Regardless of where you live in Orleans Parish, we recommend taking a few minutes to understand the upcoming flood insurance map … [Read more...]
Want to Get an A? Hire A Real Estate Pro [INFOGRAPHIC]
Some Highlights:Hiring a Real Estate Professional to buy your dream home, or sell your current house, is one of the most 'educated' decisions you can make!A Real Estate Professional has the experience needed to help you through the entire process.Make sure that you hire someone who knows current market conditions & can simply & effectively explain them to you & your family! … [Read more...]
The Housing Market is Doing Just Fine
There are some that think that housing affordability is a challenge. Historically, that’s not true. Others think that home prices are approaching bubble values. If we look back over the last sixteen years, that is also not the case. As a matter of fact, the numbers show that the U.S. residential real estate market is doing just fine.Here are two articles and excerpts that make this point:The Housing Market Is Finally Starting to Look Healthy – The NY Times“It has been an excruciatingly long time … [Read more...]
Home Values: DEFINITELY NOT in Bubble Range!!
There are some industry pundits claiming that residential home values have risen too quickly and that current levels are on the verge of another housing bubble. It is easy to see how this thinking has taken form if we look at a graph of home prices from 2000 to today.The graph definitely looks like a rollercoaster ride. And, as prices begin to reach 2006 levels again, it “seems logical” that the next part of the ride would be downhill. However, this graph includes the anomaly of the price bubble and the … [Read more...]
How Supply & 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 supply of that item is low & 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 out-pace Seller Supply! … [Read more...]
Housing Market Slowing Down? Don’t Tell Builders!
Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were 31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of … [Read more...]
‘Old Millennials’ Are Diving Head-First into Homeownership [INFOGRAPHIC]
Some Highlights:‘Old Millennials’ are defined as 25-36 year olds according to the US Census Bureau.According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 31 years old.More and more ‘Old Millennials’ are realizing that homeownership is within their reach now! … [Read more...]
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