In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season. Here’s how this summer is stacking up against the norm and what it means for you. Inventory is increasing. According to the latest Existing Home Sales Report from the National Association of Realtors … [Read more...]
Sellers
Resources for anyone selling or considering selling a house in St Tammany, Jefferson, or Orleans parishes.
Your Home Equity Can Take You Places [INFOGRAPHIC]
Some Highlights The amount of wealth Americans have stored in their homes has increased astronomically. On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000. When it’s time to sell, your home equity can help accomplish your goals. Let’s connect to discuss how you can take advantage of today’s sellers’ market to get the most out of your home sale. … [Read more...]
Selling Your House? Make Sure You Price It Right.
There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR): Homes typically sell within 17 days (compared to 26 days one year ago). The average home sold has five offers to pick from. 54% of offers are over the asking price. Because so many buyers are competing for so few homes, bidding wars are driving up home … [Read more...]
The Truths Young Homebuyers Need To Hear
For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value by $100k or more” “47% don’t know what a good interest rate is” Because they feel uncertain, many young homebuyers have given up on their search, or worse, they’ve decided homebuying isn’t for … [Read more...]
A Look at Home Price Appreciation Through 2025
Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels. In more good news for homeowners, the most recent Home Price Expectations Survey – a survey of a national panel of over one hundred economists, real estate experts, and … [Read more...]
Are We in a Housing Bubble? Experts Say No.
The question of whether the real estate market is a bubble ready to pop seems to be dominating a lot of conversations – and everyone has an opinion. Yet, when it comes down to it, the opinions that carry the most weight are the ones based on experience and expertise. Here are four expert opinions from professionals and organizations that have devoted their careers to giving great advice to the housing industry. The Joint Center for Housing Studies in their The State of the Nation’s Housing 2021 report: “… … [Read more...]
What Do Experts See on the Horizon for the Second Half of the Year?
As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon? Mortgage Rates Will Likely Increase, but Remain Low Many experts are projecting a rise in interest rates. The latest Quarterly Forecast from Freddie Mac states: “We forecast that mortgage rates will … [Read more...]
What To Expect as Appraisal Gaps Grow
In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: “The frequency of buyers being willing to pay more than the market data supports is increasing.” While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t … [Read more...]
Save Time and Effort by Selling with an Agent
Selling a house is a time-consuming process – especially if you decide to do it on your own, known as a For Sale By Owner (FSBO). From conducting market research to reviewing legal documents, handling negotiations, and more, it’s an involved and highly detailed process that requires a lot of expertise to navigate effectively. That’s one of the reasons why the percentage of people selling their own house has declined from 19% to 8% (See graph below):To help you understand just how much time and effort it takes to … [Read more...]
Homebuyers: Hang in There [INFOGRAPHIC]
Some Highlights Today’s sellers’ market provides unique challenges—and benefits—for buyers. Current low interest rates won’t last forever, and home prices are forecast to rise. If you’re a homebuyer, hang in there. Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges. … [Read more...]
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