Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers who are out looking for homes, which has caused prices to rise. The great news about rising prices, however, is that according to CoreLogic’s Homeowner Equity Report, the average American household gained over $14,000 in equity over the course of the last year, largely due … [Read more...]
Pricing Your Home
Want to sell your home quickly? Price it correctly, and it will sell faster and at a higher price!
3 Questions to Ask Before You Buy Your Dream Home
If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market. 1. Why am I buying a home in the first place? This is truly the most important question to answer. Forget the finances for a minute. … [Read more...]
Are Home Prices Approaching Bubble Territory?
As home values continue to rise, some are questioning whether we are approaching another housing bubble. Zillow just reported that: “National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.” Though that statement is correct, we must realize that just catching prices of a decade ago does not mean we are at bubble numbers. Here is a graph of median prices as reported by the National Association of Realtors (NAR). We can see that … [Read more...]
If Your Home Hasn’t Sold Yet… Definitely Check the Price!
The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring 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 could be 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...]
Do You Know the Cost of Waiting? [INFOGRAPHIC]
Some Highlights: The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.9% according to CoreLogic.Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage! … [Read more...]
15,014 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, 15,014 houses sold yesterday, 15,014 will sell today and 15,014 will sell tomorrow.15,014!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...]
Home Prices Up 6.15% Across the Country! [INFOGRAPHIC]
Some Highlights:The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.In the report, home prices are compared both regionally and by state.Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!Alaska, Delaware, West Virginia & Wyoming were the only one states where home prices are lower than they were last year. … [Read more...]
Don’t Let Your Luck Run Out [INFOGRAPHIC]
Some Highlights: The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage! … [Read more...]
How to Get the Most Money When Selling Your Home
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 reality, this just dramatically lessens the demand for their … [Read more...]
The Connection Between Home Prices & Family Wealth
Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.So, what does this mean for homeowners and their equity position?As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?Since the experts … [Read more...]
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