CoreLogic’s latest Equity Report revealed that 256,000 properties regained equity in the third quarter of 2015. This is great news for the country, as 92% of all mortgaged properties are now in a positive equity situation. Price Appreciation = Good News For Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “Home price growth continued to lift borrower equity positions and increase the number of borrowers with sufficient equity to participate in the mortgage market. In the last … [Read more...]
What You Don’t Need To Hear From Your Listing Agent
You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to: Set the market value on possibly the largest asset your family owns (your home) Set the time schedule for the successful liquidation of that asset Set the fee for the services required to liquidate that asset An agent must be concerned first and foremost about you and your family in order to garner that degree of trust. Make sure this is the case. Be … [Read more...]
Homes Selling Quickly Across The Country
According to the National Association of Realtors’ (NAR) Existing Home Sales Report, homes were on market for an average of 58 days in December. This was slightly longer than the 54 days in November, but still better than the 66 days experienced in December 2014. 32% of homes across the country were on the market for less than a month! Colorado, Utah and Delaware led all states as home are selling in 30 days or less on average. The map below was created using results from NAR’s Monthly Realtor … [Read more...]
Where Are Americans Moving? [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...]
This Time “Mr. Wonderful” is just WRONG!!
Recently, on CNBC’s Closing Bell, Shark Tank investor Kevin O’Leary, also known as “Mr. Wonderful,” said Millennials “don’t give a poo-poo about owning a house.” This thinking couldn’t be further from the truth. Let’s give a few examples to make this point. 1.) In the recent National Housing Market Survey conducted by Fannie Mae, it was revealed that: “…data indicates that millennial renters today have as much desire to own a home as the general … [Read more...]
Will Appraisals Continue to be a Challenge in 2016?
First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016. “The fourth quarter RESI found that title agents continue to believe that property valuation issues will be the most likely cause of title order cancellation over the coming … [Read more...]
No Matter Which Groundhog You Listen To, You Should Sell Before Spring!
Is spring closer than we think? Depending on which Groundhog you witnessed today, you may have less time than you think to get your home on the market before the busy spring season. Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages. Here are five reasons to sell now. 1. Demand is Strong Foot traffic refers to the number of people out actually … [Read more...]
Harvard: Why Owning A Home Makes Sense Financially
We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own differ for each buyer, with many basic similarities. Eric Belsky, the Managing Director of the Joint Center of Housing Studies at Harvard University expanded on the top 5 financial benefits of homeownership in his paper -The Dream Lives On: the Future of Homeownership in America. Here are the five reasons, each followed by an excerpt from the study: 1.) Housing is … [Read more...]
Existing Home Sales Bounce Back [INFOGRAPHIC]
Some Highlights: Sales in December were 14.7% higher than those in November, marking the largest month-over-month increase ever recorded. Inventory levels are still below historic norms at 3.9-months supply. Median home price is up 7.6% from last year, marking the 46th consecutive month with year-over-year price gains. … [Read more...]
Thinking of Selling? Why Now May Be The Time
It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently … [Read more...]
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