June 17, 2019

5 Reasons to Sell Your House This Summer

5 Reasons to Sell Your House This Summer | Simplifying The Market

 

5 Reasons to Sell Your House This Summer

 

1. Demand Is Strong

The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

 

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Posted in Market Updates
March 21, 2019

Priced to Sell Immediately

 

Is Your House Priced To Sell Immediately (PTSI)?

 

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Indexhome values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.

 

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Posted in Market Updates
Feb. 11, 2019

Thinking of Selling Your Home? This is a Perfect Time!

 

Thinking of Selling Your House? This is a Perfect Time!

It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year.

The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:

 

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Posted in Market Updates
Feb. 5, 2019

Do You Need 20% Down to Purchase a Home?

 

 

One More Time... You Do Not Need 20% Down to Buy a Home | Simplifying The Market

 

One More Time… You Do Not Need 20% Down to Buy a Home

 

In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment!

 

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Posted in Market Updates
Jan. 28, 2019

Is Spring the Best Time to Sell?

Why It Makes No Sense to Wait for Spring To Sell | Simplifying The Market

Why It Makes No Sense to Wait for Spring to Sell

The price of any item (including residential real estate) is determined by the theory of ‘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.

 

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Posted in Market Updates
Dec. 10, 2018

Should I Wait Another Year to Buy?

What If I Wait Until 2019 To Buy A Home? | Simplifying The Market

 

What If I Wait A Year to Buy a Home?

National home prices have increased by 5.4% since this time last year. Over that same time period, interest rates have remained near historic lows which has allowed many buyers to enter the market and lock in low rates.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price but instead about the ‘long-term cost’ of the home.

 

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Posted in Market Updates
Oct. 24, 2018

15%-20% for Down Payments are a Thing of the Past!

Still Think You Need 15-20% Down to Buy a Home? Think Again! | Simplifying The Market

 

Still Think You Need 15-20% Down to Buy a Home? Think Again!

 

Now that the largest generation since baby boomers has aged into prime homebuying age, there will no doubt be an uptick in the national homeownership rate. The study from Urban Institute revealed that nearly a quarter of this generation has the credit and income needed to purchase a home.

 

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Posted in Market Updates
Oct. 17, 2018

5 Tips for Starting Your Home Search

5 Tips for Starting Your Home Search | Simplifying The Market

 

5 Tips for Starting Your Home Search

 

In a recent realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,”the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.

1. Get Pre-Approved for a Mortgage Before You Start Your Search

One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

This step will also help you narrow your search based on your budget and won’t leave you disappointed if the home you tour, and love, ends up being outside your budget!

 

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Posted in Market Updates
Oct. 9, 2018

What's Going on with Home Prices?

What’s Going On With Home Prices? | Simplifying The Market

What’s Going On With Home Prices?

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.

CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,

“The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home Price Index.  

National appreciation in August was the slowest in nearly two years, and we expect appreciation to slow further in the coming year.”

One of the major factors that has driven prices to accelerate at a pace of between 6-7% over the past two years was the lack of inventory available for sale in many areas of the country.

 

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Posted in Market Updates
Aug. 27, 2018

Rent of Buy?

Rent or Buy: Either Way Youâ??re Paying A Mortgage! | Simplifying The Market

Rent or Buy: Either Way You’re Paying A Mortgage!

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

 

With home prices rising, many renters are concerned about their house-buying power. Mark Fleming, Chief Economist at First Americanexplained:

 

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Posted in Market Updates