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).
“Even as more homes come on the market for this traditionally popular sales season, they’re flying off fast, with bidding wars par for the course. Home prices have now surpassed their last peak, and at the entry level, where demand is highest, sellers are firmly in the driver’s seat.”
“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home last month. Although finding available properties to buy continues to be a strenuous task for many buyers, there was enough of a monthly increase in listings…for sales to muster a strong gain. Sales will go up as long as inventory does.”
“Despite higher mortgage rates, the potential for home sales increased on an annual basis driven by steady income and job growth, along with a surge in building permits. While it may be a little late for this spring, the increase in building permits is a welcome sign that some relief may be in sight for the inventory shortages that are holding back many markets from realizing their full potential this spring.”
The concept of Supply & Demand is a simple one. The best time to sell something is when the supply of that item is low & the demand for that item is high! Anything under a 6-month supply is a Seller’s Market!
If the home you’re considering buying, or the one in which you’re currently living is governed by a Homeowners Association, you’ll need to ensure that the privacy landscaping you want abides by the HOA rules. You’ll typically find landscaping rules in the CC&R section of the HOA documents. Continue reading…
There are a lot of pro active things that you can do when selling real estate. From the way that you present your home to the way that you offer and negotiate, you can make a big difference in the results that you get. This article will give you some great ideas on how to get the most out of your real estate sale.
When showing your home to potential buyers, be sure to de-clutter prior to inviting them into what could be their new home. Pack away the little things that you do not feel reflect a welcoming space for them. You want to make your home look open with a lot of space for them to move their things in.
Homes are generally bucketed into three groups by price range: starter, trade-up, and premium.
Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.” source: A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture
As you can see, you have a lot of control over the sale of your home or property. The choices that you make will determine how much you get and if you are able to sell it in a quick time-line. Stick to the advice given here and you should see some great results.
Selling a real estate property can be a difficult process. Determining the list price, performing repairs, staging and the listing the home are just a few of the concerns that any potential home seller will face. This article contains the key tips and tricks any real estate seller might need.
The CoreLogic report broke down appreciation even further into four different price categories:
Lower Priced Homes: priced at 75% or less of the median
Low-to-Middle Priced Homes: priced between 75-100% of the median
Middle-to-Moderate Priced Homes: priced between 100-125% of the median
High Price Homes: priced greater than 125% of the median
By adding energy efficient touches, your home may appeal even more to many prospective buyers. Using energy monitors, outdoor solar energy lights, LED bulbs, or anything with an Energy Star rating, can make people more interested in your place since they can reap the savings without buying anything.
Make the home more inviting as you show your home to potential buyers. Light a candle or two, set out a plate of cookies and it will be easier for them to feel welcome as they tour your home. If you have vibrant colors on the walls, consider a quick paint job prior to showing it, in order to make it easier for a buyer to picture himself living in the space.
When showing your home, open the windows if weather permits but not if there is too much noise outside. If it is cold enough to require a sweater then turn on the heat. Make sure that the home is comfortable inside so that the buyer will spend more time looking at the home.
It can be overwhelming to take on a mortgage. It’s best to arm yourself with knowledge prior to going to the bank. The following article will give you the basics of home loans.
Here is a chart showing the average mortgage interest rate over the last several decades.
Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago. source: keithkreis.com CLICK HERE
Ask family and friends for advice when you are searching for a home mortgage. They may be able to help you with information about what to look for. You may be able to benefit from negative experiences they have had. If you discuss your situation with a number of different people,you will learn a lot. selling real estate
You will find a lot of information about securing a mortgage. You now have a leg up on the information you need, because of the tips laid out here. When the time comes that you want to get a home loan, remember this article and use the information here to make wise choices.