A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.Read More
The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.Read More
11% of new homebuyers stated “energy efficient features” as the reason for their purchase.
The most popular remodeling projects done for energy efficiency were insulation upgrades, HVAC replacements, and vinyl & wood window inst…
The housing market is really heating up and buyer demand is dramatically increasing as we enter the spring season. However, one challenge to the current market is a major shortage of inventory. Below are a few comments made in the last month by industry experts.Read More
If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.Read More
According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations.Read More
In a study conducted by Builder.com, researchers determined that nationwide, it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home.Read More
- 24% of all recent home buyers were single at the time of purchase.
- 47% of single men cite the desire to own a home of their own as the primary reason to buy.
- 18% of first-time buyers were single women.
How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.Read More
In today’s market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.
Here are five of those reasons:Read More
- This is the 48th consecutive month with year-over-year price gains.
- Lawrence Yun, NAR’s Chief Economist says that, “The main issue continues to be a supply & affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”
- Inventory is still below historic normals at a 4.4 month supply.
When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.Read More
Going into the 2016 spring market, the biggest challenge the real estate industry has is the lack of available housing inventory for sale. Here are a few experts and their thoughts on the subject:Read More
Every homeowner hopes to accomplish five goals when selling their home:Read More
- Many buyers are purchasing a home with a down payment as little as 3%.
- You may already qualify for a loan, even if you don’t have perfect credit.
- Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
- Sunday, March 13th, we “Spring Forward” one hour for Daylight Savings Time (except for our friends in AZ).
- Every hour in the United States, 624 homes will sell and 118 homes will regain positive equity.
- The median home value will also increase each hour in the United States by $1.84.
As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.Read More