Thursday, February 26, 2015 / by Marie Berthe
No Matter What the Groundhog Says… 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 physically looking at homes right now. The latest foot traffic numbers show that there are currently more prospective purchasers looking at homes than at any other time in the last 12 months, which includes last spring’s buyers’ market. These buyers are ready, willing and able to purchase… and are in the market right now!
Take advantage of the buyer a6 ...
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Wednesday, February 25, 2015 / by Marie Berthe
Thinking of Buying? What are you waiting for?
If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.
1. Prices Will Continue to Rise
The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic).
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Banker ...
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Wednesday, February 25, 2015 / by Marie Berthe
Home Sales are NOT Collapsing!
The National Association of REALTORS (NAR) just released their Existing Home Sales report and some have taken the results and ran with headlines like:
“Existing home sales collapse in January despite low mortgage rates”.
Let’s take a closer look at what the report really shows. There is a seasonality to home sales that happens every year, with a decline in January, (as shown in the graph below.) But in reality 200,000 more homes (3.2%) sold this January over last January.
The demand for housing hasn’t been a challenge.
Current buyer demand, as shown in the graph below, is actually 3x greater than that of January 2014.
NAR’s Chief Economist, Lawrence Yun points to the real issue at hand:
“Realtors® are reporting that low rates are attracting potential buyers, but the lack of new and affordable listings is leading some to delay decisions.”
Even though buye ...
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Wednesday, February 25, 2015 / by Marie Berthe
Are House Prices Beginning to Accelerate Again?
In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong.
This prompted realtor.com’s Chief Economist Jonathan Smoke to report:
“January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.”
This after the National Association of Realtors (NAR) had already reported in their latest quarterly report:
“The majority of metropolitan areas experien ...
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Tuesday, February 24, 2015 / by Marie Berthe
Two Graphs that Scream – List Your Home Today!
We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.
If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…
DEMAND
According to research at the National Association of Realtors (NAR), buyer activity last month (January) was three times greater than it was last January. Purchasers who are ready, willing and able to buy are in the market at great numbers.
SUPPLY
The most recent Existing Home Sales Report from NAR revealed that the months’ supply of housing inventory had fallen to 4.4 months which is the lowest it has been in over a year.
Bottom Line
Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value ...
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