jane e daley: Don’t Let Buyer Competition Keep You from Purchasing a Home
- 11/23/20 09:53 AM
This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why. According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB): “The length of time spent searching for a home continues to grow.” The … (0 comments)
jane e daley: Why Working from Home May Spark Your Next Move
- 11/16/20 10:40 AM
If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond. While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so … (0 comments)
jane e daley: 4 Reasons Why the Election Won’t Dampen the Housing Market
- 11/04/20 10:52 AM
Tomorrow, Americans will decide our President for the next four years. That decision will have a major impact on many aspects of life in this country, but the residential real estate market will not be one of them. Analysts will try to measure the impact feasible changes in regulations might have on housing, the effect of a possible first-time buyer program, and any number of other situations based on who wins. The housing market, however, will remain strong for four reasons: 1. Demand Is Strong among Millennials The nation's largest generation began entering the housing market last year as they reached the age … (0 comments)
jane e daley: Rent vs. Buy: How to Decide What’s Best for You
- 11/04/20 10:38 AM
According to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches each dollar a little bit further. While the best timeline to buy a home is different for everyone, the question remains: Should I continue renting or is it time for me to buy? The answer depends on your current situation and your future plans, so here are some thoughts to help you decide if you’re ready to own a home of your own. 1. Rent Will Continue to Increase This is one of the top reasons why … (0 comments)
jane e daley: Real Estate Is a Driving Force in the Economy
- 11/04/20 10:29 AM
As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year. Today’s high buyer demand combined with low housing inventory means we’re seeing home prices appreciate at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to Freddie Mac: "The record low mortgage rate environment … (0 comments)
jane e daley: Should I Renovate My House Before I Sell It?
- 10/30/20 08:47 AM
[INFOGRAPHIC] Some Highlights In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range. With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house. If you’re ready to move, let’s connect to determine your best next steps in this sellers’ market. … (1 comments)
jane e daley: Buyer Interest Is Growing among Younger Generations
- 10/28/20 09:13 AM
The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains: “Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season…I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation … (0 comments)
jane e daley: Why Selling Your House Before Next Spring Is Key
- 10/15/20 10:41 AM
Today's housing market is empowering homeowners with the control they want when selling their house, but as home inventory begins to rise, this fair-weather won't last forever.
October 15, 2020
Let's connect to start the process of selling your house now while it's still the best time to do so. Sources used for data: https://www.census.gov/construction/nrs/pdf/newressales.pdf … (1 comments)
One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market. Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower … (1 comments)
In today’s real estate market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes: “Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.” When it comes to … (0 comments)
Buyers are finding more space in the luxury home market. A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market. The Institute for Luxury Home Marketing (ILHM) explains: “With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback. For instance, the last six … (0 comments)
As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching halt? Even worse, would home values begin to depreciate? Original forecasts modeled this uncertainty, and they ranged anywhere from home values gaining 3% (Zelman & Associates) to home values depreciating by more than 6% (CoreLogic). However, as the year unfolded, it became clear that there would be little negative impact on the housing market. As … (0 comments)
Some Highlights As a seller today, you may think pricing your home on the high end will result in a higher final sale price, but the opposite is actually true. To sell your home quickly and for the best possible price, you should eliminate buyer concerns by pricing your home competitively right from the start. Let’s connect today to make sure you have the guidance you need to price your home right this fall. … (0 comments)
Last week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high in the 35-year history of the series with a score of 83. The index gauges builder perceptions of current single-family home sales and sale expectations for the next six months, as well as the traffic of prospective buyers of new homes. As the following chart shows, confidence dropped dramatically when stay-in-place orders were originally mandated earlier this year. Since then, it has soared back.Looking at the three-month moving averages for HMI scores, confidence increased in every region of the country: The Northeast increased 11 points to 76 … (0 comments)
jane e daley: Is the Economic Recovery Beating All Projections?
- 09/21/20 09:31 AM
Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the country will not face the total devastation projected by some. As we continue to battle the pandemic, forecasts are now being revised upward. The Wall Street Journal (WSJ) just reported: “The U.S. economy and labor market are recovering from the coronavirus-related downturn more quickly than previously expected, economists … (1 comments)
Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home Price – Growth in asking prices Housing Supply – Growth of new listings Pace of Sales – Difference in time-on-market The index compares the current status “to the January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a … (0 comments)
jane e daley: Is Now a Good Time to Move? The Dollars Tell the Tale
- 09/15/20 08:29 AM
How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time to time to be in one place, considering the average length of time homeowners used to stay put hovered closer to 6 years. With today’s changing homebuyer needs, especially given how the current health crisis has altered our daily lifestyles, many homeowners are reconsidering where they’re at and thinking about moving … (0 comments)
Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago. Not Like the Great Depression or Even the Great Recession Jason Furman, Professor of Practice at Harvard explained: “An unemployment rate of 8.4% is much lower than most anyone … (0 comments)
Have you ever seen a market like this? The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here’s a look at four key areas that are fundamentally defining the market this year. Housing Market Recovery The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common real estate transaction were … (0 comments)
jane e daley: Homebuyer Demand Is Far Above Last Year’s Pace
- 09/03/20 07:35 AM
Homebuying demand has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for. According to the Pending Home Sales Report from the National Association of Realtors (NAR): “Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth. The Pending Home Sales Index (PHSI), … (0 comments)
;)
;)
;)
