Buyer Demand Still Outpacing the Supply of Homes for Sale The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand). Buyer Demand The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only … (2 comments)
Check out this video then contact me for a showing!
https://youtu.be/FPTVJb0lopY (open in new window)
Cozy Saltbox style home, large lot, beautiful view, Located near Lititz PA, "America's Coolest Small Town". The home sits high on a ridge with a panoramic view. Very Good condition as it's been well cared for. Unique high ceiling living room, partially open stairway, modern kitchen and a family room in finished basement, central vac, kinetico water softener / purifier, deck overlooking large back yard. Excellent home for first time home buyer!
Detatched, story and a half 3 bedrooms, 2 1/2 Baths, total of 2146 sq ft living area includes … (9 comments)
Sometimes the explanation isn't as complicated as we may think.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh The Real Reason Home Prices are Increasing There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of … (1 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh Lancaster,PA Home Sales Slowed by a Lack of Listings ! Some Highlights: The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply. Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016. NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels … (1 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com Should I Buy a Home Now? Or Wait Until Next Year? Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 4.4% by next year. CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months. If you are ready and willing to buy your dream home, find out … (2 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh Home Sales Expected to Increase Nicely in 2018 Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.
As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.
Baring a physical problem or one of location, this sign shouldn't be up for long in this market! If it is, look at the price. See the article below.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh If Your Home Hasn’t Sold Yet… Definitely Check the Price! The residential housing market has been hot. Home sales have bounced back solidly and are now at their fourth highest pace over the past year. Demand has remained strong throughout spring as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house? … (2 comments)
Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com
Is the Current Pace of Home Sales Maintainable? There are some experts questioning whether the current pace of residential home sales is maintainable. Are too many people buying homes like in 2004-2006? Are we headed for another housing crisis? Actually, if we look closely at the numbers, we can see that we are looking at a very healthy real estate market. Why the concern? Some are looking at the last four years of home sales and comparing them to the three years … (3 comments)
When inventory is low it's definitely a Seller's Market!
Call me! Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh 3 Charts That Shout, ‘List Your Home Today!’ In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise. SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
DEMAND Every month NAR reports on the number of … (2 comments)
Buyers be prepared! It's currently a Seller's Market!
Buyer or Seller, call me! Don Hess Associate Broker KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh Buying this Spring? Be Prepared for Bidding Wars Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different! Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up … (2 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh How Low Supply & High Demand Impacts the Real Estate Market Some Highlights: 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! There has not been a 6-months inventory supply since August 2012! Buyer Demand continues to outpace Seller Supply! Supply is very low … (2 comments)
I found this article interesting, but in my opinion rates will have to go much higher before they have impact on the market.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh What Are the Experts Saying about Mortgage Rates? Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every time we … (1 comments)
We are definitely in a seller's market. If you are thinking about selling your home, NOW IS THE TIME! Read the attached article and call me.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh A Tale of Two Markets: Inventory Mismatch Paints a More Detailed Picture The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops. Historically, inventory must … (3 comments)
Correct pricing of a home is critical in today's market. Call me and I can help you establish the right price for your home. Check out the article I've attached below.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh How to Get the Most Money When Selling Your Home Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible. 1. Price it a LITTLE LOW This … (2 comments)
If your thinking of selling your home, it's a seller's market. Check out the article that I've attached and then call me!
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com activerain.com/dfh Buyers Are Searching For Your House The most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecasted to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade. … (4 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com Top 5 Reasons You Should Not For Sale By Owner In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are the top five reasons: 1. Exposure to … (4 comments)
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com Start 2017 Off Right… List Your House for Sale As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years. The recent jump in mortgage rates … (2 comments)
If you're thinking of selling your home, it's a good time!
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com Existing Home Sales Surge Through The Holidays [INFOGRAPHIC] Some Highlights: November’s Existing Home Sales report revealed that sales are now at an annual pace of 5.61 million which is “now the highest since February 2007 (5.79 million) and is 15.4% higher than a year ago (4.86 million).” Total housing inventory (or the inventory of homes for sale) fell 8.0% from last month and is now 9.3% lower than November 2015. Inventory has dropped year-over-year for the last 18 months. … (4 comments)
In addition to the information in the article below our current Lancaster County market has a shortage of properties for sale. If you're considering selling this is a great time! Call me and allow me to show you our marketing techniques.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com 2 Tips to Ensure You Get the Most Money When Selling Your House Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the … (1 comments)
I find these articles worth posting. Our market in Lancaster County PA needs more homes listed for sale. If you're even thinking about selling, contact me and we'll discuss what is required to move it quickly.
Don Hess KW Elite Keller Williams Realty 1280 Plaza Blvd. Lancaster, PA 17601 717-553-2500 Office 717-715-6288 Mobile 717-786-7967 Direct donhess39@gmail.com
Why You Shouldn’t Take Your House Off the Market During the Holidays If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now! The latest Existing Home Sales Report from The National Association … (2 comments)
;)
;)
