dave jones realty: CT Homes Have Positive Equity!
- 08/10/17 06:25 AM
CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year. The study also revealed that: Roughly 63% of all homeowners have seen their equity increase since Q1 2016 The average CT homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017 Only 1.6% of residential properties are near-negative equity Below is a map showing the percentage of homes with a mortgage, in each state, that have positive equity.
Significant Equity Is … (0 comments)
dave jones realty: How Long Do Most Families Stay in Their CT Home?
- 08/10/17 06:17 AM
The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.
Why the dramatic increase? The reasons for this change are plentiful! The fall in CT home prices during the housing crisis left many homeowners in a negative … (0 comments)
dave jones realty: CT Residents Still Believe Real Estate is the Best LongTerm Investment
- 07/28/17 06:36 AM
According to Bankrate’s latest Financial Security Index Poll, CT residents who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment. Bankrate asked them to answer the following question: “What is the best way to invest money you wouldn’t need for 10 years or more?”
Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments - such as savings accounts and CD’s - came in second with 23% (the same as last year). The chart below shows the full results:
The … (0 comments)
dave jones realty: CT Home Inventory Drops Again, Sales Slow
- 07/28/17 06:21 AM
Highlights: Existing CT Home Sales are now at an annual pace of 5.52 million. Inventory of existing CT homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines. The median price of homes sold in CT in June was $263,800. This is the 64th consecutive month of year-over-year price gains. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
dave jones realty: A CT "Buyer" in Hand is Worth Two in the Bush
- 07/26/17 06:16 AM
In today’s highly competitive seller’s market where there are more buyers than there are homes for them to buy, some sellers in CT may feel like the ball is in their court. And they would be right when it comes to choosing which offer to accept, the closing date, or even which improvements they are willing to make to their house prior to selling. One thing to remember though, is that there is always a line that shouldn’t be crossed. Interest rates can change, financing might not go through, the appraisal might not come back at the price that you have agreed … (0 comments)
dave jones realty: 84% of CT Residents Believe Buying A Home is A Good Financial Decision
- 07/24/17 06:55 AM
According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, 84% of CT Residents now believe that purchasing a home is a good financial decision. This is the highest percentage since 2007 – before the housing crisis. Those surveyed pointed out five major reasons why they believe homeownership is a good financial decision: CT homeownership means the money you spend on housing goes towards building equity, rather than to a landlord CT homeownership creates the opportunity to pay off a mortgage and own your home by the time you retire CT homeownership is an investment opportunity that builds long-term wealth and … (0 comments)
dave jones realty: Singles Are Falling For Their Dream CT Home First
- 07/24/17 06:47 AM
Some Highlights: According to NAR’s Profile of Home Buyers & Sellers, the share of recent CT homebuyers who were single at the time of purchase held steady at 24% last year. The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%. The primary reason for buying a CT home amongst singles was the desire to own a home of their own (38% for women and 37% for men). Contact at Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate … (0 comments)
dave jones realty: CT Housing Inventory is Low.. List Your House With Dave Jones TODAY
- 07/24/17 06:38 AM
Every summer, families in CT decide if this will be the year they sell their current house and move into their dream home. Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year. Trulia reported that “Home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago. Here is a chart showing the … (0 comments)
dave jones realty: 3 Tips To Succeed in Today's CT Real Estate Market
- 07/19/17 06:24 AM
In today’s highly competitive CT real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps you can take to ensure you are most prepared for success when buying a home. The 3 tips I am going to expand on today come from a recent blog by Trulia entitled, The Skinny on Skinny Inventory. 1. Be Prepared “CT homebuyers should talk with a lender, real estate professional from Dave Jones Realty, and a home inspector BEFORE finding a home to make an offer on.” Being intentional, pre-approved, and prepared will set you up for the accelerated time … (0 comments)
dave jones realty: Thinking of Selling in CT? You Should Act NOW!
- 07/18/17 09:51 AM
If you thought about selling your house in CT this year, now more than ever may be the time to do it! The inventory of CT 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 CT real estate market. Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented: “CT buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers … (1 comments)
dave jones realty: The 5 Greatest Benefits of CT Homeownership
- 07/14/17 09:18 AM
Recently, Freddie Mac reported on the benefits of CT homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” CT homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. CT homeownership improves your community. Let’s expand on each of Freddie Mac’s points: CT homeownership can help you build equity over time. Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a … (0 comments)
dave jones realty: CT Home Buying Myths Slayed
- 07/14/17 09:07 AM
Some Highlights: CT Interest rates are still below historic numbers. 88% of property managers raised their rent in the last 12 months! The credit score requirements for mortgage approval continue to fall. Contact a Real Estate professional from Dave Jones Realty who can assist with any of your Real Estate needs! … (0 comments)
dave jones realty: The High Impact of Low Interest Rates on Your Purchasing Power in CT!
- 07/11/17 06:34 AM
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a CT home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows … (0 comments)
dave jones realty: Epic CT Housing Shortage Being Reported
- 07/06/17 06:20 AM
The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study. The first two revelations centered around the shortage of CT housing inventory currently available in both existing homes and new construction. Regarding Existing CT Home Inventory: “For the fourth year in a row, the inventory of homes for sale not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months … (0 comments)
dave jones realty: Be Thankful You Don't Have to Pay Mom and Dad's CT Interest Rates
- 07/05/17 06:43 AM
CT interest rates have hovered around 4% for the majority of 2017, which has given many buyers relief from rising home prices and has helped with affordability. Experts predict that rates will increase by the end of 2017 and will be about three-quarters of a percentage point higher, at 4.5%, by the end of 2018. Last week’s Freddie Mac Primary Mortgage Market Survey revealed that interest rates for a 30-year fixed rate mortgage have fallen to their lowest mark this year, at 3.88%. This is great news for homebuyers looking to purchase and homeowners looking to refinance. The rate you secure greatly impacts your monthly mortgage payment and … (1 comments)
dave jones realty: Your Opportunity to Achieve the American Dream in CT Getting Better!
- 07/05/17 06:21 AM
Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.” The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs. The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8. The full results can be seen in the map below.
Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index … (0 comments)
dave jones realty: NAR Data Shows It's A Great Time To Sell in CT!
- 07/03/17 06:18 AM
We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. Two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house in CT. Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report. Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that CT home-buying demand continued to outpace supply in May. The map below illustrates buyer demand broken down … (0 comments)
The National Association of Realtors (NAR) recently released the findings of their Q2 Homeownership Opportunities and Market Experience (HOME) Survey. The report covers core topics like, “if now is a good time to buy or sell a home, the perception of home price changes, perceived ability to qualify for a mortgage, and [an] outlook on the U.S. economy.” The survey revealed that 75% of CT homeowners think now is a good time to sell, compared to 70% last quarter. This is a considerable increase from more than a year ago when 66% agreed. Even though CT homeowners believe that now is a good time to sell, many have not taken the step to list … (2 comments)
Some Highlights: Existing CT Home Sales reached their third highest mark this year in May. Inventory of CT homes for sale has dropped 8.4% since last year, marking the 24th consecutive month of year-over-year declines. NAR’s Chief Economist, Lawrence Yun had this to say: “Those able to close on a home last month are probably feeling both happy and relieved. Listings in the affordable price range are scarce, homes are coming off the market at an extremely fast pace and the prevalence of multiple offers in some markets are pushing prices higher.” Contact a Real Estate Professional from Dave Jones Realty who … (0 comments)
dave jones realty: CT Buyer's Market Helps Premium Home Sales Soar
- 06/28/17 06:19 AM
I previously reported how a shortage of inventory in the starter and trade-up CT home market is driving prices up and causing bidding wars, creating a true seller’s market. At the same time, in the premium CT home market, an over-abundance of inventory has started to see prices come down and put buyers in the driver’s seat, creating the beginning of a buyer’s market. Last week, the National Association of Realtors released their Existing Home Sales Report which shed some additional light on the impact of inventory levels on sales in each price range. The chart below shows the year-over-year difference in sales at each price range. … (0 comments)
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Connecticut area Real Estate listings and market updates. Our Team of Realtors is actively listing and selling homes in your area.
CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.
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