home selling: Are You Aware How Much Equity is in Your Home? You May Be Surprised!
- 03/26/18 05:26 PM
Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation. “U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2%, year over year.” Price Appreciation = Good News for HomeownersFrank Nothaft, CoreLogic’s Chief Economist, explains: “Home-price growth has been the primary driver of home-equity wealth creation. The … (1 comments)
home selling: Moving up Is MORE Affordable Now Than Any Other Time in 40 Years
- 03/21/18 06:21 PM
Moving up Is MORE Affordable Now Than Almost Any Other Time in 40 Years If you are considering selling your current home, to either move up to a larger home or into a home in an area that better suits your current family needs, great news was just revealed. Last week, Trulia posted a blog, Not Your Father’s Housing Market, which examined home affordability over the last 40+ years (1975-2016). Their research revealed that: “Nationally, homes are just about the most affordable they’ve been in the last 40 years… the median household could afford a home 1.5 times more expensive than the median home price. In 1980, the … (0 comments)
home selling: Home Prices: The Difference 5 Years Makes
- 03/14/18 05:29 PM
Home Prices: The Difference 5 Years Makes The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared. Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state, “Homeowners in the United States experienced a run-up … (1 comments)
home selling: Competition is Coming, Are You Thinking of Selling Your Home?
- 03/13/18 05:52 PM
Competition is Coming, Are You Thinking of Selling Your Home? The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.4% over last year. How will this impact buyers?More inventory means more options. Lawrence Yun, NAR’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy: “This rise in single-family housing construction will help tame home price growth, and the increase in multifamily … (0 comments)
home selling: 2 Ways to Get the Most Money from The Sale of Your Home
- 03/02/18 11:20 AM
2 Ways to Get the Most Money from The Sale of Your Home Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for … (1 comments)
home selling: 5 Reasons to Hire a Real Estate Professional When Buying or Selling
- 02/19/18 05:19 PM
Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling! Many people wonder whether they should hire a real estate professional to assist them in buying their dream homes or if they should first try to go through the buying process on their own. In today’s market: you need an experienced professional! You Need an Expert Guide If You Are Traveling a Dangerous Path The field of real estate is loaded with landmines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to … (2 comments)
home selling: Low Inventory Pushes Home Prices Higher
- 02/15/18 06:27 PM
Low Inventory Pushes Home Prices Higher According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation, “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited … (0 comments)
home selling: The #1 Reason to Sell Now Before Spring
- 02/13/18 04:13 PM
The #1 Reason to Sell Now Before Spring The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases. According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:
Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense. Bottom … (1 comments)
Highlights: Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home). One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience. You might also enjoy reading... Buying or Selling in 2018? 5 Reasons … (2 comments)
home selling: Bidding Wars Abound… How Long Will They Continue?
- 02/02/18 08:00 AM
Bidding Wars Abound… How Long Will They Continue? Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner. CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list … (3 comments)
home selling: U.S. Housing Inventory Crunch Continues… List Your House Today!
- 02/01/18 10:20 AM
U.S. Housing Inventory Crunch Continues… List Your House Today! Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes. Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW! At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year. Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.” Here is a chart showing the decrease in … (0 comments)
home selling: The Impact of Tight Inventory on the Housing Market
- 01/31/18 07:58 AM
The Impact of Tight Inventory on the Housing Market The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. It seems that the market will continue to strengthen in 2018. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the winter, supply is not keeping up. … (1 comments)
home selling: The Impact Staging Your Home Has on Sales Price [INFOGRAPHIC]
- 01/30/18 11:03 AM
The Impact Staging Your Home Has on Sales Price [INFOGRAPHIC] Some Highlights: The National Association of Realtors surveyed their members & released the findings of their Annual Profile of Home Staging. 50% of staged homes saw a 1-10% increase in dollar value offers from buyers. 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own. The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room. … (0 comments)
home selling: There’s More to a Bubble Than Rising Home Prices
- 12/29/17 03:57 AM
There’s More to a Bubble Than Rising Home PricesWhat truly causes a housing bubble and the inevitable crash? For the best explanation, let’s go to a person who correctly called the last housing bubble – a year before it happened. “A bubble requires both overvaluation based on fundamentals and speculation. It is natural to focus on an asset’s fundamental value, but the real key for detecting a bubble is speculation…Speculation tends to chase appreciating assets, and then speculation begets more speculation, until finally, for some reason that will become obvious to all in hindsight, the ‘bubble’ bursts. I have taken to … (0 comments)
Saint Joseph is billed as “the Patron Saint of Real Estate”, leading many home sellers to turn to this former carpenter for divine intervention with their real estate woes! The practice involves planting a small St. Joseph statue, upside down, in the lawn or garden of the home while simultaneously asking for some divine intervention – the only catch is, the statue must be dug up once the house sells, and taken with the owner to their new residence where it will be kept in a place of honor within the home.
Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home?
1. Growing Family If you've added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, … (0 comments)
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