market: Sell Home Now Before Spring Rush
- 02/20/24 06:10 AM
If you are thinking about selling your home in 2024 selling your home early in the year may work to your advantage. Timing makes a difference because home prices rise and fall like stocks. Following are a few thoughts to consider when making your decision:
Mortgage rates – In the past year sellers have been reluctant to sell because they would be paying a higher interest to replace their existing home. Recently mortgage rates have begun to fall, and predictions are expecting interest rates to settle in the mid-6% range during 2024. This means sellers will not lose as much when they … (0 comments)
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market: Ways Inflation Could Affect 2024 Housing
- 01/09/24 06:29 AM
People across the nation have felt the effects of inflation. Mortgage rates have caused a slowdown in the housing market and home buyers have delayed purchasing a new one, but homes prices have remained strong during this period. Before deciding to sell your home examine the current market in your immediate area and listen to what experts are saying about inflation and how it will affect the housing market. For instance, Goldman Sachs is saying there will be strong income growth and interest rates hikes are a thing of the past for 2024. While Morningstar is expecting a decline in inflation … (1 comments)
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market: When Not to Accept Highest Bid on Your Home
- 10/11/23 06:54 AM
Your house is on the market and there is a shortage of housing. As a seller, when this happens it appears that you are on the winning side and should receive multiple offers. At the same time, you should watch for red flags that may be present when a buyer makes an offer. Many times, sellers think higher offers are always more appealing, and in a market where multiple offers are frequent, this creates an environment where missteps may occur. Sometimes sellers are willing to accept a lower offer because they feel there may be less headaches and a greater chance … (5 comments)
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market: Important to Price Your Home Right
- 09/13/23 08:21 AM
Currently homes are not selling fast as we have experienced in the past, but homes that are priced right are selling. Many of these homes are selling quickly and some are receiving multiple offers with a few selling above-listing price. Your listing agent is the person who can give advice on where to price your property. If priced too high this causes buyers not to tour your home and eventually forces sellers to reduce their listing price. The first 2 weeks after listing your house attract the greatest number of buyers. This is why it is important to get the price … (2 comments)
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market: Home Buyers Should Negotiate
- 01/17/23 06:30 AM
Home market shift has cause home buyers to focus on price as well as other things to make their home buying experience more attractive. Buyers need to better understand the parts of the contract to create a win-win environment for themselves. Buyers now have more inventory and less competition when purchasing a house which means they have greater opportunity to negotiate with sellers. Things buyers should consider negotiating with sellers:
Closing cost – These are fees buyers pay to close a real transaction. These fees are lender, appraisal, title search fees, taxes, etc. The amount of fees may arrange between 3-6% of … (1 comments)
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market: Tips When Buying a Home
- 12/12/22 07:25 AM
Buying a home is stressful, whether you are buying a starter home, upgrading, or downsizing. In a sellers’ market this can be extra stressful. During that cycle, buyers compete in a multi-offer environment. For some buyers it may be advisable to wait for the market to cool off. On the other hand, there may opportunities where buyers can purchase a home that meets their needs and desires. Now let us define types of real estate markets: a balance market is where supply of houses available to purchase is equal to the demand for homes. Housing prices are stable, and houses sell … (3 comments)
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market: Home Affordability Affected by Mortgage Rates
- 10/14/22 06:31 AM
Mortgage rates are rising in today’s housing market, and this affects how much a home buyer can afford to purchase. Likewise, your credit score and down payment have a similar affect. All of the above items have a direct effect on how large a loan you can get. When in the market to purchase a home, need to watch and understand how a rise in interest rates affects your monthly mortgage payments. This can quickly move your payment from affordable to unaffordable. Depending on your financial situation you may want to consider discount points when talking to a lender. Discount points … (1 comments)
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market: Unusual Housing Market
- 07/07/22 09:51 AM
National Association of Realtors (NAR) says in a report that we are in an unusual housing market. Existing home sales have fallen recently, but buyers are still anxious to purchase a home. Mortgage rates and sales prices are higher, and currently experiencing low inventory of existing homes for sale. This leads to an affordability issue with many home buyers. Number of homes for sale are rising, but homes sales are slowing down recently. With higher home prices and mortgage rates, number of sales may continue to decline. Recently, NAR published indicators in their housing report:
Home prices – Home prices are … (1 comments)
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market: Possible Calmer Housing Market in The Future
- 05/17/22 07:02 AM
The housing market is beginning to show signs of getting back to normal. This is indicated by fewer contract signings and decrease in pending home sales recently. The only area that has seen an increased number of sales is the northeast. With fewer contract signings this is an indication that the market may be calming and moving towards a more normal market condition. Now that interest rates are increasing this reduces the number of potential buyers, therefore slowing the number of homes being sold. The desire to purchase a new home remains strong, but the financial ability has become a limiting … (2 comments)
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market: Home Bidding Wars Are Rising in January 2022
- 03/10/22 06:18 AM
Competition for buying a home has been unseasonably hot this past year. Buyers faced bidding wars with low inventories. NAR reported that January 2022 had the fewest number of homes available for sale on record with most of these homes sold under a month. Mortgage rates are anticipated to rise in the coming months which may cause home buyers to lock-in at earliest date to avoid further increases. Since there are few homes on the market and townhomes appear to be creating the most competition in some areas. Current buyers desiring to buy a home are trying to locate a home … (2 comments)
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market: First-Time Home Buyers Budget
- 11/02/21 06:40 AM
The past several months soaring housing prices has brought double-digit gains and locked out many home buyers. This is especially true for first-time home buyers and caused them to stretch their budgets to a dangerous level. By August 2021 per National Association of Realtors (NAR) median home price for existing homes reached $356,700. This is an increase of 15% from prior year. Recently, there has been increase of inventory on the market, but first-time home buyers are still finding it difficult to afford these higher home prices so they can become homeowners. Per NAR, this past year first-time home buyers comprised … (1 comments)
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market: Tips To Sell Your Home
- 09/02/21 08:07 AM
Many home buyers have regrets after they buy their new home. Similar thing happens when seller trying to determine whether to sell their home. Many sellers ask themselves what if? Would it be better to wait to sell? Should I negotiate differently? Should I make more improvements to my property? With a lot of money on the line and having little experience selling a home, you may want to pause and do some research before selling a house. Following are some home selling tips:
Determine if you ready to sell – Selling your home is both a financial decision and emotional experience. … (1 comments)
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market: 2020 Housing Inventory Projection
- 12/19/19 06:16 AM
Per realtor.com, projected housing inventory in 2020 likely to tighten making it a greater challenge for buyers purchasing a home. At the same time, there will probably be lower interest rates creating more buyers. In addition, they predict the inventory of homes available for sale may hit a record low during 2020 which might cause the housing market to slow. Entry-level homes may be affected the most, and first-time buyers will continue to struggle finding affordable housing. Economists predict interest rates to remain low, averaging 3.85%. This will help on affordability, but lack of available housing will continue to be a … (1 comments)
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market: Starter Home Suggestions for First-Time Home Buyers
- 12/19/18 08:29 AM
Currently, all real estate price points are experiencing a shortage of inventory in the housing market. At this point in time, the entry level for first-time home buyers is experiencing the greatest difficulty. This is due in part; many homeowners are staying in their current home longer instead of trading up due to rising construction cost. In addition, number of builders have abandoned the entry-level market. Unfortunately, most buyers need to brace themselves for higher housing prices than they may have expected in many parts of the country. Home buyers may be able to bypass some of these hurdles with careful … (0 comments)
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market: Considerations When Accepting Home Offer
- 01/11/18 07:13 AM
Living in a popular neighborhood where houses are selling at a fast space can give a seller the big head that their home can sell above market price. This may or may not be true. Remember, buyers may not have the same high opinion of your home as the homeowner does. Seller’s home probably has met their needs, but it may not be the most desirable house for other people. A home that has met your needs and desires, is also subject to contingencies that are contained in a sales contract. Fewer contingencies within contract improves odds of getting faster acceptance … (3 comments)
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market: Buying Home in Hot Market
- 09/22/17 05:44 AM
Anytime a person purchases a home it may be a stressful experience. Homebuyers, usually are emotional, and are trying to buy the perfect home before another buyer beats them to the purchase. Becoming knowledgeable about the home buying process, surrounding your good professional realtor and lender, and being ready to move fast can help to eliminate stress. A buyer may be able to reduce stress by taking advantage of following tips when competing in the market place:
Property alerts – You and/or realtor can setup instant property alerts when a new property comes on the market. These are real estate websites that … (1 comments)
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market: Smart Home Buying Strategies
- 06/06/16 11:06 PM
Home buyers need to be prepared and understand how to approach house buying under different market conditions. First, buyers must be able to recognize when the market shifts. If houses are selling quickly, probably house prices are rising, this is a seller’s market. If there is large inventory of homes, and/or houses are selling slowly, this is a buyer’s market. In a buyer’s market, the buyer has the upper hand and many times can get concessions from the seller. Otherwise, if a seller’s market and homes in short supply, the buyer normally will be required to pay a higher price for … (0 comments)
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market: Texas Real Estate Strong In 2015
- 12/20/15 11:55 PM
In the past year real estate has been strong in Texas. There are indications there is strong growth in all segments the housing market with luxury and land sales showing strongest. Following are some reasons why the market is strong in this state:
Foreign investors consider the area to be a great place to live, work and do business. There are annual reports stating there are approximately 538,000 people who have come to this area from other states and foreign countries.
Texas has good employment opportunities in many sectors and with strong job growth.
Texas has a diversified economy which creates growth possibilities for … (0 comments)
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market: Selling Home – Fix or Not Fix It
- 08/13/15 11:01 PM
In today’s market many home buyers prefer to buy a property that is move-in-ready condition. In addition, these same buyers most likely will bypass houses that are being sold “as is”. As a seller, you need to determine if certain fixes are worth it, which means, are you going to get the proper return on investment. Prior to putting property on the market determine which fixes are worth it. Following is a list of ideas that may help you determine whether to fix-it, or not to fix-it:
Fix-it – major electrical wiring problems, replacing old carpet with new carpet or wood … (1 comments)
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market: Understanding Home Buyer Terms
- 07/29/15 05:54 AM
As a home buyer it is important to understanding concepts and terms prior to buying property. Throughout the buying process a buyer will be exposed to new terminology and needs the ability to understand these terms. Following is a list of some important terms:
Abstract of Title – Historical record of legal ownership of the property.
Adjustable Rate Mortgage (ARM) – Variable rate loan where the interest rate changes based on an index.
Agreement of Sale – Written contract for sale signed by both parties which the buyer and seller agree to specified terms to transfer ownership of property.
Amortization – Process of reducing the … (1 comments)
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If you are thinking about selling your home in 2024 selling your home early in the year may work to your advantage. Timing makes a difference because home prices rise and fall like stocks. Following are a few thoughts to consider when making your decision:
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