Real Estate Market Report and Home Sales Pricing Trends

What to do?  

Have you heard?  Property values are “...up 6% last month!”.  Isn’t that exciting?  But up 6% from what?  Home sales pricing may seem like pure guesswork sometimes...

Since the market started to tank in 2006 the overall picture has depreciated 27%.  So, has it actually increased IN VALUE six percent or simply increased month-over-month?  There is a huge distinction in this when you talk with someone who has personally experienced a property price drop close to fifty percent (50%!) in a few years.  When you are talking with someone that has re-financed their home at market peak (approximately during the 2005-2006 period) and discovering in 2009 their home was worth half what they owed.  When they re-financed earlier their balance was so low it was almost within reach, compared to when they began the long staircase of a 30-year mortgage.  Then there’s the commercial real estate bottomless pit, where you couldn’t incentivize a mouse to move in with free cheese.  But...home sales pricing is nebulous at best, even for the mortgage rep and realtor.

Then they discovered homes were in the water too.  As in, “Underwater”.  And the rush is on.

So we are seeing property values increasing slowly but surely, and looking purely at the short-term, increases can look pretty dramatic.  But we must usually ask:  In relation to when?

And the vagaries of the market are no longer (if ever) controlled by the single-family home owner.  The ebb and flow (or drain and tsunami?) of pricing is currently in the control of major “asset managers” holding millions of homes hostage to their short-term stock performance. As the market varies so does their release of inventory.  The volume of homes they put back on the market.

What to do?

Your homework.  Can you afford to wait? What will you do when the market is suddenly inundated with inventory and the selling prices drop? What will you do when mortgage rates for the very best qualified applicants skyrocket again?  There may be the option to buy-down interest rates as they did in the ‘70’s and ‘80’s as rates were in the high teens.  HIGH TEENS. FOR 30-YEAR FIXED MORTAGES.  Can you imagine how your buying power drops when the standard rate goes to, for example, 15%?  Mortgages actually hit 19% in some areas back in those eras.

What to do?

Sell your home for less and pay cash for the next home.  Or leverage it by selling on owner-financing and garner the interest, re-invest the monthly.  Then you must consider the effect of 1031 exchanges.  Many options available.  What are the pricing trends in your neighborhood?

What to do?

Get online and find the best real estate professional that fits your needs.  Then find two more. And interview them.  Get the most up-to-date info on the market, what can be done to maximize your chance to get the most money for your greatest investment, and get the return you deserve from the years of blood, sweat and tears you put into your home.

Consider the Jobe Lifestyle Real Estate Group in your evaluations.

JLG has the technology.  Our diversity is a strong point. We help clients with portfolio divestiture in the millions of dollars all the way to helping sell the market-centered $300,000 single-family home.  Or the $95000 lot.  And the business opportunity for a franchise in a new strip mall.  Our Team has extensive expertise across the spectrum.  Available for you.

Quite a Team.  Available for you.

And we’re available for courtesy consults as well.  Got a question or concern about your real estate situation?  Who you gonna call?  Need to know if the quotes you’ve been getting are REALLY  as accurate as claimed?  Who you gonna call for your own personal Cloud Evaluation for your property?  The most accurate evaluation available.  BUT THIS ONE TAKES TIME and talent.  Both cost more than most agents are willing to invest in their future clients. IT’S PART OF OUR DAY-T0-DAY operations.  We not only provide the evaluation we provide a financial showing you your bottom line.

What to do?  Who to call?

Jobe Lifestyle Real Estate Group @ Keller Williams Eastside Market Center.  Call 425-444-7696 or text same or 206-225-3218 or email   jobelifestylerealestategroup.com  or use the most up-to-date real estate search engine out there:  alexjobe.com.  Better, more accurate and more current real estate listings that you need.

If you can’t reach us it’s because you meant to call and didn’t.  We’re here for you.