Click Photo Below For Flipbook VersionFlipbook Version
Click Photo Below For Flipbook VersionFlipbook Version
If one of the questions you’re asking yourself today is, “Should I sell my house this year?” the current Housing Opportunities and Market Experience (HOME) Survey
from the National Association of Realtors® (NAR) should boost your confidence as it relates to the current selling sentiment in the housing market. Even with all the information overload in the media circling around talk of a possible recession, the upcoming 2020 election, and more, Americans feel good about selling a house now. That’s some news to get excited about!As the graph below shows, as of Q4 2019, 75% of people surveyed indicate they believe now is a good time to sell a home:In the case of those with a yearly salary of $100,000 or more, the results jumped even higher, coming in at an 82% positive sentiment.
When the study divided the outcomes by region, the results still consistently showed Americans feeling good about selling:
In addition to looking at income and region, the report also divided the results by generation, as shown in the graph below:As you can see, many believe that, despite everything going on in the world, it is still a good time to sell a home.
According to NAR, the unsold inventory available today “sits at a 3.0-month supply at the current sales pace,” which is down from a 3.7-month supply in November. The current inventory is half of what we need for a normal or neutral housing market, which should have a 6.0-month supply of unsold inventory. This is good news for sellers, as Lawrence Yun, Chief Economist at NAR, says:
“Home sellers are positioned well, but prospective buyers aren’t as fortunate. Low inventory remains a problem, with first-time buyers affected the most.”
If you’re ready to list your home, you can feel good about the current sentiment in the market. Let’s get together today to determine the best next step when it comes to selling your house this year.
Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are six great reasons not to wait:
|Waiting until after the holidays to sell your home probably doesn’t make sense.|
At Keller Williams, one of the top educators in the real estate brokerages, has leaders that bring us informative, thought provoking & adding valuable insight into the economics of real estate – thank you, Anne Lakusta, for continually challenging us to be the best we can be for our clients!
When comparing the month of June over the last 3 years. All data comes from North Texas Real Estate Information Systems, Inc.
Months Supply of Homes for Sale: Month of June
Actually inventory is low because buyers are gobbling up the homes that are for sale. We see over the last 3 years that the new listings are increasing year after year.
As we look closer, buyer demand is high which leads to higher sales prices. Over the last 6 years we see an incredible increase in sales price! Now is the time to sell if there ever was one! We are in a unique moment in time especially with low interest rates…its time to take advantage of the market!
Anne Lakusta says “Make sure your real estate agent is more than a for sale sign! We work hard and take pride in being a true consultant to help your family make the right moves at the right times. Real estate is about wealth building and Triple Crown Realty – Keller Williams can help!!”
We get many questions about option money and earnest money when writing a One to Four Residential Family Contract for our buyers. Today we are going to discuss earnest money.
This video helps to explain earnest money in more detail. It is just one thing among many of the negotiable aspects of the contract. Please watch the video provided by Allegiance title below to help explain what earnest money is and isn’t.
When Buyers and Sellers are reviewing the many components of a One to Four Residential Family Contract it is important they are educated and informed by their REALTOR® such that they understand their obligations as this is a legal and binding contract. We want all our clients to understand that using a REALTOR® who is looking out for their best interest and well educated about the contract is of utmost importance to us and our service to them.
As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.
There are many factors that influence the ‘cost’ of a home. Two of the major ones are the home’s appreciation over time, and the interest rate at which a buyer can borrow the funds necessary to purchase their home. The rate at which these two factors can change is often referred to as “The Cost of Waiting”.
According to CoreLogic’s latest Home Price Index, prices are expected to rise by 5.5% by this time next year.
Additionally, Freddie Mac’s most recent Economic Commentary & Projections Tablepredicts that the 30-year fixed mortgage rate will appreciate to 4.5% in that same time.
Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today: