Sales Contracts Hit Highest Level in Months
The National Association of Realtors (NAR) just announced that the February Pending Home Sales Index reached its highest reading since July 2015.
The Top 5 Reasons You Should Not For Sale By Owner
In today's market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.
Here are five of those reasons:
Home Sales Up Year-Over-Year [INFOGRAPHIC]
Some Highlights
- This is the 48th consecutive month with year-over-year price gains.
- Lawrence Yun, NAR's Chief Economist says that, "The main issue continues to be a supply & affordability problem. Finding the right property at an affordable price is burdening many potential buyers."
- Inventory is still below historic norms at a 4.4 month supply.
91.5% of Homes in the US Have Positive Equity
CoreLogic’s latest Equity Report revealed that one million borrowers regained equity in their homes in 2015. The outlook for 2016 remains positive as well, as an additional 850,000 properties would regain equity if home prices rose another 5% this year.
3 Charts That Scream ‘List Your Home Today’
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
Lack of Inventory Challenging Many Housing Markets
Going into the 2016 spring market, the biggest challenge the real estate industry has is the lack of available housing inventory for sale. Here are a few experts and their thoughts on the subject:
The Main Reason to Use a Real Estate Professional when Selling Your House
Every homeowner hopes to accomplish five goals when selling their home:
Gap Between Homeowner’s & Appraiser’s Opinions Widen
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.
What If I Wait Until Next Year To Buy A Home?
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.
The Difference An Hour Makes This Spring [INFOGRAPHIC]
![The Difference An Hour Makes This Spring [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2016/02/The-Difference-a-Hour-Makes-STM.jpg)
Some Highlights:
- Sunday, March 13th, we "Spring Forward" one hour for Daylight Savings Time (except for our friends in HI & AZ).
- Every hour in the United States, 624 homes will sell and 118 homes will regain positive equity.
- The median home value will also increase each hour in the United States by $1.84.
Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming
We recently reported that home prices are continuing to rise across most of the nation. This has created concern in some pundits that a housing bubble, like we saw ten years ago, is forming again. We want to explain why these concerns are unfounded.
Housing Market To “Spring Forward” This Year
Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.
Home Prices Up 5.76% Across The Country! [INFOGRAPHIC]
Some Highlights:
- The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
- In the report, home prices are compared both regionally and by state.
- Based on the latest numbers, waiting to move may end up costing you more!
14,986 Homes Sold Yesterday... Did Yours?
There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is... If it hasn't sold yet, maybe it's not priced properly.
How To Get The Most Money When Selling Your House
Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.
Existing Home Sales Inch Up In January [INFOGRAPHIC]
![Exising Home Sales Inch Up In January [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2016/02/EHS-FEB-STM.jpg)
Some Highlights:
- Existing Home Sales rose to an annual rate of 5.47 million, representing an 11% increase year-over-year.
- Inventory levels remain below the 6-month supply needed for a normal market at a 4.0-month supply.
- Lawrence Yun, NAR's Chief Economist, warns: "The spring buying season is right around the corner and current supply levels aren't even close to what's needed to accommodate the subsequent growth in housing demand."
Low Inventory Causes Home Prices to Accelerate
The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price report earlier this month. The report revealed that home prices are not only continuing to rise but that the increases are accelerating. Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:
Future Home Values: Where Do The Experts Think They Are Headed?
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.
Play Chess… Not Checkers
Checkers is a simple game with a simple objective; eliminate the other player’s pieces. Even the process of doing so is simple, jump the other player’s pieces and start a collection. There is very little thought as to a defensive strategy and it is often more reactive than strategic.
How Do You Know If You've Found Your 'Perfect Match'? [INFOGRAPHIC]
![How Do You Know If You've Found Your 'Perfect Match'? [INFOGRAPHIC] | Simplifying The Market](https://files.keepingcurrentmatters.com/wp-content/uploads/2016/02/Perfect-Match-STM.jpg)
Some Highlights:
- Every agent brings a different set of skills & specialties to their clients.
- It is important to find an agent who you can trust to guide you through the entire process step-by-step.
- Having a conversation about your goals & expectations will not only save you unneeded frustration, but will also make the transaction as smooth as possible.
Final 2015 Housing Numbers Now In
Many have questioned the stability of certain sectors of the U.S. Economy, one section in particular is the housing market. Today we would like to share how the experts feel about how we ended 2015 and where they think we are headed in 2016.
How did we do in 2015?
Do You Know How Much Equity You Have In Your Home? You May Be Surprised!
CoreLogic’s latest Equity Report revealed that 256,000 properties regained equity in the third quarter of 2015. This is great news for the country, as 92% of all mortgaged properties are now in a positive equity situation.
What You Don’t Need To Hear From Your Listing Agent
You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:
Homes Selling Quickly Across The Country
According to the National Association of Realtors’ (NAR) Existing Home Sales Report, homes were on market for an average of 58 days in December. This was slightly longer than the 54 days in November, but still better than the 66 days experienced in December 2014.
Will Appraisals Continue to be a Challenge in 2016?
First American Title issues a quarterly report, the Real Estate Sentiment Index (RESI), which “measures title agent sentiment on a variety of key market metrics and industry issues”. Their 2015 4th Quarter Edition revealed some interesting information regarding possible challenges with appraisal values as we head into 2016.
