“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country. Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)

Bottom Line

1. What do you do with all this paperwork?

2. Ok, so you found your dream house, now what?

3. Are you a good negotiator?

4. What is the home you’re buying/selling really worth?

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

5. Do you know what’s really going on in the market?

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Bottom Line

• Greater exposure to more buyers
• The skills of a professional negotiator
• A layer of protection from possible legal liabilities
• Professional guidance in navigating any pitfalls that may arise
• A level of safety while showing the home

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Why would FSBOs net less money on their own than if they used an agent?

• “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids on with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
• “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
• “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

Three conclusions from the study:

1. FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
2. The differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%.
3. The sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Bottom Line

• The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
• Freddie Mac predicts interest rates to rise to 4.4% by next year.
• CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.
• If you are ready and willing to buy your dream home, find out if you are able to!

Some Highlights

• The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
• Freddie Mac predicts interest rates to rise to 4.4% by next year.
• CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.
• If you are ready and willing to buy your dream home, find out if you are able to!

Some Highlights:

• The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
• Freddie Mac predicts interest rates to rise to 4.4% by next year.
• CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months.

1. Price it a LITTLE LOW 

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

Bottom Line

• The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
• First-time homebuyers made up 31% of all sales in August.
• Homes are selling quickly with 51% of homes on the market for less than a month.
• A limited supply continues to drive up prices for the 66^th consecutive month.

Some Highlights

• The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
• First-time homebuyers made up 31% of all sales in August.
• Homes are selling quickly with 51% of homes on the market for less than a month.
• A limited supply continues to drive up prices for the 66^th consecutive month.

Some Highlights:

• The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
• First-time homebuyers made up 31% of all sales in August.
• Homes are selling quickly with 51% of homes on the market for less than a month.

“In the early stages of the economic expansion, home selling sentiment trailed home buying sentiment by a significant margin. The reverse is true today. The net good time to sell share is now double the net good time to buy share, with record high percentages of consumers citing home prices as the primary reason for both perceptions. Such a sizable gap between selling and buying sentiment, if it persists, could weigh on the housing market through the rest of the year.”

Bottom Line

1. Demand Is Strong

2. There Is Less Competition Now

3. The Process Will Be Quicker

4. There Will Never Be a Better Time to Move Up

5. It’s Time to Move on With Your Life

That is what is truly important.

1. Demand Is Strong

2. There Is Less Competition Now

3. The Process Will Be Quicker

4. There Will Never Be a Better Time to Move Up

5. It’s Time to Move on With Your Life

That is what is truly important.

1. Prices Will Continue to Rise

2. Mortgage Interest Rates Are Projected to Increase

3. Either Way, You Are Paying a Mortgage 

4. It's Time to Move on With Your Life

If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

1. Prices Will Continue to Rise

2. Mortgage Interest Rates Are Projected to Increase

3. Either Way, You Are Paying a Mortgage 

4. It's Time to Move on With Your Life

If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supply challenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Bottom Line

“National Home Prices Now 50% Above March 2011 Bottom”

“With home values constantly changing, and the rates of change varying across the country, this is one more way to show how important it is for homeowners to stay aware of their local housing market.”

Bottom Line

So, what does this mean for homeowners and their equity position?

Bottom Line

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity in their homes quickly.”

Bottom Line