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Blog Archives: July 2018

The #1 Reason to Put Your House on The Market TODAY!

July 30, 2018
Keeping Current Matters
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true. The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In ...

4 Reasons Why We Are Not Heading Toward Another Housing Bubble

July 26, 2018
Keeping Current Matters
With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s market is quite different than the bubble market of twelve years ago. Here are four key metrics that will explain why: Home Prices Mortgage Standards Foreclosure Rates Housing Affordability There is no doubt that home prices have reached 2006 levels in many markets across the country. However, after more than a decade, home prices should ...

You Need an Agent Who Will Put You First

July 24, 2018
Keeping Current Matters
When it comes to buying a home, whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move into, as well as the trends of that area, should be your goal. One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy. For those who aren’t familiar, the character Phil is a Realtor with a huge heart who always strives to ...

Lack of Listings Slowing Down the Market

July 23, 2018
Keeping Current Matters
As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing market will continue to strengthen throughout 2018. However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory! If you are thinking about selling, now may be the time. Demand for your house will be strongest while there is still ...

6 Home-Selling Myths You Need to Stop Believing Immediately

July 20, 2018
Dori Zinn
When you get ready to sell your home, you might very well have a false sense of security. After all, you got through the hard part of buying. Now all you have to do is call a Realtor, put your home on the market, and wait for the buyers to line up. Selling will be a breeze, right? Of course not! Selling a home is as much a science as buying one is. And lots of people who've been there before will want to tell you how it's done. Beware of these (well-meaning) storytellers, and don't fall for some of the most common misconceptions about ...

Demand for Homes to Buy Continues to Climb

July 19, 2018
Keeping Current Matters
Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market. According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012. NAR’s ...

6 Home Appraisal Myths You Need to Stop Believing Immediately

July 18, 2018
Cathie Ericson
Putting your home up for sale can be an emotional endeavor. After you come to terms with saying goodbye to a place where you created countless memories, some stranger with a clipboard comes along and puts a value on what's priceless to you. And that assessment has the power to tank the entire sale. Yes, the appraisal is one of the scariest parts of the home-selling process—and one of the most confusing. After all, why is somebody valuing your home after you've already determined a listing price and received an offer? Plus, you're never ...

4 REAL Reasons Why We Buy A Home!

July 17, 2018
Keeping Current Matters
We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones. Between the best neighborhoods and the best school districts, even buyers without children ...

Millennials Are Skipping Starter Homes for Their Dream Homes

July 13, 2018
Keeping Current Matters
A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes. According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.” A recent CNBC article revealed that there ...

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!

July 12, 2018
Keeping Current Matters
Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’ The 5 reasons you NEED a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up st ...

Can Your Real Estate Agent Answer These Important Questions?

July 11, 2018
Keeping Current Matters
Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry ‘lingo,’ but you should expect so much more than that. The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few: What ...

2 Ways to Get the Most Money from The Sale of Your Home

July 10, 2018
Keeping Current Matters
Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of ...

The #1 Reason to List Your House for Sale NOW!

July 09, 2018
Keeping Current Matters
If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait! The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory: “Inventory coming onto the market during this year’s spring buying season– as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand. That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster ...

3 Issues Facing Today’s Real Estate Market

July 06, 2018
Keeping Current Matters
Last week, the National Association of Real Estate Editors (NAREE) held their 52nd Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called “Top Ten Issues Affecting Real Estate™,” given by Joseph Nahas, Jr., Chair of the Counselors of Real Estate & Senior Vice President of Equus Capital Partners. The Counselors of Real Estate (CRE) “is an international organization of high profile property professionals which include principals of prominent real estate, financial, legal, and accounting firms ...

Why Should You Use A Professional to Sell Your Home?

July 03, 2018
When homeowners decide to sell their houses, they obviously want to get the best possible pricefor their home with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold. In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors’ 2018 Home Buyer & Seller ...

Don’t Wait to Sell Your House! Buyers Are Out Now

July 02, 2018
Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market. It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of ...

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