Thursday, December 10, 2015

NAR Report Reveal TWO Reasons to Sell This Winter!

Greetings Friends!

I wanted to share this latest article that highlights just a few reasons that the National Association of Realtors (NAR) suggests winter might actually be a good time for you to list & sell your home!

NAR Report Reveals Two Reasons to Sell This Winter!

"We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house.
Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.


The report announced that pending home sales (homes going into contract) are up 3.9% over last year, and have increased year-over-year now for 14 consecutive months.
Lawrence Yun, NAR’s Chief Economist, expects demand to remain stable through the final two months of the year, and “forecasts existing-home sales to finish 2015 at a pace of 5.30 million – the highest since 2006.” 
Takeaway: Demand for housing will continue throughout the end of 2015 and into 2016. The seasonal slowdown often felt in the winter months hasn’t started and shows little signs of being near.


The most important data point revealed in the report was not sales but instead the inventory of homes on the market (supply). The report explained:
  • Total housing inventory decreased 2.3% to 2.14 million homes available for sale
  • That represents a 4.8-month supply at the current sales pace
  • Unsold inventory is 4.5% lower than a year ago
There were two more interesting comments made by Yun in the report:
1. "New and existing-home supply has struggled to improve, leading to few choices for buyers and no easement of the ongoing affordability concerns still prevalent in some markets."
In real estate, there is a guideline that often applies. When there is less than 6 months inventory available, we are in a sellers’ market and we will see appreciation. Between 6-7 months is a neutral market where prices will increase at the rate of inflation. More than 7 months inventory means we are in a buyers’ market and should expect depreciation in home values. As Yun notes, we are currently in a sellers’ market (prices still increasing).
2. "Unless sizeable supply gains occur for new and existing homes, prices and rents will continue to exceed wages into next year and hamstring a large pool of potential buyers trying to buy a home.” As rents and prices increase, potential buyers will not able to save as much for a down payment and many may become priced out of the market.
Takeaway: Inventory of homes for sale is still well below the 6 months needed for a normal market. Prices will continue to rise if a ‘sizeable’ supply does not enter the market. Take advantage of the ready willing and able buyers that are still out looking for your house.

Bottom Line

If you are going to sell, now may be the time."

If you, or someone you know, are considering selling your home - this winter really might be the best time!
Let me know if you have any questions or if I can be of any help to you & yours.


Thursday, December 3, 2015

Is A "Perfect" Credit Score Required?!

Greetings Friends!

You might be wondering that same question -- is a "perfect" credit score required to get in to the housing market?

Here's a quick look at why you don't have to be "perfect!" (Phew!)

It is possible for you, or someone you may know, to break in to the real estate market!  Why not put your money to work for yourself - instead of for your landlord!

As always, I'm here if you have any questions!



Thursday, November 19, 2015

Holidays, Real Estate & How They Correlate!

 Hi Friends,

I know you’re used to a little blurb here and then we provide you a link to a real estate article that I feel is relevant to our current market.  But today I’m changing it up!

As homeowners, we’ve been through a lot of change over the last decade; double digit price increases in the early 2000’s, the most debilitating crash of 2007 – 2013, the dramatic changes in lending and appraising as a result of the crash, and now a resurging market.  That’s a lot of adjusting.

But one of the most interesting adjustments we, at The McLeod Group, are working through is the increased amount of real estate sales that are happening during the holiday season.

Traditionally, we have looked forward to a “quieting” from about mid-November through New Years.  But these days, we’re finding buyers are willing to continue searching, sometimes even on Christmas Eve!

So what do these Buyers know that the rest of us ignored in the past? 

Plain and simple; there’s less competition.

In a brisk real estate market, buyers are frustrated getting their hopes up about a “home,” writing an offer that is competing, and deeply disappointed when their offer isn’t picked.  But during the holidays Buyers know they’ve got a good shot at getting a contract signed!  And they only have one frustration – little to no inventory.

And what happens anytime there is high demand with low supply? – prices tend to go up!

Crazy, right? 

So, if you’re thinking about selling, NOW could really be the right time.  And here’s some specific reasons why:

·      *   Homes show beautifully with holiday decorations. 
·      *  Showings occur in a smaller window of time during the day because of less daylight,
·      *   Winter Buyers are serious buyers
·      *   And your home might just sell for more!

Please call our office at 971-209-2657 if you think now is the time to sell.  I assure you – there ARE ready Buyers continuing to search for just the right home.  It might be yours!

With Warm Regards,

Thursday, November 12, 2015

Is It Wise to List AFTER The Holidays?

Hi Friends,

Every holiday season I find myself in many conversations with potential & current Seller clients about the pros & cons of having their home listed during the holiday season.  And there are times when those clients opt to either not list OR take their home off the market.

While there are reasons why this might work best for a family, it isn't always the wisest of choices in terms of accomplishing the goal of selling their home. 

Waiting Until After the Holidays Isn't a Smart Decision

1. Relocation buyers are out there. Companies are not concerned with holiday time and if the buyers have kids, they want them to get into school after the holidays.
2. Purchasers that are looking for a home during the holidays are serious buyers and are ready to buy.
3. You can restrict the showings on your home to the times you want it shown. You will remain in control.
4. Homes show better when decorated for the holidays.
5. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:
Supply of Homes | Simplifying The Market

6. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will make a comeback in 2016. This will lessen the demand for your house.

Just a few small reasons why you may want to consider getting your home on the market, even during the holiday season.

Let me know if you have any questions!



Thursday, October 22, 2015

Where Are Prices Headed Next Year?!

Hi Friends!

I'm often asked to try & predict Real Estate trends, and more specifically prices!  Isn't ever Realtor asked this question? Because inquiring minds REALLY want to know!  And that makes complete sense - it's always wise to try and take advantage of the real estate market when it's most beneficial to you.  

But without the power of a crystal ball - I often go turn to information that is shared from our industry leaders.  

Below is a quick graphic with some projections on where home prices will be next year...and as you can see, we're expecting to see continued strengthening in our local real estate market!

If you, or someone you know, is thinking of selling - let our team guide you through the process!

And as always, please let me know if you have any questions!



Thursday, October 15, 2015

4 Reasons to Buy NOW Before Winter Hits!

Hi Friends!

We're already into the thick of fall -- with winter right around the corner!  

Here's a quick article with some insight on why it may be wise for you to take advantage of the real estate market now - before we find ourselves in the middle winter.

4 Reasons to Buy NOW Before Winter Hits!

Though you, or someone you know, may be on the fence about getting in to the market - there really is no better time than now to take that jump.  And we will there with you every step of the way!



Thursday, October 8, 2015

#1 Reason to List Your House Today!

Hi Friends!

Over the past few weeks I've been highlighting why it might be a good time to get in to the real estate market as a buyer (i.e. credit requirements vs mortgage rates); but I also wanted to share why, as a Seller, now is one of the best times to consider listing your home!

As you will see in this article, #1 Reason to List Your House Today, the simple notion of supply & demand puts Sellers in a unique position when selling their home as of late!  

According to NAR, "there are more buyers out in the market right now than at any other time in the past three years."

If you, or someone you know, is considering selling their home, please don't hesitate to call!  



Thursday, October 1, 2015

Is Qualifying for a Mortgage Getting Easier?

Last week I shared that requirements for obtaining a mortgage were easing as interest rates were beginning to creep.

I wanted to pass along this article as well that offers some additional information related to mortgages & the requirements to obtain a mortgage for first-time & next home buyers.

Again, even with the loosening of the reins for qualifying, it is always important to mindful of the trajectory of mortgage interest rates, so that you can take advantage of the market at the best possible time.

Let me know if you have any questions!