Future Home Values - Where Are They Headed?

Hi Friends!

Happy March!  From where I'm at today - March has definitely come "in like a lion" in terms of our weather!  

During my daily reading I made my way to this article and wanted to pass it along to you as well.

Future Home Values: Where Do Experts Think They Are Headed? 

While our market has definitely made a shift to a favorable Sellers market, experts (as you'll see in the article) are expecting the property values to stabilize in the coming years.

What might that mean for you (or someone you know)?  That now might just be the right time to list your home & take advantage of these current values - not to mention high demand from Buyers!

As always, please let me know if you have any questions! And if you, or someone you know, are considering selling your home - our team would love to help you make that move!

~Amy

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 PENDING 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 EXISTING HOME SALES REPORT

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.

~Amy

Source: kcmblog.com 

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:

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!

~Amy


Source: kcmblog.com

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!

~Amy

Source: kcmblog.com

#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!  

~Amy

Source: KCMBlog.com

Credit Score Requirements Lower as Interest Rates Creep Higher!

Hi Friends!

Now is definitely the time to take advantage of the still historically low interest rates before their continue their upward trend!  

Take a look at this graphic -- it's clear that interest rates are heading upward.  

If you or someone you know is thinking of making their first, or next, move - please let us know how we can help!  

~Amy
Source: KCMBlog.com

Why You Should Stop Renting & Buy Today!

Hi Friends!

So many out there, especially in our younger generations, are wondering if now is a good time or not to make that first purchase rather than renting.  Interest rates, property taxes, etc -- they're all things people have to take into consideration.

But take a look at this article to help dispel a few of those concerns: Why You Should Stop Renting & Buy Today!

And if you, or someone you know, is ready to take that next step -- please don't hesitate to call!  Our full service team is ready to help you navigate this path!

~Amy