Should You Sell Before Spring?!

Hi Friends!

Last week a ground hog (aka "Punxsutawney Phil") didn't see his shadow & foretold of an early spring! Which is great news for all our gardens!

But it got me thinking -- would it be best for Sellers to continue to wait until Spring has sprung to list their homes? Take a look at this short article that offers some great points on why listing your home now might actually be in your favor:

"No Matter Which Groundhog You Listen To, You Should Sell Before Spring!

Is spring closer than we think? Depending on which Groundhog you witnessed today, you may have less time than you think to get your home on the market before the busy spring season.

Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.

Here are five reasons to sell now.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!

Take advantage of the strong buyer activity currently in the market. 

2. There Is Less Competition Now

Housing supply just dropped to 3.9 months, which is well under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last three years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will increase in the spring. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend itself to a smoother transaction.

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

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.4% over the next 12 months according to CoreLogic. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by three-quarters of a percent by the end of 2016.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important."

Demand is high my friends -- and our inventory is lagging to meet that demand, which creates a desirable environment for Sellers!  If you, or someone you know, are considering selling their home - we are here to help!

As always, please let me know if you have any questions at all!

~Amy

Source: KCMBlog.com

8 Ways to Boost Your Home Value!

Greetings Friends!

Can you believe that January is already nearly over?! It always takes me by surprise how quickly time can pass!

But with many of us still committed to our New Year's resolutions - I thought there may be some of you who have house projects on your list & consequently may be wondering what items are worthwhile projects when thinking long term and/or best return.

I came across this article in my reading & thought it offered great insight on just that topic!

8 Ways to Boost Your Home Value

From big ticket items to small staging changes - there are are many ways to help increase your home's value.  

And if you, or someone you know, are considering listing your home - this list of items might be especially helpful!

As always, please let me know if you have any questions at all!

~Amy

Source: Yahoo.com/realestate 

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 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!

~Amy

Source: KCMBlog.com

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,

Amy

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