Sales Hit the Yearly High Last Month

     After a slight decline in August, September has seen the highest number of sales for the current year. If this trend continues, that could mean we have yet to see the highest number of sales for 2014. This beats out the previous high of July, and is staggering compared to the beginning of the year.

     In addition to this news new buyers now make up 30% of all new home sales, which is significantly more than it has been in previous months. Inventory is up, and mortgage commitments as well. These things together spell a great atmosphere to sell your home!

     Unfortunately, these trends can only last so long. By next year, you may not fetch as good of a price, or as many offers. Even if you are just thinking about it, call me about scheduling a consultation so we can find out the real value of your home.

Fannie Mae Says "Go With an Agent!"

While there are many obstacles for those listing for sale by owner, there are certain caveats that you should be aware of when you decide not to use an agent when listing your home.

On Fannie Mae's website under their information section for sellers they have listed a few key points to consider such as determining the value of the house and whether it's the right time. Under their section on how to list, here's what they have to say about going FSBO.

"Select how you'll market and list the home (e.g., with a real estate agent or for sale by owner). There are pros and cons to each, but unless you are experienced at selling homes, it usually makes financial sense to get professional help—homes sold by agents typically sell at a higher price and spend less time on the market. An agent will also help you determine the best pricing for the house, they'll market the home, and they'll be your advocate throughout the process."

While it's true, there are reasons to list FSBO, unless you have real knowledge of selling a home, you are not going to get the same level of experience or professionalism that can net you a significantly better price for your listing than you can yourself. This is because they know that the value of a home is up for discussion, and what to discuss.

Call me today to find out the value of your home, you may be pleasantly surprised!

Buyer Optimism

While buyers are having to outbid competition, they are confident that it is an investment that will pay off in the next few years. Buyers are more optimistic now than ever about making an investment in a home.

 

This graph shows a 100% increase in optimism from the buyers surveyed in 2009, and with good reason. Owning a home is a valuable investment that everyone should strive for. It provides security as you get older and is real value.

New Construction Brings New Competition

Newly built homes are selling faster than they have in the last 6 years, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. With many worried about the lack of inventory for buyers, new homes are being sought out more and more.

Kevin Kelly, chairman of the National Association of Home Builders (NAHB), explains, “This jump in sales activity is in line with our latest surveys, which indicate builders are seeing increased traffic and more serious buyers in the market for single-family homes.”

With an annual rate of about 500,000 new homes built and sold, this news means that sellers should sell now or get out of the way! The competition in the next few years will be fierce for sellers of single family residences.

This year is the optimal time to sell. Inventory is low, prices are good, and there has been no better time than now to list your home! Call me to discuss the value of your home and the possible options available to you, such as upgrading.

Of course, I'm never too busy for your referrals. Please feel free to pass along this information to any home owners you know, it could be a great opportunity for them!

Should You Buy or Sell This Year?

"How's the market?" is one of the most popular questions that real estate professionals are asked. Nationally, home prices are still considered affordable, homes are on the market for less time, interest rates are still low and more than two-thirds of Americans say that now is a good time to buy.

Here's an overview of national housing market trends. If you want to know more about our local market, contact me! I'll be happy to give you the run down on your local market.

 

As you can see, sales are picking up, but that doesn't mean there are no good homes left, or that investors are dominating the market like some may claim.

Optimism for the Future of Real Estate

     Changes to the market have gotten people talking about real estate. Some say that prices are dropping because of less investors buying residential property. Others say that just means it's a great time to buy, and with more than 10,000 houses sold every day in the US, it's easy to see why.

     In a recent survey, it was shown that more than 60% of Americans felt that NOW is a good time to buy. Who else is optimistic about the real estate market? Well, a majority of current renters have owning a home as a determined goal and they feel it is realistic.

     A survey recently showed that of a large random sample of millennials, 74% see themselves moving in the next 5 years and the same number feel that owning a home is an important part of the American dream. A very important statistic is the 73% that felt owning a home was an excellent investment. This is not just unbridled optimism or ignorance. In fact, homes have accounted for nearly a quarter of all wealth in America since 1958.