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March 7, 2018 0 Comments

Bidding Wars Abound… How Long Will They Continue?

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner. CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse Report and found that a third of homes sold for at least list price. “The share selling above list

September 12, 2017 0 Comments

4 Reasons to Buy a Home This Fall!

Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year

September 8, 2017 0 Comments

Do you need new art for your home?

Now you can get a curator to help you make your selections for free and on a budget. Saatchi art is a great way to branch out and re-imagine your home with professional guidance. You first take a survey to help them understand your taste and what you are looking for. Next you upload a picture of your space and then wait for a curator to be in touch. No pressure, no sales pitch and all from the comfort of your own home. Click here to read more:

September 8, 2017 0 Comments

Do You Know How Much Equity You Have in Your Home?

CoreLogic’s latest Equity Report, revealed that 91,000 properties regained equity in the first quarter of 2017. This is great news for the country, as 48.2 million of all mortgaged properties are now in a positive equity situation. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “One million borrowers achieved positive equity over the last year, which means risk continues to steadily decline as a result of increasing home prices.” Frank Martell, President and CEO of CoreLogic, believes this is a great sign for the market in 2017 as well, as he had this to say: “Homeowner equity increased by

September 8, 2017 0 Comments

Homeowners: Your Home Must Be Sold TWICE

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal. If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank. Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house

September 8, 2017 0 Comments

The High Impact of Low Interest Rates on Your Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest

September 8, 2017 0 Comments

The 5 Greatest Benefits of Homeownership

Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Homeownership can help you build equity over time. Your monthly payments will remain stable. You may have some tax benefits. You can take pride in ownership. Homeownership improves your community. Let’s expand on each of Freddie Mac’s points: Homeownership can help you build equity over time. Every three years, the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times

September 8, 2017 0 Comments

Singles Are Falling for Their Dream Home First

Some Highlights: According to NAR’s Profile of Home Buyers & Sellers, the share of recent homebuyers who were single at the time of purchase held steady at 24% last year. The percentage of first-time buyers who were single females rose to 17% (up from 16%), as the share of single men dropped from 11% to 8%. The primary reason for buying a home amongst singles was the desire to own a home of their own (38% for women and 37% for men).

September 8, 2017 0 Comments

More Boomerang Buyers Are about to Enter the Market

We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019. Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “possibly send a flood of more homebuyers into the housing market.” The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million

September 8, 2017 0 Comments

Why Is It Important to Use a Professional to Sell Your Home?

When a homeowner decides to sell their house, they obviously want the best possible price for it 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 the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the first step that “…44% of recent buyers took in the home buying process was to look online at

September 8, 2017 0 Comments

Study: FSBOs Don’t Save Real Estate Commission

One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it. A new study by Collateral Analytics, however, reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent. In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that: “FSBOs tend to sell for lower prices than comparable home sales, and in many cases below

September 8, 2017 0 Comments

Empty Nesters: Best to Remodel or Time to Sell?

Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make: Remodel your house to fit your current lifestyle and needs Sell your house and purchase the perfect home Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution? If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs.

August 14, 2017 0 Comments

StreetEasy Alert! StreetEasy has changed and this is IMPORTANT to you!

What has changed on StreetEasy and why this is important to you?! StreetEasy is now charging brokers $3 a day to post rentals. Due to this StreetEasy lost 55% of their rental listings on July 18th. Even as a renter you should work with a broker to make sure you are seeing all the listings that are available to you in the RLS (Residential Listing Service). As a landlord you should speak to your broker if you want to know if they will be marketing your listing on StreetEasy. StreetEasy also implemented a program where brokers can pay to have

August 11, 2017 0 Comments

Price Right!!

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them. There is no “later.” Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a