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June 2016

Found 28 blog entries for June 2016.

3 Reasons to Buy Luxury Property THIS Year!! | Simplifying The Market

For that reason, prices haven’t skyrocketed as they have in the lower and mid-tier markets. This, coupled with sensational mortgage rates, means that this may be the perfect time to purchase the luxury property you have always desired.

Let’s break it down into the three major reasons to act now:

1. There are more homes from which to choose

According to a recent Wall Street Journal article, inventory in the upper end is increasing, while it is decreasing at the lower and mid-tier price ranges. Here is a graph showing the average increase/decrease in inventory for the first four months of this year as compared to last year:

3 Reasons to Buy Luxury Property THIS Year!! | Simplifying The Market

2. Prices are becoming more reasonable

In a separate article, the Wall Street Journal also talked about prices

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BREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers? | Simplifying The Market

Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market.

The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several years. Contrary to what many experts believed, rates have remained low throughout the first half of 2016.

Possible impact of Brexit on mortgage rates?

In a recent article, the Washington Post explained:

“Brexit has spawned the recent bout of volatility in global financial markets. That has anxious investors scurrying for safety -- and few assets are safer than U.S. Treasuries. High demand for government debt pulls down interest

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Gap Between Homeowner’s & Appraiser’s Opinions Narrows Slightly | Simplifying The Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. 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 closed recently) to defend the price when performing the appraisal for the bank.

Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months.

Gap Between Homeowner’s & Appraiser’s Opinions Narrows Slightly | Simplifying The Market

The gap between the homeowner vs. appraiser’s opinion has started to head in the right direction

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Looking for your next home? SEARCH HERE!

How much is your house worth? FIND OUT HERE!

Today I am going to talk about the power of 'Pin-Point' pricing, and how it helped my seller get an extra $150,000!

One of my favorite clients referred another Cleveland Park seller to me. They wanted to ask for $1,450,000. So we test-marketed it.

There wasn't the response we were looking for... So, I explained the concept of 'Pin-Point' pricing.

It's not about pin-pointing the sales price... It's about pin-pointing the price range that will generate multiple offers and the highest sales price!


It's about pin-pointing the price range that will generate multiple offers...


 

So we pin-pointed $1,350,000 and had an open house

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5 Reasons to Sell This Summer | Simplifying The Market

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why:

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas,

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Please stop by...OPEN 1-4pm Sunday, June 26th

5115 Cape Cod Court, Bethesda, MD 20816

Grand, updated brick colonial great for entertaining. 6 bedrooms, 5.5 baths with 2 car garage on quiet cul-de-sac just over the DC line! 2 story foyer, curved stairway, gourmet kitchen & breakfast room with wall of windows, living room with fireplace, formal dining room opens to patio, large family room, office with built-in book cases & deck. Lower level rec room, exercise room &  kitchenette. Move in Condition!

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Please stop by...OPEN 1-4pm Saturday, June 25th

3901 Langley Court #B554

Super sunny, updated 2 level, 3 bedroom with 2 full baths and 2 separate entrances. Fabulous eat-in kitchen, windows on three sides, wood floors & central air. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from the new Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted. Parking available for $35,000, monthly maintenance $42.41.

Monthly condo fee: $783.65 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.

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Thinking You Should FSBO? Think Again [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

 According to NAR's Profile of Home Buyers & Sellers:

  • 88% of buyers look for their new home online.
  • Using a real estate agent can net you $39,000 more than FSBO'ing.
  • There is a long list of people that you will have to negotiate with when you decide to sell your home, using an experienced professional can help ease the process.

 

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Hurry Up and List your House TODAY!! | Simplifying The Market

That headline might be a little aggressive. However, as the data on the 2016 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!

The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist at realtor.com, explained:

“We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.”

And Freddie Mac also expressed a tremendous optimism regarding home sales for the rest of the summer:

“Home sales typically rise in the spring and summer months, and we anticipate acceleration in home sales that will surpass 2007’s pace by late summer.”

The only

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Do Homeowners Realize Their Equity Position Has Changed? | Simplifying The Market

Yesterday, we reported that according to CoreLogic’s latest Equity Report, nearly 268,000 homeowners regained equity and are no longer underwater on their mortgage in the first quarter. Homes with negative equity have decreased by 21.5% year-over-year.

A study by Fannie Mae suggests that many homeowners are not aware of how their equity position has changed as their home has increased in value.

For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 8% of homes are in that position. 

The study also revealed that only 37% of Americans believe that they have “significant equity” (greater than 20%), when in actuality, 74% do!

Do Homeowners Realize Their Equity Position Has Changed? | Simplifying The Market

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