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July 2017

Found 27 blog entries for July 2017.

Buyer Demand Continues Outpacing the Supply of Homes for Sale | Simplifying The Market

The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

Buyer Demand Continues Outpacing the Supply of Homes for Sale | Simplifying the Market

The darker the blue, the stronger the demand for homes in that area. Only three states had a ‘stable’ demand level.

Seller Supply

The index also asked: “How would you rate seller traffic in your area?”

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Please stop by...OPEN 1-4pm Sunday, July 30th

3540 39th Street NW

1,585 sq. ft. super bright 2 level, 2 bedroom, 2 full baths plus den. Two separate entrances, eat-in kitchen, living room & dining area, huge master bedroom with dressing area and lots of closet space. 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.

Monthly condo fee: $799.32 includes management, general maintenance of common areas, landscaping, trash & snow removal, master insurance policy, reserves, gas, water & sewer.

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Please stop by...OPEN 1-4pm Sunday

4550 Klingle Street NW

Updated & expanded Tudor with 5 bedrooms & 5 1/2 baths. Entry foyer & sitting room with bay windows, living room with stone fireplace, formal dining room, gourmet kitchen & breakfast area, great room with wall of windows opens to large, maintenance free deck, private garden & detached garage. Close to restaurants & shops.

Visit www.4550Klingle.com for architectural photos and color floor plan.

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Inventory Drops Again, Sales Slow [INFOGRAPHIC] | Simplifying The Market

Highlights:

  • Existing Home Sales are now at an annual pace of 5.52 million.
  • Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
  • The median price of homes sold in June was $263,800. This is the 64th consecutive month of year-over-year price gains.

Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK! 

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Americans Still Believe Real Estate is Best Long-Term Investment | Simplifying The Market

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“What is the best way to invest money you wouldn’t need for 10 years or more?”

 

Real Estate came in as the top choice with 28% of all respondents (3% higher than last year), while cash investments – such as savings accounts and CD’s – came in second with 23% (the same as last year). The chart below shows the full results:

Best Investment | Simplifying The Market

The article points out several reasons for these results:

“After bottoming out at the end of 2011 following the worst housing collapse in generations,

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A ‘Buyer’ in Hand is Worth Two in the Bush | Simplifying The Market

In today’s highly competitive seller’s market where there are more buyers than there are homes for them to buy, some sellers may feel like the ball is in their court.

And they would be right when it comes to choosing which offer to accept, the closing date, or even which improvements they are willing to make to their house prior to selling.

One thing to remember though, is that there is always a line that shouldn’t be crossed.

Interest rates can change, financing might not go through, the appraisal might not come back at the price that you have agreed to. These are all opportunities to work with your buyer to make sure that the sale still happens.

You may think that, because buyer demand is so high right now, you can choose to make your

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U.S. Housing Inventory Hits a New Low… List Your House TODAY! | Simplifying The Market

Every summer, families across the country decide if this will be the year they sell their current house and move into their dream home.

Mortgage rates have hovered around 4% for all of 2017, forcing buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year.

Trulia reported that “U.S. home inventory has tumbled 8.9% over the past year and has now fallen for nine consecutive quarters.” There is now 20% less inventory than there was five years ago.

Here is a chart showing the decrease in inventory levels by category:

U.S. Housing Inventory Hits a New Low… List Your House TODAY! | Simplifying The Market

Bottom Line

Demand for your home is very strong right now while your

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Singles Are Falling for Their Dream Home First [INFOGRAPHIC] | Simplifying The Market

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).

Bottom Line

In today’s market, full of bidding wars and tough competition, finding ways to stand out from the rest by getting creative will improve your chances of having a home to call your own.

Thinking about buying or selling? You probably have questions. CLICK the link below for a free,

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Please stop by...OPEN 1-4pm Sunday

4550 Klingle Street NW

Updated & expanded Tudor with 5 bedrooms & 5 1/2 baths. Entry foyer & sitting room with bay windows, living room with stone fireplace, formal dining room, gourmet kitchen & breakfast area, great room with wall of windows opens to large, maintenance free deck, private garden & detached garage. Close to restaurants & shops.

Visit www.4550Klingle.com for architectural photos and color floor plan.

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Please stop by...OPEN 1-3pm Sunday, July 9th

4601 North Park Avenue #409

Spacious one bedroom at the sought after Elizabeth condo. Updated kitchen, wood floors & great closet space. Luxury high rise at Metro with reserved parking, 24-hour front desk, beauty salon/ barber shop, convenience store, exercise room, library, meeting room, newspaper service, party room, indoor pool, sauna spa.

$888.67 per month includes water, sewer, heat, electricity, trash removal, snow removal, professional managmenet, maintenance, lawn care, master insturance policy, reserve fund and all amenities.

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