Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today’s market: you need an experienced professional!
You Need an Expert Guide if You Are Traveling a Dangerous Path
The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home.”
A great agent will also have relationships with mortgage professionals and other experts that you
The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?
If your house hasn’t sold, it is probably because of the price.
If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.
Bottom Line
The housing market is hot. If you are not seeing the results you want, sit down with your agent and revisit
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The National Association of Realtors’ most recent Existing Home Sales Report revealed that, compared to last year, home sales are up dramatically in five of the six price ranges they measure.
Homes priced between $100-250K showed a 20.7% increase year-over-year. This is an impressive increase, showing that November was an excellent month for home sales in this price range.
But surprisingly, the 20.7% increase in sales in this range was not the highest percent change achieved, as sales of homes over $250,000 increased by double-digit percentages with sales in the $750,000- $1 million range showing the largest increase, up 43.2%!
As prices in many markets continue to accelerate, it is no surprise to see the percentage of homes in the higher
The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices.
We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up.
Year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market.
The median price of homes sold in November (the latest data available) was $234,900, up 6.8% from last year and marking the 57th consecutive month with year-over-year gains.
NAR’s Chief Economist, Lawrence Yun had this to say:
Welcome to the latest episode of "What's Working Now!" Today I’d like to answer a question just about everyone asks: Is staging your home worth it?
“Staging” means a lot of things when it comes to selling your home. Primarily, though, it means making the house look appealing to the people coming in. This means taking you, your tastes, your family, and your stuff out of the house. To know how to identify what needs to go, put yourself in the mind of the photographer coming in to take pictures. What do you want in those pictures? You definitely don’t want any family photos festooned everywhere or dirty dishes languishing in the sink.
In the pictures, you want to show off the house, not the furniture. After you’ve cleaned
As we are about to bring in the New Year, families across the country will be deciding if this is the year that they will sell their current house and move into their dream home. Many will decide that it is smarter to wait until the spring “buyer’s market” to list their house. In the past, that might have made sense. However, this winter is not like recent years.
Thinking about buying or selling? You probably have questions. CLICK the link below for a free, confidential 17 minute conversation... LET'S TALK!
Welcome to the latest episode of What’s Working Now!
Today, I’ll discuss why you should sell now instead of waiting. Many people want to wait until after the election or after the holidays; others want to wait for the spring market.
Let’s talk about why you might not want to wait.
Most agents tell their clients, “Let’s wait until after the holidays.” I wonder if they say that because they are on vacation and don’t want to be bothered. I am in town during the holidays, and so are many well-qualified buyers that are ready to pounce. These buyers (and other agents that stay in town) call me daily and ask, “Marjorie, what’s on the market right now? What’s coming up?”
There is so much demand right now, but there is no
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