We all realize that the best time to sell anything is when demand is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that now continues to be a great time to sell your house.
Let’s look at the data covered by the latest Pending Home Sales Report and Existing Home Sales Report.
THE PENDING HOME SALES REPORT
The report announced that pending home sales (homes going into contract) are up 2.4% over last year, and have increased year-over-year now for 22 of the last 25 consecutive months.
Lawrence Yun, NAR’s Chief Economist, had this to say:
"The one major predicament in the housing market is without a doubt the painfully low
Today I’d like to answer a question from Elizabeth who recently asked about whether it would be possible to buy a new house when she needs to sell her current one to cover the down payment.
Because we’re in such a seller’s market right now, it’s common for people to be afraid of this situation. Though some buyers may be worried about including a contingent contract—one that makes the purchase of the new home contingent upon the sale of their current home—I’ve made contingent offers several times, and most of the time, they have worked out.
The best way to arrange this would be to find a property that has been sitting on the market for at least two weeks because, in our market, two weeks can be a long time for a seller. If you find
Stunning, updated, 2 bedroom loft with cathedral ceiling, skylight, fan window, amazing park views, washer & dryer, wood floors & new HVAC. Pool, tot lot, BBQs, public dog park, tennis, playground, shops, community garden, parkland trails, near Giant, CVS, restaurants & more. 1 dog, 2 cats, or 1 dog plus 1 cat permitted.
According to the Census Bureau, millennials have overtaken baby boomers as the largest generation in U.S. History. Millennials, or America's youth born between 1982-2000, now represent more than one quarter of the nation’s population, totaling 83.1 million.
There has been a lot of talk about how, as a generation, millennials have ‘failed to launch’ into adulthood and have delayed moving out of their family’s home. Some experts have even questioned whether or not millennials want to move out.
The great news is that not only do millennials want to move out… they are moving out! The National Association of Realtors (NAR) recently released their 2016 Profile of Home Buyers and Sellers in which they revealed that 61% of all first-time homebuyers were
The National Association of Realtors (NAR) keeps historic data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.
Why the dramatic increase?
The reasons for this change are plentiful. The top two reasons are:
The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property).
The uncertainty of the economy made some homeowners much more fiscally conservative about
Are you thinking of buying a home? Are you dreading having to walk through strangers’ houses? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of buying. A great agent is always worth more than the commission they charge, just like a great doctor or great accountant.
You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish an average agent from a great one.
Here are the top 4 demands to make of your real estate agent when buying a home:
1. Tell the Truth About the Price
When making an offer on the home you want to buy, make sure that your agent walks you through their plan for getting both the seller – and
Take a walk through 3031 Macomb Street with the owner, Catherine Armington. View architectural photographs and color floor plans at www.3031Macomb.com. For more information, or to see home for yourself, email Marjorie@MarjorieDickStuart.com
It Just Got a Lot Easier to Sell Your Home for More Money! If you are thinking of selling in the next 3-7 months, ask Marjorie to share her clients' success stories. Just write to: success@MarjorieDickStuart.com
P.S. Remember to ask about her innovative marketing strategies and proven, "Savvy Seller" 3-Step Sales System.
A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification.
For many, the mortgage process can be scary, but it doesn’t have to be!
In order to qualify in today’s market, you’ll need to have saved for a down payment (the average down payment on all loans was 11% last month, with many buyers putting down 3% or less), a stable income and good credit history.
Throughout the entire home buying process, you will interact with many different professionals, all of which perform necessary roles. These professionals are also valuable resources for you.
Please stop by...OPEN 1-4pm Saturday, October 29th
3817 Garfield Street NW, Washington, DC 20007
Sunny, semi-detached brick home with a large front porch, entry foyer, updated kitchen, living room with fireplace, separate dining room and den on the first level. Upstairs are three bedrooms, two full baths and a den, downstairs is a large room for guests, full bath, family room or office, storage and sliding doors to a huge, flat, fenced in yard with a carport. Close to Cathedral Commons grocery and shops, National Cathedral, Shops on New Mexico Avenue, Georgetown, more.
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