Some Highlights: June is National Homeownership Month! Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial. What reasons do you have to own your own...
Some Highlights: June is National Homeownership Month! Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial. What reasons do you have to own your own...
There have been many headlines decrying an “affordability crisis” in the residential real estate market. While it is true that buying a home is less affordable than it had been over the last ten years, we need to understand why and what that means. On a monthly basis, the National Association of Realtors (NAR), produces a Housing Affordability Index. According to NAR, the index… “…measures...
As loved ones start to get older, we start to wonder: how long will they be able to live alone? Will they need someone there to help them with daily life? There’s a reason to ask those questions now more than ever, as the average age in the U.S. is 78 years old! As a result, 41% of Americans in the market are searching for a home that can accommodate a multigenerational family. The graph below shows...
In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly. In the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner...
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Some Highlights: The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging. 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market. 50% of staged homes saw a 1-10% increase in dollar-value offers from buyers. 77% of buyer’s agents said staging made it easier for buyers to visualize the home as...
Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks, gold, and savings accounts. For the sixth year in a row, real estate has come out on top as the best long-term investment! That has not always been the case. Gallup explains: “Between 2008 and 2010, covering most of the Great Recession period that...
According to CoreLogic, from 2006 to 2014 “there were 7.3 million housing foreclosures and 1.9 million short sales.” The hesitation some Americans feel after experiencing a foreclosure brings to mind the old saying: “Fool me once- shame on you. Fool me twice- shame on me.” According to the 2019 Home Buyer Report from NerdWallet, “Thirteen percent of Americans have lost a home due to a financial...
Many studies suggest one of the main reasons for the inventory shortage in today’s market of homes for sale is that older generations have chosen to “age in place” over moving. The 2019 Home Buyers & Sellers Generational Trend Report by NAR clarifies this point! NAR’s findings show that Baby Boomers (43%) and the Silent Generation (12%) made up 56% of sellers in 2018! This means the majority of...
In today’s real estate market, low inventory dominates the conversation in many areas of the country. It can often be frustrating to be a first-time homebuyer if you aren’t prepared. In a realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,” the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home...
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