Friday, September 24, 2021 / by Nicole Solari
Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.
Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell.
Sellers, don’t miss out on this unique opportunity. Work with an agent to take advantage of this hot sellers’ market. ...
Monday, September 20, 2021 / by Nicole Solari
If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.
To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says:
“People who move for home-related reasons might need a larger home or a house that better fits their needs, . . . Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing equity.”
If you’ve been. ...
Monday, September 13, 2021 / by Nicole Solari
If you’re on the fence about whether or not you want to sell your house this year, there’s good news. Real estate professionals are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the National Association of Realtors (NAR), puts it:
“The pandemic has confirmed to all of us in the industry that technology will continue to transform real estate.”
Below is a closer look at some of the new tools real estate professionals are using to better serve sellers.
New and Existing Technology Are Impacting the Process
In the 2021 Realtor Technology Survey, NAR asks real estate professionals their opinions on the most valuable pieces of technology for their business over the past 12 months. The graph below highlights the top five. ...
Friday, September 10, 2021 / by Nicole Solari
One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year.
Here are the latest percentages showing the year-over-year increase in home price appreciation:
The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8%
The S. National Home Price Index from S&P Case-Shiller: 18.6%
The Home Price Insights Report from CoreLogic: 18%
The dramatic increases are seen at every price point and in all regions of the country.
Increases Are Across Every Price Point
According to the latest Home Price Index from CoreLogic, each price range is seeing at least a 19% increase year-over-year:
Increases Are Across Every Region in the Country
Every region in the country is experiencing at least a 14.9% i. ...
Wednesday, September 8, 2021 / by Nicole Solari
Even though experts agree there’s no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that’s little comfort to those individuals who are facing challenges today.If you haven’t taken advantage of the forbearance period, it may be time to research and understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this:
“Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Typically, default is triggered when a borrower misses a specific number of monthly payments . . .”
The good news is, there are alternatives available to help you avoid having to go through the forecl. ...