Thursday, May 5, 2022 / by Katy Foster
Many homeowners that are wanting to sell are concerned about how long the amount of work it will take to get their home move-in ready before listing it for sale. In today’s housing market, homes might be closer than you think to being market-ready.
A survey of recent sellers from realtor.com found that many homeowners have been able to get their home ready in less than a month. The report stated, “with many homeowners expecting the sale to go quick, and a lot of contingencies getting excluded, preparing homes for the market took less than a month for over 50% of home sellers this past year, with 20% completing it in less than two weeks.”
With mortgage rates and home prices rising, buyers in today’s market are serious about quickly finding a home. But, there are very few options for buyers to choose from with the limited number of homes for sale. This means that many buyers are snatching up the best they can get and are willing to take on projects; ...
Thursday, March 24, 2022 / by Katy Foster
If you’re a current homeowner, your net worth just got a big boost in home equity. Equity is the current value of your home minus what you owe on the loan. And great news for you, equity today is building faster than you may expect.
Home values are still on the rise due to low housing supply and high buyer demand. Basically there aren’t enough homes available for buyers, so bidding wars are driving the prices up. That means your home is worth more in today’s market, and as home values climb, so does your equity.
Dr. Frank Nothaft, Chief Economist at CoreLogic states that home prices rose 18% during 2021, the largest annual gain recorded in its 45-year history. This is generating a big increase in home equity wealth. According to a Corelogic report, the average homeowner’s equity has grown by $55,300 over the last twelve months, with Florida alone averaging a $76,000 growth in equity!
How does this impact you? In addition to building yo; ...
Thursday, September 9, 2021 / by Katy Foster
Regardless if you are following the real estate industry, there is a good chance that you heard we were in a serious sellers’ market. But what does that really mean? And why are conditions so good for those who want to list their home?
It starts with the number of homes available for sale. A recent report from the National Association of Realtors (NAR) shows housing supply is still at an astonishingly low. Today we have about a 2.5-month supply of homes at the current sales pace. HIstorically, a six month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers.
When the supply of homes for sale is as low as it is right now, it makes it difficult for buyers to find a home to purchase. This creates an increase in competition among buyers which leads to bidding wars. And if buyers know there is a good chance of them being part of a bidding war, they are more than likely to ; ...
Friday, September 3, 2021 / by Katy Foster
As summer comes to an end, does selling your vacation home make sense right now? According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2%.
If you have taken your last vacation for the summer, here are a few reasons why you should consider selling your vacation home this year:
Remote Work Continues to Drive Demand for Vacation Homes
A report from NAR says that based on continuously evolving work needs, there could be more interest in a second home than you actually think.
Recent data shows we’ll likely see a sustained increase in the rate of remote work for the next five years, which means that your vacation home could be highly sought after by certain buyers.
Selling Could Allow You To Upgrade Your Vacation Spot
When demand is high like this, so is the buyer competition. And when competition is strong, buyers will do anything and everything they can to make their offer on your vacation ho; ...