Lets Take Advantage of the Season!

Real estate experts and economists agree that the housing industry is gaining momentum. If you are planning to put your home on the market for the traditional Spring selling season, be advised that Spring has sprung early this year!

Need proof? Here are just a few of the latest headlines from some of the most respected news organizations:

•    Home Selling Season isn't Waiting Until Spring This Year – L.A. Times, Jan. 20 


•    Housing Offers Hope of Strength in the Economy – New York Times, Jan. 24 


•    Housing Emerges as Economic Bright Spot After Years in the Dark – Washington Post, Jan. 28

•    Home Prices Climb by Most in Six Years as U.S. Market Firms – Bloomberg, Jan. 29

Essentially, low interest rates, rising rents and a positive economic outlook are driving buyers who want to realize the dream of homeownership. With limited housing inventory, buyers are competing against one another for those properties that are priced well. This results in bidding wars, which drive up housing prices.

The message is clear for sellers. Right now is a prime opportunity to sell a home. Sellers need to ensure their property stands out from the competition with proper price positioning and home presentation. If the home is priced right and in good condition, it will sell quickly.

Buyers shouldn’t sit on the fence either. With a lack of inventory, the competition for that perfectly priced dream home is becoming fierce. Come prepared with solid financing, be ready to make a quick purchase decision and be reasonable with your offer and expectations. In some communities and price points, the buyer’s market has already tipped towards a seller’s market.

As all real estate is local, give me a call (410-235-4100/410-493-6854) so that I may provide you with a competitive market analysis and review current market conditions with you.


Changing seasons are inevitable, so take advantage of this season while it’s here! 

Happy New Year!

Happy New Year! Many real estate industry watchers and economists agree that the real estate market is once again a bright spot in the economy as existing home sales continue to improve.

According to the National Association of Realtors^® (NAR), total existing-home sales in November rose 5.9% from October, and are 14.5% higher than November 2011 nationally. Additionally, the national median existing-home price for all housing types in November was up 10.1% from November 2011. This is the ninth consecutive monthly year-over-year price gain.

One question is still at the forefront of many minds. Will the housing market continue to improve in 2013? It's not easy to predict what the market will do in the coming year. However, there are some key indicators to follow and the indicators are positive.

Most agree that growth in the housing market is largely based on the stability of the job market. As reported in Bloomberg, the U.S. Labor Department announced that applications for unemployment insurance payments fell in the week ending December 22, bringing the average over the past month to the lowest level in more than four years.

Lower mortgage rates and higher rents continue to bring more buyers into the market. Buyers also want to take advantage of lower home prices before they rise. Increasingly low levels of inventory are pushing prices higher as bidding wars and competition escalate.

For buyers, the message is clear. If you want to own a home, you should act now. The factors are currently in your favor. For home sellers, the time to sell could be in your favor as well. With lower levels of inventory, you face less competition. With prices steadily rising, you may find yourself in a position to take advantage of increasing equity.

If you are in the process of buying or selling a home, lets discuss these factors. I can explain how pending sales and inventory levels will impact your home buying or selling goals and success.

I anticipate that 2013 will continue to bring a revived economy and a growing housing market. I look forward to welcoming in the New Year and assisting you with all of your real estate needs in 2013 and beyond.

Cold Outside but Market Still Hot

As we prepare for the winter months ahead, many home sellers consider taking their home off the market. Don't do it! In the same vein, if you're debating whether to wait until spring to put your home on the market, don't wait.

Buyers shouldn't wait either. If you are interested in purchasing a home and currently sitting on the fence, you may just lose the opportunity to own your dream home, or pay a great deal more for it.

For the first time in a very long time, industry experts and watchers have been very consistent about the status of the real estate market and they all agree; activity is increasing and prices are rising. There is substantial data that reflects their opinions.

According to the National Association of Realtors^® (NAR), pending home sales are the highest they have been since March 2007. On a year-over-year basis, pending home sales have risen for 18 consecutive months. Prices are rising, as well. According to the S&P/Case-Shiller Home Price Indices, home prices rose over sixth straight months. As reported in Bloomberg, property values in 20 cities climbed 3% from September 2011.

Consumer confidence in the economy and an improving job market are certainly important factors. Additionally, the steady increase in rental costs and incredibly low mortgage rates are driving more and more buyers into the market, creating fierce competition. There is also an incredible lack of inventory. With fewer homes to choose from, buyers are suddenly finding themselves in bidding wars that are essentially driving up the prices.

For sellers, the message is very clear. Put or keep your home on the market, regardless of the winter season, and ensure that the property is in excellent showing condition. With increasing prices, move-up buyers may suddenly find there is enough equity to make a move. Essentially, it is an excellent time to sell a home.

If you are in the market to buy, you will need to come prepared with financing and be ready to make a quick purchase decision and a reasonable offer. Ensure that you are more prepared than your competition, placing yourself in a better position to obtain your dream home.

If you want to gauge whether or not the time is right for you to make your move, call me today to personally assist you throughout the entire home listing, selling and purchasing process!

Make The Most of This Rare Opportunity!

Last spring, we witnessed some very advantageous dynamics for home sellers. Active buyers, anxious to take advantage of low interest rates and prices, flowed into the marketplace bringing with them bidding wars and quick home sales. Hundreds of thousands of home sellers and homebuyers achieved their goals. Do you think that you may have missed your opportunity? Think again.

According to the National Association of Realtors^® (NAR), pending home sales in September are up 14.5 percent above September 2011. Additionally, the amount of time homes are staying on the market has dropped 11 percent in the last year according to the latest Realtor.com data, telling us that buyers are still quick to make a purchase decision.

Lower levels of inventory, extremely low interest rates, and rising prices, are propelling buyers to act now. According to a recent release by NAR, total housing inventory available for sale is 20 percent below a year ago. When inventory levels drop, it signifies less competition for the home seller and limited choice for the buyer, which results in higher sale prices. The national median existing-home price for all housing types was up in September, 11.3 percent from a year ago according to NAR.

In the article, A New Housing Boom, by CNN Money, industry watchers are forecasting that home prices could be back to peak levels by 2015. With rising prices however, one can expect rising construction. According to the same article, many experts are forecasting home construction to grow by at least 20 percent a year for the next two years, meaning that home sellers will have more than enough competition in the near future.

How does this information impact you? If you are thinking of putting your home on the market, there is a window of opportunity right now that shouldn't be missed. Buyers are active, prices are gaining strength, and with limited competition at this moment, the same opportunity that was available last spring, could be yours today. With increasing prices, move-up buyers may find that they have enough equity to finally make their move.

Contact me today to determine if now is the right time for you. I can help you make the most of this rare opportunity!

Who says spring is the best season to sell a home?

While some believe the optimal time to put a home on the market is in the spring, selling a property during the fall months has several distinct advantages for homeowners to consider.

During the fall, there are typically fewer homes available for sale than in the spring and summer. This means less competition and properties on the market are more likely to make an impression. This fall offers a serious opportunity to have a home stand apart in the market.

National trends show buyers are out in greater force, taking advantage of excellent housing affordability and driving up home sales and prices. According to the National Association of Realtors^®, existing home sales rose 7.8% in August from the month before, and were 9.3% higher than a year prior. Median home prices also rose for six straight months, year-over-year. And according to the Wall Street Journal, consumer confidence increased in September to its highest level since February, suggesting that spending could rise and help the economy. These are positive indicators heading into the fall market.

Consumers touring homes during the colder months are serious buyers and eager to purchase a new residence. Many of those home seekers need to purchase a home because they are relocating to the community due to a job or lifestyle change.

  

Fall also presents an opportunity to spruce up a home and make it shine to fit the upcoming holiday season. Open the blinds and curtains to let in more natural light and stage the home with pumpkins, wreaths and other festive decorations. Set the thermostat at a comfortable temperature, warm and welcoming if cold has settled in outdoors. If the home has a fireplace, arrange furniture so it is the centerpiece of the room. Staying on top of a property's upkeep shows buyers the current owners have been diligent about maintaining their home in good condition. Rake leaves regularly, and clean gutters and downspouts. Bare trees will make flaws in a home's exterior more visible, so fall is a good time to power-wash and touch up exterior paint.

Using data gathered from your specific community, I can provide and explain the specific factors that could impact your decision making process. You just may discover that fall really is the perfect time to move forward with the lifestyle you desire and I am happy can help!