This year has seen a seller's market with a big housing crunch. The pinch began last year when we saw a rise in prices with a lack of inventory. Currently, the crunch is getting even tighter with the rise in mortgage rates. Here are five tips from the pros on how to compete in this hot housing market. 1. Demonstrate Solid Financing The higher the probability of closing the better the offer. All-cash is...
Getting your home ready to sell is a task in itself. Luckily it is still a seller's market so there are tons of buyers that will be interested in your home. Here are some small changes that can make a huge impact on the selling price of your home. Address the Exterior Remember a first impression goes a long way. Before you list your home, work on your home's curb appeal. Small task you can do is prune...
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According to the National Association of Realtors (NAR) annual existing home sales rose to a 15-year high in 2021. Even though the supply chain has had disruptions, the historical low mortgage rates and the strong buyer demand has fueled house sales. Existing home sales across the board did not rise, but first-time buyers' shares spiked 30% in December 2021. All-cash sales were also down 1% to 23% in...
The housing market has been booming for sellers for the past couple of years. The National Association of Realtors reported that overall home sales rose 8.5% in 2021 to 6.12 million. This is the highest annual level since 2006. "December saw sales retreat, but the pullback was more a sign of supply constraints than an indication of a weakened demand for housing," said Lawrence Yun, NAR's chief...
The curb appeal of your home is everyone's first impression. The exterior of your home can make a big impression. A trend that has become popular is wood siding. Here are six ways professionals say you can use wood siding to enhance your curb appeal. 1. Opt for a Beautifully Weathered Facade A super idea that will not fade with age is untreated wood siding. The untreated wood siding looks better with...
The historically low mortgage rates and higher household income has boosted home buying power. According to the Real House Price Index (RHPI), June 2021 saw a 6.8% increase compared to June 2020. Nominal home prices were also reported 32% higher than they were in the 2006 housing boom peak. The Real House Price Index (RHPI) is under the Federal Housing Finance Agency. The FHFA House Price Index (FHFA...
According to the National Association of Realtors, October reported a 7.5% rise in contract signings along with a prediction that 2021 home sales will hit a 15-year high. The rise in existing home sales should go over 6 million with the increase reported in October. Although we have seen a slight increase in mortgage rates and a big increase in home prices, buyers are still very motivated. Sales prices...
Most of the country can tell you that today's market is a sellers' market. Many can tell you this but do they really know what that means and all it entails? The first catalyst for this super hot market is the shortage of inventory. The number of homes available for sale can determine the housing market. According to the National Association of Realtors (NAR) Existing Home Sales Report housing inventory...
The current housing market is a big plus for those who want to sell their home. Home values are constantly increasing because of buyers' demand. In fact, industry leaders predict they will rise 6.6% in 2021. Even in this seller's market, your home should be in tiptop shape. Move-in-ready homes will sell faster and for a higher price. According to almost all of the National Association of Realtors (NAR)...