- HOW’S THE MARKET? – 2019
- REASONS HOME PRICES ARE INCREASING
- 5 TIPS TO MAXIMIZE THE SALE OF YOUR HOME
- WHY SELL NOW?
- WILL THERE BE A RECESSION IN 2019?
HOW’S THE MARKET? 2019
Let’s take a look at what’s happening in the housing market across the nation. We are seeing that buyer demand is currently lower and the supply of homes in the market is actually increasing. So you’ve got fewer buyers wanting to purchase a home right now and more homes available. I’ve noticed this also locally. It’s happening right here in our current area. We’re experiencing a slight shift in the number of days on market and we’re seeing more homes on the market. So this can be a sign that we’re heading into a more normal market. Now, remember, the normal market does not mean housing crisis or recession, it just means normal. We’ve had a long stretch of lack of inventory for a very long time and we’ve been seeing this less in across the nation. So if you have any questions at all about the housing market or how it may affect you, don’t hesitate to contact me if you have any questions at all or need help. Please, if you think of anyone that might benefit from this sellers guide, please forward it to them! As always, make it a great home selling and buying day and when you do what you love people love what you do.
HOME PRICES ARE INCREASING
It can take up to 6 (six) months to build a supply of existing salable housing inventory to actually maintain a stable price range in the real estate market. In most cases, homes that are on the market for less than 6 (six) months will cause current home values to appreciate. Anything available for more than 7 (seven) months, will cause home values to depreciate!
It can take up to 6 (six) months to build a supply of existing salable housing inventory to actually maintain a stable price range in the real estate market. In most cases, homes that are on the market for less than 6 (six) months will cause current home values to appreciate. Anything available for more than 7 (seven) months, will cause home values to depreciate! There are many unconfirmed opinions as to why home values are continuing to rise. From those who are worried that lending patterns are again becoming too lenient (which data proves is untrue), to those who are concerned that prices are again comparing to the boom peaks because of “irrational exuberance” (this is also untrue because prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.
According to the Existing Home Sales Report from the National Association of Realtors (NAR), the monthly inventory of houses has been below 6 (six) months for the last 5 (five) years (see chart below).
5 TIPS TO MAXIMIZE THE SALE OF YOUR HOME
I want to talk about five things that you need to make sure you do to maximize the amount of money that you’re gonna make when you sell your house and how quickly you’re going sell your home. The biggest thing is: EXPOSURE. We want to make sure that we expose your house through digital marketing to the masses. We’re actually averaging about 125,000 views on every video that we promote on social media, for each house. Not to mention, around 200 hours of video view on watching one video alone. It’s all done through a detailed digital-marketing plan that’s taken so much time, effort, and energy to really learn and specialize, and we always continue to make it better and better. Now you need to make sure you hire somebody that’s really good at NEGOTIATING. Think about this, if the average agent in Florida only sells six homes a year, are they really able to negotiate on your behalf to the best of their ability?NO! We really are experts at negotiating, we learn even still, and we continue to make sure we’re updating ourselves on what’s new and how we can best sell your home!
Now, something else you need to consider when selling is: PRICE, CONDITION, AND LOCATION.
Here’s the deal, everyone always thinks their house is worth more than it is. Ieven do when I sell my own houses. It’s very, very normal. But youhave to make sure that you aren’t just looking at Zillow. Remember, Zillow is an algorithm. It doesn’t take into effect all the specific features of your house. Itdoesn’t take into effect whether or not you have a pool, your upgrades, OR if the condition is good or poor. All of this is really, really important, right? If any of those things are off, if the condition is off, if thelocation is off, or if you live near a busy, busy street. All of those things affect the price. So make accommodations. You should make an adjustment just like anappraiser would. So remember, exposure andmarketing is super, super important when you’re selling and buying a home. You need to make sure you hire somebody that’s an awesome negotiator and has tons of experience because remember, every single person in the world knows a realtor. There are so many of us! Don’t make the biggest investment of your entire life in the hands of someone who only sells a few houses a year, even only a few houses a month. Go to an expert. Go to somebody who’s going to expose it to the masses, who’s an expert at their game, who takes their job seriously, who does it full time, and has your best interest at heart. Heather Born with Luxury Living Homes would love to help you with anything real estate related. If you’re thinking about buying or selling, please give me a call. We make it a priority to be on the cutting-edge of innovation, technology, as well as market trends so that we can serve our community.
WHY SELL NOW?
Did you know that we have the largest generation entering the housing market right now? You have heard of the millennial’s and they will be going after starter homes or lower priced homes. Another great reason to now act, is that there are many people who are retiring and looking to downsize.
You may be wondering, how does this affect you or how does this benefit you? Well, if you have a starter home and you’ve got what a lot of people want, that creates competition which equates multiple offers and well over asking price. So if you’ve been thinking of selling, its discuss our very unique digital marketing strategy that targets first-time buyers and people who are thinking about downsizing so that we can get you top dollar and buyers who are ALREADY interested. Remember, when you do what you love people love what you do!
WILL THERE BE A RECESSION IN 2019?
According to two separate articles from the Wall Street Journal and Pulsenomics, which surveyed economists and analysts, they’re predicting that we’re heading into recession by the end of 2019. We don’t know exactly what impact it will have. As we know, a recession is when the economy slows up, it’s an economic decline in trade and industry activity. However, it’s really important to understand that a recession does not necessarily equate to a housing crisis. But obviously, when we’re in a recession, we most likely won’t be seeing the huge gains we’ve seen from the 2000 Great Recession which has been the second greatest recovery in American history.
With a recession, interest rates are anticipated to go up, which means that over the life cycle of owning a mortgage, a new home, that you’ll be paying more over the life cycle of the loan. Although the prediction of this recession, which obviously isn’t right around the corner, please rest assure that I’ll be here to pass on any and all information that I’m learning, as I’m learning it, regarding this recession and how it could possibly affect the housing market.
Main Point: Don’t be hesitate on selling your home or purchasing a new one. Prices are at a stand still right now and the inventory is still great! Call us and we can help give you an accurate value or find your dream home.
CONTACT US TO TALK MORE!
We would love to answer your questions and talk more about what you read in this article. We can lead you on the right path to selling your current home or buying the home of your dreams! Look forward to hearing from you 🙂