13 Friday Dec 2019
Posted in Just Listed, SC Home Sellers, Uncategorized
12 Thursday Dec 2019
Posted in Home buying, Home Ownership, Uncategorized
Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.
Each month, ShowingTime releases their Showing Index, which tracks the average number of appointments received on active U.S. house listings. The latest index revealed:
“Traffic was more active once again compared to 2018, as the nation saw its third straight month of higher year-over-year showing activity…The 5.5% increase in showings nationwide was the largest jump in activity during the now three-month streak of year-over-year increases vs. 2018.”
The same report indicates showings increased in every region of the country:
One of the main reasons buyer traffic has increased year-over-year is that mortgage rates have fallen dramatically. According to Freddie Mac, the average mortgage rate last December was 4.64%. Today, the rate is almost a full percentage point lower!
There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2020, you don’t need to wait until the spring to do it. Your potential buyer may be searching for a home in your neighborhood right now.
03 Tuesday Dec 2019
Posted in Home buying, Uncategorized
Below are five compelling reasons to list your house this winter.
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.
Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.
If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you’re planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.
According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.
Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.
03 Tuesday Dec 2019
Posted in Home buying, SC Home Sellers, Uncategorized
Tags
#Kellerwilliamspreferred, #RMFRealty, #Rozalynfranklinrealtor, #SCRealtor, #Sellyourhomethisholiday
Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.
It may make the most sense to list your home this holiday season. Let’s get together to determine if selling now is your best move.
22 Friday Nov 2019
Posted in Home Ownership, Uncategorized
Tags
#Averagemortgagepayments, #Kellerwilliamspreferred, #RMFRealty, #Rozalynfranklinrealtor, #SCRealtor
21 Thursday Nov 2019
The economy is currently experiencing the longest recovery in our nation’s history. The stock market has hit record highs, while unemployment rates are at record lows. Home price appreciation is beginning to reaccelerate. This begs the question: How long can this economic recovery last?
The Wall Street Journal (WSJ) Survey of Economists recently called for an economic slowdown (recession) in the near future. The most recent survey, however, now shows the economists are pushing that timetable back. When asked when they expect a recession to start, 42.5% of the economists in the previous survey projected between now and the end of 2020. The most recent survey showed that percentage drop to 34.2%. Here are the most current results:
Like the economists surveyed by the WSJ, most experts are still predicting a recession will likely occur sometime in the next few years. However, many are pushing back the date for the economic slowdown.
Real estate is impacted by the economy (and the consumer’s belief in the strength of the economy). The fact that most economic experts are calling for the recovery to continue through 2020 means the housing market will also remain strong for the foreseeable future.
21 Thursday Nov 2019
Posted in House Selling During A Divorce, Uncategorized
One of the most productive ways for couples to move forward and on with their lives is to handle the sale of the family home in a businesslike manner. Because the family home is usually the greatest asset in a marriage, it is also the greatest liability.
Making the sale of the family home a priority can help to eliminate the stress associated with divorce.
Settlement agreements executed by your attorney or financial advisor are great starts. Consult your legal advisor for contingencies that are specific to your situation for advice on how to sell your home during divorce.
This agreement should specify a timetable for the sale of the family home. It should label who is financially responsible for the mortgage, homeowner’s insurance, utilities, upkeep, and any additional expenses.
The agreement should also outline the steps to be taken if the house cannot be sold within a specific time, or if one spouse fails to meet any financial obligations.
Hiring The Real Estate Agent
Hiring the right real estate professional will be top of mind. Both parties or the one occupying the home may choose the real estate professional.
Choosing the right real estate professional is important. Most people personally know a real estate agent. Try to work with real estate professionals experienced in working with couples going through divorce.
There are real estate professionals who focus specifically on helping people who are going through a divorce. Known as Real Estate Divorce Specialists or (Experts), these professional are trained in the legal and tax aspects of divorce.
Handling the family home improperly during a divorce can result in one or both spouse’s inability to qualify for a mortgage for many years. A real estate professional experienced in the divorce niche can provide their clients with step by step guidance to protect themselves.
Determining Property Value
Since the family home is typically one of the most valuable marital assets, dividing the property between a couple during a divorce can be a major source of frustration. There are several common valuation methods available to determine the value of your home. They may differ from what you perceive as your home’s worth.
1. Comparative Market Analysis (CMA): An in-depth review of your home’s worth in the current market based on recent sale of comparative homes.
2. Broker Price Opinion (BPO): A process used by a hired sales agent that determines the potential selling price or estimated value of the real estate property.
3. Professional Appraisal: An independent professional is required when a court is dividing the couple’s assets to determine the fair market value.
Preparation For The Sale
Listing, showing, and preparing the home for sale may fall on the occupying spouse. This is a difficult task that can stir lots of emotions and frustration. There may be some reservations about selling the family home from one party. Roadblocks in the sale process may occur, including denying showings or delaying repairs. This is where the settlement agreement can helpful.
Repairs Before and During the Sale
Preparing the family home for sale may include cosmetic or major repairs such as painting, flooring, appliances, landscaping, etc. There should be clear direction on how to handle the unexpected while in the process of selling the home.
The settlement agreement may cover some or all of the responsibility. Knowing who is responsible will help speed up the process and get the maximum value of the home.
Remember: quick decisions can be damaging, especially when it comes to co-ownership. Even more so when one spouse is occupying the family home until it sells. Keep emotions at bay while making important decisions. Getting the home sold should be both party’s major focus. This will help you and your ex-spouse move on faster.
19 Tuesday Nov 2019
Posted in Home Ownership, Uncategorized
Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice.
This year marks the 75th anniversary of VA Home Loan Benefit offerings through the Servicemen Readjustment Act, also known as the GI Bill. Since 1944, this law has created opportunities for those who have served our country, ranging from vocational training to home loans.
*More information on VA Home Loan Fees
The best thing you can do today to celebrate Veterans Day is to share this information with those who can benefit from these opportunities. For more information, or to find out how to qualify to use a VA Home Loan Benefit, let’s get together to navigate through the process. Thank you for your service!
12 Tuesday Nov 2019
Posted in Home Ownership, Uncategorized
In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.
The U.S. Census Bureau announced,
“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”
Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for generations to come.
If you’re thinking of buying a home, let’s get together to make your dream a reality.
If you’re thinking of buying a home, let’s get together to make your dream a reality.
01 Friday Nov 2019
Posted in Home buying, SC Home Sellers, Uncategorized
Tags
#Buyersorsellersmarket, #Kellerwilliamspreferred, #RMFRealty, #Rozalynfranklinrealtor, #SCRealtor
With today’s advantages for buyers and sellers at different ends of the market, you need an expert on your side to help you navigate the ever-changing waters. Let’s connect and determine if you’re ready to make your next move.