March 14, 2019 rummy

Following common practice of holding back from selling until Spring may be a cliche. But truth be told, it’s a wise and conservative choice that has proven beneficial to the housing market. Nevertheless, with the number of sellers popping up from all directions. Holding off now is not the best thing to do. Let’s dive a little deeper into some of the recent reports that have been released and what they mean for the spring buying season! 1. National Association of Realtor’s Existing Home Sales Report Sales of existing homes were down for the third consecutive month in January. Some…

March 13, 2019 rummy

Although setting an attractive price on your home definitely boosts its sellability, it’s not the only way to go. Here are other ways to put up a great show to leave a solid impression to your potential buyers and give them the WOW factor they all subconsciously crave for. Here are a few ideas for how to do this in this era of technology. 1) Facebook Live Virtual Open House This can also work as a ‘preview’ before an official Open House. Let your agent walk potential buyers through your home using a webcam or cell phone, highlighting the unique…

February 21, 2019 rummy

Pricing your home right is one of the most challenging part of the sales process, too low may mean a loss on your end, on the other hand, you can be at risk of having a stale listing if you price it too high. If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018. The map below shows the results of the latest index by state. Real estate…

February 19, 2019 rummy

If you’re thinking of selling your house this year, now is the best time to do it. The saying “the early bird catches the worm” may sound cliche, but it’s on point with the law of supply and demand. A lot of sellers hold off until spring, and it’s a great opportunity for others to take advantage of less competition to have the prospective buyers all to themselves. The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison…

February 15, 2019 rummy

One of the things that add up to the stress of selling a house is cleaning up. Believe it or not, most people spend days to weeks on end trying to tidy up their home in preparation for selling. Well, we have good news for all you prospective sellers. The KonMari Method is here to save the day. Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes. “The KonMari Method encourages…

February 12, 2019 rummy

The value of a certain property plays a vital role in pricing during the selling process. It is essential to know your home’s current value to reinforce and be able to competitively set a price for it. Here is a list of factors that affect a home’s value. “Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.” The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report. Since 2011 home values have increased significantly…

February 7, 2019 rummy

Historically, most people wait until spring to enter the market either to sell or buy. In recent years, however, there has been quite a number of Americans observed to be active in the market and has been successful with their endeavors. Taking advantage of less competition is indeed a wise approach. The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018: Putting your home on the market now, rather than waiting for increased competition in the spring,…

January 23, 2019 rummy

Unlike last year when sellers can aggressively put a price on their houses and still come up successful in selling, this year will be slightly challenging. More inventory means more option for the buyers and they almost always certainly look at the price first. As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search! Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to…

January 18, 2019 rummy

When it comes to selling, one of the biggest thing we have to consider is competition as strict competition almost always ensures sellers get less than their intended price. Here’s a graph on the number of listing by month. In a recent interview discussing the housing market, First American’s Chief Economist Mark Fleming put it simply: “The biggest challenge is really the availability of supply.” When we look at available inventory numbers released by the National Association of Realtors (NAR), we see that the actual number of homes for sale has decreased in each of the last five months. What…

January 16, 2019 rummy

If you’re planning on selling your house this year and want to get the best out of your selling experience. We recommend you follow these two simple tips to avoid unnecessary sales costs. 1. Price it a LITTLE LOW This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price…