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Suffering from “buyer fatigue” is a real thing

for sale sign outside houseAlthough home prices remain strong, the volume of home sales has dropped off during June. This is causing some in the media to exhibit “housing derangement syndrome” by reporting a pending housing collapse. However, there is a more sensible answer and that may be “home buyer fatigue.” Buyer fatigue is not solely used in real estate; rather it’s a term to describe consumers who do not engage in a market sector for a short duration for various reasons. Home buyer fatigue has occurred multiple times since 2013 after a period of sustained home price increases.

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Timing is everything in the housing bubble

for sale sign outside houseTiming, as they say, is “everything.” Predicting the housing market is tricky. Even the best economists can get it wrong. Aptly, however, there is that group of naysayers who always believe the housing market is overpriced and in bubble status. And you know what they say about a broken clock, it’s correct twice a day. 

There’s no way around it, housing market trends are cyclical. Eventually, the housing market will crash and home prices will recede. But, like the phoenix, will again be reborn to go through its life cycle. According to Harvard’s Teo Nicolais (extension.harvard.edu/facultydirectory/teo-nicolais), there are four phases to the housing cycle. The cycles were described in 1876 by economist Henry George and modernized by Glenn R. Mueller to include recovery, expansion, hypersupply, and recession. Nicolais predicts that, aside from the occasional slowdown, there won’t be an honest to goodness housing crash until 2024.

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The psychology of pricing out your home

for sale sign outside housePricing your home correctly is the foundation of a successful sale. I have often talked about the science and art of pricing a home in various market conditions, but did you know that psychology also plays a role? 

With vast amounts of public data available on the internet, you may be tempted to price your home on your own.

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Maintenance-free living is a real possibility

for sale sign outside houseI talk about home maintenance quite a bit. And there is a reason. Maintaining your home is important, not just to keep you comfortable but to also preserve your investment. But many people loath the idea of spending their weekend checking their home’s systems, replacing air filters, mowing the yard, washing the siding, cleaning appliances, ad nauseum. 

They are called chores for a reason. But maybe sometime in the near future we will eliminate the need of regular home maintenance.

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Are home inspections becoming irrelevant?

for sale sign outside houseI have heard an increasing voice of discontent over home inspections. Not just from home sellers and their agents, but from home buyers too! Home sellers often complain about the incorrect flagging of working components as being defective. Listing agents usually gripe that home inspectors scare buyers and interfere with their sale. But many home buyers are also growing dissatisfied with inspections and the property reports they are given. 

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Getting some first time home owners assistance

for sale sign outside houseIf you are a would-be first time home buyer concerned about buying a home, you’re not alone. First time home buyers have had the most difficulty getting back into the real estate market after the Great Recession. Many would-be first time home buyers lack the financial resources, while others worry about the long term value. However, there is probably no better time than now to buy your first home.
You may be one of the many would-be first time home buyers who opted to continue to rent or live with their parents until the timing was right. Many would-be home buyers did the same, as a 2106 Pew Research Center report pointed out the millennial housing trend that may be associated with the decline in the homeownership rate since the Great Recession (For First Time in Modern Era, Living With Parents Edges Out Other Living Arrangements for 18- to 34-Year-Olds; pewsocialtrends.org; May 24, 2016). However, economic factors have significantly improved, and the housing market has stabilized. So what’s holding you back?

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In the end the only commodity is you

for sale sign outside houseMuch of what you see, hear, and read on TV, radio, and the internet is syndicated and distributed through a broad network of affiliated outlets. The purpose is to have as large of an audience as possible. The larger the audience, the larger the advertising revenue. Syndicating and distributing media content has been around for a very long time, and has been very a lucrative industry for those involved.

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Getting that top dollar for your home

The guarantee of “Getting top dollar for your home” is a theme in many real estate ads, as well as being promised by many agents.  Of course “Getting top dollar” is the goal for every home seller!  But why is this meme still prominent, and is it still meaningful?

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Hopeless romantics lost in real estate

Realtors® are guilty of romanticizing, if not glorifying, buying and selling a home. And it’s probably true for many, that initial thoughts of buying or selling a home (and everything that goes along with it) are sanguine. And yet, shortly after they are faced with details of the move, many are hit with the reality that the process is full of potential pitfalls and setbacks. Buying and selling a home can be a confusing endeavor, that can become overwhelming if you’re not mentally prepared.

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Love and the 'boomerang' home buyer

house genericThere is homeownership after a foreclosure or short sale. Home owners, who lost their homes to foreclosure or short sale during the housing downturn and recession, are apparently returning to the housing market in increasing numbers, such that their home buying activity is attracting economists’ attention.

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