Menu

Sometimes you need a neighborhood expert

for sale sign outside houseWhen I began my real estate career, every budding agent was taught we should farm neighborhoods to become the local expert. Agents would (and many still do) farm neighborhoods by spending a small fortune on promotional marketing just to tell you how smart they are about your neighborhood. The notion only one agent is “the expert” on selling homes in your neighborhood has become antiquated. However, the long standing ritual, where agents tout themselves as the “neighborhood expert” or specialist, is still alive and well.

Read more...

Holy shades of 2005 economy Batman

for sale sign outside houseEveryone seems to be excited about this week’s Case-Shiller home price numbers reported for February. Even the title of the April 25th press release sounded a little giddy: “The S&P Corelogic Case-Shiller National Home Price NSA Index Sets Fourth Consecutive All-Time High” (spice-indices.com). Yes, the Case-Shiller 10-city and 20-city composite indices are close to the 2007 level. But before you become intoxicated with the thought of becoming rich by selling your home, here’s more to the story.

Read more...

The coming optimism in the housing market

for-sale-sign-outside-house

There’s no doubt that 2016 was an outstanding year for real estate and the housing market. In fact, National Association of Realtors chief economist Lawrence Yun was reported to say in a January NAR press release (www.nar.realtor) that the 2016 housing market was the best since the Great Recession. There were 5.45 million total existing home sales in 2016, which exceeded 5.25 million during 2015.

Read more...

Choose the best way to sell your home at the best price

for-sale-sign-outside-house

As the housing market strengthens, consumer confidence in real estate increases. Along with a stronger home sale market comes the increase of for-sale-by-owners (FSBO). The obvious upside to selling a home on your own is to increase your net. And a study conducted in 2009 may support your FSBO yearnings.

Read more...

Home sales and prices continue to go higher

for-sale-sign-outside-house

Back in January, I told you that the housing market of 2016 would be about home prices. And indeed, national home sale prices have appreciated considerably through the year. But who would have thought that home prices would once again approach the level reached during the peak market of 2006?

The S&P CoreLogic Case-Shiller National Home Price Index (spindices.com) reported in July that the index was within 3 percent of peak, with another month of 5 percent appreciation. And surprise! This week’s release of home price data indicated that the September’s S&P CoreLogic Case-Shiller National Home Price Index exceeded the index that was recorded during the peak market that occurred July 2006! September’s year-over-year gains were due to a 5.5 percent gain to the National Index, while the 20-City composite remained unchanged at a 5.1 percent.

Read more...

Knowing the future of home sales

 

for-sale-sign-outside-house

Everyone wants to know the future. Home sellers and buyers want to predict home prices. Home sellers want to know the best time to sell. Home buyers want to know if they’re getting a good price. And apparently there may be a fairly reliable predictor to home prices, however it’s not what you think it is.

Several empirical studies have attempted to provide a methodology for predicting the housing market. Of course, there is the familiar forecasting of real estate through divorce and premarital agreements. Back in 2013, the American Academy of Matrimonial Lawyers (AAML.org) issued a press release citing the increase of prenuptial agreements as sign of the improving economy. The increase in prenuptial agreements meant that people felt there was value in their assets. And this was meant to be a good sign for the housing market.

Read more...

Looking forward to bursting a bubble

The March S&P/Case-Shiller U.S. National Home Price Index (spindices.com) was announced May 31st to reveal a 5.2 percent increase in home prices. Although down from last March’s 5.3 percent increase, home prices seem to be appreciating at a regular pace, with the metro areas of Portland, Seattle, and Denver leading the way with double digit gains (year-over-year price increases of 12.3 percent, 10.8 percent, 10.0 percent respectively).

Read more...
Subscribe to this RSS feed