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Marketing strategies to increase your home sale price

for sale sign outside houseAlthough the volume of home sales is below last year’s figures, most homes are still selling. Of course, sellers of homes would prefer to sell their house faster. 

When meeting with potential listing agents, home owners are typically overwhelmed by agents promoting their broker’s technology. 

But the research is clear that it’s not technology that sells homes, but rather your content and the audience.

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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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Incentives for Maryland first-time home buyers

for sale sign outside houseMaryland first-time home buyers may soon have another program to help them buy a home. 

Two related bills are making their way through the Maryland General Assembly to create a first-time home buyer savings account. If enacted, Maryland would join a handful of other states that have already enacted such programs to incentivize home buying.

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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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Don't send buyers to the competition

Home sellers should be concerned about the reports of a tumbling luxury home market. The stalwart of the American real estate market since the recession (and possibly skewing home price indices) is showing signs of weakness. Leigh Kamping-Carder of the The Wall Street Journal reported that 50 percent more homes priced $5 million or more reduced prices during this past January, compared to January 2015 (More Luxury-Home Sellers Drop Their Asking Prices; wsj.com; April 12, 2016). Additionally, Kelsey Ramírez reported for HousingWire about a Redfin home price analysis that indicated weakened luxury home prices; the sector realized a 1.1 percent annual decrease during the first quarter of 2016 (Luxury home prices decrease for first time since 2012; housingwire.com; May3, 2016).

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