Monday, June 17, 2019 / by Brian Ness
Here are 5 compelling reasons listing your home for sale this summer makes sense.
1. Demand Is Strong
The latest Buyer Traffic Index 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, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they ...
Saturday, June 15, 2019 / by Brian Ness
Rochester Real Estate Talk Show Saturday’s from 8:30-9am on KROC-AM 1340 / 96.9 FM
6/15/19 Every profession has its own jargon and real estate has its fair share. Robin Gwaltney with Gwaltney Group | RE/MAX Results explains many of the terms used by those involved in buying and selling homes, along with those who track real estate transaction. Robin also provides some of the most recent statistics on the housing market in Rochester and explains how you could get regular updates for free.
Friday, June 14, 2019 / by Brian Ness
If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI).
Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.
Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.
Wednesday, June 12, 2019 / by Brian Ness
3 Things to Know in the Housing Market Today!
A lot is happening in the world, and it’s having a direct impact on the housing market. The reality is this: some of it is positive and some of it may be negative. Some we just don’t know yet.
The following three areas of the housing market are critical to understand: interest rates, building materials, and the outlook for an economic slowdown.
1. Interest Rates
One of the most important things to consider when buying a home is the interest rate you will be charged to borrow the money. In our recent post we posed the question, “Are Low Interest Rates Here To Stay?” The latest information from Freddie Mac makes it appear they are. We are currently at a 21-month low in interest rates.
2. Building Materials
Talk of tariffs could also affect the housing market. According to a recent article, the National Association of Home Builders reports that as much ...
Tuesday, June 11, 2019 / by Brian Ness
Renting or Owning, What Is Better for You?
In a real estate market where home prices are rising, many have begun to reexamine the idea of buying a home, choosing instead, to rent for a while. But often, there is a dilemma: should you keep paying rent, knowing that rent is rising too, or should you lock in your housing cost and buy a home?
Let’s look at both scenarios and analyze the pros and cons of each:
With the housing market crash in 2008, many homeowners lost their homes and became renters. According to Iproperty Management, “the number of households renting their home … rose from 31.2% of households in 2006 to 36.6% in 2016”.
Some choose to rent because it is more convenient for their lifestyle. Those whose job requires frequent moves need the flexibility that a 6-12 month lease agreement gives them so they can move to their next assignment!
Many renters believe that renting is cheaper because they do not have to pay for maintenance a ...