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Oct. 15, 2020

Why Selling Your House Before Next Spring Is Key

Oct. 6, 2020

Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential

Why Pricing Your House Right Is Essential | MyKCM

In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.

According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.comnotes:

“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”

When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

How to Price Your Home

As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.

Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.Why Pricing Your House Right Is Essential | MyKCM

A Trusted Real Estate Professional Will Help

It’s important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price. Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.

The key is making sure your house is priced to sell immediately. That way, it will be seen by the most buyers. More than one of them may be interested, and your house will be more likely to sell at a competitive price.

Bottom Line

If you're thinking about listing your house this fall, let’s discuss how to price it right so you can maximize your exposure and your return.

March 31, 2020

What the Experts Are Saying About the Market

March 11, 2019

5 Reasons Homeownership Makes Cents

Posted in Homeowners
Nov. 29, 2018

The #1 Reason to Not Wait Until Spring to Sell Your House

The #1 Reason to Not Wait Until Spring to Sell Your House

Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, then that is when they will have the most competition!

 

The #1 Reason to List Your Home in the Winter Months is Less Competition!

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months’ supply of listings from the National Association of Realtors.

The #1 Reason to Not Wait Until Spring to Sell Your House | Simplifying The Market

As you can see, the ‘sweet spot’ to list your home for the most exposure naturally occurs in the late fall and winter months (November – February). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!

The #1 Reason to Not Wait Until Spring to Sell Your House | Simplifying The Market

In 2017, listings increased by nearly half a million houses from December to June. Don’t wait for these listings to come to market before you decide to list your house.

Added Bonus: Only Serious Buyers Are Out in the Winter

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

Bottom Line

If you have been debating whether or not to sell your home and are curious about market conditions in your area, let’s get together to help you decide the best time to list your house for sale.

Posted in Sellers
Nov. 20, 2018

Stephanie Funk's Interview with the Working Title with Zach Sams

 

 

Posted in Current Trends
Nov. 16, 2018

3 Things Homeowners Are Thankful For

Posted in Homeowners
Nov. 2, 2018

Advantages of Buying a Home

Posted in Buyers
Oct. 25, 2018

Where are Home Values Headed over the Next Few Years?

Where are Home Values Headed over the Next Few Years? | Simplifying The Market

Where are Home Values Headed over the Next Few Years?

   For Buyers, For SellersHousing Market UpdatesPricing

There are many questions about where home prices will be next year as well as where they may be headed over the next several years to come. We have gathered the most reliable sources to help answer these questions:

The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.

Zelman & Associates – The firm leverages unparalleled housing market expertise, extensive surveys of industry executives, and rigorous financial analysis to deliver proprietary research and advice to leading global institutional investors and senior-level company executives.

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

Freddie Mac – An organization whose mission is to provide liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets always.

Here are their projections of prices going forward:

Where are Home Values Headed over the Next Few Years? | Simplifying The Market

Bottom Line

Every source sees home prices continuing to appreciate – just at lower percentages as we move through the next several years.

 

Posted in Current Trends
Jan. 16, 2018

Dallas Top Hot Home Market List

 

According to Steve Brown, Real Estate Editor of the Dallas Morning News, Texas cities took all the top spots in a new ranking of the country's hottest housing markets.

San Antonio, Fort Worth and Dallas got the highest scores out of 50 cities ranked by Ten-X, an online real estate sales firm.

Austin also made it into the top 10 in Ten-X's fall 2017 housing report.

"The three Texas cities saw double-digit home price gains, yet they remain very affordable areas to buy homes, indicating they have a bright outlook ahead," the real estate firm's report said.

Columbus, Ohio, and Tampa, Fla., also got the nod for their housing markets.

"The cities at the top of our list have consistently seen the most favorable market factors," Ten-X executive vice president Rick Sharga said in a statement. "However, hot housing markets can come and go.

"It remains to be seen what impact Hurricanes Harvey and Irma will have on construction labor forces and housing inventory in Texas and Florida," he said. "Meanwhile, Southern California and Northeast markets continue to cool due to soaring prices and low inventory, which keeps homeownership out of reach for many first-time buyers."

North Texas home prices are now at record levels, having increased by more than 40 percent in the last four years.

So far in 2017, sales are up about 4 percent from the same period in 2016.

"The Dallas market continues its amazing performance," Ten-X analysts said. "While the home sales rate has declined slightly from last quarter's pace, it is still on track to surpass prior peaks and is more than double the nationwide rate. Home prices also continued to outperform the national average, rising to more than 50 percent above their prerecession peak.

"Like other Texas cities, prices remain very affordable with room to grow and only slight downside risk volatility."

Some analysts, including Wall Street's Fitch Ratings, have red-flagged the Dallas-Fort Worth housing market for unsustainable growth. North Texas home prices have been rising at several times the rate of average wage increases.

Article Source Dallas Morning News

 

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