Last week, Fannie Mae released their Home Purchase Sentiment Index (HPSI). Though the survey showed 77% of respondents believe it’s a “good time to sell,” it also confirms what many are sensing: an increasing number of Americans believe it’s a “bad time to buy” a home. The percentage of those surveyed saying it’s a “bad time to buy” hit 64%, up from 56% last month and 38% last July. The latest HPSI explains: “Consumers also continued to cite high home prices as the predominant reason for … [Read more...]
Are we in a Bubble?
Lots of questions today out there around the topic of a Price Bubble. The question really is - are we in a Bubble on prices, like we saw in 2004-2007. Here’s the answer: A Bubble is a large run-up on prices that then peaks out and then falls back down. See the chart below that shows what a Bubble looks like. Notice in this charge, you can clearly see the ANGLE of price increase that occurred in the last Bubble. Very different from a gradual rise in prices like we have been on since … [Read more...]
April is Fair Housing Month
The Fair Housing Act is enforced by HUD – United States Department of Housing and Urban Development. If you feel if you have been discriminated against, you may contact them to file a complaint. Who Is Protected? The Fair Housing Act prohibits discrimination in housing because of: Race Color National Origin Religion Sex Familial Status Disability What Types of Housing Are Covered? The Fair Housing Act covers most housing. In very limited circumstances, the Act … [Read more...]
How to get your Buyer’s Offer Accepted
Currently, we are in a cutthroat sellers market. In our area, we are currently averaging a days on market of under a week. So what can be done to get that offer in and, more importantly, get accepted? If you look around there are a ton of suggestions: Know your must haves, your nice to haves, and what the difference is. Be prepared for a bidding war. Don't let your emotions get the best of you Get an agent to represent you. Use their expertise. Understand your Finances. Be … [Read more...]
What It Means To Be in a Sellers’ Market
If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at … [Read more...]
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