NAR’s Existing Home Sales Report

NAR’s Existing Home Sales Report
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Housing Inventory Slowly Disappearing

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) released their latest Existing Home Sales Report this week. Inventory Levels & Demand Amidst reporting on the fact that sales of existing homes rose 1.2% from January, and outpaced year-over-year figures for the fifth consecutive month, was the news that total unsold housing inventory is at 4.6-month supply. 

This is down 0.5% from last February and remains below the 6 months that is needed for a historically normal market. Consumer confidence is at the highest level in over a decade. Pair that with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers. 

Buyer demand for housing remains twice as high as this time last year. Prices Rising February marked the 36th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $202,600.

http://www.homesforsaleinirvingtx.net/housing-inventory-slowly-disappearing/

Why You Should Sell Now!

As the temperature rises, buyers are coming out ready to purchase their dream home. Inventory is still below historic numbers and demand is strong. Don’t miss out on this great opportunity for you and your family. Here are five reasons to list your home now. 1. Demand is Strong Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last 12 months which includes last spring’s buyers’ market. These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing supply just dropped to 4.6 months, which is under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, there are not enough homes for sale to satisfy the number of buyers in that market. T
http://www.homesforsaleinarlingtontx.org/why-you-should-sell-now-arlington/

Baby Boomers: Home Is Where The Heart Is

Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard. Let’s take a look at why… In Merrill Lynch’s latest study, “Home in Retirement: More Freedom, New Choices” they surveyed nearly 6,000 adults ages 21 and older about housing. Crossing the “Freedom Threshold” Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61. The study refers to this change as “Crossing the Freedom Threshold”. When where you live is no longer determined by responsibilities, but rather a freedom to live wherever you like. (see the chart below) As one participant in the study stated: “In retirement, you have the ch
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Housing Inventory Slowly Disappearing

The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) released their latest Existing Home Sales Report this week. Inventory Levels & Demand Amidst reporting on the fact that sales of existing homes rose 1.2% from January, and outpaced year-over-year figures for the fifth consecutive month, was the news that total unsold housing inventory is at 4.6-month supply. This is down 0.5% from last February and remains below the 6 months that is needed for a historically normal market. Consumer confidence is at the highest level in over a decade. Pair that with interest rates still under 4%, new programs available for down payments as low as 3%, and you have an attractive market for buyers. Buyer demand for housing remains twice as high as this time last year. Prices Rising February marked the 36th consecutive month of year-over-year price gains as the median price of existing homes sold rose to $202,600 (up 7.5% from 2
http://www.homesforsaleinarlingtontx.org/housing-inventory-slowly-disappearing/

Fast and Reliable Ways To Pre Qualify Home Buyers

We all know that buying a home is a complex process. Currently the mortgage interest rates are favorable for home buyers, resulting in many home buyers, including first time buyers,  to rush to buying a home. But Homes for sale in Irving Tx suggests that if you are serious about buying a home the first thing to do is to visit a lender. You might be questioning why meet with a lender? A lender is a person who knows everything about loan options, how to increase your credit score if necessary and will discuss with you the problems and the possible solutions in the home buying process. Here are fast and reliable ways to interact with your lender: Make sure you are a decision maker - First and foremost remember that you re talking to an experienced professional. You need to be confident in this process and understand what your needs are. Prepare to answer the questions of a lender with confidence and honesty. Make sure you don’t have credit card or loan balances and other fees that a
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Supply and Demand Affects Home Prices in Arlington

Real estate is composed of a seller and buyer. The buyer and seller are always involved in business together, when it comes not only in real estate but in business in general. Supply and demand in the housing market affects the home prices. Experts believe that when there is a large supply of houses, home prices will decline and in contrast when there is a low supply of homes it results in high demand for homes and increased prices. This is what we call a sellers market. Home sellers will take advantage of it.  In summary, home prices are determined by supply, demand, and location. Check the criteria below on how supply and demand affects home prices: 1-4 months’ supply creates a home sellers’ market where there are not enough homes to supply the buyer demand. Appreciation is guaranteed. 5-6 months’ supply forms a balanced market. 7-8 months’ supply creates a home buyers’ market where the number of homes in the market surpass the demand. Depreciation follows. Be guided and
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Smart and Effective Home Buyer Strategies in Fort Worth

Today the housing market is suffering from shortage supply of homes because of high demand according to realtors. Homes are selling quickly and faster than we could think, resulting in an increase in home prices.  This is becoming a sellers market in all areas. We can’t control the market as it is subject to change over time. There are times that is the buyers market and there are time that is in favor with the sellers. When it is a sellers market or there is a short supply with houses, Homes for Sale in Fort Worth TX advises you to not to spend your time asking the sellers for low prices.  To be able to get the attention of the seller do make a move with these strategies: A good first impression is Important You need to have make a good impression with the seller and also the agent. You need to be specific with your must haves.  When you a like a home send the seller with a letter composed of why you love the home and include your offer. Be flexible and Ready Always be ready whe
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Homeownership is the “American Dream” for a Reason

There have been some who have voiced doubt as to whether or not the younger generations still consider buying a home as being part of the “American Dream”. A recent study by Merrill Lynch puts that doubt to rest. According to their research, every living generation still maintains that owning a home is in fact important. Here are the numbers: This should not surprise us as many studies have revealed the benefits enjoyed by the families who own their own home. One such study was done by the Joint Center of Housing Studies at Harvard University that addressed a major financial benefit to owning your own home: forced savings. The report explains: “Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day.” The Merrill Lynch study proves this point with the following data on home equity (a form of savings): Bottom Line There are many reasons that owning a home makes
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Top Considerations When Purchasing A Home

It has been tradition that home buyers fall in love with the first home they visit or view.  Most buyers are being controlled by emotions that make you vulnerable when buying a home. Homes for Sale in Fort Worth TX advises you to let not your heart alone make the decision in buying a home. Top situations to consider: 1. Create lists of the features or the things you are looking for in house. Know yourself and make sure the list represents what you want in a house. Think of how long you will live in that specific place. Be realistic and honest with your must haves and needs. 2. The location remains a great asset in buying or selling a home even if the house is older but has a nice neighborhood and is conveniently located. You can’t make a location great but you can make a house spark again. 3. The financial elements are one of the top considerations to consider in purchasing a house. It is critical to know how much you can afford without risking your financial stability. Call Homes
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Biggest Mistake First Time Buyers Repeatedly Make

When we say first time buyer, we include anyone who is a beginner or does not have significant knowledge with the housing market. Being your first time buying a home, there are circumstances that may cause you to take the wrong path or may result in you making the wrong decision. Homes for Sale in Arlington TX has identified the biggest mistakes many first time home buyers making over and over again. Are you thinking of buying a home and this is your first time? Then consider these hurdles: Not preparing enough to obtain financing when buying a house. Not getting the right home loan that fits your financial stability. Not thinking about the monthly payments and only focus on purchase price. Financing is one of the most important factors when buying a home that you must take seriously. Homes for Sale in Arlington TX advises you to call us to analyze and help you determine your financing needs when buying a home. With Homes for Sale in Arlington TX, we will explain what is best for your
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Hurry Up!! Call your Agent and List your House!!

That headline might be a little aggressive. However, as the data on the 2015 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! We realize that existing home sales stumbled in January compared to December. But, if we compare the current September-January time period to the same period a year ago, we can see that existing home sales have outpaced last year every month with the January sales numbers 200,000 homes greater than last January: Pending home sales (houses going into a contract) as reported by the National Association of Realtors have also done much better in the last five months compared to a year earlier: And, buyer demand is continuing to skyrocket: At the same time, the amount of housing inventory coming to the market compared to last year is plummeting: Bottom Line With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Call in a local real
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Home Buying in Irving Texas

The year 2015 has begun, and with it new changes and updates are being brought out in the housing market. Mortgage rates and interest rates have dropped.  New homes are listed online. Buying a home has been always part of the American dream. A home is the greatest investment one can have. The year 2015 has started in a positive way, with the drop in oil prices and unemployment rate.  Buying a home requires a lot of time, money and effort. If you’ve decided to buy a home, the first thing you must do is to check your credit so you will know how much you can afford without risking financially. If you don’t have a great credit score, Homes for Sale in Irving suggests you to make a move to increase your credit. Next make a list of what home do you want to buy? What size home do you want to buy, do you want an attached garage? A patio? A big master bedroom or walk in closets? Determine what features you want your new home to include. Call Homes for Sale in Irving TX.  We can provide
http://www.homesforsaleinirvingtx.net/home-buying-in-irving-texas/

We Can Help You Buy A Home in Arlington Tx

If you are a first time home buyer and were looking for homes on your own by browsing online, visiting open houses and roaming around the city, this process can require a lot of effort and time. The question now is why are you doing all these things when you can enlist the help of an agent or a realtor? You may be thinking that realtors can’t be trusted or that agents are like a salespeople. Real estate agents and realtors are different from salespeople. Salespeople do not  have loyalty and only owe you service. But real estate agents/ realtors owe you loyalty and service. Real estate agents are with you every step of the way, from finding homes through the closing. Real estate agents do not force you to choose a particular home or pressure you to choose a home to buy.  Real estate agents advise and suggest options, looking for which property fits your needs and wants. Homes for Sale in Arlington TX can be your great ally in buying a home in the Dallas Fort Worth Metroplex. We wil
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Selling Your Home? The Importance of Using an Agent

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold. In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past two years, 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ most recent Profile of Home Buyers & Sellers. However, the report also revealed that for the second year in a row 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know. Buyers search for a home online but then depend o
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NAR’s Existing Home Sales Report

Related posts: Either Way, You’re Paying a Mortgage Net Worth: A Homeowner’s is 36x Greater Than A Renter! The REAL Reasons Americans Buy a Home
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New Construction = New Competition

For the last several years, home sellers had to compete with huge inventories of distressed properties (foreclosures and short sales). The great news is that the supply of these properties is falling like a rock in the vast majority of housing markets (only 11% of homes sold in January). Many homeowners are now thinking of selling as the impact of this substantially discounted competition has disappeared. However, every seller of an existing residential property must realize that there is a new form of competition in the market: newly constructed homes. According to the National Association of Realtors’ Profile of Home Buyers & Sellers new home sales accounted for 16% of all homes sold in 2014. The graph below shows the top 5 reasons that a buyer would choose new construction over an existing home. The top three should not come by surprise. With a new home comes the ability to customize the design of the home and the ability to avoid having to renovate or deal with existing problems
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Selling Your House Without An Agent

Selling a home without an agent is very common and traditional. Most people sell their home by listing it with an agent who earns a large commission. But today is different most growing individuals are engaging in FSBO, selling their own home without the help of an agent. FSBO is not as easy as many people believe because you are doing completely on your own, from listing, marketing your home, conducting negotiations and completing all paperwork. FSBO is challenging if you are a first time home seller. Selling a home FSBO requires a lot of effort and time. If you decide to sell your own home without the help of an agent, then call FSBO Dallas (817) 369-5092.  We can help you list your home online, market your home and complete necessary paperwork. FSBO Dallas will provide fair knowledge and updates about your home sale. We will keep you informed about the complex process and have your from listing to closing. Call Now! Related posts: Thinking of Selling Your Home? Take this Staging T
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Ways To Find The Value of Your Home in Fort Worth

Are you thinking of selling your home in the near future? Do you know the things to do  before putting it on the market? Putting your home for sale is a complex process, but Homes for Sale in Fort Worth TX advises you to first know the real value of your home. Do you know how you can determine the real value of your home? If no then this article will explain the process. Utilize the  AVM Models (automatic value models). AVM are used to estimate local sales, based on a wide range of data and prices. AVM are offered for most real estate websites. When you have a realtor or agent, ask for a comparative market analysis. CMAs are done by real estate agents. Realtors are knowledgeable professionals who will complete analyses for recent sales and inventories. Hire an appraiser. Appraisers are professionals when it comes to on site inspection of your property.  They review market trends and also they check comparable home sales properties of comparable size that have sold recently. If you
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What are the Threats of the Housing Market?

New Year’s has come and gone and with this are new changes and threats in the housing market. The housing market has its ups and down. In this article, we will focus on the the threats and drawbacks of the housing market today: 1. Some housing investors are cashing out Investors have always been around the corner, finding, bidding and buying homes. Investors are buying homes and renting them out, but today according to surveys, some investors are stepping out of the housing market. 2. Incomes are still not enough The incomes most people are earning are not increasing but the cost of homeownership continues to rise. 3. Lenders are always on edge Even though Freddie Mac and Fannie Mae have recently announced the ease of lending, many home buyers still have difficulty getting a mortgage. Lenders are nervous to lend money to borrowers who do not have a excellent credit. 4. Increasing mortgage rates Even experts did not project the rise in mortgage interest rates. As mortgage rates incre
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Was Purchasing A Home a Good Investment?

Buying a home has been always part of the American dream. We always heard from our parents, friends, colleagues, and brokers that buying a home is really a good investment because it helps secure our future. Buying a home is always presented that it is better than renting because when you rent you get nothing in return. But when you invest a house, your investment will increase its value over time. So lets take a closer look to determine if owning a home a good investment: You own the land and the house. Yes, it’s a good investment but part of this includes fees like taxes, mortgage, insurance and other utilities. But remember whether you own a house or rent you will still have some of these expenses. Homes for Sale in Arlington TX advises you to consult us before you purchase a home. We will check and analyze thoroughly to help you determine if buying a home is a good investment. Arlington TX Real Estate will help you determine if you can afford a home and how much you can afford w
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