Thursday, August 26, 2021 / by Deborah Puleo
Why 2021 Is Still the Year To Sell Your House
If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house.
Why is sellers sentiment up year-over-year?
The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.
According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well ...
Tuesday, August 17, 2021 / by Deborah Puleo
What Does Being in a Sellers’ Market Mean?
Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?
It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition amon ...
Friday, February 5, 2021 / by Deborah Puleo
There are certainly a lot of factors when reviewing what it takes to have a successful short sale in real estate. Before we go into those factors, let's first review what is a short sale. A short sale is exactly as it sounds. It is when the borrower owes more than what the property is worth and the lender accepts less than what is owed on the mortgage. So when would a homeowner need to short sale? That question is answered by looking at their hardships. Was there a job loss, an illness, divorce, a disaster, pandemic, something that changed their ability to pay their mortgage and other expenses? The answer should be some or all of these mentions and that question will be asked by the lender as they require a hardship letter with the short sale package. Click here to see what are some things NOT to say in a short sale hardship letter. Click Here to learn on what is good to include in your hardship letter. Be sure to take not ...
Wednesday, November 18, 2020 / by Daria Scott
For many of us, our home is our biggest investment. Losing a breadwinner can wreak family’s finances — and their ability to stay in the home they love.
So, what’s the best way to protect your home in case something happens to you? Here are two options: mortgage protection insurance and traditional term life insurance.
Mortgage protection insurance
If you’ve recently closed on a mortgage or home equity line, you’ve probably should consider thinking about protecting your assets.
Mortgage protection insurance (MPI) is a type of life insurance designed to pay off your mortgage if you were to pass away — and some policies also cover mortgage payments (usually for a limited period of time) if you become disabled.
Note: Don’t confuse MPI with private mortgage insurance (PMI), which protects the lender if you default on the loan. With PMI, your family would still owe the balance of the loan if you passed away.
What’s good ab; ...
Tuesday, June 30, 2020 / by Ingrid Berlingeri
According to the National Association of Realtors, staging a home prior to listing it can result in a faster and more profitable sale.1 In fact, the Real Estate Staging Association estimates that professionally staged properties spend 73 percent less time on the market, receive more foot traffic, and typically sell for more money.2
Source: National Association of Realtors
Following are 10 tips you can use to get your home “show ready” prior to hitting the market. These easy and cost-effective ideas will help your house look its best—and help buyers visualize themselves living there. Even if you’re not currently in the market to sell, you can use these tactics to breathe new life into your existing home decor.
To get a plan customized for your particular property, give us a call to schedule a free consultation. We’d be happy to share our insider knowledge of the buyer preferences in your neighborhood … so you’ll know where to focus you ...