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Friday, February 27, 2015

Are House Prices Beginning to Accelerate Again?

Are House Prices Beginning to Accelerate Again?


Are House Prices Beginning to Accelerate Again? | Keeping Current Matters
In a recent post, we explained that the supply of homes for sale in December was at its lowest level in over a year. The January National Housing Trend Report from realtor.com now reveals that inventory in January has decreased another 6.7% month over month and 8.7% year over year. This is occurring at the same time that buyer activity (demand) remains strong.
This prompted realtor.com’s Chief Economist Jonathan Smoke to report:
“January’s inventory data suggest a continuation of the tightening trend we identified last month in the December data, and with a shortage of inventory typically comes increased home prices. Half of the 200 markets realtor.com tracks experienced year-over-year price increases of at least 6% in January.”
This after the National Association of Realtors (NAR) had already reported in their latest quarterly report:
“The majority of metropolitan areas experienced steady but slightly stronger price growth in the fourth quarter of 2014, behind a decline in housing supply and an uptick in demand fueled by lower interest rates and a stronger job market.”

Bottom Line

Whether you are a first time buyer or a move-up buyer, now may be time to purchase a home – before prices increase any further.

Monday, February 23, 2015

Thinking of Buying? What are you waiting for?

Thinking of Buying? What are you waiting for?


Thinking of Buying? What are you waiting for? | Keeping Current Matters
If you are planning on becoming a homeowner, or moving up to the home of your dreams in 2015, here are four great reasons to consider buying a home now, instead of waiting until spring.

1. Prices Will Continue to Rise

The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 11.7% (most pessimistic) and 27.5% (most optimistic).
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Although Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have softened recently, most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison projecting that rates will be up almost a full percentage point by the end of 2015.
An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

3. Either Way You are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains:
“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

4. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But, what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Wednesday, February 18, 2015

Home Prices: A 5-Year Outlook

Home Prices: A 5-Year Outlook

Home Prices: A 5-Year Outlook | Keeping Current Matters
With inventory presently below historically normal levels, current & future home prices have been the topic of many real estate conversations. The most recent Home Price Expectation Survey was just released; giving insight into where experts believe prices will be leading up to 2019.
Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

Here are some highlights from their latest survey:

  • Home values will appreciate by 4.4% in 2015.
  • The cumulative appreciation will be 19.3% by 2019.
  • That means the average annual appreciation will be 3.6% over the next 5 years.
  • Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of 11.7% by 2019.
Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

Tuesday, February 17, 2015

2015: A Year of Housing Opportunity

2015: A Year of Housing Opportunity

2015: A Year of Housing Opportunity | Keeping Current Matter
Many believed that when the housing market crashed, so too would the desire of American’s to own a home again. Many reports have shown that, especially among younger generations, the American Dream of homeownership is still very much alive.
Julián Castro, Secretary for HUD, recently summed up what it means to own a home in a speech at the National Press Club.
"Homeownership is still the cornerstone of the American Dream — a fact you can see in the lives of everyday folks.
It’s a source of pride. It’s a source of wealth, providing both a nest and a nest egg. And it strengthens communities and fuels growth in the overall economy."
Castro appropriately named his speech, “2015: A Year of Housing Opportunity”, a theme that rang true throughout.
“Opportunity is not an abstract concept - it's a path to a more prosperous life, and housing often serves as its foundation. T.S. Elliot once said that "home is where one starts from."
“A home is often a primary source of wealth in a family… Having a home is generational way to pass that wealth on. We want people responsible enough to own a home to have that opportunity.”

Bottom Line

“Over the years-through decades of economic downturns and wars-the American people have always held on to this Dream, and always will.”
As the economy continues to improve, more and more Americans will qualify for homeownership, allowing more families to obtain the American Dream.

Friday, February 6, 2015

Real Estate Heading in the “Right Direction”

Real Estate Heading in the “Right Direction” | Keeping Current Matters
The housing market has taken a great turn toward recovery over the last few years. The opinions of the American public toward real estate took longer to recover, until recently.
For the first time since 2006, Americans have an overall positive view of real estate, giving the industry a 12% positive ranking in a Gallup poll.
Americans were asked to rate 24 different business sectors and industries on a five-point scale ranging from "very positive" to "very negative." The poll was first conducted in 2001, and has been used as an indicator of “Americans’ overall attitudes toward each industry”.
America's View on Real Estate | Keeping Current Matters
Americans’ view of the real estate industry worsened from 2003 to the -40% plummet of 2008.  Gallup offers some insight into the reason for decline:

Prices Dropped

“In late 2006, real estate prices in the U.S. began falling rapidly, and continued to drop. Many homeowners saw their home values plummet, likely contributing to real estate's image taking a hard hit.”

Housing Bubble

“The large drops in the positive images of banking and real estate in 2008 and 2009 reflect both industries' close ties to the recession, which was precipitated in large part because of the mortgage-related housing bubble.”

Bottom Line

“Although the image of real estate remains below the average of 24 industries Gallup has tracked, the sharp recovery from previous extreme low points suggests it is heading in the right direction.”
If the news of recovery has you considering homeownership, meet with a local real estate professional to discuss the opportunities that exist in today’s market.

Tuesday, February 3, 2015

Considering Selling? What You Do in the Next 6-12 Months Could Mean the Difference of Thousands of Dollars.



Considering Selling? What You Do in the Next 6-12 Months Could Mean the Difference of Thousands of Dollars.

Learn what you need to know to get proven results from a panel of experts: Appraiser, Inspector, Professional Stager, Real Estate Consultant that have helped sell thousands of homes.

• The 8 Secret Home Selling Strategies designed for today’s economy.
• How to avoid the biggest mistake you can make in pricing your home.
• Unravel the magic of why buyers choose one home over another — BEFORE you make decisions. 
• How appraisers arrive at value.
• The secrets to being the first house sold in any market. 
• How to avoid the common pitfalls move-up and downsize owners make. 
• Preparing your home to show and sell with minimum costs. 
• Determining the best timing to sell your home. 
• Creating powerful leverage to negotiate offers and counter offers.

http://www.rebehomes.com/1844089.html

Click link above to register or go to www.RebeHomes.com.

Or register on our Facebook event https://www.facebook.com/events/360154564109261/

Monday, February 2, 2015

No Matter What the Groundhog Says… You Should Sell Before Spring!

No Matter What the Groundhog Says… You Should Sell Before Spring!


No Matter What The Groundhog Says... You Should Sell Before Spring! | Keeping Current Matters
Is spring closer than we think? Depending on which Groundhog you witnessed today, you may have less time than you think to get your home on the market before the busy spring season.
Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages.

Here are five reasons to sell 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 currently more prospective purchasers 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 4.4 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. This is good news for home prices. However, additional inventory is about to come to market.
There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.
Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).
The choices buyers have will increase in the spring. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 23.5% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to be a full point higher by the end of 2015.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.