Tuesday, March 1, 2022 / by Jen Roux, Realtor
Getting ready to sell in spring means prepping your home for sale the traditional way: eliminating clutter, cleaning, and taking care of minor repairs. You can’t, and shouldn’t, rely on buyers overlooking the stained carpet or broken faucet just because inventory is low.
Keep in mind that the majority of home searches now begin with an online search - if your home looks dark, dingy, and cramped in photos, chances are you’re not going to have as many buyers coming to see it.
And fewer interested buyers means fewer offers - which means you lose your competitive advantage. Sellers stand to profit the most when buyers compete against each other for the sale.
“Condition definitely stands out in this market. For my clients who are looking to list this spring, I’m advising them of the updates they would need to make in conjunction with the comparables that have sold this past fall,” explains DC-based listing agent Robbie Zebhideh.&n ...
Tuesday, May 8, 2018 / by Jen Roux, Realtor
4 Reasons Why Today’s Housing Market is NOT 2006 All Over Again
With home prices rising again this year, some are concerned that we may be repeating the 2006 housing bubble that caused families so much pain when it collapsed. Today’s market is quite different than the bubble market of twelve years ago. There are four key metrics that explain why:
1. Home Prices 2. Mortgage Standards 3. Mortgage Debt 4. Housing Affordability
1. HOME PRICES
There is no doubt that home prices have reached 2006 levels in many markets across the country. However, after more than a decade, home prices should be much higher based on inflation alone.
Frank Nothaft is the Chief Economist for CoreLogic (which compiles some of the best data on past, current, and future home prices). Nothaft recently explained:
“Even though CoreLogic’s national home price index got to the same level it was at the prior peak in April of 2006, once you accoun ...
Thursday, March 29, 2018 / by Jen Roux, Realtor
Here are five reasons listing your home for sale this spring makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.
Historically, the average ...