We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand.
If you are thinking of selling your home, here are two graphs that strongly suggest that the time might be now. Here is why…
Buyer activity in the Tri-Valley last month (February) … [Read More...]
Our market has changed. The first 6 months of 2014 we had multiple offers and prices increased. The second half of the year, from July on, homes stayed on the market longer, multiple offers were infrequent and prices stayed consistent. What a difference now. If you are a buyer and have been waiting to get into the market, you will find you have some very stiff competition. We are seeing all … [Read More...]
Recently 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 … [Read More...]
The headlines agree mortgage interest rates have dropped substantially below initial projections. Many who are considering purchasing a home, or moving up to their dream home, might think that they should wait to buy, because rates may continue to fall.
A recent article on the Economists’ Outlook blog by the National Association of REALTORS® (NAR) provides insight into one major factor in the … [Read More...]
It is common knowledge that a large number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their home on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to … [Read More...]
Do you want to make a move to reduce your mortgage payment? We have spoken with many homeowners who want to do just that; Or, they want to move because their home is too big, it has stairs and they want a one story, the yard is too much maintenance.
If you are 62 or older you can do a reverse mortgage to purchase your next home. You can move to that smaller home and have no payments! No … [Read More...]
If you are one of the many homeowners out there who are debating putting their home on the market in 2015, don’t miss out on the opportunity that currently exists.
There will be significantly less competition in the winter months than in the spring. According to the National Housing Survey released by Fannie Mae, 45% of homeowners “say mortgage rates will go up in the next 12 months.”
What … [Read More...]
This is the time of year for celebration and appreciation. We feel so blessed to have so many wonderful people in our lives. We wish you all a safe and joyous holiday. Merry Christmas and Happy New Year! … [Read More...]
There are some who are calling for a substantial drop in home prices should mortgage interest rates begin to rise rapidly. Intuitively that makes sense.
The cost of a home is determined by the price of the home and the price of financing that home. If mortgage interest rates increase, less people will be able to buy. The logic says prices will fall if demand decreases.
However, history shows … [Read More...]
This holiday season, seniors and aging adults are urged to stay active in order to enjoy good health during this year's festivities. While nonagenarians, a person whose age is in the nineties, may not be able to go “dashing through the snow” as fast as they did in their youth, they can make an effort to see friends, do volunteer work, play a rousing game of Scrabble or even knit holiday sweaters … [Read More...]