America Needs Your House!!

Keith Kreis
Published on September 8, 2017

America Needs Your House!!

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The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):

Mark Fleming, First American’s Chief Economist

“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supplychallenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”

Svenja Gudell, Zillow’s Chief Economist

“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”

Sean Becketti, Freddie Mac’s Chief Economist

“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”

Lawrence Yun, National Association of Realtors’ Chief Economist

“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”

Ask Keith Your local Agent

Bottom Line

If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price.

source: America Needs Your House!! | Real Estate with Keith Kreis


The 5 Greatest Benefits of Homeownership

Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits that “should be at the top of everyone’s list.” Home Buying Process

  1. Homeownership can help you build equity over time.
  2. Your monthly payments will remain stable.
  3. You may have some tax benefits.
  4. You can take pride in ownership.
  5. Homeownership improves your community. Home Buying Process

Let’s expand on each of Freddie Mac’s points: Home Buying Process

The 5 Greatest Benefits of Homeownership


Three Steps For Locating And Purchasing Your Perfect New Home

Are you considering buying a new home? Maybe you’ve checked out a couple of houses or found a new home you’re already interested in. Don’t rush straight into buying a new home though, as there are a few crucial factors you need to take into consideration before you sign the dotted line and head to your closing. Home Buying Process

Purchasing a home requires plenty of research – after all this will be where you live for a large part of your life. Before you dive into buying a new home you need to make sure you understand the process exactly. Here’s the three step process that every buyer should follow. Home Buying Process

1. Locate and discover

The process of buying a house usually will occur organically and more often than not it will begin around a year or more prior to the actual purchase of the home. To start off you will view different home listings on the internet to see which types of homes are available in the different price ranges. Location is certainly something you need to take into consideration not only for the surrounding environment and scenery, but also for the value. For example you can buy a 4 bedroom house in one specific area for the same price as a 1 bedroom flat in another area. You should begin with searching for homes in some of your favorite neighborhoods. Look at the reports on home values and review the statistics. After doing this you should start to piece together a list of priorities to narrow down your search. The majority of buyers will identify a property in this stage which prompts them to quickly move onto the next stage in the process. Home Buying Process

Three Steps For Locating And Purchasing Your Perfect New Home

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America Needs Your House!!
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