- Buyer demand continues to outpace the supply of homes for sale which means that buyers are often competing with one another for the few listings that are available!
- Housing inventory is still under the 6-month supply needed to sustain a normal housing market.
- Perhaps the time has come for you and your family to move on and start living the life you desire.
Buying or Selling in 2018? 5 Reasons to Resolve to Hire a Pro
- As we usher in the new year, one thing is for certain… if you plan to buy or sell a house this year, you need a real estate professional on your team!
- There are many benefits to using a local professional!
- Pick a professional who knows your local market and can help you achieve your dreams!
Top 5 Reasons You Shouldn’t FSBO
In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner(FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
2. Results Come from the Internet
3. There Are Too Many People to Negotiate With
4. FSBOing Has Become More And More Difficult
5. You Net More Money When Using an Agent
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Top 4 REAL Reasons We Buy a Home
We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons. Find Home
No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones. home buying process Find Home
1. Owning your home offers stability to start and raise a family
2. There’s no place like home
3. You have more space for you and your family
4. You have control over renovations, updates, and style
Inventory Challenges Continue!
- After a surge in March, existing home sales and new home sales slowed due to a drop in inventory available for sale in the start-up and trade-up categories. Find Home in Bolingbrook
- Median existing home prices surged for the 62nd straight month, up 6.0% over last year to $244,800.
- New home prices slowed as builders have started to turn their focus toward single family, smaller homes.
Millennials Flock to Low Down Payment Programs
A recent report released by Down Payment Resource shows that 65% of first-time homebuyers purchased their homes with a down payment of 6% or less in the month of January.
The trend continued through all buyers with a mortgage, as 62% made a down payment of less than 20%, which is consistent with findings from December. Find Home with Keith Kreis
An article by DS News points to the new wave of millennial homebuyers:
“It seems that the long-awaited influx of millennial home buyers is beginning. Ellie Mae reported that mortgages to millennial borrowers for new home purchases continued their ascent in January, accounting for 84 percent of closed loans.” Find Home in Aurora
Among millennials who purchased homes in January, FHA loans remained popular, making up 35% of all loans closed. Ellie Mae’s Executive Vice President of Corporate Strategy Joe Tyrrell gave some insight into why: