Archive for the 'Real Estate Market Trends' Category
Real Estate Market Report
May 11th, 2011 categories: Real Estate Market Trends
Active housing market data shows signs of strength and improvement in the real estate market! The latest market reports show real-time market conditions, with increases in both median prices and inventory in most markets across the United States. Click here for last month’s Market Action Report in Los Angeles. If you like this and other information provided by Kathy Villa Real Estate, please follow and Like us on Facebook for great updates!
| Discussion: No Comments »
Real Estate Market Report for Beverly Hills in February
March 10th, 2011 categories: Real Estate Market Trends
The latest reports showed increased home sales in January compared to last year. Click here for Beverly Hills Market Report for February and check in with us every month as we provide you the previous month’s Real Estate Market Trends. Be sure to “Like” us on Facebook too, we look forward to connecting with you!
| Discussion: No Comments »
5 Reasons You Should Sell Your House Today!
October 21st, 2010 categories: Real Estate Market Trends, Sellers
Selling your home in today’s market can be hard. This is exactly why every seller should take advantage of every opportunity that arises. This Fall, that opportunity may be too good to pass up!
Looking to sell your home in the next 90 days? Meet with Kathy Villa and your mortgage lender today and see whether it is the right move for you and your family. Also read 5 good reasons below you should consider when pricing your house:
1. Entering this time of year, the buyers are more serious. We all realize that buyers are not quick to pull the trigger on the purchase of a home today. There is no sense of urgency with the supply of eligible properties at all time highs. However, at this time of year, the ‘lookers’ are at the stores doing their holiday shopping. The home buyers left in the market are serious and are more apt to make a purchasing decision. Less showings – but to more motivated purchasers.
2. If you are moving up, you can save thousands. The Chicago Tribune stated in an article last week that sellers who want to ‘trade up’ should act now.
It could be a bigger house, different neighborhood or a better school district, but it comes with a higher price tag. Do the math; this might be the right time.
A home that was once worth $300,000 may now be worth $240,000 in a market where prices have fallen 20%. Wow, you think, the seller is taking a bath. But that seller may also be a prospective buyer who wants a house that once was valued at $400,000. With an equivalent market drop and realistic listing price, that house may now sell for $320,000. So in effect, the person is losing $60,000 on the sale of one home but coming out ahead $20,000 on the purchase of another.
Keep in mind the spread may be even greater. There’s a smaller pool of potential buyers for more expensive homes, so sellers may be more willing to cut their price to get a deal done.
3. Interest rates just fell again – to 4.19%
In an article in the New York Times last month, Professor Karl E. Case (founder of the Case Shiller Pricing Index) actually did the math for us:
For years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 % was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20% down would carry a rate of about 4.2% and a monthly payment of $833… Housing has perhaps never been a better bargain.
4. You beat the rush of inventory that is coming next year. Every year there is an increase of inventory which comes on the market from January through April as homeowners put their houses up for sale in preparation for the spring market. As an example, here is the number of listings available for sale in each of those months in 2010.
- January – 3,277,000
- February – 3,531,000
- March – 3,626,000
- April – 4,029,000
You won’t have to worry about this increasing competition if you sell now.
5. You have less ‘discounted’ inventory with which to compete. This year, sellers of non-distressed properties have been given an early holiday present. With banks declaring a suspension on the sale of many distressed properties (foreclosures), there has been a large supply of discounted properties removed from competition. No one knows how long this self imposed moratorium will last. However, while it does, every homeowner has a better chance of selling their property.
Bottom Line: If you are looking to sell in the near future, there may not be a more opportune time than this fall. Serious buyers, great move-up deals and less competition from foreclosures creates the perfect selling situation. Don’t miss it!
| Discussion: No Comments »