Are all price points selling?

by Chris Druesedow December 31, 2015

There is much discussion about how the real estate market is in the middle of its turnaround based on sales increasing on a year-over-year basis. Though the fact that housing is again moving is fabulous news, let’s not lose sight of which homes are selling. Here is a closer look at different price ranges and how they are faring in the current ‘boom’: $0-100,000 sales up 38.8% $100,000 – 250,000 sales up 8.7% $250,000 -5 00,000 sales down 6.2% $500,000 – 750,000 sales down 8.9% $750,000 – 1,000,000 sales down 10.6% $1,000,000 – 2,000,000 sales down 23.3% $2,000,000+ sales down 32.4% As we can see, this rebound has only affected the lower price points. Make … Continue reading

American Dream of Homeownership Still Very Much Alive

by Chris Druesedow December 30, 2015

American Dream of Homeownership Still Very Much Alive | Keeping Current Matters In a recent post, Trulia examined whether homeownership was again being seen by adults in the US as a “part of their personal American Dream.” Over the last five years: The percentage of U.S. adults who believe homeownership is part of their American Dream increased from 70% to 75% The percentage of 18-34 Year-olds who believe homeownership is part of their American Dream increased from 65% to 80% Here is a graph of the survey over the last five years: American Dream of Homeownership | Keeping Current Matters Bottom Line As the housing industry recovers from the crisis of 2008-2010, Americans belief in … Continue reading

Thinking of Selling Your Home? Get Ready to Negotiate!

by Chris Druesedow December 29, 2015

Thinking of Selling Your Home? Get Ready to Negotiate! | Keeping Current Matters Now that the market has showed signs of recovery, some sellers may be tempted to try and sell their home on their own (FSBO) without using the services of a real estate professional. Real estate agents are trained and experienced in negotiation. In most cases, the seller is not. The seller must realize their ability to negotiate will determine whether they can get the best deal for themselves and their family. Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO: The buyer who wants the best deal possible … Continue reading

Don’t Let Rising Rents Trap You!

by Chris Druesedow December 28, 2015

Don’t Let Rising Rents Trap You! | Keeping Current Matters There are many benefits to home ownership. One of the top ones is being able to protect yourself from rising rents and lock in your housing cost for the life of your mortgage. Don’t Become Trapped Jonathan Smoke, Chief Economist at realtor.com recently reported on what he calls a “Rental Affordability Crisis”. He warns that, “Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.” The Joint Center for Housing Studies at Harvard University recently released their 2015 Report on Rental Housing, in which they reported that 49% … Continue reading

Why Did Home Sales Drop So Dramatically Last Month?

by Chris Druesedow December 28, 2015

Why Did Home Sales Drop So Dramatically Last Month? | Keeping Current Matters Yesterday, the National Association of Realtors (NAR) released their latest Existing Home Sales Report which covered sales in November. The report revealed that sales: “…fell 10.5 percent to a seasonally adjusted annual rate of 4.76 million in November (lowest since April 2014 at 4.75 million)…” That revelation gave birth to a series of industry articles, some of which quoted pundits questioning whether the housing market was slowing. In actuality, there is one rather simple explanation to much of the falloff in sales last month. It is likely the implementation of the “Know Before You Owe” mortgage rule, commonly known as the TILA-RESPA … Continue reading

Building Family Wealth Over The Next 5 Years

by Chris Druesedow December 22, 2015

Building Family Wealth Over The Next 5 Years | Keeping Current Matters As the economy continues to improve, more and more Americans are seeing their personal financial situations also improving. Instead of just getting by, many are now beginning to save and find other ways to build their net worth. One way to dramatically increase their family wealth is through the acquisition of real estate. For example, let’s assume a young couple purchases and closes on a $250,000 home in January. What will that home be worth five years down the road? Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists every quarter. They ask them … Continue reading

Home Prices: Where Are They Headed Over The Next 5 Years?

by Chris Druesedow December 21, 2015

Home Prices: Where Are They Headed Over The Next 5 Years? | Keeping Current Matters Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. The results of their latest survey: Home values will appreciate by 3.9% by the end of 2015, 3.4% in 2016 and 3.1% in each of the following four years (as … Continue reading

FSBO, List Again or OTM? A Seller’s Dilemma

by Chris Druesedow December 17, 2015

FSBO, List Again or OTM? A Seller’s Dilemma | Keeping Current Matters At the end of December, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and take a closer look at each possibility: Taking Your Home off the Market In all probability, after putting your house on the market and seeing it not sell, … Continue reading

How Long Does It Take To Save A Down Payment?

by Chris Druesedow December 16, 2015

How Long Does It Take To Save A Down Payment? | Keeping Current Matters In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save. According to the study, residents in South Dakota are able to save for a down payment the … Continue reading

Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner

by Chris Druesedow December 15, 2015

Selling Your House? 5 Reasons You Shouldn’t For Sale By Owner | Keeping Current Matters In today’s market, with homes selling quickly and prices rising, some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five of those reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s … Continue reading

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