You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
Homebuyers and homesellers: Did you know? Corelogic's latest Home Price Forecast projects a price increase of over 5% by the end of the year.
CoreLogic: Expect home prices to rise 5% by next November
“The CoreLogic HPI projects future home price growth based on several economic variables and measures the number of owner-occupied households in each state.
According to CoreLogic’s data, home prices increased by 0.5% from October and are now projected to increase by 5.3% come November 2020.”
The HMI remains at a decades-long high. While there is still a shortage of lots, labor, and inventory for starter homes, the rising expectations for construction and sales in 2020 continue to look steady.
Home Builders Confidence Remains Near 20-Year High
"The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) settled back a bit after its 5-point surge in December took it to its highest level since 1999. The Index, a measure of builder confidence in the market for newly constructed homes, dipped 1 point in January to 75, still remaining above that earlier high.
NAHB said, 'With the Federal Reserve on pause and attractive mortgage rates, the steady rise in single-family construction that began last spring will continue into 2020. However, builders continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes.'"
Prepare for your home purchase with this handy step-by-step guide from Redfin to help you. Contact us for more knowledge and strategies.
The Ultimate Step-by-Step Guide to Buying a House
"Buying a house for the first-time or even second time can be extremely exciting, but it can also be one of the most complex purchases of your life. Not knowing what to do when and how to start can make it even more daunting. To simplify things, we’ve broken down the timeline and created a step-by-step guide to help you navigate all the twists and turns along the way."
Recent analysis of 1.2 million listings from 2019 shows that the top 3 most frequently used feature descriptions for all homes priced under $5 million were the same. Read on to find out what they were!
The most popular features in real estate listings
"Point2Homes, a real estate listing website, analyzed the language in 1.2 million home listings across the U.S. and came up with the most common phrases."
Housing market sentiment was up last month, according to Fannie Mae. This buyer AND seller optimism may be a great sign for the new year! Contact us today for more knowledge and strategies.
Housing market sentiment rose in December, Fannie Mae says
"Housing market sentiment rose in December, according to Fannie Mae, as a strong labor market and low mortgage rates boosted consumer confidence.
[...]
Sellers also were optimistic. The share of people who said it was a good time to put a home on the market rose to 65%, up 7 percentage points from a year earlier, and a gain of 3 percentage points from November."
Did you know? Half of the neighborhoods with the most competitive housing markets of 2019 are in the Bay Area, according to Redfin. Contact us today to see how we can help you.
Redfin Ranks the Most Competitive Neighborhoods of 2019
"Although bidding wars have declined on a national level, in the Bay Area, home to half of the 20 most competitive neighborhoods of 2019, it can still be difficult for buyers to win homes."
According to the Federal Reserve, U.S. home values rose to a record high in the 3rd quarter. Are you making the best use of your home equity? Contact us today!
U.S. home values rise to record $29.2 trillion, Fed says
"The value of all U.S. owner-occupied homes increased to a record $29.2 trillion in the third quarter, according to a Federal Reserve report known as the Flow of Funds.
[...]
Lower mortgage rates support continued gains in home values, which are based on what comparable homes sell for, because cheaper financing means people shopping for homes qualify for higher-balance mortgages and can bid more for properties they want."
It’s a case of “the more, the merrier” when a new family moves into your neighborhood! You want them to feel comfortable, and one means to that end is to reach out. What would television’s Mr. Rogers, the king of kindness do? Here are a few simple ways to roll out the welcome wagon:
1. Lend a hand. Moving is a lot of work, but many hands lighten the load. Offer to bring in a few boxes or help move a large item as a show of neighborly good faith. Even if they don’t take you up on the offer, they’ll still appreciate the sentiment. Check in again after they are settled in to see if there’s any way you can help.
2. Bring over a treat. Whether store bought or homemade, there’s nothing more welcoming than something sweet. Bring over a pie, cookies, donuts, or muffins and use it as an excuse to introduce yourself to the new faces. Include a handwritten note and you have the perfect recipe for hospitality!
3. Offer a meal. With kitchen tools and appliances likely still boxed up, getting dinner on the table is going to be difficult. Your new neighbors will appreciate not having to worry about another detail.
4. Suggest your favorites. If your new neighbors are moving in from out of town or state, they likely don’t have much familiarity with the area. Ease their transition by putting together a packet with some neighborhood staples — favorite places to eat, shop and more. Give your recommendation for the best restaurants and grocery stores, and they’ll start to feel right at home.
5. Introduce the kids. Offer to have their kids come over and play with your kids. After they have settled in, provide useful information about local schools and amenities for children.
These simple acts of service can help you make it a “beautiful day in the neighborhood.”
Did you know homebuyers are willing to pay more for certain home features? According to a recent survey, these are the top features house hunters say they want most. Contact us for more knowledge and strategies.
10 Home Features That Are Most In Demand
"A back porch or deck, newly renovated kitchen, and hardwood flooring are among the top home features house hunters say they want most, according to a new survey by Porch.com, a home remodeling site. Further, buyers are willing to pay between $2,500 and $4,500 more for a home with these features, shows the survey of more than 980 recent home shoppers. Consumers are embracing outdoor space, as a back porch or deck was the feature Americans most wanted in their home, according to the survey. Some buyers are willing to sacrifice square footage for greater access to outdoor space, Porch.com researchers note."
Today’s tip: When signing closing documents, don’t sign any forms with blank lines or spaces. Contact us for more knowledge and strategies.
