Make Minot Home Real Estate Blog

Oct. 7, 2017

More Americans Say Now is a Good Time to Sell!


More Americans Say Now is a Good Time to Sell!

More Americans Say Now is a Good Time to Sell! | MyKCM

Recently published data from Fannie Mae’s National Housing Survey showed that rising house prices were the catalyst behind an eight-point increase in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year.

Overall, 62% of Americans studied said that now is a good time to sell (up from 58%), while 26% of respondents said that now is not a good time to sell (down from 30%). The remaining score is the contrast between the two percentages, or 36%.

According to CoreLogic, house prices are now up 6.7% over last year and 78.8% of homeowners with a mortgage in the US now have significant equity (defined as 20% or more).

As home prices have risen, more and more homeowners have realized that now is a good time to sell their homes in order to take advantage of the extra equity they now have.

At the same time, though, increasing prices have had the exact opposite impact on the good-time-to-buy scale as many customers are nervous that they will not be able to afford a home; the net score decreased 5 points to 18%.

Doug Duncan, Vice President & Chief Economist at Fannie Mae, had this to say,

“In the early stages of the economic expansion, home selling sentiment trailed home buying sentiment by a significant margin. The reverse is true today.

The net good time to sell share is now double the net good time to buy share, with record high percentages of consumers citing home prices as the primary reason for both perceptions. Such a sizable gap between selling and buying sentiment, if it persists, could weigh on the housing market through the rest of the year.”

Buyer demand continues to outpace the number of homes for sale, which has pushed prices up across the US. Until the supply starts to adequately match demand, there will be a gap between the opinions surrounding buying and selling.

Bottom Line

If you are thinking of listing your home for sale this year, now is the time!

Considering selling your home, get a no obligation home value estimate by simply clicking here.

Posted in Sell My House
Oct. 7, 2017

How to Get the Most Money from the Sale of Your Home

Maximize your home savings


Every homeowner wants to ensure they maximize their financial prize when selling their home. But how can you guarantee you get maximum value for your house? Here are two keys to make sure that you get the best price possible.

1. Price it just a little LOW

This may appear counterintuitive. However, let’s look at this concept for a moment. Many homeowners believe pricing their home a little OVER market worth will leave them area for negotiation. In actuality, this just significantly lessens the demand for your house (see chart below).

Maximize your property value

Rather than the seller trying to ‘win’ the negotiation with one buyer, they should price it to ensure that demand for the house is maximized. Using this method, the seller will never be fighting with a buyer over the purchase price, but will instead have multiple purchasers fighting with one another over the house.

 

Realtor.com gives this advice:

 

“Aim to price your premises at or just slightly below the going price. Today’s buyers are highly educated, so if they sense they’re obtaining a deal, they’re more likely to bid up a property that’s slightly underpriced, specifically in areas with low inventory.”

 

2. Use a genuine Estate Professional

 

This, too, may appear counterintuitive. Owner may think they would make more money if they didn’t have to pay a real estate commission. With this getting said, studies have proven that homes typically sell for additional money when handled by a genuine estate professional. A new research by Collateral Analytics, reveals that FSBOs don’t actually save hardly any money, and in some cases could be costing themselves more, by not listing with an agent. In the analysis, they analyzed home product sales in a variety of markets in 2016 and the first half of 2017. The info showed that: “FSBOs tend to sell for decrease prices than comparable home sales, and perhaps below the average differential represented by the prevailing commission rate.” The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of comparable properties is about 5.5%. Sales in 2017 recommend the average cost was near 6% lower for FSBO sales of very similar properties.

 

Bottom Line

 

Price your home at or somewhat below the current market value and hire a specialist. This will guarantee that you maximize the price you get for your home.

 

To get your no obligation home value estimate click here.

Posted in Sell My House
March 25, 2010

What To Look For In Your Real Estate Agent

How do you choose the team who are going to help you make your vision of owning a home a reality? What should you be looking for? How do you know if you’ve picked the right Realtor©?

The most important trait that you should be looking for in your Realtor© is a person who is going to take the time and effort to really educate you on the options available to you in today’s real estate market.

As Dave Ramsey, the famous financial adviser, suggests:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. 

Ask your family and friends for recommendations of agents whom they have used before and have had great buying experiences with. Look for a Realtor© who will be honest and dependable, and someone you can rely on; after all, you will be trusting them with helping you make one of the largest monetary decisions of your lifeWhether this is your 1st or 5th time purchasing a house, you want to make certain that you have an agent who is going to have the difficult discussions with you, not just the easy ones. If your offer isn’t accepted by the real estate seller, or they believe that there may be something wrong with the house that you’ve fallen in love with, you would rather know what they think than make an expensive mistake.

According to a Zillow Consumer Housing Trends Report, millennials have now started to favor a more hands-on approach to their real estate experience:

“While older generations rely on real estate agents for information and expertise, millennials expect real estate agents to become trusted advisers and strategic partners.”Watch for a Realtor© to invest in your family’s future with you. You want a Realtor© who isn’t focused on the transaction but is rather focused on helping you learn the process while helping you find your dream place.

Bottom Line

In this world of Google online searches, where it seems like all the solutions are just a mouse-click away, you need a Realtor© who is going to teach you and share the knowledge that you need to know before you even know you need it. To learn more about Betsy Edwards, and Make Minot Home Real Estate click here.

 

 

Posted in Buying A Home
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