Although it’s easier to sell a home now than it has been in years, it’s still a complex process with loads of decisions to make and relationships to manage. Plus, the timing and outcome of your home’s sale has a huge effect on your daily life, now and in the future, so you’ve got to get it right. Learn why the 3 D’s — delegation, detachment, and diligence — are critical skills that every home seller on today’s market should master!
Can You Afford to Wait to Buy a Home?
Home prices and mortgage interest rates are rising, and people looking to buy a home for the first time are feeling the pressure.
In this installment of MSN’s Buying Advice, agents, a housing analyst and an economist share what to expect this year, and the latest housing statistics are also included.
July Home Maintenance Checklist
Take advantage of warm weather while playing or doing chores to also cast a protective eye on your home and landscaping. By paying attention, you’ll learn to spot deterioration or changes before they turn into problems.
Use the good weather to clean and repair asphalt, concrete and fences. Prune or remove problem trees and protect landscaping from deer. Conduct your own home-energy audit and put insulating foam jackets on hot-water pipes.
Price Per Square Foot Rising in Most Markets
As the economy continues to grow jobs, consumer confidence rises and residential rental rates increase, the demand for housing rises. Given a very tight inventory of builder-ready lots, new home construction is trailing demand. As a result, asking prices for both new and existing homes, and ultimately sales prices, are climbing. In some cities prices are literally rocketing.
Dr. Ted Jones is Stewart Title’s Vice President/Chief Economist and Director of Investor Relations. You may read this article on his blog…
Does the Early Bird Catch the House?
If you’re trying to grab a good house for sale before someone else does, does it help to get up early?
That’s hard to say. But an analysis of when would-be buyers are perusing listings at HomeFinder.com at least tells you when your fellow shoppers are online.
There are night owls and there are early birds, the company found.
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Do you prefer to surf the web in the early morning or late at night? Leave a comment here and let us know!
Seattle Housing Market One of the Most Competitive in the U.S.
Low inventory and interest rates are why Realtors call Seattle one of the most competitive housing markets in the country.
“Good houses are disappearing instantly, you look at it one day online and say honey maybe we should look at this Sunday. By then, it’s already pending,” said Charles Harper, a home buyer.
According to the Northwest Listing Service, the median price of homes in Snohomish County is up 14 percent, and up 10 percent in both King and Pierce Counties.
Are Appraisals Finally Playing Catch-Up?
Many real estate professionals have been blaming low appraisals for derailing transactions over the last few years. But now home prices are heating up across the country. Are appraisals still coming in lower than the agreed-upon sales price?
Even with prices rising and the number of foreclosures falling, some appraisers say assigning a value to a property isn’t getting any easier. One of the big reasons, they say, is because of low inventories in many markets. “An undersupply of available homes has prompted bidding wars above list price, a price that isn’t necessarily justified by an appraisal,” The Chicago Tribune reports.
Bizarre Mortgage Requests Delay Borrowers
Underwriters are being extra vigilant in verifying every detail of a mortgage application, and some of their requests for information, borrowers say, are downright odd.
For example, one borrower says an underwriter demanded a letter from his doctor that an illness he had would never come back. Another borrower says that an underwriter told her she needed to get verification from her employer on her employment status when she listed “homemaker” as her occupation.
A borrower said an underwriter asked him for a letter of explanation on a $6 deposit he made (the borrower earned $10,000 a month at the time).
Buyer Beware: The Real Estate Technology Prognosticator
For agents hoping to incorporate more technology into their real estate businesses, the wide-ranging advice can be overwhelming. Brokers, agents, vendors, coaches, and technology celebrities all have different ideas on how you should focus your efforts and the expectations that you should have for your success.
It’s tempting to try to do a little bit of everything. The low-hanging fruit is the latest online product, app or social media craze. With a new prognosticator stating that “this is the one thing every agent should be doing” every week, it can be difficult to resist dipping your toe into all of the newest technological ventures. Since many of them are free, the low barrier to entry encourages a “try everything” approach.
Luxury Real-Estate Flippers
There is a new breed of quick-change artist on the real-estate front: luxury flippers who focus on high-end properties.
Popular before the housing bust, house flipping—where a property is bought, renovated and sold quickly to make a profit—is seeing a comeback nationwide. Rising prices and tight inventory are driving more investors to the upper end of the market. Flips of homes priced at $1 million or more shot up 35% in 2012 compared with 2011, according to market researcher RealtyTrac.
