Why list your home now? Here’s why…

28 01 2013

5 Reasons You Should List Your House TODAY!


Points About PointsMany homeowners are waiting until the Spring ‘buying season’ to list their homes for saleHere are five reasons why that might not make sense this year:

1.) Demand Is High

Homes are selling at a pace not seen since 2007. The most recent Existing Home Sales Report by the National Association of Realtors (NAR) showed that annual sales in 2012 increased 9.2% over 2011. There are buyers out there right now and they are serious about purchasing.

2.) Supply Is Low

The monthly supply of houses for sale is at its lowest point (4.4 months) since May of 2005. The current month’s supply is down 21.6% from the same time last year. Historically, inventory increases dramatically in the spring. Selling now when demand is high and supply is low may garner you your best price.

3.) New Construction Is Coming Back

Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative to many purchasers.

4.) Interest Rates Are Projected to Inch Up

The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013. Whether you are moving up or moving down, your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.

5.) Timelines Will Be Shorter

The dramatic increase in transactions caused many challenges to the process of buying or selling a home in 2012. We waited for inspections, dealt with last minute appraisals and prayed that the bank didn’t ask for ‘just one more piece of paper’ before issuing a commitment on the mortgage. There are fewer transactions this time of year. That means that timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.

These are five good reasons why you should consider listing your house today instead of waiting.

 

Source: KCM Blog





Ever Wonder How Long it Takes to Complete a Foreclosure?

15 01 2013

Time It Takes to Complete a Foreclosure [INFOGRAPHIC]

InfoGraphic Source:  KCM Blog





National Housing Reports Look Strong

2 01 2013

The KCM Blog – Housing: Year End Reports Reveal Market Coming Back 

 

Housing: Year End Reports Reveal Market Coming Back

Posted: 02 Jan 2013 04:00 AM PST

Housing MarketEvery year-end housing report revealed that the real estate market is recovering quite nicely. Here is a quick synopsis of each:

Existing Home Sales Report

  • Total existing-home sales rose 5.9 percent in November over last month
  • Sales are 14.5 percent higher than November 2011
  • Sales are at the highest level since November 2009
  • The national median existing-home price was $180,600 in November, up 10.1 percent from November 2011
  • Total housing inventory at the end of November fell to a 4.8-month supply; it was 5.3 months in October, and is the lowest housing supply since September of 2005 when it was 4.6 months

Pending Sales Report

  • Pending home sales increased in November for the third straight month and reached the highest level in two-and-a-half years
  • The index is at the highest level since April 2010 when buyers were rushing to beat the deadline for the home buyer tax credit
  • With the exception of several months affected by tax stimulus, the last time there was a higher reading was in February 2007
  • On a year-over-year basis, pending home sales have risen for 19 consecutive months

New Home Sales Report

  • Sales of new homes rose 4.4% in November to a two-and-a-half-year high
  • This is the highest level since April 2010, when a temporary tax credit boosted demand.
  • Sales are now 15.3% higher compared to one year ago

Case Shiller Home Price Index

  • Home prices rose 4.3% in the 12 months ending in October
  • In nineteen of the 20 cities covered, annual returns in October were higher than September