Blog

Why An Easy Commute Should Be On Your Wish List

If you're thinking of buying a home and are spending all of your time dreaming of the type of kitchen you want or how big you'd like your master suite to be, there may be a thing or two to add to your wish list before you start your search. For example, have you considered the importance of having a short commute to work each day? Almost 11 million Americans drive an hour or more to work each way and the average commute has been getting longer over the past several years. So, if you're lucky enough to have never sat in traffic after a long day at the office and don't know just ...

June 6th, 2017 | Housing Outlook, New Home Buyer, Why An Easy Commute Should Be On Your Wish List

What Pending Sales Numbers Mean For Buyers

The National Association of Realtors' Pending Home Sales Index is a good indication of where home sales will be a month or two down the road. That's because, it measures the number of signed contracts that occurred during the month, rather than the number of closings. And since there is typically about a month between having an offer accepted and closing the deal, the number of pending sales can be a pretty accurate predictor of future home sales numbers. According to the most recent release, pending sales were down 1.3 percent in April from the month before. Lawrence Yun, NAR's ch...

June 5th, 2017 | housing market, Housing Outlook, Mortgage Rates, New Home Buyer, What Pending Sales Numbers Mean For Buyers

Prices Move Higher As Homeowners Stay Put

Widely seen as the leading measure of U.S. home prices, the S&P Dow Jones Indices is a monthly look at home values that has been conducted for more than 27 years. According to the most recent release, national home prices are up 5.8 percent over last year, with the largest gains seen in the West and South. David M. Blitzer managing director and chairman of the index committee at S&P Dow Jones Indices, says there's some regional variation in how quickly prices are rising, but generally the issue is the number of homes available for sale. “Over the last year, analysts suggested...

May 31st, 2017 | , housing market, Housing Shortage, Housing Outlook, Prices Move Higher As Homeowners Stay Put

Renovations And The Cost Of Selling

It isn't just the home's buyer who has to settle up at the end of the closing process, sellers have costs too. In fact, according to one recent estimate, the average seller spends $15,000 before they hand over the keys to their home's new owner. A big part of that is closing costs, agent commission, and any repairs required following the home's inspection. But another chunk of that is renovations done before the sale. In fact, a large majority of homeowners fix up their homes before putting them on the market. Things like having the home painted, cleaned, and staged can add up ...

May 30th, 2017 | housing market, Housing Outlook, Housing Shortage, Mortgage Rates, New Home Buyer, Renovations And The Cost Of Selling

Today's Typical Home Sells In Less Than A Month

Home buyers are out in large numbers this spring. Proof of that can be found in the most recent sales report from the National Association of Realtors. Their monthly tally of how many previously owned homes sold the month before found that the typical home for sale was on the market for just 29 days in April, down from 34 days the previous month. That's a strong indication that buyer demand is outpacing the number of homes for sale this spring. And that's saying something, especially since April saw a 7.2 percent increase in for-sale inventory by the end of the month. In other words, t...

May 26th, 2017 | housing market, Housing Outlook, Housing Shortage, New Home Buyer, Today's Typical Home Sells In Less Than A Month

Rents Are Increasing In the Suburbs Too!

There are two groups commonly associated with renting. One is young people. The other is people living in urban centers. Conjure up an image of the typical renter and you'll probably end up imagining someone in their 20s living in a downtown apartment building. The suburbs, on the other hand, have been traditionally thought of as the place you move to when you're ready to settle down and buy a house. However, new numbers tell a different story. In fact, the latest data shows rental costs are actually rising faster in the suburbs than in cities. Why? There are a couple of reasons. First...

May 25th, 2017 Rents Are Increasing In the Suburbs Too!