March 13, 2014 10:12 am
The KCM Crew welcomes back Nikki Buckelew as our guest contributor today.
Congratulations! You received a “come list me”
call from one of your mailings and have just scheduled a new listing appointment!
The home is located in a highly sought after part of town where the property values have steadily increased and homes are selling quickly. The homeowner tells you that the home is free-and-clear and that she is moving to another state to live with her daughter. You are already thinking to yourself, “Why can’t they all be this easy?”
March 12, 2014 10:03 am
released their Rent vs. Buy Report
last week. The report explained that homeownership remains cheaper than renting in all of the 100 largest metro areas by an average of 38%!
The other interesting findings in the report include:
- Even though prices increased sharply in many markets over the past year, low mortgage rates have kept homeownership from becoming more expensive than renting.
- Some markets might tip in favor of renting this year as prices continue to rise faster than rents and if – as most economists expect – mortgage rates rise, due both to the strengthening economy and Fed tapering.
- Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989.
March 11, 2014 9:57 am
There has been a lot of chatter about the last few Existing Home Sales Reports
from the National Association of Realtors
(NAR). Year-over-year sales have been down four of the last five months. Experts are asking whether or not the housing recovery is beginning to stall. Let’s take a closer look at the data.
It is true that last month’s annualized sales rate of 4.62M was less than the 4.87M reported last January. However, after further scrutiny, the report reveals an interesting situation: sales of non-distressed properties are actually up. In January 2013, 23% of the 4.87M sales were distressed properties (foreclosures and short sales) meaning 3.75M non-distressed properties
were sold. In January 2014, 15% of the 4.62M sales were distressed properties. That means 3.93M non-distressed properties sold
- an increase of 180,000 sales.
When we dig deeper
into NAR’s research, we also see that homes at the higher price points are selling at greater increases than the lower price points.
March 10, 2014 9:48 am
Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.
The results of their latest survey
The latest survey was released last week. Here are the results: