Thinking Of Selling? You Should Do It TODAY!!

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!

In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”

And this situation will be affected greatly by recent natural disasters. Yun continued by saying:

“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”

NAR, in their August 2017 Realtors® Confidence Index, indicated that:

“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”

The only challenge to today’s market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is only a 4.2-month supply of inventory, which is down from 4.5 months one year ago.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Contact a local real estate professional today to see if that is the case in your neighborhood.

Source

Virginia Beach Homes 

Advertisements

Lack Of Existing Home Inventory Slows Sales Heading Into Fall [INFOGRAPHIC]

20170922-EHS-Report-KCM

Some Highlights:

  • The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report.
  • First-time homebuyers made up 31% of all sales in August.
  • Homes are selling quickly with 51% of homes on the market for less than a month.
  • A limited supply continues to drive up prices for the 66th consecutive month.

Source

Virginia Beach Homes For Sale

Thinking Of Selling Your Virginia Beach Home? You Should Act NOW!

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale in Hampton Roads is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Virginia Beach Home

Thinking of selling your Virginia Beach home?

Lawrence Yun, Chief Economist at the National Association of Realtors, recently commented:

“Buyer interest is solid, but there is just not enough supply to satisfy demand. Prospective buyers are being sidelined by both limited choices and home prices that are climbing too fast.”

Yun goes on to say:

“Current demand levels indicate sales should be stronger, but it’s clear some would-be buyers are having to delay or postpone their home search because low supply is leading to worsening affordability conditions.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction, including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

Source

Virginia Beach Homes

Weekly Marketing Tip

Video Tips

-Know your audience                                                                    -Live-streams (Open Houses, etc.)

-Interviews                                                                                       -Listing videos

-How-to videos                                                                               -Agent promotion

-Local business reviews                                                               -Neighborhood videos

-Testimonials

 

FREE App of the Week

Gboard-  A new keyboard from Google – One of the new apps talked about at the R4 Convention.  Gboard is an app that has everything you would expect from a great keyboard – GIFs, emojis, and Glide Typing plus Google Search built in.  No more app switching; just search straight from a text message and send right from the keyboard.  Search nearby stores and restaurants, videos and images, weather forecasts, news articles, sports scores and so much more with Gboard.

gboard 1.JPG gboard 2

Virginia Beach Homes

The Great News About Rising Prices for Homeowners

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. As we mentioned before, in some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.

The great news about rising prices, however, is that according to CoreLogic’s US Economic Outlook, the average American household gained over $11,000 in equity over the course of the last year, largely due to home value increases.

The map below was created using the same report from CoreLogic and shows the average equity gain per mortgaged home from June 2015 to June 2016 (the latest data available).

20170215-kcm-eng

For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new-found equity in their homes and themselves, not in depreciating assets.

The added equity is helping families put their children through college, invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.

Bottom Line

CoreLogic predicts that home prices will appreciate by another 5% by this time next year. If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, contact an agent in your area to discuss your options!

Source

Virginia Beach Homes Virginia Beach Homes 

Weekly Marketing Tip

Weekly Marketing Tip

Video Marketing

  • By the end of 2017, video content will represent 74% of all internet traffic.
  • Create short videos with content that others are likely to share.
  • Post videos on social media and always include your contact info and a link to your website.
  • Ideas include: Reasons to buy or sell now, tips for seasonal home maintenance, why you love what you do, the home buying process simplified, how to transform your home on a budget, etc
  • Get the ball rolling this year with video marketing and be sure to track how many views, likes, shares you get so you know what is working and what is not.

 

video_content_marketing_640x320FREE App of the Week

Viber- Viber is a free messaging and calling app that keeps you connected to anyone in the world through your internet connection.  Make audio or video calls, text, share photos and videos, send stickers and even send files.  You can create a group chat, make long-distance calls, delete messages right after sending, hide chats, and so much more.  All messages and calls are protected by end-to-end encryption.

Virginia Beach Homes

Millionaire’s Advice to Millennials: Buy a Home!

20170105-kcm-share

Last week, CNBC ran an article quoting self-made millionaire David Bach explaining that not purchasing a home is “the single biggest mistake millennials are making”because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Timesbestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show appearing more than 100 times, has been a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS, and has been profiled in many major publications, including The New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, The Washington Post, The Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

Virginia Beach Homes 

Source