The #1 Reason To Put Your House On The Market TODAY!

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say,

“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.”

The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days.

Bottom Line

If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Meet with a local RE/MAX Alliance professional who can guide you through the process and discuss the specifics of your market!

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Miracle Makers

We Are Miracle Makers

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Our agents actively support 24+ causes and have deep connections in our community. In our recent office survey, we were overwhelmed with the positive response displaying the great teamwork and community involvement that is evident in our agents and staff. The following is a partial list of what causes are represented by RE/MAX Alliance. Do you see your favorite cause listed? If so, ask us how to partner with us:

Children’s Hospital of The King’s Daughters (CHKD)
Foodbank of Southeastern Virginia and the Eastern Shore
Greater Hampton Roads Diaper Bank / Hampton Roads Diaper Drive
Seton Youth Shelters
Virginia Aquarium & Marine Science Center
Susan G. Komen Tidewater / Susan G. Komen
Wounded Warrior Project
Best Friends Animal Society
USO of Hampton Roads and Central Virginia / USO
Veterans Resource Center
Habitat for Humanity of South Hampton Roads, Inc. / Habitat for Humanity International
Best Day Foundation / Best Day Foundation Chesapeake Bay
Children’s Miracle Network Hospitals
VAREP National
Special Olympics Virginia / Special Olympics
St. Jude Children’s Research Hospital
Young Life
Ronald McDonald House Charities of Norfolk VA
American Cancer Society – Hampton Roads
CMN Miracle Office / Children’s Miracle Network Hospitals Southwest Virginia
PIN Ministries
JCOC
VA/ VRC Memorial Fund
Phi Beta Sigma, Inc.
Crisis Pregnancy Center
OrphaNetwork
and many more…

Keep up the good work!

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50% Of Homes Sold In 30 Days In March [INFOGRAPHIC]

Some Highlights:

  • The National Association of REALTORS® recently surveyed their members for their Confidence Index.
  • The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. Practitioners are asked about their expectations for home sales, prices and market conditions.
  • Homes sold in less than 60 days in 35 out of 50 states and Washington D.C.
  • Homes typically went under contract in 30 days in March!

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Hampton Roads Homes

Millionaire To Millennials: Don’t Rent A Home… Buy!

In a CNBC article, self-made millionaire David Bach explained that: The biggest mistake millennials are making is not buying their first home.” He goes on to say that, “If you want to build real financial security, real wealth for your lifetime, then you need to buy a home.

Bach went on to explain:

“Homeowners are worth 40 times more than renters. Now, that first home doesn’t need to be a dream home, it can be a very small home. You might literally have to buy a small studio apartment, but that’s how you get started.” 

Then he explains the secret in order to buy that home!

Don’t do a 30-year mortgage. You want to take that 30-year mortgage and instead pay it off early, do a 15-year mortgage. What happens if you do a 15-year mortgage? Well, one, you pay the mortgage off 15-years sooner, that means you’ll be able to retire in your fifties. Number two, you’ll save a fortune (on potentially hundreds of thousands of dollars in interest payments).”

What will it cost to pay your mortgage in fifteen years? He explains further:

“For fifteen years, you got to brownbag your lunch. Think about that! Brownbag your lunch literally for fifteen years. You can retire ten years sooner than your friends. You’ll have real wealth, because you bought a home – you’re not a renter. And you’ll be financially secure for life.”

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.

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RE/MAX Alliance Homes