5 Reasons Why To Sell This Spring!

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Here are five reasons listing your home for sale this spring makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enoughhomes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 45 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

Source

Virginia Beach Homes

Should I Wait Until Next Year To Buy? Or Buy Now? [INFOGRAPHIC]

Some Highlights:

  • The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
  • Freddie Mac predicts interest rates to rise to 5.1% by 2019.
  • CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months.
  • If you are ready and willing to buy your dream home, find out if you are able to!

Source

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

Weekly Marketing Tip

 

Weekly Marketing Tips

Marketing Who You Are vs. What You Do

  • How many times have you seen a vague tagline such as “Number One Agent”? (Who says? And how does that tell me what you’ll do for me?)
  • If you have a particular expertise in real estate or a certain set of traits that makes you a good salesperson, then use the “who you are” approach. For example, the tagline “Condo King” emphasizes the agent’s expertise and defines the audience he or she is targeting.
  • But if you’re better known for your actions or for providing a certain type of service, then you should consider the “what you do” approach. For example, with the instantaneousness of technology these days, it’s become more important for agents to respond immediately to queries from leads. So if you’re known for responding promptly — an important action you take — then you might consider a tagline like “Always on Call.”

FREE App of the Week

IF by IFTTT – This app is a clever way for unrelated apps on your mobile device to work together.  You can create “recipes” that involve a “trigger” (this) and a subsequent action (that).  An example would be connecting Evernote and Dropbox so that all Evernotes are converted to PDF and then saved automatically in Dropbox.  You can create a “recipe” that can send you a text message if the weather calls for rain.  There are many “recipes” to help you run your business!

if-1 if-2

Virginia Beach Homes

 

 

How Do Rising Prices Impact Your Home Equity?

Over the next five years, home prices will appreciate 3.5% per year on average, and cumulatively will grow by around 18%.

So what does this mean for homeowners and their equity position?

For example, let’s assume a young couple purchased and closed on a $250,000 home in January of this year. If we only look at the projected increase in the price of that home, how much equity would they earn over the next 5 years?

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Since the experts predict that home prices will increase by 4.5% this year alone, the young homeowners will have gained over $11,000 in equity in just one year.

Over a five-year period, their equity will increase by over $46,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Source

Virginia Beach Homes

New Home Sales Up 25.4% Last Month

According to the latest Census Bureau Report, sales of newly constructed homes soared to new heights in June to a seasonally adjusted rate of 592,000. This marks the highest annual rate in 8 years.

Trulia’s Chief Economist, Ralph McLaughlin had this to say:

“New home sales jumped sharply in June, and marked the best month since February 2008. This is a continued sign that demand for homes remains solid and aptly reflects increasing homebuilder confidence.” 

Sales have been climbing consistently over the last six months as shown in the graph below.

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One of the many reasons why many homeowners turn to the new homes market to find their dream home is due to the lack of existing homes for sale. As we have mentioned before, buyer demand is outpacing the supply of homes for sale at record rates.

Virginia Beach Homes

Source

Buyer Demand Continues to Outpace the Supply of Homes For Sale

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“With demand holding firm and homes selling even faster than a year ago, the notable increase in closings in recent months took a dent out of what was available for sale.

Realtors are acknowledging, with increasing frequency lately, that buyers continue to be frustrated by the tense competition and lack of affordable homes for sale in their market.”

The latest Existing Home Sales Report shows that there is currently a 4.6-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and 5.8% lower than June 2015.

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Source

Virginia Beach Homes