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With Inventory Low: Will Your Dream Home Need Some TLC?

According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value!

Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate.

“The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating.

Replete with inspiration at their fingertips – like Pinterest, Instagram, and various home renovation TV shows – some home shoppers are comfortable tackling home renovation jobs to find a home that balances their needs with their budget.”

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Just over half of all respondents who said they would be willing to buy a home in need of some Continue reading…

Selling Your House: Here’s Why You Need A Pro In Your Corner!

With home prices on the rise and buyer demand still strong, some sellers may be tempted to try to sell their homes on their own rather than using the services of a real estate professional. I have had quite a few of my customers give it a go this year. 90% of them have called me after several weeks and asked me to list their home. They could not find the right buyer.

Real estate agents are trained and experienced in negotiation while, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families. Many sellers are very emotionally attached to their homes and end up causing the deal to fall apart because of this. It effects the entire negotiation process. There are many more contributing factors but this is a big one!

HIRE AN EXPERT TO SELL YOUR HOME – HIRE JAMES JESTES

Here is a list of just some of the people with whom the seller must be prepared to negotiate if they decide to For Sale by Owner (FSBO):

The buyer, who wants the best deal possible
The buyer’s agent, who solely represents the Continue reading…

5 Reasons Why Millennials Buy a Home [INFOGRAPHIC]

Some Highlights:

“The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
The top reason millennials choose to buy is to have control over Continue reading…

Buyer Demand Surging as Spring Market Begins

Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.

However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).

DON’T WAIT TO BUY – SAVE MONEY BY BUYING NOW

Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Why the increase in demand? Increased buying power.

According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become Continue reading…

Are Low Interest Rates Here to Stay?

Interest rates for a 30-year fixed rate mortgage have been on the decline since November, now reaching lows last seen in January 2018. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates came in at 4.12% last week!

This is great news for anyone who is planning on buying a home this spring! Freddie Mac had this Continue reading…

Homeowners: Now Is A Good Time To Sell Your House

Every month, the National Association of Realtors (NAR) releases their Seller Traffic Index as a part of their Realtors Confidence Index. In the latest release, NAR reported that homeowners have been reluctant to sell their houses. This is reflected when broken down by state. Only 11 states have a stable level of seller traffic compared to the remainder of the country, which came in with a weak rating.

As we can see in the following table, the number of people who moved last year is half of what the rate was in the 1980s.

This does not come as a surprise, as tenure length (the number of years someone owns a home before moving again) among existing homeowners has increased. It has risen from an average of 6 years from 1985 to 2008, up to 9.5 years Continue reading…

3 Questions You Need To Ask Before Buying A Home

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following three questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a study by realtor.com found that “73% said buying in a good school district was “important” in their search.”

HOMES FOR SALE IN TOP RATED SCHOOL DISTRICT – PORT ORANGE

This report supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. The actual reasons are:

A good place to raise children and provide them with a good education
A place where you and your family feel safe
More space for you and your Continue reading…

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights:

The average down payment for first-time homebuyers is only 6%!
Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate!
88% of property managers raised their rents in the last 12 months!
The average credit score on approved loans continues to fall across many loan types!

Home Value Appreciation Stops Falling, Begins to Stabilize

The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.

In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:

“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the January survey.”

HIRE AN EXPERT TO SELL YOUR HOME HIRE JAMES JESTES

The thinking that home appreciation has bottomed-out was also confirmed in two additional housing reports recently released:

CoreLogic Home Price Index – The analysts at CoreLogic increased their projection for home appreciation for the next twelve months to 4.7% as compared to the 4.6% they projected in their previous report. Continue reading…

Home Buyer Demand Will Be Strong for Years to Come

There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”.

And while this might be true for some millennials, more and more research has surfaced that shows for the vast majority, owning a home is a major part of their American Dream! Millennials are not looking to just be in the city, they are raising families and becoming a big part of the home owner crowd at Home Depot and Lowes in the suburbs and small towns all across the greater Daytona Beach area!

WHY RENT WHEN YOU CAN OWN IN DAYTONA BEACH

New research shows that 66% of millennials who currently rent are determined to buy a home! Seventy-three percent of those surveyed by Pulsenomics plan to buy a home in the next five years, with 40% planning to do so within the next two years!

“Millennials want to own a home as much as prior generations,” Ali Wolf, Director of Continue reading…

With Inventory Low: Will Your Dream Home Need Some TLC?

Selling Your House: Here’s Why You Need A Pro In Your Corner!

Here is a list of just some of the people with whom the seller must be prepared to negotiate if they decide to For Sale by Owner (FSBO):

5 Reasons Why Millennials Buy a Home [INFOGRAPHIC]

Some Highlights:

Buyer Demand Surging as Spring Market Begins

Why the increase in demand? Increased buying power.

Are Low Interest Rates Here to Stay?

Homeowners: Now Is A Good Time To Sell Your House

3 Questions You Need To Ask Before Buying A Home

1. Why am I buying a home in the first place?

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights:

Home Value Appreciation Stops Falling, Begins to Stabilize

Home Buyer Demand Will Be Strong for Years to Come

James Jestes, Your new favorite Realtor.

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