Posts in Real Estate Industry News (page 2)

Real Estate Industry News

When Is the Best Time to Sell?

Is There a Best Day and Time to List Your Home? There Is, You Will Be Surprised

You’ve heard the old cliché, “Timing is everything.” However, in real estate, it’s a universally known truth. And real estate selling requires some pretty specific timing to ensure new listings are spot on, center-stage. In fact, listing a home on a specific day of the week – and a particular time of day, can help it sell faster and for more money. What is this magical combination?

It’s Not the Weekend

Listing a home for sale on Saturday may seem like the ideal plan: When potential buyers are off and able to peruse new listings. But post-print, this is no longer the case. Sunday is actually the worst day to list, according to a recent survey from Redfin. (Sorry, old-school Sunday paper aficionados.)

Buyers Like to Plan Ahead

Using a 2017 sample of 100,000 homes and looking for relative advantages, the Redfin study identified Thursday as prime time for listing. Why is real estate selling so grand on such a weird day of the week? Buyers like to look at potential homes on Thursday to plan their weekend shopping.

What About Wednesday?

Listing homes on Wednesday also has advantages, with Wednesday listings raking in an additional $2,023, on average. For maximum exposure, however, many still prefer Thursday, at 5 p.m. to be precise. Why? For maximum exposure, as early Thursday listings could end up on Page 2. New Thursday listings get 5-times as many views on that first (Thurs)day than on subsequent days, with many listing portals providing buyer alerts on new potential homes.

How Big of an Advantage Are We Talkin’?

Homes listed Thursday sold 5 days faster on average, and were more likely to sell within 90-180 days. Thursday listings also allow looky-loos to schedule time for traditional Sunday open houses (for those not relying solely on video tours to make faster, competitive offers).

Timing off? Get the real estate selling tips you need with the help of PropertiesOnline today.

Forbes Says May May be the Best Time to Sell

Forbes Says Statistically May is the Best Time to List a Home

Spring has sprung, and with it, homebuyers come out of the woodwork. A study by ATTOM Data Solutions recently revealed May is statistically the best time to sell a home. How will this affect real estate trends?

At a Premium

Homes listed in May from 2011 to 2017 reaped the largest premiums above market value, at 5.9% above any other month. Though sales in earlier months reap less of a reward, however, those willing to list earlier enjoy less competition.

May sales don’t take the cake, however. The highest premiums are on a single day of the year, June 28th, where market values an average of 9.1% higher. Other top days include February 15th, May 29thand 31st, and June 21st, with premiums between 8.1-9%. Keep timing in mind, however. Homes selling during these times are typically listed prior to sale. 

Timing is Everything 

Though April, May, June, and July are peak listing times for most markets, real estate trends vary from market to market, with some cities bucking the national trend. To ensure a faster selling time and fewer lowball offers and price cutting requests from potential buyers, listing in April is a strong alternative to May. This timing also allows for a May sale and escrow closing in June. If you waited slightly longer, you might make more, but it may also take longer to sell. 

Timing Stats 

Realtor.com statistics show 29 out of the 50 top metros nationwide hold a peak listing date of April. As buyers come out of hibernation in the spring, April listing leading to May sales garner:

> 14% more views.

> 5% less competition, as most buyers wait until still is out to list.

> Sales 6-days faster.

> 6% higher sales price ($17k on average).

Don’t let peak sales times pass you by. Prepare yourself, potential sellers, and buyers to make the most of upcoming real estate trends with the help of Properties Online today.

What’s Changing in Corporate Real Estate in 2019 – The Emerging Trends

What trends will be rippling across the commercial real estate selling sector in 2019?

Commercial Occupants are Thinking ‘Smarter’

As with residential real estate, commercial real estate tenants are turning to smart, tech-enabled designs to help them control costs, boost productivity, and improve occupant experience. Outperforming older buildings, new technologically advanced buildings are meeting the societal need to be a part of the ‘internet of things.’

For example, they’re incorporating systems that support a mobile work style and responding to occupants’s needs such as lighting, temperature, and even inventory supplies via smartphone apps and sensors. Expect entire buildings to soon be built from the internet up as this trend builds and businesses start shopping for better buildings.

Also, look for the owners of older buildings to boost their chances of real estate selling success by remodeling and retrofitting older structures.

Cohabitating and Co-Working

People will continue to look at the workplace as a service, much like a hotel, increasingly embracing the co-working concept. WeWork and similar ventures are setting the standard for such co-working spaces. Today’s users have expectations on what they should offer, including features like plug-and-play desks, collaborative workspaces, community programming, and amenities.

Corporations are on-board as well, looking to co-working for flexibility not seen in traditional leases, and leaning on co-working spaces when they need to contract, expand, or test a market.

More Balanced Design

Shifting from extremely open layout plans and restricted square footage, today’s companies are acknowledging that placing everyone from the CEO to clerical workers in an open-plan space doesn’t always work, sending workers to hermit in conference rooms and closets to find focus and quiet.

Today’s offices are being adjusted to accommodate activity-based workspaces instead and paying closer attention to workplace design as it relates to employee tasks.

Commercial real estate selling confusing? Stay current with the latest trends and tech with the help of Properties Online today.

What's Ahead for 2019?

What’s Happening with Real Estate Sales in 2019 – What to Know and Expect

Will 2019 see a repeat of last year’s mammoth price gains? Given the current economic climate, here are a few real estate trends to be on the lookout for from financial guru Dave Ramsey.

Trend 1: More Slowly Rising Prices; Less Offers

In 2017-18, housing prices jumped a whopping 10%. This year is expected to slow dramatically to a minuscule 1%. This slow down is due to a combination of rising mortgage interest rates and overall economic uncertainty, which will discourage buyers ‘on the fence.’ 

In the 2019 market, buyers need to come to the table with a firm idea of how much home they can afford in today’s pricey market. Sellers need to understand that buyers are being priced out of the market, which makes finding the right listing price integral to success. Beware of lowball offers, holding out for a better offer when not rushed.

Trend 2: Rising Mortgage Interest Rates

A strong economy and rising inflation are pushing interest rates higher. Higher rates will slow down the process for sellers, who will see fewer offers and longer sales times as the hikes make buyers pause. For buyers, though, rates are still relatively low, with fixed-rate options helping lock-in monthly payment costs.

Trend 3: A Millennial Buyer Majority

Millennials do their house-shopping homework, beginning online. They opt for quality over size, efficient/smart homes, and prefer ‘18-hour city’ locales with public transportation access. Sellers with homes not catering to this mindset can expect lower offers or for millennial buyers to look elsewhere.

For millennial buyers, competition for a 3-bedroom single-family home in the burbs is fierce. To increase the odds of success, buyers should know ‘must-haves’ in advance and include a personalized ‘story’ letter with photos to stand above the competition.

Don’t let real estate trends take you by surprise. Stay on top of the latest market expectations with the help of Properties Online today.

Looking For Something Good? This Could be Your Year.

Tips for Making 2019 Your Best Real Estate Sales Year Ever

How can you make the most of the upcoming real estate selling year? Tumultuous market conditions, from a shrinking inventory and stalled new construction to rising interest rates, can make the idea of planning ahead seem like a fruitless endeavor. Rest assured, however, it is possible to navigate the complicated waters of today’s market with the right tips.

Strive to Stay Open-Minded

Rather than relying on a single forecast or opinion on the future of the market, look to a variety of sources, drawing your own conclusions on future trends. This will also help you deliver expert advice to clients concerned about potential speed bumps ahead.

Get Out There

Local and national industry functions can be a valuable source of market information, predictions, and projections for the coming year, offering reliable answers to your (and your customers’) real estate selling questions and concerns.

Stay in Contact

With mortgage and banking contacts to stay abreast of expected changes in the coming year, such as alterations to the mortgage application/approval process that could slow down closing procedures.

Ask (and Answer) Questions

Survey clients by mail/email on their plans to buy/sell. This keeps you in touch with potential customers and gives them the opportunity to address their own market concerns.

Stay on Top of Tech

If your smartphone, tablet, or computer is outdated, now is the time to upgrade. Technology is expected to play a pivotal role in real estate sales in the coming year(s).

Network

Review your list of partners for easy referral in client transactions, including home inspectors, appraisers, home warranty service providers, lenders, stagers, movers, and pest control pros. Having this list at your fingertips can greatly help speed the sales process.

The New Year brings with it new opportunities. How will you prepare? Get the latest in trustworthy real estate selling tips and tech from Properties Online today.