Posts Tagged as Summer Real Estate Sales

Our Secrets: Tips You'd Love to Share with Sellers

Top Summer 2017 Real Estate Selling and Listing Trends

What’s hot in real estate trends? Sales! With no segment hotter than the ever-dwindling starter home market. Moving at a furious pace, the 2017 spring buying season has shaped up to be uber-competitive, and the breakneck pace is the fastest seen in decades according to economic research at Realtor.com.

A Record-High Number of Buyers
With a record-high number of buyers pounding the pavement, homes are flying off the shelves. Median days on the market for homes on Realtor.com have dropped to the lowest levels since the end of the recession. One-of-three homes is selling in under 30 days nationally – 5 days faster than last year and 2 days faster than last month.

Overall, May sales maintained momentum, with homes moving 8% faster than last year. With prices reaching double-digit growth, buyers are running out of options.

A Record-Low Number of (Affordable) Homes
Can everyone say ‘supply and demand’? Residential real estate prices soared to new heights in May with for-sale inventory experiencing extremely limited growth according to Realtor.com data. And it doesn’t appear there’s an end to the inventory shortage in sight.

Nationwide median home prices broke $250,000 for the first time earlier in the spring, now reaching $275,000 – a whopping 10% higher than one year ago. This lack of affordable housing will remain a critical issue for millennials and other first-time home buyers, as well as retirees looking to downsize to urban dwellings and starter-sized homes.

What About the Spring Inventory Increase?
Real estate trends point to late spring showing a total inventory increase, with 560,000 new listings hitting the market in May. However, inventory still remains substantially lower than one year ago. That which is not priced beyond the reach of the average buyer is quickly being snatched up.

Sales smokin’ but listings burning out? Get a few tips and tricks to turn up the heat with the help of your friends at Properties Online.

How to Sell Your Home When Children are Home for the Summer

Tips for Selling that Hot Property with the Seller’s Kids Out of School

Getting a house ready for showings involves educating your sellers on the ins and outs of staging a home but what happens when the seller’s children are home from school for the summer?

You want the property to appeal to the widest variety of buyers, including buyers with children and ones without children. Use our following real estate selling tips to ensure the home is portrayed in the best possible light

Declutter

Buyers prefer to see a house with the bare necessities in order to be able to picture their own belongings in it. The less clutter on countertops and in rooms the better.

Neutral, Neutral, Neutral

The sellers may think their kid’s pink and purple paint job is adorable, but chances are a potential buyer will just see more work for them. Sellers should paint any room with a neutral color before listing.

Depersonalization

Your sellers will be best advised to remove as many personal effects as possible from walls, including family photos and children’s drawings. Have sellers fill in the holes with putty and paint.

Empty House

Take the sellers and children out of the picture during open houses or showings. Buyers generally feel more comfortable when the homeowners are not there in order to voice their opinions about the home.

Daily Upkeep

It is easier to keep a house in show-worthy condition if the sellers keep it picked up. Ensure daily sweeps are made and sellers keep their children motivated to keep their rooms clean.

Having sellers with children home from school doesn’t have to be an issue. Your objective is to make sure the house appeals to a broad range of buyers by ensuring the children are part of the solution.

Are you keeping up with the latest real estate selling tips? Find out on Properties Online today.

Below Average Interest Rates Foretell Hot Summer Sales

Summer 2016 Real Estate Boom
Summer 2016 Real Estate Boom

Potential home buyers waiting out the holy grail of real estate trends: Rock-bottom interest rates in combination with equally low home prices may finally be taking a bite this summer. What’s enticing them? The possibility of the Fed raising interest rates – and the realization that mortgage rates aren’t going to get any better.

How low did they go?
Since the housing market crisis, mortgage interest rates have dropped to new depths in efforts to keep U.S. homes affordable. Freddie Mac reported a drop in rates for the first 11 weeks of the year, producing interest rates that are now at an all-time low and only expected to get significantly higher. 30-year conventional fixed-rate mortgages have reached 3.5%, with even lower rates in FHA and VA mortgages. In fact, today’s interest rates are so low, compared to the start of the year, that buyers are paying 16% less on their mortgage interest payments.

What about sales?
Real estate trends show sales remain at their strongest levels in eight years. Demand is strong, especially with mortgage rates reaching 3-year lows. This increased demand has prompted a scarcity of inventory, particularly for homes on the lower end of the market. Without additional inventory home prices may rise, affecting the budgets of prospective buyers.

Good advice for buyers
Watching interest rates over home purchase prices – and being patient for the right home to show itself – is advisable for today’s active buyers, as interest rates affect overall affordability in terms of monthly payments, as well as total long-run expenses. Without taking advantage of today’s low rates, buyers could end up spending considerably more on interest over the years than they would on a higher purchase price.

Ready for your sales to start heating up? Take advantage of the latest in real estate trends and tech from Properties Online today.