Monday, May 20, 2019 / by Vanessa Saunders
Home inspections can be a trying time for both the home buyer and seller. For the sellers, having an inspector sniff through every corner of the property they'r trying to sell can raise anxiety levels, even if the seller is confident his property is "perfect." Inspectors have ways of ferreting-out problems sellers didn't know about, or issues with the house the homeowner got used to.
For buyers, watching the inspector take lots of notes and pictures leaves them worrying about just what kind of white elephant they got themselves into.
Finally the buyers get to see a thick report full of disclosures, disclaimers and all the fine print of 50-plus pages of descriptions, photos, subsections and educational primers of each part of the house. Inevitably, there are some problems, maybe small things, maybe some serious things that need discussing. The big question is, do the buyers ask the sellers to make repairs, reduce the price, offer to pay for some or all of the ...
Friday, May 17, 2019 / by Vanessa Saunders
Thinking of selling your home this summer? The top selling days are right around the corner. Contact a Global Property Systems local area expert
for everything you need to successfully sell your home this season.
Thursday, May 16, 2019 / by Vanessa Saunders
Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year.
However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward.
Here are three examples:
Mark Fleming, Chief Economist of First American
“Data on the movement of unadjusted house prices during the early spring home-buying season won’t be available for a few more months, but it’s quite likely that price appreciation will accelerate again.”
CoreLogic’s April “Home Price Insights”
“Home prices nationwide, including distressed sales, increased year over year by 3.7% in March 2019 compared with March 2018…The ...
Wednesday, May 15, 2019 / by Vanessa Saunders
So, you’ve been searching for that perfect house to call ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure you make a good offer so that you can guarantee that your dream of making this house yours comes true!
Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration:
1. Determine Your Price and Get Pre-Approved By a Lender
“You’ve found the perfect home and you’re ready to buy. Now what? Your Global Property Systems local area expert will be by your side, helping you determine an offer price that is fair.”
Based on your agent’s key considerations (like similar homes recently sold in the same neighborhood or the condition of the house and what you can afford), your agent will help you to determine the offer that you are going to present.
Getting pre-approved by a lender wil ...
Tuesday, May 14, 2019 / by Vanessa Saunders
Home prices have been on the rise for the last seven years, leading many housing market analysts to conclude that first-time homebuyers are being shut out of the market due to affordability concerns.
The National Association of Realtors (NAR) reports on the percentage of First-Time Home Buyers (FTHB) on a monthly and yearly basis. Their latest report shows that FTHB’s made up 33% of buyers in March, which matches their reported share in 2018.
NAR uses survey data from their members to come up with this statistic, so their results do not include every transaction completed. Rather, they only the transactions reported by members who complete the survey.
The other entity that reports on FTHB share is the American Enterprise Institute (AEI). The AEI uses data from mortgage applications that define an FTHB as “any borrower who did not have a mortgage for the preceding three years.”
This means the AEI measurement also includes former homeowners who transitione ...