Paint isn’t just paint; it affects the mood and feeling of the home and room you’re painting. Deciding on the proper color is important, whether staging your home to sell or just giving it a refresher.
California home sales register nominal annual increase in September
California existing home sales ticked up in September on a year-over-year basis for the first time in seven months as a shortage of homes available for sale continues to hold back the market, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today.
Making sense of the story
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 425,680 units in September, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The statewide sales figure represents what would be the total number of homes sold during 2016 if sales maintained the September pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The September figure was up 1.3 percent from the revised 420,360 level in August and up 0.8 percent compared with home sales in September 2015 of a revised 422,360. Home sales remained above the 400,000 pace for the sixth straight month, and the year-over-year increase was the first since January.
“While higher sales both on a monthly and an annual basis is a glimmer of good news, with most of the home-buying season behind us for 2016, it’s not enough to tip the scales for an increase above 2015’s sales pace,” said C.A.R. President Pat “Ziggy” Zicarelli. “With listings continuing to decline and demand still strong, especially at the lower end of the market, affordability will remain a challenge for would-be buyers.”
The statewide median price remained above the $500,000 mark for the sixth straight month, with minimal signs of cooling down outside of a few select markets. The median price of an existing, single-family detached California home was down 2.3 percent in September to $514,320 from $526,580 in August. September’s median price increased 6.1 percent from the revised $484,670 recorded in September 2015. The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling, as well as a general change in values. The monthly price decline is primarily due to seasonal factors.
Zillow released a study on Tuesday, revealing some of their real estate findings; including: “half of all buyers are under age 36, meaning the Millennial generation is driving more of the housing market than we previously understood.”
Another finding had to do with the hiring of real estate agents. They found that “buyers aren’t replacing the expertise of real estate agents with online research—but they are doing a tremendous amount of research online before contacting an agent. Those who start their home searches online are actually more likely to use an agent than other buyers.”
The report summarizes Zillow’s findings in a 164-page report; click here to read about all of the real estate findings in detail.
Exposure is the key to selling your home fast and getting top dollar.
With good exposure your home will be viewed by more people, thereby increasing the chances of an offer on your home. If you are looking to sell your home quickly then it is definitely in your interest to contact a REALTOR®, as it is unlikely that you will be able to generate as much exposure as an experienced professional.
Why is it that a REALTOR® is able to generate so much more exposure than the average homeowner? Part of the explanation can be found in the fact that most REALTORS® have marketing plans that consist of print ads, an online presence, and a network of clients interested in real estate. A second reason is that for many REALTORS® this is a full time job and they are willing to put all their experience and time to the sale of your home. The final reason is that the REALTOR® has access to the Multiple Listing Service (MLS) and through this is able to network with every agent in your market area. As soon as you list your home with a REALTOR® this information is disseminated to all agents in the market, who are then able to match it to buyers that they are working with; maximizing your exposure and minimizing the time it takes to sell your home.
Energy-efficient real estate and housing is a top priority for consumers; buyers and builders just call it different things.
An energy-efficient home when buying or remodeling is a top priority for 50% of interviewed consumers, and thus home builders often cater to and strive to build those types of houses. But the consumer and the builder often use different terms to describe sustainable, green and environmentally friendly real estate.
Today’s consumers are a little more cautious in what they spend their money on; while they may have the means, they may not necessarily spend it. That’s because many have an increased expectation for what their money will buy — and if it’s not enough bang for the buck, often skip the purchase, including home purchases. Good to know for home sellers in the real estate market!
California home sales gain steam in February as shift toward more
affordable areas tempers home prices
Moderating home price appreciation and improving housing inventory combined to spur California’s housing market in February as existing home sales increased from both the previous month and year, according to the CALIFORNIA ASSOCIATION OF REALTORS®.
Making sense of the story
Existing, single-family home sales totaled 393,360 in February on a seasonally adjusted
annualized rate, up 2.6 percent from January and 6.4 percent above February 2015.
February’s statewide median home price was $446,460, down 4.7 percent from January and up 3.8 percent from February 2015.
Statewide sales of condos and townhomes rose 2.6 percent from January and 6.4 percent from February a year ago.
The February figure was up 2.6 percent from the revised 383,480 level in January and up 6.4
percent compared with home sales in February 2015 of a revised 369,630. February’s sales level was below the 400,000 level for the second straight month.
C.A.R. President Pat “Ziggy” Zicarelli commented, “Market activity continues to be dampened
by low housing inventory as baby boomers stay in their homes longer and new home
construction, while improving, falls below needed supplies.”
The number of active listings increased for the second consecutive month after declining for five straight months. Active listings increased 4.1 percent from January on a statewide basis.
The median number of days it took to sell a single-family home declined in February to 41.6
days, compared with 44.5 days in January and 44.1 days in February 2015.