Tag Archives: buyers

Homebuyers Move Quickly for Inventory

Falling inventory forces homebuyers to move at fastest pace ever

Source: Housing Wire

housing market forecastHousing inventory fell 8.9 percent from last year in the second quarter of 2017, sending homebuyers scurrying to beat the rising competition.

Housing inventory dropped for nine consecutive quarters, and is currently down a full 20 percent from inventory levels five years ago, a new report from Trulia shows.

And now, homebuyers are snatching up homes at the fastest pace since Trulia began tracking in 2012. While 57 percent of homes were still on the market after two months in 2012, today that number shrank down to 47 percent.

Competition is so fierce, in fact, that 33 percent of Americans who bought a home in the last year made an offer without even seeing the home in person, according to a survey from Redfin, an online real estate brokerage.

This is up from 19 percent of buyers who placed an offer on a home without seeing it first last year. Among millennials, even more placed offers without seeing the home in person — a full 41 percent.

Read the full story

Money Monday: Renters can buy

Even in California, buying can be more affordable than renting.

Renters That Can Buy

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Money Monday: Don’t make these homebuying mistakes

When venturing into shopping and buying a home, avoid some common mistakes:

home buyer regrets

  1. Interviewing only one lender
  2. Not getting pre-approved right away
  3. Maxing out your mortgage limit
  4. Letting your dreams and emotions dictate which house you purchase
  5. Waiving contingencies without understanding just what that means

More tips for homebuyers are available in CNN’s article here: “7 first-time homebuyer mistakes to avoid”.

What’s in a Name? Energy Efficiency in Real Estate

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.

environmentally friendly real estate

This infographic is from CAR.org.

Buying real estate for first-time and repeat homebuyers

Why should you buy real estate?

For repeat and first-time homebuyers, the different reasons to buy a home have various degrees of importance.

Here is what’s most important to first-time homebuyers:

  1. They’re tired of renting (55%)
  2. They’d like a larger home (10%)
  3. They want to be in a better location (9%)
  4. They’ve had a change within their family (7%)

And for those moving up, these are the reasons in order of importance:

  1. They’d like a larger home (23%)
  2. They desire a better location (19%)
  3. They’re tired of renting (9%)
  4. They’ve had a change in family status (4%)

Why Buy

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS, at car.org.

3 Reasons Sellers Shouldn’t Fear Disclosures

There is no reason for sellers to stress about accurately and completely filling out disclosure statements.

buyers and sellers real estate disclosuresTo disclose or not to disclose — that is the question. Actually, that isn’t the question. There should be no question in a seller’s mind whether to disclose an item or not. The short answer: If you’re aware of an issue, disclose it.

But first let’s talk about what exactly a disclosure is, and why, as a seller, it can be your best friend. Continue reading

Buyers’ Remorse

If you’re considering becoming a homeowner, take the time to fully prepare and educate yourself. Buyers’ remorse is nothing to scoff at!

Continue reading

Young Home Buyers Return in U.S. as Economy Accelerates

buy homeIt is hoped that an increase in first-time buyers, whose market share dropped to a record low last year, will provide a boost to the sluggish mortgage industry.

As the economy improves, economists expect weak demand to turn around as more renters are put in a better position to buy. It is believed that increasing confidence in the job market is the strongest indicator home sales will improve.

Read the full story from Bloomberg.com