For the vast majority of home sales, buyer and seller never actually connect in person or have a chance to talk and exchange insights or information before meeting at the closing table. Here are a few tips that many buyers would like to give sellers if they had a chance:
1. You should see what your home looks like online.
2. If your home is seriously overpriced, I’ll wait for the price to come down before I even come see it. .
3. There are a whole lot of fish in the sea – I only have to find one.
4. If I nitpick your house, that probably means I like it.
5. When it comes to staging, the bar is set really high.
For details on the aforementioned tips from buyers to sellers, visit Trulia.com.
Selling a home in the Triangle is taking less time than in recent years. This is good news for homeowners looking to move but can be frustrating for potential buyers.
The average area home is now on the market for 109 days, which is down 11 percent from this time last year and inventory of homes for sale is at its lowest point in over a decade. This has caused more competition for buyers and many sellers are receiving multiple offers on their home.
If you’re thinking of selling your home, now would be a great time to do it. For those of you currently looking to buy a home, be ready to act fast. Homes are going under contract quicker than ever.
According to CoreLogic, a leading residential property information, analytics and service provider, home prices nationwide including distressed properties increased 8.3 percent in 2012 compared to 2011. This is the biggest increase since March of 2006.
More more details on current home prices, check out RIS Media.
According to the National Association of Realtors’ quarterly report, the median price of homes nationwide saw its biggest increase in seven years this last quarter. Meanwhile, the number of available homes is at a 12 year low and on an annual basis, the median sales price increased 10% to $178,900.
For more on the current housing trend, check out Inman News.
1. Demand is High – Annual sales have increased over 9% in 2012 from 2011.
2. Supply is Low - The monthly supply of available homes is at a 7 year low.
3. New Construction is Coming Back – As the market is recovering, builders are building more homes.
4. Interest Rates are Projected to Inch Up - The Mortgage Bankers’ Association has projected mortgage interest rates will inch up approximately one full point in 2013.
5. Timelines Will Be Shorter - There are fewer transactions this time of year. Therefore, timetables on each component of the home buying process will be friendlier for those involved in transactions over the next 90 days.
Good things happening in the Triangle’s real estate market! Home sales were up 21 percent in 2012 compared to the previous year. When the market was at its worse in 2011, 19,733 homes were sold. In 2012 that number grew to 23,829 homes.
Please follow this link for the complete article and interview with Go Realty’s very own Zach Schabot!
New and existing home sales in the Triangle have continued to improve in September even as the inventory of homes available for sale reached its lowest level in over a decade.
The number of homes sold in September increased nearly 19 percent compared to last year’s numbers. The number of new listings in has also increased 5 percent in September. The total number of homes available for sale dropped 23 percent compared to last year. In September there was less than 7 months worth of inventory.
According to Triangle MLS, the median sales price increased nearly 2 percent to $184,900 in September while the average home price decreased 1.5 percent to $218,286 compared to the year prior. The average home is also staying on the market for 114 days compared to 130 days in the year prior.