Whether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What is actually happening with mortgage rates? Are home values dropping or are they just rising at a slower pace? What impact will the economy have on the housing market?
If you are either a buyer or seller (or both), you need to know what it will mean to your family if you go ahead with the move. You need to understand three things:
1. What is happening in the housing market right now?
Consumers must get past those fear-mongering headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want to make an educated decision on what is probably their family’s greatest financial asset.
2. Why is it happening?
Understanding the individual pieces that impact the sale or purchase of real estate is important. Understanding how those pieces impact each other is critical. How does the amount of a down payment impact the mortgage rate a buyer will be offered? Can you still price your house a ‘little ahead’ of the market and still be sure it will sell?
3. How do the first two affect your local market?
Basically, you want an understanding of the overall housing market and a simple and effective explanation of how it will impact your personal real estate goals.
The best way to get all three is to contact a local real estate professional who understands this shifting real estate market and can expertly guide you on the journey to reach your housing goals.
#FirstTimeHomebuyers #HousingMarketUpdates #RealEstate #SimardRealtyGroup #eXpRealty
15 North Main St
Granby, CT 06107
Hello. I’m Stephen Simard, a top producing Realtor in the Granby Connecticut/Farmington Valley area. Charisma and a true passion serving clients has helped me build a reputation as a trusted, results driven realtor.
Aligning my business with one of the most innovative real estate companies, eXp Realty, allows me to offer a tech driven, memorable real estate experience. I specialize in all facets of Real Estate and can be counted on to help my buyers score the best deal and help sellers obtain top dollar for their home.
“Friendly, knowledgeable, enthusiastic and a hard-worker. He knows the area well and provides helpful recommendations on how to best sell your home. He is also well versed at negotiation when helping to purchase a house. We would definitely recommend him to anyone and will use him again in the future.” Jill, Granby CT.
Reviews like this validate my approach to do everything possible to ensure a smooth transaction and help my clients achieve the successful outcome they deserve.
Five Star Professional conducts market-specific research throughout the U.S. to identify service professionals who demonstrate professional excellence and provide quality services to their clients. The Five Star Real Estate Agent program is the largest and most widely published award program for real estate agents in North America, covering more than 40 major markets. Five Star award winners do not pay a fee to be included in the research or on the final list of award winners.
The Five Star Professional research team contacted thousands of recent homebuyers, consumers and industry leaders to identify Connecticut-area real estate agents who stand out in their industry and community.
To learn more about the research methodology, click here.
As home prices continue to appreciate, many potential buyers and sellers aren't sure what it really means for them. It's important to understand, however, that rising prices also means rising equity. Let's get together to discuss how rising prices and appreciation may impact you.
#HomeOwnership #RealEstate #HomePricing #SimardRealtyGroup #eXpRealty
For centuries, people in this country have seen homeownership as part of the American Dream. Whether they were born here or immigrated from another country, they wanted to own a piece of America. With so many prominent societal changes over the last few decades, it is fair to ask if people in America still feel the same way about owning a home. The answer was made abundantly clear in two separate reports released earlier this month.
In their market trends report, As Housing Trends Shift, So Does Renter, Buyer and Seller Sentiment, Truliarevealed that:
“After two years of no change, the share of Americans who say that homeownership is part of their personal “American Dream” ticked up from 72 percent to 73 percent of Americans.”
At the same time, the National Association of Realtors released their Aspiring Home Buyers Profile. As the report explained:
“For both homeowners and non-homeowners alike, homeownership is strongly considered a part of the American Dream. For non-owners, roughly 75 percent reported that homeownership is part of their American Dream. For owners, nine in 10 believe it is part of their American Dream.”
The belief among the vast majority of Americans, whether they rent or own, is that purchasing a home still remains a major step toward accomplishing the American Dream.
#FirstTimeHomeBuyers #ReaEstate #SimardRealtyGroup #eXpRealty
When homebuyers begin their research, they want to see all their available options! In many cases, they will include both new construction and existing homes in their search; but is a new construction home really the house of their dreams?
According to a recent survey by Zillow, of the 38% of total buyers that added new construction to their list, only 11% ultimately purchased a newly constructed home!
They added that 71% of these buyers are repeat buyers who are financially secure, with 45% using the money from the sale of their previous homes to make a purchase.
Below are some reasons why buyers are interested in purchasing a new build:
So, then why did most of the buyers surveyed choose not to purchase a new home?1) Location
Buyers could not find new construction in the desired neighborhood, and some felt that new construction is not established (e.g., landscaping, community, neighbors).
Buyers face the end of a lease or sale of their previous property and could not wait for a house to be built.
Some buyers felt that new construction base prices were deceiving. Adding upgrades and HOA fees no longer made the home fit in their price range.
For some buyers, new construction homes are too “cookie cutter,” and models are limited. Others feel that the charm and uniqueness of an existing house trumps one that’s never been lived in.
Not all buyers are looking for a newly built house! There are many buyers looking for “the charm and uniqueness” of an existing home. If you are considering selling your house, don’t wait! Contact a local real estate professional today that can help you feature the charming details of your house to future buyers.
#ForBuyers #ForSellers #NewConstruction #SimardRealtyGroup #eXpRealty
In today’s fast-paced world, where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, with the addition of more information, comes more confusion.
Shows like Property Brothers, Fixer Upper and the dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.
Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in the way of achieving them. Buying and/or selling a home is definitely not something you want to DIY (Do It Yourself)!
Here are just some of the reasons you need a real estate professional in your corner:There’s more to real estate than finding a house you like online!
There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?
You Need a Skilled Negotiator
In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.
What is the home you’re buying or selling worth in today’s market?
There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?
Dave Ramsey, the financial guru, advises:
“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”
Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.
Today’s real estate market is highly competitive. Having a professional who’s been there before to guide you through the process is a simple step that will give you a huge advantage!
#ForBuyer #ForSellers #MoveUpBuyers #SimardRealtyGroup #eXpRealty
#ForBuyers #ForSellers #Infographics #InterestRates #SimardRealtyGroup #eXpRealty
Whether you're buying or selling a home, the transaction can be a bit overwhelming. Working with a real estate professional who understands your market can make your life that much easier! Let's get together to discuss your plans to buy or sell in 2019!
A loaf of bread used to be a nickel. A movie ticket was a dime. Not anymore. Houses were also much less expensive than they are now. Inflation raised the price of all three of those items, along with the price of almost every other item we purchase.
The reason we can still afford to consume is that our wages have also risen over time. The better measure of whether an item is more expensive than it was before is what percentage of our income it takes to purchase that item today compared to earlier. Let’s look at purchasing a home.
The COST of a home is determined by three major components: price, mortgage interest rate, and wages. The big question? Are we paying a greater percentage of our income toward our monthly mortgage payment today than previous generations? Surprisingly, the answer is no.
Historically, Americans have paid just over 21% of their income toward their monthly mortgage payment.
Though home prices are higher than before, wages have risen as well. And, the most important component in the cost equation – the mortgage rate – is dramatically lower than it was in the 1970s, 1980s, 1990s, and 2000s.
Today, according to the latest Home Affordability Index just released by the National Association of Realtors, Americans are paying 17.4% of their income toward their mortgage payment. That is much lower than the 21% average previous generations have paid.
Bottom LineThe cost of purchasing a home today is a bargain compared to previous generations when we look at it from a percentage of income basis. However, with mortgage rates expected to increase and home prices continuing to appreciate, that will not always be the case. Whether you are buying your first home or looking to move-up to a more expensive home, purchasing sooner rather than later probably makes sense.
#Pricing #FirstTimeBuyers #SimardRealtyGroup #eXpRealty
Just like most other things, natural disasters can impact the housing market and the value of your home. As prices have appreciated, it's important to make sure that you have the proper coverage for your home.
Need immediate assistance? Call 860-919-0991