#Infographics #BuyingAHome #SimardRealtyGroup #eXpRealty
There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.
The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.
For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases. The full results can be seen in the chart below.
According to the Home Price Expectation Survey, a family who purchased a median priced home this January can expect to gain more than $42,000 over the next five years simply from price appreciation alone.
Your home is one of the only investments you can live inside as you pay it off over time. If you are ready to use your housing costs to build wealth, contact a local real estate professional who can help you determine how to make your dream a reality.
#HousingMarketUpdate #HousingCost #SimardRealtyGroup #eXpRealty
If you're looking to buy or sell a home this year, now is a great time! Let's get together today to go over what is happening in the Spring Market and what it means for you.
The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, peaking the interest of buyers and sellers previously on the fence about making a move.
New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.
Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!
Below is a graph indicating the average score for each month of the year.
It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) is referred to as the Spring Buyers Season, when competition is fierce to find a dream home, often leading to bidding wars.
However, there is one caveat worth mentioning. When broken down by metro, realtor.com noticed that while warmer climates share an overall trend, they have different top sales months. The best month to get the most exposure in Miami, FL, for instance, is August, while in Phoenix, AZ, June leads the charge.
If you’re thinking of selling your home this year, the time to list is NOW! According to the National Association of Realtors, 41% of homes sold last month were on the market for less than 30 days! If you list now, you’ll have a really good chance to sell in April or May, setting yourself up for the most exposure!
Contact a local real estate professional who can show you the market conditions in your area to get the most exposure to the buyers ready and willing to make a move!
#FirstTimeHomeBuyers #ListingYourHome #Sellers #SimardRealtyGroup #joineXpRealty
“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” – John Stuart Mill (1840s)
Even back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets.
Just last week, the National Association of Home Builders released a survey revealing:
“Negative media reports making buyers cautious was a significant problem for 48% of builders in 2018, but 62% expect it to be a problem in 2019.”
Even today, good news is headlined with a negative spin in order to get attention. Here are two recent examples from mainstream media:
Actual Headline #1: Cash-out refis are back – will homes become ATMs again?
The real story: The headline is accurate – to a point. It is true that the percentage of refinances in which the homeowner received cash at the closing has increased to levels that existed in 2006. However, the actual amount of equity homeowners “cashed-out” compared to a decade ago isn’t close.
The dollar amount cashed-out last year was $63 billion. That seems like a really large number until we compare it to 2006, when homeowners cashed-out $321 billion. That is more than five times the current amount.
In 2006, people did use their homes as ATMs. They purchased new cars, boats, and lavish vacations. Today, the cashed-out equity is being used to consolidate debt, as seed capital for a new business, or to help a child with their college tuition.
Actual Headline #2: Consumer Debt hits $4 Trillion. Americans are diving deeper and deeper into debt.
The real story: The first sentence of the headline is accurate. The second sentence couldn’t be further from the truth. Total consumer debt is the highest it has ever been. That’s because the population continues to grow, and so does the economy (prices and wages).
The important number is how that total debt ranks as a percentage of disposable personal income. That percentage is the lowest ever recorded!! People are not “diving deeper and deeper into debt”. The exact opposite is true. They have less debt now than ever before.
If you are thinking about buying or selling a home, it is important that you have a true professional handling your real estate needs. Someone who knows the truth about the current economy and its potential impact on the housing market.
#BuyingMyths #Buyers #ForSellers #SimardRealtyGroup #eXpRealty
Check out this amazing Open House on Sunday, March 31, from 1PM-2PM in 51 Filley St, Bloomfield CT.
"A practical design with all the space you need. Tremendous potential to complete the lower level, just needs flooring.The home also boast soaring ceilings on each floor. Public water and sewer. 3 car garage. Just needs your finishing touches to complete this fantastic home."
View more info here: https://51filleyst.thebestlisting.com/
#OpenHouseSunday #Bloomfield #SimardRealtyGroup #eXpRealty
Stephen Simard wins the 2019 Five Star Real Estate Agent Award!
Five Star Real Estate Agents represent those who are outstanding in their field. Winning agents are selected as a result of a rigorous and objective research process. For any market, each year’s field of winners represents no more than 7% of agents within the market.
For more information please go to www.fivestarprofessional.com
The latest reports indicate that homeownership is still cheaper than renting in the United States. Let's get together to find you your dream home - it may be cheaper than you think!
? Contact Stephen your Realtor at 860-919-0991
ℹ️Simard Realty Group
#GranbyHomes #Homesforsale #Realestate #Simsburyhomes #Homevalues
#RealEstateAdvise #RealtorGranby #RealEstateSimsbury #StephenSimard #eXpRealty
#ForBuyers Infographics #MoveUpBuyers #SimardRealtyGroup #eXpRealty
The American Dream of homeownership is alive and well. Before you sign another lease, let’s get together to help you better understand all your options.
? Contact Stephen your Realtor at 860-919-0991
ℹ️Simard Realty Group
Need immediate assistance? Call 860-919-0991