When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue.

Here’s what three experts are saying we’ll likely see in 2020:Danielle Hale, Chief Economist at realtor.com

“I think the biggest surprise from the forecast is how long the market is staying in this low inventory environment, especially as Millennials are in a major home-buying phase…sellers will contend with flattening price growth and slowing activity with existing home sales down 1.8%. Nationwide you can look to flat home prices with an increase of less than 1%.”

Mike Fratantoni, Chief Economist at Mortgage Banker Association (MBA)
“Interest rates will, on average, remain lower…These lower rates will in turn support both purchase and refinance origination volume in 2020.”

Skylar Olsen, Director of Economic Research at Zillow
“If current trends hold, then slower means healthier and smaller means more affordable. Yes, we expect a slower market than we’ve become accustomed to the last few years…consumers will continue to absorb available inventory and the market will remain competitive in much of the country.”

As we can see, we’re still going to have a healthy market. It is forecasted to be a more moderate (or normal) market than the last few years, but strong enough for Americans to continue to believe in homeownership and to capitalize on the opportunities that come with low interest rates.

Bottom Line
If you’re wondering what’s happening in your market, contact a local real estate professional today

SOURCE KCM
#ForBuyers #ForSellers #SimardRealtyGroup #eXpRealty

FOR SALE! 37 Salmon Brook St, Granby, CT @ $219,999!

"Come see this value priced cape set on an open 1.6 acre level lot. Inside find a generous sized eat in kitchen with center island, pantry, bay window, and ample cabinet space. Hardwood floors throughout. Newer roof, vinyl siding, & energy efficient windows. Two car oversized garage with plenty of extra storage space. "

View full property description and photos here:
http://ow.ly/k9Q050xDeGf
​
#ForSale #Granby #SellingCT #SimardRealtyGroup #eXpRealty

Rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers.

Here are the top 5 reasons not to FSBO:

1. Online Strategy for Prospective Purchasers
Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet
According to NAR, here’s where buyers found the homes they actually purchased:

• 55% on the Internet
• 28% from a Real Estate Agent
• 10% Other
• 6% from a Yard Sign
• 1% from Newspapers

The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial.

3. There Are Too Many People to Negotiate With
Here’s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:

• The buyer, who wants the best deal possible
• The buyer’s agent, who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The appraiser, if there is a question of value

4. FSBOing Has Become Increasingly Difficult
The paperwork involved in buying or selling a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

5. You Net More Money When Using an Agent
Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.

A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.

The same report revealed that,
“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers—in other words, less than a third…actually sold without an agent.”

It appears working with a real estate professional is the best answer.

Bottom Line
Before you decide to take on the challenges of selling your house on your own, reach out to a local real estate professional to discuss your needs.

SOURCE KCM
#ForSellers #FSBO #RealEstateProfessional #SimardRealtyGroup #eXpRealty

Thank you for appreciating our efforts to sell your home! It was our pleasure to have served you.



#HappyClient #HonestReview #SimardRealtyGroup #eXpRealty

Some Highlights:

• Choosing the right real estate professional is one of the most impactful decisions you can make in your home buying or selling process.
• A real estate professional can explain current market conditions and break down what they will mean to you and your family.
• If you’re considering buying or selling a home in 2020, make sure to work with someone who has the experience to answer all of your questions about pricing, contracts, and negotiations.

SOURCE KCM
#ForBuyers #ForSellers #Infographics #MoveUpBuyers #SimardRealtyGroup

For Sale! 10 Hallview Drive, Simsbury, CT @ $460k!

"The home boasts a first floor master suite with sitting room, luxurious bath, soaking tub, double sink vanity, and easy access to the hot tub set conveniently off the bathroom. Access the outdoors through multiple French doors and enjoy the back patio or front porch."

Read full property description here:
https://10hallviewdrive.thebestlisting.com/
OR
Call Stephen your Realtor at 860-919-0991 for more info.
 Stephen.Simard@exprealty.com
Simard Realty Group
eXp Realty


#ForSale #Simsbury #SellingCT #SimardRealtyGroup #eXpRealty

Looking ahead, 2020 is projected to be a strong year for homeownership. According to the Freddie Mac Forecast,

“We expect rates to remain low, falling to a yearly average of 3.8% in 2020.”

If you’re currently renting, 2020 may be a great time to think about making a jump into homeownership while mortgage rates are low.

As noted in the National Rent Report,
“the national rent index increased by 1.4 percent year-over-year.”

With average rents on the rise, this year-over-year increase may not sound like much, but it can add up – fast. The math on how much extra it will cost you over time surely doesn’t lie.

Here’s an example: On a $1,500 rental payment, an increase of 1.4% adds an additional $21 dollars per month to your payment. When multiplied by the twelve months in a year, it’s a $252 overall annual increase. The price continues to multiply when you rent year after year, as rental prices rise.
​
History shows how average rental prices have been increasing each year, and there doesn’t seem to be much end in sight. Here’s a look at how rents have grown since 2012 alone:

Why not lock down your monthly housing expense, and at the same time build additional net worth for you and your family? If you’re thinking about buying a home, consider the financial benefits of what homeownership can do for you, especially while the market conditions are strong and current mortgage rates are low.

Bottom Line
With average rents continuing to rise, now may be a great time to stabilize your monthly payment by becoming a homeowner and locking into a low mortgage rate. Reach out to a local real estate professional to learn how taking advantage of the current market conditions might work for you.


SOURCE KCM
#FirstTimeHomeBuyers #RentVSBuy #SimardRealtyGroup #eXpRealty

Dreaming of a new home in the new year? Let’s connect to make sure you’re making all the right moves and saving what you need to make homeownership your reality.

#TopGranbyRealtor 
#StephenSimard 
#ExpRealty 
#GranbyRealEstate 
#GranbyConnecticut 
#FindyourGranbyhome 
#Newhomesforsale 
#SimardRealtyGroup 
#Granbyhomesforsale
#JoinExpRealty 
#Simsburyhomes​

Bottom LineExperts forecast home price appreciation to continue at a moderate rate as we move through 2020 and beyond. With appreciation growing, now is a great time to reach out to a real estate professional and plan for your next move.

SOURCE KCM
#HousingMarketUpdate #Pricing #SimardRealtyGroup #eXpRealty

Some Highlights:

• Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020!
• According to CoreLogic, home prices will appreciate at a rate of 5.4% over the course of the year.
• Experts predict that the number of homes sold next year will be equal to or outpace 2019.

SOURCE KCM
#infographics #housingmarket #year2020 #SimardRealtyGroup #eXpRealty