Real Estate News - June, 2017

Lowest Home Appreciation in the U.S.

Certain markets in the West will continue to appreciate at double digit rates over the next year, while markets in the Northeast show the least promising forecast, according to Veros Real Estate Solutions’ Q2 VeroFORECAST  report, which measures predicted home appreciation on a yearly scale.

The metro that they predict will see the highest home price appreciation is—no surprise—Seattle, Washington, with an estimated 11.1 percent increase. The Denver metro is a close second, with 10.3 percent increase home appreciation. VeroFORECAST lists population growth and low unemployment—Seattle boasts an unemployment rate of 3.7 percent, compared to the national average of 4.3 percent, and Denver’s rate is as low as 2.1 percent—as major contributing factors to…

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The Psychology Behind Why People Buy, And Where

Homebuyers within the last two years are buying homes in certain areas for a variety of reasons.

The survey—which began back in May 2017 and has since asked approximately 3,350 U.S. residents in 11 different metros across the country who have either bought a home, sold a home, or plan to do so—was conducted in the hopes of uncovering new perspectives and trends amongst recent homebuyers It didn’t disappoint.

Perhaps the most interesting finding of the survey was that one-third of homebuyers last year made an offer on a home that they'd never seen in person. Last year, that figure was at 19 percent, and two years ago, 21 percent. Further, millennials were more likely than any other generation to do so—41 percent, compared to Gen-Xers at 30 percent…

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Sales Could be the Cure for Inventory Shortage

To put the U.S. housing inventory shortage into perspective, consider that existing housing inventory has declined, year over year, every month for the past two years.

In short, it’s harder and harder to find homes for sale, and when buyers do find them, competition is fierce. So what’s the answer?

The National Association of Realtors wonders if it might be the growing number of homeowners who think now is a good time to sell. More selling, in other words, could eventually lead to more listings.

That’s according to NAR’s quarterly Housing Opportunities and Market Experience (HOME) survey, which found that 71 percent of U.S. homeowners think it’s a good time to sell. That’s up from 69 percent a quarter ago and up from 61 percent a year ago. Seller…

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Do Rising Home Prices Indicate Another Crash?

For the fifth month in a row, home prices have set a national record, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index released today. Across all nine Census divisions, U.S. home prices rose 5.5 percent over the year.

The Index’s 10-city composite rose 4.9 percent for the year, while the 20-city composite increased 5.7 percent. Both numbers were down slightly from March’s numbers, which came in at annualized growth rates of 5.6 percent and 5.9 percent, respectively.

LawnStarter's review of Zillow data review shows that Florida home values have only reached 70% of all time highs when adjusted for inflation. Despite the slight slowing of growth, home prices are steadily climbing—and have been for some time. And according to…

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How to Sell Your Home Fast in 9 Easy Ways

Simple updates will help you sell your home fast!

By using these easy and inexpensive tips, you can expect an offer in no time.

Whether you’re selling Portland, ME, real estate or have a home for sale in San Angelo, TX, putting your home on the market can be stressful. Week after week of showings require your house to be presentable at all times, not to mention the hassle of vacating at a moment’s notice. If you have pets or children, that stress is multiplied. But buyers will be most interested in your home the first few weeks it’s on the market — so you need to hit the ground running and sell before your listing grows stale. “To sell a home quickly, it needs to show well, be marketed well, and priced correctly,” says Goran Forss, broker…

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What You Need to Know About Buying a House This Summer

Summertime house hunting has its own set of rules

Planning on buying a house this season? Go in prepared with advice from the pros.

Summer brings longer days, warmer weather and more people out house-hunting — particularly families hoping to get settled before the school year begins in September. But there aren’t necessarily more houses on the market—and this year that’s truer than ever. “Inventory is the lowest I’ve ever seen it,” says Denver, CO, agent Susie Best. Recent Trulia research bears this out, showing inventory falling for 8 consecutive quarters. The reasons are varied: investors bought up homes during the crash and are renting them out now; prices have risen so much that homeowners can’t afford to trade up; or some homeowners are…

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Are the Days of the Seller’s Market Numbered?

It seems the nation’s white-hot seller’s market may be starting to cool off—at least if a recent analysis by ValueInsured is accurate.

According to a recent blog post by ValueInsured’s experts, San Francisco, New York City, Miami, and other major cities are showing signs of slowing down.

“San Francisco—the poster child for a scorching housing market—is one of the first top markets showing signs of buyers’ fatigue, with home prices dropping last quarter for the first time since 2011,” ValueInsured posted. “New York City and Miami are also reporting signs of cooling.”

Still, despite these so-called signs, most homeowners haven’t taken notice—at least not yet. According to ValueInsured’s recent Modern Homebuyer Survey, most U.S. homeowners—about 74…

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How Many Home Shoppers Are Renters?

Renters are finally setting their sights on homeownership, according to an analysis released by credit reporting agency TransUnion on Thursday. In Q1 of 2017, a whopping 55 percent of all home shoppers were non-homeowners or renters.

The share of renter home shoppers represents a marked uptick over previous years. In Q1 2016, half of all shoppers were non-homeowners or renters. In the same period 2015, only 45 percent were.

According to Mike Doherty, Senior Vice President of Rental Screening Solutions at TransUnion, this trend will likely continue over the coming years—and multi-family property owners should brace for the impact.

“The rental market has seen sustained growth for the last several years, but occupancy rates have flattened from their…

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Proceed With Caution: Existing Home Sales and Economic Growth

The U.S. is embarking on its ninth year of economic expansion and Fannie Mae is predicting economic growth rebound. According to their Economic & Strategic Research Group’s June 2017 Economic and Housing Outlook, second quarter economic growth will rebound to 2.9 percent from last quarters 1.2 percent. Consumer spending growth is expected to return to its traditional role as the biggest contributor to economic growth, picking up to 3.1 percent this quarter from 0.6 percent in the first quarter. Fannie Mae said moderate growth is expected to continue into next year, however uncertainty in fiscal and monetary policy makes the forecast a little difficult.

“This month marks the eighth anniversary of the U.S. economic expansion, the third-longest of the…

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