Knowing New Construction Gives You A Competitive Edge — Here’s Why
The inventory shortage isn’t going to last forever. In the meantime, studying the economy, real estate market statistics and particularly the new home construction process will make you a fierce competitor in today’s market and the future. We all know that there is a shortage of inventory. It has been a national topic of conversation, […]
What Will One Year Cost You?
What will one year cost you? All things being equal, if you were to purchase a home where the loan amount was $350,000 at the current average interest rate of 3%, your base mortgage payment without taxes and insurance would be $1,476 a month. BUT… Wait just one year and that same home loan amount […]
Are Existing Homes Really More Pricey Than New?
The median existing-home price for a single-family home in March jumped to a record high of $334,500, according to data from the National Association of REALTORS®. Meanwhile, the median sales price of a newly built home was $330,800, according to U.S. Census Bureau data. New homes are traditionally more expensive than used homes. The scenario […]
Sellers: What To Do When You’re Under Contract But Haven’t Found Your New Home Yet
So you’ve decided to list your home knowing the leverage you now have as a seller is the most robust it has ever been (and may ever be) in your lifetime. If you’ve spent a little bit of time and money making your house move in ready, you’re practically guaranteed to sell it within days […]
Bubble Trouble: The Impending ‘Bubble Burst’ Is Mythical At Best
For those who believe an impending doom is on the horizon, here is some bad news: It’s not going to happen. In this second of two opposing opinion pieces on the housing crash, Matthew Gardner shares why we won’t see any mythical bubble bursting. This is part five of Inman’s Bubble Trouble series on the […]
6 Tips for Buying A Home in a Seller’s Market
Buying a home can already be a challenging experience, but in a seller’s market, it can at times feel hopeless. In addition to the higher prices and the need to make quicker decisions, you’re likely to face some serious competition from other home buyers. Here are some tips to help you navigate through this home […]
Rising Lumber Costs Add $36K To New Home Sales Prices
The battle between supply and demand has hit the lumber industry hard, as mills struggle to keep up with demand and homebuilders push the costs to buyers. Low mortgage rates, booming buyer demand and stifled inventory aren’t the only culprits behind soaring home prices, according to two reports by The Wall Street Journal and CNBC […]
Inventory Insanity: The Secret Economic Forces Fueling The Housing Shortage
Many consumers may not realize it, but they’re increasingly competing against institutional investors and contending with soaring building costs Agents are exhausted and consumers are stretched thin. But despite everyone being fed up, the ongoing housing supply shortage drags on with no end in sight. As Inman has previously reported, the problem is multifaceted. The […]
Common Mistakes to Avoid When Pricing Your Home
Pricing a home is not a simple process, and sellers are not immune to making mistakes that will waste both time and money. Have a stress-free home sale by avoiding these four pricing mistakes that sellers commonly make when pricing their home. Mistake #1: Foregoing Research Local market information is freely available online, so be […]
Soaring Lumber Costs Cause Spike in Home Prices
In the 42 years Ricky Grubbs has been in the truss business, he’s never seen lumber costs so high. This time last year, Grubbs said he was paying $8,000 for a truckload of two-by-four, number one-grade lumber. That same truckload today costs him about $30,000. “People need to start paying attention to what’s going on,” […]
Commercial Real Estate 2021: It’s All About the Recovery
The US economic outlook is improving as the number of coronavirus cases continues to decline and with the recently passed $1.9 trillion stimulus bill dubbed the American Rescue Plan. As vaccinations continue to be distributed around the country, economic growth is now projected to reach 7%, which would be the fastest rate in nearly forty […]
Top 3 Reasons to NOT List Your Home Right Nowf
Are you considering taking advantage of this unprecedented, ridiculously hot seller’s market by listing your home? Wait!! The time might not be right for you. Don’t do anything until you have read this. Top 3 Reasons to NOT List Your Home: You feel such an unfair advantage in this unprecedented seller’s market that it is […]