Is Housing Inventory getting better?

inventoryHousing inventory crunch seems to be easing up
Source: The LA Times

A new report from indicates that the number of listings rose 1.4 percent from June, which is the fifth consecutive monthly rise. In comparison with last year, the number of homes listed for sale has started to increase in some markets.  Read the full story

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Are Schools that important to Buyers in choosing a Home?

school for announced the results of its Back to School survey, which looks at the impact school boundaries have on buyers looking to purchase a home within two years.® found that three out of five home buyers surveyed said school boundaries will impact their home purchasing decision.

A majority of home buyers who said school boundaries will have an impact are willing to pay 1 percent to 10 percent above budget to live within school boundaries.  Of those surveyed, 91 percent said school boundaries are “important” or “somewhat important,” while only 7.43 percent said school boundaries are “unimportant” or “very unimportant.”

Home buyers who said school boundaries will have an impact on their decision also indicated that they would give up several amenities to live within school boundaries of choice:

  • 62 percent would do without a pool or spa
  • 51 percent would give up accessibility to shopping
  • 44 percent would pass on a bonus room
  • 42 percent would offer up nearby parks and trails

More info

Click HERE to watch a video on “What you DON’T want to do before you Buy that Home.”

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Do’s and Don’ts of Homebuyer Incentives

expensive giftsDos and Don’ts of Homebuyer Incentives

Original post By: G. M. Filisko

Homebuyer incentives can be smart marketing or a waste of money. Find out when and how to use them.

When you’re selling your home, the idea of adding a sweetener to the transaction—whether it’s a decorating allowance, a home warranty, or a big-screen TV—can be a smart use of marketing funds. To ensure it’s not a big waste, follow these dos and don’ts:

Do use homebuyer incentives to set your home apart from close competition. If all the sale properties in your neighborhood have the same patio, furnishing yours with a luxury patio set and stainless steel BBQ that stay with the buyers will make your home stand out.

Do compensate for flaws with a homebuyer incentive. If your kitchen sports outdated floral wallpaper, a $3,000 decorating allowance may help buyers cope. If your furnace is aging, a home warranty may remove the buyers’ concern that they’ll have to pay thousands of dollars to replace it right after the closing.

Don’t assume homebuyer incentives are legal. Your state may ban homebuyer incentives, or its laws may be maddeningly confusing about when the practice is legal and not. Check with your real estate agent and attorney before you offer a homebuyer incentive.

Don’t think buyers won’t see the motivation behind a homebuyer incentive.Offering a homebuyer incentive may make you seem desperate. That may lead suspicious buyers to wonder what hidden flaws exist in your home that would force you to throw a freebie at them to get it sold. It could also lead buyers to factor in your apparent anxiety and make a lowball offer.

Don’t use a homebuyer incentive to mask a too-high price. A buyer may think your expensive homebuyer incentive—like a high-end TV or a luxury car—is a gimmick to avoid lowering your sale price. Many top real estate agents will tell you to list your home at a more competitive price instead of offering a homebuyer incentive. A property that’s priced a hair below its true value will attract not only buyers but also buyers’ agents, who’ll  be giddy to show their clients a home that’s a good value and will sell quickly.

If you’re convinced a homebuyer incentive will do the trick, choose one that adds value or neutralizes a flaw in your home. Addressing buyers’ concerns about your home will always be more effective than offering buyers an expensive toy.

More from HouseLogic

Setting the right home price

Using an appraisal to set your home price

Choosing the right offer on your home

What are the TOP reasons Americans are Moving in new Homes?

americansonthemoveAccording the the California Association of Realtors®, what are the reasons more Americans are moving into a new home?

The top three reasons are:

  1. 50% want a newer or better home
  2. 30 % want a better neighborhood
  3. 21% want a better commute.

In which part of the country are the greatest number of migrating homeowners?  Click on the the Image to find out.

Click HERE to watch a video on “What you DON’T want to do before you Buy that Home.”

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Does Renting still make sense? Take our Poll.

rent or buyHousing costs among working renter households rose for the third consecutive year due primarily to falling incomes and rising rental housing costs, according to the 2013 Center for Housing Policy’s Housing Landscape report. Nationally, working renters saw their housing costs rise by 6% from 2008 to 2011, while their household incomes fell more than 3%. More than one in four working renter households (26.4%) spent more than half of their income on housing costs in 2011 — an increase of more than three percentage points since 2008. (Center For Housing Policy)

So the question is, as a renter does it make more sense to start planning how you are going to buy a home versus wasting dollars on something with no future value?  What do you think?

Are Younger Buyers more “Real Estate Hip?”

young buyersGenerational Trends: Younger Buyers More Optimistic

While eight out of ten recent home buyers say their recent purchase was a positive financial investment, the number is even higher for younger buyers under the age of 32, as 85 percent felt confident about their recent home purchase. Such generational trends were explored in an inaugural study from the NATIONAL ASSOCIATION OF REALTORS®. Younger buyers cited honesty and trustworthiness as the most important traits they were looking for in a REALTOR®.

Read the full story

Get Hip and search online  HERE  for your next home.

Need to know how to Handle a Short Sale of your home?

short saleSuccessfully Navigating Short Sales and Foreclosures Takes Assistance from Qualified Real Estate Professionals
Source: Forbes

Financial hardship has led many homeowners to go through the harrowing process of selling their property through a short sale or losing their home entirely to foreclosure. A homeowner is often forced into this difficult position if negotiations with the lender do not result in a loan modification or a lower monthly mortgage payment through refinancing. Navigating the process behind a short sale or a foreclosure can be less stressful with the assistance of a qualified real estate professional who has the knowledge to guide buyers and sellers successfully through the steps.

Making sense of the story:
 Real estate professionals who possess Short Sales and Foreclosure Resource (SFR®) certification have received specialized training in short sales and foreclosures and will have the skills to work on these transactions. The certificate is offered by the NATIONAL ASSOCIATION OF REALTORS®.
 A short sale avoids the lengthy and costly foreclosure process by selling the property for less than the amount due on the mortgage. Real estate professionals are a key asset in this process because they can help develop a short-sale package and get homeowners qualified for short sales. They will also assist in setting a price that will bring offers and that has a good chance of being approved by the bank.
 From the buyer’s perspective, a professional can help to determine a fair offer and negotiate with the bank. A short sale is a complicated and time-consuming transaction, but it often allows a buyer to purchase a house at a reduced price.
 In a foreclosure process, homeowners must protect themselves by ensuring the title is legally transferred to another entity. Otherwise, the previous owners may have moved out while still holding the property’s title, which means they would be liable for the costs and responsibilities of homeownership.
 Purchasing a foreclosure can lead to getting a home at a discount, but in many cases a buyer is not able to inspect the property before making a bid. There is often no guarantee of condition, which could detract from any savings in the home’s lower selling price.
Read the full story       If you feel you may be heading into a short sale scenario, Click Here to contact us today for help!