- The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time.
- Freddie Mac predicts interest rates to rise to 5.2% by the third quarter of 2019.
- CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months.
- If you are ready and willing to buy your dream home, find out if you are able to!
Steve Wadkins – Broker/Owner
We Real Estate Group
For a while now baby boomers have been blamed for a portion of the housing market’s current lack of housing inventory, but should they really be getting the blame?
Here’s what some of the experts have to say on the subject:
Aaron Terrazas, Senior Economist at Zillow, says that “Boomers are healthier and working longer than previous generations, which means they aren’t yet ready to sell their homes.”
According to a study by Realtor.com, 85% of baby boomers indicated they were not planning to sell their homes.
It is true that baby boomers are healthier and are thus working and living longer, but are they also refusing to sell their homes?
Last month, Trulia looked at the housing situation of seniors (aged 65+) today compared to that of a decade ago. Trulia’sstudy revealed that:
“Although seniors appear to be delaying downsizing until later in life, as a group, households 65 and over are still downsizing at roughly the same rate as in years past.”
Trulia also explains that,
“5.5% of households 65 and over moved, pretty evenly split between moves to single family (2.7%) and multifamily (2.4%) homes. In 2005, these percentages were virtually the same, with 5.5% of senior households moving, including 2.5% into single family and 2.5% into multifamily homes.”
So, if these percentages are the same, what is the challenge?
Recent reports tell us that the older population grew from 3 million in 1900 to 47.8 million in 2017.
In addition, the Census recently revised the numbers from their National Population Projections:
“The aging of baby boomers means that within just a couple decades, older people are projected to outnumber children for the first time in U.S. history…By 2035, there will be 78.0 million people 65 years and older compared to 76.7 million under the age of 18.”
If you are a baby boomer who is not sure whether you should downsize or move to a warmer climate (other people are doing it, why not you?), let’s get together so we can help you evaluate your options today!
We Real Estate Group
If you’re selling your home, chances are good you’re familiar with the concept of staging your home. Real estate agents recommend your home look its best to prospective buyers, and home staging is a great way to ensure you receive top dollar. For our Home Staging we use Sweetland Interior Design 702-413-2774.
But did you know you should stage the exterior of your home too? Failing to update the look of your home’s exterior can cause buyers to get a bad first impression when they initially arrive to view your home. Whether your audience are luxury home buyers or you are selling your starter home, staging the exterior of your home will have a major impact in the sale of your home.
If you want to put exterior home staging to work, here are five elements you should consider tweaking.
Clean Your Exterior Windows and Screens
Nothing says poor maintenance like dirty windows and window screens. If your windows are caked with dust or muck from the last rainstorm, open house visitors are going to wonder what other maintenance jobs you haven’t attended to. Don’t give visitors the opportunity to question whether your home has been properly maintained or not; clean those windows and screens before authorizing an open house.
Refresh Your Gardens and Walkways
Just like dirty windows are a real estate faux pas, so are unkempt flower beds. Weeds and overgrown bushes tell visitors you can’t be bothered with the small stuff. Spend a day removing weeds and trimming flowers, or hire a professional landscaper to refresh your gardens. Landscape Company we use is Nevada Lawn Enforcement 702-742-3913. It is amazing what a refreshed garden can do to your home’s curb appeal.
Update/Clean Door Fixtures and House Address Signage
Something as simple as a new doorknob or address signage can give your home a refreshed look. You needn’t spring for a new door; just update the faceplate and/or doorknob. Purchase new address numbers from the local hardware store and you’ll have tweaked the look of your home’s exterior in just a few minutes.
Clean Patio Furniture
Whether you have chairs on your front veranda or a dining set on your back deck, tired patio furniture can cost you big dollars when it comes time to negotiate with a potential homebuyer. Dilapidated patio furniture instantly gives a bad impression and can cause potential homebuyers to request replacement furniture as part of their deal. Spruce up your existing furniture with a quick power wash, or replace it if it is beyond cleaning.
Simple tweaks to the exterior of your home can have a big impact on your home’s final selling price. By spending just a few days improving the look of the outside of your home, you can increase the amount buyers are willing to offer and make your home the cleanest real estate listing on the block. Will you be trying these exterior home staging tricks when you list your home for sale?
“We Have The Key To Your New Home”
Steve & Gerri Wadkins
We Real Estate Group
“Requiring a homeowner to pay income tax on forgiven or canceled mortgage debt would make the National Mortgage Settlement much less effective,” the letter states. The Mortgage Forgiveness Debt Relief Act and Debt Cancellation
The act, which is set to expire December 31, 2012, allows taxpayers to be excluded from paying taxes on forgiven debt from a foreclosure, short sale, or loan modification… In a release, Nevada Attorney General Catherine Cortez Masto explained the act is expiring at a time when homeowners are benefiting from the national mortgage settlement, which obligates five of the largest mortgage services to provide $20 billion in credited consumer relief.
http://www.dsnews.com/articles/forty-one-ags-sign-letter-urging-congress-to-extend-debt-relief-act-2012-11-20 RT #DSNEWS #WadkinsRealEstate
A reduction in premiums for mortgages could save an average borrower $1,000 a year on a $200,000 loan. Read this article below by NAR
The start of a new year brings excellent news for homeowners and homebuyers. The US housing market is finally on its feet again.
Over the last few years, the housing market recovered quickly. Home sale prices skyrocketed as foreclosures and short sales slowed, and millions of homeowners nationwide regained equity in their homes.
Today, we can finally say that the housing market is officially back. The vital signs of a healthy market are all there. From home prices to inventory, homebuyers and sellers are looking at a market full of opportunities.
If you’ve been waiting to sell your home, now may be the perfect time! Contact me today!
Steve Wadkins, Gerri Wadkins