In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5% (or more) over the next twelve months. One major challenge in such a market is the bank appraisal. When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar Continue Reading
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Buyer Demand Continues Outpacing the Supply of Homes for Sale
The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS(NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Continue Reading
Homeownership Still a Great Investment
Four recent news articles confirmed that most Americans still see real estate as a great long term investment. The Gallup organization polled the American people and discovered that they believe that real estate is a better long term investment than stocks/mutual funds, gold, savings or bonds: A second survey was done by Edelman Berland which showed that: At the same time, Tim Rood, Continue Reading
No Matter What the Groundhog Says… You Should Sell Before Spring!
No Matter What the Groundhog Says… You Should Sell Before Spring! Is spring closer than we think? Depending on which Groundhog you witnessed today, you may have less time than you think to get your home on the market before the busy spring season. Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally Continue Reading
Why Have Interest Rates Dropped?
Why Have Interest Rates Dropped? The headlines agree mortgage interest rates have dropped substantially below initial projections. Many who are considering purchasing a home, or moving up to their dream home, might think that they should wait to buy, because rates may continue to fall. A recent article on the Economists’ Outlook blog by the National Continue Reading
4 Things You May Want to Know about Chicagoland Housing Market
Lasted market Analysis from Illinois Association of Realtors revealed Chicagoland’s housing market through March 2014. Chicago Agent Magazine summarized into four main takeaways from the report: 1. Home sales are still falling – Though the weather may be improving now, Chicagoland’s home sales numbers in March, which stem from contracts signed in January and February, still showed a decline of Continue Reading