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Inventory Drops and Home Prices Continue to Increase
In December, the total housing inventory dropped 11.1 percent. There were 1.85 million existing homes on the market, which is a 4.4 month supply at the current sales pace; in November, there was a 5.1 month supply. With the strengthening economy and sub-4 percent interest rates, the demand for homes from buyers should be increasing, but a tight supply of homes available for sale could cool that demand.
Supply shortage causes home prices to increase. And according to the National Association... Read More
6 Traits of Successful Home Sellers
The goal for any home seller is to sell a property quickly at the best price for the market. Here are six characteristics that will help home sellers succeed.
1. Realistic Expectations
Real estate agents do not pluck listing prices out of thin air. Every price range they recommend to potential home sellers is the result of meticulous research: of the property, the neighborhood and the current real estate market. Most of the factors... Read More
Character Sells: How to Add Character to Your Home Renovation Project
Adding character to your home is a wise investment. Not only will you end up with a beautiful and unique space, you’ll catch the attention of homebuyers when it comes time to sell. Here are the top six ways to add character that transforms your home into an inviting space.
1. Remove dated features.
Popcorn ceilings and faux-wood paneling make a space feel tired and dated. These elements will detract from your home’s architectural features... Read More
Lower Mortgage Insurance May Bring More New Homebuyers
The Federal Housing Administration announced in January that it would reduce its annual mortgage insurance premiums by half a percentage point―dropping it from 1.35 percent to 0.85 percent. FHA-backed loans are popular with new homebuyers, and offer downpayment options as low as 3.5 percent of the purchase price, but require mortgage insurance for the life of the loan. Lowering mortgage insurance premiums will not give free reign to irresponsible borrowers; rather, it will help responsible buyers purchase a home. Despite the reduction, FHA premiums will remain 50 percent higher than they were before the housing crisis.
Lower Premiums Will Help New Homebuyers
According to the National Association of Realtors, around 400,000 borrowers were unable to afford a mortgage due to high premiums. The FHA's recent actions will have a direct impact on home affordability for thousands of Americans. Home sales should see a slight uptick; HUD predicts that over... Read More
Bathroom Renovation on a Budget
Does your bathroom look better with the lights off and door closed? If so, it might be time for a makeover. Small changes can make a big improvement, and even if you have a small budget, there are many ways to make your bathroom shine.
"Updating a bathroom benefits the home's overall appearance and is something the homeowners can enjoy every day," says Dan Auer of Faucet.com, a Web site with a vast inventory which includes all the fixtures and accessories needed for bathroom remodels. "Simple updates can have a big impact and can be done in a small amount of time."
Easy bathroom updates include:
The faucet is a focal point in the bathroom and should be one of the main considerations when remodeling. If yours looks like it's from a bygone era, it's time to consider something new. Fashion and functionality are now available with many styles and finishes.
Consider replacing the sink to really freshen up the look. Pedestal bathroom sinks and countertop sinks are easy to replace and can make... Read More
Century 21 Blue Marlin Pelican, 42 Business Centre Dr. Suite 106, Miramar Beach FL 32550
The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice. If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.
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