Friday, February 10, 2017 / by Ruben Vera, Broker Associate
According to RISMedia, "It’s a good time to be a seller." I totally agree!! Here's an overview of their blog titled It's A Good Time To Be A Seller: Sales See Highest Profits Since 2007:
Home sellers averaged a Twenty-One percent (21%) gain, or $38,206, according to ATTOM Data Solutions’ Year-End 2016 U.S. Home Sales Report. Sellers in the Bay Area (San Francisco & San Jose) saw the highest gain at Sixty-Nine (69%), while the Los Angeles market enjoyed a Fifty-Two (52%) gain. Forty-four percent (44%) of all housing markets reached all-time price peaks in 2016. The share of distressed properties (bank owned, foreclosed, short sales, etc.) dropped from 18.8 % to 16.2%; that's a nine-year low, and that's a great thing.
With "For Sale" property inventories as low as they currently are, it certainly appears the 2017 Real Estate market will be a strong Seller's market. Buckle up, it's gonna be an interesting ride. If you, or ...
Wednesday, February 08, 2017 / by Ruben Vera, Broker Associate
KCM just posted that the most recent Pending Homes Sales Index from the National Association of Realtors revealed a slight bump in contracts with an increase of 1.6% in December. This news comes as existing home sales are also forecast to be on pace for 5.54 million in 2017, a 1.7% increase over 2016, which was the best year for sales in a decade. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed. According to NAR’s Chief Economist, Lawrence Yun,
“Pending sales bounded last month as enough buyers fended off rising mortgage rates and alarmingly low inventory levels to sign a contract.”
So, what’s the problem?
Buyers are searching for existing homes, but supply is not keeping up with their demand! Yun went on to explain,
“The main storyline in the early months of 2017 will be if sup ...
Tuesday, January 24, 2017 / by Ruben Vera, Broker Associate
YOU HAVE A DILEMMA! You've either put your house up for sale as a For Sale By Owner (FSBO) or listed it with a brokerage, but it isn't selling... in fact, you're not even getting any showings. You put it on the market at a very competitive $350,000 in October, and now its January and still nothing! You had a couple open houses, lowered the price by $7,000, but still no offers. So what's happening?? You don't want to lower the price further, but the listing is stagnant. Why aren't you getting any traffic? More importantly, why are there no offers? Let me offer 5 reasons why your house may not be selling, and some potential solutions to fix the problem.
1. NEEDING REPAIRS -
Today's buyers, some whom the real estate industry has dubbed "HGTV Buyers," want homes like the see on the cable shows. They "must have" updated bathrooms and upgraded kitchens, stainless steel packages, high tech laundry appliances, and of course they ...
Thursday, January 19, 2017 / by Ruben Vera, Broker Associate
What NOT to Do When Placing Your Home on the Market
Thursday, June 02, 2016 / by Cynthia Garrett
A Dream House for Your Family 4001 Dock Landing Rd.
Have you ever wished you could have a home that had enough room for you and your family? A home with plenty of bathrooms, closets, and storage space? A home that is ideal for entertainment for both casual and formal occasions?
Well, I know of the house just for you. 4001 Dock Landing Rd., This home is a custom built elegant brick home in the much desired Western Branch community. This Chesapeake location is just blocks from the interstate whether you are traveling to Hampton, Norfolk, or the bordering cities of Suffolk and Portsmouth, you can get to your destination in under 30 minutes. This home allows you to live away from the crowds of the city, but be close enough to get anywhere quickly.
Western Branch is served by the much desired Chesapeake Public School system, more specifically Edwin W. Chittum Elementary school, with a Great Schools rating of 8 located right on Dock Landin ...