Aug. 18, 2017

Rockville King Farm MD | To Stage…or Not to Stage? That Is the Question! [INFOGRAPHIC]

Rockville King Farm MD | To Stage…or Not to Stage? That Is the Question! [INFOGRAPHIC]

 

Rockville King Farm MD Local Market Tidbits:

It really does not matter what part of Montgomery County you want to buy your house. It could be Rockville, Gaithersburg or North Potomac. 

You always need to know what type of market we are presently in before you commit to buy your home.

Your success will depend upon your Real Estate Agent's knowledge in the local real estate market.

There are three basic types of markets we are currently in at any given moment . . .

 

* Seller's Market

* Buyer's Market 

* Neutral (Balanced) Market

 

Determining the type of market with clarity will ensure you the best possible outcome when buying your home..

More importantly, the King Farm in Rockville has its unique characteristics. The convenience for transportation and being so close to Shady Grove Metro Station, makes King Farm one of the most desirable neighborhoods in Montgomery County.

 

Today I would like to talk to you about  To Stage…or Not to Stage? That Is the Question!

 

Some Highlights:

- The National Association of Realtors surveyed their members & released the findings of their Annual Profile of Home Staging.

- 50% of staged homes saw a 1-10% increase in dollar value offers from buyers.

- 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.

- The top rooms to stage to attract more buyers are the living room, master bedroom, kitchen, and dining room.

 

Source.. KCM Fernando Herboso Blog

 

If you work with us, we promise to be in constant communication with you as our client. 

We will keep you fully informed throughout the entire buying or selling process. 

Our philosophy is that if you do not have an amazing experience working with us..we haven't done our job.

Our measuring stick for success is not the number of transactions we make, but the level of satisfaction coming from all our clients...after we serviced them.

Search for the newest listings in Rockville by map (click picture below) 

 

 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Thinking of selling your home in King Farm? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in King Farm, ROCKVILLE
Aug. 17, 2017

Frederick MD | 58% of Homeowners See a Drop in Home Values Coming

Frederick MD | 58% of Homeowners See a Drop in Home Values Coming

 

Frederick MD Local Market Tidbits:

In order for us to provide comprehensive real-time market data and in-depth analysis for the benefit of all our clients, we use this blog to bring you our expertise and provide you with world class service

From an advisory point of view, our local knowledge will benefit you financially when buying a home through us.

From a valuation point of view,  our marketing expertise will augment the results you are looking for when selling a home.

From an activity point of view, these neighborhood in Frederick are the most active: 

 

* Fort Detrick

* Wormans Mill

* Ballenger Creek Center

* Clover Ridge (Hill) 

* Monocacy (Park, Crossing, Mile) 

* Taskers Chance

* Hillcrest orchards

* Monarch Ridge

* Holly Ridge

* Manors At Ballenger

* Spring Ridge

* Brunswick & Brunswick Crossing

 

Today I want to talk to you about  58% of Homeowners See a Drop in Home Values Coming

 

According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

 

The two major causes of the housing crash were:

1.- A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.

2.- Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

 

Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.

The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.

If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.

Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.

 

Bottom Line

If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.

 

Source.. KCM Fernando Herboso Blog

 

We fully understand that buying or selling a home is more than just a business  transaction between two people. 

We know how it affects your family and we know the experience could affect the quality of your life.

That’s why our team of highly-seasoned real estate professionals are dedicated to providing you with exceptional services at a local level.

Our pride is our personal touch that we use to connect with our clients, 

where our goal is to build a long-term relationship based on trust and service.

Let us help you achieve all your real estate goals. 

Give us a call now.

Search for the newest listings in Frederick by map (click picture below) 

 

 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Aug. 16, 2017

Clarksburg Village MD | Sellers: Your Home is an Oasis in an Inventory Desert

Clarksburg Village MD | Sellers: Your Home is an Oasis in an Inventory Desert

 

Clarksburg Village MD Local Market Tidbits:

What can you say about our local Real Estate Market for this year? 

I like to analyze it with a depth study and perspective to bring you the facts and insights that should matter to you.

If you are a buyer, you should proceed with caution in choosing existing homes vs new construction.

If you are a seller, you have major competition with new construction in the area and it is very important that your marketing should primarily highlight the benefits from your home's perspective.

Clarksburg Village remains the most sought after neighborhood in Clarksburg MD and there are several reason why..

 

Today I want to talk to you about  Sellers: Your Home is an Oasis in an Inventory Desert

 

First-time homebuyers are flocking to the real estate market by the thousands to find their dream homes in order to make their dreams of homeownership a reality. Unfortunately for many, the inventory of starter and trade-up homes in the US has struggled to keep up with demand!

According to the National Association of Realtors (NAR), the inventory of homes for sale dropped 7.1% year-over-year to a 4.3-month supply and is down for the 25th consecutive month.

Some homeowners may be hesitant to list their homes for sale because they are worried that they will also have a problem finding a home to buy and move in to. This is a legitimate concern; no one wants to sell their home quickly and not have anywhere to live.

But there is good news! If you are thinking of moving up to a luxury or premium home, there is more inventory available in these markets and you may even get a great deal on a home that has been on the market for a while.

If you are the owner of a starter home and you are looking to move into a trade-up home, or if you are just looking to relocate to a new area in a home of the same size, there is still hope!

In many markets, homeowners are building contingency plans into their contracts. This means that the homeowner builds in extra time before they close in order to find their dream home and they are upfront about the contingency with any buyers who come to see the house.

Your home is an oasis to buyers who are searching for homes in today’s market. The right buyers will sympathize and wait for you and your family to find your next home.

 

Bottom Line

Don’t let the fear of not finding a home to move in to stop you from moving on with your life. Let’s get together to discuss ways to set expectations with potential buyers from the start.

 

Source.. KCM Fernando Herboso Blog

 

The Clarksburg Village Maryland real estate market is uniquely hyper-local, meaning that you can't  throw the latest sales numbers within local/national levels and expect meaningful results about its condition.

Buyers should be very observant about the trends and direction of the market before putting an offer for a house.

Our agents are ready to help all your real estate needs 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Clarksburg by map (click picture below) 

 

 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information.

Posted in Clarksburg
Aug. 15, 2017

Gaithersburg - Lakelands MD | Homes Are Selling Quickly Nationwide

Gaithersburg - Lakelands MD | Homes Are Selling Quickly Nationwide

 

Gaithersburg Lakelands  MD Local Market Tidbits:

Today I decided to bring you some news about the things that matters the most to our local real estate market

As you are aware, the real estate market is like the weather. The economic conditions within the area are the most influential on home prices and its stability

Sometimes even within neighboring counties, our local real estate market could be completely different.

For that reason we are focusing in Lakelands Gaithersburg. In a way this beautiful neighborhood area in Gaithersburg suffers an identity crisis because of its most popular neighbor “The Kentlands” 

Yes, you may see disparities between these two neighborhoods but, most homeowners living on Lakelands are just happier that they don't get the negatives of being the most popular neighborhood in the area. Traffic can be a problem for the most part..while the Lakelands remain relatively quiet and serene..yet they still enjoy the same amenities.

Today, I would like to speak to you about  Homes Are Selling Quickly Nationwide

 

The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 28 days in June. This is a slight increase from the 27 days reported in May, but down from 34 days reported a year ago.

54% of homes across the country were on the market for less than a month in June!

Among the 27 states with homes selling in 30 days or less are Washington, Utah, California, and Colorado. The map below was created using results from NAR’s Monthly Realtors Confidence Index Survey.

 

Bottom Line

Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s meet up so I can help you take advantage of current market conditions!

 

Source.. KCM Fernando Herboso Blog

 

We are interested in creating repeat business with all our clients. 

We understand that we can only do that by bringing you the latest news and information that could affect your financial world when it comes to real estate. 

We take pride in assuming that role for you 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Gaithersburg by map (click picture below) 

 

 

Thinking of selling your home on the Lakelands or anywhere in Gaithersburg? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in GAITHERSBURG
Aug. 14, 2017

Germantown - Milestone MD | Homeowner’s Net Worth Is Still Greater Than a Renter’s

Germantown - Milestone MD |  Homeowner’s Net Worth Is Still Greater Than a Renter’s

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. 

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.  

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 

 

Today I would like to talk to you about  Homeowner’s Net Worth Is Still Greater Than a Renter’s

 

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)! 

 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home.” 

 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today!

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions, 

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 

and the most updated strategic view for your home purchase in Germantown Maryland

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Germantown by map (click picture below) 

 

 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in GERMANTOWN
Aug. 11, 2017

Rockville King Farm MD | What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

Rockville King Farm MD | What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

 

Rockville King Farm MD Local Market Tidbits:

It really does not matter what part of Montgomery County you want to buy your house. It could be Rockville, Gaithersburg or North Potomac. 

You always need to know what type of market we are presently in before you commit to buy your home.

Your success will depend upon your Real Estate Agent's knowledge in the local real estate market.

There are three basic types of markets we are currently in at any given moment . . .

 

* Seller's Market

* Buyer's Market 

* Neutral (Balanced) Market

 

Determining the type of market with clarity will ensure you the best possible outcome when buying your home..

More importantly, the King Farm in Rockville has its unique characteristics. The convenience for transportation and being so close to Shady Grove Metro Station, makes King Farm one of the most desirable neighborhoods in Montgomery County.

 

Today I would like to talk to you about  What State Gives You the Most ‘Bang for Your Buck’?

 

Some Highlights:

 

- Thinking of moving across the country? How far will your money take you?

- The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.

- The ‘Biggest Bang for your Buck’ comes in Mississippi where, compared to the national average, you can actually purchase $116.01 worth of   goods for $100.

- For more information regarding the methodology used to create the map, visit the Tax Foundation.

 

Source.. KCM Fernando Herboso Blog

 

If you work with us, we promise to be in constant communication with you as our client. 

We will keep you fully informed throughout the entire buying or selling process

Our philosophy is that if you do not have an amazing experience working with us..we haven't done our job.

Our measuring stick for success is not the number of transactions we make, but the level of satisfaction coming from all our clients...after we serviced them.

Search for the newest listings in Rockville by map (click picture below) 

 

 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Thinking of selling your home in King Farm? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in King Farm, ROCKVILLE
Aug. 10, 2017

Frederick MD | Hey, Millennial Homeowners!! It May Be Time to Sell

Frederick MD | Hey, Millennial Homeowners!! It May Be Time to Sell

 

Frederick MD Local Market Tidbits:

In order for us to provide comprehensive real-time market data and in-depth analysis for the benefit of all our clients, we use this blog to bring you our expertise and provide you with world class service

From an advisory point of view, our local knowledge will benefit you financially when buying a home through us.

From a valuation point of view,  our marketing expertise will augment the results you are looking for when selling a home.

From an activity point of view, these neighborhood in Frederick are the most active: 

 

* Fort Detrick

* Wormans Mill

* Ballenger Creek Center

* Clover Ridge (Hill) 

* Monocacy (Park, Crossing, Mile) 

* Taskers Chance

* Hillcrest orchards

* Monarch Ridge

* Holly Ridge

* Manors At Ballenger

* Spring Ridge

* Brunswick & Brunswick Crossing

 

Today I want to talk to you about  Hey, Millennial Homeowners!! It May Be Time to Sell

 

Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise.

Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:

 

1. Equity Build-Up

Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions, in their Q2 2017 U.S. Home Sales Report revealed that:

“…homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.”

 

2. Projected Home Price Increases

If you just got married or just found out you are about to become a parent, you may have plans to move up a bigger home or perhaps move to a different area. Waiting to buy a more expensive home in this market probably doesn’t make sense. The experts contacted for the Home Price Expectation Survey are projecting home prices to increase by nearly 5% over the next year. Yes, your house’s price will increase but not as much as a home currently valued higher than yours.

 

3. Projected Interest Rate Increases

The Mortgage Bankers’ Association, Freddie Mac, Fannie Mae and the National Association of Realtors are each projecting mortgage rates to increase over the next year.

Higher PRICES + Higher INTEREST RATES = LARGER MORTGAGE PAYMENTS.

 

Bottom Line

If you are lucky enough to be one of those Millennials who purchased a house in 2010 (or even later), now might be the perfect time to move up to the home of your dreams!

 

Source.. KCM Fernando Herboso Blog

 

We fully understand that buying or selling a home is more than just a business  transaction between two people. 

We know how it affects your family and we know the experience could affect the quality of your life.

That’s why our team of highly-seasoned real estate professionals are dedicated to providing you with exceptional services at a local level.

Our pride is our personal touch that we use to connect with our clients, 

where our goal is to build a long-term relationship based on trust and service.

Let us help you achieve all your real estate goals. 

Give us a call now.

Search for the newest listings in Frederick by map (click picture below) 

 

 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Aug. 9, 2017

Clarksburg Village MD | Housing Inventory Hits 30-Year Low

Clarksburg Village MD | Housing Inventory Hits 30-Year Low

 

Clarksburg Village MD Local Market Tidbits:

What can you say about our local Real Estate Market for this year? 

I like to analyze it with a depth study and perspective to bring you the facts and insights that should matter to you.

If you are a buyer, you should proceed with caution in choosing existing homes vs new construction.

If you are a seller, you have major competition with new construction in the area and it is very important that your marketing should primarily highlight the benefits from your home's perspective.

Clarksburg Village remains the most sought after neighborhood in Clarksburg MD and there are several reason why..

 

Today I want to talk to you about  Housing Inventory Hits 30-Year Low

 

Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs.

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”

Overall inventory across the United States is down for the 25th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

 

Real estate is local.

Market conditions in the starter and trade-up home markets are in line with the median US figures, but conditions in the luxury and premium markets are following an opposite path. Premium homes are staying on the market longer with ample inventory to suggest a buyer’s market.

 

Bottom Line

Buyers are out in force, and there has never been a better time to move-up to a premium or luxury home. If you are considering selling your starter or trade-up home and moving up this year, let’s get together to discuss the exact conditions in our area.

 

Source.. KCM Fernando Herboso Blog

 

The Clarksburg Village Maryland real estate market is uniquely hyper-local, meaning that you can't  throw the latest sales numbers within local/national levels and expect meaningful results about its condition.

Buyers should be very observant about the trends and direction of the market before putting an offer for a house.

Our agents are ready to help all your real estate needs 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Clarksburg by map (click picture below) 

 

 

Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in Clarksburg
Aug. 8, 2017

Gaithersburg - Lakelands MD | 93.9% Of Homes in The US Have Positive Equity

Gaithersburg - Lakelands MD | 93.9% Of Homes in The US Have Positive Equity

 

Gaithersburg Lakelands  MD Local Market Tidbits:

Today I decided to bring you some news about the things that matters the most to our local real estate market

As you are aware, the real estate market is like the weather. The economic conditions within the area are the most influential on home prices and its stability.

Sometimes even within neighboring counties, our local real estate market could be completely different.

For that reason we are focusing in Lakelands Gaithersburg. In a way this beautiful neighborhood area in Gaithersburg suffers an identity crisis because of its most popular neighbor “The Kentlands” 

Yes, you may see disparities between these two neighborhoods but, most homeowners living on Lakelands are just happier that they don't get the negatives of being the most popular neighborhood in the area. Traffic can be a problem for the most part..while the Lakelands remain relatively quiet and serene..yet they still enjoy the same amenities.

 

Today, I would like to speak to you about  93.9% Of Homes in The US Have Positive Equity

 

CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year. 

 

The study also revealed that:

 

* Roughly 63% of all homeowners have seen their equity increase since Q1 2016

* The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017

* Only 1.6% of residential properties are near-negative equity

Below is a map showing the percentage of homes with a mortgage, in each state, that have positive equity. (The states in gray have insufficient data to report.)

Significant Equity Is On The Rise

Frank Martell, President & CEO of CoreLogic, believes this is great news for the “long-term health of the U.S. economy.” He went on to say:

 

“Homeowner equity increased by $766 billion over the last year, the largest increase since Q2 2014. The rising cushion of home equity is one of the main drivers of improved mortgage performance. Since home equity is the largest source of homeowner wealth, the increase in home equity also supports consumer balance sheets, spending and the broader economy.”

Of the 93.9% of homeowners with positive equity in the US, 78.8% have significant equity (defined as more than 20%). This means that nearly three out of four homeowners with a mortgage could use the equity in their current home to purchase a new home, now.

The map below shows the percentage of homes with a mortgage, in each state, that have significant equity. (The states in gray have insufficient data to report.)

Bottom Line 

If you are one of the many homeowners who are unsure of how much equity they have in their homes and are curious about their ability to move, let’s meet up to evaluate your situation.

 

Source.. KCM Fernando Herboso Blog

 

We are interested in creating repeat business with all our clients. 

We understand that we can only do that by bringing you the latest news and information that could affect your financial world when it comes to real estate. 

We take pride in assuming that role for you 

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Gaithersburg by map (click picture below) 

 

 

Thinking of selling your home on the Lakelands or anywhere in Gaithersburg? Let Fernando take over the marketing of your property with our unique 99 STEPS system 

www.99SOLD.com - Call or text 240-426-5754 for more information. 

Posted in GAITHERSBURG, Lakelands
Aug. 7, 2017

Germantown - Milestone MD | How Long Do Most Families Stay in Their Home?

Germantown - Milestone MD |  How Long Do Most Families Stay in Their Home?

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and what type of houses they are looking for. 

Particularly in and around Milestone 20876 zip code. The addition of new store and business entities in the area makes Milestone one of the most busiest areas in Germantown.  

As you are aware, for most families, choosing a new home is the biggest financial decision they will ever make and for that reason, there are many complicated decisions involved in choosing your new home. 

 

Today I would like to talk to you about  How Long Do Most Families Stay in Their Home?

 

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 93.9% of homes with a mortgage are now in a positive equity situation with 78.8% of them having at least 20% equity, according to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2017 Home Buyer and Seller Generational Trends Report. According to the report,

“Sellers 36 years and younger stayed in their home for six years…”

These homeowners who are either looking for more space to accommodate their growing families or for better school districts are more likely to move more often (compared to 10 years for typical sellers in 2016). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

 

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.

These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news.

 

Source.. KCM Fernando Herboso Blog

 

To protect your interests and assure that you make the best possible decisions, 

it's important that you have a knowledgeable agent on your side who is an expert in the local real estate market.

We are dedicated to keeping you on top of our local market. Rest assured that we will provide you with a well-informed, 

and the most updated strategic view for your home purchase in Germantown Maryland

To reach us, please call 301-246-0001

or send us an email  info@ReallyNiceHomes.com

Search for the newest listings in Germantown by map (click picture below) 

 

 

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