Nov. 20, 2018

Crown Gaithersburg MD | Females Are Making It a Priority to Invest in Real Estate!

Crown Gaithersburg MD | Females Are Making It a Priority to Invest in Real Estate!

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities. 

Not in CROW, the newest and most vibrant community in Gaithersburg MD   

Located next to Rio, this new and unique neighborhood is separate in four groups   

 

* Downtown Crown   

* Crown West   

* Crown Central    

* Crown East    

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more. 

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings.   

Today, I would like to talk about Females Are Making It a Priority to Invest in Real Estate!

 

Everyone wants a place to call home; a place that gives them a sense of security. We are currently seeing major interest from females who want to achieve this dream, and the numbers are proving it!

In 2018, for the second year in a row, single female buyers accounted for 18% of all buyers. In 2017, 60% of millennial women listed as the primary borrowers on mortgages were single.

According to the 2018 Home Buyer and Seller Generational Trends Report by the National Association of Realtors, one in five homebuyers in the U.S. were single females (most of them part of the baby boomer generation) as you can see in the graph below:

This does not come as a surprise since 50.8% of the U.S. population is female and 15.6% of them are 65 years and over, according to the Census Bureau.

 

What are the reasons for this demographic’s booming interest in homeownership?

Bankrate published an article with what they believe to be some of the reasons:

 

 * Divorce rate: Known as the “Gray Divorce,” the divorce rate has doubled for those ages 50 and over and tripled for      those ages 65 and over.

 * Average life expectancy: For women it’s 81, four years longer than men.

 * To build home equity: Women want to build equity through their home. As mentioned by Bankrate, “some are          hoping to escape rising rents, some might be downsizing or looking for a new start,” especially those going through      a gray divorce.

Are they only downsizing and buying small homes?

Not really; The Institute of Luxury Home Marketing recently stated that:

“The number of female billionaires grew faster globally in 2017 than the number of male billionaires. This redistribution of wealth has seen an impact on luxury real estate both in its purchase and design attributes – and obviously, this is important for realtors to recognize when relating to their clients.”

 

Bottom Line

Whether you are a millennial who wants to buy a starter home, a billionaire looking for that luxury home you’ve always wanted, or maybe even someone who just went through a gray divorce, let’s get together to help you create your real estate portfolio so that you can start investing your money in real estate today!

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don't hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.  

 

To reach us, please call 301-246-0001

 

 

Posted in GAITHERSBURG
Nov. 19, 2018

Milestone Germantown MD | 7 Reasons to List Your House For Sale This Holiday Season

Milestone Germantown MD | 7 Reasons to List Your House For Sale This Holiday Season

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit 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 7 Reasons to List Your House For Sale This Holiday Season

 

Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

 

Here are seven great reasons not to wait:

 

1.- Relocation buyers are out there. Many companies are still hiring throughout the holidays and need     their new employees in their new positions as soon as possible.

2.- Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.

3.- You can restrict the showings on your home to the times you want it shown. You will remain in control.

4.- Homes show better when decorated for the holidays.

5.- There is minimal competition for you as a seller right now. Inventory of homes for sale traditionally     slows in the late fall, early winter. Let’s take a look at listing inventory as compared to the same     time last year:

6.- The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their     dream homes during the busy spring and summer months are still searching!

7.- The supply of listings increases substantially after the holidays. Also, in many parts of the country,     new construction will continue to surge and reach new heights which will lessen the demand for your     house in 2019.

 

Bottom Line 

Waiting until after the holidays to sell your home probably doesn’t make sense.

 

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  

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
Nov. 16, 2018

Cabin Branch Clarksburg MD | The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

Cabin Branch Clarksburg MD | The Cost of Renting vs. Buying a Home [INFOGRAPHIC]

 

If you are looking to buy a home in Cabin Branch Clarksburg. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Cabin Branch area.   

Today, I would like to talk to you about The Cost of Renting vs. Buying a Home

 

Some Highlights:

 * Historically, the choice between renting or buying a home has been a tough decision.

 * Looking at the percentage of income needed to rent a median-priced home today (28.4%) vs. the    percentage needed to buy a median-priced home (17.5%), the choice becomes obvious.

 * Every market is different. Before you renew your lease again, find out if you can put your housing    costs to work by buying this year!

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about Cabin Branch, the schools, the amenities or the surrounding community, don't hesitate to call on us at 301-246-0001 We will be happy to help you. We specialize in Clarksburg and our agents also live here.

To reach us, please call 301-246-0001

Or send us an email to: info@ReallyNiceHomes.com 

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

 

 

Posted in Clarksburg
Nov. 15, 2018

Villages of Urbana Homes For Sale | Wage Increases Make Home Buying More Affordable

Villages of Urbana Homes For Sale | Wage Increases Make Home Buying More Affordable

 

If you are looking for a home in the Villages of Urbana. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about Wage Increases Make Home Buying More Affordable

 

Everyone knows that housing affordability has been negatively impacted by rising prices and increasing mortgage rates, but there is another piece to the affordability equation – wages.

How much a family earns obviously impacts how easy or difficult it is for them to afford to own a home. Because of an improving economy, wages are finally beginning to increase – and that dramatically affects home affordability.

According to the National Association of Realtors’ (NAR) September 2018 Housing Affordability Index, wages have increased in every region of the country:

After applying current salaries, home prices, and mortgage rates to their Home Affordability Index equation, the index, though still lower than this time last year (160.1 to 146.7), increased over the last month (141.2 to 146.7). For the complete methodology used by NAR, click here.

The percentage of income needed to own a home has also decreased each of the last three months. It currently sits at 17% which is substantially lower than historic numbers.

Bottom Line

If you are a first-time buyer or a move-up buyer who believes that purchasing a home is not within your budget, let’s get together to determine if that is still true.

 

Source.. KCM Fernando Herboso Blog

 

If you want to find the best house for the money in Villages of Urbana….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 301-246-0001

Or text to: 240-426-5754

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.

 

 

Posted in Urbana
Nov. 14, 2018

Crystal City, Arlington, VA Amazon Amazing Housing Opportunities 2019

Crystal City, Arlington, VA Amazon Amazing Housing Opportunities 2019

It’s official now, Crystal City located in Arlington County Virginia will become home to Amazon’s long-anticipated second headquarters.

Photo Courtesy: https://commons.wikimedia.org/w/index.php?curid=18594594

 

Amazon Crystal City

After the great news and passing congratulations between city government officials , comes the realization: “Where are we going to house all these new families moving into the area?” 

Even before the Amazon announcement, the Metropolitan Washington Council of Governments, was saying that by 2025, the region required an additional 235,000 housing units just to keep pace with already anticipated job growth, …and the grim news, only about 170,000 were currently expected.

Now, add the Amazon online giant and the tremendous pressure it brings to housing in the area

Amazon already promised 50,000 new jobs for their new HQ2…plus! 

Secondary supporting jobs in Restaurants, entertainment, transportation, housekeeping …etc, etc

Amazon Headquarters HD2

The new headquarters will employ high-paid, high-skilled workers according to the company’s planning. The average salary will be at $150,000. 

Those workers will need every bit of that salary to pay for housing..if they want to live within a reasonable commuting distance.

Arlington’s low vacancy rate already can make it difficult for families with limited financial resources to find housing.

This has already puts upward pressure on house prices and rents. 

As a real estate broker, we are contacting everyone in our database that was interested in purchasing Arlington real estate…the waiting and being on the fence is over, do it now or pay a lot more later!

Arlington VA REAL ESTATE

 

If you are looking for single family homes in the area, these homes are the most expensive housing in the area

You can start your search for Arlington Single Family Homes For Sale Here

The second tier of home for pricing in general are townhouses or townhomes. They are more affordable than single family homes. 

You can start your search for Arlington Townhomes For Sale Here

Some people prefer condos, and you will find some nearby condos in the area to be more expensive than some single family homes. It all depends on its location and walkability factors 

You can start your search for Arlington Condos For Sale Here

Foreclosures in Arlington County 

Opportunity seekers sometimes look for distressed properties in the Arlington area. I can assure you that there are not too many out there….and if you find them, be prepared to compete with hundreds of local investors sniffing out the latest foreclosures

Just in case you want to try your luck looking at foreclosures

You can start your search for Arlington Foreclosures For Sale Here

Finally, we know that Crystal City in Arlington County has already one of the highest rents in the area. Now that the online giant Amazon is now moving in…it will be difficult for families with limited financial resources to find housing.

Homes For Rent in Arlington County

If renting is on your plans and not buying, then…

You can start your search for Arlington Homes FOR RENT Here

— — — — — — — — — — — 

Arlington Real Estate Agent

 

Real Estate Agent Arlington, VA

If you are planning in finding a home in the area(s) of Arlington/Crystal City in Northern Virginia

Here is some advice for you:

Find an agent that has a direct plan that is designed to incorporate all the resources, tools, and systems to accomplish your goals and needs as a buyer for real estate.

Look for somebody who is going to save the most amount of money because of their knowledge of the area and their knowledge of new inventory as it happens. It is important that you find a real estate agent that focus ON YOU, YOUR NEEDS and YOUR WANTS above all. 

Mistakes when hiring a Realtor

 

Realty Company in Arlington VA

What factors must you consider when you’re ready to buy a home….or sell a home in the area to the newcomers?. Before you make that decision, I recommend to check their reviews intently 

Here’s ours and I appreciate the fact that you may be considering us as the real estate agent to help you on the process to buy or sell real estate

If you have any questions about living in Northern Virginia and the areas of Arlington County/ Crystal City. We have ready information about the schools, amenities or the surrounding community, don’t hesitate to give us a call at 301–246–0001 We will be happy to help you. 

To reach us, please call 301–246–0001

Thank you

 

 

Nov. 13, 2018

Sell My House in MD | Are Homeowners Renovating to Sell or to Stay?

Sell My House in MD | Are Homeowners Renovating to Sell or to Stay?

 

Most real estate brokers and agents don't really have all the tools needed to provide 100% selling services to sellers that need to sell their houses  quick, for cash and at a fair price.   

This is why we have integrated fully with all the data on the MLS and became a real estate source to thousands of investors in the MD, DC & VA region.   

In order for most consumers to take advantage of the competition between these investors, we've created the perfect system. If you are in the market to sell you home and you are in need for a fair offer  right away... you've come to the right place.   

We can provide customised innovation towards all  your real estate needs if you are a home seller.  

Today, I would like to talk to you about Are Homeowners Renovating to Sell or to Stay?

 

Over the past few years, two trends have emerged in the housing market:

 

 1.- Home renovations have shot up

 2.- Inventory of homes available for sale on the market has dropped

 

A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.

This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.

According to Home Advisor, homeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.

A new study from Zillow asked the question,

“Given a choice between spending a fixed amount of money on a down payment for a new home or fixing up their current home, what would you do?”

Seventy-six percent of those surveyed said that they would rather renovate their current homes than move. The results are broken down by generation below.

More and more studies are coming out about the intention that many Americans have to ‘age in place’ (or retire in the area in which they live). Among retirees, 91% would prefer to renovate than spend their available funds on a down payment on a new home.

If their current house fits their needs as far as space and accessibility are concerned, then a renovation could make sense. But if renovations will end up changing the identity of the home and impacting resale value, then the renovations may end up costing them more in the long run.

With home prices increasing steadily for the last 6.5 years, homeowners have naturally gained equity that they may not even be aware of. Listing your house for sale in this low-competition environment could net you more money than your renovations otherwise would.

 

Bottom Line

If you are one of the many homeowners who is thinking about remodeling instead of selling, let’s get together to help you make the right decision for you based on the demand for your house in today’s market.

 

Source.. KCM Fernando Herboso Blog

 

To show my commitment to my clients, I will utilize the latest technology, know-how and information allowing me to bring you the best and highest offer for your house. 

To connect with me directly, 

Please call Fernando at 301-246-0001

Or via email:  Fernando@ReallyNiceHomes.com 

If you are thinking of selling your home in a more traditional way... 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 Selling
Nov. 12, 2018

Milestone Germantown MD | How to Honor a Veteran Today and Everyday

Milestone Germantown MD | How to Honor a Veteran Today and Everyday

 

At a local level in Germantown Maryland, buyer confidence remains strong with some changes that varies on the price level and whit 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 to Honor a Veteran Today and Everyday

 

One hundred years ago, on the eleventh hour of the eleventh day of the eleventh month, we marked the end of the “war to end all wars.” That day, which was to be observed annually on the eleventh day of the eleventh month, became known as Armistice Day and then, later on, became Veterans Day.

But Veterans Day is not for veterans. They don’t serve for thanks or recognition. Veterans Day sets aside a day for those of us who haven’t worn the uniform to acknowledge those who have.

 

So today, we honor and remember.

If you ask a military family, ANY military family, how you can help them, they will respond without hesitation, “Make sure my service member is taken care of.”

If you ask a service member, ANY service member, how you can best honor them, they will respond without hesitation, “Take care of my family.”

Don’t know anyone who has served or is serving? More than likely, there are veterans in your midst. Each year, 260,000 military personnel relocate to new communities, and another 230,000 transition out of the military. In total, there are 22 million veterans among us in the world.

For those who relocate through a Permanent Change of Station (or PCS), it can be a pretty stressful time. There isn’t a lot of time to find a new place to live and the timeline is more accelerated for finding a place to call home.

MILLIE is an online community and digital marketplace that connects members of the military and their families with specialized knowledge and trusted resource providers to alleviate the stress of PCSing.

According to MILLIE, “70% of active duty families live off the installation and in the surrounding communities.” Wondering what you can do to help make a recently PCSed family feel welcome?

A recent survey of military families revealed that,

“When respondents described the support they most appreciate, family, friends, and faith-based communities rose to the top. When they described the support they needed, they called for more networking, communication, and support groups.

Families said that when leaving service, they feel as though they do not fit into the civilian world. Forging partnerships between military and civilian support systems will encourage pathways of understanding.”

If you find out that your new neighbor may have been PCSed, make an effort to share what you know about your community, from the best pizza place to where you can get your oil changed.

If you know that the service member of the family is actively deployed, helping out with tasks like mowing the lawn or bringing over a home-cooked meal are small gestures that will go a long way towards welcoming this family into their new home.

 

Bottom Line

Today, we honor and remember those who have served for our country. Everyone always asks what they can do to help, sometimes the simplest answer is the best one.

 

More about MILLIE:

MILLIE is an online community and digital marketplace that connects members of the military and their families with specialized knowledge and trusted resource providers to alleviate the stress of PCS’ing. Check out MILLIE’s Installation Guides, their network of Veteran and military spouse real estate agents, and MILLIE Scouts, their on-demand task service comprised of military spouses.

 

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  

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
Nov. 9, 2018

Villages of Urbana Homes For Sale | VA Home Loans by the Numbers [INFOGRAPHIC]

Villages of Urbana Homes For Sale | VA Home Loans by the Numbers [INFOGRAPHIC]

 

If you are looking for a home in the Villages of Urbana. Let us share a secret with you. When someone becomes a professional real estate agent, they make a commitment to their clients from the moment they first connect, whether it is, first-time homebuyer's, who are very excited to purchase their very own home.... or seasoned Investors who are trying to build equity with key purchases and increase their portfolios. What is important for you to know is that your main purpose is to find the right real estate professional that will dedicate time and energy to bring exactly what you are looking for. Take your time and pick the one that has that commitment deep in their hearts

To show this commitment to my clients, We bring the latest technology, know-how and information allowing me to bring the best possible outcome on every real estate transaction we perform.

Today, I would like to talk to you about VA Home Loans by the Numbers

 

Some Highlights:

 * The Veterans Administration (VA) Home Loan is a benefit that is available to more than 22 million    veterans & 2 million active duty service members which helps them achieve their dreams of    homeownership.

 * In 2017, $189 billion was loaned to veterans and their families through the program.

 * VA Purchase Loans are on the rise in 46 out of 50 states and Washington, DC.

 

Source.. KCM Fernando Herboso Blog

 

If you want to find the best house for the money in Villages of Urbana….

This is what we can do for you, 

We will prepare you a list of houses that fit your criteria and take the time to show all these houses to you, with no pressure and no hassle.

So please let us know when you are ready to get started

If you want to get started now, 

Please call us at 301-246-0001

Or text to: 240-426-5754

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.

 

 

Posted in Urbana
Nov. 8, 2018

Crown Gaithersburg MD | 75% of Renters Have Been Misinformed

Crown Gaithersburg MD | 75% of Renters Have Been Misinformed

 

As Gaithersburg has developed over the years, many neighborhoods are now blended with one and another without any distinction or personalities. 

Not in CROW, the newest and most vibrant community in Gaithersburg MD   

Located next to Rio, this new and unique neighborhood is separate in four groups   

 

* Downtown Crown   

* Crown West   

* Crown Central    

* Crown East    

 

If you are looking for city-living style with a flair of urban village, The Crown community has everything to offer and more. 

There is even a direct Metro Shuttle between the community and Shady Grove Metro Station to connect you directly with Washington DC and its surroundings.   

Today, I would like to talk about 75% of Renters Have Been Misinformed

 

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can’t partake in a major part of the American Dream – owning a home.

In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to 2010. To come back from that recession, mortgage interest rates were pushed down to levels that were never seen before.

For the last ten years, you could purchase a home at a dramatically discounted price and attain a mortgage at a historically low mortgage rate.

 

Affordability skyrocketed.

Now that home values have returned to where they should be, and mortgage rates are beginning to increase, it is less affordable to own a home than it was over the last ten years.

However, what is not being reported is that it is MORE AFFORDABLE to own a home today than at any other time since 1985 (when data was first collected on this point).

If you take out the years after the crash, affordability today is greater than it has been at almost any time in American history.

This has not been adequately reported which has led to many Americans believing that they cannot currently afford a home.

As an example, the latest edition of Freddie Mac’s Research: Profile of Today’s Renter reveals that 75% of renters now believe it is more affordable to rent than to own their own homes. This percentage is the highest ever recorded. The challenge is that this belief is incorrect. Study after study has proven that in today’s market, it is less expensive to own a home than it is to rent a home in the United States.

Thankfully, some are starting to see this situation and accurately report on it. The National Association of Realtors, in their 2019 Housing Forecast, mentions this concern:

“While the U.S. is experiencing historically normal levels of affordability, potential buyers may be staying out of the market because of perceived problems with affordability.”

 

Bottom Line

If you are one of the many renters who would like to own their own homes, let’s get together to find out if homeownership is affordable for you right now.

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about the Crown Plaza, Gaithersburg MD, the schools, amenities or the surrounding community, don't hesitate to give us a call at 301-246-0001 We will be happy to help you. We specialize in Gaithersburg MD and our agents also live here.  

To reach us, please call 301-246-0001

 

 

Posted in GAITHERSBURG
Nov. 7, 2018

Cabin Branch Clarksburg MD | Why Has Housing Supply Increased as Sales Have Slowed Down?

Cabin Branch Clarksburg MD | Why Has Housing Supply Increased as Sales Have Slowed Down?

 

If you are looking to buy a home in Cabin Branch Clarksburg. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Cabin Branch area.   

Today, I would like to talk to you about Why Has Housing Supply Increased as Sales Have Slowed Down?

 

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.

For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.

NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,

“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”

 

Let’s take a deeper look:

Interest Rates

Since January, 30-year fixed mortgage interest rates have increased nearly a full percentage point (from 3.95% to 4.9%). Fannie Mae, Freddie Mac, the National Association of Realtors, and the Mortgage Bankers Association are all in agreement that rates will continue to increase to about 5.2% over the next 12 months.

“The rise in [mortgage] rates paired with this very strong price appreciation absolutely is slowing housing,” said Fannie Mae’s Chief Economist Doug Duncan.

Even though rates are higher than they’ve been in a decade, they still remain below the average for the 1970s, 80s, 90s, and 2000s!

 

Mismatch of Inventory

Elizabeth Mendenhall, President of NAR, said it best, “Despite small month over month increases, the share of first-time buyers in the market continues to underwhelm because there are simply not enough listings in their price range.”

Prices of starter and trade-up homes have appreciated faster than their higher-priced counterparts. Over the last 5 years, the lowest-priced homes have appreciated by 47% while the highest-priced homes have appreciated by only 24%.

According to the Institute of Luxury Home Market’s Luxury Market Report, the $1M-and-up price range is now experiencing a buyer’s market. This means that supply (inventory) has finally caught up with demand and buyers are in the driver’s seat when it comes to negotiations. Additionally, many listings in this price range have experienced price cuts in order to entice buyers to put in offers.

 

Natural Disasters

Although not fully to blame for the national shortage in sales and inventory, natural disasters like Hurricane Florence, Hurricane Michael, and the wildfires on the West Coast have certainly had an impact.

 

Bottom Line

Additional inventory coming to market could help normalize the housing market and allow incomes to catch up to home prices. For more information about sales and inventory in our area, let’s get together so we can help you make the best decision for you and your family.

 

Source.. KCM Fernando Herboso Blog

 

If you have any questions about Cabin Branch, the schools, the amenities or the surrounding community, don't hesitate to call on us at 301-246-0001 We will be happy to help you. We specialize in Clarksburg and our agents also live here.

To reach us, please call 301-246-0001

Or send us an email to: info@ReallyNiceHomes.com 

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

 

 

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