Sell My House in MD | Forget the Price of the Home. The Cost is What Matters.

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 Forget the Price of the Home. The Cost is What Matters.

Home buying activity (demand) is up, and the number of available listings (supply) is down. When demand outpaces supply, prices appreciate. That’s why firms are beginning to increase their projections for home price appreciation going forward. As an example, CoreLogic increased their 12-month projection for home values from 4.5% to 5.6% over the last few months.

The reacceleration of home values will cause some to again voice concerns about affordability. Just last week, however, First American came out with a data analysis that explains how price is not the only market factor that impacts affordability. They studied prices, mortgage rates, and wages from January through August of this year. Here are their findings:

Home Prices
“In January 2019, a family with the median household income in the U.S. could afford to buy a $373,900 house. By August, that home had appreciated to $395,000, an increase of $21,100.”

Mortgage Interest Rates
“The 0.85 percentage point drop in mortgage rates from January 2019 through August 2019 increased affordability by 9.7%. That translates to a $40,200 improvement in house-buying power in just eight months.”

Wage Growth
“As rates have fallen in 2019, the economy has continued to perform well also, resulting in a tight labor market and wage growth. Wage growth pushes household incomes upward, which were 1.5% higher in August compared with January. The growth in household income increased consumer house-buying power by 1.5%, pushing house-buying power up an additional $5,600.”

When all three market factors are combined, purchasing power increased by $24,500, thus making home buying more affordable, not less affordable. Here is a table that simply shows the data:

Bottom Line
In the article, Mark Fleming, Chief Economist at First American, explained it best:

“Focusing on nominal house price changes alone as an indication of changing affordability, or even the relationship between nominal house price growth and income growth, overlooks what matters more to potential buyers – surging house-buying power driven by the dynamic duo of mortgage rates and income growth. And, we all know from experience, you buy what you can afford to pay per month.”

Source.. KCM Bill & Fran Jenkins 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.

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