This chart for Single Family Homes in Cobb County shows data through December 2015 for Inventory, Closed Sales and Pending Sales.
For some the holidays will be almost chaotic with meals to be made and shopping to be done all while looking for a deal. For others it is a time to finish 2014 strong and begin anew in 2015. In real estate, we must focus on the later group, those looking to make their last big investment of the year. The holidays make it a perfect time for the calm and qualified buyers to preview homes, avoid the less serious buyers, and benefit on year-end tax incentives. Listing your home this holiday season may just bring you the buyer you’ve been waiting and hoping for.
- Showings are fewer and less intrusive, yet qualified buyers are more motivated.
- December and early January buyers are particularly serious and very likely facing some sort of deadline.
- Many buyers have vacation around the holidays allowing more time to look.
- Buying before the end of the year is beneficial for financial and tax reasons.
- January is the biggest transfer month of the year; a transferee will use the holidays to house hunt.
- By selling now, you may have an opportunity to be a non-contingent buyer during the spring when more houses come on the market.
- Buyers are more emotional during the holidays.
- Buyers have fewer choices, so you have less competition.
- Less wait time for inspectors and appraisers.
- All the part-time REALTORS have taken the month off!
Economic Week in Review: Navigating through choppy waters
JULY 18, 2014
The financial markets had many factors to absorb this week, including Fed Chairwoman Janet Yellen’s testimony to the Senate Banking Committee, clashes in the Middle East, and the downing of a Malaysian airliner in Ukraine. U.S. economic data were mixed—the Fed’s Beige Book indicated modest growth throughout the country while housing starts dropped more than 9% in June.
For the week ended July 18, 2014, the S&P 500 Index was up 0.5% to 1,978 (for a year-to-date total return—including price change plus dividends—of about 8%). The yield on the 10-year U.S. Treasury note was down 3 basis points for the week to 2.50%, for a year-to-date decrease of 54 basis points.
Housing starts sink
Construction of new homes dropped 9.3% in June, the weakest showing since September 2013. Housing sectors in the South were the hardest hit, as a record 30% decline was attributed to unusually heavy rain that threw a wet blanket on permits and construction. However, there were a few bright spots. Permits for single-family homes were up for the last two months and overall housing starts still were up 7.5% from a year ago.
Analysts are said to be looking for July’s results to determine if June’s showing is a trend or an aberration. The results also will be closely watched by Federal Reserve officials, who look to the housing market as an indicator of economic growth when considering monetary policy. Continue reading
While recently released home-sales data have been below expectations, economists are hopeful it’s a pause rather than anything permanent. The housing market’s recovery has been crucial to the economy’s improvement since the recession. Although traction has been lost, the overall trend is still promising. Looking beyond real estate, there were upbeat reports on durable goods and The Conference Board’s index of leading indicators.
Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons. Information provided by http://www.keepingcurrentmatters.com/
1. Demand is about to skyrocket
Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.
These buyers are ready, willing and able to buy…and are in the market right now!
2. There Is Less Competition – For Now
Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future.
The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale.
3. There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 4% this year and 8% by the end of 2015. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2015.
Moving up to a new home will be less expensive this spring than later this year or next year.
If you are a real estate professional and want great information on where prices and interest rates are headed over the next 18 months, we cover both in the March edition of Keeping Current Matters. If you are already one of our 6,000+ members, login in to get the educational resources you need to intelligently discuss the future of values and interest rates with your clients.