Home Buying Traffic Continues to Stampede

“Strong” is the word for recent buyer traffic, according to the January 2018 REALTORS® Confidence Index Survey. This report measured buyer traffic conditions from November 2017 to January 2018. Compared to conditions exactly one year ago, Realtors® responded that conditions ran from “stable” (unchanged) to “very strong.” The states with the strongest buyer traffic: Washington, Idaho, Nevada, and Utah. Even the states hit by hurricanes — Texas and Florida — reported “strong” buying activity compared to a year ago. Two states reported weaker traffic than a year ago: Alaska and West Virginia. This may be related to the decrease in oil prices ...

Millennials are Skipping Starter Homes

For the last decade or so, the conventional wisdom on Millennials has been that they prefer to rent and, because of the Great Recession, they are living longer in their parents’ homes. However, those standbys are becoming old news as Millennials begin buying homes and start careers and families. In fact, Millennials are now a large part of the homebuying demographic. The catch, however, is that once again they are bucking tradition; they’re passing on the traditional starter (entry-level) home and going instead for larger, more expensive houses. The reason for this trend: older Millennials who are in their mid-30s have simultaneously saved ...

When Selling a House with Mold

Mold doesn’t discriminate; it can attack even the best and most beautiful properties. It loves warm, damp, humid conditions (think bathrooms and basements), and it lives and reproduces by creating spores. Mold is never okay with potential buyers or with the bank. Needless to say, if you’re helping your client sell a house, the mold problem should be resolved before any further steps are taken. Otherwise, you’ll need to disclose the issue or open yourself up to a lawsuit by the new owner. To avoid this: have the mold removed, and then test for any remaining or lingering presence. Mold testing kits ...

7 Secrets from the Most Successful Real Estate Industry Leaders

Like in any other business, real estate can often be challenging and discouraging. It’s okay to occasionally lick your wounds and feel sorry for yourself, but don’t give up — there are ways of staying positive, inspired, and on your way to future success. What helps: bonding with other agents, and learning new tips, tricks and strategies that help get you back on the horse and back in the race. While conversing with fellow agents, it may teach you something that could change the course of your own career. A good way to start: listen to the wise words of some of ...

Benefits of Selling to a Professional Real Estate Investor

There may be 7 million real estate investors in the United States who are looking to buy property within the next 12 months, according to the National Association of REALTORS® (NAR). If you have a house listed that is failing to move, you may consider appealing to an investor rather than a typical home buyer. Investors often buy and sell multiple properties in a short span of time. They’re looking to make a fast profit, not settle down and begin a new life. Unlike typical homebuyers, investors are more concerned with their return on investment (ROI), as well as 1031 ...

The Biggest Real Estate Deal Breakers

For an investment as important as a house, the smallest details can put a stop to what could otherwise be a big, beautiful deal. Ultimately, though, a buyer needs to think of a home purchase in Latin: caveat emptor (“let the buyer beware.”). Often, the deal breakers are right in front of you and hard to miss; other times, they take you by surprise, but not if you’re able to work from a deal breaker checklist. Here are just a few of the most common real estate deal breakers: A home your client can’t afford Be careful when a dream home can be ...

What to Do When a House Isn’t Selling

A house listed on the market and not selling is not just about the state of the economy; it’s a sign that something is wrong with how it’s being marketed. In fact, houses are currently selling like hotcakes. In 2017, 25 percent of homes on the market sold within two weeks or less during the peak buying season, according to Redfin’s 2018 housing market forecast. Nearly one in five homes (19%) were off the market in less than a week. The reason: inventory (or lack of it). This trend is expected to continue throughout 2018. Redfin’s study also states that starter-home ...

When Selling the Most Expensive House on the Block

An incredible house is always a welcoming sight when showing real estate. It could mean a larger commission for the agent, bragging rights for the new owner, and a “mission accomplished” for the seller who poured a great deal of capital into the property. However, love is blind. Make sure to take a look around the neighborhood after the initial excitement wears down. If the other houses are shabby or in disrepair, and if the neighborhood is not exactly known as upscale, the house may be too expensive for its own good. You may want to be the agent who keeps clients ...

How the Housing Inventory Shortage Will Affect Real Estate

If you’re working with sellers in 2018, you may be in luck. The home inventory across the country is in short supply, and may remain that way through much of the year. It’s a sellers’ market. According to the National Association of REALTORS® (NAR), home prices have been on the rise for 69 consecutive months, but available homes for sale were down 9.7 percent from a year ago. It’s the ole supply and demand rule: a shortage of inventory will drive prices up. The only problem with that is first-time homebuyers may be priced out of the market. The situation started with ...

How to Sell a Home with a Bad Past

A stigmatized house may often be a hard sell. In the digital age, there are very few secrets — prospective buyers can search for any gruesome details and facts about an unfortunate event that once took place on the property. Even if the home is a gem, it still may sit on the market for longer than it should, because of its dark past. The history can affect (or not affect) prospective buyers — a violent or widely reported murder or suicide, a common belief that the property is haunted, or even someone who died peacefully in the home — can ...