Housing Inventory - Demand

Housing Prices: Supply & Demand

There is a big imbalance in housing right now. More folks want to buy homes than there are homes available to be bought. Much like any commodity, a high demand causes prices to go up. We are not seeing the end of that right now. The expectation is that prices will continue to rise.

Lack of Inventory Impacts the Housing Market

The experts are pretty much in agreement that the dynamics of the current housing market – a mismatch of inventory to demand – will keep upward pressure on housing prices. The strengthening job market means greater affordability and increased competition. If you are thinking of investing in your own personal wealth, now is a great time to get in there – before prices climb and interest rates rise even more!

Millennials Are Buying

Reasons Millennials Choose to Buy a Home

The millennials are coming into their own. This is their time. Living with the folks or sharing apartments is history. And, millennials are better educated than any generation at their age before them.

Today’s report lists 5 reasons millennials are buying. The reasons are not unlike those of their parents and grand parents before them. It’s the American Dream in full bloom. Be sure to read the report and find out what’s happening.

Millennials Are Skipping Starter Homes

Many of the millennials who have been living with mom and dad, have had to deal with educational loans. Now they have risen to better paying jobs and are settling down. Their financial buying power is enabling them to buy upscale homes the first time around. They are bypassing the starter homes and settling in for something more upscale. Looks like all the education and sacrifices have begun to pay off!
Experts Agree: Home Prices Will Increase

When 99% of the experts agree on something, chances are it will happen as predicted. Then again, most everyday folks that I chat with also agree on this subject – home prices will increase.

Prices are market driven. We have a growing population, there is X amount of homes built and a lot of folks tired of paying their landlords mortgage (are you?). Have a look at the chart – and some of our other posts. If you are a first time buyer, seriously consider jumping in the market with a lesser amount down – let appreciation work for you. It is very hard to save more for a down payment when prices are rising faster than you can save!

Rising Mortgage Rates DO NOT Lead to Falling Home Prices

No matter if you are a first time buyer or a move up buyer – rising interest rates can affect you and not only in a higher monthly payment but higher housing cost if you delay. The explanation in today’s report should make that exposure real clear. If you have questions about the economics of it or how you can best beat it, call me – Al.

Rising Rates Have Not Dampened Demand

Rising interest rates are not slowing down demand for existing homes. But sales are being impacted by the biggest housing shortage in 60 years according to the Federal Reserve! It would be nice to see more homes on the market – it just is not happening. Whether you are shopping or selling, this is an opportunity not to be missed.

Recession in 2020? What Will Be the Impact?

Recession DOES NOT Equal Housing Crisis

Sometimes folks confuse a recession with a housing market crash. Actually, they are quite different and distinct from one another.

The country has experienced a housing crash very early this century. Many have recovered from that and some still have a way to go. The country has experienced several recessions since the 70’s, all with little impact on housing. Checkout the attached chart.

If you have a fear of buying a home because there may be a coming recession, simply have a look the historical impact on housing – and then decide. If you wish to discuss it, call me – Al.

Stage and Give Access

Don’t Forget to Stage!

Over half of seller’s agents estimate that staged homes sell faster and for more money. Almost ¾ of buyer’s agents said staging helps potential buyers see the home as their own. Great reasons for staging!

I’ll add one more thought. Empty homes are much more difficult to sell. If you must move on before your home is marketed – consider paid staging or home tenders as an option. Either helps sell your home.

Access - Getting Your House SOLD!

If you want your home sold in the shortest amount of time, there are many factors to consider. Not the least of which is access. You don’t want to be a seller who does not want to be inconvenienced and show your home only on certain days of the week and within certain hours. Flexibility is key! Have a closer look at today’s report – link above.

Housing Still "Buy Now"

Housing Market Still In ‘Buy Territory’!

Rents are predicted to go up significantly – again. Home prices will too. The difference is once you have a mortgage, you can pretty much fix your payment for the next 30 years. Chances are, your landlord is not going to fix rent for any comparable amount of time.

Besides the financial impact of investing in a home, there are all the benefits of living under your own roof. If you have not had the experience, now would be good!

Housing Cost Across Time

The chart is pretty self-explanatory. I remember when rates hit 18%. I was right in the middle of buying an apartment building – ouch! But that is a story for another day. Check out today’s rates. They are still really AWESOME! If you need mortgage help – let me know and I can give you a couple referrals.

20% down!

Folks - this begins our new video series. We will be posting a new video on every even numbered day from now through August 18. Be sure to subscribe and visit often.

BEST BUY (really is)

Actually, this article is about the Geek Squad – and, more specifically the one at 1604 and 281N in San Antonio.

Most of you who know me know that I have a high confidence level in managing my own technology needs as well as helping others. Fortunately, I know my limit and never let pride get in the way when seeking help. The details are not really important, but the need, the timing and the security was critical and that is why I chose Best Buy.

I called ahead and spoke to Reg. The store did not stock the item that I needed so I had it overnighted. I brought the desktop and the new SSD drive to the store. The swap and operating system installation was assigned to a tech named Joe. They got it done for me in the timeline that I needed. That was about 3 weeks ago and the system is operating perfectly. Aside from the trip to and from the store, no downtime at all.

So why are you reading about this in a real estate blog? It is a recommendation that you checkout the Geek Squad for your needs. They know what they are doing and the prices are right. I understand they have something like a “membership” which can cover up to 5 devices and there are great benefits included (I have already shared this information with a half dozen friends). Notice I am not detailing the cost or benefits as I am certain they are not static. Check it out!

By the way. My experience with Geek Squad is not limited to only the one I just described. I will share one more. I have an 80 year old friend in West Virginia. She lives alone and we needed to get her up and running for email and bill paying. She went to the local Best Buy store and they helped her select a computer suited to her needs. She also paid for the Geek Squad to install it and teach her how to use it. It was a good start – but a week later, they had to go out again and rescue her. They did without a complaint. Since then – she has done fine. If you need help, I found out they teach at the store as well.

Seriously folks, whether you are PC or Apple – visit these guys. I am glad I did. Thanks to Reg and Joe - you are appreciated. Best Buy really is - the best buy!