May 2016

Found 4 blog entries for May 2016.

People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.

The Census Bureau recently released their first quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

When Is It A Good Time To Rent? Definitely NOT NOW! | Simplifying The Market

A recent Wall Street Journal article reports that rents rose “faster last year than at any time since 2007, a boon for landlords but one that has stoked concerns about housing affordability for renters.”

The article also cited results from a recent Reis Inc. report which revealed that average effective rents rose 4.6% in 2015, the biggest gain since before the recession. Over the past 15 years, rents

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Homeowners looking to sell their home are always on the lookout for shortcuts that can net them higher offers and sell their home fast. From staging tricks and pleasant aromas to favorable paint colors and more, there is an endless amount of information out there to help a buyer sell.

One tried and true method to make a house on the market shine is to add a fresh coat of paint to the interior. It is a small investment in terms of time and money and can generate more interest in your home. A bright green wall might look great for the current homeowner but could easily turn away a prospective buyer who is looking for a calm and soothing color.

Going neutral is the safest bet because it can attract people

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What if…The Appraisal Comes in Low?

First, let us take a moment to assure you this is not a common scenario. As the seller, you aren’t likely to see the results of the appraisal the buyer’s lender ordered on your home at all. If you hear nothing, that’s great! The property passed muster and you can keep on trucking with this milestone behind you. 

Sometimes, though, the appraisal comes back below the sales price agreed upon by the seller and buyer - even though you did everything in your power to prepare your home. Bummer.

A low appraisal can occur in a competitive market when multiple offers push the price above asking or even above FMV (fair market value.) Another possibility is that the initial CMA…
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Recently, there has been a lot of talk about the size of the foreclosure inventory in the nation. There has been some speculation that distressed property inventories are about to skyrocket. Today, we want to reveal what is actually taking place in this segment of the housing market.

CoreLogic, in their most recent National Foreclosure Report, reported that foreclosure inventory has decreased by 23.2% since this time last year. The report also showed that foreclosure inventory has decreased in 49 of the 50 states and that 45 states have posted a year-over-year, double-digit decline (see chart below).

Are Foreclosures Increasing or Decreasing? | Simplifying The Market

Other findings in the report:

  • The Seriously Delinquent Rate (homeowners more than 90 days behind in their mortgage payment) is 3.1% which is
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