Locke Associates Real Estate Blog
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Are you interested in selling and curious what your home is worth? Your first instinct may to turn to an automated online home value estimator, such as Zillow, Trulia, or Realtor. The fact of the matter is that they generally use a computer algorithm to compare your home with other recently sold homes in the area. However, they can’t see inside your home. They are unable to put a price value on the condition, recent upgrades, features, etc. Even if you live in a neighborhood with comparable homes, each home differs substantially. Not to mention, these online generators could be undervaluing or overvaluing the price of your home. If you are ready to make a move, call our office. We have a team of experts that would be happy to provide a pressure free market analysis of your home.
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The housing supply is rising! What does that mean for buyers? More inventory equals more options. We are still not close to a balanced market; however, we are starting to see an uptick in new housing inventory coming to the market. The new available housing inventory will allow buyers to keep the buying process moving forward. Now is the time to buy as mortgage rates are beginning to increase, which will make purchasing a home less affordable as time passes.
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If you are thinking of buying a home, there truly is no better time than now. With today’s low mortgage rates, buyers have a great opportunity to get more home for their money. There still may be limited inventory, leading to more buyer competition and bidding wars, but more inventory is entering the marketplace each day.
If you are having a challenge finding a home that fits the bill, it may be time to talk to your trusted real estate advisor about building. New home construction is ramping up. Although, new construction won’t completely solve the housing inventory shortage, it does mean that more options will soon be available as you continue your home search.
Read more: Limited Inventory? Maybe New Construction is the Answer
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As we move into the second half of the year, many have questions on what to expect with the real estate market and what’s on the horizon.
The current real estate market is historic. Near record-low mortgage rates are fueling high demand, but a shortage of inventory has complicated buyer’s home searches. Throw a global pandemic into the mix, and we are looking at a real estate market that nobody has witnessed before. Today’s buyers and sellers face unique challenges, and it’s up to trusted real estate professionals to help guide them through these conditions.
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If you’re a homeowner thinking about selling, don’t wait. You have a huge advantage in today’s housing market as we are in the ultimate seller’s market. The buyer demand is still at an all-time high and with very few houses on the market for sale, making it the best possible time to sell.
Buyer traffic is strong, and they are each determined to find that home that “fits the bill.” Sellers are still receiving multiple offers and these bidding wars are continuing to drive up the prices of homes.
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Looking to refresh your space? These design tips have the power to totally transform any room, and they’re easy to implement!
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There are a variety of different reasons why Americans are moving this year. The health crisis has truly reshaped people’s lifestyles and needs. Many folks are spending so much more time in their homes and it has made them reconsider what homeownership truly means to them.
The COVID-19 pandemic has been a major influence on consumers moves in 2020 and 2021. Whether it because they wanted to be closer to family, change in employment status or a desire for a change in lifestyle.
Remote work has become the new norm. For some, its lasting much longer than initially anticipated. Maybe your current home isn’t optimally designed for a make shift home office and it is creating a challenging working environment. Many of the current workforce is discovering that they don’t need to live so close to the office anymore and they aren’t making that daily commute. Many consumers are realizing that they can get a little more for their money if they move further away from the city.