Tuesday, May 21, 2019 / by Miranda Miller
ATTOM Data Solutions conducted an analysis of more than 29 million single family home and condo sales over the past eight years to determine the top days to list your home for sale.
The top five days to list your home brought in a 10% premium over market value and are all in either May or June!
“Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.”
There is still time to list your home before these dates pass you by!
Tuesday, April 30, 2019 / by Miranda Miller
There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Reportfrom the National Association of Realtors asked recent home sellers to share their reason for moving.
The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.
For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.
Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?
Friday, April 26, 2019 / by Miranda Miller
Hey, Foodie Friday Friends!
We are back with some great taste bud teasers, are you a supporter of the farmers’ market here in town? If you are not, you probably will be by the time you reach the end of this blog.
Yesterday, the team got the pleasure of meeting, Dorian West! He and his wife are the cheesemakers in the small, quaint town of Hillsborough, NC. They share the cheese making business as a family. Dorian and Cindy met at UNC, she begin working in restaurants in 1990s. The two actually ventured into Paris, where Cindy earned a Gran Diplomè with honors of Le Cordon Bleu. They moved back to the states and landed a piece of property in Hillsborough adjoining her parent’s land. Dorian accepted a position in the health care industry. Cindy, while working the farm spent some time trying to make fromage like she did in France. This curiosity has made them very successful.
They have 2 wonderful children, Addison and Anna. Everyone in the West family plays a ...
Thursday, April 25, 2019 / by Miranda Miller
In a recent Insights Blog, CoreLogic reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.
“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”
Why the difference between the costs of renting versus owning?
It makes sense that rents have risen. However, how did mortgage payments decrease? CoreLogic explained:
“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018.
The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then & ...
Wednesday, April 24, 2019 / by Lisa Flynt Tran
There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.
While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.
Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market.
If millennials are unable to find a home to buy at a young age like their predecessors, then who is living in those homes?
The answer: Seniors born after 1931 are staying in their homes longer than previous generations, instead choosing to “age in place.”