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Proof that NOW is a Good Time to Sell

by Allison Simson

Proof that NOW is a Good Time to Sell | Keeping Current Matters

Most homeowners believe that the winter is not a good time to sell. This belief is based on the fact that historically the number of buyers decreases in the winter and then increases dramatically during the spring buying market. Though this is still true, there is an interesting pattern developing over the last few months. The number of prospective purchasers actively looking at a home (foot traffic) has remained strong going into the fall. As a matter of fact, the foot traffic far exceeds the numbers reported for the same months last year (see chart):

 

At the same time, the National Association of Realtors revealed that the months’ supply of housing inventory has decreased from 5.5 months to 5.3. That equates to less competition for homeowners selling today as compared to next spring when many homeowners will decide to put their home on the market.

Bottom Line

Since buying activity is still strong, this might be a great time to put your house on the market.

 

 

The Importance of Using a Professional When Selling Your Home

by Allison Simson

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold. In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. For the past two years, 92% of all buyers have used the internet in their home search according to the National Association of Realtors’ 2014 Profile of Home Buyers & Sellers. However, the report also revealed that for the second year in a row 96% percent of buyers that used the internet when searching for a home purchased their home through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their home directly from a seller whom the buyer didn’t know. Buyers search for a home online but then depend on an agent to find the actual home they will buy (53%) or negotiate the terms of the sale & price (31%) or understand the process (63%). Stephen Phillips, the Chief Operating Officer for HSF Affiliates LLC, put it best:

“Home buyers are more informed than ever with their Internet searches and ongoing research; however, there’s a critical need to transform that information into analysis and advice that helps consumers make the best home-buying and selling decisions.”

The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots”. This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001. 

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

Freedom isn't free...thank you Vets!!

by Allison Simson

Winter has arrived in the high country!!

"The first fall of snow is not only and event, it's a magical event.  You go to bed in one kind of world and wake up in another quite different, and if this is not enchantment, then where is it to be found?" ~ JB Priestley

In honor of Veteran's day, I thought I'd share something written by one of our Real Estate Specialists, Kristin, about her father: 


"This week, as I travel to Houston to visit with family, I find myself thinking of all the service men and women working overseas. 

Honestly, whenever things get really tough, and I think about how 'hard' owning my own business can be, I think of my Dad.  My father was 19 when he shipped off to Viet Nam in 1969.  He had a high school diploma, and love for his country.  After his tours were over, he was the only man from his unit to return to the United States alive.  He lost every friend he knew, and made some along the way. 

I am so blessed and proud that he made it back!  The stories he tells are colored with many feelings, but the strongest one that comes across to me was that he had hope.  When he was alone for days, walking through a foreign land, he hoped for a better future.  Before I was a thought in his mind, he fought for his children's children to have a better life. 

I strive to make him, and other soldiers proud.  We are so blessed to live in a country where anyone, especially women, have no ceiling on their limit for success and finances.  People from all over the world move to America to 'live the dream', to open their own businesses, to walk down the street wearing whatever clothes they wish to wear, and say what they want to say.  Many people from war-torn countries move to our country, open a business, and create wealth for their families that has never been experienced, surpassing all their past generations' wealth, creating a lifestyle for themselves that helps take care of their entire families.

Are you living the dream? Are you waking up each morning in gratitude for the soldiers who are risking and losing their lives for these freedoms? It doesn't matter if you believe in the war, or what your political beliefs are.  The fact is that our soldiers protect our precious freedoms in war and in peace. Without their beliefs in God and country, and intentions to protect the American dream, we would not have our dreams, hopes, aspirations, and the voice to complain about Monday mornings!"

Here's to you, Veteran's!  Thank you from the bottom of our hearts!

See you on the slopes!

Debunking 4 Myths about Buying a Home

by Allison Simson

Debunking 4 Myths about Buying a Home

Debunking 4 Myths about Buying a Home | Keeping Current Matters

A recent study by the Joint Center for Housing Studies at Harvard University revealed when renters were asked why they do no plan to own in the future, financial constraints were a more common response than the perceived lifestyle benefits they may receive from renting. Today, we want to go over those financial challenges and see if we can put some fears to rest and also clear up some misconceptions. Here are the top four financial hurdles that cause renters not to buy:

You Cannot Afford a Home

Well over 50% of renters consider this as a financial barrier to homeownership. However, study after study has shown us that there are major misunderstandings about what is required to purchase a home.

The biggest misconception is the amount of a down payment required. A recent survey revealed that 44% of respondents believed that a 20% down payment was required. In actuality, mortgages are available with as little as 5% down (and even 3% in certain situations).

The same survey showed that 30% of respondents believe that only individuals with ‘high incomes’ can obtain a mortgage. In actuality, there are several programs intentionally created to help moderate income families buy a home of their own (look at the FHA program for example).

You Do Not Have Good Enough Credit to Get a Mortgage

The survey mentioned above showed that 64% of respondents believe they must have a “very good” credit score to buy a home. Most people don’t realize that the average credit score for closed loans has actually dropped 24 points in the last two years. For more information on credit scores click here.

It’s Not a Good Time to Buy a Home

Determining when is the right time to buy a home from a pure financial calculation can be difficult. There are two elements of the cost of a home: the price of the house and the mortgage interest rate. When considering a purchase, you want to have at least an indication where prices and mortgage rates are headed. According to over 100 experts, house values are expected to increase by almost 20% between now and 2018. And Freddie Mac recently projected that mortgage rates would be as much as one full point higher by this time next year.

With both prices and interest rates projected to increase, now is the perfect time to buy a home.

It’s Cheaper to Rent than Buy

This is a myth that doesn’t want to die. However, Trulia recently reported that, in fact, buying is actually dramatically cheaper than renting. Here is what they said:

“Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. In fact, buying is 38% cheaper than renting now, compared with 35% cheaper than renting one year ago.”

Bottom Line

If you are even thinking about buying, get the facts from a trained professional. You may be pleasantly surprised by what you find out.

Displaying blog entries 1-4 of 4

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Photo of Summit Real Estate Real Estate
Summit Real Estate
The Bright Choice
330 Dillon Ridge Way, Suite 10
Dillon CO 80435
970-468-6800
800-262-8442
Fax: 970-468-2195

Allison Simson, Owner/Broker, is a licensed Colorado Real Estate Broker