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Archive for December, 2016|Monthly archive page

So Long, Sellers: A Buyer’s Market’s on the Way

In Buying a Home, Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on December 13, 2016 at 5:44 pm

The current seller’s market in real estate is expected to shift to a buyer’s market within three years, according to the October Zillow® Real Estate Market Reports. The shift will be fueled by slowing appreciation; according to the Zillow Home Value Index (ZHVI), home values have risen 6.2 percent in the last year to a median $191,200, a rate that will fall by approximately half by October 2017.

 “The housing market has been favoring sellers for the past few years,” says Zillow Chief Economist Svenja Gudell. “Sellers in the current housing landscape often have the luxury of listing their home ‘as-is’ without fixing it up or with only minimal window-dressing, since demand for homes has been high and inventory low. It’s common for sellers to receive multiple bids, and, in the hottest markets, sell for over asking price, but these conditions will change in the future. As the number of homes for sale increases and home value appreciation slows, we expect the market to meaningfully swing in favor of buyers within the next two to three years.”

 Experts surveyed in the latest Zillow Home Price Expectations Survey also expect the shift, either by 2018 or 2019.

 For more information, please visit www.zillow.com. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Do you have real estate questions?   Contact Connie Vallone at (713) 249-4177 or connie@knowsrealestate.com or visit www.houstonenergycorridorhomes.com  or  www.vallonehomes.com.

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When Is the Right Time to Sell Your Home?

In Home Values, Houston Energy Corridor, Houston Real Estate Agent, Real Estate Investment, Selling your home on December 9, 2016 at 4:30 pm

If you are like so many homeowners today, you are not living in your “forever home” right at the moment. Rather, the home you currently reside in is a stepping stone to get you that much closer to your dream house.

 It is likely you are always keeping one eye on your home and the other eye on the housing market, trying to figure out when the time is ripe to sell and move to the next home. Here’s how to know for sure when it is a good time to sell your home. 

When your current home is no longer a good fit for your needs – Stepping stone homes are bought for a specific reason at a specific time in life. Maybe you moved because you are expecting a baby and needed more room. Conversely, maybe your “baby” just went off to college and suddenly your formerly cozy home feels like an echoing cavern. Perhaps you just got a job on the other side of town and the commute is killing you, or now you work from home and you discover you hate your neighborhood. Regardless of why, when your home no longer works for your situation in life, this is a clear sign it is a good time to think about selling.

 When the market favors the seller – If there is one thing you can count on the real estate market to reliably deliver, it is shifting trends. Some years, it will be a buyer’s market and in other years, it will be a seller’s market. If you’ve been feeling like a move might be welcome and the real estate market just happens to be favoring sellers at the moment, you might as well throw your house in the ring and see what you reel in!

Your mortgage is paid – Once your mortgage is paid off in full, every dollar you earn over what you paid for it is pure profit. Very few people in this country today get to enjoy the great feeling of being debt free, but if you sell your home after it is paid off and pocket the profits, you can be one of them.

Your current interest rate is high – Right now, interest rates on mortgage loans are at historic lows. If you are currently carrying a mortgage on a home that has a high interest rate attached (and especially if a refinance won’t fix this adequately), then now is a good time to sell.

 At this point in time, real estate is scarce and homes are in demand. Interest rates are low and the market is strong overall. Whether you choose to sell and just rent for a while or you decide to turn around and buy another home at a low interest rate, it is a win-win to sell and get out of that higher rate.

Every single day, homeowners become former homeowners for all kinds of different reasons. There are no invalid reasons to sell your home; there are only the reasons why now is the right time for you.

 This was originally published on RISMedia’s blog, Housecall. Visit the blog daily for housing and real estate tips and trends. RISMedia Tracking Snippet *** Do Not Remove *** End RISMedia Tracking Snippet

Reprinted with permission from RISMedia. ©2016. All rights reserved.

Do you have real estate questions?   Contact Connie Vallone at (713) 249-4177 or connie@knowsrealestate.com or visit www.houstonenergycorridorhomes.com  or  www.vallonehomes.com.