Luxury homes are “happening” now!
Considering a Luxury Home? Now’s The Time! If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.
The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer, or can be found at a discount.
Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.
Considering a Luxury Home? Now’s The Time!
The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.
But not all who are buying luxury properties have a home to sell first.
In a recent Washington post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:
“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”
The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs, and are looking to step into a luxury home… Now’s the time to list your house for sale and make your dreams come true.
Which Homes Have Appreciated the Most? Home values have risen dramatically over the last twelve months. The CoreLogic report broke down appreciation even…
The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors
The Connection Between Home Prices and Family Wealth. Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this...
Builder Confidence Hits 11-Year High Builder Confidence Hits 11- Year High. In many areas of the country, there are not enough homes for sale to satisfy the number of buyers looking to purchase their dream homes. Experts have long proposed that a ramp-up in new,...
Things to Consider When Selling Your Home. The housing crisis is finally in the rearview mirror as the real estate market moves down the road…
How Long Do Most Families Stay in Their Home? The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. Findings conclude one of the data points that has changed dramatically is the median tenure of a family in a home. As the...
Over Half of All Buyers Are Surprised by Closing Costs. Keep in mind that if you are in the market for a home above this price range. your costs could be
A real world view of the future of housing. Where Are Home Prices Heading in the Next 5 Years? Today, many real estate conversations center on housing prices and where they may be headed.
January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900.
Renters who become homeowners not only experience a significant increase in housing satisfaction but also obtain a higher satisfaction even in the same home in which they resided as renters.
Are You 1 of the 59 Million Planning to Buy This Year? According to a survey conducted by Bankrate.com, one in four Americans are considering buying a home this year. As a result, if this statistic proves to be true, 59 million people will be looking to buy a home in...
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.
US Housing Market Moving Buy Territory. The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.”
New Listing: 3073 Arlington Ave, Riverside – Ground Up Remodel Quiet and Serene, Remodeled in 2013. This home is simply beautiful! You're met with palms, green gardens and lush lawn. The front entry boasts an arts and craft inspired pergola protecting the entry from...
Historically, the choice between renting or buying a home has been a close decision.
Looking at the percentage of income needed to rent a median-priced home today (30%), vs. the percentage needed to buy a median-priced home (15%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you could use your housing costs to own a home of your own!
Homeowners have a much greater financial stake in their neighborhoods than renters. With the median national home price in 2015 at $223,900, even a 5% decline in home values will translate into a loss of more than $11,195 for a typical homeowner.
Real estate sales for zip code 92506, Riverside California were solid for January 2017. The biggest change is the number of homes listed for January 2017. That number increased 13.6% from 51 homes in January 2016 to 59 homes in January 2017
This is an Ikea and Target generation. They live minimally, much more so than the boomers. As a result, they don’t have the emotional connection to things that earlier generations did.