Hey, Millennial Homeowners!! It May Be Time to Sell
Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureaureport shows that the homeownership rate among Millennials is finally on the rise .
Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:
1. Equity Build-Up
Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions , in their Q2 2017 U.S. Home Sales Report revealed that:
“…homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.
The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.”
2. Projected Home Price Increases
If you just got married or just found out you are about to become a parent, you may have plans to move up a bigger home or perhaps move to a different area. Waiting to buy a more expensive home in this market probably doesn’t make sense. The experts contacted for the Home Price Expectation Survey are projecting home prices to increase by nearly 5% over the next year. Yes, your house’s price will increase but not as much as a home currently valued higher than yours.
Hey, Millennial Homeowners!! It May Be Time to Sell
3. Projected Interest Rate Increases
The Mortgage Bankers’ Association , Freddie Mac, Fannie Mae and the National Association of Realtors are each projecting mortgage rates to increase over the next year.
Higher PRICES + Higher INTEREST RATES = LARGER MORTGAGE PAYMENTS.
If you are lucky enough to be one of those Millennials who purchased a house in 2010 (or even later), now might be the perfect time to move up to the home of your dreams!
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.
Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, let’s meet up so I can help you take advantage of current market conditions!
Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups
The majority of states in the Midwest and South offer a lower cost of living compared to Northeast and Western states.
Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home.
The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.
Selling your home is a matter of competition in today’s real estate. You’re competing with other like minded sellers all fighting for the right offer at the right from an eager buyer.
Do Your Future Plans Include a Move? What’s Stopping You from Selling Now? Are you an empty-nester? Do you want to retire where you are, or does a vacation
California Prop 60 and Prop 90 Property Tax Transfer Rates
Home Buyer Demand Continues To Outpace Homes For Sale. The price of any item is determined by the supply of that item, as well as the market demand.
Inventory Drops Again, Sales Slow. Inventory of existing homes for sale dropped to a 4.3-month supply, marking the 25th month in a row of declines.
Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.
11 Tips Sellers Need When The For Sale Sign Goes Up 11 Tips Sellers Need When The For Sale Sign Goes Up. The sellers have decluttered, painted, made repairs and spiffed up the landscaping. The curb appeal is at its best. After the long process of getting...
3 Tips to Succeed in Today's Real Estate Market Here are 3 Tips to Succeed in Today's Real Estate Market. In today’s highly competitive real estate market, where inventory levels are not keeping up with the constant stream of buyer demand, there are steps...
Thinking of Selling? You Should Act NOW While Inventory Is Low If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We...
3 Questions to Ask Before You Buy Your Dream Home If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs...
5 Benefits To Homeownership That Should Be At The Top Of Your List 5 Benefits To Homeownership That Should Be At The Top Of Your List. Recently, Freddie Mac reported on the benefits of homeownership. According to their report, here are the five benefits...
Homeowners: Your Home Must Be Sold TWICE - Price To Sell In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the...