How Natural Disasters and Low Inventory Impact Selling Your Home Today
How Natural Disasters and Low Inventory Impact Selling Your Home Today. That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!
In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said:
“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”
And this situation will be affected greatly by recent natural disasters. Yun continued by saying:
“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”
How Natural Disasters and Low Inventory Impact Selling Your Home Today
NAR, in their August 2017 Realtors® Confidence Index , indicated that:
“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”
The only challenge to today’s market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is only a 4.2-month supply of inventory, which is down from 4.5 months one year ago.
Bottom Line
With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps.
Call Us Now To Sell Your Home…
Office: 909.985.9392 or Text Us: 714.657.6634
[gravityform id=”15″ title=”true” description=”true”]
Cost of "Roughing It" = $46Million
Always wanted our own cabin... Colorado Ranch Sold for $46.5M — Highest Sale in U.S. This Year By: Diane Tuman, Zillow Content Manager | April 28, 2010 Share In what is speculated to be the highest price paid for residential real estate this year, the Wall Street...
Jesse & Sandra Split = New Beach Front Listing = Sunset Beach, CA = Just Shy of $6MM
Sandra Bullock and Jesse James Selling Their Sunset Beach, CA Home As anticipated, estranged Hollywood couple Sandra Bullock and Jesse James are selling their California beachfront home, but you won’t find it in the Multiple Listing Service (MLS) or any other site...
Short Sales…Discrete, Dignified, Graceful Exit…Alternative to Foreclosure!
As real estate professionals we have spent the last several years helping homeowners avoid foreclosure in this ever changing economy.... We can finally say____Washington DC is waking up! The major networks and newspapers are advertising Short Sales.....could it be...
Recourse and Non Recourse Loans…HAFA And The Short Sale
If you are a homeowner in the state of California you will want to understand the difference between Recourse and Non Recourse Loans. An example of a Non Recourse loan would be if you purchased the home and did not refinance or take out any type of Home Equity Line of...
Short Sales Successful When There Is Negative Equity In Property
Homeowners are facing Negative Equity in nearly every state in America. Negative equity is simply defined when you owe more on the property than it would sell for in this current market.
NAR Jeff Lischer Executive Talks About HAFA Short Sales
This is great news from the organization that represent Realtors nationwide. Listen to Jeff Lischer Top NAR Executive Talk Candidly About HAFA Short Sales
Arnold To The Rescue…Californians Get Short Sale Tax Break…SB 401
Mr. Schwarzenegger Has signed California SB 401 providing Californians a mirrored tax break (IRS Mortgage Forgiveness Debt Relief Act of 2007) that saves residents who short sold their primary residence in 2009 or are planning to through 2012. This much needed tax...
SB 401…More News…Great Relief for Tax Payers and Short Sales
Check this out...according to Sacremento Bee (april 9, 2010)...The Governator is going to sign SB 401 as soon as this week. SB 401 is "lock step" in line with IRS Mortgage Debt Relief Act of 2007 forgiving any tax liabilities afforded Californians that took advantage...
Check This Out…Daily Bulletin Highlights Short Sales, HAFA and Kris & Kim Darney
Real estate specialist Kris Darney on Thursday walks through a Rancho Cucamonga home whose owners are hoping it will be purchased in a short sale instead of being lost to foreclosure. (Mediha Fejzagic DiMartino/Staff Photographer) Read...
We received This Email from Wells Fargo…They Want To Sell Short Sales!
April 2010 The spring selling season is upon us and opportunities abound to boost the housing market and get it on a positive track. We have the advantages of low interest rates, affordable housing stock and the homebuyer tax credits that expire within just a few...
Governer Schwarzenegger Supports Short Sales…Will Sign CA SB 401 to Relieve State Tax Penalties
California SB 401is on its way to The Governator's office for a signature...according to his staff. This law protects California Home Owners against taxation on presumed "gains" from Short Sales. What do we mean by this? Homeowners that sold their homes via Short Sale...
Short Sale Questions…Kris & Kim Darney Answer What's HAFA
Kris and Kim Darney answer most frequently asked questions from homeowners that are considering a Short Sale. As of 2009 more than 11.3 million residential properties fell into negative equity. That equals 24% of all homes in America with a mortgage. Consider walking...
More on HAFA…Kris & Kim Darney Talk About Benefits to Home Owners Doing Short Sales
Kris and Kim Darney highlight HAFA….Home Affordable Foreclosure Alternative rolled out April 5th by our Treasury Department as an extension of HAMP….Home Affordable Modification Program. Some of the highlights of HAFA include an incentive of up to $3000 for relocation...
Jeff Lischer…NAR Representative Explains HAFA…Short Sales…See Kris & Kim Darney Blog
Kim and I are excited to run across this video on HAFA from Jeff Lischer, communications Representative for National Association of Realtors...Great Video...15 minutes...but worth it if you are in need fo assistance.
Correction…HAFA Does Help Home Owners with 2nd and 3rd Liens
In a Recent article in the Inland Valley Daily Bulletin...the article stated that home owners with 2nd liens will not be helped under HAFA... Actually...HAFA really comes to the rescue of the Home owner with 2nd liens...call us and we can talk about it.
Feds Help with HAFA…Kris & Kim Highlighted
Real estate specialist Kris Darney on Thursday walks through a Rancho Cucamonga home whose owners are hoping it will be purchased in a short sale instead of being lost to foreclosure. (Mediha Fejzagic DiMartino/Staff Photographer) Read...
CNBC Talks About HAFA…Short Video
Hafa and Short Sales...Short Sales are in the news!
Barney Frank Get's It…Support Him in His Efforts to Help Our Homeowners!
Congressman Barney Frank (Mass.) gets our kudos for taking the time to understand the misdeeds of the banks...2nd lien holders in this case. Congressman Frank is sending out an ultimatum to Bank of America, Citigroup, Wells Fargo and JP Morgan Chase. Mr. Frank is a...