Market Rebound Continues: Home Sales JUMP in May!

Market Rebound Continues: Home Sales Jump in MayThe markets continue to show signs of recovery. According to the latest Commerce Department monthly report, single-family home sales rose 16.6 percent to a seasonally adjusted annual rate of 676,000 in May. The May rate is 12.7 percent higher YoY.

According to the report, home sales were up in all four regions: 6.8 percent in the Northeast, 9.5 percent in the Midwest, 0.3 percent in the South and 1.4 percent in the West.

Here’s the market breakdown:

New-Home Sales: 676,000
For-Sale Inventory: 318,000
Months’ Supply: 5.6 months
Median Price: $317,900

What the Industry’s Saying

“The May sales numbers are in line with rising builder sentiment,” said Chuck Fowke, chairman of the National Association of Home Builders (NAHB) and a custom home builder from Tampa, Fla. “With home building considered an essential business, this solid sales report is another indicator that housing is leading the economic recovery.”

“In a sign of growing demand fueled in part by record low mortgage rates, builder price incentives eased in May and home prices registered an upturn,” said NAHB Chief Economist Robert Dietz. “Sales are 1.9 percent higher on a year-to-date basis and our NAHB Home Building Geography Index points to construction gains in lower density markets like smaller metros and large metro exurbs in the months ahead.”

RISMedia 2020

 


Posted on June 24, 2020 at 1:44 pm
Amy Weltner | Posted in Home Buying, Home Selling |

June – Minute on the Market


Posted on June 11, 2020 at 5:32 pm
Amy Weltner | Posted in Home Buying, Home Selling |

Five Quick Ways to Brighten Any Room

Want to brighten up a room, but don’t have the time to paint or budget to add a window? Consider the following easy fixes:

Hang a mirror. Hang a mirror (or lean a large one against a wall) to toss light around your room and open it up.

Add metallics. Golds and silver accents will make any space sparkle. Think picture frames, fixtures, lamps and decorative items like vases or candle holders.

Freshen with flowers. A pop of floral can brighten a room, especially when that floral is fresh. Add a bouquet to a table for a bit of vibrancy.

Think yellow or white. While light colors may show dirt and grime, white and yellow accents can brighten an area, fast. Add white and yellow throw pillows, swap out the duvet on your bed, or hang a new set of curtains.

Declutter. Last, but not least, a clutter sweep will help brighten your space up. Stack books, toss old magazines, fold the laundry and nix the knick knacks, and your home will thank you for it.


Posted on June 11, 2020 at 5:27 pm
Amy Weltner | Posted in Home Decorating, Home Selling |

3 Major Steps to Prepare for a Move

While there is a lot of excitement that comes with moving into a new home, there can also be a great deal of stress. Packing up your entire life and moving it somewhere else can seem overwhelming, but if you have a plan, it can seem a great deal more manageable. Here are the 3 major steps to take to prepare for a move and reduce the stress that can come with it.

Inventory Your Items

While this can seem like a daunting task, taking an inventory of every item in your home will save you a great deal of stress in the future. Whether you do a move entirely on your own or you hire a moving company, it is very important to have all of your items documented. If you sort your items by room and then document them as such and pack accordingly, you will be able to unpack your items by room into your new home in an organized way, ensuring you aren’t missing any items.

Box It All Up

Once you have inventoried all of your items, you will then begin boxing up what you can. Many hardware and home improvement stores have affordable boxes but checking on local Facebook pages for someone trying to get rid of moving boxes could save you a few dollars. Once you have your boxes, it is key to pack by room. This will help if you follow your inventory list, ensuring every item gets packed. Label your boxes by room to make moving in to your new home a breeze.

Renting a Moving Truck

If you’ve never rented a moving truck before, it can be difficult to guess what size truck you will need to transport all your goods. Thankfully, many sites offer ‘calculators’ that are easy to find with a simple search and allow you to enter your box and furniture information and give you a recommendation on what size will best fit your needs. While packing your stuff up is often something movers want to do on their own to keep track of their items, sometimes hiring movers for the truck portion of the move can take a great deal of weight, both physical and metaphorical, off of your shoulders. By hiring movers to load up your truck, you will save the stress on your body and also gain the experience of movers who have packed trucks before. Many people who have moved recommend hiring movers for the loading and unloading portion of the move, even if you want to do everything else DIY.


Posted on March 4, 2020 at 5:16 pm
Amy Weltner | Posted in Home Buying, Home Selling | Tagged , , , , , , , , , ,

What is a Zestimate® and is it correct?

To quote Zillow’s website; “The Zestimate® home valuation model is Zillow’s estimate of a home’s market value. The Zestimate incorporates public and user-submitted data, taking into account home facts, location and market conditions. It is not an appraisal.”

So, what does that mean?  

Simply, this is Zillow’s tool to give sellers an IDEA of what their home might be worth.  I use the term might very loosely here… keep reading.

What is it based on? 

Zillow states that the “accuracy depends on the amount of data we have for the home”.  How do they get this data?  From YOU!  From every homeowner that has logged into their site and put in the information about their home.  Yes, they pull tax records and some Multiple Listing System (MLS) data, but they ask uses on their site to up date their personal home information themselves in order to get more accurate results.

So… does this work?  

Maybe… maybe not.  Do YOU know the true architectural style of your home?  Do you know the building amenities that give the most value?  If you are updating your facts to show a new roof, are you sure your neighbor is doing the same? What if they take for granted that everyone has an updated kitchen?  Or what if they think theirs is updated because they remodeled when they moved in…. 10 years ago?

Now what?

Confused? I am not surprised. Hang on… I have a solution.  Call your local realtor – me.  Zillow states: “We recommend that real estate agents and other professionals gain a basic understanding of how the Zestimate is calculated and how to read the Zestimate data accuracy table. This will help them explain to their clients why the Zestimate is a good starting point and historical reference, but should not be used for the final pricing of a home.”

Call me and let’s walk through your home together – show me what you have an have not done – what you love and what you would change if needed.  Then, let’s compare them to homes I have seen in your local neighborhood and others that have recently sold.  Let me pull comparable properties and property tax records, compare tax assessments and lot sizes as well as home amenities, condition and location.  A Zestimate cannot do all of those things… but I can.  Let me be your trusted, local real estate professional.

 

 

Zillow information found at: https://www.zillow.com/zestimate/

 


Posted on December 18, 2019 at 3:48 pm
Amy Weltner | Posted in Home Selling | Tagged , , , , , , , , , ,
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