Tuesday, December 12, 2017

The Truth About Homeowner Equity

A recent article from a reputable news source was titled: Here’s why some homeowners still can’t sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.
A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)
If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is “one of the main reasons why there are so few homes for sale.”
Here is a map showing the percentage of homes in each state which currently have significant equity:

Bottom Line

If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, contact Lowes Flat Fee who can help you determine if now is the time to list.

Story taken from "Keeping Current Matters".

Friday, December 8, 2017

Which Homes Have Increased In Value The Most?

Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 5.6%. CoreLogic, in their most recent Home Price Index Report, revealed that national home prices have increased by 6.7% year-over-year.
CoreLogic broke appreciation down ever further into four price ranges which gives a more detailed view than simply looking at the year-over-year increases of the national median home price.
The chart below shows the four tiers and each one’s growth from July 2016 to July 2017 (the latest data available).

It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor in determining how much it has appreciated over the course of the last year. Lower priced homes have appreciated at greater rates than homes at the upper ends of the spectrum, due to demand from first-time home buyers and baby boomers looking to downsize.

Bottom Line

If you are planning on listing your home for sale in today’s market, talk to Roger Lowe at Lowes Flat Fee Realty, who can explain exactly what’s going on in your area and your price range.

Story taken from "Keeping Current Matters".

Thursday, December 7, 2017

Beautiful Landscaped Home on 1 Acre

Beautiful landscaped home on 1 acre surrounded with white vinyl fence located in Triple Crown Subdivision south of Curry Junction at 3732N 2481E. The home is 2625 sq ft, 4 bedrooms, 2 1/2 baths, granite counters throughout, kitchen has breakfast bar, built-in oven, breakfast nook, and large formal dining area. Master bath has dual vanities, walk-in tiled shower, and large soaker tub. This home is a local builders personal home and is only 3 years old. Must see to appreciate.

You can also learn more about us at lowesflatfee.com.

Wednesday, December 6, 2017

More Americans Say Now Is A Good Time To Sell!

Recently released data from Fannie Mae’s National Housing Survey revealed that rising home prices were the catalyst behind an eight-point jump in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year.
Overall, 62% of Americans surveyed said that now is a good time to sell (up from 58%), while 26% of respondents said that now is not a good time to sell (down from 30%). The net score is the difference between the two percentages, or 36%.
According to CoreLogic, home prices are now up 6.7% over last year and 78.8% of homeowners with a mortgage in the US now have significant equity (defined as 20% or more).
As home prices have increased, more and more homeowners have realized that now is a good time to sell their homes in order to take advantage of the extra equity they now have.
At the same time, however, rising prices have had the exact opposite impact on the good-time-to-buy scale as many buyers are nervous that they will not be able to afford a home; the net score dropped 5 points to 18%.
Doug Duncan, Vice President & Chief Economist at Fannie Mae, had this to say,
“In the early stages of the economic expansion, home selling sentiment trailed home buying sentiment by a significant margin. The reverse is true today.
The net good time to sell share is now double the net good time to buy share, with record high percentages of consumers citing home prices as the primary reason for both perceptions. Such a sizable gap between selling and buying sentiment, if it persists, could weigh on the housing market through the rest of the year.”
Buyer demand continues to outpace the supply of homes for sale, which has driven prices up across the country. Until the supply starts to better match demand, there will be a gap between the sentiments surrounding buying and selling.

Bottom Line

If you are considering listing your home for sale this year, now is the time!

Story taken from "Keeping Current Matters".

Monday, December 4, 2017

Home Sales Expected To Increase Nicely In 2018

Freddie MacFannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.

As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.

Story taken from "Keeping Current Matters".

Saturday, November 18, 2017

Charming Single Level Home

 This charming, single- level home located at 139 Melrose Ave in Pocatello, has been beautifully remodeled. The bamboo flooring, architectural trim and moldings, and custom brick arch make the common living space fun and modern. It has a spacious bathroom with modern dual sinks and vanities, Great curb appeal with its new windows, vinyl siding, and mature trees. It is a fabulous home for first-time buyers or for retirees.

You can also learn more about us at lowesflatfee.com.  

Friday, November 17, 2017

Over 2900 Sq Ft Home

This beautiful home located at 5672 Bergman Ave. in Meridian has over 2900 Sq Ft with an open floor plan. Great Location in the Paramount Subdivision. 5 Bedroom 3 Bath Home.

You can also learn more about us at lowesflatfee.com.