Your House May Be High on the Buyer Wish List This Holiday Season

Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match.

Here are seven great reasons not to wait to sell your house this holiday season:

1. Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan.

2. Purchasers who look for homes during the holidays are serious ones, and they’re ready to buy.

3. You can restrict the showings in your house to days and times that are most convenient for you, or even select virtual options. You’ll remain in control, especially in today’s sellers’ market.

4. Homes decorated for the holidays appeal to many buyers.

5. Today, there’s minimal competition for you as a seller. There just aren’t enough houses on the market to satisfy buyer demand, meaning sellers are in the driver’s seat. Over the past year, inventory has declined to record lows, making it the opportune time to sell your house (See graph below):

6. The desire to own a home doesn’t stop during the holidays. Buyers who have been searching throughout the fall and have been running into more and more bidding wars are still on the lookout. Your home may be the answer.

7. This season is the sweet spot for sellers, and the number of listings will increase after the holidays. In many parts of the country, more new construction will also be available for sale in 2021, which will lessen the demand for your house next year.

Bottom Line 

More than ever, this may be the year it makes the most sense to list your house during the holiday season. Reach out to a local real estate professional to determine if selling now is your best move.

Source: Keeping Current Matters | The KCM Crew 11302020

6844 MONAN CV Memphis, TN 38119

Property Site: http://tour.remax-tennessee.com/home/WD74N4/6844-MONAN-CV-Memphis-TN-10089429

Rare Find - 3BR/2BA One Story Home in Cove in Germantown!~Large Entryway Welcomes You In~Formal Living Room + Great Room w/Lots of Natural Light~Huge Great Room w/Gas Fireplace~Spacious Kitchen w/Lots of Cabinet Space + Pantry~Wonderful Master Bedroom Suite w/Walk-In Closet + Full Bath~Two Additional Spacious Bedrooms + Full Bath~Laundry Closet & Half Bath Off Kitchen~New Carpet~Huge Fenced-In Backyard w/Large Patio & Additional Yard Space Not Fenced In~Side Load Carport~AND MORE!!

Bedrooms: 3

Bathrooms: 3

Square feet: 2,000

Price: $224,900

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6588937 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10089429

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Don’t Let Buyer Competition Keep You from Purchasing a Home

 

This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why. 

According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):

“The length of time spent searching for a home continues to grow.”

The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again.

Compared to this time last year, the NAHB report shows that buyers are having more success finding homes in their price range. However, it also notes the percentage of buyers saying they’re getting outbid when they make an offer has jumped from 15% to 27%. Buyers are indicating that bidding wars are a major obstacle to finding their dream home (See graph below):

If this is a challenge you’re up against in your home search, you’re not alone. Feeling stuck in the process can be frustrating, but if there’s ever been a year to power through, this is the one. NAHB noted:

“Difficulties finding a home to buy will likely lead 20% of active buyers to give up until next year or later. That share is up from 15% a year earlier.”

Experts anticipate home prices will continue to rise into 2021, and the incredibly low interest rates we’ve seen this year are also forecasted to increase as the economy strengthens. Hopeful homebuyers who decide to hold off on their search until there’s less competition run the risk of finding a more expensive housing market when they start looking again. If affordability is a key motivator behind your decision to buy a home, this winter is still the best time to make it happen.

Bottom Line

Bidding wars may be one of the greatest challenges buyers face in today’s housing market, but they shouldn’t be a deal-breaker. Having the right expert on your side throughout the buying process will give you the advantage you need when it comes to finding the right home and making a competitive offer. If you’re ready to buy this winter, contact a local real estate professional to discuss how to position yourself for success.

Source: Keeping Current Matters | The KCM Crew 11232020

460 BRINGLE RD Unincorporated, TN 38019

Property Site: http://tour.remax-tennessee.com/home/GBDHQQ/460-BRINGLE-RD-Unincorporated-TN-10089093

Super Cute 3BR/2BA Home in Quiet, Country Setting~Huge, Open Great Room~Spacious Eat-In Kitchen w/Laundry Closet~Large Master Bedroom w/Full En-Suite Bath~Two Additional Bedrooms + Full Bath~Wood Laminate Floors & Tile Throughout~Huge Fenced-In Backyard~AND MORE!!

Bedrooms: 3

Bathrooms: 2

Square feet: 1,000

Price: $100,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6581442 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10089093

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Why Working from Home May Spark Your Next Move

 

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond.

While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low.

A recent study from Upwork notes:

“Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.”

To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home.

The same study also notes while 45.3% of people are planning to stay within a 2-hour drive from their current location, 41.5% of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now (See graph below):

In some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed:

“People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.”

Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, it’s time to connect with a local real estate professional to assess your evolving needs and determine your path together.

Bottom Line

This has been a year of change, and what you need in a home is no exception. Reach out to your trusted real estate professional today to make sure you have expert guidance on your side to help you find a home that fits your remote work needs.

Source: Keeping Current Matters | The KCM Crew 11162020

1537 BEAVER TRAIL DR Memphis, TN 38016

Property Site: http://tour.remax-tennessee.com/home/KJVUSV/1537-BEAVER-TRAIL-DR-Memphis-TN-10088650

Great 2BR/2.5BA Brick Home in Quiet Neighborhood~Spacious Eat-In Kitchen w/Lots of Cabinet Space~Large Great Room w/Fireplace~Half Bath Off Great Room~Both Bedrooms Up~Each Bedroom Has Private Full Bath~Laundry Room Up~Peaceful Backyard w/Patio & Rod Iron Gate Overlooking Water~HVAC is about 3 Years Old~Roof is About 5 Years Old~AND MORE!!

Bedrooms: 2

Bathrooms: 3

Square feet: 1,200

Price: $115,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6570307 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10088650

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

1734 MARBLE AVE Memphis, TN 38108

Property Site: http://tour.remax-tennessee.com/home/PG79U4/1734-MARBLE-AVE-Memphis-TN-10088218

Great 3BR/1BA Home w/Lovely Porch~Separate Living Room + Dining Room~Spacious Kitchen~Huge Fenced-In Backyard~AND MORE!

Bedrooms: 3

Bathrooms: 1

Square feet: 1,000

Price: $25,000

For more information about this property, please contact Jennifer Carstensen at 901-685-6000 or jennifer@livelovememphis.com. You can also text 6556701 to 67299 (Message and Data Rates May Apply, see terms and privacy policy).

See more listings at: jcarstensen.remax-tennessee.com

MLS ID: 10088218

https://www.facebook.com/jensellsmemphis https://twitter.com/livelovememphis https://www.youtube.com/c/jennifercarstensenmemphisrealestate

Rent vs. Buy: How to Decide What’s Best for You

 

According to the U.S. Census Bureau, median rent continues to rise. With today’s low mortgage rates, there’s great opportunity for current renters to make a move into homeownership that stretches each dollar a little bit further.

While the best timeline to buy a home is different for everyone, the question remains: Should I continue renting or is it time for me to buy? The answer depends on your current situation and your future plans, so here are some thoughts to help you decide if you’re ready to own a home of your own.

1. Rent Will Continue to Increase

This is one of the top reasons why renters decide to move because in most cases, rent will continue increasing each year. As noted above, the U.S. Census Bureau recently released its quarterly homeownership report, and as the graph below shows, median rent is climbing year after year. When you own a home, you’ll lock in your monthly payment for the life of your loan, creating consistency and predictability in your payments.

2. Freedom to Customize

This is a big decision-making point for many people who want to be able to paint, renovate, and make home upgrades. In many cases, landlords determine all of these selections and prefer you do not alter them as a renter. As a homeowner, you have the freedom to decorate and personalize your home to truly make it your own.

3. Privacy

When renting, your landlord has access to your space in case of an emergency. If you own your home, however, you’re the one to decide who can come inside. Given today’s health concerns around the pandemic, this may be a growing priority for you.

4. Flexibility for Relocation

If you’re renting, it may be easier to move quickly should you have a job transfer or simply decide it’s time for a change. When you’re a homeowner and need to sell your house, this might take a little more time. Today, however, with the housing market’s low inventory, this may no longer be the case. Homes are selling at a record-breaking pace, so you may have more flexibility than you think.

5. Building Equity

When you pay your rent, your landlord earns the equity the property gains. If you own your home, the benefits of your investment go directly toward your net worth. This is savings you’ll be able to use in the future for things like sending children to college, starting a new business, buying a bigger home, or simply downsizing to save for retirement.

6. Tax Advantages

When you own your home, there are additional advantages that work in your favor as well. You can deduct things like your property taxes and mortgage interest (Always make sure you check with your accountant to see which tax-deductible benefits apply to your situation). When you rent, however, the tax benefits are directed to your landlord.

Bottom Line

It’s up to you to decide if you’d prefer to rent or buy, and it’s different for every person. If you’d like to learn more about the pros and cons of each, as well as resources to help you along the way, contact a local real estate professional to discuss your options. This way, you can make a confident and informed decision with a trusted expert on your side.

Source: Keeping Current Matters | The KCM Crew