NEW YEAR'S RESOLUTIONS AND... BLAH, BLAH, BLAH

So, 2017 is days away and you are contemplating your resolutions, right? Probably not that seriously, but statistics say 45% of Americans will make one or more resolutions for 2017. Guess how many of those people will actually keep them for a full 365 days? 8%. Only 8% folks! So why are we constantly pushing this whole "New Year's Resolution" thing? It's like we are setting ourselves up for failure from the get-go... Do you know the top 10 in Resolutions made? According to statisticbrain.com

1. Lose Weight (duh)

2. Get Organized (what about us who already are?!)

3. Spend less, save more (AKA, the smaller version of the American Dream)

4. Enjoy life to the fullest (Why are we not already doing this daily??)

5. Staying fit & healthy (isn't that already on this list?)

6. Learn something exciting (Ooooh that sounds fun!)

7. Quit smoking (every year for the rest of your life......)

8. Help others in their dreams (I feel like this came a little out of left field)

9. Fall in Love (Aww.. but can you RESOLVE to do this? Doesn't love... just... happen??)

10. Spend more time with family (come on, America. Do better EVERYDAY.)

Ok, ok. We've all heard these hundreds of times since the day we learned what New Years' resolutions were, but what if we worked toward something different; something concrete; something we could be proud to say we "DID" at the end of 2017? Do you already know what I'm talking about??? Answer: BUY A HOME (this is a real estate blog after all). 

What if you went to a lender in January? (Ask us, we know some really terrific ones). What if they told you exactly what you need to do in order to start looking at homes by February/March (or sooner!). What if you connected with an awesome real estate agent that helped connect you with homes listed by other agents, for sale by owners and even door knocked if you wanted something more specific that was NOT already on the market?  (Yes, we do THAT! We are awesome). What if you could have an offer accepted by March and move in by April? You wouldn't even have to hold on to your resolution for 12 months, you could knock it out in less than 5 months!

Take back the resolution power: Put an elliptical in the spare bedroom, build shelves for storage, host parties. create new memories with your family & friends... look, you just knocked out even more resolutions! Way to go!! 

Are you picturing it? Are you ready to start the process? Call us, we would love to get you into your dream home with a stress-free, seamless transaction from start to finish! Our experienced, knowledgeable and (most importantly) FUN team is ready to get you started (901) 410-8818. You can even start your search online HERE

PS. If your resolution is to GROW or DOWNSIZE, we are also really awesome at listing and selling homes. Just ask us how! Call 901-410-8818 or click here to find your home’s value!

Source: Holly Glatt, Licensed Assistant 122816

Top 5 Reasons You Should Not For Sale By Owner

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

• 51% on the internet
• 34% from a Real Estate Agent
• 9% from a yard sign
• 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money When Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Source: Keeping Current Matters | The KCM Crew 12282016

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

Christina Boyle, Senior Vice President and Head of Single-Family Sales & Relationship Management at Freddie Mac, explains another benefit of securing a mortgage vs. paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

Bottom Line

This holiday season, why not give yourself the gift of homeownership? Lock in your housing costs for the next 30 years and guarantee you are the one building wealth.

Source: Keeping Current Matters | The KCM Crew | 122216

Why You Shouldn’t Take Your House Off the Market During the Holidays

If you are one of the many homeowners who is debating taking your home off the market for the next few weeks, don’t! You will miss the great opportunity you have right now!

The latest Existing Home Sales Report from The National Association of Realtors(NAR), revealed that the inventory of homes for sale has dropped to a 4.3-month supply.

Historically, a 6-month supply is necessary for a ‘normal’ market, explained below:

There are more buyers that are ready, willing, and able to buy now than there have been in years! The supply of homes for sale is not keeping up with the demand of these buyers.

Bottom Line

Home prices are appreciating in this seller’s market. Making your home available over the next few weeks will give you the most exposure to buyers who will be competing against each other to buy it.

Source: Keeping Current Matters | The KCM Crew 122016

Americans Are on The Move

Some Highlights:

• For the 4th year in a row, the Northeast saw a concentration of High Outbound activity.
• Oregon held on to the top stop of High Inbound states for the 3rd year in a row.
• Much of this Outbound activity can be attributed to Boomers relocating to warmer climates after retiring.

Source: Keeping Current Matters /The KCM Crew 120916

4 Reasons to Buy Your Dream Home This Winter

As the temperature in many areas of the country starts to cool down, you might think that the housing market will do the same. This couldn’t be further from the truth! Here are 4 reasons you should consider buying your dream home this winter instead of waiting for spring!

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.2% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates are Projected to Increase

Your monthly housing cost is as much related to the price you pay for your home as it is to the mortgage interest rate you secure.

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage are currently at 4.08%. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way You’re Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage - either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Source: Keeping Current Matters /The KCM Crew 120516

New Home Sales Race to Keep Up with Demand

Source: Keeping Current Matters | The KCM Crew 120216