Pricing your property correctly demands more than pulling a few recent sales. Look around in your neighborhood. The number of signs and how long they have been there can tell you a lot.
Using an educated and successful agent will help you get your pricing and market analysis right. S/he will also be able to market your home to other agents, which will make a big difference in the exposure your home gets.
Make sure you get the basics right, such as using a yard sign to show that your home is for sale. Virtual exposure is also important, since over 80% of all home searches begin on the internet.
New tax credits, tax deductions, and tax laws complicate the process of selling a home, but having the right agent helps you wade through the maze. Pricing, staging, branding, and marketing need to come together all at once – another example of how a good realtor helps.
Not too many months ago, sales on distressed properties (short sales or foreclosures) made up a good number of the total real estate transactions each quarter.
Fortunately for homeowners (though not such good news for investors), that number has steadily decreased in recent months.
In fact, as you can see from the graphic below (compliments of KCM, based on data from the June 2014 Corelogic National Foreclosure Report), this past June was the 32nd consecutive month with year-over-year declines in national foreclosure inventory.
Right now, there are only approximately 648,oo0 homes in some stage of foreclosure. That’s down 35% from this time last year, and represents just 1.7% of all U.S. homes with a mortgage!
Take a look below to see which parts of the country are still experiencing higher levels of foreclosure distress, and which have recovered nicely.
With home prices and interest rates going up, investors may no longer have the great deals available to them that they had over the past 5 years. But we’re happy for all the homeowners who are recovering financially and are no longer in danger of losing their homes.
Mortgage interest rates are hovering in the low 4% range right now, but it’s not likely that they’ll stay there for long.
Below is a KCM graphic indicating where 30-year fixed mortgage rates have been over the last 18 months.
As for where interest rates will go over the next several months, no one can be certain – but here is what some experts are predicting: Read more…