Real Estate Blog

Market Updates: Family Wealth Grows As Home Equity Builds

With residential real estate values rising quite substantially in most parts of the country over the last few years, many homeowners are seeing a major increase in their family’s wealth as equity continues to build in their house.

A recent study by the Joint Center of Housing Studies at Harvard University revealed that home equity grew nicely last year and has grown dramatically over the last five years…

Buyers looking today may not see the same build-up in equity but could still do quite well.

Let’s assume you went into contract in the next six weeks and closed on a $250,000 home in January. If we take the house value projections from the last Home Price Expectation Survey, here is how your equity would grow over the next four years:

…

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Neighborhood Monthly Report (October 2015): Arden Heights

  This October 2015 there were 12 homes sold in Arden Heights. The highest selling price was $539,900, while the lowest selling price was $235,000.   Here is a list of all the addresses sold in Arden Heights this October:

1. 101 Shotwell Avenue
2. 327 Sheldon Avenue
3. 256 Rolling Hill Green
4. 147 Dover Green
5. 33 Hampton Green
6. 246 Carlyle Green
7. 190 Rolling Hill Green
8. 86 Ilyssa Way
9. 232 Aspen Knolls Way
10. 325 Aspen Knolls Way
11. 120 Emily Lane
12. 520 Wainwright Avenue

As of today, October 31st.  2015, there are 24 active properties in Arden Heights. The highest listing price of these properties is $625,000, while the lowest is $179,000.

Here is a list of all the addresses of the active listings in Arden Heights:

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Market Updates: Sales Up In (Almost) Every Price Range

The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure.

Only those homes priced under $100,000 showed a decline (-7.7%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength of the market.

Every other category showed a minimum increase of at least 5.6%, with sales in the $250,000- $500,000 range up 16.9%!

Here is the breakdown:

What does that mean to you if you are selling?

Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your…

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Market Updates: Baby Boomers Finding Freedom In Retirement

Within the next five years, Baby Boomers are projected to have the largest household growth of any other generation during that same time period, according to the Joint Center for Housing Studies of Harvard. Let’s take a look at why…

In a recent Merrill Lynch study, “Home in Retirement: More Freedom, New Choices” they surveyed nearly 6,000 adults ages 21 and older about housing. 

Crossing the “Freedom Threshold”

Throughout our lives, there are often responsibilities that dictate where we live. Whether being in the best school district for our children, being close to our jobs, or some other factor is preventing a move, the study found that there is a substantial shift that takes place at age 61.

The study refers to this change as “Crossing…

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Market Updates: The #1 Reason to List Your House Today

If you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years.

The graph below shows the significant increase in foot traffic experienced this year compared to 2014.

The latest Existing Home Sales report shows that there is currently a 5.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below August 2014 numbers.

The chart below details the year-over-year inventory shortages…

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Get a Taste of the Halloween SPIRIT with the Frappula!

  It's the Halloween drink from your nightmares that tastes devilishly good! Starbucks is known for releasing seasonal drinks around specific holiday's but this one seems to be everyone's favorite!   "This blended beverage is made with white chocolate sauce, milk and ice blended together, and layered between mocha sauce and a dollop of whipped cream. A drizzle of raspberry syrup oozes from the rim, which is finished with whipped cream on top." - the official Starbucks site.    This drink is available only until October 31st, but if you love the drink and want more of it don't fear! You can order this drink and many other drinks at Starbucks by recipe any time after the drink is no longer available! In fact, Starbucks has a whole secret…

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Market Updates: Picking a Real Estate Agent through Facebook

According to a joint study released by Google and the National Association of Realtors, 2 of 3 people searching for a prospective real estate professional research them“extensively online prior to working with them". And, that number is probably increasing every day.

Are social media channels such as Facebook really a good place to gather information about an agent before using them? If so, what should you look for?

There is a plethora of information on any subject available on social media sites such as Facebook. A recent study by the Pew Research Center revealed that 63% of Americans now even get their news from Facebook (up from 47% in 2013).

It is no different for both buyers and sellers of real estate. Yes, Facebook is a good place…

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Market Updates: New Home Sales Surge!

According to the latest report from the US Census Bureau and the Department of Housing and Urban Development, newly constructed home sales jumped 5.7% month-over-month and 21.6% year-over-year to an annual pace of 552,000.

Many buyers are looking to the new homes market to make up for the lack of existing home sales inventory. National Association of Home Builders Chief Economist David Crowe explains:

"Today's report indicates the release of pent-up housing demand as the overall economy strengthens, consumer confidence grows and mortgage interest rates remain low. The housing market should continue to move forward at a modest but more persistent pace throughout the rest of 2015."

Regionally, the Northeast led the way with a 24.1%…

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Halloween Cocktails to Spook Up Any Occasion!

These criminal cocktails will take your Halloween festivities to the next level!

1. Black Velvet

You'll Need:

• 3 ounces of stout beer (Guinness)
• 3 ounces of dry sparkling wine

Directions:

Pour the stout into a large champagne flute. Slowly top with the sparkling wine and stir gently.

2. Chocolate Malted Martini

You'll Need:

• 3 tablespoons of vodka
• 1 tablespoon of chocolate syrup
• 1 tablespoon of chocolate malt powder 
• 1 tablespoon of half and half
• 2 dashes of chocolate biters

Directions:

In a martini shaker filled with ice, mix together all of the ingredients listed above. Shake vigorously, and strain into a glass.

3. Dark and Spooky

You'll Need:

• 1/2 cup of ginger beer
• 2…

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Market Updates: Why You Should Hire A Professional When Buying A Home!

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!

You Need an Expert Guide if you are Traveling a Dangerous Path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and ready for you to move in to can be tricky. An agent listens to your wants and needs, and can sift out the homes that do not fit within the parameters of your “dream home”.

A great agent will also have relationships with mortgage professionals and other experts that you…

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