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Pricing

Found 10 blog entries about Pricing.

Keller, Southlake and Trophy Club homes for sale
Mortgage interest rates have risen over a quarter of a point in just the first two months of 2018,  and Freddie Mac's US Economic and Housing Market Outlook is projecting a steady increase of interest rates throughout the year,  Many suggest rates could reach 5% by the end of the year. Now those of us who have been around a while recognize 5% interest rates are still a "gift", having seen rates much higher in the past.  Several of us who were in the market in the mid to late 1980's even remember 12-14% rates.  Still each increase, especially when combined with increasing housing prices, bodes poorly for homebuyers sitting on the fence.

What impact will rising rates have on home values?

Just as in years past, I'm starting to hear some potential home

2,947 Views, 0 Comments

Southlake Housing Market Bubble

Are We In Bubble Territory?

Home values continue to rise across Dallas/Ft. Worth, as well as the nation.  And home buyers in Keller, Southlake, Colleyville and surrounding areas are starting to ask if we're entering another housing bubble.  Fair question.  It's certainly one you'd want to know the answer to if you're considering plunging into the housing market.  Zillow just reported that:

“National home values have surpassed the peak hit during the housing bubble and are at their highest value in more than a decade.”


So if you buy a home today, you may well be paying the highest price the home has sold for...   But are we in bubble territory?  The Zillow comment is correct; the Dallas/Fort Worth area has passed previous peak home

2,098 Views, 0 Comments

Where Are Roanoke Home Prices Headed

Where Are the Home Prices Heading in the Next 5 Years?

Today, many real estate conversations center on home prices in area cities like Roanoke, Trophy Club and the Alliance area and where they may be headed. That is why I like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Now keep in mind these are national numbers but it's projected home values will appreciate by 4.4% over the course of 2017, 3.4% in 2018, 2.8% in 2019, 2.7% in

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Keller Home Prices and Family Wealth

The Connection Between Home Prices & Family Wealth

 

How about earning a projected $43,000. increase in equity, before mortgage payments, on a $250,000. house over the next 5 years.... Considering an FHA downpayment is just 3.5% - $8750 to get in... Where else could you get that kind of return?

Over the next five years, national home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.  Southlake, Grapevine, Trophy Club,  and surrounding areas are expected to do even better. 

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple

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Southlake home seller advice

If Your Home Hasn’t Sold Yet… Check the Price!

The residential housing market has been hot. Home sales have bounced back solidly and are now at their second highest pace since February 2007. Demand has remained strong throughout the winter as many real estate professionals are reporting bidding wars with many homes selling above listing price. What about your house?

If your house hasn’t sold, it is probably because of the price.

If your home is on the market and you are not receiving any offers, look at your price. Pricing your home just 10% above market value dramatically cuts the number of prospective buyers that will even see your house. See chart below.

Impact of home price on visibility

Bottom Line

The housing market is hot. If you are not seeing the results you

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Experts Predict Price Appreciation to Slow

Some Highlights:

  • CoreLogic’s latest Home Price Index shows that prices rose by 7.1% across the United States year-over-year.
  • With mortgage interest rates rising in the short term, CoreLogic believes price appreciation will slow to 4.7% by this time next year.
  • 49 out of 50 states, and the District of Columbia, all had positive appreciation over the last 12 months, with the only exception being the state of Connecticut, which experienced a -0.5% appreciation.
480 Views, 0 Comments

Inadequate Inventory Driving Prices Up | Simplifying The Market

Inadequate Inventory Driving Prices Up

 

The latest Existing Home Sales Report from the National Association of Realtors (NAR) revealed a direct correlation between a lack of inventory and rising prices.

We are all familiar with the concept of supply and demand. As the demand for an item increases the supply of that same item goes down, driving prices up. We've certainly seen it play out in Keller, Southlake, Grapevine, Colleyville and Trophy Club for the last 4+ years.

Nationally, year-over-year inventory levels have dropped each of the last 18 months, as inventory now stands at a 4.0-month supply, well below the 6.0-month supply needed for a ‘normal’ market.

The median price of homes sold in November (the latest data

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2 Tips to Ensure You Get the Most Money When Selling Your House | Simplifying The Market

2 Tips to Ensure You Get the Most Money When Selling Your House

  

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

2 Tips to Ensure You Get the Most Money When Selling Your House | Simplifying The Market

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By

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Home Prices: Where Will They Be in 5 Years? | Simplifying The Market

Home Prices: Where Will They Be in 5 Years?

 

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 4.0% over the course of 2017, 3.2% in 2018 and 3.0% the next three years (as shown below). That means the average annual appreciation will be 3.24% over the next 5 years.

Home Prices: Where Will They Be in 5 Years? | Simplifying The Market

The

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Will Increasing Mortgage Rates Impact Home Prices? | Simplifying The Market

Will Increasing Mortgage Rates Impact Home Prices?

 

There are some who are calling for a decrease in home prices should mortgage interest rates begin to rise rapidly. Intuitively, this makes sense as the cost of a home is determined by the price of the home, plus the cost of financing that home. If mortgage interest rates increase, fewer people will be able to buy, and logic says prices will fall if demand decreases.

However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.

Here is a graph showing what actually happened:

Will Increasing Mortgage Rates Impact Home Prices? | Simplifying The Market

Last week, in an article titled “Higher Rates Don’t Mean Lower House Prices After All,” the Wall Street Journal revealed that a recent

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