The Number 1 Reason to Sell Now… Not Next Spring is…

January 25, 2017 by CENTURY 21 Ed Pariseau, Realtors

The Number 1 Reason to Sell Now… Not Next Spring is…

SUPPLY and DEMAND!

The Number 1 Reason to Sell Now… Not Next Spring is...

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Information Supplied by: Keeping Current Matters

Americans Believe Real Estate is Best Long-Term Investment

August 3, 2016 by CENTURY 21 Ed Pariseau, Realtors

Americans Believe Real Estate is Best Long-Term Investment

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“Which would be the best way to invest money you did not need for more than 10 years?”

Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD’s) came in second with 23%. The chart below shows the full results:

Americans Believe Real Estate is Best Long-Term Investment

Sterling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.

“Houses are tangible. You can physically see and feel the product. So you know where your money is going.”

July’s poll also found that for the “26th consecutive month, Americans’ sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation.”

Bottom Line

There are several reasons, both financial and non-financial, as to why homeownership makes sense. It is nice to see that Americans have returned to a belief in homeownership as the best investment.

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Information Supplied by: Keeping Current Matters

74% of Households in the US Now Have Significant Equity!

June 29, 2016 by CENTURY 21 Ed Pariseau, Realtors

74% of Households in the US Now Have Significant Equity!

CoreLogic’s latest Equity Report revealed that 92% of all mortgaged properties are now in a positive equity situation, while 74% now actually have significant equity (defined as more than 20%)! The report also revealed that 268,000 households regained equity in the first quarter of 2016 and are no longer under water.

Price Appreciation = Good News for Homeowners

**Frank Nothaft, CoreLogic’s Chief Economist, explains:**

“In just the last four years, equity for homeowners with a mortgage has nearly doubled to $6.9 trillion. The rapid increase in home equity reflects the improvement in home prices, dwindling distressed borrowers and increased principal repayment.

“These are all positive factors that will provide support to both household balance sheets and the overall economy.”

**Anand Nallathambi, President & CEO of CoreLogic, believes this is a great sign for the market in 2016 as well, as he had this to say:**

“More than 1 million homeowners have escaped the negative equity trap over the past year. We expect this positive trend to continue over the balance of 2016 and into next year as home prices continue to rise.

Nationally, the CoreLogic Home Price Index was up 5.5% year over year through the first quarter. If home values rise another 5% uniformly across the U.S., the number of underwater borrowers will fall by another one million during the next year.”

Below is a map illustrating the percentage of households in each state with significant equity:

74% of Households in the US Now Have Significant Equity!

Many homeowners with more than 20% equity in their home would be able to use that equity as a down payment on either a larger home or even a retirement home.

Bottom Line

If you are one of the many Americans who are unsure of how much equity you have in your home, don’t let that be the reason you fail to move on to your dream home this year!

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Information Supplied by: Keeping Current Matters

Selling Your Home? Make Sure the Price Is Right!

April 25, 2016 by CENTURY 21 Ed Pariseau, Realtors

Selling Your Home? Make Sure the Price Is Right!

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered their price. His article, Listing Price, Time on Market and Ultimate Selling Price, published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.

Selling Your Home? Make Sure the Price Is Right!

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Let’s get together to discuss what is happening in the housing market and how it applies to your home.

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Information Supplied by: Keeping Current Matters

Common Questions Potential Home Buyers May Ask

April 19, 2016 by CENTURY 21 Ed Pariseau, Realtors

Common Questions Potential Home Buyers May Ask

After seeing your home online or during an open house, potential home buyers may have additional questions for you, the homeowner. Being knowledgeable and honest with potential buyers may expedite your home’s sale. Below are five questions you should be able to answer during the selling process.

What is the status of…?
Although you’ve probably listed the vital information about your home’s integrity in accordance with state law, there’s some information that may be absent from those forms and of general interest to potential buyers. They will likely want to know the quality and age of items such as your roof, appliances, plumbing, windows, central heating and cooling, and garage doors. Research your home’s various parts to know this information for potential home buyers.

Has your home ever had a pest problem?
Potential buyers may want to know if your home is prone to infestation by rodents, insects, or any other irksome little creatures. You’ve most likely managed any pest problems before putting your home on the market, but it’s important to give an honest account of your pest history if asked.

How’s the neighborhood?
This question is intentionally open-ended to let you share any pertinent information about the neighborhood that potential buyers should know. Buyers may be curious about neighbors, schools, restaurants, entertainment, safety, and other general facts. Be sure to highlight the stellar aspects of the neighborhood and shift emphasis away from any negatives.

Where is…?
Certain features of your home may be harder for buyers to locate. They may want to inspect items such as the water heater, sprinkler controls, thermostat, pool filter, and circuit breaker. Show potential buyers where these can be found and how they’re maintained.

Is there anything else I should know about this house?
This is your chance to share all the information you wish you’d had known when you moved in or things that may not have been covered yet. You could share things like when trash day is, the nearest hospitals, the best way to care for your lawn and garden, or which neighborhood dogs are your favorite.

Be ready to answer any question a potential home buyer asks. If you don’t know the answer right away, be honest about it and be sure to get back to them promptly.

Up Your Winter Curb Appeal

January 15, 2016 by CENTURY 21 Ed Pariseau, Realtors

Up Your Winter Curb Appeal

Regardless of the season, your home should make a good first impression on potential home buyers. Here are some helpful tips for boosting your home’s curb appeal during the winter months.

Light It Up
With less sunshine and shorter days, adding outdoor lighting to your home will help illuminate it and could make it more inviting to buyers. Lighting the pathway to your front door and highlighting any features unique to your home may increase your home’s curb appeal.

Plan for Snow
Depending on where you live, you may get some (or quite a bit) of snow during winter. Your home’s aesthetic could benefit from having a neatly cleared driveway and walkway. It may also be helpful to avoid piling up shoveled snow into unsightly mounds while clearing it. Try using salt to melt snow and checking weather forecasts to prepare for heavy snowfall.

Add Winter Plants
Don’t let winter weather mean the end of your garden. Adding evergreen or winter-blooming plants can inject color into the white and gray winter landscape and make your home stand out. Flowers such as witch hazel, winter jasmine, and pansies can thrive and add color all winter.

Eliminate the Ice
Ice can be a problem in terms of both safety and curb appeal. Icy grounds can be a slipping hazard and hanging icicles can detach at any moment. Moreover, sharp and dangerous looking icicles attached to your home’s roof and gutters don’t make your home seem inviting to home buyers. Be sure to salt your walkway and safely clear ominous looking icicles.

Update Your Door
A front door that appears to be in need of a fresh coat of paint or refurbishing can deter home buyers. Your front door should be in pristine condition, and in the winter months it could benefit from a splash of vibrant color to juxtapose the sparsely colored winter season.

Don’t let winter freeze up your home’s curb appeal. Follow these helpful tips and you may make your home as appealing now as it is the rest of the year.

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Moving Day Mistakes That May Slow You Down

January 11, 2016 by CENTURY 21 Ed Pariseau, Realtors

Moving Day Mistakes

Congratulations!

You’ve found a new home. Now it’s time to move in. One of the most important components of a successful move may be staying organized. Avoid making these common moving mistakes and you are likely to have a smoother move.

Packing boxes haphazardly

You may think that putting everything into boxes as fast as you can is easier, but in reality it is likely to make unpacking a headache. How will you find your silverware without opening up every single box? Pack items by room and label them accordingly so movers can drop them off in the appropriate rooms.

Hiring movers without researching

Do your research before choosing a moving company. Read reviews and ask for referrals from friends to decrease the likelihood of lost, stolen, or damaged belongings.

Forgetting to set up utilities beforehand

Call your providers a month before your move. Schedule to have your utilities set up in advance so you don’t have another task on your to-do list on moving day.

Underestimating the importance of measurements

Can your living room sofa fit through the front door? Take measurements of doorways beforehand to make sure all your large pieces of furniture can fit. If the front door isn’t an option, measure other entry ways, such as the back door or garage.

Not packing a “just in case” kit

Pack a small suitcase with clothes and belongings you’ll need to get through one week. If anything comes up that delays your movers significantly, you may be relieved to have the essentials on hand.

Avoid these mistakes and your move may just fly by, stress-free. Looking for more tips? Use our Ultimate Moving Checklist.

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BENEFITS OF WORKING WITH A REAL ESTATE AGENT

October 7, 2014 by CENTURY 21 Ed Pariseau, Realtors

BENEFITS OF WORKING WITH A REAL ESTATE AGENT

Choosing a house to call a home is one of the most important decisions people make. Working with a real estate agent can make the home buying or selling process easier and more efficient. We spoke with agents affiliated with the CENTURY 21^® brand to find out why you should work with an agent.

What is one reason why a buyer should work with a CENTURY 21 Agent?

–Helen Hunt, CENTURY 21 Homes and Investments: “I can have your home marketed internationally. We are the best real estate brand in the country.”

–Sarah Gravelle, CENTURY 21 Real Estate Center broker in Puget Sound: “Access to resources at our ready – CENTURY 21 Real Estate can assist a client locally or around the world. Free phone apps allows the client to see what is on the market as it changes, drive neighborhoods, search and share listings and questions with their broker.”

–Jerry Tuscano, CENTURY 21 Elite, New Jersey: “Forbuyers we have an easy to use, full featured mobile app that we can share with a buyer in less than a minute and can start being used right away! Complete with a mortgage calculator and area stats and pictures of area where house is located.”

What is one reason why a seller should work with a CENTURY 21 Agent?

-Helen Hunt, CENTURY 21 Homes and Investments: “Professional, trained, serious about your future.”

-Sarah Gravelle, CENTURY 21 Real Estate Center broker in Puget Sound: “All the unmatched tools and forms of communication to expose the seller’s property to the largest market provide great value.”

-Jerry Tuscano: CENTURY 21 Elite, New Jersey “For sellers we have the best Marketing platform at our fingertips that can be also be used on a mobile device. Marketing their property in an instant.”

Make informed decisions faster so that you can start enjoying your new home sooner. CENTURY 21 Agents have the marketing expertise, tools, resources, and research to help you make a house a home.

The Number 1 Reason to Sell Now… Not Next Spring is…

SUPPLY and DEMAND!

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2016:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Information Supplied by: Keeping Current Matters

Share this:

Americans Believe Real Estate is Best Long-Term Investment

According to Bankrate’s latest Financial Security Index Poll, Americans who have money to set aside for the next 10 years would rather invest in real estate than any other type of investment.

Bankrate asked Americans to answer the following question:

“Which would be the best way to invest money you did not need for more than 10 years?”

Real Estate came in as the top choice with 25% of all respondents, while cash investments (such as savings accounts and CD’s) came in second with 23%. The chart below shows the full results:

Sterling White, co-founder of Holdfolio, gave one reason as to why real estate may have ranked so high.

“Houses are tangible. You can physically see and feel the product. So you know where your money is going.”

July’s poll also found that for the “26th consecutive month, Americans’ sense of financial well-being improved when taking into account debt, savings, net worth, job security, and overall financial situation.”

Bottom Line

There are several reasons, both financial and non-financial, as to why homeownership makes sense. It is nice to see that Americans have returned to a belief in homeownership as the best investment.

Share this:

74% of Households in the US Now Have Significant Equity!

74% of Households in the US Now Have Significant Equity!

Price Appreciation = Good News for Homeowners

Frank Nothaft, CoreLogic’s Chief Economist, explains:

“In just the last four years, equity for homeowners with a mortgage has nearly doubled to $6.9 trillion. The rapid increase in home equity reflects the improvement in home prices, dwindling distressed borrowers and increased principal repayment.

“These are all positive factors that will provide support to both household balance sheets and the overall economy.”

Anand Nallathambi, President & CEO of CoreLogic, believes this is a great sign for the market in 2016 as well, as he had this to say:

“More than 1 million homeowners have escaped the negative equity trap over the past year. We expect this positive trend to continue over the balance of 2016 and into next year as home prices continue to rise.

Nationally, the CoreLogic Home Price Index was up 5.5% year over year through the first quarter. If home values rise another 5% uniformly across the U.S., the number of underwater borrowers will fall by another one million during the next year.”

Below is a map illustrating the percentage of households in each state with significant equity:

Many homeowners with more than 20% equity in their home would be able to use that equity as a down payment on either a larger home or even a retirement home.

Bottom Line

If you are one of the many Americans who are unsure of how much equity you have in your home, don’t let that be the reason you fail to move on to your dream home this year!

Share this:

Selling Your Home? Make Sure the Price Is Right!

Selling Your Home? Make Sure the Price Is Right!

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Let’s get together to discuss what is happening in the housing market and how it applies to your home.

Share this:

Common Questions Potential Home Buyers May Ask

After seeing your home online or during an open house, potential home buyers may have additional questions for you, the homeowner. Being knowledgeable and honest with potential buyers may expedite your home’s sale. Below are five questions you should be able to answer during the selling process.

Where is…? Certain features of your home may be harder for buyers to locate. They may want to inspect items such as the water heater, sprinkler controls, thermostat, pool filter, and circuit breaker. Show potential buyers where these can be found and how they’re maintained.

Be ready to answer any question a potential home buyer asks. If you don’t know the answer right away, be honest about it and be sure to get back to them promptly.

Share this:

Up Your Winter Curb Appeal

Regardless of the season, your home should make a good first impression on potential home buyers. Here are some helpful tips for boosting your home’s curb appeal during the winter months.

Light It Up With less sunshine and shorter days, adding outdoor lighting to your home will help illuminate it and could make it more inviting to buyers. Lighting the pathway to your front door and highlighting any features unique to your home may increase your home’s curb appeal.

Add Winter Plants Don’t let winter weather mean the end of your garden. Adding evergreen or winter-blooming plants can inject color into the white and gray winter landscape and make your home stand out. Flowers such as witch hazel, winter jasmine, and pansies can thrive and add color all winter.

Update Your Door A front door that appears to be in need of a fresh coat of paint or refurbishing can deter home buyers. Your front door should be in pristine condition, and in the winter months it could benefit from a splash of vibrant color to juxtapose the sparsely colored winter season.

Don’t let winter freeze up your home’s curb appeal. Follow these helpful tips and you may make your home as appealing now as it is the rest of the year.

Share this:

Moving Day Mistakes

Congratulations!

You’ve found a new home. Now it’s time to move in. One of the most important components of a successful move may be staying organized. Avoid making these common moving mistakes and you are likely to have a smoother move. Packing boxes haphazardly

Do your research before choosing a moving company. Read reviews and ask for referrals from friends to decrease the likelihood of lost, stolen, or damaged belongings. Forgetting to set up utilities beforehand

Call your providers a month before your move. Schedule to have your utilities set up in advance so you don’t have another task on your to-do list on moving day. Underestimating the importance of measurements

Can your living room sofa fit through the front door? Take measurements of doorways beforehand to make sure all your large pieces of furniture can fit. If the front door isn’t an option, measure other entry ways, such as the back door or garage. Not packing a “just in case” kit

Share this:

Choosing a house to call a home is one of the most important decisions people make. Working with a real estate agent can make the home buying or selling process easier and more efficient. We spoke with agents affiliated with the CENTURY 21® brand to find out why you should work with an agent.

What is one reason why a buyer should work with a CENTURY 21 Agent?

–Helen Hunt, CENTURY 21 Homes and Investments: “I can have your home marketed internationally. We are the best real estate brand in the country.”

–Jerry Tuscano, CENTURY 21 Elite, New Jersey: “Forbuyers we have an easy to use, full featured mobile app that we can share with a buyer in less than a minute and can start being used right away! Complete with a mortgage calculator and area stats and pictures of area where house is located.”

What is one reason why a seller should work with a CENTURY 21 Agent?

-Helen Hunt, CENTURY 21 Homes and Investments: “Professional, trained, serious about your future.”

-Sarah Gravelle, CENTURY 21 Real Estate Center broker in Puget Sound: “All the unmatched tools and forms of communication to expose the seller’s property to the largest market provide great value.”

-Jerry Tuscano: CENTURY 21 Elite, New Jersey “For sellers we have the best Marketing platform at our fingertips that can be also be used on a mobile device. Marketing their property in an instant.”

Make informed decisions faster so that you can start enjoying your new home sooner. CENTURY 21 Agents have the marketing expertise, tools, resources, and research to help you make a house a home.

Share this:

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**Frank Nothaft, CoreLogic’s Chief Economist, explains:**

**Anand Nallathambi, President & CEO of CoreLogic, believes this is a great sign for the market in 2016 as well, as he had this to say:**

Where is…?
Certain features of your home may be harder for buyers to locate. They may want to inspect items such as the water heater, sprinkler controls, thermostat, pool filter, and circuit breaker. Show potential buyers where these can be found and how they’re maintained.

Light It Up
With less sunshine and shorter days, adding outdoor lighting to your home will help illuminate it and could make it more inviting to buyers. Lighting the pathway to your front door and highlighting any features unique to your home may increase your home’s curb appeal.

Add Winter Plants
Don’t let winter weather mean the end of your garden. Adding evergreen or winter-blooming plants can inject color into the white and gray winter landscape and make your home stand out. Flowers such as witch hazel, winter jasmine, and pansies can thrive and add color all winter.

Update Your Door
A front door that appears to be in need of a fresh coat of paint or refurbishing can deter home buyers. Your front door should be in pristine condition, and in the winter months it could benefit from a splash of vibrant color to juxtapose the sparsely colored winter season.

You’ve found a new home. Now it’s time to move in. One of the most important components of a successful move may be staying organized. Avoid making these common moving mistakes and you are likely to have a smoother move.

Packing boxes haphazardly

Do your research before choosing a moving company. Read reviews and ask for referrals from friends to decrease the likelihood of lost, stolen, or damaged belongings.

Forgetting to set up utilities beforehand

Call your providers a month before your move. Schedule to have your utilities set up in advance so you don’t have another task on your to-do list on moving day.

Underestimating the importance of measurements

Can your living room sofa fit through the front door? Take measurements of doorways beforehand to make sure all your large pieces of furniture can fit. If the front door isn’t an option, measure other entry ways, such as the back door or garage.

Not packing a “just in case” kit

Choosing a house to call a home is one of the most important decisions people make. Working with a real estate agent can make the home buying or selling process easier and more efficient. We spoke with agents affiliated with the CENTURY 21^® brand to find out why you should work with an agent.