FEBRUARY END OF MONTH UPDATE

Today, just as I had finished posting the current stats for SCCL, another Single Family Residence (SFR) went UNDER CONTRACT.  At the end of February of last year, there were 33 ACTIVE SFRs and 8 Villa and Carriage Home listings.  As of this writing, there are only three (3) FSRs and there are NO ACTIVE Villa or Carriage Home listings. 

 

Current information can be found using the links below 

and can always be found using the tabs at the top of this page.

CURRENTLY ACTIVE/UNDER CONTRACT/SOLD YTD

 

UP-TO-DATE STATS FOR SCCL

Information about specific properties can be found using the PROPERTY SEARCH tab above.

Contact me if you'd like to receive property updates by email.

 

 

TreeTops by Lennar

Lennar Homes is getting ready to close out TreeTops. As of 2/25/21 there were only 7 available properties. If you are interested in seeing any of these homes, remember that is always in your best interest to be represented by your own REALTOR®. The sales staff, while very helpful, represent the builder, not the buyer.  Builders require that buyers must be represented by their own agent on their first visit to a community or they will be considered as unrepresented.  I'd be happy to arrange a visit to TreeTops with you, if you would like to check it out.

 

The main model (location of Sales Office), which is a Hopewell, will be for sale in the near future. The price has not yet been provided.

There are currently NO ACTIVE RESALES at TreeTops, but they do come up, so if you would like updates on TreeTops listings, please contact me.

 

With inventory down, we are currently in a Seller's market.

If you have been thinking about making a move,

now might be the perfect time to put your home on the market.

Give me a call, if you'd like to discuss your plans.

It’s a Sellers’ Market [INFOGRAPHIC]

 Infographic Courtesy of Keeping Current Matters/The KCM Blog

These are national stats.  Visit my website regularly for local stats.

Some Highlights

• Over the past year, homeowners have gained an unprecedented opportunity to sell with great success while buyer demand is soaring.
• With homes selling twice as fast as they did last year at this time, getting multiple offers, and rising in price, homeowners are in the driver’s seat.
• Reach out to a local real estate professional today if you’re ready to learn about the leverage you have as a seller in today’s housing market.

Are There Going to Be More Homes to Buy This Year?

Article Courtesy of Keeping Current Matters/The KCM Blog

If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market later this year. Let’s break down the three key places they’ll likely come from as 2021 continues on.

1. Homeowners Who Didn’t Sell Last Year

In 2020, many sellers decided to pause their moving plans for a number of different reasons. From health concerns about the pandemic to financial uncertainty, plenty of homeowners decided not to move last year.

Now that vaccines are being distributed and there’s a light at the end of the COVID-19 tunnel, it should bring some peace of mind to many potential sellers. As Danielle Hale, Chief Economist at realtor.com, notes:

“Fortunately for would-be homebuyers, we expect sellers to return to the market as we see improvement in the economy and progress against the coronavirus.”

Many of the homeowners who decided not to sell in 2020 will enter the market later this year as they begin to feel more comfortable showing their house in person, understanding their financial situation, and simply having more security in life.

2. More New Homes Will Be Built

Last year was a strong year for home builders, and according to the National Association of Home Builders (NAHB), 2021 is expected to be even better:

“For 2021, NAHB expects ongoing growth for single-family construction. It will be the first year for which total single-family construction will exceed 1 million starts since the Great Recession.”

With more houses being built in many markets around the country, homeowners looking for new houses that meet their changing needs will be able to move into their dream homes. When they sell their current houses, this will create opportunities for those looking to find a home that’s already built to do so. It sets a simple chain reaction in motion for hopeful buyers.

3. Those Impacted Financially by the Economic Crisis

Many experts don’t anticipate a large wave of foreclosures coming to the market, given the forbearance options afforded to current homeowners throughout the pandemic. Some homeowners who have been impacted economically will, however, need to move this year. There are also homeowners who didn’t take advantage of the forbearance option or were already in a foreclosure situation before the pandemic began. In those cases, homeowners may decide to sell their houses instead of going into the foreclosure process, especially given the equity in homes today. Lawrence Yun, Chief Economist at NAR, explains:

“Given the huge price gains recently, I don’t think many homes will have to go to foreclosure…I think homes will just be sold, and there will be cash left over for the seller, even in a distressed situation. So that’s a bit of a silver lining in that we don’t expect a massive sale of distressed properties.”

As we can see, it looks like we’re going to have an increase in the number of homes for sale in 2021. With fears of the pandemic starting to ease, new homes being built, and more listings coming to the market prior to foreclosure, there’s hope if you’re planning to buy this year. And if you’re thinking of selling and making a move, doing so while demand for your house is high might create an outstanding move-up option for you.

Bottom Line

Housing demand is high and supply is low, so if you’re thinking of moving, it’s a great time to do so. There are likely many buyers who are looking for a home just like yours, and there are options coming for you to find a new house too. Contact a local real estate professional today to see how you can benefit from the opportunities available in your local market.

How Much Leverage Do Today’s House Sellers Have?

Article Courtesy of Keeping Current Matters/The KCM Blog

The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory of homes available for sale is down 25.7%. There are 360,000 fewer single-family homes for sale today than there were at this time last year. This increase in demand coupled with such limited supply is leading to more bidding wars throughout the country.

Rose Quint, Assistant Vice President for Survey Research with the National Association of Home Builders (NAHB), recently reported:

“The number one reason long-time searchers haven’t made a home purchase is not because of their inability to find an affordably-priced home, but because they continue to get outbid by other offers.”

A survey in the NAHB report showed that 40% of buyers have been outbid for a home they wanted to purchase. This is more than twice the percentage in 2019, which was 19%.

What does this mean for sellers today?

It means sellers have tremendous leverage when negotiating with buyers.

In negotiations, leverage is the power that one side may have to influence the other side while moving closer to their negotiating position. A party’s leverage is based on its ability to award benefits or eliminate costs on the other side.

In today’s market, a buyer wants three things:

1. To buy a home
2. To buy now before prices continue to appreciate
3. To buy now and take advantage of historically low mortgage rates while they last

These three buyer needs give the homeowner tremendous leverage when selling their house. Most realize this leverage enables the seller to sell at a good price. However, there may be another need the seller has that can be satisfied by using this leverage.

Here’s an example:

Odeta Kushi, Deputy Chief Economist at First American, recently identified a situation in which many sellers are finding themselves today:

“As mortgage rates are expected to remain near 3%, millennials continue to form households and more existing homeowners tap their equity for the purchase of a better home…Many homeowners may want to upgrade, but do not for fear that they will be unable to find a home to buy.”

She then offers a possible solution:

“While the fear of not being able to find something to buy will not disappear in a limited supply environment, new housing supply can incentivize existing homeowners to move.”

There’s no doubt many sellers would love to build a new home to perfectly fit their changing wants and needs. However, most builders require that they sell their house first. If the seller sells their home, where would they live while their new home is being constructed?

Going back to the concept of leverage:

As mentioned, buyers have compelling reasons to purchase a home now, and many homeowners have challenges to address if they want to sell. Perhaps they can make a deal to satisfy each party’s needs. But how?

The seller may decide to sell their home to the buyer at today’s price, which will enable the purchaser to take advantage of current mortgage rates. In return, the buyer might lease the house back to the seller for a pre-determined length of time while the seller’s new home is being built. A true win-win negotiation.

Not every buyer will agree to such a deal – but you only need one.

That’s just one example of how a seller might be able to overcome a challenge because of the leverage they have in today’s market. Maybe you feel a need to make certain repairs before selling. Perhaps you need time to get permits or approvals for certain upgrades you made to the house. Whatever the challenge, you may be able to work it out.

Bottom Line

If you’re considering selling your house now but worry a huge obstacle stands in your way, contact a local real estate professional. Maybe with the leverage you currently have, you can negotiate a deal that will allow you to make the move of your dreams.

Where Have All the Houses Gone?

 Article Courtesy of Keeping Current Matters/The KCM Blog

In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:

“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”

Every month, realtor.com releases new data showing the year-over-year change in inventory of existing homes for sale. As you can see in the map below, nationwide, inventory is 42.6% lower than it was at this time last year:

 

Does this mean houses aren't being put on the market for sale?

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is that competitive! It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.

In the same realtor.com report, Hale explains:

“Time on the market was 10 days faster than last year meaning that buyers still have to make decisions quickly in order to be successful. Today’s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.”

The Good News for Homeowners

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf, Chief Economist at Zonda, confirms:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.”

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.

When you’re ready to sell your house, you’ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, sellers have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.

Bottom Line

Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Contact a local real estate professional for advice on how to sell your house safely so you’re able to benefit from today’s high demand and low inventory.

 

AND THEN THERE WAS ONE...

ACTIVE SFR LISTING

There are 3,161 total residences in SCCL.

2808 Single Family Residences
275 Villas
78 Carriage Homes 

_____________________________________ 

On February 20, we hit a new all-time low of 

 1 ACTIVE Single Family (SFR) Listing in SCCL!

 

 

 

UPDATED 2/22/21

                           

1 ACTIVE Single Family Residence listing!      

 

There are currently NO ACTIVE Villa or Carriage Home listings.

Whether you are thinking about selling or buying, 

this is pretty important news!

Home Mortgage Rates by Decade [INFOGRAPHIC]

Infographic Courtesy of Keeping Current Matters/The KCM Blog

 

 

 

Some Highlights

• Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
• Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
• If you’re in a position to buy a home, reach out to a local real estate professional to determine your best move in today’s housing market while interest rates are still in your favor.

NEW INVENTORY LOW

ACTIVE SFR LISTINGS

There are 3,161 total residences in SCCL.

2808 Single Family Residences
275 Villas

78 Carriage Homes 

_____________________________________ 

On February 17, we hit an all-time low for ACTIVE
Single Family (SFR) Listings in SCCL! There are now...

2 ACTIVE Single Family Residence listings!
There is 1 ACTIVE Villa listing.

           

 

 

  Whether you are thinking about selling or buying, 

this is pretty important news!

FEBRUARY MID-MONTH UPDATE

There are 3,161 total residences in SCCL.

2808 Single Family Residences
275 Villas
78 Carriage Homes

The status of the market changes from day to day and, while there were 9 ACTIVE Single Family Residences (SFR) and one ACTIVE Villa listing just a few days ago, today there are just 3 ACTIVE SFRs and NO Villas or Carriage Homes.

Days on Market (DOM) have decreased considerably.

 

The charts below shows DOM for properties that have gone 

UNDER CONTRACT (UC) since the first of the year.

14 SFRs went UC in three weeks or less.  

9 of those went UC in less than a week.

5 of them in 2 days or less.

Carriage Homes and Villas

Current information can be found using the links below 

and can always be found using the tabs at the top of this page.

UP-TO-DATE STATS FOR SCCL

CURRENTLY ACTIVE/UNDER CONTRACT/SOLD YTD

Information about specific properties can be found using the PROPERTY SEARCH tab above.

Contact me if you'd like to receive property updates by email.

 

With inventory down, we are currently in a Seller's market.

If you have been thinking about making a move,

now might be the perfect time to put your home on the market.

Give me a call, if you'd like to discuss your plans.

SOMETIMES STATS ARE CONFUSING... REVISITED

You may remember this post from July 2020.  I share it again (with minor changes) in response to questions that folks ask me based on flyers they receive in their mail tubes.

We live in a community that is served by a number of real estate brokerages and residents are used to getting updates in their mail tubes from several of them.  As a resident agent, I get those as well and am frequently asked about things that appear on them.  The first thing I tell people is that the sales information provided was current the day the flyer was printed, but it is very likely that it was already outdated the day it arrived in your tube.  That is why I encourage everyone to visit my website regularly for the most current market information and, if you want updates delivered to you, I'm happy to set up a personalized auto-email to keep you informed.  Whether you want info about the community in general or something more specific (like a particular model or, perhaps, basement or loft homes), parameters can be set to give you that information.

I was recently asked why our homes are not going up in value as the inventory goes down.  Well, they actually are showing an increase, but it's hard to tell that when you're looking at average prices over a year, especially when our market has changed significantly.  It is important to recognize that differences of all sorts can affect averages.  

Remember that each collection of homes has a variety of models.  

The Summit collection, for example, includes 5 models: 

Copper Ridge, Surrey Crest, Tifton Walk, Vernon Hill, and Willow Bend

 

Some of those homes have basements, some have lofts, some have wooded views, some have golf course or water views, and all have different looks (all vinyl siding, brick, and stone with different roof designs)... all of these things make a difference.  Looking at comparable homes that have sold recently is more important than looking at generalized averages.  Please contact me if you'd like to see what the comps for your home look like.  

 

If you are not currently on my email mailing list and would like to receive updates, please contact me. 

 

HAPPY VALENTINE'S DAY

 

There is a light at the end of the tunnel!

 

Stay positive.

Stay safe.

Stay healthy.

Check Out the New Helen Adams Realty Mobile App!

 

I'm really excited to share the new Helen Adams Realty mobile app!  It has the most accurate, up-to-date MLS information and features great search options and filters, large photos, a mortgage calculator, and more. Use this link to download it to your tablet or mobile phone:  https://app.helenadamsrealty.com/czRp

Please feel free to share this link with friends or family, or, when you have the app opened, click on the three horizontal lines (sometimes called the hamburger) on the top left corner and click on "Invite to App." 

 

If you have and older version of this app, make sure it's updated on your device or delete it and use this new link.  Anyone without the link can go to the App Store or Google Play from their device and search "Helen Adams Realty." When setting up an account, please be sure to set me as your preferred agent from the "agent search" to make sure I'm always up to speed on your favorite searches and homes.

Remember, this great mobile app has many awesome features...

• Search by address, city, zip, school, mls #
• Map search, draw to search, list view, satellite view, and street/AR view aka "Home Scan"
• GPS/location search
• Filter by status (incl sold), type, beds, baths, price, sq ft, year built, parking, lot size, new this week, reduced this week, open houses
• Search based on set POIs/commute times
• Mortgage calculator
• View property detail pages, including photos, MLS description, virtual tour links, interior/exterior features, history, Mortgage calculator, neighborhood details including walk score, directions, nearby attractions, commute time, school information

I would love to get your feedback about this app.  Please let me know if you are experiencing any downloading issues.   I understand that some folks are running into problems when downloading the app to an iPad.  The company that services the app for HAR has their engineers working on it.  As far as I know, there are no problems downloading to iPhones.  If you are having a problem downloading the app to your device, please let me know.

 

Also, remember, I can always set up an auto-email to provide you with regular email updates on your favorite search.  Just contact me and I'll set that up!