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the sales information provided was current the day the flyer was printed, but it is very likely that it was already outdated the day it arrived in your tube.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!

 

JANUARY - END OF MONTH UPDATE

2/1/21

UPDATE

We have hit an all-time low for ACTIVE Single Family Residence listings!

There are currently only 5 ACTIVE SFR listings!

If you've been following sales here in SCCL, you likely know how crazy the market has been in recent months.  Today, we are at an all-time low for ACTIVE single family residence (SFR) listings.  One year ago, there were 34 ACTIVE SFRs... today there are 6 (4 River Homes and 2 Summit Homes, with no Manor Homes available).  This month, 13 SFRs went UNDER CONTRACT and 15 CLOSED.  There are currently only 2 ACTIVE Carriage Home/Villa listings, with 2 having gone UNDER CONTRACT and 2 having CLOSED this month.

Things look quite similar to when I posted my  JANUARY MID-MONTH UPDATE, though numbers changed as new ACTIVE listings came on the market and others went UNDER CONTRACT. 

STATS FOR JANUARY can also be found using the UP-TO-DATE STATS FOR SCCL tab above, which gets updated regularly.

CURRENTLY ACTIVE/UNDER CONTRACT/SOLD YTD properties can be found using the tab above.

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.

 

 

     JANUARY - DAYS ON MARKET

 DAYS ON MARKET (DOM) / CUMULATIVE DAYS ON MARKET (CDOM)

CDOM includes DOM for a previous listing of the same property.

 

Carriage Homes and Villas

 

If you missed my summary for 2020 SCCL activity, please be sure to check it out here: 

End of Year Summary

 

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.

Financial Fundamentals for Homebuyers [INFOGRAPHIC]

 Infographic Courtesy of Keeping Current Matters/The KCM Blog

Some Highlights

• When you’re thinking about buying a home, there are a few key steps to take before you even start to look at houses.
• From saving for your down payment to getting pre-approved for a mortgage, you’ll want to make sure you keep your financial plan on track from the beginning.
• Reach out to a local real estate professional and a trusted lender today to make sure you have the best possible guidance as you begin your homebuying process.

5 Tips for Homebuyers Who Want to Make a Competitive Offer

Article Courtesy of Keeping Current Matters/The KCM Blog

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.

JANUARY MID-MONTH UPDATE

It's hard to believe we are already just past the halfway point for January... but here we are, with an astonishingly low inventory of 6 ACTIVE Single Family Residence (SFR) listings and 1 ACTIVE Villa listing.  Activity has been strong with 11 SFR homes and 2 Villas going under contract.

 

 DAYS ON MARKET (DOM) / CUMULATIVE DAYS ON MARKET (CDOM)

CDOM includes DOM for a previous listing of the same property.

 

Single Family Residences

 

Villas and Carriage Homes

 

END OF DECEMBER STATS

Interactive versions of these and additional graphs 

can be found under the UP-TO-DATE STATS FOR SCCL tab above.

 

MONTHS SUPPLY

 Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. For example, if there are 50 homes on the market and 10 homes selling each month, there is a 5 month supply of homes for sale. 

• Less than 6 months of inventory = Seller's Market with upward pressure on prices
• More than 6 months of inventory = Buyer's Market with downward pressure on prices.

Single Family Residences

Villas and Carriage Homes

 

AVERAGE DAYS ON MARKET

 

Single Family Residences

Villas and Carriage Homes

 

AVERAGE PERCENT OF ORIGINAL LIST PRICE

Single Family Residences

Villas and Carriage Homes

 

 Current stats can always be accessed using the tab at the top of the page.

Things to Avoid after Applying for a Mortgage [INFOGRAPHIC]

 Infographic Courtesy of Keeping Current Matters/The KCM Blog

 

Some Highlights

• There are a few key things to make sure you avoid after applying for a mortgage to help make sure you still qualify for your loan at the closing table.
• Along the way, be sure to discuss any changes in income, assets, or credit with your lender, so you don’t unintentionally jeopardize your application.
• The best plan is to fully disclose your intentions with your lender before you do anything financial in nature.

Why Right Now May Be the Time to Sell Your House

 Article Courtesy of Keeping Current Matters/The KCM Blog

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:

 

As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is creating a mismatch between supply and demand.

NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory – significantly higher than it is today.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, they must be ready to act immediately once they find the right home since bidding wars are more common when so few houses are available for sale.

Sellers may not want to wait until spring to put their houses on the market, though. With such high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms.

Bottom Line

The real estate market is entering the year like a lion. There’s no indication it will lose that roar, assuming inventory continues to come to market.