Homes Prices Rise Across the Country

Homes Prices Rise Across the Country

A quick infographic for you all today. It is official, home prices rise all across the country. I’ll get a more localized market report out on Monday for everyone to see exactly what Tahoe looks like!

Home Prices Up 5.76% Across The Country! | Simplifying The Market

 

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, waiting to move may end up costing you more!
Home Is Where the Heart Is

Home Is Where the Heart Is

Yesterday, I discussed the reasons why homeownership makes sense financially. Today I wanted to touch on the emotional or ‘real’ reasons that many of us strive to become homeowners. After all, home is where the heart is!

The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership.

The top 4 reasons to own a home cited by respondents were not financial.

1. It means having a good place to raise children & provide them with a good education

From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase. 

2. You have a physical structure where you & your family feel safe

It is no surprise that having a place to call home with all that means in comfort and security is the #2 reason.

3. It allows you to have more space for your family

Whether your family is expanding, or an older family member is moving in, having a home that fits your needs is a close third on the list. 

4. It gives you control over what you do with your living space, like renovations and updates

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

The 5th reason on the list, is the #1 financial reason to buy a home as seen by respondents: 

5. Owning a home is a good way to build up wealth that can be passed along to my family

Either way you are paying a mortgage. Why not lock in your housing expense now with an investment that will build equity that you can borrow against in the future? 

Bottom Line

Whether you are a first time homebuyer or a move-up buyer who wants to start a new chapter in their life, now is a great time to reflect on the intangible factors that make a house a home. In other words: how do you feel about where you live, and what more do you want?

Properties in Tahoe

Properties in Tahoe

1634 Skyline Drive home for sale in Tahoe

1634 Skyline – $799,888

Properties in Tahoe

Hello and good evening! Just a quick little post for everyone today! So I showed a few properties in Tahoe earlier, and I went from the higher end of the spectrum with 1634 Skyline Drive listed at $799,888.

1117 Dedi Avenue home for sale in Tahoe

1117 Dedi Avenue – $125,000

Down to a house whose value is only in the land and allocations that it currently possesses. That home was 1117 Dedi Avenue and is listed at $125,000.

Here’s the funny thing, not only did I like both of the homes (in totally different ways of course) but the people I showed the properties to were very pleased as well. One of the thing that always surprises me is that there is a buyer for virtually every single property out there. I have listed and sold properties that have almost no redeeming qualities to me at all, but someone ends up falling for them, and loving them. I think that truth has allowed me to be more open to properties that I would have previously completely ignored and perhaps even scorned. It has helped me open my eyes to more possibilities and has definitely brought me in to contact with varied and… interesting people. I love this job!

Low Inventory Causes Home Prices to Rise

Low Inventory Causes Home Prices to Rise

The National Association of Realtors (NAR) released their latest Quarterly Metro Home Price report earlier this month. The report revealed that home prices are not only continuing to rise but that the increases are accelerating. Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:

“Without a significant ramp-up in new home construction and more homeowners listing their homes for sale, buyers are likely to see little relief in the form of slowing price growth in the months ahead.”

Here are the percentage increases of home prices for the last two quarters:

Low Inventory Causes Home Prices to Accelerate | Simplifying The Market

What this means to sellers

Rising prices are a homeowner’s best friend. As reported by CoreLogic in a recent blog post:

“With demand strong and inventory thin, the share of homes selling for the list price or more has also returned to pre-bust levels. With inventory tight, homes are more likely to sell above the asking price.”

What this means to buyers

In a market where prices are rising, buyers should take into account the cost of waiting. Obviously, they will pay more for the same house later this year. However, as Construction Dive reported, the amounts of cash necessary to buy a home will also increase.

“These factors have created a situation where the market keeps moving the goalposts in terms of the down payment necessary for first-time homebuyers to get into a home.”

Bottom Line

If you’re thinking of selling and moving down, waiting might make sense. If you are a first time buyer or a seller thinking of moving up, waiting probably doesn’t make sense.

VLOG #1 – Travis Rougier – Tahoe Homes for Sale

Real Estate Video Log 1

So this is my first real estate video log that I am actually publishing.  I started trying to make these a few weeks ago, but just didn’t like how they were turning out.  Part of it was the camera that I was using (my laptop, now I’m using my phone which is better), and I felt like I was a little aimless with my message.

I really do sincerely hope that I can keep these going and create a dialogue with other agents, investors, and builders in the area.  In the short term though maybe I can help out on a smaller scale with those that are simply in my social circles.  I watch the occasional real estate video, and they all seem to be geared towards other agents, or John and Jane Doe specifically.  They don’t try and bridge the gap that has grown between the two groups.

I plan on being transparent and as helpful as possible to really try and create a helpful and communicative community.

Please, give me your feedback.