This chart indicates the sales growth from 2017 thru February 2019. This is an overall average, does not define the Estate Homes nor the Garden homes clearly, the price point for the majority of current buyers in the past 3 months has been less than $300,000.
It’s no secret that life’s been pretty good to sellers for the past several years. Even if you had no need—or desire—to move, the housing landscape might have seriously tempted you to put your house on the market anyway. After all, it’s hard not to see visions of dollar signs when your neighbors are unloading their homes for tens of thousands over asking price.
But as they say, all good things must come to an end. And you’ve probably heard that the white-hot housing market of years past is finally beginning to cool.
So if you haven’t listed your home before now, or did and felt you were not represented well, did you miss the boat? Absolutely not. But with each passing month, the experts say, you can expect the housing climate to shift a bit more in buyers’ favor.
“It’s definitely still a seller’s market in most of the country. But it’s not the same seller’s market that you saw in the last couple of years,” says Danielle Hale, chief economist of realtor.com®. “You might have to think about how your home compares to the competition and new builds, that buyers are going to see when they’re shopping. And you might have to price a little bit more competitively, or think about other enticements to attract buyers.”
I have many reasons a fairly new home may sell quicker than going to that builder in the neighborhood you’ve been looking at., There’s still a chance to cash in for top dollar, though, if you move quickly. Here are the biggest reasons to sell ASAP in 2019.
1. You won’t be the only listing for long
The top reason sellers have been in the catbird seat for the past several years? Inventory. There simply weren’t enough homes on the market to keep up with buyer demand. And when a “Home did go on the market” you can bet a bidding war may soon follow if your Realtor knows their stuff.
“You might have been the only listing in your neighborhood, and you could put your home up at a certain list price and you would likely see multiple offers at or above that list price,” Danielle Hale explains.
That tide is turning this year! That’s because the number of homes for sale is finally increasing, For now, buyers still outnumber inventory. But if you’re thinking about selling and don’t want to compete with your neighbors, it’ll pay off (literally) to list earlier rather than later. (This is particularly true in pricier markets, where inventory is increasing at a faster rate than more affordable areas.
“It’s going to depend on what neighborhood you’re in, but we expect it to be more common this year that you won’t be the only listing,” Danniel Hale says.
2. You still stand to make a ‘Fair Profit’
Home prices have been on a meteoric rise for the past seven years. In January 2012, the U.S. median home price was $154,700. Today, that figure has nearly doubled—to $289,300—and sellers have rejoiced. Sellers in Nocatee, Ponte Vedra, and Ponte Vedra Beach are enjoying much better opportunities.
Now comes a twist: 15% of all home listings saw price cuts in January, according to North East Florida Data.
That might sound like bad news if you’re thinking of selling. But hear this out: Those moderating prices, combined with today’s mortgage rates (more on that below), mean increased buyer demand for your house.
Plus, it’s not that home prices aren’t still increasing—they’re just not increasing at the frenzied pace of previous years, which often featured multiple offers at or above asking price. So even though you might have some more competition as a seller, things are still looking pretty sweet for you when it comes to cold, hard cash. When accepting an offer above what is believed the market price, CASH offers are clearly the best to accept. Appraisals are not required, and clearly a quicker close, and rarely disputed even when an appraisal is asked by the buyer at their expense.
“Even if you don’t get an offer above your asking price, you’re probably still going to come away with a handsome profit from being a seller in 2019,”
But again, it’ll pay to put your home on the market as soon as you can—before conditions change.
“Sellers who list their homes earlier in the year tend to get a higher sales price, often above list, and shorter days on market,” says Ali Wolf, director of economic research at Meyers Research.
Watch: This Totally Ordinary House Sold for $782K Over Asking (Yes, You Read That Right)
3. There’s high demand for homes under $300K
There’s more good news if you own a home below the national median price of $289,300. Not only is that inventory increasing at a slower rate than its luxury counterparts, but there are more buyers shopping at those price points.
“If you’re a below-median-price seller, you will see a seller’s market that is as good as what you saw in previous years—maybe even better,” Hale says. “You might still see multiple offers coming in quickly, maybe even above asking price.”
4. Mortgage rates are at a new low
Something strange has been happening over the past few months. Experts predicted mortgage rates would rise—and at the end of 2018, they were indeed ticking upward as expected.
But since the start of the year, rates on a 30-year fixed mortgage (the most popular home loan) have been falling, sliding last week to a new 12 month low of 4.37%, and of course, those historically low mortgage rates mean you could have more buyers knocking on your door.
Plus, this temporary dip in rates creates an opportunity for trade-up buyers as well. After all, if you’re selling your home, there’s a good chance you’ll need to buy another one.
Bottom line: Now’s the time to hustle and get both transactions done.
“Sellers need to take advantage of low rates as much as buyers do,” Wolf says. “Sellers don’t want to get stuck in their homes when rates go up and the math no longer makes sense to move.”
Our Riverwood Mens Club entertained a program by St John’s County Manager Thursday, February 28th.
This is what he shared: We are the Healthiest County in Florida.
We have the best schools in the state of Florida 9 years running.
Quality of Life is one of the most successful of any county in the United States and very low taxable county for the services they provide.
Lowest taxes of any county in the state of Florida, and a sales tax of only 6.5%
Wealthiest County in the State of Florida, with assets exceeding $2 Billion.
One of the few Counties in the State that does not charge for beach parking
Florida Power is the least expensive of any Power and Light company’s in the State of Florida.
An amazing County, amazing communities, amazing environment, and Nocatee is second to none for the recreational programs they provide.
I’m your go to Realtor no doubts. Dan Swing 904-671-9225
|Food for thought, not necessarily for staging to sell!|
|Comfort is trending for 2019, a consensus of home decorators agree, with more people seeking warm colors, intimate spaces, and a casual but sophisticated lifestyle. |
Designers looking to pair physical coziness with emotional comfort forecast seven decor trends:
Scaled down furnishings – After years of favoring large furniture and open spaces, consumers are aiming for a ‘nesting’ environment and choosing smaller pieces arranged in more intimate settings.
Wall coverings – The return to traditionalism brings with it a return to wallpaper, fabric wall coverings and murals. Expect to see plenty of rich shades of green in fabric and wallpaper patterns.
Color changes – While blues and indigos have been huge in recent years, green is the new blue for 2019 and is likely to be used in everything from upholstery patterns to kitchen furnishings.
Color ‘pops’ – People are ditching beige minimalism in favor of fun colors, especially in family-friendly spaces. Yellow is the hottest color for small accent pieces–from ceramics to lamps to sofa pillows.
Warm woods and traditional styles – Antiques and even second-hand items are having their moment again, with consumers looking for skirted tables, wooden chests and other wood pieces with a sense of history.
Indoor and outdoor fireplaces – The coziness trend favors indoor fireplaces, working or not, with homey hearths as a nice spot to gather. Outdoors, fireplaces are preserving the joy of summertime barbecues.
Crafts and artisanal accents – In a world of increasing mass production, there has been a shift back to artisanal and boutique choices in pillows, wall hangings, quilts and other accent pieces all around the home.
I wanted to share this article about Redfin, and pertains to many other iBuyer services. However none of these actually help a seller, and negotiations are seldom used with these deals. RE/MAX new platform coming soon, with their agent’s expertise is a much better choice!
Redfin CEO Glenn Kelman said Thursday that “while most people reject the cash offers, they still help sell more houses!” by Jim Dalrymple II Staff Write
Kelman made the comments during which he repeatedly stressed the importance of Redfin Now, which buys houses for cash. However, when asked about specifics on the program, “Kelman revealed that most home sellers don’t actually accept the cash offers!’
“Most customers who get a Redfin Now offer don’t take it,” he said. He also said that the program’s pricing “approaches a 10 percent discount once you include all the costs and fees. But there are many customers who want to see that, and we believe that offering that choice increases the total number of homes that we sell.”
Kelman also seemed to acknowledge during the call that Redfin faces challenges when it comes to figuring out how to make cash offers both profitable for his company and worthwhile for consumers.
“Of course what we can pay for a home, and whether it’s a good deal for both the owner and Redfin Now, is still a tricky business,” he said. “In the fourth quarter, for example, a worrisome end-of-year market limited the number of homes we bought and increased the number we sold.”
While these iBuyers have garnered headlines and investment in recent years, numerous open questions remain about how they might fare in a market downturn. Most iBuyers also limit their offers to a relatively narrow class of properties — typically newer homes in relatively affordable cities — and it remains to be seen if this business model can grow beyond a niche product. Weigh your options and do not be deceived.
The iBuying sector also raises questions about how many sellers are actually willing to slash the price of their home in order to sell it quickly. Kelman’s comments seem to suggest that at least in Redfin’s case, the answer is, not enough.
Still, Kelman said that Redfin plans to continue investment in its iBuyer program, which currently operates across most of Southern California as well as in Dallas, Texas. Kelman said Redfin Now will likely expand to as many as five new markets in 2019!
“Giving customers the option of an instant offer seems here to stay,” Kelman said.
“In my opinion, a poor and low ball offer and poor negotiations lack the professional integrity RE/MAX Agents and I will offer!” Dan Swing said.