Friday, June 25, 2021 / by Barbara Oleska
We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer.
High Buyer Demand
Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up ...
Monday, April 19, 2021 / by Barbara Oleska
4 Major Reasons Households in Forbearance Won’t Lose Their Homes to Foreclosure
There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that won’t happen.
1. Almost 50% Leave Forbearance Already Caught Up on Payments
According to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited.
26.6% made their monthly payments during their forbearance period
14.7% brought past due payments current
7.6% paid off their loan in full
This doesn’t mean that the over two million still in the plan will exit exactly the same way. It does, however, give us some insight into the possibilities.
2. The Banks Don’t W5 ...
Tuesday, April 6, 2021 / by Barbara Oleska
So many of my Flamingo buyers are loving amenities and flocking to the Bridges communities! I'm watching the numbers everyday and can we say roasty, toasty market over on the west side? As of this moment there are a total of 12 resale homes available and 34 pending sales. What does that mean? Based on pending sales we have about 2 weeks of inventory. It's supply and demand.
For Sale 3
For Sale 9
Boca Bridges Resale (New Homes still Available - Call me!)
For Sale 0
Prices seem so high and my buyers ask me how much should homes cost in the Bridges communities. I can't give a blanket answer because it depends on so many factors which include size, age, style, view, etc. Another important question is in which collection is the home located? All of the Bridges communities have four collections priced from entree through premium. How close the home is to 441, Lyons, or the Turnpike matters, too.
How a home i! ...
Wednesday, March 31, 2021 / by Barbara Oleska
Do you know what you want? Do you have the will to win?
Housing inventory is low and competition is fierce. It's not a game for the faint of heart. If you know what you want and you have the will to win, with a great coach you will be victorious.
A beautiful home attracts attention. These days, too much attention! 10 to 20 offers are not unusual. Unfortunately for some buyers, they are pushed to the sidelines, but if you can come on strong, you can take the contract.
Be aggressive. Be, be aggressive.
It's a seller's market. That's reality. In some segments of the market we have less than a month of supply. That means that if no new properties came on the market there would be nothing left to buy in a month (Sellers, before you get too happy, slappy with that information, stay tuned for a future post about why homes fail to sell even in a smoking, hot market!).
Be aggressive with price and terms. Make sure your agent is strategic and on the phone pulling as mu; ...
Tuesday, March 23, 2021 / by Barbara Oleska
When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. Here are two things to keep in mind if you’re thinking of selling this season.
1. There aren’t enough homes for sale right now.
A normal market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that benchmark. According to the National Association of Realtors (NAR), there’s only a 1.9-month supply of homes available today. As a result, buyer competition is high and homes are only on the market for about 21 days, during which time many receive multiple offers from hopeful buyers.
In a competitive market that’s moving so quickly, it makes sense to sell your house when buyers are scooping homes up as fast as they’re being listed ...