Segment 1 – Who Are Buying Homes Now?
We air the Real Estate Voice show every Saturday, if you cannot listen to the whole show, it is available on Barb's site: BarbHasTheBuyers.com, OR search Barb & most podcasts like IHeart Radio
Every week the Real Estate Voice covers great information about the housing market and one of their largest assets – their home. Barb What will we be covering today?
• Who is Buying Homes Now
• Top Fifteen Tips to Sell Your Home for the Most Money
• The Art of Pricing to Get Top Dollar for Your Home
• Top 7 Things Sellers LOVE to Get From Buyers Offers - Hot New Listings
Barb, The Fed has announced it will keep raising interest rates until Inflation drops to 2.0%. How does that affect the home buying activity and WHO is buying homes now?
Latest Predication on DEC 14 The Fed will HIKE Again ½%
REAL ESTATE MARKET is REALLY DIFFERENT NOW Facts:
• Biggest EVER Real Estate BOOM suddenly ENDED MARKET SHOCK!
• Interest Rates Around 7.0%
• Prices have dropped about $40,000 Since April
• iBuyers Losing a LOT of Money – STOPPED BUYING or one who I sold many of my homes to for cash is now Offering 10% BELOW ASKING\ PRICE!
Per CNBC – More HOMES for Sale
• Not because more sellers are listing
• Because homes are sitting on the market
• Interest rates SHOT up to 7.3%
• Adding almost $1000 per month on the median-priced home
• Active listings UP 108%
• Pending Listings dropped 31.8%
• Number of Expired or Canceled Listings in the last 90 days UP 39.4%
• But its NOT Time to Panic
Put this into Perspective:
• Rates from 3.0% to 7.3% in 7 Months
• Corporate iBuyers QUIT Buying – ALL at ONCE
• The inventory isn’t really UP that much in fact:
Homes are NOT selling as fast Average Days on Market went from:
• 14 Days to
• 32 Days
BUT THAT IS FOR THOSE THAT ARE SELLING!
The Number of Sales is Back to 2018/2019 Levels But in 2018 Prices ROSE Almost 8%
Weekly Market Snapshot:
• Available Properties: 2848 (Down Slightly)
• Available SFA Homes: 2558 (Down slightly)
• 158% Sellers Reduced (Improved slightly)
• 12.1% Got Contracts (Improved slightly)
• 9.9% Sold (DOWN BY 3%) 1 out of 10 Homes are Selling!!!!!
• Three Ps Still Work: Preparation, Pricing, and Promotion
• Pricing REALISTICALLY is Working Now
• Average Prices are up 11.9% from a Year Ago
That’s Why if You Are Thinking of Selling You Need to Hire an Agent that knows how to get you Top Dollar during a Market Correction.
As the Rates go up: FIRST TIME HOME Buyer Demand IS NATURALLY DROPPING OFF DUE TO LACK OF AFFORDABILITY ESPECIALLY since THE FIRST TIME HOME BUYER MARKET Time is Not Your Friend
Marketing is about CREATING BUYER DEMAND That is What We Do:
When we Meet with Sellers We Show Them:
• How We Will Create Demand
• Show Them Our Database of Buyers in Waiting
• Show Them How We Help Them Get Top Dollar
Demand is Created by:
• Condition (Preparation)
• Pricing (Realistically)
• Marketing (Promotion)
• The Agent Who Can Attract the Most Buyers
You are listening to the Real Estate Voice with Barb Schlinker of Your Home Sold Guaranteed Realty, if you are thinking of making a move Barb at 719-301-3900 or visit BarbHasTheBuyers.com
When we come back…. we will be discussing: Top Fifteen Tips to Sell Your Home for the Most Money
#realestatevoice #barbschlinker #coloradosprings #yourhomesoldguaranteedrealtycolorado #barbhasthebuyers
