Lauras Choice

A Blog from Laura Kubicki

It’s a Seller’s Market – But great options are still available for savvy buyers!

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Under Contract In Four Days!

Now’s the perfect to sell…and buyers…my best advice?  Hurry!

Here in the Triad, Spring is in full swing! Inventories are extremely low creating obvious shortages in some price points and locations.

In fact, the last two properties I listed in March were under contract in just two and four days at asking price – with multiple offers!

Now that’s really moving!

Folks are combing the property search tools just waiting for new listings to hit.  Many people are set up to get automatic texts or emails when a new property with their search criteria pops up.  So, if you’re thinking about selling a property, now would be an excellent time! Contact me and we’ll get it listed and announced to the world – fast!

Now, with all this market enthusiasm for sellers…what makes this a good time for buyers, you ask???

Great question!  There are several reasons you may want to consider hurrying into the market if you’re ready to buy a home. Interest rates are slowing starting to rise – but they are still quite low!  The Fed’s increase in interest rates, (up a quarter of a percent in March), drove the average 30-year fixed mortgage rate to about 4.21% vs. 3.68% a year ago, according to money.cnn.com.

And, while the interest rates dipped slightly again, the current forecast seems to suggest the Central Bank is expected to raise rates a total of three times this year – which could drive mortgage interest rates to around 5%.  That’s still VERY LOW, but why not avoid paying any more in interest, if you’re looking to buy now?

  • Inventory is low, but more is being added now due to the arrival of Spring. Sellers know this is the time a lot of property sells, and they’re working hard to get more choices on the market for you.  Savvy buyers benefit from that type of momentum!
  • The weather is beautiful…making it all the easier to search for and get settled into your new dream home!
  • It’s not too hot, and not too cold, the days are longer, and you can perhaps avoid the busy summer travel season so you can have your new home and your vacation too!

Happy Spring Friends!

Triad Monthly Market Update – April 2017

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March 2017 Monthly Market Stats

Here’s your monthly real estate update for our area for March 2017.  Remember the data lags by one month so April’s report shows activity for the preceding month – March!

The local area real estate market continued to build powerful momentum!  Take a look at this…

  • The number of properties that closed in March was up 12.6% YTD vs 2016 – and dollar volume is up a whopping 20.5% due to a 7% increase in average sales price!
  • Over the last 12 months, resale closed properties have increased from 15.4% in February to 16.2% in March!
  • The total number of active listings are down 16% from this time last year.
  • By comparing active listings to total sales during the last 12 months there is currently a extremely low 3.5 month supply of inventory on the local market overall.

WOW!  If you are considering selling your home, this is the time!

Concerned About Interest Rates On The Rise?

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Have you heard the latest news on interest rates?  They’re predicted to rise – 3 different times – this year!  That’s great for your every day savings account, but what about a new mortgage?

When mortgage interest rates rise, you may be tempted to put your home buying plans on hold, but there are three reasons you shouldn’t let these (slightly) higher interest rates deter your home buying plans in 2017.

  • First, when you shop for rates, be sure and shop at least three lenders using the same type of loan – 30-year fixed rate, adjustable, hybrid and so on. Do so at the same time because rates can change as much as several times daily.  Then pick the best rate and lender for you.
  • Secondly, if applicable, make sure you talk with your lender about ways to improve your credit profile. If you’re stretching to buy a home, you can expect to pay higher interest rates but if your credit is excellent, the reverse is also true!
  • Lastly, remember to keep some perspective. Home buying conditions and interest rates change constantly.  Focus on building equity with the lifestyle you want, not the slightly rising interest rates of today.  After all, in the late 70’s early 80’s rates reached as high as 18+%!  We’re not even close to something like that!

Should You Have An Open House?

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Should You Have An Open House?

Ninety-five percent of home buyers use the Internet to shop for a home, according to the National Association of REALTORS.® If home buyers can see your home through multiple photos, videos and virtual tours, why bother with an open house?

An open house can catch buyers early in the home-search process when they’re driving around neighborhoods and getting first impressions. They often choose several homes to drive by, and an open house could tip them favorably toward your neighborhood and home. Open houses allow buyers to view homes without obligation, and an open house helps them form their preferences, compromises and deal-breakers.

An open house is only effective if it shows the home to its fullest advantage. Deep cleaning, de-cluttering, de-personalizing, and staging are imperative, just as they are for showings by appointment. Your pets should be out of the home for the day, and you should make plans to be gone while your home is open to the public.

That said, less than nine percent of buyers chose the home they bought from yard signs and open houses.Instead, 90 percent used the services of a real estate agent, which means an open house is only one piece in the overall marketing plan for selling your home.

Contact me if an open house should be part of your home’s marketing plan. Keep in mind that you may be in a market where homes are selling so quickly that an open house isn’t necessary, but in most markets, you should employ all the ways home buyers shop for a home.