Existing Home Sales Slowed by a Lack of Listings [INFOGRAPHIC]

Some Highlights:

  • The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply.
  • Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016.
  • NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated.”

This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

Thank You For Your Support!

Have a great holiday!


This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

What Happens When a One-of-a-Kind Home Needs a New Owner?

When shopping for a home, it’s not uncommon to come across one that truly stands out. It’s not because the home is an old fixer-upper or that it’s a newly renovated home with a designer kitchen. It’s a home that’s architecturally significant or in some way conveys a “different” attribute. For instance, it might be a castle, a church or even a fire station that has been converted into one or more living spaces.

With an unusual home, pricing and marketing can be a challenge. Here are three things to keep in mind when either buying or selling a truly unique property.

1. Buyers should be cautious

As crazy as it sounds, a would-be buyer may want to reconsider purchasing an offbeat home. While it may be a home you love, it is also an investment. A home with a unique, unchangeable structural feature will likely alienate a large portion of the market.

If you’re faced with the opportunity to purchase a unique home, don’t get caught up in the excitement of it all. Think long term. Understand that when it comes time to sell, it may be a burden, particularly if you try to sell in a slow market.

2. When selling, don’t assume buyers will love what you love

As the owner of an interesting or different home who is considering a sale, be aware that not everyone will have the same feeling about the home as you did when you bought the place. While you’re likely to get lots of activity, showings and excitement over your property, a lot of that may simply be curious buyers, nosy neighbors or tire kickers.

Time after time, sellers with unique homes believe that since they fell head over heels, another buyer who might feel the same. But that person could be hard to find.

3. Hire the right agent and have a serious marketing/pricing discussion

A unique home requires a unique marketing plan and pricing strategy as well as a good agent. The buyer may not even live in your local market, and instead might be an opportunist buyer open to a unique property. So you should consider advertising outside the mainstream circles. Media and press can help get the special home the attention it may need.

The buyer may not want to live in your town but is fascinated by an old church or castle. The more you get this out there, the better your options for finding the specific buyer.

If you get lots of action but few offers, you may need to drop the price below the comparable sales to generate interest, particularly if you really need to sell. Just like a home with a funky floor plan, on a busy intersection or with a tiny backyard, the market for your unique home is simply smaller.

With online home listings, blogging and real estate television shows, unique homes stand out and get more exposure than ever. But selling a distinctive or offbeat property requires out-of-the-box thinking early on, and with a top agent. You only have one chance to make a first impression. Be certain to price the home right, expose it to the masses and have a strategic plan in right from the start.

Top image from Zillow listing.

Related:

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

Originally published October 10, 2014.


Content provided by Zillow Blog

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

Bubble Alert! Is it Getting Too Easy to Get a Mortgage?

There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:

  • More buyers are putting less than 20% down to purchase a home
  • The average credit score on closed mortgages is lower
  • More low-down-payment programs have been introduced

This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.

The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | MyKCM

As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.

The Urban Institute also publishes a Home Credit Availability Index (HCAI). According to the Institute, the HCAI:

“Measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates … it is easier to get a loan.”

Here is a graph showing their findings:

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | MyKCM

Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.

Bottom Line

It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.


This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

A Fireplace for Every Room

Although a longtime living room fixture, fireplaces are a comfort best enjoyed everywhere. From bedrooms to basements and even the master bath, there’s no right or wrong way to curl up and snuggle ’round the fireside.

To spark your fireplace fancy, here’s a roundup of ideas for inviting warmth into even the unlikeliest of rooms.

Entryway

Give guests an immediate reprieve from the chill with a fireplace front and center.

Photo from Zillow listing.
Photo from Zillow listing.

Kitchen

Because the heart of the home ought to have a hearth to go with it.

Photo from Zillow listing.
Photo from Zillow listing.

Dining room

Dress any dinner party up or down with a little fireside ambiance.

Photo from Zillow listing.
Photo from Zillow listing.

Living room

A classic pairing that’s never passe, living rooms and fireplaces forever complement an evening in.

Photo from Zillow listing.
Photo from Zillow listing.

Bedroom

Proceed with caution – once you burrow into bed to the tune of a fire’s cozy crackles, you might never get out.

Photo from Zillow listing.
Photo from Zillow listing.

Master bathroom

Luxuriating in the bath has never been toastier.

Photo from Zillow listing.
Photo from Zillow listing.

Home office

We recommend pairing this combo with a snifter of brandy and a leatherbound book.

Photo courtesy of Griffin Enright Architects.
Photo from Zillow listing.

Patio

If you’re more cold-snapped than snowbound, an outdoor fireplace lends festivity without the frost.

Photo from Zillow listing.
Photo from Zillow listing.
Top photo from Zillow listing.

Related:

This Content is provided byZillow Blog

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

Access is an Important Factor in Getting Your House SOLD!

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
  4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.


This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

Vote Now to Pick the Ultimate Kitchen for Holiday Entertaining

Get your ovens mitts ready, because the holiday season is upon us. From festive feasts to cookie exchanges, home-cooked food plays a vital role in many families’ holiday traditions.

Most of us don’t get to cook in dream kitchens outfitted with loads of counter space, two or three ovens, an industrial-sized refrigerator, and multiple sinks for piling up the dirty dishes. But let’s escape for a moment into a sugar-scented holiday daydream, where the dishwasher is always empty, the floors are never sticky, and nothing ever burns.

Choose the kitchens below you would most like as the backdrop for your holiday cooking and entertaining.

Which modern farmhouse kitchen lights your fire?

Country warmth

City skylights

 

 

 

 

Photos from Zillow listings: Country warmth; City skylights

Which traditional kitchen do you prefer?

Brick beauty

Stone stunner

 

 

 

 

Photos from Zillow listings: Brick beauty; Stone stunner

Choose the contemporary kitchen that makes you swoon.

Modern minimalist

Neutral and natural

 

 

 

 

Photos from Zillow listings: Modern minimalist; Neutral and natural

Which glam kitchen would make your dreams come true?

French dressing

Vintage charm

 

 

 

 

Photos from Zillow listings: French dressing; Vintage charm

Get more kitchen design inspiration on Zillow Digs.

Related:

This Content is provided byZillow Blog

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

Homeowners: Your House Must Be Sold TWICE

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”

The chart below illustrates the changes in home price estimates over the last 12 months.

Homeowners: Your House Must Be Sold TWICE | MyKCM

Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise.


This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

 

Bringing a 1980s Relic Into the Light, Bright Modern Age

It’s never easy to restore an old home, but redesigning a home built in the 1980s – an era not particularly loved for its style – requires imagination.

Debbie Cederlind and Lora Lindberg, Seattle house-flipping pros and owners of Urban Squirrel, recently tackled a Bothell, WA home built in 1989 that didn’t have much going for it on the style front.

“With 1980s houses, it’s a challenge to put character back in,” says Cederlind. “We started with no character, but it felt good at the end. We made it stand out and gave it some specialness that wasn’t there.”

The traditional-style home had already been renovated before Cederlind and Lindberg got their hands on it, but the work was less than desirable.

“There were some hideous paint colors on the wall,” Lindberg recalls. “You could see they were trying to inject character with super bright yellows and reds. And there was a bathroom with no windows. It was livable, but pretty ugly inside.”

Let it breathe

When Cederlind and Lindberg first walked into the home, their main objective was to let some much-needed light inside.

They removed a wall between the kitchen and dining room and opened up the stairwell leading down to the basement. The stairwell was long and completely closed up with a door at the top, so the designers decided to open both sides of the wall.

“We let it breathe a little bit,” Lindberg says.

The kitchen was reimagined – taken from dark and unremarkable to sleek, light and modern, featuring a charcoal-colored island, white open shelving and a shiplap treatment. The designers also covered the appliances with paneling to make them less obvious.

In addition to revamping the kitchen and the main bathroom, which was lightened with a rectangular exterior window and some large-piece tile work in the shower, the designers also altered the awkward layout upstairs.

They decided to close off an outdated half wall that overlooked the living space and front entryway, then create a bedroom to replace the lofted office that previously existed there.

Inject character

The bulk of the work and style added to the home was in the basement. “The space was super creepy and weird and didn’t flow well,” Lindberg says.

Out of this blank, dark and uninviting slate, the designers created two bedrooms, a library, a kitchenette and an additional bathroom. The kitchenette and bathroom feature sliding barn doors, which open up to the large living space downstairs.

The kitchenette is every bit as stylish as the full kitchen, featuring open shelving, charcoal-colored open cabinets and stone counters.

The biggest quandary the designers faced in the basement was deciding what to do with the three posts in the middle of the room. After much deliberation, they turned the posts into a built-in library, adorning it with vintage-style hanging chairs on each side suspended from beams.

“We went around and around, and that was the trickiest thing to figure out,” Cederlind says. “But if you’re a family with kids, you want the whole basement to be a big playground.”

Get the look at home

  • Make your kitchen flow. “Now that we’re doing these open kitchens, people don’t want their kitchen to look like a kitchen. They want it to flow,” Cederlind says. Add artwork, pottery and other accessories to make the room feel less like a kitchen and more like the rest of your home.
  • Consider conversation. “We think a lot about our seating arrangements. We think about conversation and not about TV placement,” Lindberg says. Face couches and chairs toward each other – not the TV – to create a cozy space for chatting with friends and loved ones.
  • Incorporate contrast. “You need the balance of dark and bright,” Cederlind says. If you have dark hardwood floors, don’t feel like you have to match your cabinetry. Creating contrast will prevent your home from looking too dark or dated.

Take the full home tour:

Related:

This Content is provided byZillow Blog

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.

Top 4 Home Renovations for Maximum ROI [INFOGRAPHIC]

Some Highlights:

  • Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most “Return On Investment” (ROI).
  • While big projects like adding a bathroom or a complete remodel of a kitchen are popular ways to increase a home’s value, something as simple as updating landscaping and curb appeal can have a quick impact on a home’s value.

This Content is provided by keepingcurrentmatters.com

This is a Blog provided by Tucker Haynes - Realtor® Buying or Selling Homes

Serving San Antonio New Braunfels, McQueeney, Marion and Seguin Area Real Estate Market

Specializing in Lake and Ranch Living @ www.tuckerhaynes.com

Lakes: Lake Dunlap, Lake Mcqueeney, Lake Placid, Lake Seguin and Meadow Lake

Ranch: Comal, Guadalupe, Hays, and Wilson counties.