This amazing home in Salem sold in a weekend with 5 offers!
There couldn’t be a better time to buy and to have a buyer’s agent on your side!
Here’s my Top 5 Reasons to Use a Buyer’s Agent
1. Inventory is LOW:In this market more than others you can not rely on going to open houses to view
properties. Often when you get there the home will already be under contract. I watch the market
EVERYDAY and often hear of listings before they even go on the market giving you an advantage!
2. Making an offer: My relationships with local agents coupled with negotiation techniques help get my
buyer’s offer accepted in a competitive market.
3. Due Diligence: Buying a house doesn’t stop at an accepted offer. There are inspections, legal
paperwork and due diligence to be done. I am familiar with local inspectors, attorneys, tradesmen so I can
guide you through and avoid pitfalls.
4. Financing: Following the housing crash the market just isn’t the same. There are short sales,
foreclosures, and new loan restrictions. I can help you navigate these different situations and connect you
will lenders that can work with many different scenarios.
5. It is FREE! The buyer’s agent fee is paid by the seller ‐ so why wouldn’t you want a full-time representative working for you?
If you or anyone you know would like to learn more about opportunities in the current market, I’d love to help!
This is the real deal!
There are already multiple offer situations out there. Inventory is so low it is creating a lot of demand. Buy now before even more buyers come out and if you were thinking of selling the next 6 weeks are the perfect time to list your house.
Buying a Home? Consider COST not just Price
See the article and other great statistics and information here -Buying a Home? Consider COST not just Price.
So this is part two but to me for the North Shore this is the most important piece of the puzzle.
There is no inventory right now! Homes that are priced right are selling – immediately at or above asking price. It is common for sellers to get multiple offers. This weekend I saw open houses with 50+ attendants and agents receiving 8 or 9 offers on properties.
So, what does this mean to you as a seller? MORE MONEY, BETTER TERMS, LESS TIME. Who could ask for more?
Here are the details…. 3 Reasons to Sell Your House Today! (Part II).
by THE KCM CREW
- Trulia reported this week that homeownership is 45% cheaper than renting in the United States. Jed Kolko, Trulia’s Chief Economist explained:
“Homeownership is cheaper than renting in all of the 100 largest metros, by a wide margin. Despite the recent price rebound, rents continue to rise faster than prices, and mortgage rates are near record lows.
Homeownership makes the most financial sense for people whose strong credit scores let them snag the lowest mortgage rate and who get the biggest benefit from deducting mortgage interest and property taxes from their income taxes.”
(Trulia’s methodology is explained here.)
This news did not come as a surprise to us as we have reported that today’s rental market definitely favors the landlord. Below is a graph of how rental prices have increased recently and where they are projected to go over the next few years based on a report from Marcus & Millichap.
It cost more to rent than own right now. And you don’t get any of your rent back in the future. History shows us, in the long term, you can build equity in a home. Dr. Ken Johnson earlier this year explained in a post on this blog:
“It appears that homeownership creates extra wealth mainly through its ability to force owners to save rather than through property appreciation. Thus, homeownership appears to be a self-imposed savings plan, which through time leads to greater wealth accumulation as compared to comparable renters. In short, buying a home makes Americans save.”
The Joint Center for Housing Studies at Harvard University released a study last year titled America’s Rental Housing: Meeting Challenges, Building on Opportunities. In the study, they actually quantified the difference in family wealth between renters and homeowners:
“[R]enters have only a fraction of the net wealth of owners. Near the peak of the housing bubble in 2007, the median net wealth of homeowners was $234,600—about 46 times the $5,100 median for renters. Even if homeowner wealth fell back to 1995 levels, it would still be 27.5 times the median for renters.”
What Does This All Mean?
We believe David Shulman, senior economist with the UCLA Ziman Center for Real Estate said it best:
“The American Dream of homeownership may be comatose, but it is not dead, and the wake-up call will come in the form of higher rents.”
If you are thinking of making a move – check this out – Inventory is so low – well priced homes are going quickly for top dollar.