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Gary and Nikki Ubaldini

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What’s Going On with Bidding Wars?

by Gary and Nikki Ubaldini

In a strong seller’s market, like the one we have experienced over the past few years, bidding wars are common and expected. This makes sense! A seller’s market is defined as a market in which the inventory of homes for sale cannot satisfy the number of buyers who want to purchase a home.

 

According to the Cambridge English Dictionary, bidding wars occur when two or more parties repeatedly outbid each other as they compete to purchase something- in this case, a home.

In some areas of the country, first-time buyers have been met with fierce competition throughout their experience. Some have been out-bid multiple times before finally winning a bid on a home to call their own.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), there is currently a 3.7-month supply of homes for sale.

With the current number of houses listed for sale and the level of demand from buyers, this means it would take 3.7 months for all the homes listed to sell if no additional listings came to market. Any supply number under a 6-month supply is considered a seller’s market. According to NAR, the housing market hasn’t had a 6-month supply of homes for sale since August 2012.

Good News for Buyers

A recent report shows that the percentage of houses sold including a bidding war before settling on a final price decreased from 53% in January of 2018 to 13% this year.

One reason for the decline is an influx of homes being listed for sale. Even though the month’s supply number is not increasing, the number of homes for sale is. The chart below shows the year-over-year change in inventory over the last 12 months.

What’s Going On with Bidding Wars? | Simplifying The Market

 

As you can see, the number of homes for sale has started to build over the last eight months. Prior to this reversal, inventory levels had fallen for 36 consecutive months when compared to the year before.

Danielle Hale, realtor.com’s Chief Economist, gave some insight into why bidding wars are less common on a local level this year,

“[Last year] you might have been the only listing in your neighborhood, and you could put your home up at a certain list price and you would likely see multiple offers at or above that list price. That tide is turning this year.

It’s going to depend on what neighborhood you’re in, but we expect it to be more common this year that you won’t be the only listing.”

Inventory in the luxury and premium markets (the top 25% of listings in an area by price), is increasing at a greater rate than the starter home market. As the choices buyers have continued to increase, the likelihood of a bidding war will decrease.

Bottom Line

If you are debating listing your house for sale this year, you may not want to wait for additional competition as inventory continues to rise. Beat the rush of housing inventory that will enter the market and list your home today! Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. 
Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

Preparing to Spring Forward [INFOGRAPHIC]

by Gary and Nikki Ubaldini

Some Highlights:

  • In the majority of the country, this weekend marks the start of Daylight Savings Time as we set our clocks forward an hour on Sunday at 2:00 AM EST.
  • Whether you plan on buying or selling this spring, these tips could help you ‘spring ahead’ of your competition!
  • Spring brings two things: more buyers & more sellers! Get prepared now to stand out in the crowd!

Your home may be worth more than you think. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

If you are thinking of buying or selling a home, contact The Team with over 30 years of experience in Tampa Bay real estate. Contact The Gary & Nikki Team today or call - 727-787-6995.

Home Prices Up 5.73% Across the Country! [INFOGRAPHIC]

by Gary and Nikki Ubaldini

 


Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!

Your home may be worth more than you think. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

If you are thinking of selling your home, let's discuss your options. Contact The Gary & Nikki Team today or call - 727-787-6995.

Cornhole Tournament Raises Nearly $6,000 for Charity

by Gary and Nikki Ubaldini

The Gary & Nikki Team and Harbor Exchange Club recently sponsored the Toss Out Child Abuse Cornhole Tournament held on Jan 26th at Peggy O’s in Palm Harbor. Nearly $6,000 was raised for five local charities. Tampa Bay 211 Cares, Maddy Williams Neighborhood Family Center, Club Emergency Fund, Suncoast Center, and Ready For Life –Mommy & Me Program are nonprofit organizations dedicated to the prevention of child abuse.

There was a big turnout for the tournament at Peggy O’s, even with lower-than-normal temperatures in the 50’s. Participants enjoyed a silent auction, live music all day, great food and drinks from Peggy ONeills, and a 50/50 raffle. All that attended had a great time with prizes going to the cornhole competitors placing in 1st, 2nd, 3rd and 4th place. Many thanks to all that participated and contributed to the prevention of child abuse in our community.



 

Thinking of Selling Your House? This is a Perfect Time!

by Gary and Nikki Ubaldini

It is common knowledge that a great number of homes sell during the spring buying season. For that reason, many homeowners hold off putting their homes on the market until then. The question is whether or not that is a good strategy this year.

The other listings that come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market during this season in comparison to the rest of the year? The National Association of Realtors (NAR) recently revealed the months during which most people listed their homes for sale in 2018. This graphic shows the results:

Thinking of Selling Your House? This is a Perfect Time! | Simplifying The Market

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,520,000.

That number spiked to 1,870,000 by May!

What does this mean to you?

With the national job situation improving and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for homes right now.

Bottom Line

If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition amongst buyers. Beat the rush of housing inventory that will enter the market and list your home today! Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

How To List Your Home for the Best Price

by Gary and Nikki Ubaldini

If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018.

The map below shows the results of the latest index by state.

How To List Your Home for the Best Price | Simplifying The Market

Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly.

This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% appreciation, with the majority of the country gaining at least 4.0%! The prediction for the country comes in at 4.6%. For a median-priced home, that translates to over $14,000 in additional equity next year! (The map below shows the forecast by state.)

How To List Your Home for the Best Price | Simplifying The Market

So, how does this help you list your home for the best price?

Armed with the knowledge of how much experts believe your house will appreciate this year, you will be able to set an appropriate price for your listing from the start. If homes like yours are appreciating at 4.0%, you won’t want to list your home for more than that amount!

One of the biggest mistakes homeowners make is pricing their homes too high and reducing the price later when they do not get any offers. This can lead buyers to believe that there may be something wrong with the home, when in fact the price was just too high for the market.

Bottom Line

Pricing your home right from the start is one of the most challenging parts of selling your home. Once you decide to list your house, let’s get together to discuss where home values are headed in your area! Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

5 Reasons to Love Hiring A Real Estate Pro [INFOGRAPHIC]

by Gary and Nikki Ubaldini

Highlights:

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
  • They are there for you to help with contracts, explaining the process, negotiations, and pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.

If you are thinking of buying a home, or selling, we can help - Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

 

Do You Know How Much Your Home Has Increased in Value?

by Gary and Nikki Ubaldini

Last year we saw headlines about a possible housing market bubble, and many wondered if Americans still felt confident about the value of their homes. Recently, the 2018 Houzz & Home Study revealed:

“Homeowners with mortgages have seen their home equity more than double since 2011, increasing to a record-setting $8.3 trillion in 2017.”

The average homeowner gained $16,200 in home equity between Q2 2017 and Q2 2018 according to the latest release of CoreLogic’s Home Equity Report.

Since 2011 home values have increased significantly throughout the country, with prices rising by 5.1% in 2018 alone. When surveyed, homeowners revealed the top four reasons why they felt their homes had increased in value.

  1. Desirable Location
  2. Improved National Economy
  3. Improved Local Economy
  4. Low Home Inventory in My Area

As we can see, not only does the data show that the homes have appreciated, but homeowners also believe they know why. Many have taken advantage of the opportunity to use their newly found equity to sell their current house and move up to their dream home!

2019 will be a good year for the homeowners that still want to take advantage of their home equity! CoreLogic forecasts that home prices will increase by 4.8% by the end of the year.

Bottom Line

If you are a homeowner who would like to find out your current home value, let’s get together to discuss the hidden opportunities in your home! Contact The Gary & Nikki Team today or call - 727-787-6995. You can also Get a FREE, INSTANT home valuation here.

The Difference Having a Professional on Your Side Makes

by Gary and Nikki Ubaldini

In today’s fast-paced world, where answers are a Google search away, there are some who may wonder what the benefits of hiring a real estate professional to help them in their home search are. The truth is, with the addition of more information, comes more confusion.

Shows like Property Brothers, Fixer Upper and the dozens more on HGTV have given many a false sense of what it’s like to buy and sell a home.

Now more than ever, you need an expert on your side who is going to guide you toward your dreams and not let anything get in the way of achieving them. Buying and/or selling a home is definitely not something you want to DIY (Do It Yourself)!

Here are just some of the reasons you need a real estate professional in your corner:

There’s more to real estate than finding a house you like online!

There are over 230 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to ensure you achieve your dream?

You Need a Skilled Negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

What is the home you’re buying or selling worth in today’s market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

Today’s real estate market is highly competitive. Having a professional who’s been there before to guide you through the process is a simple step that will give you a huge advantage!

If you are thinking of selling your home, we can help - Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

13536 Forest Lake Drive - Under Contract In ONLY 6 DAYS!

by Gary and Nikki Ubaldini

Largo home under contract in less than a week with The Gary & Nikki Team.

13536 Forest Lake Drive

Owners tried selling themselves (FSBO) - no sale.  Then, listed with another real estate firm, no sale.

Listed with the Gary and Nikki Team- CONTRACT PENDING in 6 days!

With over 30 years of experience in Tampa Bay real estate, The Gary & Nikki Team can sell your home fast and for top dollar!

If you are thinking of buying or selling a home, we can help - Contact The Gary & Nikki Team today or call - 727-787-6995.

Take the first step in getting your home on the market. Find out how much it could sell for.
Get a FREE, INSTANT home valuation. Click HERE.

Displaying blog entries 1-10 of 188

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Contact Information

Photo of Gary and Nikki Ubaldini Real Estate
Gary and Nikki Ubaldini
Keller Williams
30522 US 19 N., Suite 107
Palm Harbor FL 34684
(727) 787-6995