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Buying A Home? Do You Know The Difference Between Cost & Price?

Wednesday, January 20, 2016
by Gary and Nikki Ubaldini

As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home.

The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae andFreddie Mac all projected that mortgage interest rates will increase by about three-quarters of a percentage point over the next twelve months.

According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 today if home prices appreciate by the 5.2% predicted by CoreLogic over the next twelve months:

Cost of Waiting | Simplifying The Market

If you're thinking of buying a home, contact The Gary & Nikki Team and put one of our Buyer Specialists to work for you. There's no cost, and their only job is to find you your dream home. 
CALL: 727-787-6995

Lack of Homes For Sale Slowing Down the Housing Market

Friday, January 15, 2016
by Gary and Nikki Ubaldini


The housing crisis is finally in the rear view mirror as the real estate market moves down the road to a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2016 will be the year that the housing market again races forward.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout this winter, supply is not keeping up.

Here are the thoughts of a few industry experts on the subject:

Calculated Risk:

“Low inventory is probably holding down sales in many areas.”

Capital Economics:

“A lack of housing inventory continues to drive developments in the market. As demand has slowly recovered, low inventory levels have weighed on home sales.”

Frank Nothaft, Chief Economist for CoreLogic:

“Many markets have experienced a low inventory of homes for sale along with strong buyer demand... These conditions are likely to persist as we enter 2016.”

Doug Duncan,Chief Economist at Fannie Mae:

“Several factors point to constrained housing affordability in 2016, particularly for first-time home buyers, including slow single-family supply response and limited inventory of starter homes on the market.”

Lawrence Yun, Chief Economist at NAR:

“Sparse inventory and affordability issues continue to impede a large pool of buyers’ ability to buy, which is holding back sales.”

Bottom Line

If you are thinking of selling, now may be the time. Demand for your house will be strong at a time when there is very little competition. That could lead to a quick sale for a really good price. Call The Gary & Nikki Team today if you are thinking of selling - 727-787-6995.

Real Estate Shined as an Investment in 2015

Friday, January 15, 2016
by Gary and Nikki Ubaldini


A survey by The Joint Center of Housing Studies at Harvard University reveals that when a family is buying a home they consider the financial benefits of homeownership along with the social benefits. The survey mentions things like:

  • Paying rent does not make sense
  • Homeownership provides a good financial opportunity
  • Owning a home helps you building family wealth
  • Buying a home is investing in your retirement
  • Home equity gives you something to borrow against

So how did homeownership match up against other investments in 2015? Here is a chart that compares its return on investment against precious metals and the stock market last year:

2015 Return on Investment | Keeping Current Matters

Bottom Line

Not only did homeownership offer all its social benefits. It also was a great investment financially.

Top Reason to List Your House For Sale Now!

Wednesday, January 6, 2016
by Gary and Nikki Ubaldini


If you are debating listing your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes For Sale

The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage:

“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”

The latest Existing Home Sales Report shows that there is currently a 5.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below November 2014 numbers.

The chart below details the year-over-year inventory shortages experienced in 2015:

Housing Supply Year-Over-Year | Simplifying The Market

Anything less than a six-month supply is considered a “Seller’s Market”.

Bottom Line

Let's get together and discuss the supply conditions in your neighborhood to be able to assist you in gaining access to the buyers who are ready, willing and able to buy now! Call The Team - 727-787-6995 or contact us here.

 

Displaying blog entries 1-4 of 4

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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
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