WHY HOME SALES DROPPED IN MARCH…..

If you’ve been following housing market news this year, you may have been surprised by the latest home sales numbers to come out this week.  Sales of existing homes stalled at 4.92 million, dropping 0.6% in March from February.

With the recent market recovery of 2013 and the anticipation of a hot spring real estate market, many people are wondering what is going on?

THE PROBLEM IS LACK OF HOMES.   There’s plenty of demand from buyers, but just not enough to choose from on the market.   Most areas are experiencing multiple bids, and many buyers are waiting daily for new homes to come up for sale.

Some sellers are also being affected as well.   Sellers are seeing how difficult it is to find a home right now and they are not confident that if they sell their home they will be able to find a new one to move into.

Despite the decline in March sales from February, home sales were still 10.3% higher than the same month a year ago, marking the 21^st consecutive month of year-over-year increases. That’s good news, and a good indicator of how the market is trending in the big picture.

Demand is still strong, according to the National Association of Realtors, which reported buyer traffic is 25% above a year ago. But the drop in available homes has put upward pressure on prices. And some buyers are getting frustrated and priced out.

SELLERS:  If you didn’t have enough equity to sell your home last year, you may be able to sell now.  Talk to a Realtor today and take advantage of the recent up turn in pricing and the current surplus of buyers.  Find out if you have enough equity in your home to make the move you have been waiting for.

BUYERS:  It is very important to have a Realtor send you homes daily as they come on the market.  If you are looking to buy a home right now you will have to be fast and be prepared for the current conditions.  Your local Realtor will help you navigate today’s market.

• Kari Cross
• Intero Real Estate Services
• 925-584-1640
• kcross@interodb.com

SHOULD I LIST MY HOME FOR SALE DURING THE HOLIDAY SEASON?

Before you know it Thanksgiving and Christmas will come and go and we will be celebrating the 2012 New Year…. time has been flying by!  Many sellers struggle when it comes to deciding to list their homes during the holiday season.

Contrary to what most people think, Thanksgiving to New Years is a very busy time for Real Estate Agents.

Many sellers take their homes off the market during the holiday season so their family will not be bothered.  Having fewer homes on the market is always a plus when selling a home – less competition for your home.  As a seller you can use the holiday to your advantage.  Decorations can be used to make your house look and feel very appealing to buyers.

Some buyers are very motivated and need to purchase a home before the end of the year.  This can be a huge advantage for the sellers.  Buyers looking for a home during the holidays are usually serious buyers.  Your more likely to have people looking to purchase sooner rather than someone who is just out checking the market.  Many buyer may have holiday time off work and use that time to find a new home.

Contact me for more information on listing your home for sale.

FINDING THE RIGHT HOME

Many things go into picking the right home and for each buyer the list might look a little different.  Neighborhood, number of bedrooms and bathrooms, size of the home, single or multi-level, yard size, age of home, local schools, and of course price are just some of the things to consider when looking at homes.  It is smart to start with a list of things you would like and then prioritize the list of most important on down.  It is important to decide what thing you must have verses which things would be nice to have.  Making this list and having a clear picture of what you are looking for will help you narrow down possible homes even before you start the looking process.

The internet is a great tool in looking for homes that might match your criteria, using a Realtor is an important tool all home buyers should also utilize.  A Real Estate Agent can assist you in many ways and you can benefit from their knowledge and experience at no cost to you!  Local Realtors can have access to homes coming on the market before they are available to the public on the internet, they have knowledge about the community and market that can benefit you when writing an offer, they have access to local inspection companies, title companies, lenders, etc.  They can provide you legal protection on the purchase of your new home.  Realtors can schedule and assist in many of the home buying appointments saving you from having to take extra time off work.  Again all FREE of charge.