homes for sale

Real Estate Prices Up - Inventory DownThe housing market, which has struggled with an oversupply of homes for years, faces a new problem now: a lack of attractive inventory.

There were more than 2.19 million homes listed for sale at the end of September, down 20% from a year earlier, according to a new report from Realtor.com. That is the lowest level since the company began its count in 2007.

The report is indicative of how the U.S. housing market just can’t seem to catch a break. While falling inventories normally are a sign of health, because reduced competition can boost prices, that isn’t the case right now.

Instead, people are pulling their homes off the market rather than try to sell them at today’s discounted prices. At the same time, banks have been more slowly moving to take back properties through foreclosure ever since processing irregularities surfaced last fall, temporarily reducing the supply of foreclosed properties. The shrinking supply isn’t driving up prices because demand is soft.

The drop in inventory also suggests there are fewer opportunities for buyers and sellers to make deals. That can further chill sales, as buyers become afraid to overpay while sellers are similarly cautious about underpricing their homes.

The Realtor.com data include only single-family homes, townhouses and condominiums listed for sale on more than 900 multiple-listing services across the country. They don’t include unsold homes listed as “for sale by owner” or other properties that don’t find their way onto the multiple-listing services.

Mortgage rates have fallen to their lowest levels in decades, but demand remains weak and credit standards tight. According to the Mortgage Bankers Association, mortgage applications for home purchases were 3% below year-ago levels during the first week of October.

 

Home and Commercial Inspections in the Columbia SC area is our specialty! Every year we help hundreds of clients save tens of thousands of dollars, by responsibly finding and exposing conditions that threaten property, value and safety. To learn how we may be able to serve you, please click and read, or call 803-261-5810.

While it’s a good time to buy a home, it’s a brutal time to sell. So it may pay to make your home look its best. One way to do that is via staging…

Have you ever staged a home for sale, or know of someone who has? We’d love to hear how it went? Just use the comment link below to tell us about it.

Home and Commercial Inspections in the Columbia SC area is our specialty! Every year we help hundreds of clients save tens of thousands of dollars, by responsibly finding and exposing conditions that threaten property, value and safety. To learn how we may be able to serve you, please click and read, or call 803-261-5810.

If you’re selling a home, you’re probably considering a real estate agent. Then again, you might be thinking how much you might save by selling your home yourself.

Real estate agents have their good points, and selling a home privately is not for everyone. Before you try, make sure you read the following tips.

Should I use a real estate agent?

There are many benefits to using a professional real estate agent. First of all, real estate agents are professionals. They have training in how to market and sell your home. They can advise you on realistic prices, help you make deals, and provide general expertise.

Real estate agents also network among each other. They have access to online and offline advertising you won’t be able to use, which means they can sell your house more quickly and expose it to more people. Also, if someone approaches a real estate agent looking to buy a house, they are less likely to contact someone selling as a for sale by owner (FSBO) unless they are working as excluisive buyer agents — they will network with each other to maximize fees.

So using a real estate agent probably means your house will sell more quickly and efficiently. If you’re in a hurry, this might not be the time to mess around with private sales.

If, on the other hand, you have plenty of time, it can’t hurt to put your house on the market privately first — you can always contact an agent later if it doesn’t sell. You’ll save money on real estate fees and be able to offer your home at a lower price since everything you collect will be profit.

However, keep in mind, if a home is on the market for a long time as a FSBO, then you list it, it does take away some of the newness of the listing in the fact that it’s already been for sale for some time.

If you decide to go it alone, be sure to ask a realistic price, advertise everywhere you can, and tell everyone you know that you’re looking to sell.

Home and Commercial Inspections in the Columbia SC area is our specialty! Every year we help hundreds of clients save tens of thousands of dollars, by responsibly finding and exposing conditions that threaten property, value and safety. To learn how we may be able to serve you, please click and read, or call 803-261-5810.

When it comes to looking at homes for sale, many first-time buyers often find the task as one that can be both exciting and generally overwhelming. Keep a few things in mind both before and during your search, which may help you to narrow things down and could potentially provide better results.

Think about how much you can afford in the scheme of things and long before you start looking. Many people tend to go for the entire loan or what they may qualify for, even if they can’t really afford it in the end. It’s also important to think about other outside expenses you also have under your belt, not to mention new ones that may occur after your purchase such as taxes, HOA fees and so on.

Many people forget to take into consideration what expenses they may currently have, not to mention ones that may impact them after their purchase of a home. Make sure you factor in current expenses you might have. You should also add whatever expense you’ll have with your new home, based on the future mortgage, and any expense associated with the mortgage.

Figure out what will be reasonable for you in the long run, particularly when it comes to your mortgage and key elements such as space and other factors you’ll need in your new home. Setting a budget for yourself and then aiming to stick to houses that meet this price range can often help to avoid the hassle of being tempted by unrealistic houses or homes out of your price range.

It’s good to write up a list of things you’ll need, would like to have, or don’t wish to see. Space is also important, as well as whether or not you’re wanting something that’s detached or something that’s fairly easy to keep up with and maintain.

Things on your list should generally start with the basics. For example, think about how many bedrooms you need, if you’re OK living wall-to-wall with neighbors, if you need a back yard or one that’s fenced, etc. If you prefer on-site laundry or other amenities, then these are good to think about as well.

It’s also crucial to ensure that your expectations are also realistic. If you’re on a strict or low budget and have a desire to live in a popular and likely expensive neighborhood, then you may have to go with a smaller residence or choose to move to a different place in order to get a larger-sized one.

In the end, speaking with a professional agent about homes for sale can often be a great way to gain further help and insight. Many of them have a good idea as to what’s out there, and they may even be able to locate hard-to-find deals that could potentially be in your favor. However, planning ahead can be a great way to help them find what you’re looking for.

If you have questions or comments about these tips for buying a home, please comment below. We’d love to hear from you.

Home and Commercial Inspections in the Columbia SC area is our specialty! Every year we help hundreds of clients save tens of thousands of dollars, by responsibly finding and exposing conditions that threaten property, value and safety. To learn how we may be able to serve you, please click and read, or call 803-261-5810.

If trying to sell a home, it’s always a good idea to talk about ‘presentation’ (how your home will look to prospective buyers when they walk through) with your real estate agent, or, if selling by yourself, consider a home stager…

Questions or comments abot this video? We’d love to hear from you. Use the comment link below to leave us your thoughts.

Home and Commercial Inspections in the Columbia SC area is our specialty! Every year we help hundreds of clients save tens of thousands of dollars, by responsibly finding and exposing conditions that threaten property, value and safety. To learn how we may be able to serve you, please click and read, or call 803-261-5810.