To Stage or Not To Stage

Our clients often ask us whether staging a home is an important part of getting their home sold quickly.  It can be. A well staged home does make a difference.

Staging is not just referring to putting furniture into a vacant home. It also refers to what we ask our sellers to do when preparing their home for sale. One of the most basic, yet effective staging strategies is decluttering the home. This could include everything from cleaning out closets to moving out furniture that makes a room look too small. Other staging game plans could include more extreme measures such as replacing carpet, painting or even replacing kitchen counter tops.

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Days on the Market Hits All Time Low

According to recently released data from the National Association of Realtors (NAR), the median amount of time a home spent on the market hit an all-time low of only three weeks in 2017. In Riverside this number is under 20 days in some neighborhoods.

Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract. The time needed to sell a home has dropped substantially since its highest mark of 11 weeks in 2012.

The chart below shows the median weeks on the market from 1987 to today.

Time on the Market Drops to New Low in 2017 | Keeping Current Matters

Bottom Line

If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Give The Ransom-McKenzie Team a call today to get a free property value report. We would love to help you sell your home.

Multi-Generational Households May Be The Answer To Price Increases

Multigenerational Households May Be the Answer to Price Increases | Keeping Current Matters

Multi-Generational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multi generational household – a household with two or more adult generations, or grandparents living with grandchildren – a level that hasn’t been seen in the U.S. since 1950.”

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Feeling Stuck in Place?… You Aren’t Alone

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | Keeping Current Matters

Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.

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Median Days on the Market Drops Again!

Throughout this year the median days on the market (DOM) has consistently gotten lower every month.  When compared to year over year figures from 2016, there is often a 50% drop in the number of days on the market.

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5 Reasons to Hire a Real Estate Professional when Buying or Selling

Whether you are buying or selling a home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

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The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam. Read More

5 Reasons Home Ownership Makes ‘Cents’

The American Dream of home ownership is alive and well. Recent reports show that the US home ownership rate has rebounded from recent lows and is headed in the right direction. The personal reasons to own differ for each buyer, but there are many basic similarities.

Home Ownership Makes Cents

The benefits to home ownership are numerous and varied. Today we want to talk about the top 5 financial reasons you should own your own home. Read More

4 Top Home Renovations for Maximum ROI

We are often asked what the best home renovation would be to prepare a home for sale. Often that question means, “What can I do to my home to get the best Return On my Investment?” Whether you are selling your home, just purchased your first home, or are a homeowner planning to stay put for a while, there is value in knowing which home improvement projects will net you the most “Return On Investment” (ROI) Read More

Riverside Real Estate Update

Prices continue to creep up in the Riverside real estate market.  For a quick and easy update, check out the infographic below.

If you would like monthly updates for your zip code or neighborhood, sign into our website and customize the report just for you.

October 2017 Stats Infografic

Be Ready To Buy

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. In Riverside county for the month of May 2017 our inventory is still very tight with homes staying on the market for an average of only 17 days. In popular zip codes such as 92506 or 92508 that number is even lower. Many homes have multiple offers and are going into escrow within days.

Pre-Approval Should Always Be Your First Step | Keeping Current Matters

If you’re serious about purchasing a home in this market, you need to be prepared and ready to move quickly to get the home you want. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach. Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Get Ready To Buy

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well. Contact the Ransom-McKenzie Team today to discuss your home buying strategy. Don’t forget to register for the Coldwell Banker $20,000 Summer Cash Giveaway for your chance to win $20,000. It might help you get to your down payment goal. Click on the link below to enter!

Coldwell Banker $20,000 Summer Cash Giveaway