Call me at (818) 384-5928 to schedule a viewing appointment.
Yvette Betancourt
real estate agent • broker
bre 01903414
keller williams realty encino sherman oaks
Wednesday, August 21, 2013
Wednesday, August 14, 2013
Prediction of Price Growth Will Slow Down
2013 has been a rollarcoast in home prices and setting breaking levels in certain areas. Many buyers are asking if this new trend is a bubble and will it end? Let's take a look.
Since June of last year, home prices have rose by 11.9%. On a seasonally basis (real estate has seasons) there was a 0.6% from May (spring) to June (summer).
According to Wall Street Journal's Nick Timiraos, prices will still rise but not as fast as this previous year. This could mean that the 'bubble' everyone was asking about...isn't a bubble that will burst.
WHY????
Economists from Goldman Sachs Group offered three reasons why home price gains will be moderate:
1) Housing is no longer that cheap. Prices in relations to incomes and that relation to rents - home prices are no longer "undervalued" as they did two years ago. Recent home prices gains have put home prices on a national basis back at "fair value."
2) Sharp spike in mortgage rates led buyers to pause. With the low historical interest rates created an urgency to jump into the market. Since the 1% increase in June, buyers are stepping back and re-considering their options.
3) Biggest drivers of price gains are going to play a smaller role going forward. Home price have increased in part of the decline in foreclosure and distressed homes. Investors are slowing down their purchase because the bargains of last year has dried up.
So.... unit there is new construction which is gearing up to open by next year (go to NewHomeSource for upcoming development communities) - it looks like this upward trend will continue into 2014.
Source: The Wall Street Journal
Since June of last year, home prices have rose by 11.9%. On a seasonally basis (real estate has seasons) there was a 0.6% from May (spring) to June (summer).
According to Wall Street Journal's Nick Timiraos, prices will still rise but not as fast as this previous year. This could mean that the 'bubble' everyone was asking about...isn't a bubble that will burst.
WHY????
Economists from Goldman Sachs Group offered three reasons why home price gains will be moderate:
1) Housing is no longer that cheap. Prices in relations to incomes and that relation to rents - home prices are no longer "undervalued" as they did two years ago. Recent home prices gains have put home prices on a national basis back at "fair value."
2) Sharp spike in mortgage rates led buyers to pause. With the low historical interest rates created an urgency to jump into the market. Since the 1% increase in June, buyers are stepping back and re-considering their options.
3) Biggest drivers of price gains are going to play a smaller role going forward. Home price have increased in part of the decline in foreclosure and distressed homes. Investors are slowing down their purchase because the bargains of last year has dried up.
So.... unit there is new construction which is gearing up to open by next year (go to NewHomeSource for upcoming development communities) - it looks like this upward trend will continue into 2014.
Source: The Wall Street Journal
Monday, August 12, 2013
Home Sellers: Overprice or Underprice your Home on the Real Estate Market?
It's a seller's market with buyers overbidding on properties and this trend doesn't seem to be dying down. When setting an asking price, homeowners are coming across two school of thought:
1) OVERPRICING
Homeowners and agents believe that a higher asking price will draw higher offers from potential buyers. This technique works when inventory is low when there is little "ACTIVE" homes on the market.
2) PRICE BELOW NEARBY PROPERTIES
Homeowners and agents believe that pricing homes below nearby properties by 5% ot 10% will create a bidding war. This technique works great in a heated market and for buyers who are looking for a bargain. The bidding war has seen a potentially of 10% or 15% to the sale price!
Which technique is best?
Every house is different and discussing with a Local Realtor like myself will help you determine with strategy works for your home and you.
For a complementary home value report and our marketing strategies, contact us at www.BetancourtRealEstateGroup.com. We cover Encino, Sherman Oaks and surrounding areas.
Source: WSJ.com
Graphs and Charts: Redfin.com
Thursday, August 8, 2013
Download our NEW real estate SEARCH APP TODAY!!
How to Download your FREE APP:
1) search for “Keller Williams Realty” - it’s a KW icon
2) enter code ‘KW2J1P79A’ at the startup of the app or via “MY AGENT” button to unlock full features of the app for FREE!
Full Features include:
- draw a perimeter on map to see homes for sale, open houses, or rental properties (tablet)
-see what schools and other points of interest nearby
- save searches and listings with notes and add your own property photos
- share with easy! text, email, facebook, twitter
and more!!
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