Blog - Page 11 of 134 - J.P. Cook

Just like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market. Many potential sellers believe that waiting until Spring is in their

Thinking of Selling? Do it TODAY!!

March 7, 2017

For Sellers, Housing Market Updates

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That headline might be a little aggressive. However, as the data on the 2017 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! The February numbers are not in yet, but the January numbers were sensational. Lawrence Yun, Chief Economist

Filing Taxes as a New Homeowner

March 6, 2017

tax tips, taxes

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For many new homeowners the year you buy your own home will also be the first year you do not take the standard deduction when doing your taxes. It can be confusing to know what is eligible for itemization and what is not. Most homeowners will end up itemizing their loan costs and fees, mortgage

Existing Home Sales Reach Highest Mark Since 2007

March 4, 2017

For Buyers, For Sellers, Housing Market Updates

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Highlights: Sales of existing homes reached the highest pace in a decade at a seasonally adjusted annual rate of 5.69 million. January marked the 59th consecutive month of year-over-year price gains as the median home price rose 7.1% to $228,900. NAR’s Chief Economist, Lawrence Yun had this to say, “Much of the country saw robust

Where Did Americans Move in 2016?

March 3, 2017

For Buyers, For Sellers, Infographics

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Some Highlights: For the 5th year in a row, the Northeast saw a concentration of “High Outbound” activity. For the first time ever, South Dakota held the top spot for “High Inbound” states. Much of America’s outbound activity can be attributed to Boomers relocating to warmer climates after retiring. What’s Your Home Worth? Search for

Ben Carson Confirmed as HUD Secretary

March 3, 2017

Housing Market, Real Estate

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By a vote of 58-41, the U.S. Senate confirmed Dr. Ben Carson on March 2, 2017 as the next Secretary at the Department of Housing and Urban Development. National Association of Realtors® President William E. Brown laid out the challenges that lie ahead, saying Realtors® look forward to working with Secretary Carson to advance home ownership and

Access: A Key Component in Getting Your House SOLD!

March 2, 2017

For Sellers, Selling Your Home

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So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition,

Mortgage Rates Impact on 2017 Home Values

March 2, 2017

First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers

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There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors

Instant Reaction: S&P/Case-Shiller Index

March 1, 2017

Case Schiller

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The following is NAR Chief Economist Lawrence Yun’s reaction to this morning’s S&P/Case-Shiller index national home-price index reading for December: “Rising mortgage rates should not be boosting home prices, yet home values accelerated with a 5.8% annual gain in December (according to the S&P/Case-Shiller home price measurement). Price gains had been a tad lower in the

How Long Do Most Families Stay in Their Home?

March 1, 2017

Home Seller Tips, Housing Market Updates, Selling Your Home

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The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost