Real Estate Update: 2014 Is a Great Year to Sell!
On Feb. 25, 2014, the S&P Dow Jones released its Home Price Index showing national prices were up 11.3 percent as of year-end and that 2013 was the best year since 2005! However, experts feel that “gains are slowing from month-to-month and the strongest part of the recovery in home values may be over,” according to David M. Blitzer, chairman of the Index Committee at S&P Dow Jones. "Recent economic reports suggest a bleaker picture for housing," he said, citing weak numbers in existing-home sales and new construction. Also higher home prices and mortgage rates are taking a toll on affordability.
The Demand Institute, a non-advocacy, non-profit think tank jointly operated by the Conference Board and Nielsen, also released a new report. "Now, with prices firmer and the number of distressed or foreclosed properties down, the market is stabilizing. More homeowners are looking to sell than previously, so inventories will rise; that and the expected rise in mortgage rates and only tepid median household income gains will moderate future house price rises."
So if you are thinking of selling, 2014 would be a great time to reap the reward of recent price gains. If you are thinking of buying, be careful, do your homework and do not pay more than you can live with when prices adjust downward.
When it comes to buying or selling real estate, the knowledge and experience of a full service real estate and mortgage professional can save you a lot of time and money!
Websites, Syndication Services and Data Distribution Agreements
- MLS Listings.com (Listing syndication service)
- Point2 Syndication (Listing syndication to more than 25 real estate website destinations)
- Realtor.com (Consumer search portal)
- Homefinder.com (Consumer search portal)
- PropertyMinder.com (Consumer and Broker search portal)
- Homesandland.com (Consumer search portal)
- ListHub.com (Listing syndication service)
- MontereyHerald.com (Consumer search portal)
- PaloAltoOnline.com (Consumer search portal)
- SFExaminer.com (Consumer search portal)
- Trulia.com (Consumer search portal)
- MOVE, Inc. Sites (Including Realtor.com and FIND)
- RPR (REALTOR® search portal)
- CoreLogic InfoNet
Your satisfaction is my success!