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Homebuyers Shouldn’t Worry About 2008 All Over Again

Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.
Two major takeaways from the survey:
42% believe a recession will occur this year or next (another 16% said 2021) 59% believe the housing market would fare the same or worse than it did in 2008 Why all the talk about a recession recently? Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:
The Pulsenomics Survey of Market Analysts The Wall Street Journal Survey of Economists The Duke University Survey of American CFOs The National Association of Business Economics 70% of all respondents to the four surveys believe that a recession will occur in 2019 or 2020 with an additional 18% saying 2021.
However, we must realize that a recession does not mean we will experience another housing crash. Acco..

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5 Reasons To Sell Your House This Spring!

Here are five compelling reasons listing your home for sale this spring makes sense.
1. Demand Is Strong The latest Buyer Traffic Index from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to..

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10 Steps to Buying a Home [INFOGRAPHIC]

Some Highlights: If you are thinking of buying a home, you may not know where to start. Here is a simple list of 10 steps that you will go through to purchase a home. Make sure to ask your agent for details about each step and what else may be required in your area! Content previously posted on Keeping Current Matters

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How to Put Your Housing Cost to Work for You

There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.
The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.
For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases. The full results can be seen in the chart below.

According to the Home Price Expectation Survey, a family who purchased a median priced home this January can expect to gain more than $42,000 over the next five years simply from price appreciation alone.
Bottom Line Your home is one of the only investmen..

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Data Says April is the Best Month to List Your Home for Sale

The spring housing market is off to the races! The inventory of homes for sale is increasing, buyers are out in force, and interest rates have remained low, peaking the interest of buyers and sellers previously on the fence about making a move.
New research from realtor.com shows that the first week of April is actually the best time to list your house for sale! The report used “trends in median listing prices, views per property on realtor.com, home price drops, median days on market, and number of listings on the market over the last three years,” to determine a ranking for every week of the year.
Listing your home in the first week of April contributes 14x more property views, 5% less competition from other home sellers, and results in the home being sold 6 days faster!
Below is a graph indicating the average score for each month of the year.

It should come as no surprise that April and May dominate as the top months to sell. The second quarter of the year (April, May, June) i..

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The Enormous Divide Between the Headline and the Truth

“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” – John Stuart Mill (1840s)
Even back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets.
Just last week, the National Association of Home Builders released a survey revealing:
“Negative media reports making buyers cautious was a significant problem for 48% of builders in 2018, but 62% expect it to be a problem in 2019.”
Even today, good news is headlined with a negative spin in order to get attention. Here are two recent examples from mainstream media:
Actual Headline #1: Cash-out refis are back – will homes become ATMs again? The real story: The headline is accurate – to a point. It is true that the percentag..

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