Don’t be fooled by this popular headline, it is misleading. While the statement is accurate it doesn’t mean what you think.
The data that is being used to calculate this statistic compares the average sales price of housing nationally in May 2012 to May 2013. The average price of houses that sold is actually 12% higher.
This does not mean that a house that sold in May 2013 would sell in May of 2013 for 12% more.
What the data shows is that buyers are more active in the higher price segment of the market. This is good news, showing that the housing markets are becoming more healthy across all price ranges. However it does not mean any one property has appreciated 12% in the last twelve months. Good news for the market as a whole, not as good as it sounds for any individual property owner.
Sales of previously owned homes rose by 15.2% in June from one year ago to a seasonally adjusted annual rate of 5.08 million, but they were down by 1.2% from one month ago, according to the National Association of Realtors.
Monday’s report showed that the housing market may be slowly returning to equilibrium after a year in which demand has outstripped supply, pushing up prices. At the current pace of sales, there was a five-month supply of homes in June on a seasonally adjusted basis, up from the 4.9-month supply in May but down from the 6.1-month supply a year earlier.
Schuler Bauer would like to CONGRATULATE & ASHLEY & ROBERT ANKER, winners of our Open House iPad drawing! The Ankers visited an open house at Lakeside Forest, hosted by Bernice Brown, on November 20.
Congrats to Ashley, Robert and Bernice! Many thanks to all who visited an open house, and registered for our drawing.
One lucky Open House visitor between November 6 and December 18, 2011 will win an Apple iPad 2! Registration is easy, just visit a Schuler Bauer Open House, and sign up. It's free to enter, no purchase is required. Drawing takes place on Tuesday, December 20, 2011.
It’s a highly competitive market for home sellers right now. More homes to compete with means that the impression your homes makes - from the curb, and on the inside - matter now more than ever. You can increase your chances of selling faster - and at today’s top dollar - by investing in a select few home improvement projects that have been shown to make a big impact on buyers.
Bad news alert: it might cost you a little time, effort and cash. The good news, though, is that the best projects for quickly increasing your home’s resale value tend to be cosmetic and fairly simple and inexpensive to do. Here are five projects with big-time return on investment for home sellers-to-be, in terms of their power to attract buyers, and to attract dollars from those buyers.
1. Painting: Adding a fresh coat of paint to ceilings and walls is a tried and true way to increase your home’s appeal to buyers. Go for white or neutral tones that help lighten your rooms. (Now is not the time to show off your fascination with fuschia and lime green.) Buyers will have an easier time envisioning how they will infuse their own personalities into your home if they’re looking at a relatively blank slate.
Painting lightens and brightens rooms, instantly removes scuffs and dings and gives every room a fresh, polished feel.
Fresh exterior paint - even if your time or cash budget limits your efforts to accents like eaves, shutters, doors and trims - is also a quick, inexpensive way to polish the look of your home from the curb.
2. Landscaping: Everything you’ve heard about curb appeal is true. First impressions matter - especially if your house is one of eight or nine a buyer has seen in one day. Buyers will be more excited to look at the inside your home if the outside looks clean, charming and inviting. Mow the lawn, trim the...
4 Don’ts When Selling a Home
August 22, 2011 by Melissa Tracey · 9 Comments
Filed under: Staging Tips
By Melissa Dittmann Tracey, REALTOR Magazine
Kelly O’Ryan, an office manager for Coldwell Banker in Lexington, Mass., recently highlighted several tips of what home owners shouldn’t do when trying to sell their home in an article at RISMedia. Here are a few don’ts that made it on their list, see if you agree!
1. Don’t slack off on home maintenance. Houses in need of TLC often attract investors or property flippers, which are known for submitting low-ball offers. To attract offers and the highest bids, sellers should attend to any upkeep and maintenance issues before putting the house for sale.
2. Make sure the home isn’t being overshadowed outside. Nothing kills curb appeal more than a home you’re selling that you can’t even see. Be sure to trim trees or bushes to ensure they aren’t blocking any windows or the exterior of the home.
3. Remove wallpaper. Wallpaper and borders can be a nuisance to remove so you might want to take these personal decor touches down before you list the home. Neutralize the homes in subtle colors that will appeal to the most...