Brian Cheung with Yahoo Finance explains the Fed’s bond buying program in this June 29th article. The Federal Reserve on Monday fired up its facility to directly purchase corporate bonds from the companies themselves, rounding out its bond-buying program as the central bank continues to combat the economic fallout from the COVID-19 crisis. Since May, the Fed has already […]
According to Mark Mathis, VP of Sales for Homes.com, COVID-19 has had more effects on people and the economy than just what is seen. With the CARES Act, many who lost their jobs used the opportunity to postpone their mortgage payments. This was an option that looked attractive but now we are seeing the ripple effect from […]
According to Liz Dominguez, senior online editor for RISMedia, the Federal Reserve has decided to maintain the target range for the federal funds rate at 0 to ¼ percent. This was expected that the Fed would leave interest rates unchanged and near zero in order to continue the flow of credit reeling from the coronavirus. Further the […]
According to Liz Dominguez, senior online editor writing for RISMedia and sourcing from the National Association of REALTORS® (NAR), April marked two consecutive months of the decline in pending home sales. There was a decline in every major market and year over year pending home sales were down 33.8 percent and decreasing 21.8 percent from March. NAR reported this […]
Why not try a higher price for a couple of weeks? If you knowingly chose to over price your home, you would be overpriced during the period of highest potential for buyer activity. You would then lower the price after buyers have already seen your home and decided not to preview it. Price it right during […]
Codependent pricing. Overpricing your home in anticipation of a low offer. Codependency is a behavior in which a party engaging in dysfunctional behavior stays the same while the codependent “enabler” changes their behavior to compensate. In this case, the buyers are the dysfunctional party making low offers, but the seller overprices to compensate. Sellers say: “But I know […]
What external factors affect the value of a home? External influences on value: · Interest rates · New listing · Area competition · Local economy · Builder offerings · Neighbor’s price A common mistake that many owners make is to focus solely on their home when determining value. Yet in dynamic markets, many influencing factors are completely out of their control. We’ve […]
How does the property in your neighborhood affect the price of your home? The value of a larger home is reduced by the influence of smaller surrounding homes. Sometime owners will brag that their home is the “biggest on the block” as a way of puffing value. Actually, when a property is oversized for the […]
Pricing your home for market is an inexact science but we have many sources from which to draw to get as accurate a price as possible. Many times the question is asked “Can we get back all the money we’ve put into our home?” The answer is a definite “well, that depends.” It depends on […]
By all appearances, putting a home up for sale seems a simple process. Once it is on the market you see the information, the pictures, the description, the sign, and postings on the internet including Facebook, Zillow, Trulia, Realtor.com, Twitter and many other sites – as well as email blasts! Sounds pretty methodical. However, there […]