States Where Owners Are Likely to Move

States Where Owners Are Likely to Move

Nevada has the highest share of homeowners who are likely to move, according to a new report released by ATTOM Data Solutions. Homeowners in Delaware, Florida, Colorado, and Virginia rounded out the top five places where homeowners are showing the greatest likelihood of moving.

ATTOM Data Solutions, a real estate research firm, culled data from purchase loan applications on residential real estate transactions for its first quarter Pre-Mover Housing Index. The index is based on the ratio of homes with a “pre-mover” flag during a quarter to total single-family homes and condos in a geographic area. An index reading above 100 indicates a home will likely be sold in the next 90 days in a given market.

By metro area, the top 10 highest pre-mover locales are in: Colorado Springs, Colo. (280 reading); Manchester-Nashua, N.H. (213); El Paso, Texas (213); Washington, D.C. (208); Orlando, Fla. (201); Tampa-St. Petersburg, Fla. (200); Las Vegas (199); Charleston, S.C. (198); Nashville, Tenn. (185); and Jacksonville, Fla. (184).

“The pre-mover index provides insight into which markets are poised to see a high percentage of homeowners moving this spring and which markets are likely to see a high percentage of homeowners staying put,” says Daren Blomquist, senior vice president at ATTOM Data Solutions. “Markets with a high pre-mover index tend to be in areas where homes are still somewhat reasonably priced and have a growing job market, allowing for greater upward mobility. Markets with a low pre-mover index tend to be in areas with a struggling job market or with home prices that are out of reach for the average wage earner.”

The metros with the lowest pre-mover index were Cleveland (46 reading); Rochester, N.Y. (48); Boston (49); Pittsburgh (51); and Providence, R.I. (53).

Source: ATTOM Data Solutions

Use Blog Comments to Boost Your Web Traffic

Use Blog Comments to Boost Your Web Traffic

One of the most overlooked and underrated ways to promote your blog or website is within the comment section of other websites and blogs, writes Jayson DeMers, an online marketing and SEO expert for business owners, in a column for Forbes.com. Posting comments may actually be a strategic move to help you get more recognition among peers and prospects to generate more traffic to your website and blog.

The most effective tend to be comments on blog posts that align with your company’s niche and your area of expertise and that also have enough authority and visibility to attract attention to your work, DeMers notes. He adds it’s important, though, to post as an individual and not as your company or organization to personalize it.

Also, prove that you’ve read the post. “Don’t launch into your own opinions immediately; instead, leave a comment that recognizes the core content of the blog,” he writes. “Otherwise, you may come across as self-promotional, or ignorant to the topic at hand.”

You can show off your expertise in the comment section. Offer up a counterpoint to the main point of the blog post or article, but try to reference a statistic to back up your point or offer advice based on your own experience. “This will draw more attention to your comments, and may help you build a bigger following for the personal brand you’re using,” DeMers says.

Make sure you don’t come across as self-promotional, DeMers warns. Avoid pitching your business or services in the blog comments. “This kind of outright promotional behavior is frowned upon by both other readers and blog writers,” he notes.

On your own blog, DeMers says it’s important to be active in the comment section. If a reader leaves a comment, make sure to respond. “Each comment you leave is another chance for you to gain visibility, and allows you to reach out to a new person, so quantity and consistency can add up to big results,” DeMers writes.

Source: “How to Harness the Power of Blog Comments in Your Content Marketing Campaign,” Forbes.com (May 14, 2018)

VA Loan Limits

Maximum loan limits have increased in select counties.

VA loan limits have changed.  This may impact you if you have been pre-approved for a loan amount that exceeds the VA maximum loan limits.

This update is effective for case numbers assigned on or after January 1, 2018 through December 31^st 2018.

VA Loan Limits

Call me today to discuss your county limit and loan options.

Best Tip to First-Time Buyers: Act Fast

Best Tip to First-Time Buyers: Act Fast

A shortage of homes for sale and rising home prices are making it challenging for first-time buyers, in particular, this spring. For those who want to land a home, real estate professionals are urging them to move fast.

The price of an existing home in March was about $250,000, up nearly 6 percent from a year ago, according to the National Association of REALTORS®. Homes are selling faster too, often under contract in about a month.

“The starter house is nearly missing in some markets,” says Jessica Lautz, NAR’s director of survey research and communication.

In Colorado Springs, Colo., real estate pro Jay Gupta says the imbalance between the supply of homes and demand is “unprecedented” and many buyers are being priced out of some areas. Homes that are selling for less than $225,000 are hard to find, he says. Gupta told The New York Times a home listed for $310,000 in the area recently attracted 40 people to a three-hour open house. The home was soon under contract with a buyer offering $30,000 above the asking price.

To increase chances, home buyers should get preapproved for a loan and be ready to act quickly when they find a home they like, Gupta says. They’ll likely need to be less picky too. Pick two or three “must haves” and make those the priority so you can move fast when opportunities arise, Gupta suggests. “You have to be more flexible,” he adds.

Also, home buyers needn’t wait for a 20 percent down payment. More than half of first-time buyers make down payments of 6 percent or less, according to NAR data from 2017. Both Freddie Mac and Fannie Mae support home loans to eligible buyers who put down as little as 3 percent on a home purchase, as does the FHA.

Source: “First-Time Home Buyers Learn to Move Quickly in Tight Markets,” The New York Times (May 11, 2018)

Rising Incomes Provide More Buyer Relief

Rising Incomes Provide More Buyer Relief

Rising incomes are helping to offset recent increases in mortgage rates and gave a boost to housing affordability in the first quarter of this year, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows.

The index showed that 61.6 percent of new and existing homes sold between the beginning of January and the end of March were affordable to families earning the U.S. median income of $71,900. That does mark an increase from the 59.6 percent of homes sold that were affordable to median-income earners in the fourth quarter.

The median family income increased 5.7 percent to $71,900 in 2018, up from $68,000 a year ago. “This wage growth helped to boost housing affordability,” says Robert Dietz, the NAHB’s chief economist. “A growing economy, along with tight inventories and increasing household formations, will lift housing production in the year ahead. But we expect mortgage rates to continue to rise, and this will place downward pressure on affordability.”

Average mortgage rates surged nearly 30 basis points in the first quarter. They averaged 4.34 percent in the first quarter, up from a 4.06 percent average in the fourth quarter of 2017.

Of the 237 metro areas analyzed in the first quarter, the index showed 167 markets saw an increase in affordability compared to the fourth quarter of 2017. Sixty-eight reported a loss and two were unchanged.

The nation’s most affordable major housing market remained Youngstown-Warren-Boardman, Ohio-Pa. In the metro area, 90.9 percent of all new and existing homes sold in the first quarter were affordable to families earning the area’s median income of $60,100. Other affordable major housing markets (in order) were Indianapolis-Carmel-Anderson, Ind.; Scranton-Wilkes Barre-Hazleton, Pa.; Toledo, Ohio; and Harrisburg-Carlisle, Pa.

The most affordable small market is Cumberland, Md.-W.Va., where 98.5 percent of the homes sold in the first quarter are affordable to families who earn the median income of $55,500.

On the other end, for the second consecutive quarter, San Francisco remained the nation’s least affordable major housing market. Just 9.2 percent of homes that sold in the first quarter of 2018 were affordable to families earning the area’s median income of $119,600. California continued to dominate the least affordable markets. These cities fell closely behind San Francisco: Los Angeles-Long Beach-Glendale; Anaheim-Santa Ana-Irvine; San Jose-Sunnyvale-Santa Clara; and San Diego-Carlsbad.

Source: National Association of Home Builders

4 Hot Trends for Outdoor Spaces

4 Hot Trends for Outdoor Spaces

Regardless of its size, a home’s outdoor space should be a showpiece in a listing.

“This year it’s really about making your outdoor space function like an interior space for all things fun, lounging, and entertaining,” Gretchen Kennelly, a San Diego interior designer, told realtor.com®.

Designers offered up some of their trend insights to realtor.com® for homeowners or sellers trying to maximize a home’s outdoor potential, including:

Alternative flooring options

Outdoor rugs have been common in recent years, but more flooring options are emerging, such as porcelain. Porcelain is known as being durable and simple to install, which is adding to its popularity. “Porcelain pavers can create this beautiful transition without creating a huge divide between the two living spaces,” says Joe Raboine, national design and training specialist with Belgard. Ikea’s beechwood deck tiles are another way to enhance a patio or balcony’s flooring without spending a fortune, says designer Christina Harmon.

Vertical gardens

A garden can fit in any space outside; just go up instead of out. Vertical gardens maximize the available space by growing herbs and veggies upwards. Arbors, arches, pergolas, and gazebos can help enhance a vertical garden. “They’ll create the ambience of an outdoor garden ‘room’ and give a sense of height and depth to an otherwise small space,” Raboine says. Read more: The Hot Home Trend of Vertical Gardens

Attention-getting lighting

“This year is the time to brighten up the exterior of your home in unexpected ways,” Michael Amato, creative director at the Urban Electric Co., told realtor.com®. “If you have an all-white painted brick or stucco home, adding lighting in a fun color like blue with gold hardware creates interest. If your house is already painted a fun color, lighting presents a great opportunity to work in a contrasting color for a striking statement.” Hanging stringed Edison-styled bulbs along an outdoor space can create a festive flair to a backyard too.

Blues and greens

Deep blues and greens are on trend this season in outdoor spaces. Fabric cushions and umbrellas are showcasing the color. “This year, it’s all about outdoor spaces that feel luxurious rather than cheesy,” Harmon says. “Think lots of neutrals coupled with gorgeous jewel-toned greens and furniture and accessories that create a truly indoor-outdoor vibe.”

Source: “Outside Is the New Inside, and 7 More of the Year’s Biggest Outdoor Design Trends,” realtor.com® (May 9, 2018)