List your home Archives - Lake Lanier Homes for Sale | Sheila Davis Group -The Norton Agency

What Buyer Activity Tells Us About the Housing Market

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below):

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger than usual, and a lot of that has to do with mortgage rates. Michael Lane, VP of Sales and Industry at ShowingTime+, explains:

“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there . . .”

It’s important to note that mortgage rates hovered in the low 6% range in January, which played a role in the high number of showings. What does this mean? When mortgage rates eased, buyer interest climbed. The jump in home showings early this year makes one thing clear – while rates may be volatile right now, there are interested buyers out there, and when mortgage rates are favorable, they’re ready to make their move.

Bottom Line: An increase in showing activity in January is a good sign that there are buyers who are eager to purchase a home. If you’re thinking of selling your house – give us a call Sheila Davis Group 770-235-6907.

Why Staging Matters, Even in a Seller’s Market, From NAR “National Association of Realtors”

The Sheila Davis Group stages many of our homes using the services of an Interior Designer, Malinda O’Brien with White Dog Home.

(photos are from 3639 N River Rd, Gainesville which was staged, listed and under contract within 3 days!)

Homes may be selling faster, but the right style can help earn the highest ROI.

“Many homes are going under contract the first weekend they’re listed—and sometimes without any preparation for the market. Still, real estate professionals can’t promise sellers their property will stand out and receive the highest offers unless buyers fall in love with the home. That’s where staging makes a big difference! In what ways does staging capture buyers’ hearts for a successful, top-dollar sale? Let us explain.

Help Buyers Emotionally Connect -Staging is about showcasing an engaging, move-in ready home that creates an emotional connection with the buyer. Updating décor with on-trend, inviting style—particularly in living rooms, primary bedrooms, kitchens, and dining rooms—can make a memorable impression. Once engaged, buyers will be more committed and possibly willing to increase their offer, and they may be less likely to change their minds at the last minute or ask for concessions.

Eighty-two percent of buyers’ agents said staging helped their clients visualize the property as their home, according to the National Association of REALTORS® 2021 Profile of Home Staging.

Increase Perceived Value – With staging, you minimize the negatives and accentuate the positives of a property to make the best impression. Start by decluttering and depersonalizing to remove any potential distractions. Then, add a coat of neutral wall color to brighten the space, remove dated window treatments, and strategically arrange furniture and remove bulky pieces. These simple updates will help play up the home’s unique features and increase the perceived value.

More than a quarter of buyers are more willing to overlook property faults if a home is staged, according to NAR’s 2021 Profile of Home Staging.

Help Buyers Better “Visualize” a Vacant Home – There is no question that a dark, empty property will not get the same attention as one filled with on-trend, engaging furnishings and accessories. Not only does it instantly help buyers visualize their furniture in the space and how it will match their lifestyle, but it also creates a more spacious and inviting room.

Create Quality Online Images to Peak Interest – You only get one chance to make a first impression. Nearly all—99%—of millennial home buyers start their search online, according to NAR’s data. Even in a hot market, staging a photo-ready property can directly influence a buyer’s decision to see the home in person and submit an offer.

Stats Show Staging Is Worth the Investment – Staging is an investment that helps maximize the rate of return on the sale of the property—and usually costs less than the first price reduction. With an average investment of 1% of the sale price into staging, about 75% of sellers saw an ROI of 5% to 15% over asking price, according to data from the Real Estate Staging Association (RESA).

A recent survey from the International Association of Home Staging Professionals shows that staging helps sell homes three to 30 times faster than the nonstaged competition. Further, staging can help increase the sale price by up to 20% on average.

For sellers who decide not to stage, the IAHSP survey also shows that the average price reduction on a home was five to 20 times more than what the staging investment would have been.

(Originally published September 27, 2021)

5 Reasons to Sell This Fall

School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

Here are five reasons why you should consider selling your house this fall:

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler.

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Author: The KCM Crew on September 6, 2016 in For Sellers, Housing Market Update

We, at the Sheila Davis Group, would love to help you sell your home or assist you in finding your dream home. Please give us a call for a no-obligation market analysis, 770-235-6907.