Seller Shortage Plagues Many Markets

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Piece of the PuzzleThe low inventory of for-sale homes is creating a seller’s market throughout the country.

“Buyers and agents are literally waiting for the next house,” says Rick Turley, president of Coldwell Banker Residential Brokerage for the San Francisco Bay Area.

The supply of existing homes for sale reached nearly an eight-year low in January, according to the National Association of REALTORS®. Nationwide, there is a 4.2-month supply of existing homes for sale.

A more balanced market with a six-month supply will occur when home prices rise another 20 percent, says John Burns, CEO of John Burns Real Estate Consulting.Such an increase would then lure sellers to match demand coming in from renters and investors, and the rise in prices will also lead to more home building, Burns says. Still, a return to healthy inventory levels could be years off, some say.

“Many home owners can’t afford to sell because they don’t have enough equity to put into buying another house — or would have to write a check to sell,” USA Today reports. “The supply of distressed houses for sale is thinning as the foreclosure crisis recedes, especially in some states. Home building, while improving, is still at low levels. And, after years of holding on, few home owners want to sell when prices are just coming off the bottom, REALTORS® say.”Source: “Home sellers are scarce as spring buyers stir,”

Read the full article: USA Today Feb. 26, 2013
via Seller Shortage Plagues Many Markets | Realtor Magazine.

Is California Real Estate A Good Investment?

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California-home-prices-a-history_72

Record Low Inventory + Investor’s Cash
= Bad News For Home Seekers

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Beware!A recent front page article in the Los Angeles Times highlights the difficulty home seekers are having finding a home, especially when competing with large institutional investors with war chests of cash.

Click here to read the full article (17 Feb 2013 Los Angeles Times By Alejandro Lazo)

Upgrading Your House To Sell It?
Make the First Impression Count

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Piece of the PuzzleUpdating the outside of a home pays off, according to this year’s Cost vs. Value Report. Real estate professionals ranked exterior improvement projects as winning the buyers’ eye and providing sellers with the most return on investment.

If your clients are wondering what home improvement projects will give them the best return on the sale of their home, tell them to think “curb appeal.”

When buyers are shopping for a home, the exterior can make (or break) the first impression. According to the 2013 Cost vs. Value Report, exterior replacement projects are among the most valuable home improvements that sellers can currently invest in, starting with the front door.

A steel entry door topped this year’s survey with an estimated 85.6 percent of the costs recouped at resale. The steel door replacement is also the least expensive of the 35 midrange and upscale remodeling projects included in the survey, costing $1,137 on average.

This is the 15th year that Remodeling magazine — in cooperation with REALTOR® Magazine — has released the Cost vs. Value Report. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.

Click here to see a full list of the Top 10 Projects that add the most value to your home and to read the full article.

January 2013 | By Erica Christoffer
via 2012-13 Cost vs. Value: Make the First Impression Count | Realtor Magazine.

Just becase you liv in Wine Countrie
It don’t mean you can spel…

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Is this something like coming attractions at the movie theater?

on coming traffic