It’s a Sellers Market

November 2nd, 2017

sellers marketAlmost a decade after the 2008 financial crisis, U.S. home prices have climbed well out of negative territory. Looking back, it’s hard to believe that median home prices nationwide fell nearly 32 percent from a peak of $229,000 in July 2007 to $156,100 in February 2011. That’s a frightening drop. Today looks much different, with Zillow reporting an August 31 U.S. median list price of $254,900.

When is it a seller’s market?

A seller’s market has a lot of indicators, including low home inventory, a growing median list price, and good economic conditions with low unemployment. A good way to determine market status is to find the absorption rate, which is the rate at which available homes will sell over a time period. This simple calculation is used in the real estate industry to predict home prices and future sales. To calculate the absorption rate for a given area, first gather the following:

1. Time Frame (in months)
2. Number of Homes Sold During Time Frame
3. Current Number of Active Homes On Market

First, divide Number of Homes Sold During Time Frame by Time Frame. This equals the Rate of Home Sales. Then, divide Current Number of Active Homes on Market by Rate of Home Sales. This will give the months it takes to sell active homes on the market. An answer of five months or less means home are selling quickly and the absorption rate is high; a seller’s market. Over six months means homes are selling slowly and the absorption rate is low; a buyer’s market. Six months is considered a balanced market.

For example, let’s say in Smallville, 130 homes were sold in 12 months and the current number of active homes on the market is 50. Divide 130 by 12 to get 10.8. Next, divide 50 by 10.8 to get 4.6. Therefore, it will take 4.6 months to sell the active homes on the market in Smallville.

What should a seller do in a seller’s market?

Listing a home during a seller’s market has a lot of benefits, namely, a fast sale. Often, one can get at or above the home’s list price. A seller should be prepared for competitive offers, frequent showings, and a fast move if the home is a primary residence.

What should a buyer do in a seller’s market?

It’s not impossible to buy in a seller’s market, but it can get discouraging. A buyer should consider a number of things. One is a loan pre-approval from a lender. The seller and seller’s agent will not want to waste time showing a property to someone ineligible for a loan. Also, a buyer should be prepared to pay the list price or slightly above. There isn’t much wiggle room in a seller’s market, and low-balling could put a potential buyer right out of contention. Finally, choose a knowledgeable real estate agent in the area. Someone with years of experience across market environments will be a good negotiator and will generally keep his or her buyer’s best interests in mind.

What’s ahead for the market?

Although it’s possible another downturn is ahead, many experts predict a healthy real estate market in upcoming years. In fact, a recent CoreLogic® Home Price Index (HPI™) Forecast™ indicates that home prices will continue to climb, with a 5 percent year-over-year price rise anticipated from July 2017 to August 2018. All things considered, both home buyers and sellers can benefit by learning the dynamics behind market conditions and applying that knowledge to their individual real estate transactions.

Eugene Realty Group has some of the most experienced and caring professionals in the Eugene area. Get more information about the latest market trends, the newest listings, and real estate advice at http://www.eugenerealtygroup.com

ARC Prepares Young People for the Workforce

September 20th, 2017

ARCToday’s youth deserve the best job training skills available. ARC currently offers an exemplary youth jobs path program. This valuable training offer is offered through ARC’s prestigious Registered Training Organization. Since 2001, ARC has been helping young people prepare for the workplace with individually focused job preparation and further job training classes. ARC has been operating successfully in QLD and NSW and counts many rave reviews from satisfied students. ARC is now expanding its reach to include SA and VIC. Students can take customized classes conveniently online. The program teaches necessary communication skills and job preparation techniques.

Read the rest of this entry »

3 Things You Absolutely MUST do to Increase Your Online Sales

July 17th, 2017

I can’t tell you how much time I’ve invested in researching ways to increase my sales online, and I’m sure the day that I stop is very distant in the future. With the way the internet has evolved and the ways it’s being used and viewed, you have to invest the time to stay informed, otherwise you’ll fall behind and someone else will make the sales.Increase online sales

Sales isn’t a difficult thing to master. It’s all about capturing the attention of the potential buyer, at the right place and the right time, with the right product. In today’s market, most of those moments happen on a mobile device and don’t last very long…but if your ducks are in a row, you’ll come out on top. For more information, you can Read more about micro-moments.

With that said, on with the show.

Read the rest of this entry »

How to Set up a Domain Name

September 26th, 2016

Domain name registrationThe amount of work that you will need to do in order to get your online business off the ground will be quite substantial. You should prepare yourself for many hours of hard work. One of the key details that you will need to do before your site can launch is to get your domain name set up. People will not be able to get to your site without a domain name. It is the key to people finding your online business. There are a few steps to the domain name registration process. Here is what you will need to do.

Read the rest of this entry »

How a Personal Line of Credit Can Help

August 9th, 2016

personal line of creditContrary to popular belief, a personal line of credit isn’t just for those who haven’t budgeted properly. It’s a financial product that can help those with savings accounts that have high withdrawal penalties. It can also assist those who haven’t had a chance yet to build up their savings account. Regardless of why you need it, a personal line of credit is a great alternative to typical financial products like payday loans and charge cards, both of which have excessive interest rates and short repayment terms.

Read the rest of this entry »

3 Free Apps You Can Make Money With

January 27th, 2016

Make money with your cell phoneThere’s nothing like getting something for free and being able to turn that something into ongoing profits. With the way technology and the online world have been going, things are moving more and more to mobile applications.

As you know, you can search the Apple Store, Google Play and other sites with an app market.

3 Common Free Apps You Can Make Money With

Read the rest of this entry »

Next Page »