Real Estate Continues to Show Unprecedented Strength This Year

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The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun, Chief Economist, National Association of Realtors “Home sales continue to amaze, and there are …

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7 Reasons For Sale By Owner Fails

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Sellers may be tempted to sell their own home in order to avoid paying agent commission, especially in a hot market with low inventory and high prices, where the assumption is that houses practically sell themselves. However, many FSBOs find selling much harder than anticipated. Below are the top reasons FSBO fails: OverpricingFSBOs don’t usually have a good sense of the market and how their property compares to others for sale …

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Find Prospective Buyers for Your Listings with Reverse Prospecting!

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Reverse Prospecting is a new tool in VESTAPLUS™ that allows Listing Agents to view a list of Buyer’s Agents who have Saved Searches that match their listings. It is available with Active, Active Under Contract, and Coming Soon listings and will not show any client information. As a Listing Agent, there are three ways to access the Reverse Prospecting tool. Member Dashboard ‘My Listed Properties’ SLIMM Dashboard Congratulations Page Upon Creating …

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Q3 2020 Data Supports a Strong Real Estate Market in Los Angeles

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As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. However, as the year unfolded, it became clear that there would be little negative impact on the housing market. The MLS™/CLAW Areas saw a significant jump in both the number of sales and the median price for Single Family Homes during the third quarter …

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Why Pricing Your House Right is Essential

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In today’s real estate market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes: Looking at the sheer …

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Homebuyer Traffic is on the Rise

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One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right. ShowingTime, a leading showing software and market stat service provider for the residential real estate industry, just reported on their latest the ShowingTime …

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Have You Ever Seen a Housing Market Like This?

By Posted on 3 min read 374 views

The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the housing market. Here’s a look at four key areas that are fundamentally defining the market this year. Housing Market Recovery The economy was intentionally …

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The Top Reasons People Are Moving This Year

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Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow, “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place …

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Three of the Latest Reports Show Housing Market Is Strong

By Posted on 2 min read 589 views

The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one. 1. Ivy Zelman’s Real Estate Broker Survey The survey explains that purchaser demand remains strong: “This month’s overall homebuyer demand rating…was easily the strongest sequential gain in our survey history…Strength continues to be led …

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Mortgage Rates Hit Record Lows for Three Consecutive Weeks

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Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 2.98%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this mean for buyers? This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low …

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