Housing Market Forecast: What’s Ahead in 2021?

By Posted on 3 min read 307 views

While 2020 has faced its fair share of ups and downs, we know one thing to be true: the real estate market not only met expert predictions, it surpassed them, breaking records along the way. With that in mind, there’s one big blaring question right now: will the housing market in 2021 follow the same trajectory or are we facing a possible downturn? Let’s take a deep dive into what leading …

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With Home Values Surging, Is it Still Affordable to Buy Right Now?

By Posted on 3 min read 272 views

Housing inventory is at an all-time low. Realtor.com just reported that there are 39% fewer homes for sale today than there were last year. At the same time, buyer demand remains strong. In a recent newsletter, research analyst Ivy Zelman explained: Although the headwind of severe supply constraints in most markets has contributed to slight moderation in seasonally-adjusted and year-over-year new pending contract growth for two consecutive months (albeit still growing …

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Homeownership Is a Key to Building Wealth

By Posted on 2 min read 400 views

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner: “…a primary home accounts for 90% of the total wealth of a family in the U.S.” How do homeowners gain wealth? Most large …

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Real Estate is a Driving Force in the Economy

By Posted on 2 min read 514 views

As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year. Today’s high buyer demand combined with low housing inventory means we’re seeing home prices  …

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Real Estate Continues to Show Unprecedented Strength This Year

By Posted on 2 min read 598 views

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

By Posted on 2 min read 532 views

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!

By Posted on 1 min read 530 views

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

By Posted on 1 min read 830 views

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

By Posted on 2 min read 482 views

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

By Posted on 2 min read 641 views

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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