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July Home Sales Ignite Momentum for Back Half of 2019

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Following an unseasonal decline in home sales in June, July home sales bounced back ending a nine month climb of year-over-year inventory growth, according to the July 2019 RE/MAX National Housing Report. Low-interest rates appear to have brought more buyers into the mix leading to cautious optimism about the momentum for the remainder of 2019 and a strong finish to the year.

“The housing market has been a bit uneven since the early spring, with each encouraging month seemingly followed by one with lukewarm results. It’s possible the housing market has finally shaken some mud off its boots and can maintain its momentum for the back half of the year,” said RE/MAX CEO Adam Contos.

While lower interest rates help affordability and may entice homebuyers to begin their home search, accelerating price increases dampen options for buyers and may leave sellers hanging onto their properties longer than expected. Home prices have risen, year over year, in 88 of the last 90 months dating back to February 2012. Nevertheless, it’s encouraging that record prices have not hindered a strong summer selling season in July.

Ongoing demand and favorable mortgage rates will be an indicator of progress as we inch closer to year-close. Here are some highlights of the latest data found in the RE/MAX National Housing Report:

  1. Home prices continue to soar.

Despite a 0.7% decrease in Median Sales Price from June 2019, the median of all 53 metro Median Sales Prices was up over 9% from July 2018. In fact, five metro areas increased year-over-year by double-digit percentages with the largest increases seen in Wichita, KS, Cleveland, OH and Cincinnati, OH.

  1. Inventory Remains Constricted Despite Months of Growth.

The number of homes for sale in July 2019 was down 2.2% from June 2019 and down 1.4% from July 2018. Based on the rate of home sales in July 2019, the Months Supply of Inventory decreased to 2.7 compared to 2.9 in June 2019, and decreased compared to 3.3 in July 2018. A six months supply indicates a market balanced equally between buyers and sellers.

  1. Home sales snapped back.

A drop in home sales from June to July is typical in the report’s 53 metro areas. But the 0.2% decline from June to July 2019 was by far the smallest month-over-month decline since July 2013. And while June sales failed to top May for only the second time in the report’s 10-year history, July sales set a report record for the month. 

Prospective homebuyers, are you ready to make your move? Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals.

Blog courtesy of RE/MAX Blog

Spring Selling Season Blossoms Into Summer – What You Need to Know About the Housing Market

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Good news, homebuyers and sellers! There’s plenty to smile about as the spring selling season, which saw an uptick in May home sales and a growth in inventory (representing the most units for sale since August 2016), transitions to the busiest real estate season of all: summer.

According to the RE/MAX National Housing Report, homes sold quickly in May – in an average of 47 days – making it the second-fastest May average in the 10 years of the report. Couple that with more homes for sale and moderating price increases, and it reveals a sign the market is operating more efficiently right now.

Some highlights from data in the most recent RE/MAX National Housing Report:

Home sales are up year-over-year, ending a 9-month streak of declines.

The average number of home sales is up 15.3% compared to April 2019 and up 0.4% year-over-year – marking the first year-over-year gain since July 2018. As mentioned, homes aren’t sitting on the market long, meaning sellers looking to make a quick move may experience faster results.

Price increases are beginning to moderate.

May’s median home price of $259,500 in the report’s 54 markets was up 3.4% year-over-year, representing the lowest May increase since 2011. Sellers are still enjoying some price gains with a double-digit increase in median sales price in Milwaukee at 14.2%, Boise, Idaho, at 13.6% and Albuquerque, New Mexico, at 10.2%. Moderating price increases and a growth in home sales are the best of both worlds for buyers and sellers. Buyers feel a bit of relief, while sellers walk away with equity.

Inventory continues to improve.

The number of homes for sale in May 2019 was up 4.5% from April 2019 and up 4.9% from May 2018. This sets a report record for the highest May growth. More homes on the market means buyers have a greater selection to choose from, which may ease some of the stiff competition and bidding wars that come with low inventory.

You can find more data in the latest RE/MAX National Housing Report. Ready to make a move? Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals.

Blog courtesy of RE/MAX Blog

3 Things to Know About the Housing Market Right Now

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Home sales in April increased over March – by more than 11% – and were happening faster too, according to the latest RE/MAX National Housing Report. Instead of spending an average of 59 days on the market, as homes were doing in March, homes in April were selling a week quicker, in an average of 52 days. Stronger buyer interest coupled with realistic price expectations by sellers advanced the market’s move toward more balanced conditions.

Some highlights from data in the RE/MAX National Housing Report:

Home sales are up month-over-month but slightly down year-over-year.
There was a year-over-year sales decline of 1.1% in April, marking the ninth consecutive month of year-over-year decreases. But the April sales dip was the smallest during that time. It’s also important to note an April-over-March increase of 11.2%, which is an April-over-March record for the 10-year history of the report.

Prices continue to climb, but at a slower rate.
April’s median home price of $251,000 in the report’s 54 markets was up a mere 2.1% – the smallest year-over-year April increase in eight years. Four metro areas increased their median home price year-over-year by double-digit percentages, with the largest gains in Boise, Idaho, at +14.8% and Birmingham, Alabama, at +13.8%.

Inventory is improving.
The number of homes for sale in April 2019 was up 3.3% from March 2019 and up 4.8% from April 2018. This marks the seventh consecutive month of year-over-year growth in number of homes for sale.

You can find more data in the latest RE/MAX National Housing Report and if you would like to discuss how this impacts you, contact me today. 

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals.

Blog courtesy of RE/MAX Blog

Good News for Buyers and Sellers This Spring Selling Season

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Whether you’re planning on buying or selling a home, there’s good news to report as the spring selling season approaches. Slowing sales and growing inventories benefit buyers while record prices benefit sellers, according to data in this month’s RE/MAX National Housing Report.

“Trends of five months or more often indicate significant shifts, and the year-over-year trends in declining sales and rising inventory have both reached that length now,” said RE/MAX CEO Adam Contos. “The big picture supports an ongoing return to more balanced conditions, which is beneficial to buyers and sellers.”

Inventory Bounces Back
Inventory grew 5.8 percent over February of 2018, marking the fifth consecutive month of growth following a decade-long trend of shrinking inventory. Of the 54 metro areas surveyed in February 2019, the overall average number of home sales is down 4.2 percent compared to last February.

Rising Median Sales Price 
Bucking downward trends, the Median Sales Price increased to $240,000, a year-over-year gain of 5.5 percent and a February record in the 10-year history of the report. Four metro areas increased year-over-year by double-digit percentages, with the largest increases seen in Boise, Idaho; Cincinnati, Ohio; and Wilmington/Dover, Delaware.

Home Sales Down
Home sales in the 54-market report have declined year-over-year for seven consecutive months, though February’s downturn of 4.2 percent was the smallest since the 1.1 percent drop that started the streak in August 2018. Leading the month-over-month sales percentage increase were Houston, Texas; Birmingham, Alabama; and Raleigh-Durham, North Carolina.

“The next few months will determine whether the shift brings a wave of buyers into the market for the spring selling season,” added Contos. “Members of our network are reporting high local demand along with a need for even more inventory. The optimism for a solid spring exists — and a more balanced market certainly contributes to it.

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals. 

Courtesy of RE/MAX Blog

Prices Still Rule the National Housing Market; Inventory Catches a Break

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Six straight months of declining home sales have resulted in one of the largest year–over–year inventory increases in at least 10 years, according to the most recent RE/MAX National Housing Report.

What does that mean to the average homebuyer and seller? If you’re a buyer, it’s good news — you potentially have more homes to choose from! It’s been a while since the National Housing Report has reflected a rise in inventory, especially in popular metro destinations.

If you’re a seller, there’s good news for you too. According to January data, the price of homes continues to rise across the country. That said, now more than ever, sellers must be in tune to their local housing market and aware of prices, along with trends that are selling homes faster. For guidance, turn to me, your local professional real estate agent.

Here’s a simple breakdown of the latest data found in the RE/MAX National Housing Report:

    1. Price is still king
      The median sales price jumped to $234,000 — an increase of 4.6 percent over the same month last year and the record for a January report.
    2. Inventory is on the rise
      Inventory grew year-over-year by an average of 6.4 percent across the report’s 54 U.S. metro areas. January marked the fourth consecutive month of year-over-year inventory growth — reversing a decade-long trend of shrinking inventory.
    3. Home sales are declining
      Year-over-year home sales dropped 11 percent. As noted, that’s good news for buyers because inventory is growing. And for sellers, it’s a good idea to work with an expert agent to determine the best list price suited to your local housing market.

You can find more data in the RE/MAX National Housing Report. Ready for the spring selling season? Contact me today. 

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals. 

Could the Year of the Pig Prove Lucky for Real Estate?

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

As the Chinese New Year ushers in 2019 as the Year of the Pig, there are strong signs that point to this year as a time of good fortune and blessings. Could you put it to work for you in real estate? The 12th symbol of the Chinese zodiac calendar, the pig is said to be a symbol of wealth, and Chinese astrologists suggest that 2019 may be a great year to invest and possibly make some money. For those born in the Year of the Pig — 1935, 1947, 1959, 1971, 1983, 1995, 2007 and 2019 — this is your year! But even if you weren’t born in the Year of the Pig, you can still put all those positive characteristics to work for you when it comes to buying or selling a home.

OPTIMISTIC OUTLOOK
It is difficult to find another zodiac sign with as much optimism and positivity as the pig. Even with slowing home sales, economic growth remains solid and the Federal Reserve is holding off on any interest rate increases – making 2019 very inviting to first-time homebuyers, downsizers or current homeowners searching for an upgrade. Pigs are known to attract success — so set those priorities and get to work!

SEIZE OPPORTUNITY
It is said that those born in the Year of the Pig will have good luck in investment; now may be the time to pounce on a property while everyone else is stuck on pause. Inventory is bouncing back and more homes are within an affordable reach. Get to work now, rather than waiting until late March when the selling season typically kicks off, and you might just give yourself an edge.

PRACTICE PATIENCE
Additional positives for the pig: patience and tolerance. Searching for a new house or putting up a beloved home for sale requires calm and endurance. Stay the course.

SYMBOLS OF LUCK
Add a little luck to the mix by embracing feng shui in the Year of the Pig. Take note of the lucky numbers of the pig year: 4, 6 and 8. Insert a lucky pig color into your home staging – choose from yellow, gray, brown and golden. Look for homes that are facing the lucky directions, set your sights on southeast and northwest.

Think you’re ready to hit the housing market? Contact me today so we can get started making the year of the pig your lucky year. 

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals. 

Reprinted courtesy of Remax Blog

Tech Tools to Empower the Average Buyer

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

By Lexi Rhein

The 21st century homebuyer is powerful. They’re well equipped, informed and ready to fight for their dream homes. Still, with all the tech tools the buyer has at hand – nothing beats having an experienced, knowledgeable real estate agent in your homebuying corner. We rank the ways today’s buyer can better prepare to partner with the right agent.

The More You Know 
21st century homebuyers are the most tech-savvy, market-aware buyers yet. With all the apps, tech and real estate tools available, homebuyers have done their homework. While much more knowledgeable, buyers may be overwhelmed by all the new tech tools coming at them – an experienced agent can cut through the clutter to focus on what the buyer wants most. A well-informed homebuyer can easily describe their must-haves to an agent to make the homebuying process easier.

Setting Expectations
Come on, it’s 2019 – gone are the days of status quo. Buyers in today’s real estate marketplace expect the best and are willing to test drive more than one agent to find the perfect fit. Many buyers walk in the door armed with extensive research on neighborhoods, the number of bathrooms they want and how many cars should fit in their new garages. As a buyer, it’s great to be armed with data, but make sure you find an agent that understands your vision and goals of the house hunt.

Asking for More
Homebuyers expect more from an agent in today’s marketplace as they look for a return on their time, energy and money. Many agents showcase their individual talents from experience, niche expertise, negotiation skills and other valuable personal assets that can help you find the right agent for you.

Even armed with up-to-date real estate knowledge – homebuyers still need an agent who can swoop in to assist, navigate and offer valuable insight to the homebuying process. Winston Realty Group is here to take care of that for you. While you will always be involved in your home search, we can lead you in the direction you want to go and make sure you stay on track. 

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals. 

Reprinted courtesy of Remax Blog

Millennial Monopoly: 4 Real Estate Trends in 2019

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

By Kayla Roofe

What’s behind the rise in homeownership? Growing interest from millennials. Here are the 2019 millennial real estate trends you need to know about this year.

Empowered with Knowledge 
First-time, homebuying millennials are much more informed when it comes to renovations, repairs and real estate process than other generations. Growing up during the development of the internet has made them very tech and research savvy and able to find ways to access important information such as listings, neighborhood reports, HGTV home renovation videos and other types of industry information on their own. In 2019, they will rely on real estate agents to share information that they can’t find online such as neighborhood developments, local market forecasts, local housing regulations and more.

Buying homes – despite rising rates
Millennials continue to make up the largest segment of buyers, accounting for 45 percent of mortgages, compared to 17 percent of baby boomers and 37 percent of Generation Xers. While first-time buyers will struggle, older millennial move-up buyers will have more options in the mid-to upper-tier price point and will make up most of the millennials who close in 2019. As their housing needs adjust over time, millennials are on track to make up the largest share of homebuyers for the next decade.

Sweat Equity
Many millennials grew up watching renovations and makeovers on HGTV, which means many of them are ready to invest sweat equity in their new home. Millennial homebuyers, overall, are more aware of the costs, work and implications of renovations than the previous generations. This is good news as interest rates rise and buyers should be prepared to settle for homes in need of TLC.

New Buying Strategies
Social media continues to impact millennial homebuying habits. They rely on online reviews to make purchasing decisions, and a strong online reputation for real estate professionals is a must in catering to this market. In fact, a recent study showed that millennials would prefer to buy a house from a real estate agent influencer over a traditional real estate agent. Showcasing a home on social media, especially on visual-heavy platforms like Instagram, is essential for appealing to millennial buyers.

If you are ready to sell your home or buy a new one, contact me today. Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals. 

Image courtesy of mohamed_hassan/pixabay.com. Reprinted from remax.com 

Home Buying Goals? 4 New Year’s Resolutions to Help You from Prep to Purchase

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

If you're on the hunt for a new home in the new year, start acting on your new year resolutions now to prep for one of the biggest purchases of your life! We have put together some top tips if your goal for 2019 is to become a homeowner.
 

  1. Pinch Those Pennies
    Saving for a down payment on a new home is one of the most important parts of the homebuying process. It’s important to plan out your savings now if your goal is to purchase a new home in the future. The median sales price of a home in the U.S. is now $235,000 – you may need at least 20 percent as a down payment or close to $50,000.
  2. Check Your Credit
    Make sure there are no surprises on your credit report. One of the first things your mortgage lender will do is check your credit to determine your debt-to-income ratio to determine how much of a mortgage loan you qualify for. According to credit-rating company Equifax, a score of 690 or higher is considered “good.” If your credit needs clean-up, start working on it now so that your score is up to par before you start the pre-qualification process.
  3. Lock in Your Pre-Approval
    Sitting down with a mortgage lender now can save you time later. Securing pre-approval on a mortgage will usually lock in an interest rate for 90 days and allow you to focus on homes that are in your price range. 
  4. Hold Off Hefty Purchases
    Curb any shopping sprees you may have planned. Big purchases like a new car or a family vacation before buying a house can affect your debt-to-income ratio and can affect how much money a lender is willing to lend to you.

Working with the right real estate agent who has experience in your local area can make all the difference. Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals.

Happy 1st Day of Winter

by Heidi Winston, RE/MAX Lifetime Achievement Recipie

Well, with the weather we've been having lately it hardly seems possible that winter is just now 'officially' getting here, but it's true!  Today, December 21st, marks the official 1st day of winter, technically the shortest day of the year here in the northern hemisphere. (And correspondingly, the longest day of the year if you're down in the southern hemisphere.)

The celestial 'winter solstice' has been celebrated by different cultures around the world for thousands of years.

Did you know that the 'solstice' itself can actually happen on different days? It's true! It can occur on December 20th, the 21st, the 22nd, or the 23rd depending upon the year.

I hope you've enjoyed this past fall and, as always, if I can be of any service with your real estate needs over the holidays please don't hesitate to give me a call or send me an email.

Happy 1st day of winter!  And stay warm!

Contact Heidi Winston of Winston Realty Group for all of your real estate needs. For more information or to schedule a showing, visit www.winstonrealtygroup.com or email Heidi@WinstonRealtyGroup.com. Once you work with us, you'll be glad we're your real estate professionals.

Image courtesy of stocksnap/pixabay.com 

Displaying blog entries 1-10 of 27

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Contact Information

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RE/MAX Central Realty
Heidi and Michael Winston
8921 W Sahara Ave, Suite A
Las Vegas NV 89117
Heidi: 702-277-6599
Michael: 702-219-8692
Fax: 702-974-2288