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Author Archives: RE/MAX All-Pro

The Power of ‘Kidfluence’ When It’s Time to Buy a Home

While parents may have a handle on the household budgets, it’s the kids who influence one of the biggest purchase decisions you make as a family-a new home. In the U.S., there are 50 million children 11 years old and under who have a hefty $1.2 trillion in annual purchasing power and they mean business. We’re not just talking about their mini-opinions on everyday purchased like food, clothing and toys; their influence extends to larger life purchases including cars, vacations and yes, even homes.

According to a recent Harris Poll, 55 percent of homeowners with a child under 18 said the opinion of their child played a factor in their home buying decision. For millennial parents, the influence grows to nearly 75 percent-now that’s some ‘kidfluence.’

While parents study and search for the best school zones, other home features like having their own room, a large backyard and a swimming pool were more popular to the Mini-Me in the family. This might explain why many couples move out of the city to suburbs when they start a family-even as some urbanists continue to stay put in city life raising their city kids.

Finding the right home that’s just right for your family starts with finding the right agent. RE/MAX agents are more recommended because they recommend what’s right for you-and your kids. When you’re ready to start the process of buying a home, RemaxAllPro.com will be ready to help.

RE/MAX Agents Outproduce The Competition 2:1

The numbers prove it: RE/MAX agents continue to have leading productivity. Here are five facts to know from the 2018 REAL Trends 500 Report.

RE/MAX agents averaged 17.0 transaction sides, more than double the average of 7.5 for all other agents in the survey.

RE/MAX was one of only four national franchises with an average exceeding the overall survey average of 8.3 transaction sides per agent.

Of the 1,752 qualifying brokerages, one-third (565) were affiliated with RE/MAX. The nearest competitor placed 392.

RE/MAX agents averaged $4.6 million in sales volume, 78% higher than the $2.6 million average of all other agents in the REAL Trends 500 survey.

 With 89, RE/MAX brokerages hold even more of the top 100 spots when all participating brokerages are ranked by average sides per agent.

View the full 2018 REAL Trends 500 report here >

April Housing Report

If you are looking for a new home, chances are you’re not finding many homes on the market. If you’re a seller, you have likely noticed the value of your home is rising — no matter what part of the country you live in.

According to the April 2018 RE/MAX National Housing Report, home prices continued to climb year-over-year for the 24th consecutive month in March, while home sales continued to decline for a fourth consecutive month, making it a seller’s market in most regions of the country. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

“Homebuyers shouldn’t be discouraged by the record-breaking numbers — even with higher prices and closed transactions, this March marks the second-highest in sales in the history of the RE/MAX National Housing Report,” said RE/MAX CEO Adam Contos. “It’s more important than ever to work with an experienced RE/MAX agent who is invested and involved in their community. They are dialed into the nuances of a neighborhood, making your home search or sale easier and quicker.”

When the Months Supply of Inventory falls below six months, it’s a seller’s market, and all 54 metro areas surveyed for the monthly housing reported under six months of inventory.

“We also look at the Days on Market as another indicator of tight inventory and the national average stands at 60 days,” said Contos. “That’s four days less than a year ago and another March record-breaker.”

Find the complete report here

March Housing Report

One word sums up February home sales across the country – inventory. The lack of homes for sale continues to be the key factor as February marks the third consecutive month of year-over-year declines in home sales, coupled with quick sales and record prices. To access the housing report infographic, visit: https://rem.ax/2phKHWT.

According to the March RE/MAX National Housing Report, home sales dropped 0.2% from February 2017, while the Days on Market average of 62 days was the lowest of any February in the report’s nine-year history.

“We shared our outlook of the real estate market in the new year and it seems that even two months into 2018 we’re already seeing records break,” said RE/MAX CEO Adam Contos. “The February 2018 median sales price of $228,700 marks the 22nd consecutive month of year-over-year price increases.”

The Months Supply of Inventory was 3.1 – also a RE/MAX National Housing Report February record – and underscored an average decline in inventory of 13.7% among the 52 markets reporting.

“While the hot markets like Denver and San Francisco continue to see low supplies of inventory, we’re also watching more homebuyers migrate into unexpected markets,” added Contos. “In one year, Billings, Montana, saw a 59 percent increase in home sales, along with Boise, Idaho, with a 25 percent increase in sales.”

Out of 52 markets, 18 metro areas saw double-digit percentage increases in median sales price year-over-year. While only two metros saw a year-over-year decrease in median sales price – Albuquerque, NM, and Burlington, VT.

Find the complete report here

5 Reasons School Ratings Matter

Schools can have a big impact on property value and quality of life. If you’re buying a home, here are a few reasons local school ratings matter – even if you don’t have kids.

  • 1.The next buyer will consider school ratings, too

According to a recent National Association of REALTORS Profile of Home Buyers and Sellers, 25 percent of homebuyers listed school quality and 20 percent listed proximity to schools as deciding factors in their home purchase. Another survey conducted by Realtor.com showed that 91 percent of the people surveyed included school district boundaries in their decision-making process. You may be surprised to learn that not all of the shoppers involved in the studies had kids.

  • 2.More money spent on schools means more money spent on homes

There’s a correlation between school expenditures and home values in any given neighborhood, according to the National Bureau of Economic Research. Their report, “School Spending Raises Property Values,” found that for every dollar spent on public schools in a community, home values increased $20.

  • 3.Higher school ratings equal higher home values

A Brookings Institution study looked at the 100 largest metro areas in the country and found an average difference of $205,000 in home prices between houses near high-performing and low-performing schools.

  • 4.And good school ratings help homes maintain value

While changes in the economic landscape and local area can ripple across the market, a great school district can sometimes help insulate a home from market fluctuations.

  • 5.Great school districts usually mean great neighborhoods

Often there’s a correlation between super school districts and safer neighborhoods, better shopping and transportation and great public amenities – like parks. All of these factors increase the desirability of the neighborhood, which translates to higher home values and a better deal for you when it’s time to sell.

Looking for a home near a great school? RE/MAX can help you get started with the school finder search engine located on remax.com.

Virtual Reality in Real Estate

The day many tech lovers have been waiting for is here: Google Daydream View is now available in stores. The new virtual reality headset connects with a smartphone (specifically, Google Pixel) to immerse users in their favorite games, movies or even the latest news story. And at just $79, Daydream is making VR technology more accessible to consumers than ever before.

But the uses of virtual reality technology go beyond entertainment. Here are a few ways VR is making its way into real estate.

1. Open houses

Virtual reality headsets, about the size of a scuba mask, can provide 360-degree virtual reality property tours of homes. The headsets completely fill the user’s field of vision with a view of the home, allowing them to look up, down and from side to side. Developers are working on adding more tactile features to the experience, so users can do things like see their own hand opening a door, reports the New York Times. They’re even developing smells. One day Realtors might be able to add the smell of virtually baking cookies to their virtual open house.

2. Long-distance shopping

Virtual reality home tours give out-of-town buyers (and local buyers, too) another tool to help narrow down their choices of homes they’d like to physically visit in a limited amount of time.

3. Staging

More affordable than hiring a pro to stage your home, several virtual options allow you to add furniture and decorations to vacant rooms using computer technology. It can help buyers envision a property with different furniture and paint.

There’s a lot more to a real estate transaction than VR goggles can replace. When you’re ready to buy or sell your home, work with an experienced RE/MAX agent. Find a local RE/MAX agent here who can help you find the right place for you.

February Housing Report

The record speed of January home sales may signal that buyers aren’t waiting around for the typical spring selling season to begin. Despite home sales being down 2.8% year-over-year, the February RE/MAX National Housing Report shows homes sold in a mere 60 days last month, marking the fewest Days on Market of any January in the nine-year history of the report.

Days on Market typically decline each month leading into the heart of the spring and summer buying season in July and start increasing monthly as fall progresses into winter.

“We recently saw the groundhog predict six more weeks of winter, but January housing numbers are telling a different story,” said RE/MAX CEO Adam Contos. “It looks like the spring selling season may have arrived early because home buyers are not slowing down. The speed of this market is on pace with what we saw in the prime of the 2017 selling season.”

The Median Sales Price of $224,000 also set a January record — up 6.7% year-over-year. Out of 53 markets, 51 posted gains, marking January as the 22nd consecutive month of year-over-year price increases dating back to April 2016.

Find the complete report here

The Worldwide Leader in Real Estate: RE/MAX

The global powerhouse moves forward with productive agents and a passion for helping buyers and sellers around the globe.

The skills of more than 115,000 Sales Associates in over 100 countries and territories have made RE/MAX the global leader in residential real estate sales (transaction sides). That’s what happens when you combine the industry’s most productive agents, a universally known brand name, an array of competitive advantages, and a culture that attracts professionals who value customer service and big results.

Nobody in the World Sells More Real Estate Than RE/MAX.

January Housing Report

While sales dropped slightly from a year ago, December capped off a 2017 of record home prices, speedy sales and low inventory.

The January RE/MAX National Housing Report shows the median home price rose 8.1% year-over-year, with 50 of the report’s 54 markets posting increases. At the same time, December sales dropped 3.3% from December 2016, with 39 markets reporting fewer transactions. Making sales harder was a Months Supply of Inventory of 3.7 which is the lowest December figure in the nine-year history of the report. That corresponds with a 14.6% decline in inventory, lengthening a streak of monthly declines that began in November 2008.

Also setting a report record for December was the speed of home sales: 57 days. That figured into an overall 2017 median for Days on Market of 52.5 — nearly a week less than the 2016 median of 58.5 days.

Home buyers paid record prices in 2017, led by June’s Median Price Sold of $245,000. Prices increased year-over-year in every month of 2017, with December marking the 21st consecutive month of year-over-year price increases dating back to April 2016.

Find the complete report here

Sellers: It’s Risky Pricing too High – Market Value Strategies

Every seller wants to get the best deal for their house—especially when you consider that as much as $500,000 in profit can be earned tax-free. So why not just price your house to the moon? After all, you can just bring it down later, right?

Well, there are a few problems with that. If you price high and then slowly start bringing it down…and down…and down…buyers are going to notice. It makes that home start to seem like it’s in a bargain bin. You want your home to appear like a deal, not cheapened goods. When it sits on the market for an extended time because of overpricing, buyers are going to wonder why. Would you feel urgency as a buyer if you read that a property was listed 180 days ago? Probably not.

To set a realistic price, consider these tips:

  • Do your due diligence. What have houses like yours sold for when the deal was made in a reasonable time? And what were the original prices of those homes?
  • Have an honest discussion with your real estate agent. He or she knows the area, and wants to sell your home as quickly as possible for the most competitive price. What does he or she think is reasonable?
  • Be an assertive seller, but don’t overplay your hand. Remember, the little extra money you hold out for may not be worth the six months or year of mortgage payments you’re stuck paying in the meantime!

Timing is equally important in the real estate marketplace. Home prices are constantly fluctuating with the dynamic forces of the local, national, and global economy. No real estate associate can control these forces. However, your RE/MAX associate will research and prepare a detailed “Market Analysis” of your property. Your market analysis will compare all other sold and currently listed properties in similar locations, characteristics, amenities, and condition  to your home. Together, your RE/MAX associate will help you interpret the data and make an informed decision as to where your home should be priced.

FAIR MARKET VALUE PRICING will enable you to reach 95% of the buyers searching for your home’s criteria.  JUST 15% above fair market value will decrease your buyer pool to 20%.

When you’re ready to start the process of buying a home, RemaxAllPro.com will be ready to help.