The Adam Lee Team JUNE 2014 Newsletter
In this newsletter:
The market is pretty flat once again. When you look at the graphs below you will see that there wasn’t any substantial change. That being said a lot of gradual changes can change the real estate market. The first number that we look at art is the number of listings. The number of listings have risen slightly over last month but they’ve been slightly raising month over month. And what that has done is created a large inventory. This time last year the inventory was about 6000 homes on the market. Now, fast forward one year, last month we had almost 18,000 homes on the market. That is a huge difference. The absorption rate climbed slightly as well. That’s to be expected with the rising number of listings.
What I think is very interesting is the fact that although the market is pretty flat and the inventory is growing, current sellers are pricing their home higher than the previous month. I completely understand where they’re coming from. They want to make sure that they get the most money for their house. Unfortunately, by overpricing a home you do more damage than good. I’ll be following up this newsletter with another video explaining how overpricing your home can be detrimental to the celibate.
Let’s break it all down.
On the selling side you want to make sure that you are the best priced and the highest upgraded house in the neighborhood. If you are, than you’ll sell your home very quickly. If you’re not, than you’re going to have to either put more upgrades in your home or lower the price. With the inventory growing you have to be competitive.
If you are thinking about buying. Now is an awesome time to be purchasing a home. The inventory is larger now than it has been over the past few years so you have a better opportunity of finding the perfect house. It is important to get all your ducks in a row before you go about purchasing a home. Make sure that you have all the information that you need as well as a full prequalification before you start looking at homes. If you don’t do this you truly are putting the cart before the horse.
As always, if you have any further questions or you need any thing else from us please let us know.we are always willing to help in any way that we can. We are true believers in getting all the information before you make a decision.
We also would like to thank our referrals as well as our servicemen and women. Have a great June.