rapid incline of home sales, the evidence clearly indicates a set up for a great sellers market this spring of 2016.
home sellers with a competitive advantage which trickles down into increased home values. Milwaukee has seen a 22% increase in property values as compared to 2015, while Waukesha comes in at a close second with a 15.5% increase. With interest rates still at an all time low and continued first time home buyer financing options buyers are hitting the pavement to find their next home. As a home seller this is a great time to consider putting your home on the market. Feel free to contact Buyers Vantage and speak to one of our full service agents to discuss how YOUR home could benefit from this great market. Interested in viewing the full January WRA housing report, click here.
Blog Written by: Nicole Fazio Denk Licensed REALTOR
statistics provided by WRA
Millennials make up the second-largest generation in U.S. history, representing 20 million American households. While millennials have been dubbed the renting generation bysome, they are starting to make strides in the housing market. In the summer of 2014, 30% of home buyers were millennials, according to an analysis from realtor.com®.
Even though more millennials plan to buy a home in 2015, your first home purchase can still be a scary proposition. After all, how do you know if you’re too young for homeownership? Here’s how to tell if you’re ready.
Where will you be in the next five to 10 years?Buying a home is a time commitment. If you sell too soon, you won’t build up any equityand you might take a loss on the deal.
With that as a guide, don’t consider buying a house unless you’re ready to live in an area for at least the next five years. If you think your job might relocate you sometime soon, or you’d like to try life in another city, buying may not be a smart idea right now.
Are you ready to live alone?If you’re buying a home on your own, odds are you’ll end up living alone some of the time. Many young people buy a home expecting to have a roommate, but plans change and roommates move out.
While there’s nothing wrong with renting a spare bedroom, make sure you’re emotionally prepared to live alone at least some of the time.
Do you have time to DIY?Owning a home means routine maintenance, repairs, and home improvement jobs over the weekend. You’ll have to mow the lawn, unclog drains, fix leaking pipes, and address other home repair jobs.
Before you commit to homeownership, make sure you have the time (and the desire) to spend some nights and weekends working on improving or maintaining your biggest investment.
Can you afford it?Buying is often cheaper than renting in the long run, but the upfront costs are much higher. When you rent, you have to pay only the first month’s rent and the security deposit. When you buy, you’ll have to make a down payment and cover closing costs.
While you can find loan programs that will work with smaller down payments, you’ll still spend much more upfront to buy. You’ll need the down payment plus enough cash reserves to get approved for a loan. If you don’t have much saved in the bank, it may be better to wait.
Do you know why you want to buy?Buying a home is one of the biggest financial decisions you’ll ever make, and it isn’t something you want to rush. Don’t listen to negative thoughts or give in to peer pressure about how you “should have a house by now.”
If you can think of several reasons why you personally want to be a homeowner, you’re likely emotionally ready to consider buying. Otherwise, it might be better to rent until you’re sure you want to make the transition.
Article & Photo Courtesy of: REALTOR.com
Original Post can be found here: http://www.realtor.com/advice/think-youre-ready-young-homeowner/
In today's real estate market, you're going to need to do more than just post a For Sale By Owner sign in your lawn. For decades, the most effective way o maximize your exposure was to list with a realtor and pay 5-7%. The realtor would put your home in the Multiple listing service (MLS) and share your listing only with other licensed real estate brokers. Now, all MLS listings are shared on the internet, making the internet the largest consumer real estate marketplace. Although the internet has changed the real estate industry MLS is still a private offer of cooperation and compensation between listing broker and selling broker member. The listing agent shares 2.4% - 3% (depending upon location) of their commission to the agent that brings a buyer and writes an offer. Therefore, if you're selling your home By Owner and looking to get MLS exposure, its going to come with a price. If you are considering Flat Fee MLS, you will want to offer an MLS commission that's customary in your locality. This is usually 2.4 to 3%. If you are willing to pay a commission, then Flat Fee MLS is the way to go. The positive side to this is you will be receiving enormous internet exposure, therefore it is likely a buyer will see your home on one of the hundreds of websites your home will be on and come directly to you. Therefore, you pay no commission. Flat fee MLS is the best of both worlds.
Selling your home and paying 6% in real estate commission in today’s market is very difficult.
Often sellers are put in a position to increase their selling price OR take a large hit in their equity profit.
The days of agents having to do newspaper advertisement, run open houses and do other print advertisements is over.
The internet has become the real estate marketplace for buyers to find homes, reducing marketing cost to Realtor's. So why are many still charging 6 to 7% in commissions?
Buyers Vantage FULL SERVICE Realtors take care of EVERYTHING home sellers need to ensure a smooth, successful and quick real estate transaction at only 3.9% total commission.
Today Realtors use the MLS to market their home listings. MLS is a cooperative broker to broker network. For example, if you signed a listing contract with a broker to pay 6% in commission. Your listing agent will share 2.4% of the 6% you agreed to pay to an MLS brokers if they bring them the buyer. Buyers Vantage offers the same competitive commission of 2.4% to other MLS agents. Your savings in commission comes from our listing side of the commission. This ensures your home is competing well in the marketplace next to other neighboring homes for sale. Additionally, in tough markets, our home sellers can offer additional selling bonuses to MLS agents, making their home have a more competitive advantage in tough markets while still saving money in commission!
Your Buyers Vantage Realtor will help you set your price and strategize the best marketing plan for you.
Rather than a "one-size-fits-all" approach. Buyers Vantage is a company of choices. In addition to traditional Full service 3.9% option, Buyers Vantage also offers innovative flat fee MLS programs that can help home sellers in any kind of market.
We have saved our clients thousands! When selecting a Real Estate company to help sell your home, it’s imperative you select one who's reliable and trustworthy. Our amazing clients have allowed us to become a business built on 95% referral base.
Contact us today to get started 262 781 9578
The real estate agents of Buyers Vantage offer a wealth of knowledge having been in business for 18+ years. The contributors of this blog are a team of experienced agents who stay up to date and current with today's market trends.