The Fall 2017 Edition of Buyers & Sellers Guides

Download your copy of the Fall 2017 edition of the Buyers & Sellers Guides loaded with information to help you get started with your house search, or if you are thinking of selling your home.

We are sure you will have questions, so feel free to contact The Indigo Skye Group to help you with your next real estate transaction. The right Realtor really does make the difference!

2017 Fall Selling Guide -Click on image to download printable PDF.

 

2017 Fall Buying Guide – Click on image to download printable PDF.

This Month in Real Estate: October 2017

Welcome to This Month in Real Estate for October 2017. Here are just a few of the national real estate numbers we’re tracking for you right now.

 

Watch the video:

HOME PRICES

The median home price decreased to $253,500 in August, which was down 1.8 percent from July and up 5.6 percent from August of last year. The median home price has increased by approximately $13,500 in the past year alone.

 

HOME SALES

The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.35 million homes during the month of August. This was a decrease of 1.7 percent from July and an increase of 0.2 percent from August of last year.

 

INVENTORY – MONTH’S SUPPLY

There was a 4.2-month supply of housing inventory in August, which was flat from July. The total number of available homes for sale has decreased by 6.7 percent compared to August of last year.

 

The Indigo Skye Group has the proven strategies and systems to help you prepare your home, price it right, present it to the right buyers, and get it sold for the highest price possible. Our #1 goal is YOUR SUCCESS.
Schedule a consultation with us today!
The Right Realtor does make a difference. Expect MORE.

4 Reasons to Sell This Fall [INFOGRAPHIC]

Some Highlights:

  • Buyer demand continues to outpace the supply of homes for sale! Buyers are often competing with one another for the listings that are available!
  • Housing inventory is still under the 6-month supply that is needed for a normal housing market.
  • Perhaps the time has come for you and your family to move on and start living the life you desire.
The Indigo Skye Group has the proven strategies and systems to help you prepare your home, price it right, present it to the right buyers, and get it sold for the highest price possible. Our #1 goal is YOUR SUCCESS.
Schedule a consultation with us today!
The Right Realtor does make a difference. Expect MORE.

Moving-Up to a Luxury Home? Now’s the Time!

 

If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from Trulia’s Market Mismatch Study which showed that in today’s premium home market, buyers are in control.

The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change.

Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home.

The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000.

But not all who are buying luxury properties have a home to sell first.

In a Washington Post article, Daryl Judy, an associate broker with Washington Fine Properties, gave some insight into what many millennials are choosing to do:

“Some high-earning millennials save money until they are in their early 30s to buy a place and just skip over that starter-home phase. They’ll stay in an apartment until they can afford to pay for the place they want.”

Bottom Line

The best time to sell anything is when demand is high and supply is low. If you are currently in a starter or trade-up house that no longer fits your needs and you are looking to step into a luxury home, now’s the time to list your house for sale and make your dreams come true.

House Plants that are Safe for Your Pets

 

When it comes to plants and pets, both can bring a lot of love and light into your life. Unfortunately, the two don’t always mix so well. In fact, some plants can be downright deadly for pets. The good news is that many plants aren’t, and if you choose your plants wisely, the two can co-exist beautifully, says Justin Hancock of Costa Farms in Miami.

Here are expert picks on the best plants for pet owners.

Peperomia

Peperomia

This family of easy-growing houseplants has been popular for generations because it’s so forgiving, which is perfect for busy pet owners, Hancock says.

“Forget to water them now and again? No worries. Don’t want to fertilize? No problem. And they don’t contain natural compounds that are toxic to animals, so you don’t need to worry if Fido nibbles on a leaf or two.”

Bromeliads

bromeliads

With their exotic spikes of brightly colored blooms, Guzmania bromeliads look festive. These nonpoisonous plants are easy to grow and stay relatively sturdy, so they’re unlikely to suffer a lot of damage if they get knocked down by playful pups.

Echeveria

Echeveria

This trendy succulent doesn’t need a lot of water. Nonpoisonous and spineless, they won’t harm the furry members of your household.

Ponytail palm

Ponytail palm

This “plant of steel” is practically indestructible, so it’s a great choice if you need an easy-care plant that’s compatible with your pets. Its thick trunk and grassy leaves give it a festive look that’s perfect for any room in the home.

Catnip

Not only is catnip nontoxic, your cat is also going to love it. It can be planted inside or out and is known for its bright green leaves. The only downside is that your feline may love it too much, so you might need to replant it now and then.

Money tree

Money tree, aka pachira aquatica

Money tree, aka pachira aquaticaSadly enough, money does not actually grow on these plants. But here’s the good news: They’re safe for pets and recommended for people with allergies and asthma.

Moth orchid

Moth orchid

These nontoxic flowers look fancy, but they’re actually low-maintenance. They come in an amazing array of colors and can add an elegant touch to any space without putting Yolanda the Yorkie in any danger.

A note of caution

Hancock says it’s important to note that just because these plants are nontoxic for pets, it doesn’t mean your pet still can’t have a negative reaction to them.

“Pets can have allergies to plants, just like people can have food allergies, so a nonpoisonous plant could possibly (it’s rare, of course) make a pet sick,” Hancock says. “Likewise, it’s also possible for pets to have bad interactions with fertilizers or other products used on plants.”

So if your green thumb is itching, these nontoxic plants are good place to start. Just remember to watch your furry friends around any new plants, for the sake of your pets and your plants.

Net Worth of Homeowners 44X Greater than Renters

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process.

Millionaire to Millennials: Buy a Home Now!

In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount paying down a mortgage, and in the end wind up owning your own home free and clear!”

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial TimesWashington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – if you don’t yet live in your own home, go buy one.

A Tale of Two Markets: A 6-Month Update

 A Tale of Two Markets: A 6-Month Update

Six months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in the US was causing the formation of two markets.

In the starter and trade-up home categories, there were significantly more buyers than there were homes for sale, causing a seller’s market. In the premium, or luxury, home categories, the opposite was true as there was a surplus of these homes compared to the buyers that were out searching for their dream homes, which created a buyer’s market.

According to the National Association of Realtors latest Existing Home Sales Report, the inventory of existing homes for sale in today’s market is at a 4.2-month supply. Inventory is now 6.5% lower than this time last year, marking the 27thconsecutive month of year-over-year decreases.

Looking at the latest report from Trulia, we can see that not much has changed, and in fact, recent natural disasters across the country have made inventory conditions even more dire.

Trulia’s market mismatch score measures the search interest of buyers against the category of homes that are available on the market. For example: “if 60% of buyers are searching for starter homes but only 40% of listings are starter homes, [the] market mismatch score for starter homes would be 20.”

The results of their latest analysis are detailed in the chart below.

chart of real estate data indigoskyegroup.com blog

Nationally, buyers are searching for starter and trade-up homes and are coming up short with the listings available, which is leading to a highly competitive seller’s market in these categories.

Premium homebuyers, on the other hand, have the best chance of less competition and more inventory of listings in their price range with a 14.7-point surplus, which is creating more of a buyer’s market.

Bottom Line

Real estate is local. If you are thinking about buying OR selling this fall, let’s get together to discuss the exact market conditions in your area.