martinmstephens

[martinmstephens]

Bandon and Coos County market update for May 2021

Bandon and Coos County market update for May 2021.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area. It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Bandon and Coos County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/6596/

[martinmstephens]

Real Loop – May 2021 Market Update

In this episode we’ll dive deeper into what’s causing low inventory and explore housing affordability in contrast to home price appreciation.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area. It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/real-loop-may-2021-market-update/

[martinmstephens]

Real Loop April 2021 – Bandon

Bandon and Coos County market update for April 2021.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area. It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/real-loop-april-2021-bandon/

[martinmstephens]

Real Loop Market Update – April 2021

In this months market update we’ll talk about rising interest rates, demand & skyrocketing home equity.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area. It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/real-loop-market-update-april-2021/

[martinmstephens]

Your House Could Be the Oasis in an Inventory Desert

Your House Could Be the Oasis in an Inventory Desert

Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.

According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower:Due to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage in the negotiation process, two big wins if you’re going to sell your house this year.

Bottom Line

In such a hot market, it can feel as though the supply of homes has virtually dried up, leaving buyers to wander in an inventory desert. That’s why there’s never been a better time to sell. To a parched buyer needing to secure a home as soon as possible, your house could be a true oasis.

from Latest Information https://www.beachlooprealty.com/blog/your-house-could-be-the-oasis-in-an-inventory-desert/

[martinmstephens]

When It Comes To Selling a House, Your Time Is Money

When It Comes To Selling a House, Your Time Is Money

Some Highlights

Selling a house is no small task. If you decide to try to do it on your own, keep in mind you’ll be responsible for all the expert-level work of a real estate professional.

The vital tasks an agent manages for you include listing and marketing your house, handling legal documentation, negotiating with all parties, and navigating local laws and regulations.

If you’re ready to sell while the market is in your��favor, let’s connect to make sure you have the professional expertise you need every step of the way.

from Latest Information https://www.beachlooprealty.com/blog/when-it-comes-to-selling-a-house-your-time-is-money/

[martinmstephens]

February 2021 Market Update – Are we in a Housing Bubble?

February 2021 Market Update – Are we in a Housing Bubble?

In this month’s real estate market update we discuss whether the current housing market condition exhibits symptoms which could signal a repeat of the 2006 housing crisis.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly.

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold.

The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high.

Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area.

It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/february-2021-market-update-are-we-in-a-housing-bubble/

[martinmstephens]

January 2021 Market Update – Pandemic Forbearance Rates

January 2021 Market Update – Pandemic Forbearance Rates

January Market Update – Forbearance Rates During the COVID-19 Pandemic

In this month’s market update we dive into mortgage forbearance rates during the COVID-19 crisis.

Inventory: Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.

Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price: The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold.

The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high.

Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area.

It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/january-2021-market-update-pandemic-forbearance-rates/

[martinmstephens]

Real Loop March 2021

Real Loop March – Bandon and Coos County

Inventory:

Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price:

The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high.

Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area.

It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/6559/

[martinmstephens]

Real Loop March 2021

Real Loop March – Is This A Super Seller’s Market?

In this months market update we’ll talk about rising interest rates, demand & skyrocketing home equity.

Inventory:

Inventory in months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly

Sale Price:

The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high.

Both the average sale price and median sale price can be valuable when you’re trying to determine how much you could expect to spend on a home in a particular area.

It’s important to remember that the average sale price may be skewed due to outliers in the data (if a property has sold for a price far higher or lower than typical for the area).

Coos and Curry County data sourced from RMLS.com and national data from Keeping Current Matters.

from Latest Information https://www.beachlooprealty.com/blog/real-loop-march-2021/

[martinmstephens]

Real Loop – November 2020 Market Update

from Latest Information https://www.beachlooprealty.com/blog/real-loop-december-2020-market-update/

[martinmstephens]

Reel Loop October 2020

Welcome to the first installment of Real Loop, the lowdown on home sales and prices. A Real Estate Market Update September 2020 for Coos County with special highlights on Bandon, Coquille, Coos Bay & North Bend Oregon.

The Difference Between the Median Sale Price and Average Sale Price:

The average sale price is calculated by adding all the sale prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold.

For instance, if ten properties sold in a city in the last 30 days, the average home price would be calculated by adding the sale prices for all ten properties and dividing that figure by ten. The problem with the average sale price is that if one or more properties were sold at an extraordinarily high or low price, the average is skewed higher or lower as a result.

In this case, the average becomes a somewhat unreliable metric. The median sale price, on the other hand, is the sale price in the middle of the data set when you arrange all the sale prices from low to high. The median sale price, then, represents the figure at which half of the properties in the area sell at a higher price and other half at a lower price.

The U.S. Census Bureau lists national median and average sale prices for the past several decades, and the Federal Housing Finance Administration uses these and other figures to create the House Price Index.

Population from U.S Census Bureau and https://worldpopulationreview.com/

from Latest Information https://www.beachlooprealty.com/blog/reel-loop-october-2020/

[martinmstephens]

Two New Surveys Indicate Urban to Suburban Lean

There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide.

In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, Chief Economist for the National Association of Realtors (NAR):

“While migration trends were toward urban centers before the pandemic, real estate thought leaders have predicted a suburban resurgence as home buyers seek more space for social distancing. Now the data is supporting that theory. Coronavirus and work-from-home flexibility is sparking the trend reversal, Yun said. More first-time home buyers and minorities have also been looking to the suburbs for affordability, he added.”

NAR surveyed agents across the country asking them to best describe the locations where their clients are looking for homes (they could check multiple answers). Here are the results of the survey:

47% suburban/subdivision

39% rural area

25% small town

14% urban area/central city

13% resort community/recreational area

According to real estate agents, there’s a strong preference for less populated locations such as suburban and rural areas.

Real Estate Brokers and Owners Agree

Zelman & Associates surveys brokers and owners of real estate firms for their monthly Real Estate Brokers Report. The last report revealed that 68% see either a ‘moderate’ or ‘significant’ shift to more suburban locations. Here are the results of the survey:

Bottom Line

No one knows if this will be a short-term trend or an industry game-changer. For now, there appears to be a migration to more open environments.

  « Virtual School Is Changing Homebuyer Needs [INFOGRAPHIC]

  The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

from Latest Information https://www.beachlooprealty.com/blog/two-new-surveys-indicate-urban-to-suburban-lean/

[martinmstephens]

Sellers are Returning to the Housing Market

Sellers Are Returning to the Housing Market

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.com, explains:

“Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone…After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay.”

Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of Realtors (NAR) reports:

“Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from both 4.8 months in May and from the 4.3-month figure recorded in June 2019.”

Houses today are selling faster than they’re coming to market. That’s why we only have inventory for 4 months at the current sales pace when in reality we need inventory for 6 months to keep up. But, as mentioned above, sellers are starting to return to the game. Realtor.com explains:

“The ‘housing supply’ component – which tracks growth of new listings – reached 101.7, up 4.9 points over the prior week, finally reaching the January growth baseline. The big milestone in new listings growth comes as seller sentiment continues to build momentum…After constant gradual improvements since mid-April, seller confidence appears to be reaching an important milestone. The temporary boost in new listings comes as the summer season replaces the typical spring homebuying season. More homes are entering the market than typical for this time of the year.”

Why is this good for sellers?

A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don’t want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so.

Why is this good for buyers?

It can be challenging to find a home in today’s low-inventory environment. If more sellers are starting to put their houses up for sale, there will be more homes for you to choose from, providing a better opportunity to find the home of your dreams while taking advantage of the affordability that comes with historically low mortgage rates.

Bottom Line

While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you’re thinking of moving this year, let’s connect today so you’re ready to make your move when the home of your dreams comes up for sale.

from Latest Information https://www.beachlooprealty.com/blog/sellers-are-returning-to-the-housing-market/

[martinmstephens]

The Beginning of an Economic Recovery

The news these days seems to have a mix of highs and lows. We may hear that an economic recovery is starting, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand exactly what’s going on and what it means relative to the road ahead. We’ve talked before about what experts expect in the second half of this year, and today that progress largely hinges upon the continued course of the virus.

A recent Wall Street Journal survey of economists noted, “A strong economic recovery depends on effective and sustained containment of Covid-19.” Given the uncertainty around the virus, we can also see what economists are forecasting for GDP in the third quarter of this year (see graph below):Overwhelmingly, economists are projecting GDP growth in the third quarter of 2020, with 5 of the 9 experts indicating over 20% growth.

Lisa Shalett, Chief Investment Officer for Morgan Stanley puts it this way:

“Indeed, the ‘worst ever’ GDP reading could be followed by the ‘best ever’ growth in the third quarter.”

As we look forward, we can expect consumer spending to improve as well. According to Opportunity Insights, as of August 1, consumer spending was down just 7.8% as compared to January 1 of this year.

Bottom Line

An economic recovery is beginning to happen throughout the country. While there are still questions that need to be answered about the road ahead, we can expect to see improvement this quarter.

from Latest Information https://www.beachlooprealty.com/blog/the-beginning-of-an-economic-recovery/

[martinmstephens]

There will be no immunity without community

A patient asked me the other day… “What will it take to build immunity so I never get sick and this whole thing goes away?” Wow. Huge question, right? Let’s take the second part first, since that is on the mind of many right now. My answer… There will be no immunity without community. What […]

The post There will be no immunity without community appeared first on Rejuv Medical Southwest.

from Latest Information https://rejuvmedicalsw.com/there-will-be-no-immunity-without-community/

[martinmstephens]

Thinking of Selling Your House? Now May be the Right Time

Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.

Sam Khater, Chief Economist at Freddie Mac notes:

“Simply put, new housing supply is not keeping up with rising demand. We estimate that the housing market is undersupplied by 3.3 million units, and the shortage is rising by about 300,000 units a year. More than half of all states have a housing shortage.”

Why is inventory so low?

There are many reasons why it’s hard to find a home to buy today, stemming from an undersupply of newly constructed homes to sellers pressing pause on their moving plans due to the current health pandemic. One of the key factors making it even more challenging, however, is the amount of time current homeowners are staying in their homes. There has truly been a fundamental shift in the market that started about 10 years ago: people are staying put longer, and it’s contributing to the shortage of houses for sale.

In the 2019 Profile of Home Buyers and Sellers, NAR explained:

“In 2019, the median tenure for sellers was 10 years…After 2008, the median tenure in the home began to increase by one year each year. By 2011, the median tenure reached nine years, where it remained for three consecutive years, and jumped up again in 2014 to 10 years.”

As shown in the graph below, historical data indicates that staying in a home for 5-7 years used to be the norm, until the housing bubble burst. Since 2010, that length of time has trended upward, toward 9-10 years, largely due to homeowners aiming to recoup their equity:Thankfully, with the strength the market has gained over the last 10 years, today’s homeowners are in a much better equity position. Now is a fantastic time for homeowners who are ready to make a move to break the 10-year trend and sell their houses, especially while buyer demand is so high and inventory is so low. It’s a prime time to sell.

In addition, with today’s historically low interest rates, there’s an opportunity for sellers to maintain a low monthly payment while getting more house for their money. Think: move-up opportunity, more square footage, or finding the features they’re really looking for rather than doing costly renovations. With more new homes poised to enter the market this year, homeowners ready to make a move may have a golden opportunity to do so right now.

Bottom Line

There are simply not enough houses for sale today. If you’re ready to leverage your equity and sell your house, let’s connect today. It’s a great time to move while demand for homes to buy is extremely high.

from Latest Information https://www.beachlooprealty.com/blog/thinking-of-selling-your-house-now-may-be-the-right-time/