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WARRANTIES FOR OLDER HOMES

by Hickinbotham Real Estate Team

WARRANTIES FOR OLDER HOMES

Older Craftsman BungalowNew homes come with warranties to protect the buyer in case of the unexpected. But what about existing homes? Fortunately, there are a number of companies today who offer warranties for existing homes. Sellers can now offer their buyers a level of assurance that was previously reserved for new construction, and buyers can buy with confidence!

If you are in the market to buy or sell, ask us about the advantages of a home warranty. You might be surprised at how much protection is offered at a very reasonable price.

HOME SELLERS ARE POCKETING MORE MONEY NATIONALLY

by Hickinbotham Real Estate Team

HOME SELLERS ARE POCKETING MORE MONEY NATIONALLY

(summarized from the NAR Daily Real Estate News, Friday, April 28, 2017)

Stack of $100 billsNationally, the average price gain for homeowners who sold in the first quarter was $44,000. This represents an average return of 24 percent on the purchase price -- the highest average price gain for home sellers (in both percentage and dollars) since the third quarter of 2007, according to ATTOM Data Solutions’ First Quarter 2017 U.S. Home Sales Report.

According to Daren Blomquist, senior vice president with ATTOM Data Solutions, “The first quarter of 2017 was the most profitable time to be a home seller in nearly a decade, and yet homeowners are continuing to stay put in their homes longer before selling.” Blomquist noted that “This counterintuitive combination is in part the result of the low inventory of move-up homes available for current homeowners, while also perpetuating the scarcity of starter homes available for first-time home buyers.”

The report showed that homeowners who sold in the first quarter had owned their home for an average of 7.97 years. Between the first quarter of 2000 and third quarter of 2007, prior to the Great Recession, average homeownership tenure was 4.26 years.

Blomquist suggested that the situation may be changing somewhat: “There are some early signs this inventory logjam may be loosening up in some markets, with the average homeownership tenure down from a year ago in nine of the 66 markets we analyzed, including Memphis, Dallas, Boston, Portland [Ore.], and Tampa," adding that "sky-high potential price gains may be finally prompting more homeowners to sell.”

STEPS TO ENHANCE CURB APPEAL

by Hickinbotham Real Estate Team

STEPS TO ENHANCE CURB APPEAL