Thursday, December 24, 2020 / by Ira Miskin
New-Home Sales Fall Sharply in November Amid Affordability, Inventory Concerns
By RISMedia Staff
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New-home sales fell sharply month-over-month, dropping 11.0 percent below the revised October rate. But year-over-year, sales recorded 20.8 percent above the November 2019 estimate of 696,000, according to the latest Commerce Department monthly report. For November 2020, sales of new single-family houses were at a seasonally adjusted annual rate of 841,000.
Here’s the market breakdown:New-Home Sales: 841,000For-Sale Inventory: 286,000Months’ Supply: 4.1 monthsMedian Price: $335,300
What the Industry’s Saying:“Though the market remains strong, the pace of sales pulled back in November as inventory remains low and affordability concerns persist as builders grapple with a shortage of lots, labor and building materials.” &m ...
Thursday, January 9, 2020 / by Ira Miskin
Here's an amazing statistic that everyone who is currently renting should strongly consider. In Metro Atlanta the average monthly cost to rent an apartment or single family home is $1475 per month according to national statistical tracker Attom Data Solutions in their Rental Affordability Report. And more than 57% of us still rent vs. own a home, town home or condo of our own!
For the same monthly cost you can own a home with a market value of $235,000 purchased with as little as 3.5% down payment with an FHA loan. As well, for many of us, there are down payment assistance programs that can help you with your down payment. There are also 0% down loans for Veterans and current military, and 0% down FHA loans through the FHA's USDA program.
Additionally there are good Rent-To-Own programs where you can rent a home of your choice, and once you can qualify for a home loan you can buy it a predetermined price.
Many of us believe home ownership is beyon ...
Thursday, December 5, 2019 / by Ira Miskin
Here’s another behind the scenes look at what is so important to helping you get your home properly prepared and presented to buyers when your home goes on the market to sell.
It’s called a CMA – real estate agent jargon for a competitive market analysis which is a fancy way of saying – how much is your home worth to Buyers and how can we set a price that enhances the benefits of owning your home.
CLICK HERE TO VIEW VIDEO: https://youtu.be/9J8Lqv8j3ws
The CMA has many components that all contribute to finding the market value for your home... that will get you the most money for the home when it sells,... because it is attractive to Buyers so they’ll not only want to come see your home, but even compete for the opportunity to buy it from you!
This CMA starts with some photos... that may seem like just a simple visual enhancement for the report... but it’s actually a visual analysis of your home in its location... because often, the ...