Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   Even if you haven’t been following real estate news, you’ve likely heard about the current   sellers’ market . That’s because there’s a lot of talk about how strong market   conditions   are for people who want to   sell their houses . But if you’re thinking about listing your house, you probably want to know: what does being in a sellers’ market really mean? What Is a Sellers’ Market? The latest  Existing Home Sales Report  from the  National Association of Realtors  (NAR) shows housing supply is still very low.  There’s a 2-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a normal or neutral market where there are enough homes available for active buyers. That puts today deep in sellers’ market territory ( see graph below ): What Does This Mean for You When You Sell? W...

  If you’re in the market to buy a home this season, stick with it states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . Homebuyers face challenges in any market, and today’s is no exception. But if you persevere, your decision to purchase a home will be worth the effort in the end. In fact, a   recent survey   from   Bankrate   shows homeownership is so powerful that: “ Nearly three in four homeowners say they would still buy their current home if they had it to do [sic] all over again .” That means the results – owning a home and the  benefits  that come with it – outweigh the effort needed to achieve their goal. If you’re a homebuyer, let that provide you with the confidence to know the work you’re putting in today will pay off for years to come. Here are a few reasons to stick with your search and focus on the outcome. Homeownership Contributes Significantly to Your Financial Well-Be...

   If you’re following along with the news today, you’ve likely heard about rising inflation states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about  purchasing a home  this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how  homeownership  can help you combat the rising costs that come with inflation. Homeownership Offers Stability and Security Investopedia   explains  that during a period of high inflation, prices rise across the board. That’s true for things like food, entertainment, and...

  If you’re planning to   buy a home   this season, you’re probably thinking about what you’ll need to do to get your offer accepted states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott   In previous years, it was common for buyers to try and determine how much less than the asking price they could offer to still get the home. The buyer and seller would then negotiate and typically agree on a revised price that was somewhere between the buyer’s bid and the home’s initial asking price. In today’s real estate market, buyers shouldn’t shop for a home with the same expectations . Things Are Different Today Today’s housing market is anything but normal. According to the  National Association of Realtors  (NAR), the average home that’s sold today: Receives 4.8 offers Sells in just 17 days Homes selling quickly and receiving  multiple offers  shows how competitive the  housing market ...

  Homeownership has become a major element in achieving the American Dream. A recent report from the   National Association of Realtors  (NAR) finds that over   86%   of buyers agree homeownership is still the American Dream.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states. Prior to the 1950s, less than  half of the country  owned their own home. However, after World War II, many returning veterans used the benefits afforded by the  GI Bill  to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of  65.5% . That strong desire for homeownership has kept home values appreciating ever since. The graph below tracks  home price appreciation  since the end of World War II: The graph shows the only time home values dropped significantly was during the housing boom and bust of 2006-2008. If you look at ho...