We’re in the ultimate sellers’ market right now states Mike Eastwood Author-Chief Executive Officer of Bello Sol Inc/West USA Realty of Prescott. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer. High Buyer Demand Demand is strong, and buyers are actively searching for homes to purchase. In the  Realtors Confidence Index Survey  published monthly by the  National Association of Realtors  (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequ...

 I n a normal market, it’s good to have an experienced guide coaching you through the process of buying or selling a home states Mike Eastwood Author-Chief Executive Officer of Bello Sol inc/ West USA Realty of Prescott. That person can advise you on important things like   pricing   your home correctly or the first   steps   to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential. Today’s housing market is full of extremes.  Mortgage rates  hovering near record-lows are driving high  buyer demand . On the other hand, an absence of  sellers  is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more houses selling  over  their asking price. This is driving home price  appreciation  and gains in home  equity . These marke...

  During the Great Recession, just over a decade ago, the financial systems the world depended on started to collapse. It created a panic that drove some large companies out of business states Mike Eastwood Author- Chief Executive Officer of Bello Sol Inc/ West USA Realty of Prescott (ex. Lehman Brothers) and many more into   bankruptcy . The financial crisis that accompanied the current pandemic caused hardship to certain industries and hurt many small businesses. However, it hasn’t rattled the world economy. It seems that a year later, things are slowly getting back to normal for many companies. Why is there a drastic difference between 2008 and now? In a  post  from  RealtyTrac , they explain: “We changed the rules. We told banks they needed more reserves and that they could no longer underwrite toxic mortgages. It turns out that regulation — properly done — can help us navigate financial minefields.” Here are the results of that regulation, captured in a gra...

  For generations, the process of buying and selling a home never really changed states Mike Eastwood Author-Chief Executive officer of  Bello Sol Inc/West USA Realty of Prescott. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking. Today is different. The record-low  supply  of homes for sale coupled with very strong buyer  demand  is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a l...

 Mike Eastwood Author- Chief Executive Officer of Bello sol Inc/ West USA Realty of Prescott states.  When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight. Zelman & Associates  recently reported that  sales  of primary residences grew by 9% in 2020.  That increase in demand was met by the lowest supply of homes for sale in history. High demand and low supply caused prices to skyrocket over the past twelve months. Here are three home price indexes released most recently that show how home values have risen: FHFA Agency House Price Index  shows a 13.9% increase CoreLogic  Home Price Insights Report  shows an 11.3% increase S&P Case-Shiller U.S. National Home Price Index  shows ...

   Are you clamoring for extra rooms or a more functional floorplan in your house asks Mike Eastwood  Author-Chief Executive Officer of Bello Sol Inc/West USA Realty of Prescott? Maybe it’s time to make a move. If you’ll be able to work remotely for the long-term or your overall needs have simply changed, it’s a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in today’s market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market. With so  few homes  available for sale and high demand from today’s homebuyers, sellers are profiting in major ways this season.  Bidding wars  are gaining traction, driving up the sale price of more and more homes throughout the country. This means sellers are able to leverage extra cash from higher-priced sales while also taking advantage of today’...

  Our homes are so much more than the houses we live in states Mike Eastwood Author-Cheif Executive Officer of West USA Realty of Prescott. For many, they’ve also become our workplaces, schools for our children, and safe harbors in which we’ve weathered the toughest moments of a global pandemic. Today,   65.6%   of Americans call their homes their own, a rate that has risen to its highest point in 8 years. As National Homeownership Month kicks off this June, homeowners have every reason to celebrate. A survey by  Gallup  just ranked real estate as the  best investment  you can make for the eighth year in a row. However, unlike other investment options, the  benefits  of owning a home aren’t purely financial. Here are the top ways Americans are winning by owning a home. Non-Financial Benefits: 1. Civic Participation:  Owning a home is owning a part of your neighborhood. Homeowners have a stronger connection to their neighborhoods and are ...