An important metric in today’s residential real estate market is the number of homes available for sale. Mike Eastwood Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states. The shortage of available   housing inventory   is the major reason for the double-digit price appreciation we’ve seen in each of the last two years. It’s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing. According to  data  from  realtor.com , active listings have increased over the last four months. They define active listings as: “ The active listing count tracks the number of for sale properties on the market , excluding pending listings where a pending status is available. This is a snapshot measure of how many active listings can be expected on any given day of the specified month.” What normally happens throughout the year? Historically, h...

  In today’s   sellers’ market , standing out as a buyer is critical. Mike Eastwood Author/Chief Executive Officer of Bello Sol Inc/West USA Realty of Prescott states. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high   buyer demand . If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Below are five things to keep in mind when it’s time to make an offer. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get  pre-approved  for a loan. As  Freddie Mac   puts it : “This pre-approval allows you to look for a home with  greater confidence and demonstrates to the seller that you are a serious buyer. ” Showing sellers, you’re serious can give you a competitive edge. It enables you to act quickly when you’ve ...

  If you’re on the fence about whether or not you want to sell your house this year, there are good news states Mike Eastwood Author/Chief Executive Officer of Bello Sol Inc/West USA Realty of Prescott.   Real estate professionals   are highly experienced in how to sell houses safely during the pandemic. Over the last year, agents have adopted new technologies and safety measures designed to keep you safe. And experts say these practices are here to stay. As Bob Goldberg, CEO of the   National Association of Realtors   (NAR),   puts it : “The pandemic has confirmed to all of us in the industry that  technology will continue to transform real estate .” Below is a closer look at some of the  new tools  real estate professionals are using to better serve sellers. New and Existing Technology Are Impacting the Process In the  2021 Realtor Technology Survey , NAR asks real estate professionals their opinions on the most valuable pieces of tech...

   One of the major storylines over the last year is how well the residential real estate market performed states Mike Eastwood Author/Chief Executive Officer of Bello Sol Inc/West USA Realty of Prescott. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year. Here are the latest percentages showing the year-over-year increase in home price appreciation: The  House Price Index (HPI)  from the  Federal Housing Finance Agency  (FHFA): 18.8% The  S. National Home Price Index  from  S&P Case-Shiller : 18.6% The  Home Price Insights Report  from  CoreLogic : 18% The dramatic increases are seen at every price point and in all regions of the country. Increases Are Across Every Price Point According to the latest  Home Price Index  from  CoreLogic , each price range is seeing at least a 19% increase year-over-year: Increases Are Across Every...