What's Happening with North Monroe Real Estate?

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Today we have some exciting information about the North Monroe real estate market. We'll go over the whole area, which covers a lot of subdivisions. 

First off, we had 92 homes sold for under $200k. They averaged about $75 per heated foot, and they were on the market for about 83 days. 

In the $200k to $500k price range, 76 homes sold in the last 12 months. The average price was about $105 per foot, and they were on the market for about 82 days. 

We also sold 15 homes over $500k. Those homes averaged $175 per foot, and they were on the market for about 92 days. 

That's a total of well over 200 homes sold in the North Monroe area. The market is doing really well, especially in that $200k to $500k range. Houses are selling well, and prices per foot are hanging in there.

If you have any questions about today's video or about your area in particular, give me a call or send me an email. I would be happy to help you!

What Do Rising Interest Rates Mean for You?

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Today, we'll talk about what you need to know regarding rising interest rates. Rates are projected to rise starting in the fourth quarter of this year. By December 2015, rates will be at 4.3%, and by December 2016, rates will be at 5%. 

While a one percent raise might not seem like much, it can significantly affect both buyers and sellers. For example, let's say you're looking to buy a $200,000 home while rates are at 5%. If rates go up to 6%, you could only afford a $180,000 home. A one percent rise in rates is equivalent to 10% of home value.

Basically, while rates are low, more people can afford to buy your home. Low interest rates make it easier for sellers to sell their homes, and buyers will get lower monthly payments. We advise that you take advantage of these low rates now, as rates will continue to rise for the next few years. They will eventually come back down, but probably not for a few years.

If you have any questions, please give us a call or send us an email. We'd be happy to help you!

Introducing Our Newest Team Member

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We just welcomed our third child to our family, but we're both going full steam ahead with real estate! So today, we wanted to drop by and share some exciting news with you: we've added a new member to the Share Group! 

Her name is Dana Goehring, and she's joined our team to help us take care of all of our clients so we can continue to deliver the very best service in our industry.

If you have any questions, please let Dana know and we will make sure you're taken care of. We look forward to hearing from you!

What Should You Know About Real Estate in Frenchman's Bend?

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Today I want to provide you with a brief real estate market update for Lincoln Hills and Frenchman's Bend.

Let's first take a look at Lincoln Hills. Four homes have sold in this neighborhood so far this year, and the average price per sq. ft. is $96. The average days on market is currently at 48 days, but keep in mind that 25 days out of those 48 are spent on the closing process, so homes are selling a bit quicker than they appear to be. Also, there aren't many homes for sale in this area, and a lot of people want to move there, so if you're in Lincoln Hills and thinking of selling, now is a great time to do so.

Frenchman's Bend is another subdivision in Monroe that I'd like to take a look at. Thirty-five homes have sold in this area, and the average price per sq. ft. is sitting at $132 per foot. The days on market is sitting at 109 days, and this is because there are a lot of homes for sale in this area. This means that if you're looking to purchase a home, Frenchman's Bend is a great place to look because the market will be in your favor.

If you have a particular neighborhood that you would like to see a market update for, please don't hesitate to contact me. Real estate is ultra-local, so these market updates for small locales can reveal changing conditions.

If you ever need assistance buying or selling in Monroe, please don't hesitate to reach out to me!

What's Happening with Real Estate in Indian Lakes?

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Today I just wanted to provide you with a brief real estate market update for Parkwood Estates and Indian Lakes. This should be helpful whether you're buying or selling in the area. 

Let's first take a look at Parkwood Estates. Nine homes have sold in this neighborhood so far this year, and the average price per sq. ft. is $130. The average days on market is currently at 67 days, and the average age of the homes being sold is less than five years.

Indian Lakes is another subdivision in Monroe that I'd like to take a look at. Twenty five homes have sold in this area, and the average price per sq. ft. is sitting in between $81 and $136 per foot. The days on market is sitting at 73 days, and the age of homes being sold is brand new to fifty years old. 

If you have a particular neighborhood that you would like to see a market update for, please don't hesitate to contact me. Real estate is ultra-local, so these market updates for small locales are very telling of what is happening in a given market.

Next week we will be looking at Lincoln Hills and Frenchman's Bend, so please stay tuned.

If you ever need assistance buying or selling in Monroe, please don't hesitate to reach out to me!

Why Is It Smarter to Work with a Great Agent than to Sell Your Home Yourself?

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Today, we explain how a real estate professional can net homeowners more money than if they try to sell without the help of an agent.

Across the nation, national averages show that agents sell homes for 8-10% more than homes sold by their owner. A lot of people ask how this is true; after all, don't homes appraise for a certain amount of money? The final sale price is more flexible than most homeowners imagine. For example, the founder and CEO of ForSaleByOwner.com recently tried to sell a two-bedroom apartment in New York, but it sat on the market for six months. After caving in and hiring an agent, he was able to sell the home for $150K more than he was originally asking for and sold it in only 30 days.

A huge factor in getting homes sold is marketing. In the example listed above, the agent used his marketing expertise to create demand for the property. Sure, the homeowner had to pay the agent over $70,000, but he still ended up netting more money because of the price it sold for!

Don't take my word that you're better off working with an agent; just listen to two experts in the field of wealth building. Dave Ramsey, author of The Total Money Makeover, and Robert Kiyosaki, author of Rich Dad Poor Dad, both agree that it is a better financial decision to list with an agent than to try to sell the home yourself. Because your home is such a huge wealth asset, it's best to utilize the expertise of a professional than to do it yourself.

If you really want to get great results when using an agent, you need to work with a great agent. Part-time agents and agents who don't market themselves well should be avoided at all costs. Our team, on the other hand, is a full-service team that will get you results. If you are curious about that claim, give us a call or shoot us a quick email and we'll send you over our resume. We think you'll like what you see!

How Do You Begin the Buying Process in Monroe?

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Today, we want to discuss a topic many people have asked about recently: the home buying process.

The first thing to do when buying is to go speak with a lender. They can help you see what you can afford and whether you're eligible for a mortgage. Even if you're 6-12 months out from buying a home, it's never too early to speak with a lender. They'll go over all of your finances and help you improve your credit score if needed.

If you have any questions about the first step of home buying, don't hesitate to reach out to us. We would love to hear from you! 

For Sale By Owner vs. Listing with an Agent

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We're frequently asked by people whether it's better to sell their own home or have a real estate agent assist in the process. Most people prefer to sell their own home because they don't want to have to pay a Realtor the commission.

However, what most people don't realize is that using a real estate agent to sell your home nets you 8-10% more on the sale price, so the agent's 6% commission is nearly paid for by itself. An agent will also do all of the work for you. Selling a home is a full-time job that requires skill in negotiation, marketing, and much more. Real estate agents work with a plethora of industry professionals such as lenders, title companies, contractors, insurance agents, and more. 

If you're looking to sell for a profit, using the professional skill set of a real estate agent is the only way to go.

With this being said, there are certain scenarios where a FSBO sale may be better for you. If you're selling to a family member or a friend and you're not concerned about making a lot of money, then this may be a better option. 

If you need assistance buying or selling a home in Monroe, please don't hesitate to contact us. We would love to help you!

The Secret to Handling Multiple Offers in Monroe

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Hello, and welcome back! Today's topic is how to deal with multiple offers on a home! 

In a seller's market like we're in, we typically have a lot of sellers who have received multiple offers on their homes. This can be a tricky situation, so it's crucial to handle it correctly. The first thing to do once you receive multiple offers is request a pre-approval letter from all buyers. Only those who have a pre-approval on hand should be considered.

The next thing to do is inform all of the buyers' agents that you have multiple offers on the table. After doing this, you can give the agents a deadline to go back to their clients to put together their highest and best offer. Typically, a few of these interested buyers will bring back a better offer in only a couple hours! 

Be careful not to assume that just because you receive multiple offers early in the process, you will continue to receive them throughout. Sometimes, if you fail to accept one of the original offers, you may not have another shot. Bottom line: don't settle, but don't take the offers you get for granted! 

If you have any questions about multiple offer situations, or if you need real estate assistance of any kind, give us a call or shoot us an email. We would love to hear from you!

What's the Difference Between Buyer's and Seller's Markets?

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Hey guys, today we are going to talk about the difference between a buyer's market and a seller's market, and what the advantages and disadvantages of each are. The example I like to use is as follows:

In a buyer's market, you have 100 homes with 50 buyers. Even after all the buyers buy, there are still 50 homes on the market. In order to sell, you've got to lower your price to draw more attention and more buyers for your home to get it to sell. When that happens, home values decrease and buyers get good deals.

During a seller's market, you have the opposite. You have 100 buyers and 50 homes. The buyers then have to compete with one another to get the home they want. When this happens, home values increase and sellers get a better deal.

Over the course of 6 years, we typically shift from one to the other, and are rarely in a balanced market. If you have any questions for us or are wondering what current market conditions are like now, give us a call or send us an email. We look forward to speaking with you!

Monroe Real Estate Market Update

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A lot of people have been calling and asking us about how our market is performing. We're happy to tell you that even with oil and gas prices down, it's still performing very well.

The only bad thing we see is that there is a lack of inventory in the area. There are a lot of good buyers looking for homes, so sellers in Monroe can stand to make a very nice profit right now. Homes are selling for more money right now and they're also selling faster than they have in the past. A low supply and a high demand means good news for home sellers.

But buyers shouldn't be scared away by low inventory. Interest rates are incredibly low right now, so your affordability is much higher than it's been in recent years. If you buy now you can take advantage of steady appreciation.

As always, if you need any assistance when it comes to buying or selling, please don't hesitate to contact us. We're more than happy to help you!