Z House Realty Group

Are Home Values REALLY at Record Levels?

Posted by Janice Ziesig on August 01, 2015 in  Real Estate Market Statistics
Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report. The report announced that the median existing-home price in June was $236,400. That value surpasses the peak median sales price set in July 2006 ($230,400). This revelation created many headlines exclaiming that home prices had hit a “new record”: Wall Street Journal: Existing-Home Prices Hit Record USA Today: Existing home sales surge, prices hit record Though the headlines are accura... read more
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Some Highlights: Existing Home Sales are up 9.6% over last year. Homes Sold on Average in just 34 days! Inventory now stands at a 5.0-month supply. Distressed Sales made up only 8% of all sales. ... read more
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The price of any item is determined by the supply of that item, and the market demand. The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report. Inventory Levels & Demand Sales of existing homes rose 3.2% from May, outpacing year-over-year figures for the ninth consecutive month. Total unsold housing inventory is at a 5.0-month supply. This is down from May’s 5.1-month supply and remains below the 6 months that is needed for a historically normal market. C... read more
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5 Reasons You Should Sell Now!

Posted by Janice Ziesig on August 01, 2015 in  Real Estate Market Statistics  Sell
As the temperature continues to rise, buyers are coming out ready to purchase their dream home. Here are five reasons that you should list your house for sale now. 1. Strong Buyer Demand Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are significantly more prospective purchasers currently looking at homes than at any point in the last two years! These buyers are ready, willing and able to purchase…... read more
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Freddie Mac: Equity Matters (a Lot!)

Posted by Janice Ziesig on August 01, 2015 in  FANNIE MAE  MORTGAGE  Real Estate Market Statistics
According to a Merrill Lynch survey, over 80% of the people in this country believe that homeownership is still “an important part of the American Dream”. There are many financial and non-financial reasons people feel this way. One of the biggest reasons is because it helps build family wealth. Last week, Freddie Mac posted about the power of home equity. They explained: “In the simplest terms, equity is the difference between how much your home is worth and how much... read more
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