Real Estate Market

November 2014

Existing Home Sales Report

Existing-home sales grew slightly in September marking their best rate for the year, according to a recent report by the National Association of REALTORS (NAR). Existing-home sales, which include recently purchased single family, townhomes, condominiums, and co-ops rose 2.4 percent in September to a seasonally adjusted 5.17 million annual units. Even with sales at the highest rate for 2014, the pace is 1/7% lower than the level seen in September, 2013 (5.26 million units)

Existing Home Sales By Region

NAR chief economist Lawrence Yun noted that the demand for buying observed since springtime has continued into the autumn season. "Low interest rates and price gains holding steady led to September’s healthy increase, even with investor activity remaining on par with last month’s marked decline," he said. "Traditional buyers are entering a less competitive market with fewer investors searching for available homes, but may also face a slight decline in choices due to the fact that inventory generally falls heading into the winter."

Total housing stock at the end of September declined 1.3 percent to 2.30 million existing homes available for sale, which represents a 5.3-month supply at the existing sales velocity. Despite fewer homes for sale in September, unsold inventory remains 6.0 percent higher than one year ago, when there were 2.17 million existing homes available for sale.

The Best Mortgage

Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage - whether it's a home purchase, a refinancing, or a home equity loan - is a product, just like a car, so the price and terms may be negotiable. You'll want to compare all the costs involved in obtaining a mortgage. Shopping, comparing, and negotiating may save you thousands of dollars.

The US Department of Housing and Urban Development offers a free brochure to help guide you through this process. Download a free copy today, and please contact us for a list of preferred mortgage professionals in our area.

Get Your Home Ready for Sale

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:

  • Bring in the light. The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical sun tubes.
  • Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
  • Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

Contact Information

Photo of The Gina Koerner Team Real Estate
The Gina Koerner Team
Keller Williams Realty West
5377 Highway N
St. Charles MO 63304
Office: (636) 229-8746
Fax: (636) 229-8747

       

      

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Licensed in Missouri