6 Ways to Be Home with Jagoe in a Seller's Market - Jagoe Homes
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seller's market

6 Ways to Be Home with Jagoe in a Seller’s Market

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6 Ways to be Home with Jagoe in a Seller’s Market – 2018 Housing Market Trends

What is a seller’s market? Simply put, it’s a market where there are more home buyers than sellers. Based on basic laws of supply and demand, this means that sellers have the upper hand. You will likely sell your used home quickly, perhaps even for over asking price, with minimum argument or push-back from the buyer. Here’s what buyers need to know about a seller’s market and how to survive them.

  • Home prices are rising in U.S. cities, and inventory is tight, meaning that there just aren’t enough homes to go around. When you think about it, even though the number of homes being built has increased over the past ten years, it has not kept up with the population growth.
  • Where are the hottest seller’s markets? The main metric used when evaluating housing markets is home price appreciation. With the greater imbalance of supply and demand, the price appreciation will get faster. Generally, when there’s an increase in the number of people moving to a town, demand for housing begins to exceed supply. Just as well, an influx of new companies and jobs can fuel population growth that turns areas into seller’s markets.

seller's market

  • The term “Housing Starts” refers to the number of new homes on which builders have started construction in any particular month. Because new construction directly affects supply, a decrease in housing starts can result in a seller’s market. See what the new construction trends are in Owensboro, Bowling GreenLouisville and Evansville.
  • Are you in a true seller’s market? Home buyers and sellers can evaluate whether they’re in a buys or sellers market by a few variables.
    1. Average days on market (DOM): This measurment shows the median age of real estate listings in your area. If homes are selling in your neighborhood in about ten days, then it’s a strong seller’s market. You can find what the average DOM is in your city using this Local Market Trends tool.
    2. The asking price vs. the final home price: In seller’s markets, bidding wars can often irrupt among buyers, which means sellers may enjoy a final sales price that’s equal to their asking price. So, if a home is listed at $450,000 and sells for $450,000, $460,000, or higher, that’s a seller’s market. In a strong seller’s market, the final sales price is typically at least 10% higher than the asking price.
    3. Home prices over time: Rising home prices over time is a sure sign of a seller’s market.
  • Buying a home in a seller’s market means that you need to be competitive. Make sure to get a mortgage pre-approval letter before you start shopping so that a seller knows that you are serious. You may also have to waive some contingencies to edge out other buyers.

seller's market

6 Ways to Be Home with Jagoe
  1. Did you know? From start to finish, Jagoe will complete the home of your dreams in 120 days! View our Building Process.
  2. Want to know? What kind of monthly payment gets you into your new dream home? A visit to our website helps you find out fast! Check out our Finance Options.
  3. Is your credit dinged? Our pros know how to help hardworking people get the home they deserve. It starts on our website. Yes, we make it that painless! Help to Improve Credit.
  4. Love interior design? Want to be the interior design decision maker? Building a Jagoe home gives you limitless options. Visit our website for ideas! Pick Your Options.
  5. Can’t wait? You don’t have to. We have beautiful, brand new homes all ready for you to move in. Find one in your community by visiting our website! Ready to Move-In Now.
  6. Want to save up to $30,000? We have gorgeous, band new homes all ready for you to move-in, and you’ll save big! Pick a Bunch of Savings.

Do you need help financing your new Jagoe Home? Visit our website for First Time Homebuyer Help, our Mortgage Center, Home Loan Learning Center, and Down Payment Assistance, or learn about our SureTrade Program!

 

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