This Month in Real Estate: July 2016

Here are the national real estate statistics for July 2016!

Home sales are still moving up now at 5.5 million and the average price is up to $240,000 which is up 3.8% from June and up 4.7% from July 2015 making it an amazing time to sell!

The average interest rate for a 30 year fixed rate mortgage is down to 3.54% which gives buyers a great incentive to keep purchasing in this intense seller's market! For more on my strategy to help buyers keep reading...

I had my biggest closing so far on June 30, 2016 and was told that it was the busiest closing day for Ohio ever! It's exciting to be in this industry at such an interesting time and I'm very proud to be getting my buyers what they want in this seller's market. My buyers have closed at an average of 89% of list price at a time when people are in bidding wars and paying so much that the appraisals aren't even coming in at their offer price. One of my buyer's was thrilled to have instantly appreciated on his new home by $11,000 because of the appraisal value.

If you want someone to fight for you and be creative in this bustling market you won't regret having me in your corner! July is a very special month for me because it's my birthday as well as my sister's, my niece, my nephew and it's the month that I got engaged in Yellowstone. Not to mention celebrating living in the U.S.A. with our differences, troubles, triumphs but most importantly our freedom.

Hope you are having a wonderful summer! I give great referral gifts and would appreciate the opportunity to earn the business of your family, friends and coworkers.

How to Price to Sell and Still Make a Profit

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear, but won't leave money on the table. 

Here are some points to consider:

Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity.

Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants the same type of flooring, color of cabinet, style of home.

Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.