As we enter fall, there are a few things that we typically observe. One is a buildup in inventory which is often the result of slower sales rates. Another market feature that we often observe is an increase in days on market. This market mechanism, which manifests as strong seasonal patterns, often results in more moderate price changes during the fall months, as demand softens and available supply expands. August figures, which are revealed be... read more
Looking year-over-year, the number of single family escrows opened and homes closed have been more than respectable. Closings are up nearly 20% year-over-year when measured in July and the year-to-date numbers are solid also. Price increases have moderated and we believe this is a welcome pause after the consistency in vibrant price increases. We have already experienced more price amplification than we expected back in Ja... read more
Coldwell Banker Premier Realty (CBPR) recently met with American Home Shield to help provide our readers with a general understanding of home warranties. Home warranties, from a simplified view, protect homeowners from appliance, HVAC, and plumbing failure. This form of insurance can help protect homeowners from those sudden high-cost breakdowns of your washer and dryer, ductwork, and even electrical issues.
Finding your own contractor, let alone a reliable one that will get the job done within a reasonable time... read more
So far 2015 is looking a lot like 2014 in terms of closings. Both single family homes and condominiums are very close to 2014 levels between January and May. However, the type of buyer has been shifting with prices ratcheting higher during the past year. Investors now make up a relevant but declining share of closings and the higher prices have likely tempered some first-time buyer interest although low interes... read more