6 Key Real Estate Graphs that You Need to See

No matter what capacity you’re entering the Triangle area real estate market in—whether it’s buying, selling, or investing—it’s crucial to be prepared. By knowing all of the latest numbers on mortgage rates, median sales price, and average days on the market, you can gain a major advantage over your competition!

Since we want to ensure that each and every one of our clients is well-equipped to reach their goals, we wanted to give you a quick snapshot at all of the trends you need to know.

Here are the top 6 real estate graphs that you should study up on.

The Strength of the Current Market

Key takeaways:

  • Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home.
  • Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength of today’s market.
  • With the national data shown here, make sure to also determine what’s happening in your local market so you are fully informed when you’re ready to make your next move.

Navigate the Market with Linda Craft & Team REALTORS®

At Linda Craft & Team REALTORS®, we know the ins and outs of the local and national real estate market—and we’re more than happy to share that knowledge with you. Whether you’re buying and looking for a little help or selling and hoping for top dollar, our track record of satisfied clients shows that we have what it takes to lead you to success.

Ready to get started? Feel free to give us a call!

Ace Your Real Estate Experience: A+ Reasons to Hire an Agent

In a lot of ways, buying and selling a home is like a test. You want to make sure you study up on all of the materials and have the right supplies before you get started.

But maybe most importantly, you want to make sure you have a teacher that can guide you through the material in a way that’s easy to understand and sets you up for success.

If you’re on the fence about hiring an agent to help you buy or sell your home, here are a few ways we can help you ace the process.

Decode Contracts

Paperwork.

During the real estate journey, you’re going to have to deal with a lot of paperwork. Sometimes it’ll be easy to understand, but other times, all of that jargon will probably look like a foreign language—especially if it’s your first time.

We’ll make sure you’ll know exactly what the papers say, why they’re necessary, and what they mean for you.

Breeze through Negotiations

People shaking hands across a table.

If you aren’t used to negotiating, then this step in buying or selling a home can be tough to handle—especially since you’ll be emotionally invested in the process.

When you work with an experienced realtor, we’ll act as a buffer between you and the other party. Not only will we work to get the best deal possible for your wants and needs, but we’ll also provide a level-headed perspective.

Understand Pricing

People pointing at a laptop screen.

If you’re selling your home, then finding the right price is the key to success. Price too low, and you won’t maximize your investment. Price too high, and you’ll miss out on buyers—and maybe even have to bring your price down.

Luckily, we can make sure you have the right price from the get-go. With our home valuation, we’ll take into account all of the local and national real estate trends, as well as any updates you’ve made to your property.

When it comes to buying, we can also help you figure out whether you’re getting a fair price for your purchase. The last thing you want to do is spend your hard-earned money on a home that isn’t worth it!

Translate Market Conditions

People in a meeting.

Did you know we’re in a period of nearly unprecedented drops in mortgage rates? That home prices have been steadily ticking up this year? That more and more millennial buyers are entering the market?

We know all about the intricate details that make up the market conditions. These details can help decide everything from how high you can price your home to how long it’ll sit on the market. Before you even list or start searching, we can breakdown what the current conditions mean for your experience.

Benefit from Experience

People getting keys to a home.

Above all, we know the ins and outs of buying and selling. We’ve been around the block more than a few times—after all, our team does have hundreds of years of combined experience in real estate—so we know exactly what it takes to be successful.

You might have other options when it comes to real estate professionals in the Triangle, but if you get to know a little more about our team, you’ll start to understand why our clients swear by us.

Don’t Flunk Your Real Estate Journey

If real estate is like a test, then we think we can help you ace it. At Linda Craft & Team REALTORS®, we have years of experience with buying and selling homes in Raleigh—meaning we know exactly how to handle whatever the market throws at us.

Take some time to explore our resources, whether you’re buying, selling, or just exploring the area, and give us a call when you’d like to get started!

Boomerang Buyers: Why a Past Foreclosure Shouldn’t Stop You from Buying Again

Facing a foreclosure can be traumatic. Putting all of that hard work and hard-earned money into buying a home, only to have it fall through in the end, is the worst-case scenario for many buyers—enough that it may prevent them from buying again.

While it’s hard to imagine the impact that a foreclosure has, it doesn’t mean that your home-owning dreams are over. In fact, many “boomerang buyers” are gearing up to give it another go!

What is a Boomerang Buyer?

A woman on her laptop.

Following the housing crisis—from 2006 to 2014—there were 7.3 million foreclosures and 1.9 million short sales, according to CoreLogic. After going through the foreclosure process, buyers must wait about seven years before applying for mortgage again, although that timeline may be shorter if you qualify for an FHA loan.

Those buyers who have previously undergone a foreclosure but have chosen to buy a home once again have been coined as “boomerang buyers”—and now that a few years have passed, there are more and more entering the market!

The Latest Numbers

Women looking at a laptop.

The NerdWallet‘s 2019 Home Buyer Report sheds some light on the latest trends for boomerang buyers. Out of the 13% of Americans who lost a home in the past ten years, around 60% have not re-entered the market, and around 20% say they’ll never buy a home again. Those numbers are certainly cautious, and also a tad bit grim.

The good news, though? The numbers are starting to look up.

In January 2016, 2.8 million people who experienced foreclosures, short sales, or bankruptcies had those incidents dropped off of their credit report. Since then, 11.5% of them have successfully obtained a new mortgage!

Not only that, but of the 13% Americans who lost a home, 39% say they plan on buying within the next three years, and a staggering 58% say they plan to buy within the next five.

The bottom line? There’s still hope, despite past foreclosures!

Know Your Options

A family in a brightly lit room.

The most important thing for boomerang buyers going forward is to be prepared. In fact, 74% of formerly foreclosed buyers say that they will be more cautious about choosing a lender, agent, or loan.

When it comes to knowing and working with the top trusted lenders in the area, the Linda Craft & Team REALTORS® has a vast network of options. Since we’ve been working around the Raleigh area for years, we can leverage our unique expertise to ensure that you’re matched with the best possible experts in the area.

Buying a home—especially for boomerang buyers—is intimidating. But when you work with our team, we’re dedicated to laying out all of your options and helping you select the most prudent choice.

Ready to Buy Again?

Then we’re here to help. Team up with Linda Craft & Team REALTORS®, and let us help you buy your next home. With our resources, expertise, and local knowledge, we’ll ensure that your buying journey is both successful and seamless.

Give us a call today to begin exploring all your Raleigh home-buying options!

Home Prices are Not Crashing, They’re Coming to a Soft Landing

Luxury two story stone home.

Over the last several years, home prices have increased substantially throughout the country. Many homeowners are worried that this means we’re headed towards another housing crash.

Luckily, that’s not the case. We’ve written about it at length, but the real estate market is not heading towards a crash. While it’s true that home values are not increasing as dramatically as they have in the past five years, they’re by no means crashing or even declining.

Here’s What’s Going On

It’s not that the average price of homes in the market are decreasing. Rather, the appreciation of home values is slowing down.

This is because the market is shifting from an advantageous sellers market, to a more “normal” market where the intense demand of homes is matched by its inventory. That doesn’t mean we’re headed towards a crash!

The real estate market is stronger than it’s ever been.

This is Different than the 2008 Crash

A woman looking at a tablet that has market information displayed.

The last real estate market crash was caused in large part to extremely lenient mortgage standards. This created an artificial demand for new homes.

When this demand faltered, a rush of homes hit the market. Many of these properties were in distress or suffering from foreclosure, so they were heavily discounted.

Plus, mortgage standards are much stricter today than they were in 2008. In addition, foreclosures today are lower than they have been since 1996.

Home Prices are Leveling Up

And that’s a good thing! It means the market is returning to “normal,” which is good for buyers and sellers.

Want to Learn More About the Greater Raleigh Real Estate Market?

Then it’s time to give Linda Craft & Team REALTORS® a call. We have the area expertise and the real estate resources you need to make a wise financial decision in this highly competitive market.

Please reach out to us today so we can get started on achieving all your real estate goals.

Your Home May Be Worth More Than You Think

Happy RealtorYou probably wouldn’t have believed it a year ago, but today may very well be a great time to sell your home!

Prices have gone up substantially for a number of reasons, not the least of which is that more and more people are looking to buy. Couple this with the fact that inventory in the Raleigh market is low, and it becomes a simple supply and demand equation with the result being that homeowners are in the driver’s seat!

We have an online report that will provide a snapshot of your homes value and what surrounding homes have sold for. Simply visit www.LindaCraft.com/marketsnapshot. We believe you’ll be surprised when you read it!