All Home Sales Blog

Wednesday, August 15, 2018   /   by Scott Goodnight

4 Reasons Why We Are Not Heading Toward Another Housing Bubble

With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s market is quite different than the bubble market of twelve years ago.
Here are four key metrics that will explain why:

Home Prices
Mortgage Standards
Foreclosure Rates
Housing Affordability

1. HOME PRICES
There is no doubt that home prices have reached 2006 levels in many markets across the country. However, after more than a decade, home prices should be much higher based on inflation alone.
Last week, CoreLogic reported that,

“The inflation-adjusted U.S. median sale price in June 2006 was $247,110 (or $199,899 in 2006 dollars), compared with $213,400 in March 2018.” (This is the latest data available.)

2. MORTGAGE STANDARDS
Many are concerned that lending institutions are again easing standards to a level that helped c ...

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Wednesday, August 15, 2018   /   by Scott Goodnight

5 Reasons to Hire a Real Estate Professional Before Entering the Market!

Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal!
The 5 reasons you need a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates and home prices as the market continues to pick up steam.
1. What do you do with all this paperwork?
Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your drea ...

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Wednesday, August 15, 2018   /   by Scott Goodnight

The Wave of Millennial Homebuyers Continues to Swell

Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream.
Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.
For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice.
According to the Urban Institute’s State of Millennial Housing, the probability of a millennial becoming a homeowner increases by 17.9% if they are married, and by an additional 6.2% if they have children.
Last year, according to the US Census Bureau, the average age at first marriage was 30 for men and 27 for women, while the National Association of Realtors (NAR) reports& ...

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Wednesday, August 15, 2018   /   by Scott Goodnight

Is Housing Affordable?

As home prices continue to rise due to a lack of inventory, many people are becoming more concerned about housing affordability. Taking a look at NAR's Housing Affordability Index puts that concern to rest. Let's get together to go over your specific market and determine whether or not you are ready to buy today!

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Wednesday, August 15, 2018   /   by Scott Goodnight

Supply & Demand Will Determine Future Home Values

Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as:

“The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”

When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.
Here are the numbers for supply and demand as compared to last year since the beginning of 2018:

The increase in the June numbers doesn’t mean that ...

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Hudson Stonegate Team - HomeSmart Cherry Creek
Scott Goodnight
8774 Yates Drive, Suite 100
Westminster, CO 80031

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