Home Sales Rise at End of the Year

Like most housing data in November, the most recent New Home Sales report showed sales volume increasing last month, and home supplies falling.

According to the U.S. Department of Commerce, sales of new, single-family homes increased to 290,000 in November on an annual basis, a figure equal to the New Home Sales 6-month rolling average, and a 6 percent improvement from October.

At the current pace of sales, the national supply of new homes for sale will be exhausted in 8.2 months – a strong 0.6-month improvement from October.

This data is consistent with the most recent Existing Home Sales report. It showed sales volume rising 6 percent, too, and a similarly-strong inventory drop.

For the housing market in El Dorado, Sacramento, and Placer Counties. All in all, it’s another step in the right direction. Since May’s post-tax credit plunge, home prices have stabilized and a foundation for growth has been built. Home builder confidence data highlights this point.

Also interesting in the November New Home Sales report is the volume breakdown by price point. Less expensive homes powered the market:

» Homes under $200,000: 47 percent of all sales
» Homes between $200,000-$299,999: 29 percent of all sales
» Homes between $300,000-$399,999: 14 percent of all sales

Luxury homes accounted for less than 2 percent of sales last month suggesting that builders count first-time and move-up buyers as their core market.

As 2010 comes to a close, housing looks poised for a rebound. Sales in all categories are improving, relative to 6 months ago, and the economy is improving. In conjunction with rising mortgage rates, the best time to buy a new home may be now.

With new construction homes having to compete with the massive amounts of bank owned and short sale properties, new home builders have been forced to price their homes to compete with the marketing dominating bank owned and short sale properties. This is another buyer advantage in this buyer’s market. Contact you local area professional such as a real estate agent, loan officer, and appraiser for market information in your area.

How to Make a Fast Home Sale in Today’s Market

The economy has made life pretty rough for a lot of people this past year. A lot of home owners are finding themselves in situations where they either need to buy a home quickly or sell a home fast for a variety of different reasons. Whether you have to move to get work or you simply can’t keep up with your current home payments, there are options for moving quickly on the sale or purchase of a property.

Selling and buying homes through the traditional methods can take months and for some of the more unfortunate, it can take years. Between finding the best real estate agent to work with, researching properties or performing comparative market analysis, and taking the time to travel and view properties or setting up times to make an impressive showing, the process of selling a home quick is lost for sure. Not to mention those frustrating occasions when you make it all the way to the offer table and the deal falls through. It is back to the beginning of the whole process and even further away from a quick home sale or a quick home purchase.

If you need a fast house sale for cash, then going through a real estate agent is probably not your best option. There is another option and that is to work with cash buyers or property investors who specialize in fast home sales. In many cases, the condition of the property is not an issue and you can often seal a deal in two short weeks. If that is not a fast home sale, then you should see how long it takes on the traditional market.

For many sellers the toughest part of selling a home quickly is accepting the true market value of a property. Home values are not determined by the buyers or the sellers; they are determined by the value of the comparable houses in the same region. Consideration of condition is also a factor. When it comes to making a quick property sale or a fast property purchase, you must be willing to accept a realistic value of a property.

If your financial situation requires that you sell your home fast to pay off other outstanding debt, but you technically don’t want to leave your home, there are some cash buyers who will purchase your home quickly and then allow you to rent it back. This would give you the opportunity to settle outstanding debt through the fast home sale and not have to leave your lifelong home. There are still other cash buyers and property investors who will offer you a buyback plan where there is still the quick home sale to meet your current financial needs with the opportunity to purchase your beloved home back after your finances have improved.

Both Florida and Northern Virginia have been hit hard by the changing economy and the crashing housing market. Many homeowners are being forced to not only make a quick home sale, but to move and make a fast home purchase as well. When paying multiple mortgages is not an option or even paying a mortgage and rent is too much to handle, then consider using a cash buyer or distressed property solution company to buy a home fast or sell a home quickly.