Posts with tag 'Levin Rinke Realty'
Levin Rinke Realty Blog
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October
20
20
Escambia & Santa Rosa County Real Estate Market Overview – 3rd Quarter 2020
With low inventory and high buyer demand, homeowners could earn a larger profit on their houses and sell them quickly.
The greater Pensacola area has experienced a rise in property values during an extraordinary global health crisis. This may seem absurd, but we are not alone! All across the country, homeowners have seen the very same trend.
Where We Have Been
The consequences of the 2008 housing crisis impacted the area as they impacted the rest of the country. The excessive amount of speculative buying came to a halt and left an abundance of inventory, driving prices down since pre-recession levels.
Where We Are Currently
Today, we have the Dodd-Frank act in place which requires...
October
6
6
Why Pricing Your House Right Is Essential?
In today's real estate market, setting the right price for your house is one of the most valuable things you can do.
According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts antici...
September
2
2
6 Best Ways to Win in a Bidding War
Sometimes the demand for homes exceeds the supply. This is known as a seller's market. A seller's market poses a real challenge to buyers who must compete with many others wanting to buy the property. Such situations may result in bidding wars which can drive the sale price well beyond the initial asking price. Before learning how to win a house bidding war, let's look at the definition.
What is a Bid...
July
20
20
Does Your Home Have What Buyers Are Looking For?
There's a great opportunity for today's homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com:
"Sellers continue returning to the market at a cautious pace and further improvement could be c...
June
2
2
2020 Home Prices: All About Supply & Demand
As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what's to come. Making our way through the month of June and entering the second half of the year, we face an undersupply of homes on the market. Keep in mind, this undersupply is going to vary by location and by price point. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. Historically, 6 months of supply is considered a balanced market. Anything over 6 months is a buyer's market, meaning prices will depreciate. Anything below 6 months is a seller's market, where prices appreciate. The graph below shows inventory across the count...