Thursday, December 26, 2024 / by Joyce Dungca
Planning to buy a home soon? Why not go for something brand-new? Because data shows a lot more buyers are seeing the appeal of new home construction these days – and you may find out it’s what you want too.
The National Association of Realtors (NAR), explains that newly built homes accounted for 15% of all homes sold last year. That’s a significant increase, and is actually the highest percentage in 17 years (see graph below):
To get a closer look at why so many people are opting for a brand-new home, NAR surveyed recent buyers. And here are the top reasons why new builds gained so much popularity (see graph below):
Avoiding Renovations or Problems with Plumbing or Electricity (42%)
According to buyers, the number one benefit is the peace of mind that comes with getting brand-new everything. Because let’s face it, buying a home right now is pricey. And with inflation also putting a pinch on your wallet, you want t. ...
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team raj jaggi, buyers, sellers, housing market, newly built homes
Thursday, December 19, 2024 / by Joyce Dungca
When you sell your house, ideally, you want it to go something like this: your house sells for top dollar, you get it sold quickly, and it all goes down without a hitch.
But what many people don’t realize is that even in today's market where there are more buyers than homes for sale, there are still things that can cause delays or even keep a house from selling. According to Zillow, in 2024, as many as 1 in 3 sellers took their home off the market before it ultimately sold.
And while the reasons those houses didn’t sell are going to vary, there are some general themes that come through. If you’re having trouble getting your house sold, here are the top three hurdles that could be getting in the way, and how an expert agent can help you solve these issues.
1. Priced Too High
It’s no surprise that price plays a major role when you sell. And in today’s market, overpricing a home in a high-mortgage rate environment is the biggest thing; ...
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sellers, housing market, homes, home prices, selling, selling home
Wednesday, December 18, 2024 / by Joyce Dungca
Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.
You Likely Won’t Feel as Rushed
Homes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):
This is partly because fewer buyers are active at this time of year – and that decrease in buyer competition means the houses that are on the market aren’t going to be snatched up as quickly. So, if you decide to buy a home in the next couple of months, you’ll likely have more time to consider your options and negotiate a deal without feeling as pressured.
Sellers . ...
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buyers, housing market, homes, moving, home buyers, home buying, selling home, first time buyers, sale
Thursday, December 12, 2024 / by Joyce Dungca
When planning a move, a newly built home might not be the first thing that comes to mind. But with more brand-new homes on the market and builders focusing on smaller, more affordable options, this type of home may just be the key to crossing the homebuying finish line.
Here's why a new build is worth considering – and how an agent can help you find one that meets your needs and your budget.
1. More Newly Built Homes Are Available Right Now
First, let’s break down the types of homes on the market. A newly built home is a house that was just built or is under construction. On the other hand, an existing home is one a homeowner has already lived in.
Right now, the number of existing homes for sale is still low. And, if you’re struggling to find something you like because there aren’t that many existing homes for sale, opening up your search to include brand-new homes could really expand your options. That’s because there are more newly; ...
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team raj jaggi, buyers, sellers, newly built homes, home buying
Tuesday, October 15, 2024 / by Joyce Dungca
For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:
“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”
So, is there any merit to the myth? Let’s break down the best way to make sure you feel good about looking into new home construction. That way, you’re not missing out on such a great option today.
Choosing the Right Builder
The key to making sure you get a quality newly built home is to choose a good builder. Reputable builders adhere to strict building codes a. ...
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team raj jaggi, buyers, sellers, real estate agents, home buyers, new construction homes
