• CENTURY 21 M&M and Associates Blog

    Friday, December 29, 2017   /   by Glenn Chu

    Home Prices Up by 7% Over Last Year

    According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.
    A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand.
    CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain, 

    “Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014.
    This escalation in home prices reflects both the acute lack of supply and the strengthening economy.”

    This is great news for homeowners who have gained over $13,000 in equity in ...

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    Thursday, December 28, 2017   /   by Glenn Chu

    Why Getting Pre-Approved Should Be Your First Step

    In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.


    Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.


    Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:




    “It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”



    One of the many advantages of working with a local ...

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    Tuesday, December 27, 2016   /   by Wayland Chu

    Top 5 Reasons You Should Not For Sale By Owner

    In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
    Here are the top five reasons:
    1. Exposure to Prospective Buyers
    Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
    2. Results Come from the Internet
    Where did buyers find the home they actually purchased?

    51% on the internet
    34% from a Real Estate Agent
    9% from a yard sign
    1% from newspapers

    The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
    3. There Are Too Many People to Negotiate With
    Here is a list of some of the ...

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    Monday, December 19, 2016   /   by Wayland Chu

    2 Tips to Ensure You Get the Most Money When Selling Your House

    Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.
    1. Price it a LITTLE LOW 
    This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

    Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.
    Realtor.com, gives this advice:

    “Aim to price your property at or just slightly below the going rate. Today’s buyers are highly info ...

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