Housing Outlook for 2014: Steady Sales and Higher Prices

Want to get an idea where the real estate market is headed in 2014? Check out this recent article (Housing Outlook for 2014: Steady Sales and Higher Prices) which discusses the speculations of NAR®’s Chief Economist Lawrence Yun who forecasts existing home sales to hold fairly even in 2014 and the median sale price of homes to increase nearly 6% with inventory shortages being felt again this year.

Meanwhile, the Kiplinger Letter, in its annual economic forecast issue, calls for a 4% increase in existing home sales. The publication says new home sales are likely to jump about 16% next year after soaring 36% in 2013 and 20% in 2012.

That’s great news for sellers again this year and means that buyers may breathe a little easier in the search for a home with a slight increase in inventory.

If you have questions about the market and are considering a move in the new year, give me a call today to discuss your options!

 

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Why You Should Consider Selling Your Home During the Holidays

Star Christmas Lights Hanging from an Eave

 If you are considering a move during this holiday season but you are unsure how the market will react, read on. You may be surprised to find that some of the most serious, ready-to-go buyers are waiting in the wings during the holiday season to take advantage of the market while others are out holiday shopping. At an open house a few weeks ago, I had over 125 people through both Saturday and Sunday, proof that plenty of buyers are waiting for your home to come on the market!

WHY SHOULD YOU CONSIDER SELLING YOUR HOME DURING THE HOLIDAY

  • Holiday buyers are particularly serious, committed and focused.
  • The corporate executive transferees have more free time to shop for a home now than at any other time of the year.
  • Over the holidays there are fewer homes available, therefore supply and demand work in your favor.
  • Homes are seasonally radiant during the decorative holiday period.
  • The holiday season is a time of heightened consumer spending.
  • Some buyers purchase homes as gifts.
  • Interest rates are still attractive.

TO PRESERVE PRIVACY OVER THE HOLIDAYS, AT YOUR REQUEST WE CAN TAKE AN EXCLUSIVE MARKETING APPROACH

  • All showings are by appointment and only available to qualified buyers.
  • Take a low key approach to advertising your home, reinforcing its exclusivity.
  • Don’t include property address in advertising.
  • Consider not placing your home on the MLS during the holiday period.
  • No lock box.
  • No open houses for either public or Realtors® (unless homeowners request otherwise)
  • No for sale sign.

If you are considering selling, give me a call today at (408) 410-2060 for a FREE home estimate. Also, remember, if you buy or sell a home through me, or refer me to someone who does, YOU get a FREE 16GB iPad4! What a deal!

Top 10 Winter Energy Saving Tips

Whether you’re able to make a big investment into cutting your energy costs or just looking for a few free and simple ways to save money, here are 10 helpful tips for keeping your energy bills down this winter.

No Cost

  1. Set your thermostat to 68 degrees. Your heating system will operate less and use less energy. By turning it down an additional five degrees at night, you could save up to $70 on energy costs each year.
  2. Set your water heater to 120 degrees. Your water heater won’t have to work as hard if it’s set to a lower temperature. In fact, each time you lower it 10 degrees, you’ll save 3-5% on water heating costs.
  3. Open window coverings on south-facing windows. This will help warm your house during the day. At night, cover all windows to help keep the heat in.
  4. Use cold water when washing clothes. Washing clothes in cold water could save you around $40 a year with an electric water heater and $30 with a gas water heater.

 

Some Cost

  1. Replace your furnace filter regularly. Dirty filters reduce air flow, making your equipment work harder. Replace your furnace filter monthly (unless it is a high efficiency filter) during the heating season to reduce heating costs by up to 5% or $35 a year.
  2. Install water-efficient showerheads and faucets. 1.8 gallon-a-minute showerheads can reduce your hot water consumption by as much as 10% and save $20 a year.
  3. Switch to compact florescent light (CFL) bulbs. They cost a little more but you’ll save about $40 over the life of just one bulb.
  4. Weatherize your home. You’ll save up to 10% on heating and cooling costs! Seal holes to the outside by weather-stripping doors and windows.

 

Larger Investment

  1. Insulate your home. By adding insulation to the attic, unfinished basement walls and crawlspaces, you could save 20% on heating and cooling costs. You may need to consult a contractor before taking on this project and I’d be happy to provide you with a referral.
  2. Purchase energy efficient appliances. Remember, items like refrigerators, washers, dryers, furnaces, TVs and computers have two price tags – purchase price and lifetime energy costs. Energy efficient appliances can save you up to $75 a year while helping save the environment.