Buying & Selling Homes with The Collura Team

                                      Existing Home Sales Rebound in December  The National Association of Realtors (NAR) just released their latest Existing Home Sales Report on Friday. Sales of existing homes rose by the largest increase ever recorded as they rebounded 14.7% over November’s numbers and now stand at 7.7% higher than a year ago. While this is great news for the housing market, let’s take a look at one of the main reasons why there was such a large increase in sales. As we explained last month , the implementation of the “Know Before You Owe” (TRID) initiative delayed some closings, pushing a portion of November's would-be transactions to close in December. "December's rebound in sales is reason for cautious optimism that the work to prepare for ‘Know Before You Owe’ is paying off," says NAR President Tom Salomone. Lawrence Yun, NAR’s Chief Economist , had this to say

Rents Still Skyrocketing !                                                               Zillow recently revealed that the 43 million renter households in the US spent $535 billion on rent in 2015. Aggregate numbers like these often make it difficult to truly assess a situation. For more clarity, we want to share some points that were made in a Wall Street Journal article earlier this month. The article made two important points: 1. Rents are increasing faster than the last several years:  “Apartment rents increased faster last year than at any time since 2007.” 2. Rent increases are accelerating “Another report from Axiometrics Inc., a Dallas-based apartment research company, showed that rents increased 4.7% in the fourth quarter compared with the same quarter a year earlier, the strongest year-end performance since 2005”. Here is a graph to illustrate the rate of increase over the last several years:

                                                                           Are You Wondering What It Takes To Buy Your First Home? There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still others might think their current income would never enable them to qualify for a mortgage. We want to share what the typical first time homebuyer actually looks like based on the National Association of REALTORS most recent Profile of Home Buyers & Sellers . Here are some interesting revelations on the first time buyer: Bottom Line You may not be much different than many people who have already purchased their first home. Meet with a local real estate professional today who can help determine if your dream home is within your grasp.

                                          Why Do Americans Consider Moving? [INFOGRAPHIC] Some Highlights: In a recent Harris Poll , Americans listed "change in climate/weather" as their top reason for wanting to relocate. 41% would move for a better job opportunity. Being closer to loved ones filled out 3 of the top 6 reasons why American's move.

                                         Thinking of Buying a Home? 3 Questions Every Buyer Should Answer First If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Answering the following 3 questions will help you determine if now is actually a good time for you to buy in today’s market. 1. Why am I buying a home in the first place? This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money. A study by the Joint Center for Housing Studies at Harvard University reveals that the four major reasons people buy a home have nothing to do with money. They are: A good place to raise children and for them to get a good education

Change in Home Sales by Price Range [INFOGRAPHIC] Some Highlights:  Home Sales are up year-over-year in the top 4 price ranges and only slightly below last year's numbers in a fifth. A lack of distressed property inventory has led to a slow down in sales in the under $100K price range. As home prices continue to rise, there will be less homes available for sale in the lower ranges.