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Steve’s Stat’s – Shippensburg Real Estate Stat’s for March 2017

Steve's Shippensburg Real Estate Market Stat's - March 2017 Number of active homes for sale in Shippensburg Area School District: 125 Number of homes sold in the past 3 months in Shippensburg: 57 Absorption Rate: |125/(57/3)| = 6.58 The Absorption rate is defined as the number of months it will take to sell through the current housing inventory given the current sales pace.  This number measures housing market activity and is used to determine whether the real estate market place is one which currently favors the buyer or the seller.  A measurement of 6 is defined as an average point.  A higher measure results in a market which favors the buyer.  a lower measure than 6 describes a marketplace in which the seller has the  read more...

Steve’s Stat’s – January 2017

Steve's Shippensburg Real Estate Market Stat's - January 2017 Number of active homes for sale in Shippensburg Area School District: 127 Number of homes sold in the past 3 months in Shippensburg: 61 Absorption Rate: |127/(61/3)| = 6.25 The Absorption rate is defined as the number of months it will take to sell through the current housing inventory given the current sales pace.  This number measures housing market activity and is used to determine whether the real estate market place is one which currently favors the buyer or the seller.  A measurement of 6 is defined as an average point.  A higher measure results in a market which favors the buyer.  a lower measure than 6 describes a marketplace in which the seller has the  read more...

Steve’s stat’s – September 2016

Steve's Shippensburg Real Estate Market Stat's - September 2016 Number of active homes for sale in Shippensburg Area School District: 151 Number of homes sold in the past 3 months in Shippensburg: 80 Absorption Rate: |151/(80/3)| = 5.66 The Absorption rate is defined as the number of months it will take to sell through the current housing inventory given the current sales pace.  This number measures housing market activity and is used to determine whether the real estate market place is one which currently favors the buyer or the seller.  A measurement of 6 is defined as an average point.  A higher measure results in a market which favors the buyer.  a lower measure than 6 describes a marketplace in which the seller has the  read more...

Steve’s Stat’s – August 2016

Steve's Shippensburg Real Estate Market Stat's - August 2016 Number of active homes for sale in Shippensburg Area School District: 141 Number of homes sold in the past 3 months in Shippensburg: 85 Absorption Rate: |141/(85/3)| = 4.98 The Absorption rate is defined as the number of months it will take to sell through the current housing inventory given the current sales pace.  This number measures housing market activity and is used to determine whether the real estate market place is one which currently favors the buyer or the seller.  A measurement of 6 is defined as an average point.  A higher measure results in a market which favors the buyer.  a lower measure than 6 describes a marketplace in which the seller has the  read more...

Steve’s Stat’s – July 2016

Steve's Shippensburg Real Estate Market Stat's - July 2016 Number of active homes for sale in Shippensburg Area School District: 140 Number of homes sold in the past 3 months in Shippensburg: 76 Absorption Rate: |140/(76/3)| = 5.53 The Absorption rate is defined as the number of months it will take to sell through the current housing inventory given the current sales pace.  This number measures housing market activity and is used to determine whether the real estate market place is one which currently favors the buyer or the seller.  A measurement of 6 is defined as an average point.  A higher measure results in a market which favors the buyer.  a lower measure than 6 describes a marketplace in which the seller has the  read more...

How To Get The Most Money When Selling Your House

  How To Get The Most Money When Selling Your House Every homeowner wants to make sure they maximize their financial reward 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.  read more...

#1 Reason to List Your House Today

#1 Reason to List Your House Today f you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait! Buyer Demand Continues to Outpace the Supply of Homes For Sale According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years. The graph below shows the significant increase in foot traffic experienced this year compared to 2014. The latest Existing Home Sales report shows that there is currently a 5.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below August 2014 numbers. The chart below details the  read more...

Thinking of Selling? 5 Reasons You Shouldn’t For Sale By Owner

Thinking of Selling? 5 Reasons You Shouldn’t For Sale By Owner In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s attorney (in some parts  read more...

Sales Up In (Almost) Every Price Range!

  The National Association of Realtors’ most recent Existing Home Sales Report revealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-7.7%). The decline in this price range points to the lower inventory of distressed properties available for sale and speaks to the strength of the market. Every other category showed a minimum increase of at least 5.6%, with sales in the $250,000- $500,000 range up 16.9%! Here is the breakdown: What does that mean to you if you are selling? Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit  read more...

Home Equity: You May Have More Than you Think

CoreLogic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of allmortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported: “For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.” Obviously, this is great news for the financial situation of many homeowners. But, do they realize their equity position has changed? A recent study by Fannie Mae suggests that many homeowners are unaware that their equity position has changed…in some cases dramatically. For  read more...