YouTube is a excellent way to bring a person thru a home, and video marketing is here to stay. The Fargo Moorhead market maybe a few steps behind the national average, but more than 50% of prospective home buyers use YouTube as their primary video research. Modern Market Realtors has been developing real estate YouTube videos for nearly 7 years, meaning we've invested a little time and effort in the video site’s infancy (before it blew up and was later bought by Google) Remember marketing is a contest for peoples attention, plain and simple. Video really gives the advantage. Modern Market Realtors created this channel to help market homes and its been a success. please check it out if you considering selling your home and would like our help. http://fargohomesearch.com/
Is it now a home buyers Market in Fargo Moorhead? That is a very complicated answer, technically id say yes it is now a buyers market. So home buyers can now applause, home sellers frown. The strongest area for home buyers would be in the over $300,000 range, that part of the market is being hit hardest in the FM area. Evidence of that is seen in the amount of homes on the market right now, including new homes built as well as existing homes for sale. I'm not sure where to put the blame on the drag in this price range, I suspect some of it is due changing buying habits. I definitely hear from buyers that we've been approved for this much but, only wanna spend this much. Seems to be a new generation that is looking for needs and less for wants. That maybe some of it, but not all of it. If I were to guess home sellers have not adjusted yet to the new market and tend to sit on their home price way too long. Over priced homes sit way too long and actually end up taking a much lower price at the end of the day.
In sharp contrast is the under $200,000, that seems to be humming along pretty nicely. Sales in the price range seem very quick and the good homes still go fast. There is still a huge market for starter homes in fargo moorhead that has not filled by the home builders. The only real area being filled by home builders are the twin homes in the starter home market. Existing homes in this price range will remain popular for the no specials, an no hidden costs. For this reason the existing starter home market will remain strong for the foreseeable future.
The over $300,000 could turn around soon with stable policy from the Federal Reserve, on the other hand it could be a real estate bubble that popped. We will have the answer next year I'm sure. If you need any advice on this or have a home to sell feel free to contact us at Modern Market Realtors.
While recent data darkened the growth outlook for the first quarter,
April data has experts predicting housing will maintain its momentum in
2016 and be an economic engine of growth. This insight comes from data
recently released by Freddie Mac. The report shows that recent declines
in mortgage rates have also boosted refinance potential.
“We’ve revised down our forecast for economic growth to reflect the
recent data for the first quarter, but our outlook for the balance of
the year remains modestly optimistic for the economy,” says Sean
Becketti, Chief Economist, Freddie Mac. “However, we maintain our
positive view on housing. In fact, the declines in long-term interest
rates that accompanied much of the recent news should increase mortgage
market activity, particularly refinance.”
Based on new data, first quarter 2016 real GDP growth has been revised down from 1.8 to 1.1 percent...Read More
Whatever you do, don't spend a great deal of time worrying about what will happen when you're selling one home and buying another.You're not alone. REALTORS®, lawyers, and title and escrow companies have had plenty of experience in arranging contracts and loans so that the two transactions flow smoothly.
It's best to list your current home for sale first!
Selling and buying a home is a very emotional event and if you create a "race" by locating your replacement property before you sell your current home, you may lose it to another buyer, who does not need to sell in order to buy. If you do find just the house you want, you can always put in a purchase offer contingent (dependent) on selling your present one. However, in a hot market you will have difficulty getting the house you want this way.
Sometimes the seller will sign a contract agreeing to wait a certain period of time while you find a buyer for your house - sometimes not. What would you do if you were presented with such a proposal, from a buyer who also has a house to sell? To put yourself in the best negotiating situation (therefore most likely getting the best deal you can on your purchase), you definitely need to put your home up for sale first.
There is a process your Realtor® can follow to guarantee that you are not without a home.
In the chance that you sell your house and you have not found one to buy, the Realtor® can make sure that you are in the drivers seat and that you aren't forced to go thru with the sale unless you've got a house that you want to buy. Ask your Realtor® about this to make sure you are protected. If you do not follow this process and just list your home for sale, once you are in that contract, you will legally have to go thru with the sale regardless if you have found a new home or not, so make sure you are protected or that you have a plan B.
*(If you do find that you need to buy the next house before you've received the proceeds from the present one, lending institutions can sometimes give you a short-term "bridge" loan or a home equity line of credit (HELOC) to tide you over between the two transactions. Make sure you fully understand the exposure and emotional investment before proceeding with this type of loan. This is something you would need to talk to your lender about and only necessary in rare situations.)