Archive for March, 2013Posted on: March 22nd, 2013 No Comments
It should come as no surprise that a pool is more valuable in the summer than in the winter, but just how much more? Jaren Pope, an assistant professor at the University of Brigham Young has the answer. His research looked at more than four million real estate transactions in 27 states from 1998 thru 2008. When a swimming-pool home went under contract in August, it sold for an average of 0.22% higher than the baseline home sale. If the home went under contract in January, it sold for 0.15% less than the baseline. For a $300,000 home sale, that’s a difference of $1100. If a seller has the flexibility, selling a home with a pool should start in the spring so that the sale coincides with the hot summer months.
Posted on: March 19th, 2013 No Comments
Several weeks ago, Florida Realtors released a report profiling home buyers and sellers in the state. The following is a summary of key points from that report:
- 25% of buyers were first time buyers, as compared to 39% nationally.
- The typical Florida buyer was 55 years old compared to 42 years old nationally.
- 66% of buyers were married.
- 40% of buyers began their search online; 86% of all buyers used the internet sometime during the buying process.
- 84% of buyers used a real estate agent.
- The average buyer looked for 10 weeks and saw 10 homes before buying.
- The typical seller lived in their home 9 years before selling, up from only 6 years in 2007.
- 92% of sellers used a real estate agent.
- 5% of home sales were done as For Sale By Owner, and 40% of those knew the buyer beforehand.
- 32% of sellers offered incentives to attract buyers
- The average home sold for 93% of the listing price.
- 67% of sellers dropped the list price at least once before the home sold.