New Homes Sales Rise 6.4% in The Cliffs For April

2014 is starting to turn out to be the home of steady increases. In 2013 we saw a steadfast trend that made the The Cliffs real estate market bounce back immensely from the fall of 2008. The increase in prices rose approximately 13% during 2013 and 2014 has been a slowly but surely steady increase as well. Just announced today, new home sales have risen 6.4% for the month of April showing no signs of stopping the market as the summer months start to heat up.

Nationally, 407,000 new homes sold was the set pace for March, and April took that to the next level with 433,000. Originally, the Wall Street Journal economist even stated that April would only be seeing approximately 420,000 new homes sold. A modest 13,000 over the prediction is not a bad way to ease in to the upcoming hot summer months.

New single family houses are currently on the rise as the trends tend to show that most of the home buying and selling seasons increase dramatically in May, June, July, August and September. An increase in April is the perfect first act to our real estate play that is about to unfold.

Over the past few months, The Cliffs home prices have remained high while mortgage rates have priced many individuals looking to move or purchase their first property out of the market. With the recent fall of the mortgage rate to an astounding 4.14%, buyers are starting to come to the market with purchasing their new home in sight as affordability is becoming a mainstay of this current rate.

“The more reliable building permits data suggest that demand for new single-family homes bottomed out in the first quarter after a rate-related pullback in late 2013, and has resumed mild growth,” economists at Wrightson ICAP stated. Sales of previously owned homes has risen nationally as well up 1.3% this previous month to approximately 4.65 annually. As of right now, existing home sales takes a majority of the The Cliffs real estate market with an astounding 90% of all of transactions in the United States.

What is nice to notice though is that although the drastic increase that we saw last year helped to pick up the real estate market out of our current slump, the steady and every so slightly subtly increase month after month is a nice indication that the market is here to stay.

Can Small Home Fixes Increase My Greenville Property Value?

If you recall, a few weeks back we finished our series on the Top 10 weekend fixes to increase your Greenville property value. Our topic this week picks up on those articles and dives even deeper in to the question of do little fixes boost home sales? Hiring out a local handyman can be the answer to all of your troubles on your property, but prioritizing these repairs can be the hard part. Based on this recent survey though, we can see just what major repairs will allow for the highest return on investment on your Greenville home.

What is a little surprising from these statistics are just how much of a return on your investment you truly can get just from little minor changes. These stats are derived from 675,000 projects that were sent in to porch from property owners, builders, realtors, architects and others as well. “Just doing these minor things will help your house sell quicker and typically for more money,” says Brad Carlson of the Woodlands, Texas.

One of Mr. Carlson’s listings actually sat on the market for over two whole months with out as much as an offer to show for the property. Through the suggestion of changing out the sellers old outdated furniture for a new appeal, the home closed very close to it’s actual listing price just two days later. Statistics do show that sellers spend close to $4,000 while buyers spend upwards of $20,000. Just a few minor tweaks to the home though can make a world of a difference in any property. When looking to list your Greenville Real Estate, these changes could mean the difference in an offer above or below listing price.

Who Is Purchasing Greenville Luxury Homes?

Luxury real estate is always on the top of every buyers list when they have the sufficient amount of income to own that dream home they have always pictured owning. Every young adult dreams of one day owning the American Dream and having that large Greenville home to have their family and friends over for the weekend, show off to all of their neighbors and friends and live the life of luxury. From these recent surveys, we now have a little bit better of an understanding as to who is looking to purchase this property after all.

The biggest statistics that stands out to us is that 13% of those surveyed stated that they were actively looking. To get a sample size in which 15-20% of those surveyed say they are actively looking for a home is hard enough, but in this case 13% stated that they were in fact searching for a Luxury Greenville home. What’s even more impressive is that over 1/4th of the surveyed participants went on to say that they might purchase a luxury home. Now obviously a luxury home is just an adjective to describe a very highly priced property that is listed well over the average property value of the normal home in the United States. When we think of Luxury properties, we tend to think of the $500,000+ range. Now when you think of that number and look at the statistics, these percentages become even more eye opening.

The pie chart does state that resale value is quite important and we can agree that 63% of those surveyed had this correct. The last thing that you want in your life is a highly priced Greenville Luxury Home that you will not be able to get your return on. After 2008 occurred, it is quite obvious that resale value should always be in the back of every purchase you make. These homes are meant to be enjoyed but mainly to produce equity. They are investments and every homeowner wants to get at least what they put in the property back in their bank account when they look to resale it, if not even more.

Purchasing a Greenville luxury property is a big step though. The alarming part in this data is that the highest percentage number of those that are starting to search for properties are due to recent career success. We always state that you should always be cautious with any purchase, especially if it is from a whim. The more you work for the property the better it will be, but the last thing you want after purchasing a home like this is a short sale or foreclosure. Make sure that you can afford the mortgage payments and plan for these high increases.

Overall though, the Greenville Real Estate Market is getting hotter, which only means that the luxury market is rising as well. Based off of these statistics we can easily notice that home owners are looking to upgrade their current properties as the prices continue to rise. Increase your home equity is  smart move on every home owners part, and with a Luxury Home that can help increase your net worth that much more.