Practical Education for Potential Home Seller
We have hosted some great Buyer’s Seminars in the past but we figured that people selling a home need some love too, so the Michelle Hoagland Group hosted our first ever Home Seller’s Seminar on July 18th at the Keller Williams Preferred Realty offices. With over 20 attendees, we brought in experts in the fields of staging , inspections and appraisals. Special thanks to Jan Barns from St Croix Staging, Thomas Stone from Minnesota Residential Inspections and Brian Sunder from Marketplace Home Mortgage for being our resident experts for this event. Great night with some great customers and presenters.
It’s Not Softball Dude…it’s Called Cricket!
According to Wikipedi, “Cricket is a bat-and-ball game played between two teams of eleven players each on a cricket field”
The Michelle Hoagland Group may not be very good at playing Cricket, but we know great group of guys when we meet them so we became platinum sponsors of the USA Zalmi Cricket team this year. Some of the team members stopped by to present us with our official sponsor shirts. Notice that Gary is #7 but Michelle is #1. How did that happen?
New Home Sales Improved Modestly in June
Josh Boak, The Associated Press
WASHINGTON — U.S. sales of new homes perked up slightly in June, a sign that more would-be buyers are seeking newly built properties.
The Commerce Department said Wednesday that new-home sales edged up 0.8% to a seasonally adjusted annual rate of 610,000. Sales have registered a healthy 10.9% increase so far this year.
The gains come amid a broader shortage of homes listed for sale, likely pushing more buyers into new construction. Despite steady growth since the housing bubble began to burst a decade ago, sales of new homes remain below historic averages. Builders are contending with a lack of land for construction, a shortage of workers and rising costs for some materials.
Sales last month advanced in the Midwest and West, but purchases were unchanged in the Northeast and dropped in the South.
The June sales report indicates that the price and supply pressures will continue.
The median sales price of a new home fell 3.3% to $310,800. But the median obscures the overall trend of new construction toward more expensive homes. Just 13% of new homes sold last month cost less than $200,000, compared to the 17% for all of 2016 and 19% for 2015.
There have been sales gains in the price range of $200,000 and $299,000 that overlaps with the median price for existing homes. But new homes that cost more than $500,000 are also a growing share of sales.
There were 272,000 new homes on the market in June, the most since June 2009.
But that accounts for only 5.4 months’ supply based on the current sales rate. The gain in new-home inventory has been insufficient to offset the declines in sales listings of existing homes.
The National Association of Realtors said this week that there were 1.96 million existing homes for sale in June, a 7.1% decline from a year ago.