Mutliple Offers, Highest and Best, Bidding wars. How long will this market continue to last?
The Team Hinton Real Estate Group blog is a place for all the latest news and updates about the Real Estate market will appear. Learn all about the latest and greatest tips and tricks to buying a home or selling a home. Also, get the latest updates about Team Hinton and our ever growing team of real estate agents in ypsi.
Get ready for another strong year in the 2018 housing market! U.S. home values and sales volume will continue to rise in 2018. Find out how you can maximize your Real Estate selling or buying this coming year.Read More
The corner of Pearl and Washington Street is one of downtown Ypsilanti's Location most lively intersections and home to the Hinton Real Estate Group office. This January marks the one year anniversary at 36 North Washington Street, and what a year it has been! Highlighted by many the many positive people and community connections we’ve made. We look forward to more in 2018!Read More
Turning up the heat too often during the winter could translate into a shocking heating bill each month. Nobody wants to pick between paying for heat and other necessary expenses. With these tips, homeowners can minimize their heating expenses without being left in the cold.Read More
A good book store is like your favorite relatives house; you love going there-and you never know what you’ll find. Kip and Carlos, co-owners of Blackstone Bookstore and Culture Center reflect on five years in the business and the importance of a space for their message. There’s never a shortage of new and captivating reads, rich body butters amidst tubs of shea butter, imported curios, or an event to attend- check out our interview!Read More
Hinton Real Estate Group wrapped up the 2017 First Friday's season with featured guest artist Morgan Burgard. Read our interview with Morgan as she shares her art and inspiration. Special Thanks to the First Fridays Ypsilanti Team for their hard work in putting together such a great community program! Hinton Real Estate Group looks forward to the 2018 Frist Friday season, stay tuned in the meantime for events and workshops sarting in January!Read More
Looking for the perfect present for a loved one this holiday season? We’ve rounded up 20 of our favorite gift ideas. And since we work in real estate, we focused on items that add enjoyment, comfort and, in some cases, major value to your home.Read More
CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.
With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.
Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,
“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”
Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.
If this trend continues, the country will be back to 2005 levels by the end of 2017.
As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease.
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If you’ve entered the real estate market, as a buyer or a seller, you’ve inevitably heard the real estate mantra, “location, location, location” in reference to how identical homes can increase or decrease in value due to where they’re located. Well, a new survey shows that when it comes to choosing a real estate agent, the millennial generation’s mantra is, “local, local, local.”
CentSai, a financial wellness online community, recently surveyed over 2,000 millennials (ages 18-34) and found that 75% of respondents would use a local real estate agent over an online agent, and 71% would choose a local lender.
Survey respondents cited many reasons for their choice to go local, “including personal touch & handholding, longstanding relationships, local knowledge, and amount of hassle.”
Doria Lavagnino, Cofounder & President of CentSai had this to say:
“We were surprised to learn that online providers are not yet as big a disruptor in this sector as we first thought, despite purported cost savings. We found that millennials place a high value on the personal touch and knowledge of a local agent. Buying a home for the first time is daunting, and working with a local agent—particularly an agent referred by a parent or friend—could provide peace of mind.”
The findings of the CentSai survey are consistent with the Consumer Housing Trends Study, which found that millennials prefer a more hands-on approach to their real estate experience:
“While older generations rely on real estate agents for information and expertise, Millennials expect real estate agents to become trusted advisers and strategic partners.”
When it comes to choosing an agent, millennials and other generations share their top priority: the sense that an agent is trustworthy and responsive to their needs.
That said, technology still plays a huge role in the real estate process. According to the National Association of Realtors, 95% of home buyers look for prospective homes and neighborhoods online, and 91% also said they would use an online site or mobile app to research homes they might consider purchasing.
Many wondered if this tech-savvy generation would prefer to work with an online agent or lender, but more and more studies show that when it comes to real estate, millennials want someone they can trust, someone who knows the neighborhood they want to move into, leading them through the entire experience.
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The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.7% over last year.
How will this impact buyers?
More inventory means more options. Danielle Hale, Realtor.com’s Chief Economist, explained this is good news for the housing market – especially for those looking to buy:
“It’s not spectacular construction growth, but it’s slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed.”
How will this impact sellers?
More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:
With an increase in competition, the seller may not enjoy these same benefits. As Hale said:
“As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today’s quick-moving housing market.”
If you are considering the sale of your home, it might make sense to beat this new construction competition to the market.
For more Information on Selling your home Click Here.
So, if your family moves, but you want your children to stay in the school district they are familiar with, or you want your child to have access to a specific type of program, or it works better for your family to have your children attend school closer to your place of employment - whatever the case, Michigan's School of Choice program can offer many different options.Read More
IN RECOGNITION OF MARTIN LUTHER KINGS BIRTHDAY AND CONTRIBUTIONS, OUR OFFICE WILL BE CLOSED. Please take a moment and read a Re-post by Terri Ludwig on the contribution Dr. King made to what we know today as the Fair Housing ActRead More
A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their house in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.Read More
If you could spend one more day with a loved one already departed, how would you spend it? What would you do? Mitch Albom became fascinated by this question while writing the book, For One More Day.Read More
The Team Hinton Real Estate Group is a Buyer's Boutique that is dedicated to making your home buying or selling experience the best and mist enjoyable experience it an be!
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