5 Reasons To Sell This Spring

For Sale SignHere are five reasons listing your home for sale this spring makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd,  including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping.  According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 47 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 4.3% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Thinking about selling your home? Contact us today to find out how we can help!


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A New Housing Bubble Forming... Not Before 2024!


A recent report by CoreLogic revealed that U.S. home values appreciated by more than 37% over the last five years. Some are concerned that this is evidence we may be on the verge of another housing “boom & bust” like the one we experienced from 2006-2008.

Recently, several housing experts weighed in on the subject to alleviate these fears.

Sean Becketti, Freddie Mac Chief Economist

 “The evidence indicates there currently is no house price bubble in the U.S., despite the rapid increase of house prices over the last five years.”

Edward Golding, a Senior Fellow at the Urban Institute’s Housing Finance Policy Center

 “There is not likely to be a national bubble in the way that we saw the first decade of the century.”

Christopher Thornberg, Partner at Beacon Economics

 “There is no direct or indirect sign of any kind of bubble.”

Bill McBride, Calculated Risk

 “I wouldn’t call house prices a bubble.”

David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices

 “Housing is not repeating the bubble period of 2000-2006.”

A recent article by Teo Nicolais, a real estate entrepreneur who teaches courses on real estate principles, markets, and finance at Harvard Extension School concluded that the next housing bubble may not occur until 2024.

The article, How to Use Real Estate Trends to Predict the Next Housing Bubble, looks at previous peaks in real estate values going all the way back to 1818. Nicolais uses the research of several economists. The article details the four phases of a real estate cycle and what defines each phase.

Nicolais concluded his article by saying:

“Those who study the financial crisis of 2008 will (we hope) always be weary of the next major crash. If George, Harrison, and Foldvary are right, however, that won’t happen until after the next peak around 2024.  

Between now and then, aside from the occasional slow down and inevitable market hiccups, the real estate industry is likely to enjoy a long period of expansion.”

Bottom Line

The reason for the price appreciation we are seeing is an imbalance between supply and demand for housing. This has created a natural increase in values, not a bubble in prices.


Love Letters and Real Estate with John and Michelle Ternullo

Love Letters and Real Estate - John and Michelle Ternullo Rick Carter and Kathy Holtshouser sit down with John and Michelle Ternullo, who provide some great tips for home sellers and buyers in this informative 30 minute video/podcast! Get an inside scoop on Home Life with John and Michelle, learn more about their roles in the company, and get some valuable home selling and buying advice.

For sellers, the importance of staging, photography, videography, web appeal, and curb appeal are discussed. Learn about essential elements of home preparation, including decluttering, lawn maintenance, depersonalizing, and more. John and Michelle also explain why open houses are beneficial and discuss factors to consider when multiple offers are received.

For buyers, learn what to do (and what not do) when attending open houses. The importance of pre-approvals and down payments are also discussed. John and Michelle explain what love letters are, how they can help you, and what to include in them.

Watch this video featuring John and Michelle Ternullo, real estate attorney Rick Carter and paralegal Kathy Holtshouser, to learn more. 


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    Valentine's Day Shout Out to Yella Restaurant in Andover MA

    Michelle Ternullo and Carlo with Yella GrilleYella Grille is an excellent choice for a romantic dinner with your loved one this Valentine’s Day! This amazing restaurant has been around for nine years and is voted the Best Romantic Place on the North Shore. Located in downtown Andover, this modern Mediterranean restaurant offers a charming atmosphere with an intimate dining experience.

    Watch this video featuring Michelle Ternullo and Carlo, the owner and chef of Yella Grille, to learn more.

    Visit the Yella Grille website for more information or to make a reservation.



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      Where Are Mortgage Interest Rates Headed in 2018?



      "Many Buyers overlook interest rate and focus mostly on the price if the house. Buyers should take in consideration not only the price if the home, but the impact of interest rates and market appreciation."

      -John Ternullo 

      The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

      Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.


      How Will This Impact Your Mortgage Payment?

      Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

      According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

      If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

      Bottom Line 

      Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.


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        What Impact Will the New Tax Code Have on Home Values?

        Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months.

        Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report.


        As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by 4.2%.

        How might the new tax code impact these numbers?

        Recently, the National Association of Realtors (NAR) conducted their own analysis to determine the impact the new tax code may have on home values. NAR’s analysis:

        “…estimated how home prices will change in the upcoming year for each state, considering the impact of the new tax law and the momentum of jobs and housing inventory.”

        Here is a map based on NAR’s analysis:

        Bottom Line

        According to NAR, the new tax code will have an impact on home values across the country. However, the effect will be much less significant than what some originally thought.

        The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.