Freddie Mac Predicts 2015 Will be Biggest Year for Home Sales Since 2007

I've linked the article at the bottom of this post.

This does not come as a surprise because as unemployment has gone down along with interest rates, buyers will be out in troves this spring.

This is great news for homeowners. For potential buyers, give me a call before beginning your search. There is a good chance you'll be involved in bidding wars this spring and finding exclusive deals will help you avoid that.

Have a great holiday!

2015 Will be Huge

Inventory Turnover

A quick July market update for all.

The first two weeks of July have been slow weeks as many buyers seem to have packed their bags and headed on vacation. Homeowners, don't worry this is normal, do not get nervous and accept an offer you're not happy with. The buyers will be back in full swing in early August! 

To all of my agents out there, you can still prospect for buyers by following my "selling agent, not listing agent" webinar. If you haven't viewed it yet, contact me for access. 

As always if you have any questions, feel free to contact me. 

Kyle Kovats

201-403-1314 

KyleKovats@Gmail.com 

Outrageous

The one word I can use to describe the type of market that we are dealing with currently. Why is this market so outrageous? The number one explanation is interest rates.

With rates still hovering in the low 4's we are seeing a mass migration of buyers moving from their rentals out to the suburbs. In fact, many economists note that until interest rates hit roughly 6.5% it will be cheaper to buy than rent in New Jersey.

But the question remains, how long will rates stay near historically low levels? There's really no telling. Rates were predicted to be at about 4.5-5% this summer but we obviously have not seen that just yet.

If your a buyer, there truly has never been a better time to buy, take advantage of these rates while they're around. If you're a seller planning on "moving up", make the move now. The longer you wait the higher prices and interest rates will soar.

As always, if you have any questions give me a call (201-403-1314) or shoot me an e-mail (KyleKovats@Gmail.com).

Spring Market on Fire

Bidding wars are back, prices are up and inventory is wayyyyy down.

In Northern Jersey this years spring market is roughly 5.5% ahead of last years market for median sales prices.

The price appreciation is due in part to the lack of inventory combined with low interest rates which has buyers coming out swinging. When homes are marketed properly we've seen as many as 11 offers on a single property in less than a week!

Of my 6 listings in the past couple of months, my average sales to list price ratio is 104.7%. In other words my listings are on average selling for 4.7% above asking price.

If you're looking for an agent who will actively market your home and bring results, contact me for a free consultation.

Kyle Kovats
201-403-1314