How Much Has Your Home Home Increased in Value?
DISCLAIMER: A Home Valuation report is not a substitute for a Real Estate Appraisal in purchase or refinance transactions. Home Valuation report is only available for homes in Utah.
How Much Has Your Home Value Increased?
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.
CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.
The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available).
New Home Prices Second Quarter of 2018
For Sale By Owner (FSBO) Statistics
- FSBOs accounted for 8% of home sales in 2016. The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.
- FSBO methods used to market home:
- Yard sign: 35%
- Friends, relatives, or neighbors: 24%
- Online classified advertisements: 11%
- Open house: 15%
- For-sale-by-owner websites: 8%
- Social networking websites (e.g. Facebook, Twitter, etc.): 13%
- Multiple Listing Service (MLS) website: 26%
- Print newspaper advertisement: 5%
- Direct mail (flyers, postcards, etc.): 4%
- Video: 2%
- None: Did not actively market home: 28%
- Most difficult tasks for FSBO sellers:
- Getting the right price: 15%
- Understanding and performing paperwork: 12%
- Selling within the planned length of time: 13%
- Preparing/fixing up home for sale: 9%
- Having enough time to devote to all aspects of the sale: 3%
Why You Want an Agent’s Advice for Your Move
Why You Want an Agent’s Advice for Your Move No matter how you slice it, buying or selling a home is a big decision. And when you’re going through any change in your life and you need some guidance, what do you do? You get advice from people who know what they’re...
How Changing Mortgage Rates Impact You
How Changing Mortgage Rates Impact You Some Highlights If you’re looking to buy a home, it’s important to know how mortgage rates impact what you can afford and how much you’ll pay each month. That’s because even a small change in mortgage rates can have a big impact...
Expert Home Price Forecasts for 2024 Revised Up
Expert Home Price Forecasts for 2024 Revised Up Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals, and they’re even more confident prices will rise, not fall. So, let’s see exactly how experts’...
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year
Some Experts Say Mortgage Rates May Fall Below 6% Later This Year There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last...
Strategic Tips for Buying Your First Home
Strategic Tips for Buying Your First Home Buying your first home is a big, exciting step and a major milestone that has the power to improve your life. As a first-time homebuyer, it's a dream you can make come true, but there are some hurdles you'll need to overcome...
It’s Time To Prepare Your House for a Spring Listing
It’s Time To Prepare Your House for a Spring Listing If you're thinking of selling your house this spring, now is the perfect time to start getting it ready. With the market gearing up for its busiest time of year, it'll be important to make sure your house shines...
Don’t Let the Latest Home Price Headlines Confuse You
Don’t Let the Latest Home Price Headlines Confuse You Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture. If you look at the national data for...
Maximizing The Benefits Of Home Equity When Downsizing
Maximizing The Benefits Of Home Equity When Downsizing When it comes to downsizing, homeowners often view it as a way to simplify their lives, reduce maintenance costs, or even relocate to a more desirable location. But what many don't realize is that downsizing can...
Why Pre-Approval Is Even More Important This Year
Why Pre-Approval Is Even More Important This Year On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024. What Pre-Approval Is...
There’s No Foreclosure Wave in Sight
There’s No Foreclosure Wave in Sight Some Highlights Headlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry. If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened...