Posts made by author 'Carol Solis'

IMMEDIATE RELEASE: Wed., Jan. 9 th, 2019

Home Buying Slows for Fourth Quarter, Year-End Receives High Marks, & Lack of Inventory Continues to be a Challenge

Greater Charlottesville Area 2018 Fourth Quarter & Year-End Highlights:

• Home sales decreased 3.2% (841) compared to Q4 2017 (869), while year-end indicated a 5.7% gain.

• The median sales price remained steady at $300,000 compared to Q4 2017, as year-end marked a 4.6% growth.

• The median days on the market in the 4th Quarter was 63, 8-days lower than in Q4 2017, while year-end showed a 13.8% drop (9-days fewer...

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Shared Information by Association of Exclusive Buyers Agents (NAEBA) and Keeping Current Matters

Are you coming up on retirement age and thinking about where you'd like to live in "your golden years?" More and more baby boomers are entering retirement age, and question whether or not to sell their homes and move. In today's housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home's ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), listed here are 7 impo...

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Some are attempting to compare the current housing market to the market leading up to the "boom and bust" that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis.

However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes available for sale leading up to the 2008 crash.

A normal market should have approximately 6 months supply of housing inventory. As we can see, that number jumped to over 11 months supply leading up to the housing crisis. When questionable mortgage practices ceased, and demand d...

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