Dakno Content Blog

Tag: US home sales

  • 10 Winter Home Improvements That Are Worth The Investment

    ChecklistWe hope everyone had a memorable Thanksgiving Day last week and enjoyed the long holiday weekend.

    With December officially upon us, residents can expect temperatures to continue to dip as we head into the New Year.

    So today, we wanted to share with you some relatively easy home improvements that you can make that will save you money during the winter months.

    Home Tips for Saving Yourself Money This Winter

    Here are 10 home improvements that you can make this winter that will save you both money and energy:

    Caulk around windows and doors, making sure that all cracks and holes are sealed. This will keep the cold air out of your house, which will keep your heater from working overtime. If necessary, you might also consider adding or replacing weather stripping.

    Add area rugs to your tile and wood floors. This creates an extra layer of insulation in your home and also makes it easier to walk around your home in bare feet during the winter time.

    Install glass doors that close off your fireplace. This will not only keep cold air from coming down and through your house but it will also prevent warm air from escaping through the chimney. Also, if you use your fireplace, make sure to close the flue when you’re finished.

    Insulate your attic door. For instance, you can buy covers for your attic staircases or openings. This will actually help you reduce energy costs all year long.

    Cover your windows. Even if you don’t have storm windows, you can create your own with a window insulation kit. And inside your house, consider using insulated drapes.

    Buy Insulated Garage Doors and Exterior Doors. Typically, the garage doors that come with most homes aren’t insulated. You can change that to save on energy costs.

    Add insulation to your home throughout. This includes in the attic as well as the crawl space, garage and basement. Experts recommend that you add insulation if you haven’t done so in more than 20 years.

    Reverse Ceiling fans. Some people may not be aware of this but you actually have the option of reversing your ceiling fans. Running them counterclockwise makes it cooler during the summer months but by making them clockwise, they will circulate warm air back into the room.

    Replace your furnace filters. Just like with anything else, dirty furnace filters will make it work less efficiently. Generally speaking, filters should be changed every month during the heating season.

    Replace your outdated furnace altogether. If your furnace is older, you might consider purchasing a newer unit that is going to produce more heat with less energy. Just make sure that you get the right size for the space you have.

    If you want to take your home-savings even further this winter, you can check out the U.S. Department of Energy’s do-it-yourself energy audit on their website. Or you can call a contractor and request a professional audit.

    Offering You National Home Advice You Won’t Find Anywhere Else

    We hope you found this information helpful as a current home owner.

    Please be sure to check back soon as we continue to provide you with useful and relevant real estate information!

  • US Home Sales Rose In September, Report Shows

    US Home Selling 7U.S. homes sold at a faster rate in September than any other time this year, a recent report from the National Association of Realtors said.

    Evidently, sales of existing homes increased 2.4 percent from the previous month to a seasonally adjusted annual rate of 5.17 million.

    Experts are saying that this increase is a great sign that the housing market is picking up and moving past the slowdown that started in mid-2013.

    More Encouraging Signs on the National Housing Market

    The National Association of Realtors provided some additional information that helps paint a more complete picture of the current state of the housing market:

    • The sales rate has dropped 1.7 percent over the past 12 months.
    • First-time home buyers comprised about 29 percent of all sales. This is below the historic average of roughly 40 percent.
    • Median home prices increased 5.6 percent over the last 12 months to $209,700.
    • September sales increased in the South and West compared to the previous month.
    • Meanwhile, sales increased slightly in the Northeast and dropped in the Midwest.
    • Nationally, the share of purchases by investors decreased from 19 to 14 percent year-over-year.
    • The report projects that 4.94 million existing homes will be sold this year, down 3 percent from 5.09 million in 2013.
    • Generally speaking, real estate experts say 5.5 million existing home sales is a healthy market.
    • Meanwhile, housing starts increased 6.3 percent to a seasonally adjusted annual rate of 1.017 million homes, although much of that was new apartment buildings.
    • Apartment construction has jumped 30.3 percent over the past 12 months, almost three times the rate of growth for single-family houses.

    Many Forces Are at Work to Create These Conditions, Analysts Said.

    For instance, over the last year, fewer investors have entered the market. Luckily, their pullback has been offset by existing homeowners who are moving up to more expensive properties or downsizing as empty nesters.

    Meanwhile, some would-be buyers have been kept out of the market because of rising prices through much of 2013, weak income growth and tighter credit standards.

    Experts are now predicting that the worst of the housing market recession is over but that the economy and housing market will likely grow in fits and starts.

    One development that might help with this growth is the fact that the federal regulator overseeing Fannie Mae and Freddie Mac is considering creating an option for lower down payments so more people can qualify for a mortgage.

    And because the average 30-year fixed rate mortgage dropped below 4 percent recently, experts are expecting more buyers to enter the market.

    In Fact, Many Signs Suggest Now Is a Great Time to Be A Buyer

    For instance, online real estate brokerage Redfin said that only 44 percent of its offers in October faced bidding wars. This is down form a high of 75 percent in March 2013.

    Meanwhile, more homes are expected to become available on the market thanks to many investors’ plans to sell for tax reasons at the end of the year.

    So if you’ve been sitting on the fence about whether to invest in property, now is a great time to do so!

    Your #1 Real Estate Resource

    We believe that knowledge is power and so we work hard to provide you with the most accurate and up-to-date information on the national housing market. Hopefully you found today’s report helpful!

    Check back here soon for more valuable insight on the recent trends on the national housing market and how they may impact your efforts as a buyer or seller!

  • US Home Sales Outperform Real Estate Experts’ Previous Predictions

    US Home Selling 2It’s always a good sign on the national housing market when sales activity is better than even the experts predicted!

    And that’s exactly what happened recently when the latest market activity report was released by the National Association of Realtors in July.

    Evidently, contracts to purchase previously-owned properties increased more than expected during the month of July, signaling that there truly is renewed momentum on the national housing market.

    Let’s Take a Closer Look at The Numbers

    According to a report from the National Association of Realtors, the pending home sales index increased 3.3 percent after a 1.3 percent decrease during the month of June.

    That increase is much higher than previously expected. In fact, the median projection according to a Bloomberg survey of economists called for the index to increase about 0.5 percent. Specifically, estimates from 37 economists ranged from a decrease of 0.5 percent to an increase of 3 percent.

    So why did the number of home sales do significantly better than previously predicted?

    Experts credit the increase to a lot of factors, including:

    • Increased hiring
    • Rising property values
    • Historically low interest rates

    Not only are these factors increasing home sales but they’re also encouraging builders to break more ground.

    Other factors encouraging a more robust housing market include a gross domestic product that grew at a 4.2 percent pace during the second quarter as well as the fact that unemployment claims decreased to 298,000 last week.

    Experts add that faster wage growth as well as easier access to credit would also help boost the local economy

    More Housing Market Data That Will Help Provide Context

    Still, not all of the news from the national housing market has been completely positive.

    Here are some other highlights of the National Association of Realtors’ latest report:

    • Purchase contracts decreased 2.7 percent in the 12 months ending in July, which followed a 4.7 percent year-over-year decline in June.
    • July marked the 10th month of year-over-year declines
    • The pending sales index was 105.9 on a seasonally-adjusted basis.
    • Pending sales increased in three of four regions. Specifically, sales were up 6.2 percent in the Northeast, 4.2 percent in the South and 4 percent in the West. Purchase contracts decreased 0.4 percent in the Midwest.
    • Resales increased to a 5.15 million pace, which is the best they’ve been since September.
    • Construction also rebounded, with starts climbing 15.7 percent to a 1.09 million annualized rate
    • Meanwhile, contracts on new homes dropped unexpectedly during the month of July to a 412,000 annualized pace, which is the weakest it’s been since March.
    • The average rate for a 30-year, fixed mortgage was 4.10 percent in late August, down from 4.53 percent at the start of the year

    Let’s Start Discussing Your Personal Real Estate Dream!s

    Are you interested in listing your property soon and getting a great price for it? Or perhaps you want to find the home of your dreams but just don’t know where to start.

    Regardless of what your real estate needs are, we’re here to help!

    And please make sure to check back here next month as we continue to provide you with valuable information that will help you navigate the local housing market!