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Home Value | Andy Mandel's Blog

Thursday, December 26, 2019   /   by Andy Mandel

Cheers to a Happy and Healthy 2020

With 2019 drawing to a close, I want to wish you a happy and healthy 2020.


From our family to yours, we hope you have a very happy and, more importantly, healthy 2020. In 2019, we were able to help 68 families buy or sell a home, and our goal for 2020 is to boost that number all the way up to 100. If you know anyone who’s planning on buying or selling in the new year, send them our way. We’d love to be their resource. If you have any real estate resolutions for 2020 (refinancing, home improvements, etc.), I’d love to be a resource for you as well, so don’t hesitate to reach out to me. Thanks for your support, and have a happy New Year.

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  buyer, seller, buy, market update, home value, rent, renter, fsbo, expired

Tuesday, March 27, 2018   /   by Andy Mandel

Buyer Demand Still Outpacing the Supply of Homes for Sale

The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.
Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand
The map below was created after asking the question: “How would you rate buyer traffic in your area?”
The darker the blue, the stronger the demand for homes in that area. Only four states had a ‘stable’ demand level.

Seller Supply
The index also asked: “How would you rate seller traffic in your area?”
As you can see from the map below, 25 states reported ‘weak’ seller traffic, 21 states reported ‘stable’ seller traffic, 3 states and Washin ...

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  buyer, seller, home value, market update

Tuesday, March 13, 2018   /   by Andy Mandel

Home Prices: The Difference 5 Years Makes

The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.


One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.


Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,


“Homeowners in the United States experienced a run-up in prices from the early 2000s to 2006, and then saw the trend reverse with steady declines through 2011. After finally reaching bottom in 2011, home prices began a slow rise back to where we are now.


Greater demand and lower supply – as well as booming job ...

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  buy, buyer, seller, home value, rent, market update

Friday, November 17, 2017   /   by Andy Mandel

Your Friends Are Crazy Wrong If They're Telling You Not to Buy

The current narrative is that home prices have risen so much so that it is no longer a smart idea to purchase a home. Your family and friends might suggest that buying a home right now (whether a first-time home or a move-up home) makes absolutely no sense from an affordability standpoint. They are wrong!


Homes are more affordable right now than at almost any time in our country’s history except for the foreclosure years (2009-2015) when homes sold at major discounts. As an example, below is a graph from the latest Black Knight Mortgage Monitor showing the percentage of median income needed to buy a medium-priced home in the country today in comparison to prior to the housing bubble and bust.





As we can see, the percentage necessary is less now than in those time periods.


The Mortgage Monitor also explains that home affordability is better today than it was in the late 1990s in 47 of 50 states. ...

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  buy, seller, home value

The Mandel Team at Re/Max
Andy Mandell
9615 Westview Drive
Coral Springs, FL 33076
954-610-0563

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