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What Is Your Home's Value?

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Do you know how much your home is worth?  If it’s been over a year since you’ve determined your home’s value, you may be in for pleasant surprise.  The latest edition of CoreLogic’s Home Price Index shows that nationally, home prices have appreciated 6.7% over the last year and 0.9% month-over-month. In general, there’s a higher demand for homes.  That means home prices have increased.

The latest Equity Report by CoreLogic shows that nearly 79% of homeowners with a mortgage in the US now have significant equity in their homes.  But not every homeowner knows how much the value of their home has appreciated.

The question then is, do you know how much your home is worth? We can help you with a free home valuation.  Click this link to start the process now!

Millennial Homeowners - Is It Time to Sell?

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Despite what many people believe, Millennials are not a generation of renters. 34% of homes in the US were purchased by Millennials last year, and the most recent census report shows that the homeownership rate among Millennials is rising. In 2010 when housing prices crashed, many Millennials took advantage of the situation and purchased homes. If you're one of these people, now might be the time for selling your home for several reasons.

1. Equity Buildup

Home prices have been rising since the beginning of 2012, and your house may have appreciated by more than you think. According to ATTOM Data Solutions:

“…homeowners who sold in the second quarter realized an average price gain of $51,000 since purchase — the highest average price gain for home sellers since Q2 2007, when it was $57,000.

The average home seller price gain of $51,000 in Q2 2017 represented an average return of 26 percent on the previous purchase price of the home, the highest average home seller return since Q3 2007, when it was 27 percent.”

2. Projected Home Price Increases

If you've just gotten married or found that you're about to become a parent, you may have plans to move out of your house into a bigger home and maybe into a different area. If you wait to buy a more expensive home in this market, that probably wouldn't make sense. The home price expectations survey projected that home prices will increase by nearly 5% over the next year. So your house is price will increase, but not as much as homes currently valued higher than yours.

So if you're lucky enough to be one of those Millennials who bought a home in 2010 or even, later now might be the perfect time to move up to the home of your dreams

 

Sell Your Home Faster!

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Ready to sell your home in O'Fallon or the surrounding communities? The time that people will really be the most interested in your home is when it hits the market, so you need to be ready. You need to make sure that your home is as ready to present to the public as you can. Here are some methods are sure to help you sell faster and be better prepared for when your home hits the O'Fallon real estate market.

Get Storage

De-cluttering your home is essential. But you can't just shove everything in the closets or storage room, or the shed or garage for that matter. Get all unneeded items off the property and into storage. This serves tow purposes - making the home look cleaner, and also easier for you to move into your new home since you're already packed. Also make sure to store personal photos and items as these can distract potential buyers from the seeing the home as their own home.

Professional Staging and Photography

The first representation of your home that most people will see is on the internet. That means photos. And of course the photos will need to be of a well-presented home. The comfort and ease of shopping for a home on the internet means that your home needs to stand out.  And if you don;t have money for professional staging, then do your best and have a friend or your agent give you honest insight on how your property looks from a buyer's perspective.

Lighten Up

The darker the home, the more depressing it will seem.  Make it brighter by using artificial and natural lighting.  Buy higher wattage bulbs if needed and replace burned out bulbs. Open the windows.  You can even paint the rooms more neutral colors, like a neutral gray.

There are certainly more things you can do to get your home ready to sell. Please feel to ask us for more advise on how you can sell you home more quickly and get more from the sale.

Displaying blog entries 1-3 of 3

Contact Information

Photo of The Ellerbrake Group Real Estate
The Ellerbrake Group
RE/MAX Preferred
1668 Windham Way
O'Fallon IL 62269
Office: (618) 632-0001
Direct: (618) 791-8773
Fax: (984) 222-6820