What are some potential reasons why a home buyer may later regret their purchase? In this article I discuss some things to think about that may help avoid home buyer remorse.
Category: Market Activity
How Depreciation Works
What is the primary reason a newly built home has a higher market value than the same home that is older? In a word, depreciation. What is depreciation? Simply stated, it is loss in value. There are three basic causes of depreciation for homes. Physical, functional, and external obsolescence. What do they indicate and how… Continue reading How Depreciation Works
Who Needs Appraiser’s When One Has Cash?
Who needs an appraiser when one has cash? That's a question a good friend asked me after telling me that a home on the same street from them sold, in hours, for a much higher price than many other generally similar homes are selling for in the neighborhood. The buyers paid cash. I must admit,… Continue reading Who Needs Appraiser’s When One Has Cash?
The Complete Guide to Virtual House Hunting During COVID-19
Hello everyone! I am honored to welcome back Author Jessica Brody, with a new and timely article that I think you will find helpful if you're looking to buy a home. Enjoy! The Complete Guide to Virtual House Hunting During COVID-19 Whether you were already diving into the home buying process when COVID-19 hit the… Continue reading The Complete Guide to Virtual House Hunting During COVID-19
The Housing Market Has Become Like the Pymatuning Spillway
If you ever get the chance to visit Pymatuning Lake in PA, which is on the boarder of Ohio and Pennsylvania, make sure to go over to the Linesville Spillway. It is an amazing site. Hundreds of Carp congregate in the spillway, battling for food. Throw a little bread in, and it's a feeding frenzy!… Continue reading The Housing Market Has Become Like the Pymatuning Spillway
The Snowy Tree Crickets of Real Estate
What’s the weather like in your area? Are temperatures cooling or warming? Just stepping outside, it’s usually easy to feel the changes. As temperatures change, so do the behaviors of animals. Take for example, the Snowy Tree Cricket. It's an amazing little creature. As temperatures change, so do the sounds of their chirps. Check out… Continue reading The Snowy Tree Crickets of Real Estate
Closing The Gap Between Yesterday’s Prices & Today’s Values
Real estate professionals have had a very busy year. Homes are selling, often within days, with multiple bids. This is largely due to an extended period of a shortage of home listings. This shortage has driven home prices up across the country. You can see this happening in my graph below, which reflects the relationship… Continue reading Closing The Gap Between Yesterday’s Prices & Today’s Values