Home Prices | Jessica Harless Next Home Realty Center

Your Agent Is Key When Pricing Your House

Your Agent Is Key When Pricing Your House [INFOGRAPHIC] | MyKCM

Some Highlights

  • Pricing your house right takes market experience and expertise.
  • To find the best list price, your agent balances current market demand, values of homes in your neighborhood, where prices are headed, and your home’s condition.
  • If you’re ready to sell, don’t guess the price. Let’s connect today so we price your house to attract multiple offers and maximize your return on investment.
Homes Sold By Jessica Harless | NextHome Realty Center

What Does Being in a Sellers’ Market Mean?

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

 

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):What Does Being in a Sellers’ Market Mean? | Simplifying The MarketWhen the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer. As this happens, home prices rise, and sellers are in the best position to negotiate deals that meet their ideal terms.

Right now, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and the ongoing rise in remote work have prompted buyers to think differently about where they live – and they’re taking action. If you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.

Bottom Line

Today’s ultimate sellers’ market holds great opportunities for homeowners ready to make a move. Listing your house now will maximize your exposure to serious buyers who will actively compete against each other to purchase it. Let’s connect to discuss how to jumpstart the selling process.

courtesy of Keeping Current Matters

Sold by Jessica Harless | Appraisals

What To Expect as Appraisal Gaps Grow

In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogicelaborates:

 

“The frequency of buyers being willing to pay more than the market data supports is increasing.”

While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm.

According to recent data from CoreLogic19% of homes had their appraised value come in below the contract price in April of this year. That’s more than double the percentage in each of the two previous Aprils.

The chart below uses the latest insights from NAR’s Realtors Confidence Index to showcase how often an issue with an appraisal slowed or stalled the momentum of a house sale in May of this year compared to May of last year.What To Expect as Appraisal Gaps Grow | Simplifying the MarketIf an appraisal comes in below the contract price, the buyer’s lender won’t loan them more than the house’s appraised value. That means there’s going to be a gap between the amount of loan the buyer can secure and the contract price on the house.

In this situation, both the buyer and seller have a vested interest in making sure the sale moves forward with little to no delay. The seller will want to make sure the deal closes, and the buyer won’t want to risk losing the home. That’s why it’s common for sellers to ask the buyer to make up the difference themselves in today’s competitive market.

Bottom Line

Whether you’re buying or selling, let’s connect so you have an ally throughout the process to help you navigate the unexpected, including appraisal gaps.

Courtesy of Keeping Current Matters
Houston area firework Displays

Fourth of July Firework Displays In & Around Houston

I am reposting from https://mommypoppins.com/

Red, Hot, & Blue Festival and Fireworks Extravaganza – July 3 & 4 – The Woodlands

This 4th of July celebration boasts a weekend of activities throughout The Woodlands that kick off with a parade on Saturday, July 3 and strolling entertainment, live music, concessions and more on Sunday, July 4. Sunday evening concludes with fireworks.

2021 Baytown July 4th Celebration – July 3 & 4 – Baytown

Come out for two days of 4th of July fun in the city of Baytown. Saturday kicks off the festivities with an evening of live music. Sunday enjoy an Independence Day parade, more live music, a 4th of July ceremony, and a fireworks extravaganza.

Shell’s Freedom over Texas Live Broadcast – July 4 – Downtown Houston

Freedom Over Texas is presenting a modified July 4th celebration with performances by Jimmie Allen, the Houston Symphony, headliner Lee Brice, and other musical guests. The big finale includes a fireworks show by Reliant.

Tomball’s July 4th Celebration & Street Fest –July 4 – Tomball

Celebrate America’s independence at Tomball’s annual July 4th Celebration with an evening of fireworks, food, music, and more.

City of Nassau Bay 4th of July Celebration – July 4 – Clear Lake

Get ready to get wet, because a water war is the opening event of this 4th of July celebration! Other activities include a celebration in the park, a Veterans parade, and fireworks to wrap up the night.

Rosenberg’s Family 4th Celebration – July 4 – Rosenberg

Spend the evening celebrating your patriotism at the Family 4th Celebration in Rosenberg. The evening has live music, local food vendors, a kids’ zone, horse-drawn wagon rides through the Nature Park, and fireworks show to conclude the night.

Katy Freedom Celebration Fireworks – July 4 – Katy

The 4th of July fireworks display at Katy Mills Mall/Typhoon Texas is going forward this year! Note that the daytime Freedom Celebration at Katy Heritage Park will not take place in 2021 due to ongoing projects.

2021 Fulshear Freedom Fest – July 4 – Fulshear

Come out to the 2021 Fulshear Freedom Fest for an evening of live music from The SPAZMATICS, local food trucks, vendor booths, and a spectacular Independence Day fireworks show.

July 4 Fireworks + Concert at Kings Harbor – July 4 – Kingwood

Celebrate our country’s birthday with a live concert by Shotgun Road Band at 7 pm and, weather permitting, fireworks display off the pier at 9:30 pm.

Galveston Independence Day Fireworks & Parade – July 4 – Galveston

Galveston Island is celebrating Independence Day with its annual parade of floats, military vehicles, and performers, followed by a spectacular fireworks display over the gulf to conclude the evening.

Independence Day Fireworks Spectacular – July 4 – Memorial

Celebrate the 4th of July at CityCentre with an Independence Day bash featuring live music from Hybrid 7 and  15-minute fireworks spectacular.

Fourth of July Celebration at Kemah Boardwalk – July 4 – Kemah

Come enjoy a patriotic fireworks show over Galveston Bay and live music and entertainment on the Boardwalk to celebrate the 4th of July.

Celebration of Freedom in Pearland – July 4 – Pearland

Celebrate Independence Day with an evening of strolling entertainment, live music, food trucks, vendors, a Presentation of Colors, giveaways, and fireworks.

Deer Park 4th Fest – July 4 – Deer Park

Celebrate the 4th of July with an evening of outdoor attractions and games, live music, and an amazing fireworks display to cap off the night.

Pasadena’s Fireworks at the Fairgrounds – July 4 – Pasadena

Enjoy an evening of delicious food and amazing fireworks at Pasadena’s Fireworks at the Fairgrounds event.

Kingwood’s Annual July 4th Festival – July 4 – Kingwood

Join your neighbors, friends, and family for a 4th of July festival full of live music from several different local musicians and bands and lots of fireworks!

Friendswood’s 126th Annual July 4th Celebration – July 4 & 5 – Friendswood

Celebrate the 4th of July with activities on both Sunday AND Monday. On Sunday head to Centennial Park for food, live music, and a fireworks show. On Monday enjoy a parade, vendors, entertainment, and more at Stevenson Park.

 

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Don’t Forget to Budget for Closing Costs

 When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important.

 What Are Closing Costs?

According to Trulia:

When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”

For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned above, closing costs are typically between 2% and 5% of your purchase price. 

Trulia gives more great advice, explaining:

“There will be lots of paperwork in front of you on closing day, and not enough time to read them all. Work closely with your real estate agent, lender, and attorney, if you have one, to get all the documents you need ahead of time.

The most important thing to read is the closing disclosure, which shows your loan terms, final closing costs, and any outstanding fees. You’ll get this form about three days before closing since, once you (the borrower) sign it, there’s a three-day waiting period before you can sign the mortgage loan docs. If you have any questions about the numbers or what any of the mortgage terms mean, this is the time to ask—your real estate agent is a great resource for getting you all the answers you need.”

Bottom Line

As home prices are rising and more buyers are finding themselves competing in bidding wars, it’s more important than ever to make sure your plan includes budgeting for closing costs. Let’s connect to be sure you have everything you need to land your dream home.

Keeping Current Matters: Buying MythsDown PaymentsFirst Time Home BuyersFor BuyersMove-Up BuyersPricing

Jessica Harless | NextHome President's Circle Award

Press Release: Jessica Harless Named A President’s Circle Award Winner

March 16, 2021

NextHome recognizes Jessica Harless for her sales achievements in 2020

Pleasanton, CA — 3/16/2021 — NextHome is proud to congratulate Jessica Harless NextHome Realty Center in Cypress TX, on her achievement in receiving the President’s Circle Award. Her hard work in 2020, having sold 31 units and over $12.5M in volume, has been recognized by the NextHome franchise with this award.

The NextHome franchise, established in 2014, has experienced tremendous growth due to its consumer-focused branding, technology, and marketing. The franchise currently has 480+ offices across the country with over 4,400 members, in 48 states. Recently, the brand has been recognized as the No. 1 Franchise in the country for customer satisfaction by Franchise Business Review, ranked No. 79 on Entrepreneur magazine’s Franchise 500® list, and No. 3344 on Inc. magazine’s Inc. 5000 list of the fastest-growing private companies, along with many other accolades.

The NextHome franchise wouldn’t be where it is today without the “NextHomies” behind the brand. The “Humans Over Houses” slogan coined by NextHome has turned into a philosophy adopted by NextHomies as the meaning behind why they do what they do, and why they do it so well.

Recognizing hard work and dedication runs deep within the NextHome franchise through their annual Awards Program. The franchise is proud to recognize nearly 600 NextHomies for their impressive track record of sales achievements in 2020.

“Every year, I have the great privilege of congratulating each award winner on their impeccable performance from the previous year. And while this year it is through a video instead of on the main stage during our annual conference, sharing these recognitions is even more rewarding,” said James Dwiggins, Chief Executive Officer of NextHome, Inc. “Our NextHomies have gone through so many challenges last year due to the pandemic and tight inventory, but their underlying goal has never shifted, never faltered, they’ve continued to help families find their next home. Thank you for continuing to make a difference in the real estate industry, and in the lives of your communities.”

“NextHomies have always been much more than a real estate professional in their local communities. When your profession is to help others, that passion doesn’t stop at the end of a deal,” said Imran Poladi, Vice President of NextHome, Inc. “This past year, when each and every one of our communities experienced hurt and fear, our members stepped up to be a resource for their people. I’m overwhelmed, with hopefulness, that during a time of such negative circumstances, people were still able to reach the American Dream of homeownership thanks to hard-working, and caring, NextHome real estate professionals.”
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About NextHome, Inc.
NextHome, Inc. is an independently owned national franchisor with a focus on changing the way consumers work with local agents and shop for real estate online. The NextHome franchise has 480+ offices and 4,400+ members across 48 states. The company closes over 29,000 transactions annually worth over $8.2B in volume.

The names of actual companies and products mentioned herein may be the trademarks of their respective owners. Each office is an independently owned and operated business. 

NextHome #1 in Satisfaction

NextHome Named #1 in Satisfaction by FBR

Hello everyone,

It brings us great joy, and even more humility, to announce that NextHome has been ranked the number one franchise in the country in owner satisfaction by Franchise Business Review (FBR) for 2021!

Over 300 franchise brands participated in FBR’s research in 2020. More than 28,000 franchise owners shared their feedback on 33 benchmark questions about their experience and satisfaction with their franchise system. The independent survey covered areas such as training and support, operations, franchisor/franchisee relations, and financial opportunity.

Only seven years after its inception, our company has climbed to the very top of this list, landing the No. 1 position across all categories. This follows our No. 1 ranking in the real estate category and No. 3 overall for 2019 as announced last year.

Our entire corporate team would like to extend a heartfelt THANK YOU to all of you, our amazing NextHomies across the country. Without your support, we would not have the pleasure of achieving this incredible milestone together.

Thank you again and congratulations to each and every one of you!

To read more about FBR and this recognition, please click HERE.

Regards,

 

James Dwiggins
Chief Executive Officer | NextHome, Inc.
facebook.com/dwigginsj | linkedin.com/in/dwigginsj

Like our NextHome Facebook Page!

Sellers Market (2)

Buying In A Sellers Market

Winning Strategies for Buyers in a Sellers’ Market

  • Expect the Sellers’ Market to continue for at least the first months of 2021
  • Buying a home in today’s sellers’ market doesn’t have to feel like an uphill battle.
  • Here are four ways to make sure you’re positioned for success when making a home purchase, even when the scale tips toward sellers.
  • Let’s connect to make sure you’re armed for victory in the housing market this season.

Homes Sold By Jessica Harless | NextHome Realty Center

Infographic Courtesy of Keeping Current Matters
Homes Sold By Jessica Harless | NextHome Realty Center

Will Home Values Appreciate or Depreciate in 2020?

With the housing market staggered to some degree by the health crisis the country is currently facing, some potential purchasers are questioning whether home values will be impacted. The price of any item is determined by supply as well as the market’s demand for that item.

Each month the National Association of Realtors (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for the REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand) during this pandemic.

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”Will Home Values Appreciate or Depreciate in 2020? | MyKCMThe darker the blue, the stronger the demand for homes is in that area. The survey shows that in 34 of the 50 U.S. states, buyer demand is now ‘strong’ and 16 of the 50 states have a ‘stable’ demand.

Seller Supply

The index also asks: “How would you rate seller traffic in your area?”Will Home Values Appreciate or Depreciate in 2020? | MyKCMAs the map above indicates, 46 states and Washington, D.C. reported ‘weak’ seller traffic, 3 states reported ‘stable’ seller traffic, and 1 state reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the needs of buyers looking for homes right now.

With demand still stronger than supply, home values should not depreciate.

What are the experts saying?

Here are the thoughts of three industry experts on the subject:

Ivy Zelman:

“We note that inventory as a percent of households sits at the lowest level ever, something we believe will limit the overall degree of home price pressure through the year.”

Mark Fleming, Chief Economist, First American:

“Housing supply remains at historically low levels, so house price growth is likely to slow, but it’s not likely to go negative.”

Freddie Mac:

“Two forces prevent a collapse in house prices. First, as we indicated in our earlier research report, U.S. housing markets face a large supply deficit. Second, population growth and pent up household formations provide a tailwind to housing demand.”

Bottom Line

Looking at these maps and listening to the experts, it seems that prices will remain stable throughout 2020. If you’re thinking about listing your home, let’s connect to discuss how you can capitalize on the somewhat surprising demand in the market now.