Forget earlier this year when we saw new home sales actually drop. New home sales for March went up… a lot, up more than 20% in March compared to February, according to data provided by HUD. In fact it wasn’t just a monthly increase but March saw the strongest new home sales in over 14 years! Not since September 2006 have new home sales been at a faster clip.

A combination of low interest rates and high demand look to fuel new home growth for the foreseeable future. The biggest obstacle to new home construction now is a surge in lumber prices which is adding on over $35,000 to the cost of average new single family home according to the National Association of Home Builders.

Overall new home sales growth is up in most of the nation lead by the Midwest and South are up over 50%.

The housing market has extremely tight inventory and as a result there are often multiple bids on a home. If you find yourself competing with multiple bidders, here are some tips to come out on top and win a bidding war.
Preapproval Letter
Have a preapproval letter. A preapproval letter shows you are serious and there won’t be trouble getting a mortgage. Without this other bidders will be in a much stronger position.
Make A Higher Offer
Before doing this, make sure you stay within your budget, but a higher offer is (as common sense dictates) often a key to a winning bid. Your real estate agent can be helpful here to get an idea of how many bids are coming in as well as current market prices in the area.
Escalate
A really good strategy is to add an escalation clause. This helps you avoid overbidding, you can say you will outbid competing offers by a certain amount (for example $5,000) up to a set maximum price.
Write A Letter
A personal letter to the seller about why you love the property and perhaps why you can’t bid higher can be effective. If you explain what you love about the property and give some background on why you can’t bid higher it can leave a great impression and of course it doesn’t cost you anything to write a letter!
Backup Offer
If your bid does not get accepted, then its normally time to keep looking, however you can try to make a backup offer if there is a kick-out clause and have your realtor stay in touch to see if there are issues with the accepted buyers offer.

Market Watch – Rates Drop – Housing Red Hot
This week we’ve seen rates drop below 3 percent for the first time in months. Freddie Mac reported the average for 30-year-rate-mortgage was 2.97%. This is the first drop below 3% in months and makes refinancing more attractive. The 15 year rate was nearly 2 and a quarter with Freddie reporting the 15-year fixed-rate average was 2.29%

The housing marketing remains scorching hot. Cities are seeing increased activity now as well. Inventories are at extremely low levels which is pushing prices higher as more buyers are entering the market. With inventory so tight and many buyers entering the market, we recommend you consult use for a free qualification to see how much you home you can finance and get a pre-qualification letter to help you get a hand up in the buying process.

A lot of folks want to invest in real estate as a way to build wealth. Here are some basic starting points if this is something you’ve been thinking about.
There are two main models that people use when investing in residential real estate – fix and flip or using it as a rental property.
Regardless of which one you want to focus on, the old adage of location, location, location still holds.
A property in need of TLC in a good neighborhood or an area that is up and coming are great strategies.
Build a network and actively research – it’s a good idea to be in touch with a few realtors who can alert you of new listings that are coming to market.
You’ll also want to have a clear idea of your goals, budget and commitment. If you’re fixing and flipping – who is going to do the fixing, if its you, how much time do you have to focus on it.
If you’re renting you’ll want to know the market rents and have clear renting guidelines – the old 1% rule is not used as much anymore as it doesn’t apply to many or most markets but with low interest rates you can try something like 0.8% rule.
Whatever your plan, you’ll definitely want to get per-qualified first. Give us a call and see what you can qualify for and we’ll help get you that pre-qual letter!

Curb appeal is real, it matters, and it’s one of the easiest, lowest cost ways to increase the value and sellability of your home. All those expressions about making a first impression fit houses too! So here are a few tips for boosting curb appeal that can be done in a weekend on a budget.
Make an Entrance
Your entrance and front door should be inviting. You can repaint, restain or maybe replace the front door. Also plants and flowers can really help, often two pieces on either side of an entryway will help frame the entrance.
Lighting
Having some lights to frame the house in the evening can really make it pop, so check your garage and porch lights and consider investing in some new ones, there are good solar ones now that go on automatically at night and don’t require wiring.
Numbers Numbers Numbers
If your house numbers are old and hard to read, consider getting some new ones and we advise making them easy to read.
Return the old Mailbox to sender
If your mailbox is old and weathered, a new one can really help.
These are all low cost little steps that make a huge difference!