Wednesday, April 28, 2021

SOLD 5012 Huisache Street, Pharr, Texas 78504


 


🚨🚨🚨 SOLD 🚨🚨🚨 - 5012 Huisache Street, Pharr, Texas 78504 - Give Yoli B. Gonzalez a Call (956) 270-6206 ☎️ to sell your Property.

 

We Have McAllen Texas Homes for Sale , RGV Rio Grande Valley Real Estate Properties, Land, See our Listings for Residential  & Commercial Real Estate listings in McAllen, Edinburg, Sharyland, Mission, San Juan, Alamo, Weslaco, Pharr, & Hidalgo County, Texas

 

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Patience Is the Key to Buying a Home This Year



Patience Is the Key to Buying a Home This Year | MyKCM

The question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale.

Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. Danielle Hale, Chief Economist at realtor.com, explains:

The housing market is still relatively under supplied, and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February. Despite this week’s gain from a year ago, we’re 19 percent below the new seller activity that we saw in the same week in 2019.

While many homeowners paused their plans to sell during the height of the pandemic, this isn’t the main cause of today’s huge gap between supply and demand. Sam Khater, Vice President and Chief Economist at Freddie Mac, Economic Housing and Research Division, shares:

The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes . . . That decline has resulted in the decrease in supply of entry-level single-family homes or, ’starter homes.’”

When you consider the number of homes built in the U.S. by decade, the serious lack of new construction is clear (See graph below):Patience Is the Key to Buying a Home This Year | MyKCMThe number of newly built homes is disproportionately lower than the rate of household formation, which, according to the U.S. Census Bureau, has continued to increase. Khater also explains:

Even before the COVID-19 pandemic and current recession, the housing market was facing a substantial supply shortage and that deficit has grown. In 2018, we estimated that there was a housing supply shortage of approximately 2.5 million units, meaning that the U.S. economy was about 2.5 million units below what was needed to match long-term demand. Using the same methodology, we estimate that the housing shortage increased to 3.8 million units by the end of 2020. A continued increase in a housing shortage is extremely unusual; typically in a recession, housing demand declines and supply rises, causing inventory to rise above the long-term trend.”

To catch up to current demand, Freddie Mac estimates we need to build almost four million homes. The good news is builders are working hard to get us there. The U.S. Census Bureau also states:

Privately-owned housing units authorized by building permits in March were at a seasonally adjusted annual rate of 1,766,000. This is 2.7 percent (±1.7 percent) above the revised February rate of 1,720,000 . . . Privately-owned housing starts in March were at a seasonally adjusted annual rate of 1,739,000. This is 19.4 percent (±13.7 percent) above the revised February estimate of 1,457,000. . . .”

What does this mean? Lawrence Yun, Chief Economist at NAR, clarifies:

The March figure of 1.74 million housing starts is the highest in 14 years. Both single-family units and multifamily units ramped up. After 13 straight years of underproduction – the chief cause for today’s inventory shortage – this construction boom needs to last for at least three years to make up for the part shortfall. As trade-up buyers purchase newly constructed homes, their prior homes will show up in MLSs, and hence, more choices for consumers. Housing starts to housing completion could be 4 to 8 months, so be patient with the improvement to inventory. In the meantime, construction workers deserve cheers.

Bottom Line

If you’re planning to buy this year, the key to success will be patience, given today’s low inventory environment. Let’s connect today to talk more about what’s happening in our area.

Jinks Realty πŸ“·Photo for Today:



Jinks Realty πŸ“·Photo for Today:  

Colorful Bird at the Edinburg Scenic Wetlands & World Birding Center in Edinburg TexasπŸ“ - View Properties in McAllen Texas and the Rio Grande Valley of South Texas at: www.JinksRealty.com or Call ☎️(956) 429-3232

 
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Home For Sale 1764 Alta Mesa Boulevard, Brownsville, Texas 78526

πŸ›Œ 3 Bed
πŸ›€ 2.5 Bath
πŸš— 2 Car Garage 

Price $241,900

Home For Sale 1764 Alta Mesa Boulevard, Brownsville, Texas 78526 - This gorgeous 3 bedroom/2.5 bathroom is the ultimate family home. Enter and you’ll find a spacious open living area, large foyer and dining area, as well as a finely crafted kitchen, you can complete with modern appliances. Ideal for entertaining, you have your choice of two additional living areas, two located downstairs and the other located upstairs, accessible via a beautiful staircase. A variety of thoughtful details can be found throughout this home, including remote-controlled hurricane shutters for optimal safety and security. Also located downstairs is a spacious master bedroom complete with his and her closets, as well a master bathroom outfitted with a tub and shower combo. Outside, a roomy backyard means ample space for BBQs and other outdoor entertaining. And with nearby schools, shopping, and restaurants just a few minutes' drive, this home is a prime example of Brownsville living. Don’t miss your chance to live in this perfect family abode.  

 
More Information:
https://bit.ly/3twVlrY


 

Thursday, March 18, 2021

To Renovate or Not To Renovate Before You Sell


 When thinking about selling, homeowners often feel they need to get their house ready with some remodeling to make it more appealing to buyers. However, with so many buyers competing for available homes right now, renovations may not be as vital as they would be in a more normal market. Here are two things to keep in mind if you’re thinking of selling this season.


1. There aren’t enough homes for sale right now.


In a competitive market that’s moving so quickly, it makes sense to sell your house when buyers are scooping homes up as fast as they’re being listed. Today, many buyers are more willing to take on home improvement projects themselves in order to get the home they’re after, even if it means putting in a little extra work. Instead of over-investing in your home with upgrades the buyers may change anyway, work with a real estate professional to determine the key projects that will maximize your listing, without overdoing it.


2. Focus on getting a good return on your investment.


When planning any bigger projects to tackle, you and your real estate agent will want to discuss the potential return on your investment and if those projects are worth the cost. Ideally, homeowners getting ready to move should try to avoid over-investing on big renovations if they won’t make that money back when they sell their house.


Before you renovate, Call me (956) 429-3232 to see if it’s the best course of action. You may find out that putting your house on the market as-is will help you sell quickly, and it may result in the best return on your investment.



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