Posts Tagged ‘2015’

March 12th, 2015 Housing Market No Comments »

WV Housing Market: Your Time is Now

WV Housing Market: Your Time is Now

west virginia real estate and wv housing market

Flowers push through the dirt, stripes of green blanket the ground and orange rays of warmth reach down.

This could only mean one thing: Spring is here.

With the season only days away, there’s a buzz in the air, not only from honey bees, but from real estate agents, bankers and construction crews. The days of snow and artic chill are over.

Now’s the time to buy. Now’s the time to sell.

Here’s why.

#1: A Faster Loan Process

If you’re looking to buy a home, one of the biggest challenges you’ll often face is the loan process at the bank or credit union. It’s no secret that financial institutions are requiring more paperwork and red tape before approving a mortgage loan.

Why not take advantage of that?

Homes continue to overwhelm Kanawha County. The Planning Commission received 127 more residential building permits last year than it did in 2013. Putnam County has already brought in nearly 20 residential building permits since January, and it’s been one of the coldest Winters to date!

If these trends continue, expect local mortgage loan officers to have their hands full during the heavy buying seasons of Spring and Summer.

Instead of waiting until the housing market floods with buyers and sellers, get a jump start on the demand, and reap the benefits of faster, smoother service from your loan officer.

While others are waiting on loan approval, you can already be picking out the furniture for your new home.

#2: Rates That Can’t be Beat

According to Bankrate, the average interest rate on a 30-year fixed mortgage loan sits at 3.6%. Remember, good news can only last so long. Market leaders expect rates to rise by at least 1 percent by the end of 2015.

So, take advantage of great rates while they still exist. If not, you could be sorry and so could your wallet.

#3: A Seller’s Platter

If you’re wishing to sell a home, now’s your time. Homes will flood the market within a month, according to banking professionals. This means more competition.

Plant some flowers, spread some mulch, open up the curtains and market the house now. Blast the home on social media, Craigslist, the local newspapers and more. Hold your open house before the Spring rush and enjoy the fruit of your labor.

Remember, it’s been a long, cold winter. Prospective buyers have been cooped up for the past 4 or 5 months and they’re itching to buy. One way to success is staying ahead of the competition. So, get your home on the market now and have it sold weeks before others even begin their first open house.

#4: Time’s Running Out

If you’re looking to upgrade your living conditions, do it now. Home prices are projected to appreciate by more than 23% from now to 2019, according to recent reports. This spells great news for investors, developers and home sellers.

However, this puts a crunch on homebuyers.

If you’re waiting for the perfect time to buy or sell a home, that time is now!

By: Charles Boggs, Jr. & Justin Waybright

 

February 18th, 2015 Housing Market No Comments »

The Perfect Storm

west virginia 2015 snow

This too Shall Pass

The last few days, we’ve all endured Alaskan-like winter weather, cold enough to break pipes, render all-wheel-drive vehicles useless and cancel school and work for many.

At Boggs & Associates, Inc., we try to stay optimistic.  We’re hoping Spring comes soon.

Not only will March, April and May bring with them warmer weather, grass and flowers, but these three months are predicted to shower us with a stronger-than-ever housing market.

During the past few weeks, we’ve uncovered various trends, results and data that backs up our West Virginia Real Estate theories.

Storms are Temporary

Yes, we realize we’re not out of the snow yet.  It is currently Wednesday morning and snow is blowing outside our office window, peppering the frozen roadways with a slippery blanket of white.  The sun is still hiding behind grey clouds.

Meteorologists predict sub-zero temperatures and more snow this week.

However, storms never last forever.

We believe the sun will soon kill the winter and light the path to a housing market revival unlike anything West Virginia has seen during the past decade.  Not to mention all the eager, cabin-fever-laden buyers and sellers just itching to jump into the housing market at the perfect time.

Always a Rainbow After the Storm

Realtors across West Virginia are preparing for a buyer/seller surge in the next few months.  Emphasis on strong marketing and heavy-hitting listings are becoming reality for many successful real estate companies.

To say we’re excited for Spring is an understatement.

Low mortgage rates, better employment rates, renewed homeownership pride and low gas prices are just a few ingredients making up a recipe for success.

The confidence remains “consistent with a modest, ongoing recovery,” said David Crowe, NAHB chief economist. “Solid job growth, affordable home prices and historically low mortgage rates should help unleash growing pent-up demand and keep the housing market moving forward in the year ahead.”

Overcoming the Storm

To effectively overcome any storm, one must know his adversary and how to prepare.  As real estate and banking professionals, our livelihood depends on this very fact.

The sun should soon shine its face on the real estate market.

Ask yourself:

  •  “What I am doing to prepare for and ensure victory?”
  • “Am I watching TV and drinking a hot chocolate or am I studying the market, anticipating the desires sellers and buyers will pursue?”
  • “Am I building an effective marketing strategy that caters to my potential Spring clients or am I just hoping the same old strategy brings them to me by fortunate coincidence?”
  • “If I work to supply for my family, is my work effective enough now to prepare for success in Spring?”

What you do now, will greatly impact the results you receive later.  Spring is coming, my friends.

Are you ready?

By Charles Boggs, Jr.
Owner, Boggs & Associates, Inc.

This themes includes code from Andreas Hassellöf, licensed under a Creative Commons Attribution v3.0 License