5 Reasons Why To Sell Your Home This Spring!

 

Sell Your Home This Spring

Here are five reasons the KCM Crew says listing your home for sale this spring makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enoughhomes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 45 days.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!

Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on With Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Getting A Tax Refund? Bring it Home

Tax Refund

This time of year, many people eagerly check their mailboxes looking for their tax return check from the IRS. But, what do most people plan to do with the money? GO Banking Rates recently surveyed Americans and asked the question – “What do you plan on doing with your tax refund?”

The results of the survey were interesting. Here is what they plan to do with their money:

41% – Put it into savings
38% – Pay off debt
11% – Go on a vacation
5% – Make a major purchase (car, home, etc.)
5% – Splurge on a purchase

Upon seeing the research, The National Association of Realtors (NAR) wondered if this could help with a constant challenge cited by many people who wish to purchase a home – saving for the down payment.

In a recent post in NAR’s Economists’ Outlook Blog, they explained:

“With a sizable tax refund, the average American would have a decent down payment depending on which region or market you live in.”

They went on to add:

“Approximately 5 percent of all respondents indicated they would make a major purchase which does not seem like a lot. However, there is a bigger group 41 percent who see saving the tax return is best and that group could be potential homebuyers if they are not already.”

In other words, putting that money toward purchasing a home is a form of savings.

Bottom Line:

When one considers that first-time home buyers in 2016 had an average down payment of 6%, a decent tax return could go a long way toward the necessary funds needed for a down payment on a house. Or perhaps, the down payment needed by a son or daughter to make their homeownership dream a reality. How are you going to spend your return?

via The KCM Crew… Keeping Current Matters

FAA Loosening Up On Drones

FAA, Drones & Real Estate

Those shooting stars could be drones capturing photos, video, or even delivering packages…

Key Takeaways via Britt Chester with Inman:

  1. The FAA no longer requires Section 333 waivers for drones weighing less than 55 lbs.
  2. Flight in the airspace classified G does not require clearance from local air traffic control.
  3. Drone pilot must be at least 16 years old and pass an initial aeronautical knowledge test at an FAA-approved knowledge testing center.

Not sure whether, where and how you can use drones for real estate photography?

Some gray area of unmanned aerial vehicle (UAV) regulation has been cleared up thanks to Part 107 of the Federal Aviation Regulations.

The Federal Aviation Administration (FAA) announced today that it will no longer require a Section 333 waiver — making it much easier for real estate agents to legally fly drones.

The Section 333 waiver was a bottleneck of commercial applications on the FAA website, many of which were targeted toward real estate professionals and production companies working with real estate agents. (The online portal for Section 333 waivers has been shut down on the FAA website.)

Drone photography and video footage has been a game changer in real estate. And the affordability of pro-sumer drones has many people scrambling to get one, especially now.

The new rules take effect August 2016

The last time the FAA issued new regulation on UAVs was in December, although the rules took effect this past March. Many of the same rules still apply, although the biggest one is regarding the non-requirement of a section 333 waiver.

To operate your drone, you must obtain a remote pilot airman certificate with a small UAS rating. There are two ways to do this.

  1. You may pass an initial aeronautical knowledge test at an FAA-approved knowledge testing center.
  2. If you already have a Part 61 pilot certificate, other than a student pilot certificate, you must have completed a flight review in the previous 24 months, and you must take a small UAS online training course provided by the FAA.

Drones and the NAR

The first line in Part 107 (after the rule determining 55 lbs. weight max) relates to the visual line of sight (VLOS): The remote pilot in command and drone operator must maintain VLOS. It is required to have a “spotter,” and this rule states that the two people in control of the drone must be able to see it.

Late last year, NAR wrote a letter to Michael Huerta, FAA administrator, requesting a change in the VLOS at it relates to “unusually sized buildings and rural properties.

A source with NAR said that ever since the FAA called out Realtors directly in 2014 regarding drone use, the association has been actively working out how it can help agents who are utilizing aerial photography.

“We’ve worked hard to strike a responsible balance that protects the safety and privacy of individuals, while also ensuring Realtors can put drones to good use,” said Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida., and president of NAR, in a press release.

Specifically, the NAR wants to focus on the category of drones known as micro UAVs. These are drones weighing less than 4 lbs. and, according to the NAR, do not pose the same threat to the safety of the general public as those classified under small UAV.

“Getting here wasn’t easy, and the FAA is to be commended for listening to the concerns of real estate professionals throughout the rule-making process,” Salomone said. “We’re entering a new stage of drone use in real estate, and no doubt there will be additional questions and challenges ahead. NAR will continue educating its members on issues important to the safe, responsible use of drones so they can grow their business and better serve their clients.”

New rules about UAV flying

Operations in Class G airspace are allowed without air traffic control permission. Read more about airspace and the regulations for each in the pilot’s handbook.

  1. You still may not fly your UAV above 400 feet in relation to ground level.
  2. If you are operating your drone above 400 feet, you must remain within 400 feet of a structure.
  3. The UAV must not exceed 100 miles per hour in airspeed.
  4. You must be 16 years of age to operate a drone remotely.

Another change is the inability to fly over groups of people “that are not participating in the operation” outside, within a structure or in a stationary vehicle.

There have also been changes to the use of drones as applies to delivery services.

Drones may transport property for compensation as long as they remain in the VLOS of the pilot in command, and they cannot be operated from a moving vehicle.

Originally posted by Britt Chester with Inman

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