Springfield MO Home Buying and Selling Trends for 2018

Predicting the Springfield, MO housing market in the New Year is difficult unless you have a crystal ball. Most Springfield real estate agents expect 2018 to remain a warm housing market in most neighborhoods. Home buyers will likely experience a slight increase in mortgage rates but nothing to deter buying. Home values along with prices and sales were strong in 2017. Throughout the country, home prices are back to the peak before the Great Recession. From a national standpoint, the median home prices for condos and single-family homes stood at about $225,000. Home prices on a national level went up about 7 percent compared to the year before. For buyers moving to Springfield, MO, from high-flying housing markets such as Denver and Seattle, there is greater buying power. The New Year shows positive signs for selling and buying in Springfield. Continue reading

Boosting A Home’s Perceived Worth With Color

Putting a fresh coat of paint on your home won’t necessarily boost the home’s appraised value. Yet, many buyers will pay more for a home with on-trend colors because of perceived home worth. Most home appraisers think about your home’s size or square footage, the number of bathrooms, the garage size and other concrete factors. Potential buyers, on the other hand, concentrate on cosmetic details. Some buyers are willing to pay more than the appraised value for a home that has a nice appearance. According to an article by cbslocal, interior paint colors dramatically impact home sale profits. A study by Zillow looked at thousands of houses to figure out which colors boosted or deflated sale prices compared to basic white walls. Continue reading

Reasons Behind The Tight Real Estate Market

If you’re looking for a reason the housing market is so tight, perhaps the baby boomers are to blame. The inventory of entry-level homes continues to remain low. Economists say higher home prices and lower inventory creates a housing struggle between reluctant baby boomer sellers and motivated millennial buyers. Millennials are finding themselves out in the cold because new construction has slowed, and longer-living baby boomers are staying put, setting up a simmering conflict between the two biggest generations in U.S. history. Continue reading

Gen Z and the Real Estate Market

The next generation of future homebuyers is Generation Z, the small cohort born after millennials. According to a recent article by marketwatch.com Gen Z is already anxious to buy homes. About 57 percent of Generation Z individuals surveyed by Zillow said they feel confident about making the switch from renter to owner. Experts say members of Gen Z include people born in the late 1990s and early 2000s. When listing your home to sell or buying a home, consider the next generation of homeowners. Continue reading

Modular Home Myths Debunked

People mistakenly consider modular homes in the same category as mobile homes due to their construction in a factory. Many make the mistake of thinking them flimsy. The strength of a modular home therefore, they think, cannot compare to that of a stick-built home. Springfield real estate companies beg to differ. Research and evidence has accumulated over the years regarding the strength of modular homes versus their stick-built brothers. Let’s examine some of that research. Continue reading