Jeff Williams

03/18/2024

Weekly Housing Trends View—Data Week Ending March 9, 2024

Our research team releases regular weekly housing trends reports, looking at inventory metrics like the number of active listings and the pace of the market. Here’s what the housing market looked like over the past week.

12/11/2023

Zillow's 2024 housing outlook is just one of many predictions to come out this month that suggests more homes will hit the market. But that also means they're calling for a slight decrease in prices. Read the details here.

06/23/2022

🚨Happy Closing Day🚨

So happy for my out of State Client on purchasing this beautiful New Construction home‼️

Will you be next??

Are you looking to buy a 🏡??? Are you looking to sell your 🏠??? Do you need to know where to start? Are you ready to find the home of your dreams and looking for an agent that can guide you? Are you looking to sell your home but fearful because of what you hear about today’s market? Well contact me today and let’s chat‼️

11/12/2021

When interest rates goes up and prices come down, you are still going to end up paying a higher monthly mortgage.
A 1% rise in interest rates equals a 10% increase in payments, so a home cost essentially 10% more‼️

NOW is always the best time.

WHY YOU ASK???

Great question...

Today we know where we are in the market. With the interest rates being so low and all the programs that are available TODAY, we don't know what the future holds. So come and speak to the “PROFESSIONALS” and let us guide you!!!

11/10/2021

I know with all the news out there about how the market is right now, it may seem a little scary right now as a buyer and a seller, but NOW is always the best time.

WHY YOU ASK???

Great question...

Today we know where we are in the market. With the interest rates being so low and all the programs that are available TODAY, we don't know what the future holds. So come and speak to the “PROFESSIONALS” and let us guide you!!!

11/04/2021

I know with all the news out there about how the market is right now, it may seem a little scary right now as a buyer and a seller, but NOW is always the best time.

WHY YOU ASK???

Great question...

Today we know where we are in the market. With the interest rates being so low and all the programs that are available TODAY, we don't know what the future holds. So come speak to the “PROFESSIONALS” and let's us guide you!!!

11/04/2021

Expanding wealth and growing families are prompting more millennials to become homeowners. Ultra-low mortgage rates are continuing to attract them as well.

Young adults ranging from 26 to 41 years old comprise about 22% of the U.S. population. It’s why the housing market has been watching this age segment so closely for so long.

More millennials have become homeowners since the pandemic. Millennials have accounted for the largest share of home buyers over the past year—37%, reports Barron’s.

The pandemic is motivating purchases. The number of households headed by adults aged 30 to 44 years old jumped by 1.3 million during the pandemic.

Married couples ages 31 to 40 were more likely than any other age group to purchase homes, according to the National Association of REALTORS®. Also, the largest group of unmarried couples who purchased homes were adults between the ages of 22 to 30.

Millennials are approaching their peak earning years. “Over the next couple of decades, a quarter of the U.S. population is going to reach peak earning years, fueling continued housing demand—especially for inexpensive starter homes, which nationally had a beginning price of $304,200 in the second quarter of 2021,” Barron’s reports.

Remote work will only further housing demand, reports suggest. Millennials were the most likely generation to say that the reason for owning a home was to have a space of their own for a larger home, according to NAR’s data.

Student loan debt continues to hit this generation hard, however. That has made it more difficult to save enough to afford higher home prices. Read more: Student Debt Sidelines Half of Would-Be Buyers and Loosening the Yoke of Student Loan Debt

But housing analysts continue to remain bullish about the millennial generation’s impact on housing. Low interest rates, strong employment, and the growing perceptions over the importance of a home will likely continue to fuel a millennial housing boom, writes Dana Peterson for Barron’s.

11/03/2021

Zillow Group said Tuesday that it will stop buying and selling homes, citing the “unpredictability” of forecasting housing prices.

The Seattle-based real estate information company said winding down its Zillow Offers homebuying and selling unit will take several quarters and will result in about a 25% reduction in the company’s workforce, which is now at about 5,300.

The announcement comes about two weeks after Zillow said it would pause buying homes through the end of 2021, citing a backlog in renovations and other operations due to labor and supply constraints. The idea was to temporarily stop buying homes and focus on selling those it had already purchased.

But the company decided since then to shutter its home-flipping business altogether. In a press release Tuesday announcing the company’s third-quarter results, CEO Rich Barton pinned the reason for closing down Zillow Offers on how difficult home-prices forecasting has become.

The company also disclosed it took a write-down of about $340 million because it bought homes during the third quarter at prices that exceed Zillow’s estimates for what those properties will fetch in the future.

Zillow Offers is among a group of so-called “iBuyers,” which includes Redfin and Opendoor. These companies buy homes, typically from sellers who want to sell their home quickly, and then put the homes back on the market.

These companies have been competing with regular homebuyers as the housing market superheated over the past year amid a shortage of properties on the market. The home-flipping business has helped juice Zillow’s revenue this year. For the nine months ended in September, Zillow Offers’ revenue increased 88% to $2.65 billion versus the same period of 2020.

Zillow said it expects to book an additional $240 million to $265 million in losses in the fourth quarter primarily on home transactions expected to close this quarter.

Shares in Zillow fell 10.2% Tuesday before the release of its earnings amid published reports about the company’s plans to shutter the home-flipping business. The stock slumped another 12% in after-hours trading following its announcement.

11/03/2021

🚨 WHO YOU HIRE MATTERS...

Are you looking to buy a 🏡??? Are you looking to sell your 🏠??? Do you need to know where to start? If you're ready to find the home of your dreams and looking for an agent that can guide you to putting together a standout offer, ☎️ me today and let's get out there and find your new home together!!!

11/01/2021

In the top 10 most affordable cities for those earning the average wage, the median sales price of a single-family home was under $200,000. The following are the five cities that topped Forbes Advisor’s list as most affordable places for average-wage earners:

1. Macon, Ga.

Median sales price (Q3 2021): $104,750
Annual income needed to buy a home: $19,471
2. Peoria, Ill.

Median sales price (Q3 2021): $124,950
Annual income needed to buy a home: $28,749
3. Detroit-Warren-Dearborn, Mich.

Median sales price (Q3 2021): $155,000
Annual income needed to buy a home: $30,949
4. Augusta, Ga.

Median sales price (Q3 2021): $132,000
Annual income needed to buy a home: $23,568
5. Charleston, W.Va.

Median sales price (Q3 2021): $138,500
Annual income needed to buy a home: $24,274
The most affordable cities for condo buyers, according to Forbes Advisor, are:

1. Tulsa, Okla.

Median price for condos, townhomes, rowhomes, and co-ops (August 2021): $81,500

2. Wichita, Kan.

Median price: $103,000

3. Hartford, Conn.

Median price: $103,950

4. Harrisburg, Pa.

Median price: $108,500

5. Columbia, S.C.

Median price: $119,700

10/25/2021

Happy client's 🙏🏽......

Will you be next??

Are you looking to buy a 🏡??? Are you looking to sell your 🏠??? Do you need to know where to start? Are you ready to find the home of your dreams and looking for an agent that can guide you? Are you looking to sell your home but fearful because of what you hear about today’s market? Well contact me today and let’s chat‼️

10/23/2021

🚨 SOLD🚨

So happy for my client, after 8 days on the market and multiple offers, we had this home under contract at $245,000🙏… A few challenges but we made it to the closing table. Thank you for trusting me and letting me earn your business 🎉🎉 🎉....

Will you be next??

Are you looking to buy a 🏡??? Are you looking to sell your 🏠??? Do you need to know where to start? Are you ready to find the home of your dreams and looking for an agent that can guide you? Are you looking to sell your home but fearful because of what you hear about today’s market? Well contact me today and let’s chat‼️