Facebook
X
Pinterest
Copy Link
This week’s blog: Real estate stats show home sale prices increasing and many people now are desiring to downsize. NAR gives good ideas for homeowners thinking of selling (or in future). Also included at end of the blog, current stats on Black Diamond, Pine Ridge and Terra Vista.
UPDATED WHO TO CALL LIST: (added window cleaner/power washer and Screen Replacement Company)
Who to Call for Services 02:2025
The national median price for a single-family existing home rose nearly 5% in the fourth quarter of last year compared to a year earlier, settling in at $410,100, NAR’s fourth-quarter data shows. In the last five years alone, median home prices have jumped 50%. In the fourth quarter, home prices in the Northeast saw the largest gains, up 10.6%, followed by an 8% increase in the Midwest, 4% in the West and 2.1% in the South, NAR’s report shows.
Despite the widespread home price gains, housing affordability “marginally improved” in the fourth quarter, according to NAR. The monthly mortgage payment on a typical existing single-family home was $2,134 (assuming a 20% down payment). That is down by 1.7%—or $37—compared to a year ago, NAR reports.
Households are still devoting a big percentage of their income to pay their housing bills, however. Families devoted about 25% of their income to mortgage payments, yet down from 26.5% last year. First-time home buyers typically spent 37.4% of their family income on mortgage payments, which also is an improvement from 38.1% in the prior quarter.
When it comes to what home buyers want, detached single- family homes continue to be a hot commodity.
link to full article:90% of Markets Saw Home Price Gains in Fourth Quarter
And while buyers are looking for larger properties, it’s not a whole lot more than what they currently have, according to the National Association of Home Builders. Single family households have increased n the housing market. People are also downsizing to save on cooling and heating costs.
In 2023, home buyers had a median of 1,802 square feet in their current home and wanted a median of 2,067 square feet, NAHB found in the latest edition of its “What Buyers Really Want” survey. That’s about 200 square feet—the size of a 14-by-14 bedroom—less than what they wanted two decades ago.
link to full article:New Homes Are Getting Smaller. Are Buyers Looking for Less Square Footage?
Once you decide to sell your home, you might have questions about how to prepare it for listing and viewing by potential buyers. An agent who is a REALTOR® can guide you through this process. Here are some common considerations as you prepare your home to sell:
Do I need to have my home inspected before putting it up for sale?
No, a pre-sale inspection is not required. However, an inspection can be used to identify potential issues in your home that you can consider repairing before showing your home to potential buyers and use as a differentiator for your property. If you choose to conduct a pre-sale inspection, an inspector will assess your home’s condition, including its structure, exterior, roof, plumbing, electrical systems, heating and air conditioning, interiors, ventilation / insulation, and fireplaces. It may also include tests for problems that can affect human health like mold, radon gas, lead paint, and asbestos. Sometimes buyers may also conduct their own inspection as a contingency in their purchase agreement. If you uncover possible issues that may appear during a buyer’s inspection, you will have time to make any necessary changes that could impact your home’s asking price. You should also talk to your agent about disclosure requirements in your state if a pre-sale inspection uncovers an issue.
What should I do if something in my home needs to be fixed or replaced soon?
If something in your home requires a significant repair—such as a roof, a system such as HVAC, or an appliance like a dishwasher or washer / dryer—you should determine how much the repair will cost, even if you do not plan to fix it before selling the home. These estimates will help sellers determine the costs that buyers might take into consideration when negotiating a purchase agreement.
Am I required to make any cosmetic updates to my home before putting it up for sale?
No, but you may want to clean the windows, carpets, lighting fixtures, and walls, and store away clutter before showing your home to potential buyers. Sellers may also look for ways to improve “curb appeal”—how the home looks to a potential buyer when viewed from the street—by updating aspects such as landscaping, the front entrance, and paint jobs. These steps may help improve the home’s appearance in photos, which can play an important role in attracting potential buyers.
Do I need to provide information about appliances that will stay in the home after it’s sold?
You should locate warranties, guarantees, and user manuals for the furnace, washer / dryer, dishwasher, and any other appliances or systems that will stay in the house with a new buyer. It is recommended that you find these items now to avoid any lost paperwork causing an issue with a potential buyer when you reach the time of finalizing, or “closing,” the transaction.
What does it mean to stage my home?
Staging is the process of cleaning a home and temporarily filling it with furniture and decorations that may help buyers better see themselves living in the home. While it is not required, some sellers may work with a stager to focus on certain key areas of their home that are important to buyers. Some agents may also include staging in the services they provide you.
Practices may vary based on state and local law. Consult your real estate professional and/or an attorney for details about state law where you are purchasing a home. Consumer Guide: Preparing to Sell Your Home
NOTE: Consumer guides do not constitute any change in NAR policy. Real estate professionals must ensure they market properties consistent with relevant MLS rules and educate sellers on the choices available.
visit facts.realtor for more information and resources.
link to full article: Consumer Guide- Preparing to Sell Your Home
Here is what has sold, pended or now for sale in Black Diamond, Pine Ridge and Terra Vista.
Black Diamond
for sale: https://portal.onehome.com/en-US/share/1008138D08599
pending or sold 2025: https://portal.onehome.com/en-US/share/1008139h90550
Citrus Hills gated (Terra Vista)
for sale: https://portal.onehome.com/en-US/share/1008144P66310
sold/pending; https://portal.onehome.com/en-US/share/1008142j48183
Pine Ridge
Pending/sold 2025: https://portal.onehome.com/en-US/share/1008145m53204
