It’s common knowledge that location, crime and neighborhood can affect a home’s value. But what are some of the more invisible factors that influence sales?
The view from the backyard, the maximum angle that opens up to scenery or nature from your backyard. This is measured from no scenic view at all to 180 degrees, indicating that the view is scenic from every angle.
Backyard exposure to neighbors. How easily neighbors can see into a home and the backyard.
Home prices in most U.S. housing markets are reaching their peak, but there’s no need to fear a repeat housing bust, according to a new joint analysis by Florida Atlantic University and Florida International University. Throughout the majority of the country, home prices have been rising steadily since 2012, and there are signs the runup may be starting to slow.
“Housing markets are slowing, suggesting that we are nearing a peak in housing markets around the U.S.,” says Ken Johnson, a real estate economist at Florida Atlantic University. “But this is good news, as we are pulling back from the brink, unlike we did in 2007.”
Researchers at the universities created the Beracha, Hardin & Johnson Buy vs. Rent Index, which shows that out of 23 metros areas studied, 13 are slightly to moderately in “buy” territory. That means owning a home is more favorable than renting for the majority of residents in that area. On the other hand, 10 metro areas were slightly to moderately in “rent” territory.
“Our data indicates that prices are above their 40-year trend but not significantly so, as they were in 2007,” says Eli Beracha, co-creator of the index and associate professor in the Hollo School of Real Estate at FIU. “Rather than a crash, I anticipate slower growth in prices accompanied by longer marketing times for sellers and increasing inventories, which should bring prices back in conjunction with their 40-year trend.”
While home building has been ramping up the housing supply remains well below long term averages and demand. Both multifamily and single family housing stock remain well below long term averages and are not nearly enought to house millions of millennials now entering the 30’s and starting families. Not to mention the empty nest baby boomers who have increasingly opted for smaller, more conveniently located quarter.
Multifamily construction has been increasing steadily since 2011 and construction in the US are now at a rate not seen in 30 years. Yet, due to the dramatic decline in single family construction since the sub prime mortgage collapse and recession of 2007, new households are forming at a greater level than U.S. housing can support resulting in a strong supply and demand imbalance.
Only about 30% of the businesses listed for sale in California sell. That is why it is important to all your business information organized and ready. There should be a complete overview of your business, you will need 3 years of tax returns and Profit and Loss statements. An inventory of all your equipment and personal property included in the sale. Make sure you understand all of your financial information and the correct adjusted income. Prepare you accountant and attorney in order for them to be available to answer questions and understand your goals. You should obtain a non-disclosure agreement prior to releasing detailed vendor information and financials. Lastly remember the business is not sold until the escrow closes and keep calm and have a positive attitude.