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Young Buyers Returning to the US Housing Market En Masse

A key factor in the housing market recovery is returning to the national market en masse, much to the elation of housing market analysts.

According to a recent Bloomberg article, more and more first-time home buyers are entering the market because they feel more confident about the economic recovery.

Faster economic growth and a labor market that’s approaching “full employment” (according to the Federal Reserve) are aiding in that rise in confidence among first-time home buyers.

Even if you’re not a first-time home buyer, this news is sure to benefit anyone who is navigating the national housing market right now.

Fannie Mae Economist Makes Positive Predictions for 2015

Douglas Duncan, a chief economist at Fannie Mae in Washington, made the following predictions about the year ahead:

  • There will be a 6.3 percent increase in mortgage lending for purchases this year.
  • This increase follows a 9.6 percent decrease in 2014.
  • Increasing confidence in the job market is the strongest indication that home sales will improve.

Thomas Reuters Consumer Sentiment Poll Reflects Similar Optimism

Recently Thomas Reuters partnered with the University of Michigan for a consumer sentiment poll and this is what they found:

  • Consumers expect an increase of 1.7 percent in their incomes in 2015, the highest since 2008.
  • Those under 45 years old expect the biggest gain at 4.7 percent.

More Encouraging Factors From The National Economy

Meanwhile, economic growth (bolstered by consumer spending as well as business investment) is increasing. In fact, the Commerce Department reported that the US grew by 5 percent in the third quarter, which is the fastest since 2003.

The Fed said it expects the economy will expand between 2.6 percent and 3 percent in 2015, up from 2.3 percent to 2.4 percent in 2014.

Plus, the economy added more than 2.7 million jobs in 2014, which is the most since 1999, according to the Bureau of Labor Statistics.

And the jobless rate will average 5.2 to 5.3 percent, which is at the level last seen before the financial crisis.

All of this job growth and creation means that the median household income in 2014 increased 1.6 percent to $53,880 through November. Experts say that rate should increase through 2015.

Which Brings Us Back to the First-Time Home Buyer

All of this growth and prosperity is driving young home buyers to the market. As they enter the market, more homes will change ownership, freeing up existing home owners to buy bigger and better homes.

We’ve said it before and we’ll say it again: You need a regular stream of first-time home buyers to aid in the growth of any housing market. Thus, we’re thrilled that more and more first-time home buyers are coming back to the market.

Your #1 Resource for Real Estate News

We hope you found today’s news on first-time home buyers as encouraging as we did!

Check back here soon for more valuable information on the current state of the housing market and how it may impact you as a buyer or seller.

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Report: US Home Inventory Low, Making It a Great Time to Sell

Happy New Year! We hope you and your loved ones enjoyed a wonderful New Year’s Eve and that you’re as excited and hopeful about 2015 as we are!

And if you’re a prospective home seller, a recent report from the National Association of Realtors suggests that there’s a good chance you can get a great price on your home right now.

According to the recent report, US home sales recently hit a six month low, with inventory at a low point too.

While this may seem discouraging at first blush, this actually suggests that those homes that are being sold on the market are being met with increased demand. After all, home buyers have a smaller selection of available homes to choose from than in recent months.

The key to sealing the deal on your home for sale and getting a great price is expert marketing.

A Closer Look at This Recent Real Estate Report

Here are some of the highlights from the recent National Association of Realtors report:

  • Existing home sales decreased 6.1 percent to an annual rate of 4.93 million units.
  • That figure is the lowest it’s been since May
  • Meanwhile, home inventories reached an eighth month low.
  • Home sales were up 2.1 percent from a year ago during the month of December.
  • Meanwhile, the U.S. housing index was down 0.2 percent as shares in the largest homebuilder (D.R. Horton) decreased 0.4 percent. Lennar Corp fell 0.43 percent and Pulte Group decreased 0.19 percent.
  • Also, the inventory of unsold homes decreased 6.7 percent from a year ago, to 2.09 million.
  • At November’s sales pace, it would take 5.1 months to sell all homes currently on the market. A six month supply is usually considered a healthy balance between supply and demand.
  • The decreased supply of homes means that the median home price increased 5 percent from a year ago.

Experts say that fickle wage growth as well as higher home prices have kept a lot of first-time home buyers out of the market.

Still, experts also say that with job gains and wage growth expected in early 2015, more and more first-time home buyers are likely to enter the market in the coming months.

In fact, during the month of November, first-time home buyers accounted for 31 percent of all transactions, which is the biggest share they’ve occupied since October 2012.

For comparison purposes, first-time home buyers comprised 29 percent of all transactions in October.

Expert Real Estate Marketing is Key to Selling Your Home

As you can see, there is plenty of opportunity to get a good price on your home, you just have to make sure your home stands out to prospective and qualified home buyers.

That’s where working with an experienced real estate agent can help. A professional will be able to create a custom-made marketing plan for your home that will maximize its exposure to the right buyers.

This will ultimately lead to you getting your home sold in a relatively short amount of time and for a great price!

Check back here soon for more expert insight on the national housing market and how it may impact you as a seller.

Here’s to a happy and prosperous 2015 for you and your family!

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5 Predictions for the US Housing Market in 2015

Are you a current home owner who is considering listing your property on the market in 2015?

If so, then you’re likely to enjoy a lot of success!

After all, Realtor.com recently released its top predictions for the housing market in the New Year. And all of them seem to favor home sellers.

Let’s Take a Closer Look at National Housing Market Predictions

Millennials will enter the market en masse. This is something the housing market has needed for the last couple of years: More Millennials entering the market as first time home buyers. And according to projections, that’s what you can expect in the New Year, with more than two thirds of household formation being credited to this demographic. Helping matters is the fact that about 2.5 million jobs are expected to be added next year, improving home buying power.

There will be an increase in existing home sales. These sales are expected to increase 8 percent during the New Year. Meanwhile, as more people gain employment and increased incomes, distressed property inventory is expected to decline. All of this means a lower real estate inventory. This coupled with a surplus of buyers will create a seller’s market.

Home prices will rise. This generally follows when housing inventory shrinks. In fact, prices are expected to increase by an average of at least 4.5 percent in the coming year. Thus, if you’re thinking about possibly selling your home, 2015 is likely going to be a good year for doing so.

Mortgage rates will increase as well. For much of 2014, these rates have hovered around 4 percent and under. But with the previously mentioned factors and the Federal Reserve’s expected rate hike in the early part of 2015, residents can expect home loans to shoot up to 5 percent in 2015. If you have been thinking about re-financing, it makes sense to do it sooner rather than later since mortgage rates are likely to increase.

Home affordability will decline. With all of these changes on the market expected, home affordability is projected to decrease by 5 to 10 percent. This will be driven by price appreciation, mortgage rate hikes and tighter housing inventory. Again, if you’re thinking about possibly selling your home, 2015 is likely to be a good year for home sales.

See You In 2015!

We hope that as a home seller, you’ve found the above predictions encouraging.

We’ll be back in the New Year to discuss whether these real estate predictions come true and to revisit how they will impact buyers and sellers.

For now, we hope you and your family have a happy holiday season!

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Last Minute Christmas Gift List

When you don’t receive a Christmas list or you do receive a list, it just isn’t elaborate enough; everyone knows it can be a pain to try to pick something out for that certain loved one.  Well, this year we are going to try and make that a little bit easier for you.  We are going to provide a list of perfectly suitable gifts sorted by age and gender.  We hope that this will be a tremendous help!

We researched all of the top toys that were being purchased this holiday season and put together a great list for you to choose from.  These are gifts range in age from 2-18!

Ages 2-4

Girls: Fur real Friends, Toy medical bag play set, and stuff animals

Boys: Home Depot toy Tool Box Kit, Hot Wheels, and Thomas and Friends Trains

Both: Leapfrog Products, Mega Blocks, and a Mr. Potato Head

Ages 5-7

Girls: Barbie dolls, Disney Princess dress up, and American Girl Dolls

Boys: Nerf Guns, Lincoln Logs, and Hex bugs

Both:  Legos, a scooter, and an art kit

Ages 8-11

Girls: Nerf Rebelle Agent Bow Blaster, Disney Frozen princess “Elsa” Doll

Boys: Ultra Stomp Rocket, Perplexus-Epic, and Snap Circuit Jr.

Both: Headbandz board game, Boogie Board, and Kinetic Sand

Ages 12-14

Girls: Karaoke Machine, the Hunger Games Trilogy, and Hairchalk

Boys: Made by Dad, Ballista Kit, and Skateboard

Both: Klutz The Encyclopedia of Immaturity, Edible Chemistry Kit, Apples to Apples

Ages 15-18

Girls: Hair Wrap and Braid Kit, Diana Camera, and Infinity scarves

Boys: Amplifying Phone Case, Scratch Map Globe, and A Prank a Day memo pad

Both: Bluetooth Droplet Speaker, custom sneaker kit, and a portable emergency phone charger.

What would be a great gift for any age?  How about a new home? J Remember Accent Realtors when you decide to buy or sell in the Tulsa, OK area!

Well there you have it, a list of some of the top presents to buy those whose lists just weren’t good enough.  We hope this has been a great help for you and we wish a very merry holiday season!

By : Alaina Molinar

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10 Winter Home Improvements That Are Worth The Investment

We hope everyone had a memorable Thanksgiving Day last week and enjoyed the long holiday weekend.

With December officially upon us, residents can expect temperatures to continue to dip as we head into the New Year.

So today, we wanted to share with you some relatively easy home improvements that you can make that will save you money during the winter months.

Home Tips for Saving Yourself Money This Winter

Here are 10 home improvements that you can make this winter that will save you both money and energy:

Caulk around windows and doors, making sure that all cracks and holes are sealed. This will keep the cold air out of your house, which will keep your heater from working overtime. If necessary, you might also consider adding or replacing weather stripping.

Add area rugs to your tile and wood floors. This creates an extra layer of insulation in your home and also makes it easier to walk around your home in bare feet during the winter time.

Install glass doors that close off your fireplace. This will not only keep cold air from coming down and through your house but it will also prevent warm air from escaping through the chimney. Also, if you use your fireplace, make sure to close the flue when you’re finished.

Insulate your attic door. For instance, you can buy covers for your attic staircases or openings. This will actually help you reduce energy costs all year long.

Cover your windows. Even if you don’t have storm windows, you can create your own with a window insulation kit. And inside your house, consider using insulated drapes.

Buy Insulated Garage Doors and Exterior Doors. Typically, the garage doors that come with most homes aren’t insulated. You can change that to save on energy costs.

Add insulation to your home throughout. This includes in the attic as well as the crawl space, garage and basement. Experts recommend that you add insulation if you haven’t done so in more than 20 years.

Reverse Ceiling fans. Some people may not be aware of this but you actually have the option of reversing your ceiling fans. Running them counterclockwise makes it cooler during the summer months but by making them clockwise, they will circulate warm air back into the room.

Replace your furnace filters. Just like with anything else, dirty furnace filters will make it work less efficiently. Generally speaking, filters should be changed every month during the heating season.

Replace your outdated furnace altogether. If your furnace is older, you might consider purchasing a newer unit that is going to produce more heat with less energy. Just make sure that you get the right size for the space you have.

If you want to take your home-savings even further this winter, you can check out the U.S. Department of Energy’s do-it-yourself energy audit on their website. Or you can call a contractor and request a professional audit.

Offering You National Home Advice You Won’t Find Anywhere Else

We hope you found this information helpful as a current home owner.

Please be sure to check back soon as we continue to provide you with useful and relevant real estate information!

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Serving Our City, Food Drives in Tulsa

This holiday season there is a lot we can do to help those in need in the Tulsa, OK area.  Among the different types of charities there are a number of food drives that need our help so they can provide food for the less fortunate.  There are so many different opportunities to give back to our community and giving the people who need our help most is one of the best ways to do so.  This season there is an abundance of business’s who are helping to make those in need a little less hungry.  Sprouts, The Community Food Bank of Eastern Oklahoma, and many more are participating in some kind of way to make this happen.

Sprouts

Sprouts is giving us the opportunity to participate in their annual Grab ‘n Give holiday food drive.  This event allows us to shop around the store and donate bags of groceries for a 10% discount.  They then take the bags and give them to the local food bank.  This is just such a great way to give back.  You are already going to be at the store and all you have to do is pick up a few extra items to donate.  It’s that easy, but for more information, click the link: https://www.sprouts.com/community-involvement

The Community Food Bank of Eastern Oklahoma

The Community Food Bank of Eastern Oklahoma is a food bank that is always looking for support all year round, but during this holiday season would love any extra support they can get.  They provide over 335,000 extra meals to people who are hungry in Oklahoma each week.  Isn’t that amazing?! During this season, every dollar you donate, the company will match it with two dollars more! Also, The Food Bank is hosting a Turkey Day Run! So come on out and help The Food Bank fight hunger on Thanksgiving! For more information about donating or the Turkey Run, click the link: https://okfoodbank.org/

1 in 6 people in Oklahoma suffer from hunger.  During this Holiday Season it is important that we let our giving spirits known by doing what we can for people in need.  These are great opportunities to show your care for people, but there is so much more we can do!  There are over 20 places in the Tulsa area where you can find a place to donate food or other needed items.  There is so much we can do to make sure that those who are on the streets or are just in need of a good meal have all they need over the holidays.  It doesn’t take much to make people happy.  This quote by Mario Batali says a lot, “Unlike curing cancer or heart disease, we already know how to beat hunger: food.”

Needless to say, this holiday season, make sure you reach out and help those who are in need in our community.

By: Alaina Molinar

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More US Home Buyers Returning to Market

More and more home buyers are returning to the US housing market because they’re noticing favorable market conditions.

Specifically, buyers are feeling more comfortable about navigating the market thanks to interest rate stabilization and easier mortgage rules, according to a recent article by Reuters.

This is fantastic news for the overall health of the housing market. After all, it suggests that the national real estate market is likely to become more stable over time.

Trends That US Home Buyers Should Be Aware Of

According to the recent Reuters article, new home builders D.R. Horton Inc and Toll Brothers Inc. are seeing jumps in home buyer demand.

And they’re not the only ones.

In fact, new home builders everywhere are reporting improved home buyer enthusiasm, which has been a great relief to many of the companies after an underwhelming spring home selling season.

And pre-owned home sales are also reflecting similar home buyer enthusiasm levels.

Here’s what else the national home buyer should know about recent trends on the housing market:

  • Interest rates decreased in October to their lowest levels since June 2013
  • In fact, these interest rates are still considered to be at historic lows.
  • The Dow Jones U.S. home construction index increased about 4 percent this year so far. And this increase came after the index already doubled between January 2012 and January 2014.
  • Meanwhile, new proposed rules will allow buyers to purchase homes with down payments as low as 3 percent.

The proposed rules are great news for first-time home buyers, who are a key part of any housing market recovery. In fact, some experts believe that the housing market recovery will speed up as soon as more first-time home buyers enter the market.

And a faster housing market recovery is good news for everyone!

Meanwhile, In Canada…

The real estate market conditions in Canada are looking just as encouraging, with Canadian resale home prices continuing to rise in October.

Prices were up 5.4 percent from a year earlier, which is right on par with September’s year-on-year gain.

What’s more, October marked the 11th month in a row that the index has increased. Still, it should be noted that prices rose in only five out of the 11 metropolitan markets surveyed.

Prices rose 1.2 percent in Vancouver and rose 0.5 percent in Calgary. Toronto saw prices decrease 0.2 percent.

Your Central Source for Housing Market News

Check back here soon for more valuable updates on the current state of the national housing market and how they may impact you as buyers and sellers.

We pride ourselves on offering you relevant and reliable information that will help you make the best real estate decision possible for you and your family!

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US Home Sales Rose In September, Report Shows

U.S. homes sold at a faster rate in September than any other time this year, a recent report from the National Association of Realtors said.

Evidently, sales of existing homes increased 2.4 percent from the previous month to a seasonally adjusted annual rate of 5.17 million.

Experts are saying that this increase is a great sign that the housing market is picking up and moving past the slowdown that started in mid-2013.

More Encouraging Signs on the National Housing Market

The National Association of Realtors provided some additional information that helps paint a more complete picture of the current state of the housing market:

  • The sales rate has dropped 1.7 percent over the past 12 months.
  • First-time home buyers comprised about 29 percent of all sales. This is below the historic average of roughly 40 percent.
  • Median home prices increased 5.6 percent over the last 12 months to $209,700.
  • September sales increased in the South and West compared to the previous month.
  • Meanwhile, sales increased slightly in the Northeast and dropped in the Midwest.
  • Nationally, the share of purchases by investors decreased from 19 to 14 percent year-over-year.
  • The report projects that 4.94 million existing homes will be sold this year, down 3 percent from 5.09 million in 2013.
  • Generally speaking, real estate experts say 5.5 million existing home sales is a healthy market.
  • Meanwhile, housing starts increased 6.3 percent to a seasonally adjusted annual rate of 1.017 million homes, although much of that was new apartment buildings.
  • Apartment construction has jumped 30.3 percent over the past 12 months, almost three times the rate of growth for single-family houses.

Many Forces Are at Work to Create These Conditions, Analysts Said.

For instance, over the last year, fewer investors have entered the market. Luckily, their pullback has been offset by existing homeowners who are moving up to more expensive properties or downsizing as empty nesters.

Meanwhile, some would-be buyers have been kept out of the market because of rising prices through much of 2013, weak income growth and tighter credit standards.

Experts are now predicting that the worst of the housing market recession is over but that the economy and housing market will likely grow in fits and starts.

One development that might help with this growth is the fact that the federal regulator overseeing Fannie Mae and Freddie Mac is considering creating an option for lower down payments so more people can qualify for a mortgage.

And because the average 30-year fixed rate mortgage dropped below 4 percent recently, experts are expecting more buyers to enter the market.

In Fact, Many Signs Suggest Now Is a Great Time to Be A Buyer

For instance, online real estate brokerage Redfin said that only 44 percent of its offers in October faced bidding wars. This is down form a high of 75 percent in March 2013.

Meanwhile, more homes are expected to become available on the market thanks to many investors’ plans to sell for tax reasons at the end of the year.

So if you’ve been sitting on the fence about whether to invest in property, now is a great time to do so!

Your #1 Real Estate Resource

We believe that knowledge is power and so we work hard to provide you with the most accurate and up-to-date information on the national housing market. Hopefully you found today’s report helpful!

Check back here soon for more valuable insight on the recent trends on the national housing market and how they may impact your efforts as a buyer or seller!

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Trick or Treating Safety Tips

This Halloween it is important that everyone stays safe while they are out and about Trick or Treating.  We have researched some great safety tips and have come up with these as our Top 10:

1. Before going out for the night, make sure that you talk with your family about what kind of route you plan to take when walking around the neighborhood.  This will ensure a safe game plan when your out and about.

2. This is a must! Wear your most comfortable shoes! No one wants to be walking around for hours on end in high heels or sandals. Make sure you know what shoes fit you best and remember to wear them for your night of pain free fun!

3. Always make sure you have some sort of light with you. Whether it be a flashlight, or taping reflective tape to your child’s costume, make sure you have that source of light.

4.Make sure that your child’s costume fits them appropriately. Avoid wearing masks and keep the length of the costume short to avoid constantly tripping over it through out the night.

5. Always walk on the sidewalks whenever it is possible. If there is no sidewalk available then walk on the far edge of the road where you are facing traffic.

6. When you are making your crosses from street to street, always cross at the cross walk.

7.  Adult supervision is a must for all kids 12 and under.

8. Never enter a house for candy.

9. Walk in well let areas of your neighborhood. It’s a lot safer considering that cars will actually be able to see you.

10. Whenever you get home make sure you look over your children’s candy and make sure there is nothing already open or home made.

We hope you all have a fun and safe Halloween!

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Fun Halloween Events

Halloween is in less than a week and we could not be more excited! There are many great aspects that come along with this fabulous holiday and many have to do with celebrating and candy. This year we are going to give you a couple non-traditional activities you and your family can as well as one very traditional event that everybody loves! I know that a lot of people think of Halloween as a holiday for spooky creatures and haunted houses, but that’s not all we found when putting together a list of fun things to do. The three great events I think you and your family will really enjoy this Holiday season are HallowZOOeen at the Tulsa Zoo, HallowMarine at the Oklahoma Aquarium, and finally, old fashioned Trick or Treating right in your own neighborhood!

HallowZOOeen

HallowZOOeen is a family friendly event that takes place at the Tulsa Zoo. This great event is a weeklong event that started Monday the 27th and ends Friday the 31st. The fun starts at 6:30 and ends at 8:30, with tickets that only cost $8. Come join the family fun with activities that include The Haunted Train and The Cross-eyed Carousel (Those are additional fees). All of these tickets are available to be purchased online. This Halloween activity is a great way to spend time with your family and feel comfortable in a safe location. For more information about HallowZOOeen click this link: www.tulsazoo.org/events/hallowzooeen/

HallowMarine

HallowMarine is a wonderful Halloween event that takes place at the Oklahoma Aquarium in Jenks. This event also started on Monday the 27th and ends on Friday the 31st. The Aquarium will be closing at 6 from the general public and will open again at 6:30 for the Trick or Treaters. The Aquarium will close from all of the Halloween fun at 9pm. Tickets to enter the HallowMarine event very with age so make sure to check it out on the website. There will be great activities to participate in, including: Trick or Treating, a costume contest, a bounce house/slide, and much more. There is no doubt about it that this is going to be a spooktacular event. For more information about HallowMarine click this link: www.okaquarium.org/hallowmarine/

Trick or Treating

Trick or treating is among many of the Halloween traditions that originated quite some time ago. For children, now days, it’s the best part of this Holiday. The kids get to dress up in whatever they want, stay up late, and accumulate buckets and buckets of candy. Some might consider it to be the best time of the year!

By Alaina Molinar