Call a REALTOR® Today to Ask How YOU Can Buy Your Dream Home!

Call a REALTOR® Today to Ask How YOU Can Buy Your Dream Home!
       
Florence, KY – July 22, 2015- The Northern Kentucky Association of REALTORS® and The Northern Kentucky Multiple Listing Service are excited to report that home sales in June (629) rose 2.61% over homes sold in the same month in 2014 (613).  The biggest news we have to share is that the average selling price for June was $177,230- the highest average monthly price recorded by the local MLS, something potential sellers have been waiting for a few years to see.

The average selling price comparison for month over month (July 15 vs July 14) was up over 7% and total sales dollar volume for year–to-date 2015 is higher by 10% over the same period in 2014.   These all are encouraging signs that sellers are more likely to see their home sell for more than it would have just a couple of years ago.

June Stats and YTD

Still driving the home sale recovery of 2013, 2014 and 2015 is the low inventory of listings in Northern Kentucky. For a few years, investors were flooding the market to pick up foreclosures and other distressed properties for a song and now those buyers are moving to the background as fewer distressed properties are available.  When listing inventory is low, sellers often reap the benefits of multiple offers to buy their property.   The key is to have the features and amenities most buyers expect to have in their new home purchase. 
In June, 977 new listings came onto the market, the highest number of new listings since 2010 when the First Time Homebuyer Tax Credit was the driving force behind home sales. The spur in new listings is a positive sign that home sellers who have been waiting for the low priced foreclosure inventory to shrink are confident they can get an acceptable price from the sale of their home. Many sellers were underwater in the equity of their home and over time, that has stabilized. 

Since the housing crash of 2008, many homeowners lost their homes, forcing them to become renters.  As a result, rental rates have skyrocketed all across the U.S., making home ownership more attractive to those who have good credit and even a small down payment. In some areas of NKY, buyers can qualify for a U.S. Department of Agriculture home loan that accepts a $0 down payment to buy if the home is located in an eligible rural area and meets certain other USDA criteria.

You may be wondering, “How do I know if I qualify to buy a home?” First, contact a REALTOR®, who will be happy to guide you through the qualification process.  Your REALTOR® will help you find homes in your price range in the neighborhood you want by using the Multiple Listing Service (MLS), the most accurate source of homes for sale.  Once you find your dream home, your REALTOR® will write the purchase contract and present your offer, guiding you and negotiating on your behalf all the way through to the closing of the sale.  Isn’t it great to have a professional who is looking out for your best interests during one of the most important decisions you will make in your lifetime? 

Call a REALTOR® today to ask how you can buy a place to call “HOME”.