Active-service military home buyers are younger, more likely to be married, and have multiple children, according to NAR’s 2016 Veterans & Active Military Home Buyers and Sellers Profile. Look for them to buy larger, more expensive homes.
Homeowners looking to sell and move to a new place are in a great position; according to the National Association of REALTORS®’ 2015 Profile of Home Buyers and Sellers, sellers are seeing the sales price of their home creep up closer to list price—the median sales price as a percent of the listing price is 98 percent. Just a few years ago, in 2011, owners were selling their home for 95 percent of the list price. The amount of time a property sits on the market also matters in the sales price compared to the listing price. For homes that lasted less than a week on the market, half were sold for full listing price, while another 19 percent were sold for more than that price. The sale-to-list price ratio falls as time goes on (for example, homes that are on the market for 5-8 weeks are only sold for 100 percent of the listing price 17 percent of the time and more than listing price only 3 percent of the time).
These days, it seems like everyone is looking for ways to save a few dollars while also making those much-needed home improvements. Thanks to YouTube instructional videos and HGTV’s ideas and inspiration, homeowners can now tackle a lot of home improvement projects themselves. And while those DIY projects are fantastic (not to mention impressive!), it’s important for homeowners to know their limits. A new piece by the National Association of REALTORS®’ consumer website, HouseLogic, gives DIY-ers some solid advice for tackling those bigger projects, including the importance of thinking 10 steps ahead, steering clear from automatically choosing the cheapest options, and going DIY only when emergency help is available (NOT on holidays, when plumbers and electricians are often unreachable).