Friday, August 1, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Sellers excited about the market again

By
From page HS10 | January 24, 2014 |

LOS ANGELES — Home sellers are more optimistic about repurchasing a home than in the past few years, thanks to strong growth in home prices, record-low interest rates, and better personal financial situations, according to the California Association of Realtors 2013 California Home Sellers Survey.

More than two-thirds (69 percent) of home sellers purchased a home after selling their previous residence, up from nearly half (47 percent) in 2012, and from only 12 percent in 2011.

“Much-improved housing market conditions in the last year have given sellers more confidence to own a home rather than to rent one,” said CAR President Kevin Brown. “With sellers being more positive about the future of home prices, the vast majority of sellers who are currently renting plan to buy again in the future.  In fact, 70 percent of sellers who are currently renting said they would purchase another home, up from 22 percent in 2012.”

Nearly half of sellers (43 percent) believe that home prices will rise in one year, compared to just 9 percent in 2012, and nearly three of five sellers (58 percent) believe home prices will increase in five years, up from 12 percent in 2012.

Additional findings from CAR’s 2013 California Home Sellers Survey include:

  • The reasons for selling changed significantly in just one year. In 2012, the majority of sellers sold primarily because of financial difficulties, but as home prices surged, a desire to trade up became the top reason for selling in 2013. Others wanted to take advantage of low interest rates to finance their next home, and some sellers believed the price of their home had peaked and wanted to cash out.
  • Heightened market competition in the first half of 2013 led to an increase of multiple offers, nearly all home sellers (98 percent) said they received multiple offers, up from 83 percent in 2012. On average, each home sale received 5.9 offers in 2013 compared to 3.1 offers in 2012.
  • Fierce market conditions also led to bidding wars, with nearly half (45 percent) of all sellers receiving offers higher than the asking price. In fact, more than one-third (37 percent) received three or more offers above asking price. Sellers, on average, received 2.2 offers above asking price.
  • The Internet continued to be the most common resource for sellers to find an agent, with 51 percent of sellers finding their agent online. One-fourth of sellers used the agent with whom they had previously worked, up significantly from just 3 percent in 2012.
  • Website listings were an integral part of the selling process, with more than two-thirds of sellers finding Realtor.com as the most important website in the selling process.
  • • Social media is playing a larger role in the home-selling process. Nearly three-fourths (74 percent) of sellers incorporated social media into the selling process, up from only one-fourth (24 percent) in 2010. Sellers used social media sites such as Facebook (83 percent); Twitter (52 percent); YouTube (39 percent); LinkedIn (24 percent); and Yelp (19 percent) to learn more about their agents or to communicate with them.

Comments

comments

.

News

Cameron Park house burns

By Dawn Hodson | From Page: A1 | Gallery

 
Supes delay petition

By Chris Daley | From Page: A1

Fire generated small city, inspired volunteers

By Dawn Hodson | From Page: A1 | Gallery

 
Sand Fire 95% contained

By Cole Mayer | From Page: A1

 
Two fires in town

By Cole Mayer | From Page: A3

SUV hits parked cars

By Dawn Hodson | From Page: A12

 
.

Opinion

The weekly Daley: The wrong side of history

By Chris Daley | From Page: A4

 
Billingsley’s bullets: Advice from my psychiatrist

By Bob Billingsley | From Page: A4

.

Letters

Second Amendment

By Letters to the Editor | From Page: A5Comments are off for this post

 
Pollock Pines’ Fourth of July Parade

By Letters to the Editor | From Page: A5Comments are off for this post

Water conservation

By Letters to the Editor | From Page: A5Comments are off for this post

 
Koby

By Letters to the Editor | From Page: A5

Debt reduction at EID with Coco?

By Letters to the Editor | From Page: A5

 
Time for change in CP

By Letters to the Editor | From Page: A5

Olives need less water

By Letters to the Editor | From Page: A5

 
EID rate discrimination

By Letters to the Editor | From Page: A5Comments are off for this post

.

Sports

Camp draws good numbers

By Jerry Heinzer | From Page: A9Comments are off for this post | Gallery

 
New law tackles gridiron concussion problem

By Mike Bush | From Page: A9 | Gallery

Outside with Charlie: Rafting denied

By Charlie Ferris | From Page: A9

 
Racing returns with big 5-division card

By Bill Sullivan | From Page: A9

Roundup: July 31, 2014

By Democrat Staff | From Page: A10

 
.

Prospecting

Sing while you paint

By Placerville Arts Association | From Page: B1Comments are off for this post | Gallery

 
Plenty of golden fun during SlugFest

By Democrat Staff | From Page: B2 | Gallery

Things to do: Aug. 1, 2014

By Democrat Staff | From Page: B2

 
The making of a champion

By Special to the Democrat | From Page: B2

Art on the Divide is showing new exhibitor

By Art On The Divide | From Page: B3

 
‘The Flu Season’ stirs emotions

By Ovation Stage | From Page: B4

Guitar group performs in Sutter Creek

By Sutter Creek | From Page: B5

 
Time to register for classes at Center Stage

By Center Stage Dance Academy | From Page: B5

Get a groove on in Sutter Creek

By Sutter Creek | From Page: B8

 
Chris Young in concert at Carson Valley Inn

By Carson Valley Inn | From Page: B8

The music continues at Bear Valley Music Festival

By News Release | From Page: B8

 
Sacramento Museums are celebrating

By Sacramento Association Of Museums | From Page: B9

 
.

Essentials

Weather stats

By Michael Raffety | From Page: A2

 
Crime Log: July 17-19

By Cole Mayer | From Page: A2

.

Obituaries

Mark A. Smith

By Contributor | From Page: A2

 
Jeffie “Jeff” Lee Callahan

By Contributor | From Page: A2

Patsy Ruth Wing

By Contributor | From Page: A2

 
Lisa Oliver Rose

By Contributor | From Page: A2

Larry A. Randall

By Contributor | From Page: A2

 
.

Real Estate

Decorating your home by the numbers

By Marni Jameson | From Page: HS4

 
Avoiding the deal killers

By Ken Calhoon | From Page: HS4

Hilltop home views outrank water-front views

Press Release | From Page: HS7

 
Luxury home sales jump

Press Release | From Page: HS11

 
Pending home sales decrease in June

Press Release | From Page: HS13

 
Sheryl Lindroos joins American Heritage

Press Release | From Page: HS17

Sunny Rosabella exudes a warm ambiance

Press Release | From Page: HS23

 
.

Comics

.

Home Source

Decorating your home by the numbers

By Marni Jameson | From Page: HS4

Avoiding the deal killers

By Ken Calhoon | From Page: HS4

Hilltop home views outrank water-front views

Press Release | From Page: HS7

Luxury home sales jump

Press Release | From Page: HS11

Pending home sales decrease in June

Press Release | From Page: HS13

Sheryl Lindroos joins American Heritage

Press Release | From Page: HS17

Sunny Rosabella exudes a warm ambiance

Press Release | From Page: HS23