Chuck Barberini Real Estate

  “Just Thinking" They say deaths come in threes. More specifically, they say celebrity deaths come in threes. Of course, it's nothing more than a superstition. There are no proven studies, no scientific formulas, and no official scorekeepers keeping track of these things. Yet it seems like every time a well-known figure passes away, people immediately start wondering who the next two will be. The belief, often referred to as the "Rule of Threes," has been around for generations. There are no actual rules, and the belief may vary depending on who is telling the story. Common versions include: 1.      Three people die within a short period of time (days, weeks, or months). 2.     The deaths are often people who are somehow connected, such as celebrities, coworkers, family members, or members of the same community. 3.     Once the third death occurs, the cycle is considered complete, and people stop looki...

 You're scrolling through listings on your phone and everything looks good until you see the price (or the estimated monthly payment). Then you close the app.  Because even if you love the house, the numbers feel impossible. But here's the thing. Nationally, there are more homes sitting on the market than there are people out there looking. And when sellers need buyers more than buyers need sellers , that shows up in the price. Lower asking prices. More price cuts. And homes priced for what buyers can actually afford – not what sellers hope someone might pay. And it may be enough to make buying more doable than you’d think.  4 Out of 10 Sellers Are Cutting Their Price  One of the clearest signs sellers are adjusting? Price cuts. HousingWire Data shows more than 40% of sellers are dropping this price. That’s just slightly behind the volume we saw last year ( see graph below ): That’s more than 4 out of every 10 homes listed. Think about what that means. That's tho...

 Few things are as rattling as the thought of your home sale falling through at the last minute, right before closing. All that waiting, all that progress, out the window. But if you’re getting ready to sell, here’s what you should know. Even in today’s market, it rarely comes to that. Buyers who are moving at today’s rates and prices are generally moving because of some big life change. That means they’re motivated, and eager to get all the way to the closing table. According to the latest data from Redfin , only about 1 in 7 pending sales are falling through . Meaning the vast majority make it all the way to closing. And the single biggest thing that puts a deal at risk is the one you have the most power to prevent. It just takes a little smart planning before your house hits the market. Why Some Deals Fall Apart Before Closing A Redfin survey sheds light on the most common things that trip up a sale (see visual below): Here’s a bit more information on each one. Inspection or re...

  “Just Thinking" There were two historical anniversaries this week that are note worthy that I will talk about this week. Every year on August 15, we commemorate one of the greatest engineering achievements in human history: the opening of the Panama Canal in 1914. The project was started by France in 1880, Ferdinand de Lesseps, the builder of the Suez Canal, started the venture to cut passage through the Isthmus of Panama. However, difficult terrain, tropical diseases, engineering challenges, and financial problems led to the project's collapse. Thousands of workers lost their lives, and the French eventually abandoned the endeavor before its completion. In 1904 the United States paid $40 million purchasing the French company's remaining assets and securing the rights needed to build the canal. President Theodore Roosevelt became the driving force behind the effort, he strongly supported the canal's construction, recognizing its strategic and economic importance. Roo...

  Check Out This Weeks Newsletter Nearly 80% of Major Metros Are Now Buyer’s Markets Redfin data shows homebuyer demand at a record low in July, giving buyers leverage in nearly 80% of major U.S. housing markets. The number of buyers looking for a home fell to about 966,752 in July, the lowest count on record.  Redfin counted about 1,462,921 sellers in the market during the same month, nearly half a million more than the buyers competing for those homes. When sellers outnumber buyers by this much, the buyers left in the market get more room to negotiate on price, contingencies, timeline, etc. There’s more leeway for sweetening the pot. This changes how to set both buyer and seller expectations going into fall. Are you ready for it? Buyer Demand Hit Its Lowest Point on Record Buyers dropped to about 966,752 in July, down 2.5% from June. Sellers fell too, down 0.3% to 1,462,921, the lowest seller count in a year. The difference between those two numbers comes to nearly half a mi...

 When's the last time someone told you what your house is worth? Not what some online valuation tool guessed. Not what your neighbor's house sold for. What yours is actually worth right now. For a lot of homeowners, it's been years. And if you've been thinking about moving, but higher home prices or mortgage rates have made you hesitate, here’s why it’s time to take a second look at that number. Your House May Be Worth More Than You Think Home values have climbed significantly over the past 5-10 years. And even though today's market is more balanced, homeowners are building wealth every day just by owning their homes. That’s how equity works. As home values rise, and as you make your monthly payments, your equity grows. And it adds up fast. According to Cotality, the typical homeowner with a mortgage now has $310,500 in equity. That's not a small number. It’s six figures. And that’s only the national average. In many states, homeowners have built even more equit...