Chuck Barberini Real Estate

  The cost of buying a home has been getting loads of attention lately. But this time around, we’re focusing on the cost of selling one. According to a recent survey, the typical homeowner spends an average of $54,616 in home-selling costs. Clever Real Estate surveyed 1,000 Americans who have sold a home since 2022. And among them, 42% said the cost of doing so was higher than they expected. With those higher-than-anticipated selling costs cutting into profits, 89% of those recent sellers have regrets. This is despite the fact that the median profit of those surveyed was $100,000. Nearly nine out of ten say they would have made different choices had they known the true cost of selling their home. That alone presents an opportunity for agents to step up and fill a knowledge gap that so often results in regret and resentment. The most common regrets cited in the survey include: Selling too quickly (30%) Missing their old home (29%) Not selling for enough money (28%) The first and thi...

  News releases from Zillow and Redfin put a spotlight on rising inventory levels as more homeowners list their homes while buyers take a step back. Zillow’s release draws on its latest market report, which shows new listings outpacing home sales in May, easing both buyer competition and home price appreciation. Homeowners may be less daunted by the lock-in effect from listing their homes this year, but buyers—particularly younger Millennial and Gen Z buyers and those earning less than the median household income—still face significant affordability challenges. That said, the forecasted softening in home price growth, combined with the knowledge and proactive approach of a skilled real estate professional, could give more buyers the advantage they need to become homeowners in 2024, regardless of rates remaining near 7%. NEW LISTINGS RISE 8% FROM APRIL AND 13% YEAR OVER YEAR From April to May of 2024, new listings from sellers increased by a larger-than-average 8%, and the total fig...

    Read My June 14th Newsletter At the FOMC press conference on June 12, 2024, Jerome Powell gave an opening statement and answered questions from reporters. The Federal Reserve decided to maintain the current federal funds rate rate and signaled only one rate cut by the end of 2024, down from the three cuts previously suggested. Despite inflation easing slightly, it remains high enough to raise concerns about long-term stability, though the Fed did note the recent progress toward their 2% goal. The Fed’s updated “dot plot” indicates a general leaning toward a more aggressive rate-cutting path in 2025, given the right conditions, with a projected federal funds rate of 4.1% by the year’s end. Keep reading for the direct timestamps and transcripts for every time Powell mentioned housing during the press conference. And be sure to tune into today’s Hot Sheet, where Byron Lazine broke it all down. COMMENTS ON HOUSING FROM POWELL’S OPENING STATEMENT Fed Chair Jerome Powell’s openi...

  A Redfin report on voter priorities across generations reveals that 91% of adult Gen Zers rank housing affordability as important to their vote in this year’s presidential election, outranking abortion rights, the U.S. economy, preserving democracy, and foreign wars. That’s according to a Redfin-commissioned survey conducted by Qualtrics and fielded to about 3,000 U.S. homeowners and renters in February 2024. Meanwhile, Millennials, Gen Xers, and Baby Boomers are more likely to say the strength of the economy is important to their vote for president, compared to any other issue. Also, compared to housing affordability, Gen Xers and Boomers are more likely to choose preserving democracy as a deciding factor. That said, housing affordability is important to 80% or more of every generation. And all generations rank housing affordability above abortion rights and student debt. Gen Z voter priorities:  Housing affordability (91%) Strength of the overall economy (82%) Education (8...