Companies that address continuity planning are more likely to continue their success. They’ll have the skilled leaders in place to maintain their momentum. Those that don’t pay enough attention to this important task may struggle as they try to figure out next steps.

To be sure, it takes time and a thorough analysis of your workforce to develop bench strength at key positions throughout an organization. You’ll need to pinpoint individuals who seem well suited to serve in more senior jobs. It may also require an examination of insurance products that can protect a company against personnel losses. But the benefits are potentially significant. Below you’ll find a number of issues to consider as you develop a continuity plan.

Developing a business contingency plan

Every company is different and it’s important for businesses to develop continuity plans that address their circumstances. Managers must determine how the departure of a person can affect the company. They should examine key roles throughout an organization and how the absence of an able replacement might weaken the organization. Such an analysis might take this form:

• Business impact: Identify how a key person or persons leaving the company would affect sales, revenue and business processes.
• Current provisions: Ensure that there is an able replacement for important jobs and a policy for them to seamlessly assume their new position. What are the gaps in succession planning; that is, if someone were to leave, who would take charge?
• Develop a plan: Establish how you can fill in gaps in your succession pipeline. That can include training additional people for that role or backing up sensitive information so it’s available to more than one person.
• Training/updates: Train potential replacements for the jobs they might fill. Have them perform some of the responsibilities they may one day assume, or give them exposure to a higher-level position through projects and training programs. Assign one or more people to review succession planning and the progress of promising employees. Revisit the process at regular intervals, such as yearly or more frequently.

A business continuity plan, in a sense, is emergency planning. The loss of talented managers can hurt a company’s performance as much as a computer virus, a misguided strategy or a warehouse accident. Smart companies are quick to say that they are only as good as the quality of their workforces. That’s why it’s crucial for you to ensure that you have processes in place to ensure your company has the best talent at all times.

Key person insurance

Insurance is designed to protect you from possible threats that are expensive to pay for on your own. Of course, traditional business insurance policies can cover some of the disaster scenarios and protect your company from unanticipated losses and liabilities.

But for business continuity planning, you’ll need key person insurance. Key person insurance is a life insurance plan that provides the company with funds should the insured person die. Companies find that taking out policies on top employees is beneficial because in the event of their death, the company receives money that can be used to recruit a replacement and cover other financial losses that can happen when a key person is suddenly gone.

The cash value of the insurance policy can sometimes be used for loans or withdrawals, as well. Key person insurance has another benefit. While the policy ensures that your company and its owners feel safe and secure, it assures investors, clients and contractors that you are a good risk as a business partner.

Buy/sell agreements

One way to fund the purchase of a partner’s business share is through a buy/sell agreement. This can take the form of a different type of life insurance arrangement. For example, in cross-purchase plans, each partner buys a life insurance plan for the other partner. If one partner dies, the beneficiaries are the other business partners, who then have the funds to buy out the deceased person’s business interests. The policies can also be transferred (exchanged) if the owners retire, so that each insured person’s estate becomes the beneficiary, rather than the other owners being the beneficiary.

Another option for a buy/sell agreement is the entity purchase or stock redemption plan. In this case, the life insurance policy is taken out by the business, insuring the business owner or owners. If an owner dies, the policy provides funds for the other owners to buy the business interest from the deceased person’s estate or heirs. The heirs then have a guaranteed buyer for that business interest, and the owners have the funds to purchase the rest of the shares, and don’t have to worry about a forced sale or business involvement by new, unchosen partners.

While continuity planning can be complicated, it’s best to be proactive about it before a key person leaves. It demonstrates an understanding of the inevitable personnel changes that occur and the importance of having a talented workforce at all times. To learn how to create a business succession plan to protect your company, speak with a Nationwide representative.

The post What You Need to Know About Business Continuity Planning appeared first on Now from Nationwide ®.

It can help you get your business into pockets of the market that aren’t adequately or fully served by the current competition. It can also prompt you to adjust what you’re doing to be more successful with your efforts.

Starting your competitor analysis

There’s a number of ways to conduct competitive market analysis. Here are some frameworks and questions to ask.

Start by looking at the competition and determining their:

• Market share
• Current and past marketing strategies
• Strengths
• Weaknesses
• Missing parts of the market share

Competitor analysis tools

Looking at things visually is a good way to quickly understand the big picture. Draw a grid, and on the left side write down names of a handful of competitors or their products or services that your consumers would purchase instead of yours. On the right side give a brief answer to some of their basic business operations, including:

• Target market
• Distribution method/service locations
• Price
• Shipping costs
• Customer service methods

By mapping these out on a grid, it may be easier to see patterns and understand their businesses at a glance. It’s easier to compare several products or services this way.

Another type of grid compares your competitors on key industry success factors, like product or service innovation, customer focus, brand loyalty and brand awareness. Use factors appropriate to your industry. Score each factor from 1 to 10 for each competitor, and put that number in the box. Then add up each competitor’s score to see which company or companies are the strongest. This way, you’re not relying on your gut impression but looking at it in a more systematic way.

Competitor analysis template

It might be helpful to create your own competitor analysis template to profile each of your competitors. The competitor analysis template can be in grid form but it can also be a detailed profile of the company and its services or products. In a profile, you’d dive into all areas of business operations. Not all financial, product- or workforce-related information is accessible, particularly for privately held companies. But with some digging, you can find out a surprising amount about an organization.

Background: Start with the company background. You’ll want to note where it is headquartered, where it sells its services/products, ownership and organizational structure. This section should include where the factories are located and their capacities. It also includes personnel issues, including key people, retention levels, compensation and management styles.

Financials: Financials are the next step. Consider your competitors’ method of growth, whether that’s through acquisition or organic growth. How profitable are they? What’s their cash flow?

Products and services: How deep are their product lines? What new items or services are they developing? How successful are their recently introduced products? How strong are their brands, both in loyalty and in recognition? What patents and trademarks do they own?

Marketing efforts: The marketing area includes traditional advertising as well as social media campaigns. Read their sales and promotional materials. What has worked for them and what has fallen flat? Do an online search for media mentions to determine how well their message is working and what audiences they’re appealing to.

Putting competitive intelligence into action

Now it’s time to take what you’ve learned looking at others during competitor analysis and apply that to your business. That means doing a similar analysis on your company. If you’re not a solo entrepreneur, then involve some employees. Several perspectives are better than one. If you work alone, ask some of your customers, business associates or vendors to answer key questions. Outside opinions are helpful. Seek ways your company can take market share away from the competition. Also, look for ways to move your product or services into markets that are underserved by the competition. That way, you’re creating a new market.

A competitive market analysis should be done when developing a business plan for a new business. But it should also be done routinely as part of business to continually assess the business landscape. Without paying attention to what the competition is doing and how the business environment is changing, it’s easy for your company to lose traction and market share. Business is always evolving, and companies that are evolving with it are better equipped to make changes that can attract more customers.

See how Nationwide can help you with your business needs. Whether it’s through business banking, insurance or employee benefits, trusted advisors can help you grow your business.

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Take a look at these 10 destinations that are perfect for any budget.

1: Tulum, Mexico

Lounge on white sandy beaches, visit historic ruins and enjoy spicy cuisine. Look for all-inclusive stays to get the most bang for your buck.

2: Key West, Florida

From a romantic swim with dolphins, strolling along Duval Street, or parasailing that will take your breath away, there is something for every couple and budget in Key West.

3: Jamaica

Affordable accommodations and inexpensive flights make for a budget friendly honeymoon. Once there, hike to isolated waterfalls, swim in turquoise water and enjoy the carefree atmosphere.

4: Selva Negra, Nicaragua

For the more adventurous honeymooners, Selva Negra offers affordable one-bedroom rooms coupled with exotic experiences. Nestled in a jungle, the wildlife you’ll encounter alone is worth the trip.

5: Adirondacks

Find respite in small bed and breakfasts or cabins nestled in New York state’s Adirondack Mountains. Plan your trip in autumn to see mountainsides burst with color and sleepy little towns come to life.

6: Outer Banks

Take lazy walks along the beach, go fishing or check out the 3,000+ shipwrecks under the sea during a visit to North Carolina’s coast.

7: Madrid, Spain

A moderately priced getaway, Madrid is great for a low-key urban honeymoon. Drink sangria, watch flamenco dancers and check out famous artwork in Spain’s largest city.

8: Nashville, Tennessee

Visit the Grand Ole Opry, walk through the botanical gardens and snap a shot of the Nashville skyline from the pedestrian bridge during a trip to Tennessee’s fun-filled capital.

9: Montreal, Canada

Take a trip north of the border where you can tour Old Montreal, take in a hockey game and try the country’s signature French fry dish, Poutine.

10: Lake Tahoe

For outdoor lovers, a trip to Lake Tahoe makes for an adventurous honeymoon. Depending on the season, you can hike, bike, swim or ski in the area.

Honeymoon wisely

Researching a honeymoon can be a great break from wedding planning, and is a reminder that there’s a light at the end of the tunnel of wedding planning stress. Whether you’re searching for inexpensive honeymoon ideas or exotic destinations, the amenities and location don’t matter as much as spending time with your new spouse.

Before you go, purchase travel insurance to protect your investment and make sure you’re covered if your trip doesn’t go exactly as planned.

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Another way to see these cars — and in a different, more active light — is to attend a vintage car race. Vintage car racing is exciting whether you’re a spectator or participant. Today it’s fairly simple to do either. Most states have some sort of vintage or classic car club that hosts at least one event each year. Some of the larger events, such as the Brickyard Vintage Invitational at the Indianapolis Motor Speedway, can attract more than 500 drivers competing in different classes,

Starting off: Historic Car Racing Groups and Events

If you want to race, you can find many vintage race cars for sale online or through organizations such as the Sportscar Vintage Racing Association. Many car clubs across the country hold races and other driving events, including hill climbs, rallies, car shows and concourses.

Attending some of these events before you buy your own classic car could help you get a better idea of what’s out there and learn more about what it takes to own, maintain and race a vintage auto. Also, it can be a good way to find old race cars for sale. You’ll learn some of the different categories and classes for competing, which can factor into your decision of what to buy.

Of course, putting on a helmet and climbing behind the wheel isn’t for everyone. If you prefer to watch the race from outside the car, there are plenty of ways to do that, too.

Classic Car Races

Depending on where you live — or how much you’re willing to travel — you can enjoy racing almost year-round. In addition to local races sponsored by car clubs in your area, here are three historic car events worth putting on your calendar:

1. Rolex Monterey Motorsports Reunion

This annual race held in Monterey, California, draws 550 drivers to the Mazda Raceway each August. Although it originally began as a way for a group of auto enthusiasts to gather and race each other, the event is now a primary feature of Monterey Car Week with the goal of giving historic cars an opportunity to compete for a Rolex Award.

2. Classic 24 Hour at Daytona

Racing has always had elements of endurance involved — particularly for the vehicles. This event takes place over the course of a full 24 hours and involves about 150 cars and 250 drivers. Intrepid racing groups compete in 1-hour driving sessions, swapping their drivers at pit stops throughout the race around Daytona International Speedway’s track.

3. U.S. Vintage Grand Prix

The historic Watkins Glen International Racetrack in New York will host hundreds of vintage race cars competing in 11 different race groups the first week in September. The names on the cars running this race will be familiar to auto enthusiasts and include Ferrari, Corvette, MG, Jaguar, Lotus, Porsche, Shelby and Alfa Romeo.

For anyone interested in classic cars, watching a vintage car race is a great way to see them in action. And, if you’re a classic car lover who decides to add a vintage vehicle to your own collection, be sure to contact Nationwide to set up a collector car insurance policy that’s designed to meet your unique classic car-protection needs.

The post 3 Major Vintage Car Races You Don’t Want to Miss appeared first on Now from Nationwide ®.

If you’re planning a wedding, you can save money on a ceremony in a glamorous destination — and spend less than you might when having it closer to home. Destination weddings can be very convenient, with resorts and hotels often providing all-inclusive packages that give you a range of venue and decor options to take the guesswork out of planning. With a few of the following considerations, you can save money on your wedding ceremony and travel to a beautiful place for an intimate celebration with loved ones.

Are Destination Weddings Cheaper?

Typically, your expenditures for a wedding and the reception will include things like food, drinks, decorations, flowers, hiring a photographer/videographer, booking an officiant and even accommodations for guests. In addition, your costs will rise if you’re planning to go on a honeymoon.

If you hold a destination wedding, you can save on food, drinks and ceremony costs with all-inclusive resort packages, which may include catering staff, flowers, an officiant and more. You’ll spend less time coordinating and planning, and more time living in the moment, thanks to these packages that provide a “one-stop shop” experience for every planning aspect.

Your wedding may also take place on a beach or in a pre-decorated facility, which means you may not need to spend as much — or any — money on decorations. Even if you’re initially planning to purchase supplies to create your own décor, you can still possibly eliminate this cost by having a destination wedding.

While it’s true fewer people may be able to attend your wedding due to the travel involved, you do have an opportunity to host a more low-key or intimate wedding. This can also help keep costs per person lower because you’ll only be charged for food and other items provided to the number of family and friends in attendance.

You may want to stay at your destination wedding location after the ceremony, which means that you won’t have to spend more traveling to a new location for a honeymoon.

Destination Wedding Ideas

If you want to hold a low-cost destination wedding on the beach, check out the Dominican Republic, which has direct flights from the United States and Europe; Jamaica; the white-sand beaches of Punta Cana; Belize, which is home to beautiful rainforests; and the seaside city of Destin, FL.

If you’d rather have a destination wedding in the mountains, on a lake or in a more urban setting, try such scenic area as Newport, Rhode Island or Portland, Oregon.

Charleston, Savannah, and New Orleans, provide romantic Southern charm, and they don’t require a passport, potentially making it easier for guests to attend.

Coordinate for Further Cost Savings

When booking your destination wedding, look for group rates on flights, hotel stays and resort packages — it can be helpful to work with a travel agent to make sure all these details are taken care of. Bundling services into a package will usually get you a discount.

You can also get married during the location’s off-season, when rates will typically be less expensive. For example, if they’re open during summer, ski resorts may have less-expensive rates for lodging and food. Ask the resort for recommendations for wedding planners and photographers if your resort or destination doesn’t provide them, and make sure you get references and examples of their work.

By taking the time to research and plan, you’ll find that your destination wedding will end up being one of the best days of your life and won’t break your budget.

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For many, an apartment is the right size. However, deciding to downsize into an apartment requires some careful evaluation, especially as you’re considering how your lifestyle may change when you’re living in a smaller space. If you’re thinking about downsizing to an apartment, consider the following seven benefits of making the switch.

1. Less Upkeep

A major benefit for most people when downsizing from a house to an apartment is less maintenance. There are fewer indoor chores to manage with less surface area to dust and smaller floors to sweep. Plus, there’s usually no outdoor maintenance since landlords or the apartment’s maintenance crews will handle removing snow, landscaping and mowing the lawn. If you rent an apartment, it’s also likely that you won’t incur maintenance or repair costs for your appliances, furnace or air conditioning units.

2. Use Fewer Natural Resources

In addition to having fewer maintenance requirements, apartment living can be “greener” than living in a house, too. There’s no large lawn or garden you’re responsible for watering. If you move to an apartment in an urban area, it’s easier to walk or bike to nearby entertainment, and you’ll likely have better access to public transportation.

3. Meet New People

When downsizing to an apartment, there’s ample opportunity to meet new people and try new activities. Playing a hand of cards or going for a walk with the neighbors is easy and convenient to do in an apartment compared to a more isolated lifestyle in a country home, for example.

4. Avoid Unnecessary Purchases

Apartment dwellers are less likely to make impulse buys because they simply lack the space to store extra items. With a small space, you make purposeful decoration choices and only purchase what’s needed rather than what appeals to you on a showroom floor.

5. Pass Down Family Heirlooms

Downsizing your home means downsizing your belongings. It provides a good opportunity to pass family heirlooms down to younger generations. You get to see the appreciation your grandson has when he gets your old baseball card collection, for example.

6. A Fresh Start

Switching from a large home to an apartment often gives people a new outlook on life, especially if it’s your first time living in an apartment. The apartment represents a new beginning without home burdens such as high property tax payments and larger mortgage or rent payments, depending on the location of the apartment. It can feel liberating to start a new life chapter, and it may inspire you to make other freeing decisions, too.

7. Reduce Your Monthly Bills

If you’re able to find a good deal, an apartment usually offers lower monthly utilities than a home. You’ll use less electricity, heat and water in an apartment, and some monthly bills may be eliminated altogether. For instance, the monthly cost to rent a water softener to manage hard water is unlikely inside an apartment. Some of your utility costs may be included in your rent, too, such as your waste management or water bill.

After downsizing you have less clutter, but you’ll still have things worth protecting. See what renters insurance covers to help make sure your new smaller home and belongings are protected.

The post 7 Benefits of Downsizing to an Apartment appeared first on Now from Nationwide ®.

But finding the right people in the timeframe you require can be challenging. Because the Internet allows anyone to send in a resume, even if they’re not qualified for a position, you may need to spend extra time sifting through resumes submitted online.

Fortunately, there are alternatives to online applications, and there’s a number of ways to encourage promising jobseekers to consider your company. If you want to learn how to hire the right talent for your company, consider the tips below.

Look beyond online applicants for new hires

Network

Ask your friends and acquaintances if they know someone who would be a good fit for a job. A neighbor may know just the right person who’s looking for work. Use social media to get the word out to your friends. If you’re active in a local charitable or business-networking group, network there as well.

Hire From a Great Experience

Did you see someone with amazing customer service skills at the fast food restaurant? Were you impressed with someone’s attitude and initiative at the bank? It doesn’t hurt to mention to that person you’re looking for someone with their skills or enthusiasm. Give them your card. They may want to make a change and call you.

Hire Interns

Local colleges have students looking for job experience. Can you provide them with cash and job training? Internships can help you find extra help without the major financial obligations of salary and benefits. They can also serve as an opportunity to test and train someone for a full-time position. You’ll see first-hand how someone functions in the workplace and whether they can learn the skills needed for a job. Meanwhile, interns will gather valuable work experience, and with paid internships, can earn a little in the process.

College or Other Job Fair

Try visiting a college or local job fair to meet people who are looking for work. You can let jobseekers know more about your company. You also have an opportunity to meet people on the spot and see their personalities. Take notes on their resumes so you can remember who they are when you start interviewing.

Use a Recruiter

When hiring employees for specialty positions, you might want to use a recruiter. It can be expensive in the short run because recruiters often charge a fee and/or percentage of the person’s first year salary. However, it can save you and your staff time if the recruiter can quickly identify the best candidates for your position.

Offer a Referral Bonus

Motivate your employees to help recruit for you. Offering a bonus to employees who refer someone who gets hired increases the incentive for those employees to find quality people. Make it easy for them to post the ad on social media by giving them the text and links. You can also offer a referral fee to your entire network, not just employees.

Make it Easy for Jobseekers

Make job openings easy to find and apply for on your website. Ensure the application process is user friendly, and use a simple online form if possible to help prospective employees see all the information they need to submit.

Provide a Detailed Job Description

Whether you’re posting a job listing online or advertising at a job fair, give a detailed description of the position and skills needed. Not only will the applicant have a better understanding of whether it’s a good match, but they can also effectively tell you why they’re a good fit. In addition, be clear about what makes your company a great employer. Do you offer paid education or benefits? Do you have low turnover? Tout your advantages to encourage more people to apply.

Experiment with Advertising

Try running ads on social media sites and online resume sites. You can tailor these ads to run in certain locations, and you can further detail the type of person you’re looking for so the ad targets the right people on the network. Depending on the position, you might post flyers at the grocery store or library. If you’re a retailer, hang a “now hiring” sign in your window.

Consider a Telecommuter

Does the person you’re hiring have to come into the office? If not, broaden your options and consider hiring someone who works from home. An increasing number of job seekers are weighing quality of life issues more heavily as they consider positions. They want to reduce or eliminate travel times to work and see telecommuting as an important option.

Be Patient When Hiring New Employees

As you’re determining how to hire the best employees, it pays to ask around and try a range of methods. Don’t forget that offering great benefits, including life insurance and retirement plan options, have the potential to attract high-quality employees.

The post How to Hire the Best Employees appeared first on Now from Nationwide ®.

If you’re in the market for a new car, you may be debating whether to buy or lease. It’s a big decision. After buying a house, a new car is the second biggest purchase most people will ever make.

To help you through this milestone, here are the pros and cons of each option:

Pros and cons of leasing a car

Summary: If you like always driving the latest models or don’t have the credit or money to buy a new car, leasing may be a smart option.

Pros and cons of buying a car

Summary: If you plan to keep your car for a long time, modify it or drive a lot of miles, it makes more sense to buy.

If your decision is based strictly on dollars and cents, use our auto loan vs. lease calculator to calculate your monthly payments.

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They understood the importance of careful planning, hard work and strong communications. They imbued their organizations with the values that would ensure that their companies could achieve long-term success.

The importance of planning

Similar to all startups, family-owned companies must set specific business goals. To achieve those objectives, they require a well-crafted business plan that outlines the entity’s operating structure, revenue projections, target markets, business costs, personnel and business culture. Such plans should also cover competition and other potential obstacles.

Raising capital is crucial. Family businesses often rely more on their own members for funding than outside sources. Still, they may also reach out to venture capitalists and other outside investors for funding, offering a minority share of the business in exchange. They may borrow money from banks in the form of different business loans.

In many cases, the member of the family who spearheads the venture leads the company. That individual should have the experience to run a business. Additional family members assume other management tasks, preferably related to their expertise, such as a background in accounting, finance, marketing, purchasing or customer service.

Establishing clear communication

Before the doors open, all family members need to be assured of their ownership stakes, their work obligations and the clear path toward achieving their respective career objectives. These expectations should be in writing to ensure there are no misunderstandings.

Although the initial stages of building the business may occur at family homes, once the entity is in place more formal meetings should occur at the office. This underscores that family time is different than business time.

Similar to any successful business, the company needs to incorporate basic financial processes and systems. It needs to produce balance sheets and income statements and ensure they’re readily available to investors and accountants.

The company also needs to create routines, including meetings to discuss progress and avenues for potential growth. It also needs to establish criteria for how it will make major decisions; this can be tricky because of family relationships, and it requires tact.

Creating a business succession plan

A business succession plan is vital to maintain orderly, skilled leadership from one generation to another. Each member’s respective strengths and weaknesses should be apparent, making it easier to project someone into the senior leadership roles. It may also help the business leaders know when they need to reach outside the family for reinforcements, such as when they need to find someone with a particular skill. Learn more about business succession planning.

As the years progress, other family members will come of age and may want to join the company. That can be one of the advantages of a family business; namely, that recruiting a new trusted employee isn’t always necessary.

That said, many successful family businesses require their second-generation family members to have outside experience before coming on board. Not only does this prepare the person to assume specific work assignments, but it also allows for a broader business perspective that can assist the company’s growth.

Launching a business with family members can be a rewarding experience both, professionally and personally. Yes, there can be obstacles, but by setting the right tone and instituting solid practices, a family can build a long and profitable legacy.

Along with clear, strong values, your new business will also need insurance.  Learn how to protect your investment for generations with small business insurance.

The post How to Create a Successful Family Business appeared first on Now from Nationwide ®.

It’s best to research price trends thoroughly before starting to look for a home. Find out when’s the best time to buy a house with the information below.

The best time to buy a house is usually autumn and winter

Autumn and winter are generally the best seasons to buy a house across all regions in the US. As the holiday season picks up, buyers and sellers are making plans and celebrating with family. In areas affected by the cold weather, this trend maybe more pronounced. As a result, people who are in the market to purchase homes are focused on other things, so there’s often less competition at this time of year.

Prices may also be lower in winter. In January and February, houses typically cost 8.45% less than they do in June and August, according to a study from NerdWallet. Sellers are often encouraged to wait until spring to list their homes, and those who keep their properties on the market through fall and winter may be more willing to negotiate a deal,

Conduct your own local research

It’s important to remember that real estate markets vary, so the best time to buy a home in your area may differ from overall national trends. It’s best to ask local realtors to determine if your target market fits general patterns or if there’s something unusual about it.

For example, if you live in Southern California, where temperatures remain mild for much of the year, home prices may not vary much seasonably. Or if you’re in a place where people vacation during the winter, housing prices might rise right before the busy season.

Prices may also vary by circumstance. If demand is weak because an area has been hard-hit by an economic downturn or developers have been overbuilding new houses, home prices may fall. These drops may not dovetail with the normal seasonal trends for that region.

The reverse may be true, too. A neighborhood that’s becoming more desirable can fetch higher prices.

Research pricing trends

Home buying requires work and that includes developing a sound understanding of pricing trends. Such information can increase the likelihood that you find the right house at an affordable price. Visit real estate websites to look at a variety of trend statistics to get a feel for the market in the area where you’re thinking of purchasing.

The sale-to-list-price ratio, for example, is a percentage that indicates if homes are selling at, below or above their listing prices. If the number is above 100%, homes are selling above their listing prices, and vice versa. Median list and sale prices indicate the average value of home prices in a particular area, which can help you discern if homes tend to sell within your budget range. Many sites generate these numbers monthly or even weekly, so it’s easy to keep an eye on the trends.

Once you’ve closed on your new home, you’ll need to protect yourself and your house. Learn how Nationwide can help by requesting a homeowners insurance quote today.

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