Today’s homebuyers are faced with a strong sellers’ market, which means there are a lot of active buyers competing for a relatively low number of available homes. As a result, it’s essential to understand how to make a confident and competitive offer on your dream home. Here are five tips for success in this critical stage of the homebuying process. 1. Listen to Your Real Estate Advisor An article from Freddie Mac gives direction on making an offer on a home. From the start, it emphasizes how trusted professionals … [Read more...]
How to Be a Competitive Buyer in Today’s Housing Market [INFOGRAPHIC]
Some Highlights With so few houses for sale today, it’s important to be prepared when you’re ready to buy a home. Meeting with your lender early, knowing your must-haves and nice-to-haves, preparing for a bidding war, and keeping your emotions in check are all ways to gain confidence in the homebuying process. If you’re looking for an expert guide to help you navigate today’s lightning-fast housing market, let’s connect today. … [Read more...]
Will the Housing Market Bloom This Spring?
Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season. Danielle Hale, Chief Economist, realtor.com: “Despite early weakness, we expect to see new listings grow in March and April as they traditionally do heading into spring, and last year’s … [Read more...]
6 Simple Graphs Proving This Is Nothing Like Last Time
Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another crash. However, there are many reasons this real estate market is nothing like 2008. Here are six … [Read more...]
How Upset Should You Be about 3% Mortgage Rates?
Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: 1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly as we proceeded through the year. 2. Freddie Mac’s comments about the rate increase were … [Read more...]
5 Reasons to Sell Your House This Spring
When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready. 1. There’s high demand from homebuyers. Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential … [Read more...]
How to Prepare Your House for a Winning Sale This Spring [INFOGRAPHIC]
Some Highlights With so few homes available to buy today, houses are in high demand, and they’re selling fast. That means it’s a great time to sell if you’re ready to make a move. Let’s connect to make sure your house is ready for a top-dollar sale this spring. It may be closer than you think! … [Read more...]
Is It a Good Time to Sell My House?
Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell. Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains: “Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers … [Read more...]
How Smart Is It to Buy a Home Today?
Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, and only you can judge what impact those factors should have on your desire to move. However, there’s one category that provides a simple answer. When deciding to buy now or wait until next year, the financial aspect of the purchase is easy to evaluate. You just need to ask yourself … [Read more...]
Home Prices: What Happened in 2020? What Will Happen This Year?
The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of the Federal Housing Finance Agency (FHFA) Division of Research and Statistics, explains: “House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA Home Price Index. Low mortgage … [Read more...]
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