Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey. Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year. The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their … [Read more...]
NAR Reports Show It’s A Great Time to Sell!
We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house. Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report. THE PENDING HOME SALES REPORT The report announced that pending home sales … [Read more...]
4 Reasons Why Fall Is A Great Time to Buy A Home!
Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Freddie … [Read more...]
Home Prices Up 6.49% Across the Country! [INFOGRAPHIC]
Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more! … [Read more...]
What Does the Future Hold for Home Prices?
Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market. The Impact of Rising Interest Rates We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and … [Read more...]
Homeownership is a Dominant Gene
There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents. Children are More Likely to Own a Home if Their Parents Did According to an analysis of millennial homeowners, the homeownership rate of those whose parents rent their homes is 14.4%, while the rate amongst millennials whose parents are homeowners is 31.7%! “A young adult’s odds of homeownership are highly correlated with their … [Read more...]
Rents Are on The Rise: Don’t Get Caught in The Rental Trap!
There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped A recent article by Apartment List addressed rising rents by stating: “Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth now stands at 1.2 percent.” The article continues, explaining … [Read more...]
5 Reasons You Should Sell This Fall!
Here are five reasons why listing your home for sale this fall makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes. Take advantage of the buyer … [Read more...]
A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]
Some Highlights: Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most ‘educated’ decisions you can make! A real estate professional has the experience needed to help you through the entire process. Make sure that you hire someone who knows current market conditions and can simply and effectively explain them to you and your family! … [Read more...]
Why are Existing Home Sales Down?
The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact that the economy is strengthening, unemployment is down, and wages are beginning to rise. This begs the question: “Where are the buyers?” Actually, agents in the field of most communities are still seeing strong desire from prospective … [Read more...]
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