Some Highlights: Whether capitalizing on job opportunities, affordability, or warm-weather places to retire, Americans are making moves to these top cities to take advantage of the strength in the current housing market. A strong economy and lower mortgage rates have made it easier for many would-be buyers to get into the market. According to realtor.com, it just depends on which market. To find the top market in our area, let’s get together. … [Read more...]
Housing Inventory Vanishing: What Is the Impact on You?
The real estate market is expected to do very well this year as mortgage rates remain at historic lows. One challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report showing that 2020 is beginning with the lowest available housing inventory in two years. The report explains: “Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to … [Read more...]
Homes Are More Affordable Today, Not Less Affordable
There’s a current narrative that owning a home today is less affordable than it has been in the past. The reason some are making this claim is because house prices have substantially increased over the last several years. It’s not, however, just the price of a home that matters. Homes, in most cases, are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by over a full percentage point since December 2018. Another major … [Read more...]
2020 Luxury Market Forecast
By the end of last year, many homeowners found themselves with more equity than they realized, and at the same time their wages were increasing. When those two factors unite, it can spark homeowners to think about making a move to a larger or more expensive home in the luxury space. That said, now is a perfect opportunity to take a look at the forecast for the 2020 luxury market. Three Things to Think About in the 2020 Luxury Housing Market 1. Prices The U.S. economy is strong today, with buying opportunities … [Read more...]
The New Spring Real Estate Market is Here. Are You Ready?
Which month do you think most people who are considering buying a home actually start their search? If you’re like most of us, you probably think the surge happens in the spring, likely in April. Not anymore. According to new research, January 2019 was only 1% behind February for the most monthly views per listing on realtor.com. So, what does that mean? The busiest season in real estate has just begun. The same research indicates, “Historically, April launched the kickoff of the home shopping season … [Read more...]
Big Demand for Small Homes
Movies, tv shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different. Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This is not projected to change as we continue into the beginning of the year. “We expect this downsizing trend to continue in 2020, driven by a confluence of economic and demographic trends.” Why are smaller homes trending now? As noted in the article, there are a few … [Read more...]
3 Benefits to Buying Your Dream Home This Year
Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting. 1. Buying a Home is a Great Investment Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report, “U.S. homeowners with mortgages … [Read more...]
The 2020 Real Estate Projections That May Surprise You
This will be an interesting year for residential real estate. With a presidential election taking place this fall and talk of a possible recession occurring before the end of the year, predicting what will happen in the 2020 U.S. housing market can be challenging. As a result, taking a look at the combined projections from the most trusted entities in the industry when it comes to mortgage rates, home sales, and home prices is incredibly valuable – and they may surprise you. Mortgage Rates Projections from … [Read more...]
Expert Insights on the 2020 Housing Market
When closing out another year, it’s normal to wonder what’s ahead for the housing market. Though there will be future inventory issues, we expect interest rates to stay low and appreciation to continue. Here’s what three experts are saying we’ll likely see in 2020: Danielle Hale, Chief Economist at realtor.com “I think the biggest surprise from the forecast is how long the market is staying in this low inventory environment, especially as Millennials are in a major home-buying … [Read more...]
Working with a Local Real Estate Professional Makes All the Difference [INFOGRAPHIC]
Some Highlights: Choosing the right real estate professional is one of the most impactful decisions you can make in your home buying or selling process. A real estate professional can explain current market conditions and break down what they will mean to you and your family. If you’re considering buying or selling a home in 2020, make sure to work with someone who has the experience to answer all of your questions about pricing, contracts, and negotiations. … [Read more...]
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