Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates: “…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago … [Read more...]
Thinking of Selling Your House? Now May be the Right Time
Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very … [Read more...]
Mortgage Rates Fall Below 3% [INFOGRAPHIC]
Some Highlights Mortgage rates hit another all-time low, falling below 3% this week. If you’re ready to buy a home, now is a great time to truly get more for your money at this historic moment. Let’s connect today to determine your best next steps toward homeownership. … [Read more...]
Does Your Home Have What Buyers Are Looking For?
There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com: “Sellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.” For homeowners who need a little nudge … [Read more...]
Mortgage Rates Hit Record Lows for Three Consecutive Weeks
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below): What does this mean for buyers? This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie … [Read more...]
Buyers: Are You Ready for a Bidding War?
With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios. Danielle … [Read more...]
Not All Agents Are Created Equal
In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re ready to sell your house. The right agent is the person who can … [Read more...]
Taking Advantage of Homebuying Affordability in Today’s Market
Everyone is ready to buy a home at a different time in their lives, and a health crisis or not, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down their optimal window of time to make a purchase. There are three main factors that go into determining how affordable homes are for buyers: Mortgage Rates Mortgage Payments as a Percentage of Income Home Prices The National Association of Realtors (NAR), … [Read more...]
Are New Homes Going to Be Available to Buy This Year?
In today’s economy, everyone seems to be searching for signs that a recovery is coming soon. Many experts agree that it may actually already be in motion or will be starting by the 3rd quarter of this year. With the housing market positioned to lead the way out of this recession, builder confidence might be a bright spark that gets the recovery fire started. The construction of new homes coming right around the corner is a huge part of that effort, and it may drive your opportunity to make a move this … [Read more...]
Think You Should For Sale By Owner? Think Again [INFOGRAPHIC]
Some Highlights For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or real estate agent. According to the National Association of Realtors’ Profile of Home Buyers & Sellers, 35% of homeowners who decided to FSBO last year did so to avoid paying a commission or fee. But, homes sold with an agent net 6% more than those sold as a FSBO according to Collateral Analytics. Before you decide to take on the challenge of … [Read more...]
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