The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts projected earlier this year, it still means millions of people are without work. There’s no way to minimize the tremendous impact this pandemic-induced recession continues to have on many Americans. However, the latest Home Purchase Sentiment Index from Fannie Mae shows how more and more Americans believe the worst is behind us, and their … [Read more...]
Real Estate Continues to Show Unprecedented Strength This Year
The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun, Chief Economist, National Association of Realtors “Home sales continue to amaze, and there are plenty of buyers in the … [Read more...]
How to Prepare for a Bidding War [INFOGRAPHIC]
Some Highlights With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers. From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home. Let’s connect today to be sure you have the guidance you need as the competition for homes heats up this season. … [Read more...]
Do You Need to Know More about Forbearance and Mortgage Relief Options?
Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need. First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners … [Read more...]
The #1 Reason Not to Wait to List Your House for Sale
Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them. Mark Fleming, Chief Economist for First American, just reported: “Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.” Buyer demand is still strong heading into … [Read more...]
Do You Have Enough Money Saved for a Down Payment?
One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down. A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is … [Read more...]
6 Reasons You’ll Win by Selling with a Real Estate Agent This Fall
There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it’s critical to consider the following: 1. Your Safety Is a Priority Your family’s safety should always come first, and that’s more crucial than ever … [Read more...]
Thinking of Moving? [INFOGRAPHIC]
Some Highlights If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you? New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs. Let’s connect today to discuss how to sell your house while buyer demand is high and find you a new home to call your own while you’re at it. … [Read more...]
Should You Buy a Retirement Home Sooner Rather than Later?
Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life. This year, however, the game changed. Many of today’s workers who are nearing the end of their professional careers, but maybe aren’t quite ready to retire, have a new choice to make: should I move before I … [Read more...]
A Homeowner’s Net Worth Is 40x Greater Than a Renter’s
One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they’re so affordable in today’s market. Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, we see that the … [Read more...]
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