Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier. An article from Bankrate explains:“Home equity is the difference between your home's value and the amount you still owe on your mortgage. It represents the paid-off portion of your home.You'll start off with a certain level of equity when you make your down payment to buy the home, then continue … [Read more...]
Why Pre-Approval Is Even More Important This Year
On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024.What Pre-Approval IsAs part of the homebuying process, your lender will look at your finances to figure out what they’re willing to loan you. According to Investopedia, this includes things like your W-2, tax returns, credit score, bank statements, and more.From there, they’ll give you a pre-approval letter to help you … [Read more...]
Houses Are Still Selling Fast
Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or … [Read more...]
Why Having Your Own Agent Matters When Buying a New Construction Home
Finding the right home is one of the biggest challenges for potential buyers today. Right now, the supply of homes for sale is still low. But there is a bright spot. Newly built homes make up a larger percent of the total homes available for sale than normal. That’s why, if you’re craving more options, it makes sense to see if a newly built home is right for you.But it’s important to remember the process of working with a builder is different than buying from a homeowner. And, while builders typically have sales … [Read more...]
There’s No Foreclosure Wave in Sight [INFOGRAPHIC]
Some HighlightsHeadlines saying foreclosures are rising might make you feel uneasy. But the truth is, there’s no need to worry.If you look at the latest numbers, they’re still below pre-pandemic norms and way below what happened during the crash.If you're worried about a flood of foreclosures, the data shows a foreclosure crisis is not where the market is today and is not where it’s headed. … [Read more...]
Don’t Wait Until Spring To Sell Your House
As you think about the year ahead, one of your big goals may be moving. But, how do you know when to make your move? While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why.1. Take Advantage of Lower Mortgage RatesLast October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving … [Read more...]
Foreclosure Activity Is Still Lower than the Norm
Have you seen headlines talking about the increase in foreclosures in today’s housing market? If so, they may leave you feeling a bit uneasy about what’s ahead. But remember, these clickbait titles don’t always give you the full story.The truth is, if you compare the current numbers with what usually happens in the market, you’ll see there’s no need to worry.Putting the Headlines into PerspectiveThe increase the media is calling attention to is misleading. That’s because they’re only comparing the most recent … [Read more...]
2 of the Factors That Impact Mortgage Rates
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.Inflation and the Federal ReserveThe Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down … [Read more...]
Will a Silver Tsunami Change the 2024 Housing Market?
Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market.What Does Silver Tsunami Mean?A recent article from HousingWire calls it:“. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”The thought is that as baby boomers grow older, a significant number will start downsizing … [Read more...]
Why It’s More Affordable To Buy a Home This Year [INFOGRAPHIC]
Some HighlightsHome affordability depends on three factors: mortgage rates, home prices, and wages.Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual.That’s good news if you want to buy a home because it means affordability is getting better. … [Read more...]
- « Previous Page
- 1
- …
- 26
- 27
- 28
- 29
- 30
- …
- 230
- Next Page »
