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Latest NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house. Let’s look at the data covered in the latest REALTORS® Confidence Index and Existing Home Sales Report. REALTORS® CONFIDENCE INDEX Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that homebuying demand continued to outpace the supply of homes … [Read more...]

The Mortgage Process: What You Need to Know [INFOGRAPHIC]

Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. You may already qualify for a loan, even if you don’t have perfect credit. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Powered by WPeMatico … [Read more...]

Mortgage Rates on FIRE! Home Prices Up in Smoke?

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop. However, in a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate. Let’s … [Read more...]

80% of Renters Believe Homeownership is a Part of Their American Dream

According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream. The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease. So, what is holding renters back? What would make renters take the plunge? NAR’s Chief Economist, Lawrence Yun believes that, “Housing demand in 2018 will be fueled by more … [Read more...]

2 Ways to Get the Most Money from The Sale of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW  This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below). Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so … [Read more...]

Top 5 Reasons to Hire a Real Estate Professional When Buying or Selling!

Whether you are buying or selling a home it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO.’ The 5 reasons you NEED a real estate professional in your corner haven’t changed but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam. 1. What do you do with all this paperwork? Each state has different regulations regarding the contracts … [Read more...]

Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]

Some Highlights: The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 5.1% by 2019. CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to! Powered by WPeMatico … [Read more...]

Calm Down! The Real Estate Market is NOT Falling Apart

There has been tremendous volatility in certain markets over the last few weeks (for example, the stock and currency markets). When this happens, some tend to lump all of their investments together and create an almost ‘Armageddon’ scenario where everything loses value quickly and dramatically. Real estate is an investment that can get caught up in this hysteria. Does the concern about the current housing market have merit? Financial advisors have been warning us for months that the stock market was ripe for a “correction.” Experts have been questioning the value of alternative currencies for over a year. In contrast, here are the opinions of … [Read more...]

Which Comes First… Marriage or Mortgage?

According to the National Association of REALTORS most recent Profile of Home Buyers & Sellers, married couples once again dominated the first-time homebuyer statistics in 2017 at 57% of all buyers. It is no surprise that having two incomes to save for down payments and contribute to monthly housing costs makes buying a home more attainable. But, many couples are also deciding to buy a home before spending what would be a down payment on a wedding, as unmarried couples made up 16% of all first-time buyers last year. If you’re single, don’t fret! Single women made up 18% of first-time buyers in 2017, while single men accounted for 7% of … [Read more...]

Low Inventory Pushes Home Prices Higher

According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation, “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued … [Read more...]