Home Price Appreciation Forecast

Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond. We’ve gathered current data from the industry’s most reliable sources to help answer these questions: The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter. Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business … [Read more...]

4 Tips to Sell Your Home Faster

Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be in their new home for the beginning of the school year. If you are one of those sellers, you may find these 4 tips helpful in getting your home sold more quickly. 1. Make buyers feel at home Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make them feel like they belong in this house! According to the Profile of Home Staging by the National Association of … [Read more...]

2 Things You Need to Know to Properly Price Your Home

In today’s housing market, home prices are increasing at a slower pace (3.7%) than they have over the last eight years (6-7%). However, they are still are above historical norms. Low supply of listed homes and high demand from buyers has pushed prices to rise rapidly. In the mind of the homeowner, annual home price appreciation over 6% has become the new normal. This becomes a challenge when a homeowner looks to refinance or sell their home, as the expectation of what the homeowner believes the home should be worth does not always line up with the bank’s appraisal. Every month, the Home Price Perception Index (HPPI) measures the disparity … [Read more...]

What is Really Happening with Home Prices?

Home values have softened over the last twelve months. We are no longer seeing 6-7% annual appreciation levels for the national housing market. The current numbers are closer to 4%. Some have suggested that year-over-year appreciation levels could fall to 3% or less this year. However, a stronger-than-expected economy and a good spring housing market have changed some opinions. Some analysts are now predicting that home value appreciation may begin to increase as we move forward. Here are three examples: Mark Fleming, Chief Economist of First American “Data on the movement of unadjusted house prices during the early spring home-buying season … [Read more...]

4 Tips for Making a Competitive Offer

So, you’ve been searching for that perfect house to call ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure you make a good offer so that you can guarantee that your dream of making this house yours comes true! Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration: 1. Determine Your Price “You’ve found the perfect home and you’re ready to buy. Now what? Your real estate agent will be by your side, helping you determine an offer price that is fair.” Based on your agent’s experience and key considerations … [Read more...]

Your Fabulous New Dream Home is Now Available

Over the last several years, many “baby boomers” have undergone a metamorphosis. Their children have finally moved out and they can now dream about their own future. For many, a change in lifestyle might necessitate a change in the type of home they live in. That two-story, four-bedroom colonial with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. When they decide to travel to be with friends and family, locking up the house is too time-consuming and worrisome. Instead, a nice ranch home with 2-3 bedrooms and two baths might better fulfill their new needs and … [Read more...]

Slaying the Largest Homebuying Myths Today [INFOGRAPHIC]

Some Highlights: The average down payment for first-time homebuyers is only 6%! Mortgage interest rates have been on the decline since November! Hop in now to lock in a low rate! 88% of property managers raised their rents in the last 12 months! The average credit score on approved loans continues to fall across many loan types!  Powered by WPeMatico … [Read more...]

3 Graphs that Show What You Need to Know About Today’s Real Estate Market

The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices! The best way to show what’s really going on in today’s real estate market is to go straight to the data! We put together the following three graphs along with a quote from Chief Economists that have their finger on the pulse of what each graph illustrates. Interest Rates: “The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of … [Read more...]

Is Your House Priced To Sell Immediately (PTSI)?

In today’s real estate market, with more houses coming to market every day and eager buyers searching for their dream home, setting the right price for your house is one of the most important things you can do. According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher. With prices slowing from their previous pace, homeowners must realize that pricing their homes a little OVER market value to leave room for negotiation will actually dramatically … [Read more...]

Want To Increase Your Family’s Wealth? Here’s How!

Everyone should realize that unless you are living somewhere rent-free, you are paying a mortgage – either yours or your landlord’s. Buying your own home provides you with a form of ‘forced savings’ that allows you to use your monthly housing costs to increase your family’s wealth. Every month that you pay your mortgage, you are paying off a portion of the debt that you took on to purchase your home. Therefore, you own a little bit more of your home every month in the form of home equity. As your home’s value increases, you also gain home equity. Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate … [Read more...]