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Home Sales Up Year-Over-Year

Some Highlights

  • This is the 48th consecutive month with year-over-year price gains.
  • Lawrence Yun, NAR’s Chief Economist says that, “The main issue continues to be a supply & affordability problem. Finding the right property at an affordable price is burdening many potential buyers.”
  • Inventory is still below historic normals at a 4.4 month supply.
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Further Proof This Isn’t a Housing Bubble

Further Proof This Isn’t a Housing Bubble | Simplifying The MarketTwo weeks ago, we posted a blog which explained that current increases in home prices were the result of the well-known concept of supply & demand and should not lead to conversations of a new housing bubble. Today, we want to look at home prices as compared to current incomes.

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91.5% of Homes in the US have Positive Equity

91.5% of Homes in the US have Positive Equity | Simplifying The MarketCoreLogic’s latest Equity Report revealed that one million borrowers regained equity in their homes in 2015. The outlook for 2016 remains positive as well, as an additional 850,000 properties would regain equity if home prices rose another 5% this year. 

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The Importance of Using an Agent To Sell Your House

The Importance of Using an Agent To Sell Your House | Simplifying The MarketWhen a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.

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3 Charts That Scream ‘List Your Home Today’

3 Charts That Scream ‘List Your Home Today’ | Simplifying The MarketIn school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

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Lack of Inventory Challenging Many Housing Markets

Lack of Inventory Challenging Many Housing Markets | Simplifying The MarketGoing into the 2016 spring market, the biggest challenge the real estate industry has is the lack of available housing inventory for sale. Here are a few experts and their thoughts on the subject:

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The Main Reason to Use a Real Estate Professional when Selling Your House

The Main Reason to Use a Real Estate Professional when Selling your House | Simplifying The MarketEvery homeowner hopes to accomplish five goals when selling their home:

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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.
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The Difference An Hour Makes This Spring [INFOGRAPHIC]

Some Highlights:

  • Sunday, March 13th, we “Spring Forward” one hour for Daylight Savings Time (except for our friends in AZ).
  • Every hour in the United States, 624 homes will sell and 118 homes will regain positive equity.
  • The median home value will also increase each hour in the United States by $1.84.
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What If I Wait Until Next Year To Buy A Home?

What If I Wait Until Next Year To Buy A Home? | Simplifying The MarketAs a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first-time or repeat buyer, you must not be concerned only about price but also about the ‘long term cost’ of the home.

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Gap Between Homeowner’s & Appraiser’s Opinions Widen

Gap Between Homeowner’s & Appraiser’s Opinions Widen | Simplifying The MarketIn today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.

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Home Is Where The Heart Is

Home Is Where The Heart Is | Simplifying The MarketYesterday, we discussed the reasons why homeownership makes sense, financially. Today we wanted to touch on the emotional or ‘real’ reasons that many Americans strive to become homeowners. 

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Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming

Yes, Home Prices Are Rising. No, a New Housing Bubble is NOT Forming | Simplifying The MarketWe recently reported that home prices are continuing to rise across most of the nation. This has created concern in some pundits that a housing bubble, like we saw ten years ago, is forming again. We want to explain why these concerns are unfounded.

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Housing Market To “Spring Forward” This Year

Housing Market To “Spring Forward” This Year | Simplifying The MarketJust like our clocks this weekend in the majority of the country, the housing market will soon “spring forward!” Similar to tension in a spring, the lack of inventory available for sale in the market right now is what is holding back the market.

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Mortgage Rates Again at Historic Lows

Mortgage Rates Again at Historic Lows | Simplifying The MarketJust two weeks ago, we posted an article discussing where mortgage interest rates may be heading over the next twelve months. We quoted projections from Fannie Mae, Freddie Mac, the Mortgage Bankers’ Association and the National Association of Realtors. Each predicted that rates would begin to rise slowly and steadily throughout 2016.

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Existing Home Sales Inch Up In January [INFOGRAPHIC]

Some Highlights:

Existing Home Sales rose to an annual rate of 5.47 million, representing an 11% increase year-over-year.
Inventory levels remain below the 6-month supply needed for a normal market at a 4.0-month supply.
Lawrence Yun, NAR’s Chief Ec…

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Low Inventory Causes Home Prices to Accelerate

Low Inventory Causes Home Prices to Accelerate | Simplifying The MarketThe National Association of Realtors (NAR) released their latest Quarterly Metro Home Price report earlier this month. The report revealed that home prices are not only continuing to rise but that the increases are accelerating. Lawrence Yun, Chief Economist at NAR, discussed the impact of low inventory on buyers in the report:

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What Do You Actually Need to Get a Mortgage?

What Do You Actually Need to Get a Mortgage? | Simplifying The MarketFannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways:

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Should I Buy Now Or Wait Until Next Year? [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 4.8% by next year.
CoreL…

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Existing Home Sales Rebound in December

Existing Home Sales Rebound in December | Simplifying The MarketThe National Association of Realtors (NAR) just released their latest Existing Home Sales Report on Friday. Sales of existing homes rose by the largest increase ever recorded as they rebounded 14.7% over November’s numbers and now stand at 7.7% higher than a year ago.

While this is great news for the housing market, let’s take a look at one of the main reasons why there was such a large increase in sales.

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Where Are Interest Rates Headed This Year?

Where Are Interest Rates Headed This Year? | Simplifying The MarketWith interest rates still below 4%, many buyers may be on the fence as to whether to act now and purchase a new home, or wait until next year.

If you look at what the four major reporting agencies are predicting for 2016, it may make the decision for you. The chart below averages the predictions by quarter.

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A Million+ Boomerang Buyers about to Enter Market

A Million+ Boomerang Buyers about to Enter Market | Simplifying The MarketTransUnion recently released the results of a new study titled The Bubble, the Burst and Now – What Happened to the Consumer? The study revealed that 1.5 million homeowners that were negatively impacted by the housing crisis could re-enter the housing market in the next three years.

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14,986 Homes Sold Yesterday… Did Yours?

14,986 Homes Sold Yesterday... Did Yours? | Simplifying The MarketThere are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet, maybe it’s not priced properly.

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Thinking of Selling? Why Now May Be The Time

Thinking of Selling? Why Now May Be The Time | Simplifying The MarketIt is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year.

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