- 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.
As 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.Read More
We 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.Read More
Just 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.Read More
Just 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.Read More
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…
The 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:Read More
Fannie 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:Read More
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.
The 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.Read More
With 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.Read More
TransUnion 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.Read More
It 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.Read More
Sales in December were 14.7% higher than those in November, marking the largest month-over-month increase ever recorded.
Inventory levels are still below historic norms at 3.9-months supply.
Median home price is up 7.6% from last yea…
Every agent brings a different set of skills & specialties to their clients.
It is important to find an agent who you can trust to guide you through the entire process step-by-step.
Having a conversation about your goals & ex…
Every three years the Federal Reserve conducts a Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).Read More
Checkers is a simple game with a simple objective; eliminate the other player’s pieces. Even the process of doing so is simple, jump the other player’s pieces and start a collection. There is very little thought as to a defensive strategy and it is often more reactive than strategic.Read More