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Is the Real Estate Market Finally Getting Back to Normal?

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey: After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually. These wild swings in values were caused by abnormal ratios between the available supply of inventory [...]

By |2018-09-20T04:00:16+00:00September 20th, 2018|For Buyers, For Sellers, Housing Market Updates|Comments Off on Is the Real Estate Market Finally Getting Back to Normal?

25% of Homes with a Mortgage are Now Equity Rich!

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position. Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down [...]

By |2018-09-19T04:00:12+00:00September 19th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on 25% of Homes with a Mortgage are Now Equity Rich!

If You Are Thinking of Selling? You Must Act NOW!

If you thought about selling your house this year, now more than ever may be the time to do it! The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned about the concept of supply and demand, so we understand that the best time to sell something is when the supply of that item is low and demand for that item is high. That defines today’s real estate market. Lawrence Yun, Chief Economist at the National [...]

By |2018-09-17T04:00:20+00:00September 17th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on If You Are Thinking of Selling? You Must Act NOW!

Are Homebuyers Starting to Hit the ‘Pause’ Button?

For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012. With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand may be softening. Here are the four indices, how they measure demand (methodology), what their latest reports said, and a quick synopsis of the report. The Foot Traffic Report [...]

By |2018-09-13T04:00:22+00:00September 13th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Are Homebuyers Starting to Hit the ‘Pause’ Button?

Home Prices Have Appreciated 6.9% in 2018

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey. Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year. The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course [...]

By |2018-09-12T04:00:03+00:00September 12th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Home Prices Have Appreciated 6.9% in 2018

NAR Reports Show It’s A Great Time to Sell!

We all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the National Association of Realtors (NAR) revealed information that suggests that right now continues to be a great time to sell your house. Let’s look at the data covered in the latest Pending Home Sales Report and Existing Home Sales Report. THE PENDING HOME SALES REPORT The report announced that pending home sales (homes going into [...]

By |2018-09-11T04:00:27+00:00September 11th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on NAR Reports Show It’s A Great Time to Sell!

What Does the Future Hold for Home Prices?

Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market. The Impact of Rising Interest Rates We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and [...]

By |2018-09-06T04:00:39+00:00September 6th, 2018|For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing|Comments Off on What Does the Future Hold for Home Prices?

Why are Existing Home Sales Down?

The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact that the economy is strengthening, unemployment is down, and wages are beginning to rise. This begs the question: “Where are the buyers?” Actually, agents in the field of most communities are still seeing strong desire from prospective purchasers. They have a list [...]

By |2018-08-30T04:00:24+00:00August 30th, 2018|For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Why are Existing Home Sales Down?

Top 3 Myths About Today’s Real Estate Market

There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage. Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on. Myth #1: [...]

By |2018-08-29T04:00:30+00:00August 29th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Top 3 Myths About Today’s Real Estate Market

Home Sales Expected to Continue Increasing in 2019

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019. As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

By |2018-08-28T04:00:51+00:00August 28th, 2018|For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Home Sales Expected to Continue Increasing in 2019