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New Home Sales Up 12.7% From Last Year

According to the latest New Residential Sales Report from the Census Bureau, new construction sales in August were up 3.5% from July and 12.7% from last year! This marks the second consecutive month with double-digit year-over-year growth (12.8% in July). The report also showed that builders have ramped up construction with an increase in new construction starts and completions. The summer months are often a busy time for builders as they capitalize on the warmer weather to be able to finish projects. Below is a [...]

By |2018-10-10T04:00:44+00:00October 10th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, New Construction, Pricing|Comments Off on New Home Sales Up 12.7% From Last Year

What’s Going On With Home Prices?

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year. CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change, “The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of [...]

By |2018-10-09T04:00:04+00:00October 9th, 2018|First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Pricing|Comments Off on What’s Going On With Home Prices?

The True Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence. Realtor.com reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.” What proof exists [...]

By |2018-10-08T04:00:05+00:00October 8th, 2018|First Time Home Buyers, For Buyers, Move-Up Buyers, Rent vs. Buy|Comments Off on The True Cost of NOT Owning Your Home

Are We About to Enter a Buyers’ Market?

Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening? The market has definitely softened. However, according to two chief economists in the industry, we are a long way from a market that totally favors the purchaser: Dr. Svenja Gudell, Zillow Chief Economist: “These seller [...]

By |2018-10-04T04:00:32+00:00October 4th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers|Comments Off on Are We About to Enter a Buyers’ Market?

2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling

When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with interest rates & inventory. Interest Rates Mortgage interest rates have been on the rise and are now over three-quarters of a percentage point higher [...]

By |2018-10-03T04:00:12+00:00October 3rd, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers, Pricing|Comments Off on 2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling

Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year. In addition to the predictions from the four major reporting agencies mentioned above, the Federal Open Market Committee recently voted “unanimously to approve a 1/4 percentage point increase in the primary credit rate to 2.75 percent.” Historically, an increase in the [...]

By |2018-10-02T04:00:47+00:00October 2nd, 2018|First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers|Comments Off on Mortgage Interest Rates are Still Going Up… Should You Wait to Buy?

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 5.2% by the third quarter of 2019. CoreLogic predicts home prices to appreciate by 5.1% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

By |2018-09-28T04:00:13+00:00September 28th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Millennials, Move-Up Buyers, Pricing|Comments Off on Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC]

Are Home Prices Softening or Are They Falling?

We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on home values. Many of these headline writers will confuse “softening home prices” with “falling home prices,” but there is a major difference between the two. The data will begin to show that home values are [...]

By |2018-09-27T04:00:37+00:00September 27th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on Are Home Prices Softening or Are They Falling?

The Cost of NOT Paying PMI

Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, to the home-buying process. So, if you can purchase a home with less than a 20% down payment… why aren’t more people doing just that? One Possible Answer: Private [...]

By |2018-09-26T04:00:43+00:00September 26th, 2018|Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers|Comments Off on The Cost of NOT Paying PMI

Where Are Mortgage Interest Rates Headed In 2019?

The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next year. How Will This Impact Your Mortgage Payment? Depending [...]

By |2018-09-25T04:00:55+00:00September 25th, 2018|First Time Home Buyers, For Buyers, For Sellers, Interest Rates, Move-Up Buyers|Comments Off on Where Are Mortgage Interest Rates Headed In 2019?