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Mortgage Rates on FIRE! Home Prices Up in Smoke?

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year. What impact will rising rates have on house values? Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will [...]

By | 2018-02-22T05:00:10+00:00 February 22nd, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing|Comments Off on Mortgage Rates on FIRE! Home Prices Up in Smoke?

2 Ways to Get the Most Money from The Sale of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive the maximum value for your house? Here are two keys to ensure that you get the highest price possible. 1. Price it a LITTLE LOW  This may seem counterintuitive, but let’s look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation. In actuality, this just dramatically lessens [...]

By | 2018-02-20T05:00:40+00:00 February 20th, 2018|For Sellers, FSBOs, Move-Up Buyers, Pricing, Selling Myths|Comments Off on 2 Ways to Get the Most Money from The Sale of Your Home

Should I Wait Until Next Year to Buy? Or Buy Now? [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 5.1% by 2019. CoreLogic predicts home prices to appreciate by 4.3% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

By | 2018-02-16T05:00:01+00:00 February 16th, 2018|First Time Home Buyers, For Buyers, Infographics, Interest Rates, Millennials, Move-Up Buyers, Pricing|Comments Off on Should I Wait Until Next Year to Buy? Or Buy Now? [INFOGRAPHIC]

Low Inventory Pushes Home Prices Higher

According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase. Dr. Frank Nothaft, Chief Economist for CoreLogic, gave insight into the reason behind the large appreciation, “The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence [...]

By | 2018-02-13T05:00:02+00:00 February 13th, 2018|First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Pricing|Comments Off on Low Inventory Pushes Home Prices Higher

Bidding Wars Abound… How Long Will They Continue?

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season is just around the corner. CoreLogic recently conducted an analysis on national home prices at the time of sale for their January 2018 MarketPulse [...]

By | 2018-02-01T05:00:55+00:00 February 1st, 2018|For Buyers, For Sellers, Move-Up Buyers, Pricing|Comments Off on Bidding Wars Abound… How Long Will They Continue?

What Impact Will the New Tax Code Have on Home Values?

Every month, CoreLogic releases its Home Price Insights Report. In that report, they forecast where they believe residential real estate prices will be in twelve months. Below is a map, broken down by state, reflecting how home values are forecasted to change by the end of 2018 using data from the most recent report. As we can see, CoreLogic projects an increase in home values in 49 of 50 states, and Washington, DC (there was insufficient data for HI). Nationwide, they see home prices increasing by [...]

By | 2018-01-24T09:45:18+00:00 January 24th, 2018|First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing|Comments Off on What Impact Will the New Tax Code Have on Home Values?

Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 4% or more over the next twelve months. One major challenge in such a market is the bank appraisal. When prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank. Every month [...]

By | 2018-01-24T05:00:37+00:00 January 24th, 2018|For Sellers, Move-Up Buyers, Pricing|Comments Off on Gap Between Homeowners & Appraisers Narrows to Lowest Mark in 2 Years