According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing…
Are you thinking about making a move? If so, now may be the perfect time to start the process. That’s because experts say the best week to list your house is just around the corner. A recent Realtor.com study looked at housing market trends over the past several years (with the exception of 2020, since it was an unusual…
Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does…
If you’re trying to buy a home and are having a hard time finding one you can afford, it may be time to consider a fixer-upper. That’s a house that needs a little elbow grease or some updates, but has good bones. Fixer-uppers can be a really great option if you’re looking to break into the housing market or…
There’s a lot of confusion in the market about what’s happening with day-to-day movement in mortgage rates right now, but here’s what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall. And if you’re looking to buy or sell a home, this is a big deal. While they’re going to continue…
Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true. The simplest answer is: that what you read or hear…
Have you ever heard the term “Silver Tsunami” and wondered what it’s all about? If so, that might be because there’s been lot of talk about it online recently. Let’s dive into what it is and why it won’t drastically impact the housing market. What Does Silver Tsunami Mean? A recent article from HousingWire calls it: “. . .…
If you’re trying to decide whether to rent or buy a home this year, here’s a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth…
If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as…
If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market in 2024. In 2023, higher mortgage rates, confusion over home price headlines, and a lack of homes for sale created some challenges for buyers and sellers looking to make a move. But what’s on the horizon for the new year? The…
If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options. But you may also be wondering, once you sell, how does the current supply impact your own move? And, will you be able…
If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a…
If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and…
When it comes to selling your house, you’re probably trying to juggle the current market conditions and your own needs as you plan your move. One thing that may be working in your favor is how few homes there are for sale right now. Here’s what you need to know about the current inventory situation and what it means for…
During the pandemic, many people distanced themselves from their loved ones for health reasons. Grandparents were told to stay away from their grandkids, especially as schools started to open. That’s because it would have been risky to visit with their grandchildren who may have gotten sick from school. Now that the pandemic has passed, many grandparents want…
Buying and owning your own home can have a big impact on your life. While there are financial reasons to become a homeowner, it’s essential to think about the non-financial benefits that make a home more than just a place to live. Here are some of the top non-financial reasons to buy a home. According to Fannie Mae,…
Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it. The ShowingTime Showing Index is a measure of buyers touring…
Generation Z (Gen Z) is eager to put down their own roots and achieve financial independence. As a result, they’re turning to homeownership. According to the latest Home Buyers and Sellers Generational Trends Report from the National Association of Realtors (NAR), 30% of Gen Z buyers transitioned straight from living under their parents’ roofs to…
Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you…
While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month…
If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. While a short-term rental can…
Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You’re not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory. That means…
Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: 1) Why Are Mortgage Rates So High? 2)…
During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts: Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business: “I expect housing prices fall 10% to 15%, and the housing prices are accelerating…
If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren’t in a freefall. The latest data tells a very…
If you’re a homeowner thinking about making a move, you may wonder if it’s still a good time to sell your house. Here’s the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps…
If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy.…
We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your…
Throughout Women’s History Month, we reflect on the impact women have in our lives, and that includes impact on the housing market. In fact, since at least 1981, single women have bought more homes than single men each year, and they make up 17% of all households. Why Is Homeownership So Important to Women?The rise…
Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains:“. . . some of the more prominent pandemic trends have changed, so sellers might…
Many people are reaching the point in their lives when they need to decide where they want to live when they retire. If you’re a homeowner approaching this stage, you have several options to explore. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of Realtors (NAR), says: “As we…
Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what…
As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In…
Q.ai – Powering a Personal Wealth Movement Contributor Making wealth creation easy, accessible and transparent. Key Takeaways *Just because there’s a recession doesn’t necessarily mean rent prices go down. In fact, during the 2008 recession, it was the exact opposite. *In the current rental market, we have seen the…
If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus. In the last year, high inflation had a big impact on the economy, the…
WRITTEN BY STEVEN THOMAS HOUSING DATA ILLUSTRATES THAT THERE IS NOT A HOUSING CRASH ON THE HORIZON DESPITE THE CURRENT SLOWDOWN AND HOME VALUES FALLING. NOT THE GREAT RECESSION WITH A VERY LIMITED INVENTORY OF AVAILABLE HOMES COUPLED WITH OVER A DECADE OF TIGHT LENDING STANDARDS, HOUSING VALUES WILL NOT NOSEDIVE LIKE THEY DID DURING…
With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s. One of the reasons this isn’t…
This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power…
With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s…
Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022…
Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans. The Impact of Rising Mortgage RatesAs mortgage rates rise, they…
While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were…
If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow? As you think about your homeownership goals and decide if now’s the time to…
If you’re a homeowner or are planning to become one soon, you’re probably looking for clear information about today’s housing market. And if you’ve turned to the news or even just read headlines recently, you might feel like you’re left with more questions than answers. The best way to make sure you get what you…
According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a…
NAR president Leslie Rouda Smith on the negative impact of requiring homebuyers to pay their brokers’ commission at closing August 8, 2022, 3:59 pm By Leslie Rouda Smith Critics argue that prospective homebuyers should pay real estate agents directly out of pocket — as opposed to the more common practice of the listing broker paying…
With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is,…
If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means…
Defining the American dream is personal, and no one individual will have the same definition as another. But the feelings it brings about – success, freedom, and a sense of prosperity – are universal. That’s why, for many people, homeownership remains a key part of the American dream. Your home is your stake in the…
Experts in the real estate industry use a number of terms when they talk about what’s happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what’s happening with home prices and where experts say they’re going, here’s a look at a few terms…
Are you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there’s something you should know. The number of homes coming onto the market is increasing and that could make it easier for you to…
Because buying or selling a home is such a big decision in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert, you’ll get the best advice for your situation. An Expert Will Give You the Best…
If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise,…
If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to…
Since the number of homes for sale is low today, it can feel challenging to find one that checks all your boxes. But if you know which features are absolutely essential in your next home and which ones are just nice bonuses, you can land a home that fits your needs. Danielle Hale, Chief Economist…
The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today,…
As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get started so you’re not…
Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential. Today’s housing market is full of extremes. Experts…
February 25, 2022 With housing inventory at an all-time low, contract signings decreased 5.7% month over month in January—the third consecutive month for a drop, the National Association of REALTORS® reported Friday. NAR’s Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, is down 9.5% compared to a year earlier.…
When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s…
Over the past two years, we’ve lived through one of the most stressful periods in recent history. Because of the health crisis, many of us have spent more time at home and that’s led us to re-evaluate both what we need in a house and how much we appreciate having a safe space. If you’ve…
As you plan out your goals for the year, moving up to your dream home may top the list. But, how do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know…
As we wrap another crazy year for real estate, there’s one big question on everyone’s minds right now: will the 2022 housing market continue to follow the same trajectory, or are we facing a possible downturn? In today’s market, the most powerful tool you have to beat your competition is knowledge. So, let’s take a…
To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things: mortgage…
If you’re trying to decide when to sell your house, there may not be a better time than this winter. Selling this season means you can take advantage of today’s strong sellers’ market when you make a move. Win When You SellRight now, conditions are very favorable for current homeowners looking for a change. If…
December 2, 2021The latest COVID-19 variant—omicron—has spawned new health and economic concerns, and it could have an impact on the residential and commercial market. News outlets reported on Wednesday that a case involving the omicron variant was identified in San Francisco. There has also been a reported case in Minnesota. New fears over the omicron…
Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year. If you’re looking for the best ways…
Homeownership has always been the first rung on the ladder leading to household wealth. As Freddie Mac recently posted: “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through…
November 3, 2021 About half of homeowners who have moved since the pandemic cited crime and safety as the most important factor in deciding where to move to, according to a new survey of 1,000 consumers commissioned by Redfin. The crime and safety of an area was even more important factor than the cost of…
Some Highlights If you’re a homeowner, today’s rising equity is great news. On average, homeowners have gained $51,500 in equity since this time last year. Whether it’s funding an education, fueling your next move, or starting a business, your home equity is a great tool you can use to power…
Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve…
Southern California is one of the most desirable places to live in the United States. But which SoCal neighborhoods make up the cream of the crop? This article lists the 10 best neighborhoods to live in Southern California in 2021. From bustling cities to beach towns, Southern California has some of the best neighborhoods in…
Foreclosure Starts Increase 27 Percent from Last Month; While Completed Foreclosures Increase 22 Percent from Last Year by ATTOM Staff | Sep 9, 2021 | Foreclosures, Most Recent Articles IRVINE, Calif. — September 9, 2021 — ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac (www.realtytrac.com), the largest online marketplace…
It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the…
When you hear the phrase home price appreciation, what does it mean to you? Through context clues alone, chances are you know it has to do with rising home prices. And as a seller, you know rising home prices are good news for your potential sale. But let’s look past the dollar signs and dive…
July 29, 2021 According to our 2021 mid-year forecast, despite the major housing supply shortage and historically high house prices across the U.S., the housing market is expected to remain strong through the end of 2021. Two key factors supporting housing market activity are low interest rates and the recovering labor market. Whether you’re a…
Temperatures are soaring. So is your power bill. Keep your home cooler this summer, and boost your air conditioning efficiency, with a few simple tips. SUNSET STAFF – July 12, 2021 If you’re reading this, you’re probably hot. So hot that you’ve taken to the internet to figure out how to keep your house cool,…
July 6, 2021 According to a Trip Advisor survey from this spring, more than two-thirds of Americans said they plan to travel during this summer. Investors are discovering greater interest in their short-term vacation rentals, and business is booming. Occupancy rates surged 21% in May compared to pre-pandemic levels from May 2019, according to AirDNA,…
June 28, 2021 When there is so much noise swirling around housing, it is a good idea to take a step back and focus on thetrends. Top 5 Housing TrendsWith nearly half of 2021 in the rearview mirror, there are noticeable trends that have developed. It seems as if everyone has an opinion about…
June 22, 2021 Limited housing supply and strong buyer demand caused existing-home sales to drop for the fourth consecutive month, falling 0.9% in May, the National Association of REALTORS® reported Wednesday. Still, sales were up 44.6% year over year, according to NAR. The median price for an existing home reached $350,300. “Home sales fell moderately…
If you’re ready to buy a new home and struggling to find something you like, chances are you’re wondering, “When will the housing shortage be over?” – and you’re not alone. It’s not just a California housing shortage, the entire country is experiencing extremely low inventory on the real estate market. The housing market has…
Today’s housing market is fiercely competitive, and bidding wars on for-sale properties are not uncommon. If you want your offer accepted, there are a few steps you can take to put the odds in your favor. What to know before you enter a bidding warBidding wars typically occur in a seller’s market, when there are…
It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month. In…
Buying what is considered a second home before purchasing the more conventional first is beginning to appeal to some renters. Those in metro areas are watching the red hot housing market and may be interested in a place of their own. With remote work trending, they can take advantage of the opportunity to spread out…
April 9, 2021 Melissa Dittmann Tracey The COVID-19 pandemic has caused a mass disruption to the way people live and work and prompted sweeping economic fallout felt throughout the world. Global leaders are still coming to grips with the long-term impact to the real estate industry. COVID-19 has accelerated many existing trends, including digitalization, dispersed…
The pandemic may be shifting consumer preferences about what makes the best investment. A new study from the Federal Reserve Bank of New York asked respondents to rate which is a better investment: a home or a financial asset such as stocks? Ninety percent of respondents chose owning a primary residence over investing in the…
Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares:“Since January, mortgage rates have increased half…
To find out if now is the time to buy, check out this week’s mortgage highlights:Mortgage rates continued to move slowly upward as current economic conditions and the outlook for future economic growth continue to improve.With the passage of the next round of stimulus, some experts are expressing growing concern for future inflation. However, core…
February 25, 2021 Sales of newly built, single-family homes in January moved 19% higher than a year ago, as home buyers sought more options under a lean number of existing homes for sale. Newly built single-family home sales increased 4.3% last month over December 2020, reaching a seasonally adjusted annual rate of 923,000, the U.S.…
Even though nominal house prices continued to surge, affordability improved in November as two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of increased affordability. Real house prices declined by 6.2 percent relative to one year ago, thanks to the benefit of increased…
When it comes to a new home, house hunters apparently want to hear more about the eco-friendly components and designs. Energy efficiency is a primary driver in homebuyer preferences for a new home, according to newly released research of 3,000 home buyers from the National Association of Home Builders, presented Thursday during its virtual 2021…
WASHINGTON (January 22, 2021) – Existing-home sales rose in December, with home sales in 2020 reaching their highest level since 2006, according to the National Association of Realtors®. Activity in the major regions was mixed on a month-over-month basis, but each of the four areas recorded double-digit year-over-year growth in December. Total existing-home sales,1 https://www.nar.realtor/existing-home-sales,…
California housing market ends year on high note as sales continue strong in December and median price reaches another record high, C.A.R. reports – Existing, single-family home sales totaled 509,750 in December on a seasonally adjusted annualized rate, up 0.2 percent from November and up 28 percent from December 2019.– December’s statewide median home price…
There were many lessons learned in 2020. For example, there is no such thing as too much toilet paper. While there were a lot of moments that we’d rather forget, there were also many that will have a lasting impact on how we approach real estate and our businesses for years to come. Let’s take…
Intimidated by those New Year’s design resolutions? For help taking on her 2021 to-do list, columnist Michelle Slatalla turned to experts in the very human weakness of procrastination. BY MICHELLE SLATALLA | ORIGINALLY PUBLISHED ON DECEMBER 28, 2020 | THE WALL STREET JOURNAL MY FATHER was known for his daily lists. Every year on Dec.…
CoreLogic released its 2020 3rd Quarter Homeowner Equity Insights report, which reveals U.S. homeowners with mortgages have seen their equity increase by a total of $1 trillion since the third quarter of 2019! 🤩 💰The average homeowner gained approximately $17,000 in equity over the past year, with a 10.8% increase in equity over last year.…
While the economy faces challenges from the coronavirus pandemic, the housing market has continued to show strength. According to our recent quarterly Forecast, today’s housing market is characterized by record-low mortgage rates, increased home sales and price growth and constrained inventory. But what exactly does this mean? Here are a few terms you should become…
by First Team Real Estate | Nov 18, 2020 | Real Estate News, Selling California just passed Proposition 19, transforming tax breaks for thousands of homeowners across the state, hopefully unlocking opportunities for growth and much-needed change. The exemption is expected to help fuel home sales by encouraging those who have been reluctant to move…
By Clare Trapasso | Nov 7, 2020 It was a knock-down, drag-out fight that polarized much of the nation in the months—all right, years—leading up to Election Day, as well as over the last few nail-biting days after the election as ballots across the country continued to be counted. But former Vice President Joe Biden…
Anyone in the market to buy or sell a home knows the adage “location, location, location” determines value in a real estate sale. As with so much else in 2020, it’s clear this idea is being challenged. As the impact of Covid-19 puts pressure on everyone, many want to know if it’s a good time…
Published: Oct. 23, 2020 at 8:59 a.m. ETBy Jacob Passy As the pandemic continues, the risk of a prolonged economic downturn could cause some buyers to rethink making a big purchase, especially given rising home prices Despite the pandemic, existing-home sales increased for the fourth consecutive month in September, dwindling the number of homes on…
In today’s market, it’s important to make a competitive offer once you’ve found the right home. Our latest forecast shows that while the housing market has remained strong during the pandemic, in large part driven from today’s historically low interest rates, housing supply has not caught up to high demand. With strong competition, you’ll want…
Remember when finding a home close to your office, in a trendy neighborhood, or zoned to a specific school district was a top priority? These days, things are different. In this post-pandemic world, the classic real estate motto of “location, location, location” is no longer what’s driving buyers. Now, it’s all about “deal, deal, deal”…
Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels. This is largely because the economic distress from the pandemic has created…
7 ways to make your backyard or patio feel like an oasis during quarantine. The past seven months have been a blur of Zoom calls, virtual classes, countless attempted sourdoughs, and certainly a lot of squabbling for the best spot on the couch. So, if you have a backyard or even a sliver of a…
Housing market, after a COVID recession hit, stages a massive comeback Record low mortgage rates, a desire for “space,” and extraordinary government measures deliver significant rebound COLUMBUS, Ohio, Sept. 15, 2020 /PRNewswire/ — Despite millions of job losses and spiking mortgage delinquencies, data from the latest Health of Housing Markets Report (HoHM Report) from Nationwide…
Amid the imbalance between supply and demand in the U.S., buyers need to get an upper hand as they compete with multiple offers. When Paul Warrin, a real estate agent with Golden Gate Sotheby’s International Realty in San Francisco, suggests that his buyer clients write a love letter about the house they’re competing for, he…
Following the rapid contraction in U.S. economic activity as a result of the outbreak of COVID-19, the unemployment rate spiked to 14.4 percent in April and remained elevated in May (13.0 percent), setting the mark for the two highest recorded rates in the post-World War II era. Despite the federal foreclosure moratorium, there were fears…
Inland Empire has nation’s biggest drop in homes for saleSouthern California pending home sales up 13 of past 14 weeks The supply of existing homes for sale in the Inland Empire has fallen the most among 50 major U.S. markets tracked by Zillow. Homeowners across the region, and the nation, have largely refused to put…
The bottom has yet to be reached as mortgage rates achieved a new low for the fourth time in the past five weeks. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average tumbled to 2.98 percent with an average 0.7 point. (Points are fees paid to a lender equal to…
~Activity is springing back faster in major metro areas, where the median asking price in June was nearly 6% higher than a year ago~ By Beckie Strum Originally Published on July 1, 2020 Mansion Global ~U.S. housing supply is falling short of demand, as droves of buyers returned to home shopping last month, according to…
June is National Homeownership Month and to help celebrate the whole month through, we’re reviewing the undeniable benefits of owning your own home. Low mortgage rates are currently fueling record mortgage applications as Americans are realizing the value of a home, bolstered by greater buyer power. Californians also have the opportunity to be gifted a…
Juneteenth is an African American holiday, celebrated annually on June 19, to remember the day when word finally came in 1865 to slaves in Galveston, Texas, that slavery had ended because of President Abraham Lincoln’s Emancipation Proclamation on Jan. 1, 1863. The annual observance, also known as Jubilee Day, Freedom Day and African American Independence…
The unemployment rate dropped and average 30-year mortgage rates have inched up to 3.18%. A recovering economy means rising rates so the sooner you purchase a home, the better your mortgage rate will be! Against the backdrop of protests demanding racial justice, mortgage rates began trending upward as employment-related economic data blew past expectations. Friday’s…
Kara TaylorMay 26th, 2020ForeclosuresMost Recent Articles Due to the economic impact of the Coronavirus, analysts predict a prospective rise in the number of foreclosures over the next several months. As such, as a real estate investor it’s wise to make sure you keep a close watch over changing trends in the distressed market. In this…
RIVERSIDE (CBSLA) – As California and the rest of the U.S. begins to reopen from the coronavirus shutdown, several casinos in the Southland are set to welcome back gamblers to a “new normal”: Morongo Casino in Cabazon will reopen May 22 for slots and table games, but with limited seating Pechanga Resort Casino announced a…
COVID-19 has caused volatility in seemingly everything but housing. By Jeff Andrews May 21, 2020, 12:00pm EDT More than 38 million Americans have lost their jobs since the outbreak of the COVID-19 pandemic. Stay-at-home orders have ground much of the economy to a halt, prompting trillions in stimulus spending by the federal government in hopes…
There are so many ways in which 2020 is not turning out the way most Americans expected. In terms of real estate, we were hurtling toward a busy spring season. All the economic indicators looked strong, boosting buyers to battle it out for a limited supply of homes. But then the coronavirus pandemic swept across…
ATTOM Staff April 30th, 2020 Home Sales & PricesMost Recent Articles Median Home Sales Prices Increase 11 Percent From Last Year; Numbers Show State of Market At Start of Coronavirus Economy Lockdown IRVINE, Calif. – April 30, 2020 — ATTOM Data Solutions, curator of the nation’s premier property database and first property data provider of Data-as-a-Service (DaaS),…
Having labored and loved being a homeowner through the trials and tribulations, for most of us, owning a home has long been a valuable investment as well as a safe place of refuge. Now, practically overnight, our homes became the only safe place to go. The outbreak of COVID-19 has required us to adapt to…
Most people assume homeownership is something they can never accomplish because they don’t have a large enough downpayment or excellent credit. And sure, not everyone has an inheritance or has been a diligent saver enough to where they can plop down on the purchase of their first home. However, if you’re interested in breaking the…
Are you considering selling your home without a Realtor because you think Realtors are overpaid and are cashing in on your sale? Well, let’s evaluate this question a little more. In 2017, only 8% of homeowners sold their homes without a Realtor, the majority of attempts to do so sans a realtor fell through in…
An unfortunate truth became apparent to me as I entered the Real Estate industry five years ago, Realtors are not typically someone most people felt they could trust. In fact, they ranked right around the reputation of a lawyer. As inconvenient as this was for me, I knew then I’d need to ask myself a…
Let’s talk all things escrow. Escrow…what is it and where is it? Depending on where you live, you will most likely be utilizing an escrow company during the buying and selling process of real property. First, what is an escrow? An escrow is a financial arrangement where a third party holds and regulates payment of…
Have you considered being a landlord? Well you will definitely want to think it through before you take on the job. Dealing with the public is not for everyone. In Fact, most landlords find a way around dealing with their tenants directly. Buying properties as investments will usually require renting them out to tenants. If…
We often think of buying a home as a shrewd negotiation between you and some faceless owner or agent, haggling over dollars and cents. And while there is some truth to this trope that Sellers, as well as their Listing Agents, focus a lot on the numbers of a particular deal, every offer has a…
Do open houses work to sell a home or are they a waste of time? If I had a dollar for every time this was asked, I would retire. Open houses really do work! The reason is simple, people want to look without being pressured. If your neighbor wants a look inside your house, they…
The secret to finding your future home while house-hunting in Southern Orange County ($500-650k) If you’ve been shopping for your future home, I’m sure you’ve wondered why certain properties in your budget ($500-650k) seem stagnant. While other similar homes sell before you even get a viewing. Or why when you (Buyer) do find the house…
Contingent offers are back! For the last 5 years if you needed to sell before you bought…You had zero chance of grabbing the home you wanted. Things have changed and I think for the better. Now that the market has turned into a neutral market, you can expect to hear and see more contingent offers…
It’s certainly a great time to buy a home if you like low-interest rates, listing prices that have softened and a bevy of housing inventory to live out your dream. Too often you hear Realtors and Lenders alike boasting about what a great time it is to buy. But, how do you really know when…
There are two wonderful options here: First, is to become a landlord and continue to grow your wealth through equity, the other is to cash out and reinvest in something else, although the decision is a difficult one, it must be made when you have an investment property. There are a few questions to ask…
Not just any Real Estate Agent can write a great offer on your behalf, it takes practice. When an Agent has learned the 10-page residential purchase agreement front to back, they are much more valuable to you. A qualified Realtor will know how to fill the contract out completely and accurately, not omitting anything in…
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Statistics show that the net worth of a homeowner is over 44 times greater than that of a renter. Unfortunately at the same time, the median net worth of renters decreased by 5%.
