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Why Have Interest Rates Jumped to a 7-Year High?
May
23
2018
Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors. Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer […]
Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
How Current Interest Rates Can Have a High Impact on Your Purchasing Power
May
22
2018
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is […]
Posted in First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers
Don’t Wait to Sell Your House! Buyers Are Out Now
May
21
2018
Recently released data from the National Association of Realtors (NAR) suggests that now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high. Let’s see how […]
Posted in For Sellers, Housing Market Updates, Move-Up Buyers
5 Ways Tax Reform Has Impacted the 2018 Housing Market
May
10
2018
Starting late last year, some predicted that the 2018 tax changes would cripple the housing market. Headlines warned of the potential for double-digit price depreciation and suggested that buyer demand could drop like a rock. There was even sentiment that homeownership could lose its coveted status as a major component of the American Dream. Now […]
Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers
This Just In: Data Says May is the Best Month to Sell Your Home
May
02
2018
According to a newly released study by ATTOM Data Solutions, selling your home in the month of May will net you an average of 5.9% above estimated market value for your home. For the study, ATTOM performed an “analysis of 14.7 million home sales from 2011 to 2017” and found the average seller premium achieved […]
Posted in For Sellers, Move-Up Buyers, Pricing
How Much Has Your Home Increased in Value Over the Last Year?
May
01
2018
Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.7% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median […]
Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers
Buyer Demand Still Outpacing the Supply of Homes for Sale
Mar
27
2018
The price of any item is determined by the supply of that item, as well as market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic […]
Posted in For Buyers, For Sellers
Freddie Mac: Rising Mortgage Rates DO NOT Lead to Falling Home Prices
Mar
22
2018
Recently, Freddie Mac published an Insight Report titled Nowhere to go but up? How increasing mortgage rates could affect housing. The report focused on the impact the projected rise in mortgage rates might have on the housing market this year. Many believe that an increase in mortgage rates will cause a slowdown in purchases which […]
Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing
Is a Major Home Renovation Worth It in the Long Run?
Mar
21
2018
Last week, we shared “7 Factors To Consider When Choosing A Home To Retire In.” For some homeowners, these seven factors can be taken into account with a home renovation, but is it worth it to remodel or change floor plans? Let’s look at this example. Let’s say you have a 4-bedroom colonial style home […]
Posted in For Buyers, For Sellers, Move-Up Buyers
Are You Aware of How Much Equity You Have in Your Home? You May Be Surprised!
Mar
20
2018
CoreLogic’s latest Equity Report revealed that 675,000 US homeowners regained positive equity in their homes in 2017. This is great news for the country, as 95.1% of all mortgaged properties are now in a positive equity situation. “U.S homeowners with mortgages (roughly 63% of all the properties) have seen their equity increase by a total of $908.4 billion […]
Posted in For Sellers, Move-Up Buyers