There’s no denying we’re in a sellers market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR): Homes typically sell within 17 days (compared to 26 days one year ago). The average home sold has five offers
Selling Your House? Make Sure You Price It Right. Read More »
In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, shares more: “The frequency of buyers being willing to pay more than the market
What To Expect as Appraisal Gaps Grow Read More »
Housing Market Insights For 2022 Yes we are at the half way mark of 2021 already!!! Yes interest rates are still low, inventory is coming up and inflation is on the rise!! So what is on the horizon as we move into the second half of 2021 and peak into 2022?? My Market Musings for
The major challenge in today’s housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply can’t keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates it’s a buyers’ market, but an inventory level below
Hope Is on the Horizon for Today’s Housing Shortage Read More »
For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price
In Today’s Market, Listing Prices Are Like an Auction’s Reserve Price Read More »
When stay-at-home mandates were enforced last year, many households realized their homes didn’t really fulfill their new lifestyle needs. An office (in some cases two), a media room, space for children to learn, a gym, and a large yard are all examples of amenities that became highly desirable almost overnight. Zelman & Associates recently reported that sales of
You May Want To Cash in on Your Second Home Read More »
You can get started without the Certificate of Eligibility (COE) Your credit score still matters, but it’s not everything Make sure you have enough saved Shop for a VA lender and get pre-approved Hire a real estate agent that’s VA-savvy Choose a property that’s VA-approved Close the deal only when you’re ready to move in
7 VA Loan Tips for Veterans, Service Members and Military Spouses Read More »
One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be
Sellers Are Ready To Enter the Housing Market Read More »
Over the past year, the pandemic made it challenging for some homeowners to make their mortgage payments. Thankfully, the government initiated a forbearance program to provide much-needed support. Unless they’re extended once again, some of these plans and the corresponding mortgage payment deferral options will expire soon. That said, there’s still time to request assistance. If
It’s Not Too Late To Apply For Forbearance Read More »
So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have
Are Interest Rates Expected to Rise Over the Next Year? Read More »
