If you’re following along with the news today, you’ve heard about rising inflation. Today, inflation is at a 40-year high. According to the National Association of Home Builders (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an 8% rate and was the largest...
For Buyers
Once you’ve applied for a mortgage to buy a home, there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t...
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 you may hear: Appreciation is when home prices increase. Depreciation is when home prices...
If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesn’t mean you have to put your plans on hold. If you partner with a trusted real estate advisor and hone your strategy, you can navigate today’s market and find the home...
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 move up this summer. According to the latest data from realtor.com, the number of homes being listed for sale,...
Some Highlights It’s important to understand history proves an economic slowdown does not equal a housing crisis. In 4 of the last 6 recessions, home prices actually appreciated. Home prices only fell twice – minimally in the early 90s and then by nearly 20% during the housing crash in 2008. If you have questions, let’s connect to discuss why today’s housing market is nothing like...
June is National Homeownership Month, and it’s the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. It’s your stake in the community, an investment, and a place you can put your stamp on. If you’re thinking about buying a home this year, here are some of the benefits you’ll experience when you do. The...
In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Let’s ease those concerns. Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the Mortgage Credit Availability Index (MCAI). According to their website: “The MCAI provides the only standardized...
If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs housing inventory is starting to grow and...
Some Highlights Warmer weather and longer days mean summer is almost here. Celebrate by upgrading to the home of your dreams so you can enjoy all the season has to offer. When you list your house, you can capitalize on today’s sellers’ market to fuel your upgrade. Then, you can move to a home with the features you want, like space to entertain or rooms for work and play. If you’re ready to upgrade...