Renters Missed Out on $51,500 This Past Year
Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic.
Housing Challenge or Housing Opportunity? It Depends.
The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically.
Does Your House Have What Buyers Want?
If your house has extra space that you no longer need, buyers are interested, and now may be the perfect time to sell.
There Are More Homes Available Now than There Were This Spring
If you’re considering selling your house, realize that while growing, inventory is still low. Selling now means you’ll be in a great position to negotiate with buyers – and competition among buyers is good news for your bottom line. Eager buyers will likely be motivated to act before the holidays, giving you the benefit of a fast sale.
Knowledge Is Power When It Comes to Appraisals and Inspections
Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road.
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The Mortgage Process Doesn’t Have To Be Scary [INFOGRAPHIC]
Applying for a mortgage is a big step towards homeownership, but it doesn’t need to be one you fear. Here are some tips to help you prepare. Know your credit score and work to build strong credit. When you’re ready, lean on your agent to connect you with a lender so you can get pre-approved and begin your home search.
Important Distinction: Homes Are Less Affordable, Not Unaffordable
It’s true that it’s less affordable to buy a home today than it has been the last few years. However, it’s more affordable to buy today than the average over the last 25 years. In other words, homes are less affordable, but they’re not unaffordable. That’s an important distinction.
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Your Home Equity Is Growing [INFOGRAPHIC]
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 your dreams.
Looking To Move? It Could Be Time To Build Your Dream Home.
While today’s supply of homes for sale is still low, the number of newly built homes is increasing. If you’re ready to sell but have held off because you weren’t sure you’d be able to find a home to move into, newly built homes and those under construction can provide the options you’ve been waiting for.
What Does the Future Hold for Home Prices?
If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. It’s important to note home prices have increased, or appreciated, for 114 straight months. To find out if that trend may continue, look to the experts.
Sellers: Your House Could Be an Oasis for Buyers Seeking More Options
Sellers have a great opportunity this season as buyer demand still heavily outweighs the current supply of homes for sale. Listing your house this fall – before more options appear – gives your house the best chance to be noticed by multiple buyers.
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Homebuyer Tips for Finding the One [INFOGRAPHIC]
The best advice carries across multiple areas of life. When it comes to homebuying, a few simple tips can help you stay on track. Because of increased demand, you’ll need to be patient and embrace compromises during your search. Then, once you’ve fallen in love, commit by putting your best offer forward.
What Do Past Years Tell Us About Today’s Real Estate Market?
As you follow the news, you’re likely seeing headlines discussing what’s going on in today’s housing market. Chances are high that some of the more recent storylines you’ve come across mention terms like cooling or slowing when talking about where the market is headed. The housing market today is anything but normal, and it’s still an incredibly strong sellers’ market, especially when compared to the few years leading up to the pandemic.
The Big Question: Should You Renovate or Move?
If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. In either case, you’ll need access to capital: the funds for the renovation or the down payment your next home would require. The great news is that the money you need probably already exists in your current home in the form of equity.
Don’t Wait for a Lower Mortgage Rate – It Could Cost You
Mortgage rates today are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well below what your parents and even grandparents got in years past. The key will be acting sooner rather than later.
Experts Agree: Homeownership Provides a Path to Long-Term Wealth
A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include: the flexibility to make the space your own, the pride homeownership offers, the sense of stability. In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time.
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What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC]
Today’s strong sellers’ market is the direct result of high demand and low supply. Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply.
111,285 Reasons You Should Buy a Home This Year
The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations.
What Do Supply and Demand Tell Us About Today’s Housing Market?
There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly.
The Main Key To Understanding the Rise in Mortgage Rates
Every Thursday, Freddie Mac releases the results of their Primary Mortgage Market Survey which reveals the most recent movement in the 30-year fixed mortgage rate. Last week, the rate was announced as 3.01%. It was the first time in three months that the mortgage rate surpassed 3%.