Last week we discussed how national home prices have increased by 6.7%. Additionally, interest rates have remained historically low which has allowed for more buyers to enter the market. The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year.
Read MoreHomes are appreciating, which is what makes buying one such an excellent investment. According to Pulsenomics’ most recent Home Price Expectation Survey, home prices are expected to appreciate, on average, by 3.6% per year over the next 5 years and grow 18.2% cumulatively. What does that mean for homeowners? Equity and more of it.
Read MoreDuring spring and summer, we see an influx of buyers competing for the same properties. An active marketplace demands that buyers set themselves apart from each other. One of the easiest ways to do that is to show how serious they are about purchasing a home. Getting pre-approved for a mortgage demonstrates dedication, expedites the loan process and provides an accurate view of the buyer’s budget. To us, starting the buying process with a pre-approval is an absolute must. Otherwise, you’re going into the market blind to what you can afford.
Read MoreHousing prices are high, but would you believe that the actual cost of homes is lower today than ever before? Historically prices were lower, however, wages were also lower while mortgage rates were higher. Keeping that in mind, the actual cost to own is cheaper now.
Read MoreNow is a great time to upgrade to a luxury home if you’re ready. Last month, The Institute for Luxury Home Marketing released its Luxury Market Report showing that buyers are in control of the previously balanced luxury market. With available properties far exceeding willing buyers, more luxury homes are entering the market and staying there longer. For the ready buyer, this can lead to discounted prices and friendlier negotiations on absolutely premium pieces of real estate.
Read MoreWhile spring and summer are more popular seasons for house hunting, winter should not be overlooked. The colder and shorter days may not inspire you to go look at houses, but consider this: they aren’t inspiring other buyers either. This means you’ll likely have fewer to compete with when you’re ready to make an offer. That lack of competition is just one of the many reasons to consider buying a home in the winter.
Read MoreChoosing the right realtor entails more than just hiring someone with credentials. Preparing to buy or sell a home can be daunting, but hiring the best realtor for your needs can make an overwhelming process much easier. What makes a realtor “right” can vary on your aspirations, requirements, and even personality. Here are our tips for helping you choose the best agent for you and your real estate goals.
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