As a seller, you will be most concerned with the ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not with price but instead with the ‘long term cost’ of the home.Many economists have pointed to Brexit (Britain’s exit from the European Union) [...]
The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:They want the opportunity to build equity.They want a stable and safe environment.Building EquityJohn Taylor, CEO of the National Community Reinvestment Coalition, explains that those who lack the opportunity to become [...]
Some Highlights:95% of first-time homebuyers are willing to sacrifice to make homeownership a reality.The top thing that buyers sacrifice are new clothes at 54%.Even repeat or experienced buyers say they sacrificed taking a vacation or buying a new car to buy their last home.Powered by WPeMatico
Last week, the National Association of Realtors (NAR) released their Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings. The report revealed that this May’s numbers weren’t quite as good as the year before:“With last month’s decline, the index reading is still the third highest in the past year, but [...]
Summer is here! The temperature isn't the only thing heating up right now, so too is the housing market in many areas of the country! Here are four great reasons to consider buying a home today instead of waiting.1. Prices Will Continue to RiseCoreLogic’s latest Home Price Index reports that home prices have appreciated by [...]
The housing market is hot, with prices rising as demand far outpaces supply in almost every region. However, when it comes to luxury real estate, things are quite different. In the upper-end market, inventory is plentiful in most locations.For that reason, prices haven’t skyrocketed as they have in the lower and mid-tier markets. This, coupled [...]
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Some Highlights:Sales of existing homes reached the highest annual pace in over 9 years at 5.29 million.Inventory remains below the 6-month norm and prices are still on the rise.Interest rates are at a historic low of 3.48%.Powered by WPeMatico
Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market.The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several [...]
In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal.If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the price when performing [...]