Real Estate Blog

Why Sell Now instead of Later? The Buyers are Out Now | Simplifying The Market

Why Sell Now Instead of Later? The Buyers are Out Now

 Thursday November 2nd, 2017  For Sellers, Housing Market Updates, Move-Up Buyers  

Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently releaseddata suggests that a seller’s best deal may be available right now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed for over a

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Renting or Buying…Either Way, You're Paying Someone's Mortgage | Simplifying The Market

Renting or Buying…Either Way, You’re Paying Someone’s Mortgage

 Monday October 30th, 2017  First Time Home Buyers, For Buyers, Interest Rates, Move-Up Buyers, Rent vs. Buy  

There are some people who have not purchased homes yet because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich,”

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you

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Freddie Mac released the results of its Primary Mortgage Market Survey®, showing average mortgage rates hitting their highest marks since July.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.94 percent with an average 0.5 point for the week ending October 26, 2017, up from last week when it averaged 3.88 percent. A year ago at this time, the 30-year FRM averaged 3.47 percent. 
  • 15-year FRM this week averaged 3.25 percent with an average 0.5 point, up from last week when it averaged 3.19 percent. A year ago at this time, the 15-year FRM averaged 2.78 percent

 

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.
"The 10-year Treasury yield surged this week, jumping 12 basis points. The 30-year mortgage rate followed

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Buying a Home Can Be Scary… Unless You Know the Facts [INFOGRAPHIC]

 Friday October 27th, 2017  Buying Myths, Down Payments, First Time Home Buyers, For Buyers, Infographics, Millennials  

Buying a Home Can Be Scary... Unless You Know the Facts [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying! Here are some facts:

  • 40% of millennials who purchased homes this year have put down less than 10%.
  • 76.4% of loan applications were approved last month.
  • The average credit score of approved loans was 724 in September.



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5 Reasons to Hire a Real Estate Professional When Buying or Selling! | Simplifying The Market

5 Reasons to Hire a Real Estate Professional When Buying or Selling!

 Monday October 23rd, 2017  First Time Home Buyers, For Buyers, For Sellers, FSBOs, Move-Up Buyers  

Whether you are buying or selling a home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

1. What do you do with all this

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Freddie Mac today released the results of its Primary Mortgage Market Survey®, showing the average 30-year fixed mortgage rate posting its biggest week-over-week increase since July 2017. 

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.91 percent with an average 0.5 point for the week ending October 12, 2017, up from last week when it averaged 3.85 percent. A year ago at this time, the 30-year FRM averaged 3.47 percent. 
  • 15-year FRM this week averaged 3.21 percent with an average 0.5 point, up from last week when it averaged 3.15 percent. A year ago at this time, the 15-year FRM averaged 2.76 percent.  
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.16 percent this week with an average 0.4 point, down from
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Millionaire to Millennials: Buy a Home Now! | Simplifying The Market

Millionaire to Millennials: Buy a Home Now!

 Tuesday October 10th, 2017  First Time Home Buyers, For Buyers, Move-Up Buyers  

In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30

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Home Sales Expected to Increase Nicely in 2018 | Simplifying The Market

Home Sales Expected to Increase Nicely in 2018

 Tuesday September 19th, 2017  For Sellers, Move-Up Buyers  

Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.

Home Sales Expected to Increase Nicely in 2018 | Simplifying The Market

As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market.



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Where Are the Home Prices Heading in The Next 5 Years? | Simplifying The Market

Where Are Home Prices Heading in The Next 5 Years?

 Tuesday August 29th, 2017  First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing  

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey.

Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey:

Home values will appreciate by 5.0% over the course of 2017, 4.0% in 2018, 3.2% in 2019, 3.0% in

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Home Prices Up 6.64% Across the Country! [INFOGRAPHIC] | Simplifying The Market

 

Some Highlights:

  • The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
  • In the report, home prices are compared both regionally and by state.
  • Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
  • Alaska & West Virginia were the only states where home prices are lower than they were last year.



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