Tuesday, November 24, 2020 / by Nicole Solari
There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also prompted more Americans to reconsider the meaning of “home.” This quest for a place better equipped to fulfill our needs, along with record-low mortgage rates, has skyrocketed the demand for home purchases.
This increase in demand, on top of the severe shortage of homes for sale, has also caused more bidding wars and thus has home prices appreciating rather dramatically. Some, therefore, have become cautious about buying a home right now.
The truth of the matter is, even though homes have appreciated by a whopping 6.7% over the last twelve months, the cost to buy a home has actually dropped. This is largely due to mortgage rates falling by a full percentage point.
Let’s take a look at the monthly mortgage payment on a $300,000 house one year ago, and then c. ...
Monday, November 23, 2020 / by Nicole Solari
This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why.
According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):
“The length of time spent searching for a home continues to grow.”
The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Asso. ...
Friday, October 16, 2020 / by Nicole Solari
With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers.
From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home.
Reach out to a trusted real estate professional today to be sure you have the guidance you need as the competition for homes heats up this season.
Friday, October 9, 2020 / by Nicole Solari
If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you?
New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs.
Reach out to a local real estate professional to understand how to sell your house while buyer demand is high and find a new home to call your own while you’re at it.
Friday, October 2, 2020 / by Nicole Solari
According to CoreLogic, homeowners across the country are gaining significant equity.
Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth.
If you’re ready to sell your current house and begin looking for your dream home, contact your local real estate professional to learn how your home equity can help make that possible.