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If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again. Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates.
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As we head into the Summer of 2021, many wonder if big changes are coming to the housing market. Here are what some experts have to say about the main factors that will push the industry and the economy ahead in the months to come.
“. . . homes continue to sell quickly in what’s normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with homes selling fastest from roughly now until mid-summer.”
“Sellers who have been hesitant to list homes as part of their personal health safety…
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With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), houses on average are receiving over four offers from buyers, and they’re selling in less than three weeks.
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Today’s home price appreciation is driving equity higher throughout the country. If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move.
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During normal housing markets, renovations are an important way to add value to a property. However, with so many buyers competing for such a low supply of available homes right now, renovations may not be as critical as they normally would.
1. There aren't enough homes for sale right now.
A normal market has a 6-month supply of houses for sale, but today’s housing inventory sits far below that benchmark. According to the National Association of Realtors (NAR), there’s only a 1.9-month supply of homes available today. As a result, buyer competition is high, and homes are only on the market for about 21 days, during which time many receive multiple offers from hopeful buyers.
In this market, it may be wise to let future homeowners remodel the…
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There are many misconceptions about buying or selling a home today, making it difficult to navigate the current real estate landscape. Here’s a little clarity when it comes to 5 common myths about the 2021 housing market.
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Last year, many homeowners were wary about selling their houses due to the emerging the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling.
Fannie Mae's latest report shows that 57% of consumers believe now is a good time to sell, and experts are optimistic that consumer positivity around selling will lead to more homeowners making moves this year. Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:
“Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary…
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The Aaronson Group has listed 35 Briarglenn, Aliso Viejo, Orange County, California, for $975,000. (MLS® #OC21050147)
This highly upgraded Glenwood Terrace home is prominently positioned on an oversized lot, which backs to a greenbelt and is two doors down from an expansive park. This light and bright home with main floor bedroom boasts soaring cathedral ceilings and is finely appointed with beautiful hardwood flooring, Milgard windows & doors, ceiling fans, closet organizers, custom blinds, and much more! The upgraded kitchen features granite enhanced counters and breakfast bar, stainless steel appliances, and an elegant garden window overlooking the breathtaking rear yard and greenbelt beyond. Upstairs, the impressive master suite is outfitted…
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The Aaronson Group has sold 19 Vista Montemar, Laguna Niguel, Orange County, California, for $3,600,000. (MLS® #OC21012450)
With its spectacular front row and panoramic ocean, canyon, island, and sunset views, this Palmilla home features a grand design with exquisite workmanship throughout. Built by Ibar development, this sophisticated custom home boasts large scale spaces, including 5 generously sized bedrooms (one being a main floor suite), an impressive library/office, upstairs bonus room, and a versatile casita. The chef’s caliber, expanded kitchen features a massive island and is finely appointed with a Thermador professional stove with custom hood, 48” subzero fridge, Miele expresso, steam and convection ovens, double dishwashers, and an…
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Houses are in high demand, and they’re selling fast. It's a great time to sell if you’re ready to make a move, so follow these preparation tips to make your property ready for a top-dollar sale this spring.
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With over $750 Million in real estate sales, The Aaronson Group offers an unparalleled level of service to our highly respected clients. Whether you are looking to buy or sell your home, we guarantee that our expertise, professionalism & dedication will navigate you towards meeting your unique real estate needs.
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