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Why Summer is a Great Time to Buy a Vacation Home

You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you. 

Why you may want to consider a vacation home today 

Over the past two years, a lot has changed. You may be one of many people who now work from home and have added…

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Why Rising Mortgage Rates Pushes Buyers Off the Fence

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. 

Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy. 

A Look Back: How the Current Mortgage Rate Compares to Historical Data 

One factor that could help you make your decision to buy…

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Are There More Homes Coming to the Market?

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. 

If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search. 

Early signs inventory may be growing 

The latest data from realtor.com shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year (see graph below):

This indicates…

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What The Experts Are Saying About Home Prices

A burning question for 2022: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters to you. What the experts say about the current and future of home prices and how this will impact you is important to know.  

What’s Happening with Home Prices?  

Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says: 

“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.” 

So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot…

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How Home Ownership Can Shield You From Inflation

If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. 

If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should buy a home or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that come with inflation. 

Homeownership offers stability and security 

Investopedia explains that during a period of high…

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The Future of Home Price Appreciation and What it Means for You

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. 

However, experts say the market is totally different today. For example, Odeta Kushi, deputy chief economist at First American, tweeted just last week on this issue: 

“. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality, low DTI [debt-to-income] & tons of equity. Hence, a crash in prices is very…

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The Biggest Questions Clients are Asking This Spring

Buckle up. This spring market is going to be a busy one.  Homes are selling fast, and inventory just can’t keep up with the demand.  But there are still some big questions surrounding the housing market right now holding back a lot of buyers and sellers.  

Will we see more inventory this spring? 

For the last number of decades, the real estate market has been broken down into seasons with spring reigning as the best time to sell a home. Traditionally, that’s how it’s been. But there’s a big shift happening now.  Recent years have seen that seasonality blur as more and more people decide to buy or sell a home no matter what time of year it is.  What we do know is that while we’ll probably see more homes hit the market this spring,…

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What You Can Expect From The Spring Housing Market

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first-rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. 

Here’s a look at what experts say you can expect this spring. 

1. Mortgage Rates Will Climb 

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days. As Freddie…

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Proof That We Are Not In A Housing Bubble

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different from what it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time. 

1. Houses Are Not Unaffordable Like They Were During the Housing Boom 

The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional lending standards say a purchaser should not spend more than 28% of their gross income on their mortgage payment. 

Fifteen years ago,…

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Want Top Dollar For Your House? Now Is The Time To List!

When you’re selling any item, you usually want to sell it for the greatest profit possible. That happens when there’s a strong demand and a limited supply for that item. In the real estate market, that time is right now. If you’re thinking of selling your house this year, here are two reasons why now’s the time to list. 

1. Demand is very strong this winter 

A recent article in news explains: 

“Spring, the hottest time of year for homebuyers and sellers, has started early, according to economists... ‘Home shopping season appears to already be in full swing!’” 

And they aren’t the only ones saying buyers are already out in full force. That claim is backed up with data released last week by Showing Time.…

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