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If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market … [Read more...]
Should I Wait for Lower Mortgage Interest Rates?
According to Greg McBride, Chief Financial Analyst for Bankrate: “As vaccines become more widely available and a return to normal starts to come into view, we’ll see mortgage rates bounce off the record lows.” While only a slight increase in mortgage rates is projected for 2021, some experts believe they will start to rise. Over the past week, for example, the average mortgage rate ticked up slightly, reaching 2.79%. This is still incredibly low compared to the trends we’ve seen over time. … [Read more...]
Did You Outgrow Your Home in 2020?
It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home. Many needs have changed in 2020, and it’s okay to admit if your house no longer fits your lifestyle. If you’re now working remotely, facilitating virtual school, trying to exercise at home, or simply just spending more time in your own four walls, you may be bursting at the seams in your current house. According to … [Read more...]
A New Way to Shop for Homes in a Virtual World…
In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live. This year, rather than delaying their home purchases, buyers – alongside their trusted real estate professionals – turned to the Internet to do more than just a typical home search. In some cases, they bought homes without even stepping foot inside. Jessica Lautz, Vice … [Read more...]
VA Home Loans: Helping Heroes Find a Home…
Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes. As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them … [Read more...]
Buyer Interest Is Growing among Younger Generations…
The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains: “Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during … [Read more...]
Real Estate Continues to Show Unprecedented Strength This Year…
The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more? Here’s a look at what several industry-leading experts have to say. Lawrence Yun, Chief Economist, National Association of Realtors “Home sales continue to amaze, and there are plenty of buyers in … [Read more...]
Is the Economic Recovery Beating All Projections?
Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the country will not face the total devastation projected by some. As we continue to battle the pandemic, forecasts are now being revised upward. The Wall Street … [Read more...]
Just How Strong Is the Housing Recovery?
The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of the real estate market. Purchase Mortgages The number of buyers getting a mortgage to purchase a home is a strong indicator of the strength of a housing … [Read more...]
What Are Experts Saying about Home Prices?
Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index said: “The economic downturn that started in March 2020 is predicted to cause a 6.6% drop in the HPI by May 2021, which would be the first decrease in annual home prices in over 9 years.” The forecast was surprising as it was strikingly different than any other projection by major analysts. Six of the other eight … [Read more...]
