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While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession. You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If … [Read more...]
The Latest on Supply and Demand in Housing…
Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today. This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on … [Read more...]
If You’re Thinking of Selling Your House This Fall, Hire a Pro…
Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house. Here are five key reasons why working with a real estate professional makes sense today. 1. A Professional Follows the Latest Market Trends With higher mortgage rates and … [Read more...]
Selling Your House? Your Asking Price Matters More Now Than Ever…
There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house? While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising mortgage rates are creating less buyer demand. Because of this, there are more homes on the market. And in a shift like this one, the way you price your home matters … [Read more...]
The Drop in Mortgage Rates Brings Good News for Homebuyers…
Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news. Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below): But why is this recent dip such good news for homebuyers? As Nadia Evangelou, … [Read more...]
There Won’t Be a Wave of Foreclosures in the Housing Market…
When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here’s a look at why that isn’t the case. 1. There Are Fewer Homeowners in Trouble This Time After the last housing crash, over nine … [Read more...]
Happy New Year…
The Dean Weissman Team wishes you and yours a very prosperous 2022! Thanks for all of your referrals and your continued support of our business over the years! We are ever so GRATEFUL... With Gratitude and THANKS! … [Read more...]
Merry Christmas and Happy New Year…
Wishing you and your family continued inspiration and success! Merry Christmas and Happy New Year from all of us at The Dean Weissman Team … [Read more...]
Don’t Believe Everything You Read: The Truth Many Headlines Overlook…
There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look … [Read more...]
Knowledge Is Power When It Comes to Appraisals and Inspections…
Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect … [Read more...]
