Some Highlights: Buyers are active in the market and often competing with one another for available listings. Housing inventory is still under the 6-month supply found in a normal housing market. Homes are still selling relatively quickly, averaging 31 days on the market.
One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and…
When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks…
Price appreciation can differ depending on your price range. CoreLogic analyzed four individual home prices tiers and shares the increase in each one. CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also…
Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how…
Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength…
With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the…
Falling mortgage interest rates, moderating home price growth and a strong labor market combined to boost consumer sentiment toward the housing market in August. As a result, Fannie Mae’s Home Purchase Sentiment Index (HPSI) increased 0.1% compared with July to a score of 93.8 – a new survey high. Although the net share of respondents who said…
In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes, “The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”. The article continues to describe how millennials have more buying-power than the generations that preceded them, making…
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing,…
We share insightful articles and resources to help homeowners and real estate professionals stay connected to the top trends related to the real estate market and local happenings in Tallahassee.