Some Highlights

• Choosing the right real estate professional is one of the most impactful decisions you can make in your home buying or selling process.
• A real estate professional can explain current market conditions and break down what they will mean to you and your family.
• If you’re considering buying or selling a home in 2020, make sure to work with someone who has the experience to answer all of your questions about pricing, contracts, and negotiations.

Looking ahead, 2020 is projected to be a strong year for homeownership. According to the Freddie Mac Forecast,

We talk a lot about why it makes financial sense to buy a home, but more often than not we’re drawn to the emotional reasons for homeownership.

Some Highlights

• Interest rates will be lower than they have been since before 1980 at 3.8% and are projected to remain steady throughout 2020!
• According to CoreLogic, home prices will appreciate at a rate of 5.4% over the course of the year.
• Experts predict that the number of homes sold next year will be equal to or outpace 2019.

This coming year the housing market will be defined by 3 things- inventory, interest rates, and appreciation.  But the biggest issue the housing market will face in 2020 is an inventory shortage.  There aren’t enough homes on the market for buyers, especially on the lower end of the market. This is a topic that has come up frequently within the past several months.

The reality of what we’re seeing this month is that homes are selling fast. In today’s strong seller’s market, bidding wars are common and expected with starter or entry-level homes.

Black Friday is behind us and holiday gifts are flying off the shelves in stores and online. Unlike last year, however, there’s another type of buyer that is very active this winter – the homebuyer.

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.

Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:

Saving for a down payment is a key step in the homebuying process, and it’s not the only piece you need to include in your budget. Another factor that’s important to plan for is the closing costs required to obtain a mortgage.

Some are reporting that there is trepidation regarding the real estate market in the United States. Apparently, the American people are quite comfortable.

At this time of year, many families come together to celebrate the season. It’s also the time when many realize their homes are just not quite big enough to host all of their guests and loved ones. Are you one of those homeowners dreaming for a larger space to call home?

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd?

Some Highlights

• Existing Home Sales are currently at an annual pace of 5.46 million.
• The inventory of existing homes for sale remains below the 6 months needed for a normal market and is now at a 3.9-month supply.
• Inventory remains low due to high demand from buyers who are still looking for a house to buy!

There are great advantages to owning a home, yet many people continue to rent. The financial benefits are just some of the reasons why homeownership has been a part of the long-standing American dream.

Around this time each year, many homeowners decide to wait until after the holidays to list their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why listing your house now or keeping it on the market this winter may be the best choice you can make.

Some Highlights

• With interest rates around 3.66%, now is a great time to look back at where they’ve been over the past few decades. Comparatively, they’re pretty low!
• According to Freddie Mac, rates are projected to increase to 3.9% by this time next year.
• The impact your interest rate has on your monthly mortgage payment is significant. An increase of just $20 dollars in your monthly payment can add up to $240 per year and $7,200 over the life of your loan.
• Maybe it’s time to lock in now, while rates are still historically low.

 

Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:

Success is something often worth repeating, and Brent Sutherland, a Certified Financial Planner and Real Estate Investor, has certainly made his way in a momentum-driving direction. Here are 3 tips he shares from a recent piece in Business Insider on the benefits of owning real estate:

In a recent article, First American shared how millennials are not really any different from previous generations when it comes to the goal of homeownership; it is still a huge part of their American Dream. The piece, however, also reveals,

Some Highlights

• Historically, the choice between renting and buying a home has been a tough decision.
• Looking at the percentage of income needed to rent a median-priced home today (27.7%) vs. the percentage needed to buy a median-priced home (17.5%), the choice is clear.
• Every market is different. Before you renew your lease, find out if you can put your housing costs to work by buying a home this year.

Some are afraid the real estate market may be looking a lot like it did prior to the housing crash in 2008. One of the factors they’re pointing at is the availability of mortgage money.

Buyers are out in full force this fall, increasing the demand for homebuying in all four regions of the country.

In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.

Today, on Veterans Day, we salute those who have served our country in war or peace, and we thank them for their sacrifice.