Dear would-be homebuyers: We see you. You had a rough year. Mortgage rates hit highs not seen in 22 years, home prices remained at budget-busting levels, and the listing pages were not exactly bursting at the seams.
But after you take a deep cleansing breath, we have some great news for you.
The next year is shaping up to be your year. Mortgage rates are predicted to fall, more homes are set to hit the market, and as for home prices? Yup, those are likely headed south. Phew.
But what’s that you...But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.
Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there’s a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it’s important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains:
“Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing pap...Mortgage rates have been back on the rise recently and that’s getting a lot of attention from the press. If you’ve been following the headlines, you may have even seen rates recently reached their highest level in over two decades (see graph below): That can feel like a little bit of a gut punch if you’re thinking about making a move. If you’re wondering whether or not you should delay your plans, here’s what you really need to know. How Higher Mortgage Rates Impact You There’s no den...
During the pandemic, many people distanced themselves from their loved ones for health reasons. Grandparents were told to stay away from their grandkids, especially as schools started to open. That’s because it would have been risky to visit with their grandchildren who may have gotten sick from school.
Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time. But how are they getting that “Grandparent Wish?” The...
Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news – based on what Ali Wolf, Chief Economist at Zonda, has to say – smaller, more affordable homes are on the way:
In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed...“Buyers should expect that over the next 12 to 24 months there will be a notable increase in the number of entry-level homes available.”
An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right.
But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is notewor...