Housing sales

SHOULD ONE BUY A HOME NOW OR WAIT?

I haven't posted much lately as the news for home buying seemed to always be bad.  While it is true interest rates are going up it is not all bad.  Here is some information I received from a lender at Bank of Albuquerque.  It seemed to make sense to me, so I wanted to pass it on. The number one question that we are all getting is "Should I buy a home right now or wait?" It's a very valid question...

IS THERE A REALISTIC VIEW OF THE HOUSING MARKET?

I don't think any of us really know what the future for the housing market holds. However, this video explains a lot about what those who make decisions for our economy look at at.  Being educated on how this works and what to look at can help one be just a little more cause in this arena. Take a few minutes, about 30, and listen to what this real estate expert has to...

Warning Signs Besides Rising Interest Rates for Homebuyers

This is an article from EPOCH Times.  It gives great advice for Homebuyers to look at when purchasing a home. Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family...

WE ALL HAVE A CHOICE

This was sent to me by one of my lenders, Jason Pike with Waterstone Mortgage.  I thought it was really great and wanted to pass it on. You can either run from the challenge, “by ignoring the present, calming yourself by thinking this will all be over in 3 to 6 months” or you “jump into the reality of today with the attitude of not concerned on how long this will last”.  You adapt your business...

HOUSING INVENTORY

NATIONAL MARKET UPDATE AS OF 9/19/2022 The National Association of Realtors reports active housing market inventory continues to grow, up 27% from a year ago. Versus last year, shoppers have more homes to consider, although inventory still isn’t back to pre-pandemic levels. A recent study reveals adults with school-aged children will account for nearly one in four home sales over the next 10...

WHAT IS HAPPENING WITH INTEREST RATES?

MARKET UPDATE Mortgage rates jumped again this past week, surpassing the 6% mark and reaching the highest level since the fall of 2008. This could accelerate the market correction, which is already well underway, by making purchasing a home even more expensive for cash-strapped buyers, pricing many completely out of the market. The 30-year fixed-rate mortgage averaged 6.02% in the week ending September...

LABOR DAY IS OVER, NOW WHAT?

Labor Day normally indicates the end of summer and the beginning of fall.  Schools have started and families are back to a more stable routine.  Now how does this all effect the housing market?  Well, here is what is being said about it nationally: In July, total residential construction spending fell 1.5% below June’s revised estimate, to a $920.4 million annual rate. However, that number is...

NATIONAL MARKET UPDATE

Existing Home Sales slipped for the sixth straight month in July. But the good news was, median prices fell 2.4%, inventory continued to rise, and demand was strong, with 82% of homes sold in less than a month. Housing Starts dropped in July. Starts for single-families are down 18.5% yearly, but up 17.4% for buildings with 5 units or more. Building Permits are down 11.7% annually for...

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Mary Cockburn - 5 Star Real Estate Agent serving Edgewood, Albuquerque, & East Mountain