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...
home prices
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...
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...
Hello Buyers, Yes the rates are up, but what does that really mean for you as the buyer. Let's take a look at all that. The rate increases have corrected the hyperaggressive sellers' market that has been a product of the historically low rates the last 5 years. Scales have tipped back in the buyers' favor, no more extra cash needed to offer way over asking price, no waiving inspections, or having...
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...
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...
The biggest story of 2022's housing market has been rapidly rising mortgage rates. After all, mortgage rates haven't risen so fast in 40 years. The average rate on 30-year fixed rate mortgages was 2.7% last August, and reached 5.7% in June 2022. Higher rates affect the entire housing market, as higher monthly payments mean depressed buyer demand and homeowners who decide not to sell because they don't...
This is a GREAT article from The EPOCH TIMES that gives one an understanding of how the Housing Market is looking. From The EPOCH TIMES By Naveen Athrappully Housing sentiment in the United States, as measured by the Fannie Mae Home Purchase Sentiment Index (HPSI), has fallen to its lowest level in more than 10 years. In July, the HPSI declined by two points, to 62.8, the lowest level since 2011...