Realtor.com reports active inventory continues to grow, up 30% from a year ago. This jump in supply gives today’s shoppers an extra home to consider for every three that were on the market this time last year. Freddie Mac tells us: “Declines in purchase demand continue to diminish while supply remains fairly tight….The consequence is that house prices likely will continue to rise, but at a...
Real Estate
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...
Today with interest rates raising, one wants to ensure their credit score is the best it can be. Your credit score, also known as your FICO Score, plays an important role when you apply for a mortgage. You can get a free credit report from each of the three credit bureaus once a year at AnnualCreditReport.com. This is the only source for free credit reports, and it’s authorized by federal law. It...
By David Sparks/May 27, 2021 Generally speaking, the criteria come down to three basic areas: Restricted to first-time homebuyers Buyers must meet income levels Homebuyer education course required Of course, there may be other criteria, so it is always helpful to speak with a knowledgeable lending professional to get a complete picture of all applicable qualifying criteria. What is...
The housing market is shifting. Since the beginning of the year, mortgage rates have moved up. Home prices are still increasing just at a slower rate. These higher rates and prices have reduced the number of buyers, while sellers have more competition as more listings hit the market. In light of these developments, here are five things sellers need to know, according to real estate experts. There is a...
No one really knows if it is the RIGHT time to purchase a home but there are better times for one to purchase a home depending on their circumstances. Over the past year interest rates were at an all time low. This made it very inviting for homebuyers. Their interest rate was low making their payments low. But at the same time there were way fewer homes on the market making the process of getting...
The signs are clear and causing alarm: The U.S. may be on the verge of entering a recession. Even with low unemployment and a tight labor market, persistent inflation, slowing growth, and rising interest rates have many economists, investors, and policymakers girding for a sustained economic downturn. If a recession hits, will the housing market tank? After all, in the past two years the housing...
Purchasing a home can be a great investment and a lifetime of memories especially if it is done correctly. Below are some steps to help you with this process. 1. Deciding to buy a home. What goes into one’s decision to purchase? The best thing to do is to base your decision to buy on facts and not fears. If you are paying rent, you most likely can afford to buy a home. (Of course, your credit...