Suzann Proffitt, Realtor

01/10/2023

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a major shift as economic uncertainty and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated ...

10/28/2022

If you’re concerned we’re making the same mistakes that led to the housing crash, the graphs above should help alleviate your fears. Concrete data and expert insights clearly show why this is nothing like the last time.

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to...

09/09/2022

Whether you’re looking to buy your first home, move up to a larger home, or even downsize, you need to know what’s happening in the housing market so you can make the most informed decision possible. Let’s connect to discuss your goals and determine the best plan for your move.

If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow?

07/12/2022

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news.

Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior. But why is this recent dip such good news for homebuyers? As Nadia Evangelou at NAR explains, “According to Freddie Mac, the 30-year fixed mortgage rate dropped sharply by 40 basis points to 5.3 percent. . . . As a result, home buying is about 5 percent more affordable than a week ago. This translates to about $100 less every month on a mortgage payment.”

That’s because when rates go up (as they have for the majority of this year), they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. The inverse is also true. A decrease in mortgage rates means an increase in your purchasing power.

If your home doesn’t meet your needs, this may be the opportunity you’ve been waiting for. DM me to see how you can benefit from the current drop in mortgage rates.

Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news.

06/30/2022

Freddie Mac announced Wednesday that on-time rental payments would be included in its underwriting system starting July 10.

06/18/2022

🪧🏡Open House!🏡🪧
🗓Saturday June 18th 12:15-3:00
🗓Sunday June 19th 11:00 - 2:00

📍1355 Pleasant Hills St | Escondido 92026
4 🛌 2🛁 | 1236 sq ft
$740,000
Call me today for more info or a private tour.
📲 (760) 594-1937

06/01/2022

Pro tip: don’t sell your home without asking these questions!

Getting the right real estate agent is probably the most important thing you can do to sell your home. A good real estate agent will make the process easy and relatively painless. A bad real estate agent… well, you’ve heard the horror stories.

That’s why asking these questions during agent interviews is so important.

05/18/2022

Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans. Today, buyers are either making the decision to buy now before rates climb higher or waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.

One factor that could help you make your decision to buy now is how today’s mortgage rates compare to historical data. Mark Fleming at First American explains, “An average 30-year, fixed mortgage rate of 5.5 percent is still well below the historical average of nearly 8 percent.” If you’re deciding whether to buy now or wait, this is important context to have. Today’s mortgage rate still gives you a window of opportunity to lock in a rate that’s comparatively lower than decades past.

The buyers who are springing into action now are also eager to get ahead of any further increases. Why? When mortgage rates climb, they impact the monthly mortgage payment you’ll have on the home you’re buying. Basically, it’ll likely cost you more to buy a home if you wait. Experts say mortgage rates will rise (although more moderately) in the months ahead.

So, if you’re ready and financially able to buy now, it may make more sense to get off the fence and make your purchase soon. As Nadia Evangelou at NAR says, “With even higher interest rates on the horizon, I don’t see any reason to hold off from purchasing a home right now. If you feel financially secure, you should start looking for a home.”

To decide what move is best for you, DM me so you have expert advice on your side.

If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.

05/15/2022

When you are looking to buy a property, there are many things you need to take into account.
The most important factor is whether or not the property is right for you, which strictly depends on your needs and wants. But there are also other factors to consider, such as the price of the property and how much money you can afford to spend on it. All of these can be the makers or breakers of the deal!

What are YOUR deal-breakers? Comment the emoji below!

05/13/2022

According to a recent survey NAR, one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

The latest data from realtor.com shows the number of listings coming onto the market has increased since the start of the year. And according to realtor.com, this growth is expected to continue. Their research finds the majority of potential sellers plan to list their homes over the next six months.

But while new listings are increasing, it’s important to know they’re also selling quickly. The latest Realtors Confidence Index from NAR shows the median days on market for recently sold homes since the beginning of the year. The time on market has decreased month-over-month. That means homes are selling even faster than they did the previous month.

While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings and the expectation more sellers will list their homes in the coming months is great news if you’ve had a hard time finding a home that fits your needs. Just remember, those new listings are going fast. That means you’ll want to keep your foot on the gas and be ready to act if you find a home you love this season. DM me so you can stay up to date on the latest listings in our market, so you can be ready to move fast when you find the one that’s right for you.

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.

05/09/2022

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power.

Today, the average 30-year fixed mortgage rate is above 5%, and in the near-term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power.

>>Mortgage Rates Play a Large Role in Your Home Search
You’re more likely to exceed your target payment range as mortgage rates increase unless you pursue a lower home loan amount. If you’re ready to buy a home, use this as your motivation to purchase now so you can get ahead of rising rates before you have to make the decision to decrease what you borrow in order to stay comfortably within your budget.

Even small increases in mortgage rates can impact your purchasing power. If you’re in the process of buying a home, it’s more important than ever to have a strong plan. DM me so you have a trusted real estate advisor and a lender on your side who can help you strategize to achieve your dream of homeownership this season.

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on ...

05/06/2022

🏡🎈Open house 🎈🏡
📍30503 Star Haven Drive | Valley Center 92082
🗓 Sunday, May 8th | 11 am - 2pm
Looking for the perfect Mother's Day Gift??💟🌷Bring her by to see this beautiful, peaceful home.
Can't wait to see you there! If you would like to have a personal, private tour please don't hesitate to contact me.
📲 (760) 594-1937
https://suzannproffitt.professionalrealtyservices.com/listing/CA/Valley-Center/30503-Star-Haven-Drive-92082/153542443