Cheryl Matterson, Realtor at Realty Executives Dillon/ San Diego

07/05/2022

03/09/2022

Lic #01268853

Key Factors That Impact Affordability Today

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability. Let’s look closely at each of these components.

>>Home Prices
The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one reason affordability declined over the past year.

>>Mortgage Rates
While the current global uncertainty makes it difficult to project mortgage rates, we do know current rates are almost one full percentage point higher than they were last year. That increase in the mortgage...

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable.

03/08/2022

Lic #01268853

How Global Uncertainty Is Impacting Mortgage Rates

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, and just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks.

The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected. Here’s a look at how industry leaders are explaining the impact global uncertainty has on mortgage rates:

Odeta Kushi, Deputy Chief Economist at First American, says, “While mortgage rates trended upward in 2022, one unintended side effect of global uncertainty is that it often...

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for...

03/07/2022

Lic #01268853

Why It’s Critical To Price Your House Right

When you make a move, you want to sell your house for the highest price possible. Even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why.

Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, you could leave money on the table, which decreases your future buying power if you undervalue your house.

On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers...

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National ...

03/04/2022

Lic #01268853

Supply and Demand in Today’s Market [INFOGRAPHIC]

Today’s housing market is the direct result of low supply and high buyer demand. Here’s what that means for you and your plans to buy or sell. For buyers, expect competition, be ready to move fast, and be prepared to submit your strongest offer. For sellers, know your house will be the center of attention and that it’ll likely sell quickly and get multiple offers. If you’re ready to move, DM me to talk about our local area and how you can take advantage of today’s unprecedented housing market.

Some Highlights Today’s housing market is the direct result of low supply and high buyer demand. Here’s what that means for you and your plans to buy or sell. For buyers, expect competition, be ready to move fast, and be prepared to submit your strongest offer. For sellers, know your house will ...

03/03/2022

Lic #01268853

Are Home Prices Continuing To Rise?

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December:
>>Federal Housing Finance Agency (FHFA): 17.6%
>>S&P Case-Shiller: 18.8%
>>CoreLogic: 18.5%

Last year, home price appreciation accelerated dramatically from January to July according to all three indices. Then, it began to decelerate in August when prices appreciated at a slower pace, but it didn’t decline. Many thought that would be the beginning of a rapid slowdown in the level of home price appreciation, but as the data shows, that wasn’t the case. Instead, prices began to level off for a...

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-ye...

03/02/2022

Lic #01268853

Down Payment Assistance Programs Can Help You Achieve Homeownership

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from NAR shows, “For first-time home buyers, 29 percent said saving for a downpayment [sic] was the most difficult step in the process.”
If you’re finding that your down payment is your biggest hurdle, the good news is there are many down payment assistance programs available that can help you achieve your goals. And it’s not just first-time homebuyers that are eligible for these programs. Downpaymentresource.com notes, “You don’t have to be a first-time buyer. Over 38% of all programs are for repeat homebuyers who have...

For many homebuyers, the thought of saving for a down payment can feel daunting, especially in today’s market. That’s why, when asked what they find most difficult in the homebuying process, some buyers say it’s one of the hardest steps on the path to homeownership. Data from the National Asso...

03/01/2022

Lic #01268853

An Expert Advisor Will Give You the Best Advice in Today’s Market

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. are just a few of the ways a real estate expert is invaluable:

>>Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.
>>Experience – In an unprecedented market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changed over the past two years.
>>Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties throughout the entire transaction and advocates for your best interests.
>>Education – Knowledge is power in today’s market, and your advisor will simply and effectively explain market conditions...

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential.

02/28/2022

Lic #01268853

Millennials: Do You Need a Home with More Space?

If you’re a millennial, homebuying might be top of mind for you. While some millennials are looking to buy for the first time, you may be one of the many who are now discovering you’ve outgrown your home. If that’s the case, you’re not alone. The past two years brought about significant changes for many people, and today, homeowners are reevaluating what they truly need in a home. As a recent report from the Wall Street Journal states, "They say the pandemic and the emergence of remote work accelerated millennial home-buying trends already under way. . . . Millennials who already owned homes traded up for more space."

So, if you’re working remotely now or simply have a growing need for additional space, it may be time to move. And even if you purchased your current home sometime over the last few years...

If you’re a millennial, homebuying might be top of mind for you. Your generation is the largest group of homebuyers in the market today and has been since 2014, according to the National Association of Realtors (NAR). And while other millennials are looking to buy for the first time, you may be on...

02/25/2022

Lic #01268853

The Difference Between Renting and Owning [INFOGRAPHIC]

If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of your loan. If you’re weighing your options, remember that owning a home is a decision that has considerable financial perks. If you want to learn more, DM me so we can talk about the perks of homeownership.

Some Highlights If you’re deciding whether to rent or buy, consider the many financial benefits that come with owning a home. As a renter, you build your landlord’s wealth and face rising costs. As a homeowner, you build your own net worth and can lock in your monthly payments for the length of ...

02/24/2022

Lic #01268853

The #1 Reason To Sell Your House Today

Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.

Inventory Is at an All-Time Low
Because purchaser demand is so high, the market is running out of available homes for sale. The above-mentioned report states that the current months’ supply of inventory of homes for sale has fallen to 1.6 months. This prompts Lawrence Yun, Chief Economist at NAR, to say, “The inventory of homes on the market remains woefully depleted, and in fact is currently at an all-time low.” Odeta Kushi, Deputy Chief Economist at First American, explains it like this: “A higher velocity of sales (lower [Days on Market]) helps to explain a housing market characterized by both higher sales & lower inventory. Many resale...

Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply.

02/23/2022

Lic #01268853

How Supply and Demand Can Impact Your Buying and Selling Goals

Nationally, Demand Is High and Supply Is Very Low
The latest buyer and seller activity data from NAR indicates buyer traffic heavily outweighs seller traffic today. This shows the demand for homes is significantly greater than what’s available to purchase.

What Does This Mean if You’re a Seller?
Supply is struggling to keep pace with demand. In fact, the inventory of homes for sale recently hit an all-time low. That gives you an incredible advantage when you sell your house. With so few listings, it’s likely more potential buyers will view your house – especially if you work with an agent to price it right. That means there’s a high chance you’ll receive multiple offers or buyers will enter a bidding war for your house. And that dynamic can drive the sale price of your home up.

What Does...

In today’s housing market, there are far more buyers looking for homes than sellers listing their houses. Based on the concept of supply and demand, this means home prices will naturally rise. Why is that? When there are more people trying to buy an item than there are making that item available f...