Jessica Shepard at Century 21 Leahs Lic. Real Estate Salesperson

06/14/2023

A Drop in Equity Doesn’t Mean Low Equity

Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter.

As home prices dropped slightly in the back half of 2022, equity was impacted. Based on the most recent report from CoreLogic, there was a 0.7% dip in homeowner equity over the last year. However, the headlines reporting on that change aren’t painting the whole picture. The reality is, while home price depreciation during the second half of last year caused equity to drop, the data shows homeowners still have near record amounts of equity.

Consider the total amount of tappable equity in this country going all the way back to 2005. Tappable equity is the amount of equity available for homeowners to access before hitting a maximum 80% lo...

You may see media coverage talking about a drop in homeowner equity.

06/12/2023

06/09/2023

06/08/2023

I'm always humbled by the kindness of my clients. Thank you.

See more: https://app.realsatisfied.com/Jessica-Shepard

06/08/2023

Imagine this was your client and try not to smile. :)

See more: https://app.realsatisfied.com/Jessica-Shepard

06/08/2023

I’m moved by the kindness of my clients. Thank you.

See more: https://app.realsatisfied.com/Jessica-Shepard

06/07/2023

The Main Reason Mortgage Rates Are So High

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions:

>>Why Are Mortgage Rates So High?

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). Demand for MBS helps determine the spread between the 10-Year Treasury Yield and the 30-year fixed mortgage rate. Historically, the average spread between the two is 1.72.

Last Friday morning, the mortgage rate was 6.85%. That means the spread was 3.2%, which is almost 1.5% over the norm. If the spread was at its historical average, mortgage rates would be 5.37%.

This large spread is very unusual. The good news is, that means there’s room for mortgage rates to im...

Today’s mortgage rates are top-of-mind for many homebuyers right now.

06/02/2023

June is National Homeownership Month, and it’s a perfect time to think about all the benefits that come with owning your home.

05/31/2023

Keys to Success for First-Time Homebuyers

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but you’ll have to overcome some factors that have made it more challenging in recent years. That said, if you’re looking to purchase your first home, here are two things you can consider to help make your dreams a reality.

>>Save Money with First-Time Homebuyer Programs

Being able to pay for the initial costs and fees associated with homeownership can feel like a major hurdle. Fortunately, there are a lot of public and private first-time homebuyer programs that can help you get a loan with little-to-no money upfront. And many of these programs are offered by state and local governments. To take advantage of these programs, contact the housing authority in your state and browse sites like Down P...

Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better.

05/26/2023

If you want to sell your house, consider doing it this summer.