Rod Harris Real Estate

11/12/2021

According to CoreLogic, homeowners gained nearly $51,500 in home equity on average this year. Do you know how much equity you have in your home? DM me today if you want to find out or if you’re ready to put your equity to good use and buy the home you’ve been dreaming of.

11/11/2021

VA Loans: Helping Veterans Achieve Their Homeownership Dreams

The purpose of VA home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program, “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of their service. . . .”

For over 75 years, VA home loans have provided millions of veterans and their families the opportunity to purchase their own homes. As we reflect on their sacrifice and honor our nation’s veterans, it’s important to ensure all veterans know the full extent of benefits VA home loans offer. As Jeff London, Director of the VA Home Loan Program, says, “VA loans offer an extraordinary opportunity for veterans because...

The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration says of the program:

11/10/2021

What’s Happening with Home Prices?

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

>>How much have home values appreciated over the last 12 months?
According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months. The last year has shown tremendous home price appreciation, which is resulting in a major gain in wealth for homeowners through rising equity.

>>What’s happening with home prices right now?
Indices also show that while appreciation is in the high double digits right now, that price acceleration is beginning to level off. Year-over-year...

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

11/09/2021

How Sellers Win When Housing Inventory Is Low

Here are three ways today’s low inventory will set you up for a win when you sell this season.

>>Higher Prices

With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in today’s market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.

>>Greater Return on Your Investment

Rising prices mean homes are also gaining value, which increases the equity you have in your home. In the latest Homeowner Equity Insights Report, CoreLogic explains, “In the second quarter of 2021, the average homeowner gained approximately $51,500 in...

In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today’s low inventory will set you up for a win when you sell this season.

11/08/2021

Waiting for the right time to sell? With the average house receiving nearly 4 offers, listing yours this fall means it has a great chance to get noticed by competing buyers. DM me today so we can discuss how your house can truly stand out in today’s market.

11/05/2021

Your Perfect Home Is the One You Perfect After You Buy

Don't give up the search just because you haven't found a home that checks every box. Let's connect to see which of your "must haves" can be accomplished after you purchase.

11/04/2021

Why a Wave of Foreclosures Is Not on the Way

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen.

>>There are fewer homeowners in trouble this time.
After the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank.
As of last Friday, the total number of mortgages still in forbearance stood at 1,221,000. That’s far fewer than the 9.3 million households that lost their homes just over a decade ago.

>>Most of the mortgages in forbearance have enough equity to sell their homes.
Due to rapidly rising home prices over the last two years, of the 1.22 million homeowners currently in forbearance, 93% have at least 10% equity in their homes. This...

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen.

11/03/2021

Homeowners have added to their wealth in a major way this year through their growing home equity. If you’re looking to move up or are looking to accomplish other goals, your home equity can take you there. If you’re ready to sell, DM me so we can discuss how you can use your rising equity to achieve your .

11/02/2021

Sellers Have Incredible Leverage in Today’s Market

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to latest Existing Home Sales Report from NAR, “From one year ago, the inventory of unsold homes decreased 13%. . . .”

What Does This Mean for Sellers Today?
With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because in today’s market, buyers want three things:
>>To be the winning bid on their dream home.
>>To buy before rates rise further.
>>To buy before prices go even higher.

Your Leverage Can Help You Negotiate Your Best Terms
These three buyer needs...

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:

11/01/2021

With mortgage rates rising, serious buyers want to purchase now before rates climb further. That means if you’re thinking of selling, listing before the end of the year could provide you with the best chance to get in front of competitive buyers. Do you plan to this fall? Let me know in the comments below.

10/29/2021

The appraisal and inspection are important steps in the homebuying process. When you buy, avoid the temptation to waive either one. They provide you with information about the home’s value and condition to protect your investment. DM me so we can discuss how you can be prepared for both when the time comes.