Levi Morin - Ideal Estates

07/15/2021

The housing market is changing. Let's connect so you don't miss out on today's opportunities.

07/14/2021

While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. We’re still not close to a balanced market. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thing: what does that mean for me?

>>Buyers: More Options Are Arriving, so It’s Time To Act

If you’re a buyer, more inventory coming to market is a welcome sight. More supply means more options and less competition, which could mean fewer bidding wars.

If you’re having trouble finding your next home, this news should give you the hope and motivation to keep your buying process moving forward. Experts project mortgage rates will begin increasing, which will make purchasing a home less affordable as time passes. You can still capitalize on today’s low interest rates, so stick with your search as more homes come to market.

>>Sellers: Our Supply...

An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:

07/13/2021

Here’s how this summer is stacking up against the norm and what it means for you.

>>Inventory is increasing.

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), inventory levels have been rising since February of this year.

If you’re looking to buy, some relief is on the way in the form of more homes coming to the market. Just remember, we still have less inventory than the norm, so be patient in your search.

If you’re thinking of selling, now is the time. Work with your agent to list your house before it has more competition on the market.

>>Time on the market is still shorter than normal.

If you’re looking to buy, this means you need to be prepared to move fast. Brace for a quick pace and rely on your agent to stay in-the-know on the available homes in your area.

If you’re thinking of selling, data shows your house will likely sell quickly. If you’re worried about where you’ll go once your...

In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually str...

07/12/2021

While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move.

>>Your House Will Likely Sell Quickly
According to the most recent Realtors Confidence Index released by the National Association of Realtors (NAR), homes continue to sell quickly. The report notes homes are selling in an average of just 17 days.

>>Buyers Are Willing To Compete for Your House
In addition to selling fast, homes are receiving multiple offers. NAR reports sellers are seeing an average of 5 offers, and these offers are competitive ones.

>>When Supply Is Low, Your House Is in the Spotlight
One of the most significant challenges for motivated buyers is the current inventory of homes for sale, which while improving, remains at near-record lows.

>>If You’re Thinking of Moving Up, Now May Be the Time
Over...

While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move.

07/09/2021

The amount of wealth Americans have stored in their homes has increased astronomically. On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000. When it’s time to sell, your home equity can help accomplish your goals. DM me to discuss how you can take advantage of today’s sellers’ market to get the most out of your home sale.

Some Highlights The amount of wealth Americans have stored in their homes has increased astronomically. On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000. When it’s time to sell, your home equity can help accomplish y...

07/08/2021

If you're a homebuyer, today's market requires patience and persistence. Let's connect to make sure you have an expert guide along the way.

07/07/2021

A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found:
>>“1 in 4 underestimated their buying potential by $150k or more”
>>“1 in 4 underestimated the increase in value by $100k or more”
>>“47% don’t know what a good interest rate is”

If you’re interested in buying but aren’t sure where to begin, here are three key concepts about homeownership you should understand before you get started.

>>What You Need To Know About Down Payments
Saving for a down payment is sometimes viewed as one of the biggest obstacles for homebuyers, but that doesn’t have to be the case. As Freddie Mac says, “The most damaging down payment myth—since it stops the homebuying process before it can start—is the belief that 20% is necessary.”

>>You May Be Able To Afford More Home Than You Think
As an article recently published by NAR points out, “Many young adults are underestimating...

For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found:

07/06/2021

Home prices have increased significantly over the last year, which has in turn grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels.

In more good news for homeowners, the most recent Home Price Expectations Survey – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists – forecasts home prices will continue appreciating over the next five years, adding to the record amount of equity homeowners have already gained over the past year.

Home prices are climbing today, and the data in the survey indicates they’ll continue to increase, but at rates which approach a more normal pace. Even still, the amount of household wealth a homeowner stands to earn going forward is...

Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financ...

07/05/2021

If you’re having a hard time finding a home to buy, it may be time for us to talk about a newly built home. Early indicators show new-home construction is beginning to ramp up. While new homes alone won’t be able to fix all of the inventory challenges, this does mean you’ll soon have more options as you search for a home. As a buyer, a newly built home may be exactly what you’re looking for – it’s brand new, and with builder customization options, it’s uniquely yours from the ground up.

Housing starts reached their highest level since 2006 in March of this year – an encouraging sign for the industry. While they dipped slightly in April, Evangelou reiterates that the level of housing construction is heading in a positive direction compared to recent years, “…we are currently building 24% more homes than we typically have built in April in the last couple of decades. Thus, housing construction is trending upward with housing starts likely...

If you’re thinking of buying a home, there really is no time like the present. With today’s low mortgage rates, you have a great opportunity to get more home for your money. The challenge is inventory. Like you, many buyers want to capitalize on these market conditions, and it’s leading to mor...

07/02/2021

Wishing you a happy and safe Independence Day.

07/01/2021

If you're ready to upgrade your home, summer is a great time to do so. Let's connect to get your house listed so you can find your dream home.

06/30/2021

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon?

Mortgage Rates Will Likely Increase, but Remain Low

Many experts are projecting a rise in interest rates. However, even as mortgage rates rise, the anticipated increase is expected to be modest at most, and still well below historic averages. Rates remaining low is good news for homebuyers who are looking to maximize their purchasing power.

Home Price Appreciation Will Continue, but Price Growth Will Likely Slow

Experts remain optimistic about home prices, too. Joe Seydl, Senior Markets Economist at J.P. Morgan, shares, “Homebuyers—interest rates are still historically low, though they are inching up. Housing prices have spiked during...

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what...