Alyssa Hudson Real Estate

10/05/2022

Here’s a 📸 snapshot 📸 of interest rates and how they can affect your monthly mortgage payment.

We are currently hitting the 7s now 😯 and it’s likely we will be in the 8s by the end of this year!

Interest rates on a mortgage directly impacts a mortgage payment:

⬆️ higher interest rates = ⬆️ higher mortgage payments

⬆️ higher interest rates = ⬇️💰lower amount of money you can borrow

⬇️ lower interest rates = ⬆️💰higher amount of money you can borrow

For most people, a mortgage is an essential tool for purchasing a house. However, it’s important to understand your payments, which include the principal (amount you borrowed), interest, taxes, and insurance.

Having 20% down is desirable, mostly because if your down payment is less than 20%, you will have to take out private mortgage insurance (PMI). This will unfortunately make your monthly payments higher. Although it’s desirable, it’s not always achievable or necessary, depending on your situation.

Save this post for later! 🙌🏼

08/08/2022

We offer a TON as a team, and I thought I would just share how much we take care of our clients. From free home inspections and pest reports, to free home staging and professional cleaning... and much more! Take a look through our Home Sellers Guide :)

07/21/2022

“Should we buy a home with inflation being so high?” This is a question I get asked all the time, so I’m here to shed some light.
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“While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You are no doubt feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now?
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No one knows how long it’ll take to bring down inflation, and that means the future trajectory of mortgage rates is also unclear. While that uncertainty isn’t comfortable, here’s why both inflation and mortgage rates are important for you and your homeownership plans.
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When you buy a home, the mortgage rate and the price of the home matter. Higher mortgage rates impact how much you’ll pay for your monthly mortgage payment – and that directly affects how much you can comfortably afford. And while there’s no denying it’s more expensive to buy and finance a home this year than it was last year, it doesn’t mean you should pause your search. Here’s why:
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In an inflationary economy, prices rise across the board. Historically, homeownership is a great hedge against those rising costs because you can lock in what’s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. Not to mention, as home prices continue to appreciate, your home’s value will too.
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In a nutshell, your home search doesn’t have to go on hold because of rising inflation or higher mortgage rates. There’s more to consider when it comes to why you want to buy a home. In addition to shielding yourself from the impact of inflation and growing your wealth through ongoing price appreciation, there are other reasons to buy a home right now like addressing your changing needs and so much more.” -KCM
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07/06/2022

05/25/2022

Check it out!
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I talk about homeowner equity at one point saying, “The report finds that the average homeowner has gained $55,300 in equity over the past year.” This is the for the ENTIRE United States. California is a very different story (and so is the Central Coast).
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A new report shows that “The average homeowner in California gained $117,000 in equity last year alone. According to CoreLogic, less than one percent of California homeowners are underwater on their mortgages, the lowest in the nation.”

05/20/2022

🏡OPEN HOUSE🏡
SATURDAY, MAY 21st, 2022 from 11am-2pm 🎉