Manny Menelas Realtor

12/19/2022

Manny’s Food for Thought:

Mortgage Rates Are Dropping. What Does That Mean for You?

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy.

Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well by saying:

“Mortgage rates dropped even further this week as two main factors affecting today's mortgage market became more favorable. Inflation continued to ease while the Federal Reserve switched to a smaller interest rate hike. As a result, according to Freddie Mac, the 30-year fixed mortgage rate fell to 6.31% from 6.33% the previous week.”

So, what does that mean for your homeownership plans? As mortgage rates fluctuate, they impact your purchasing power by...

Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at ...

12/16/2022

Manny’s Food for Thought:

While the housing market has cooled this year, there’s still an imbalance between supply and demand. Even though buyer demand has eased because of higher mortgage rates, there’s still a deficit of homes for sale due to underbuilding over the past 15 years. If you’re wondering how this impacts your plans to buy or sell, DM me.

12/15/2022

Manny’s Food for Thought:

Planning to Retire? It Could Be Time To Make a Move.

If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs.

Here are a few things to think about when making that decision.

>>Consider How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer.

If your current home no longer meets your needs, you may have better options waiting for you.

>>Consider the Equity You’ve Gained

Additionally, if you’ve been in your home for more than a few years, you’ve likely built up significant equity...

If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs.

12/14/2022

Manny’s Food for Thought:

If you’re planning to sell your house this winter, perspective is key. Buyer demand hasn’t disappeared, but it has moderated. That means you may need to consider negotiating with buyers if you’re looking to make a move. The best advice? Work with a trusted real estate professional. DM me for guidance on selling in today’s market.

12/13/2022

Manny’s Food for Thought:

Wondering where home prices are headed in 2023? Some experts are calling for slight appreciation and others slight depreciation. But when you average the forecasts together, the expectation is for relatively flat appreciation next year. If you have questions about what's happening in our local market, DM me.

12/12/2022

Manny’s Food for Thought:

There’s no question buyers face challenges in today’s housing market, like mortgage rates that are higher today than they were at the start of the year. But if you’re able to make a purchase, buying now could be a great move. To better understand why and to discuss your options, DM me today.

12/09/2022

Manny’s Food for Thought:

The Winter Guides for Buying or Selling a Home Are Here

There’s a lot going on in the housing market right now. Let’s connect so you can get the latest digital copies of the Winter Buyer and Seller Guides.

12/08/2022

Manny’s Food for Thought:

5 Reasons To Sell Your House This Winter

There’s good reason to make your move right now if you’re ready to sell. Let’s connect to talk about the benefits of selling your house this season.

12/07/2022

Manny’s Food for Thought:

Key Advantages of Buying a Home Today

Buying a home in any market is a personal decision, and the best way to make that decision is to educate yourself on the facts, not following sensationalized headlines in the news today.

Here are three reasons potential homebuyers should consider buying a home today.

>> 1. More Homes Are for Sale Right Now

According to data from the National Association of Realtors (NAR), this year, the supply of homes for sale has grown significantly compared to where we started the year. The good news for you is that more inventory means more homes to choose from.

>>2. Home Prices Are Not Projected To Crash

Experts don’t believe home prices will crash like they did in 2008. Instead, home prices will moderate at various levels depending on the local market and the factors, like supply and demand, at play in that area. So, if you’re worried about buying a...

There’s no doubt buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make this housing market attractive for those who’ve thought about buying but have sidelined...

12/06/2022

Manny’s Food for Thought:

What’s Going on with Home Prices? Ask a Professional.

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. Nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market.

That means, moving forward, home price appreciation will continue to vary by location, with more significant changes happening in overheated areas. Here’s a quick snapshot of what the experts are saying:

Danielle Hale, Chief Economist at realtor.com, says:

“The major question on the minds of homeowners and aspiring buyers alike is what will happen to home prices. . . Soaring prices were propelled by all-time low mortgage rates which are a thing of the past. As a result, home price growth is...

If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on fac...

12/05/2022

Manny’s Food for Thought:

If you're debating renting for another year or buying a home, consider this. Rental prices have been skyrocketing for years. Buying a home with a fixed-rate mortgage gives you the opportunity to stabilize your monthly housing costs. DM me today so we can discuss how homebuying could be the alternative you’re looking for.

12/01/2022

Manny’s Food for Thought:

What You Want To Know If You’re Pursuing Your Dream of Homeownership

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. As the 2022 Millennial & Gen Z Borrower Sentiment Report from Maxwell says:

“More than half of millennials and Gen Zs plan to apply for a mortgage sometime within the next year.”

Let’s take a look at why homeownership makes the top of so many young buyers’ to-do list.

>>Top Motivators To Buy a Home

The survey mentioned above sheds light on some of the top reasons why younger generations are looking to buy a home:

• 50.95% believe the cost of renting is too high
• 48.35% think owing a home is an important wealth building tool
• 38.16% seek the sense of security owning a home provides

Your top motivator may be different than that of your friends, but they’re all equally valid...

If you’re a young adult, you may be thinking about your goals and priorities for the months and years ahead. And if homeownership ranks high on your goal sheet, you’re in good company. Many of your peers are also pursuing their dream of owning a home. The 2022 Millennial & Gen Z Borrower Sen...