Pamela Vitatoe Real Estate Agent

12/29/2025

Realtors/Real Estate,
If you're in the market for a great real estate photographer, check out photographer Chris Ryan. He does beautiful work and has reasonable prices. Check out his link below.

CRyanphotography.mypixieset.com

08/09/2023

Reluctant to list your house because you’re not sure if homes are selling right now? Based on current home sales data, roughly 11,000 homeowners are selling their homes daily. That’s over 450 an hour or eight homes every minute. Here's the key: your house won't sell if we don't list it. DM me today or call me.
734-536-7587

07/20/2023

If you’re planning to buy a home, saving for a down payment is probably top of mind. But do you know how much you need to save? Contrary to popular belief, you don't need to put down 20% unless it’s specified by your loan type or lender. The average down payment is much lower than you’d think.

DM me today so we can start the homebuying process.

06/08/2023

Now, there’s a lot of talk in the media about a potential foreclosure crisis or a rise of homeowners defaulting on their loans, but consider this. Homeowners with such good mortgage rates are going to work as hard as they can to keep that mortgage and stay in their homes. That’s because they can't go out and buy another house, or even rent an apartment, and pay what they do today. Their current mortgage payment is more affordable. Even if they downsize, with today’s higher mortgage rates, it could cost more.

Here's why this gives the housing market such a solid foundation today. Having so many homeowners with such low mortgage rates helps us avoid a crisis with a flood of foreclosures coming to market like there was back in 2008.

2. The Amount of Homeowner Equity

Second, Americans are sitting on tremendous equity right now. According to the Census and ATTOM, roughly two-thirds (around 68%) of homeowners have either paid off their mortgage or have at least 50% equity (see chart below)

06/08/2023

In the industry, the term for this is equity rich. This is significant because if you think back to 2008, some people had to make the difficult decision to walk away from their homes because they owed more on the home than it was worth.

This time, things are different because homeowners have built up so much equity over the past few years alone. And, when homeowners have that much equity, it helps us avoid another wave of distressed properties coming onto the market like we saw during the crash. It also creates an extremely strong foundation for today’s housing market.

Bottom Line: We are in one of the most foundationally strong housing markets of our lifetime because homeowners are going to fight to keep their current mortgage rate and they have a tremendous amount of equity. This is yet another reason things are fundamentally different than in 2008.

05/30/2023

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off
Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared.
Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word: “Something that is greatly desired but difficult or impossible to find.”
The pandemic profoundly changed real estate over the last few years. The demand for a home of our own skyrocketed, and people needed a home office and big backyard.
>>Waves of first-time and second-home buyers entered the market.
>>Already low mortgage rates were driven to historic lows.
>>The forbearance plan all but...

05/30/2023

Pamela Johnson - Vitatoe
oeodstprnS
w
7a3c1h0u40hi0
u
ffli
J
o
gg1f
t

6hc30h
s
29m03m09m
n
f1hu48
·
Shared with Public
The most recent data shows home prices appear to have bottomed out and are now on the rise again in many large markets. Home prices vary by local area, so it’s important to work with a local market expert. If you put your plans to move on hold because you were worried about falling prices, let’s connect because the worst home price declines are behind us.
734-536-7587

05/29/2023

05/25/2023

Did headlines about a major drop in home prices have you worried about a housing market crash? The latest data tells a very different and much more positive story. While home prices vary by market, nationally, the worst home price declines are behind us, and home prices are ticking back up in recent months. DM me or call to learn more.
734-536-7587.

05/23/2023

Are you thinking about buying a home this year? If so, you should know there’s still a limited number of homes for sale. That’s why we’re seeing an uptick in multiple offer scenarios again today. Use these tips to make sure you put your best offer forward so you can stand out from other buyers. Ready to check out options in our area? Let’s connect.