Hillcreek Real Estate Group

04/22/2022

What are experts saying about today's mortgage rates?

It's essential to know what experts are saying about today's rising mortgage rates. Let's connect so we can discuss why making your move sooner rather than later could be your best plan.

www.hillcreekreg.com

04/21/2022

Why This Housing Market Is Not a Bubble Ready To Pop

What Caused the Housing Crash 15 Years Ago?
Back in 2006, foreclosures flooded the market. That drove down home values dramatically. The two main reasons for the flood of foreclosures were:
>>Many purchasers were not truly qualified for the mortgage they obtained, which led to more homes turned into foreclosures.
>>A number of homeowners cashed in the equity on their homes. When prices dropped, they found themselves in an underwater situation (where the home was worth less than the mortgage on the house). Many of these homeowners walked away from their homes, leading to more foreclosures. This lowered neighboring home values even more, and this cycle continued for years.

Why Today’s Real Estate Market Is Different

Here are two reasons today’s market is nothing like the one we experienced 15 years ago.
>>Today, Demand for Homeownership Is Real (Not Artificially Generated)
Running...

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Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream.

04/20/2022

How To Approach Rising Mortgage Rates as a Buyer

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise.

Mortgage rates play a significant role in your home search. As rates go up, they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. With mortgage rates on the rise, you’ve likely seen your purchasing power impacted already. Instead of delaying your plans, today’s rates should motivate you...

www.hillcreekreg.com

In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates w...

04/19/2022

Why Pre-Approval Is an Important Step for Today’s Homebuyers

Being intentional and competitive are musts when buying a home this season. That’s why pre-approval is so important today. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Why does that matter so much today? There are many more buyers looking for homes today than there are homes available for sale, and that’s creating some serious competition. According to NAR, the average home is getting 4.8 offers per sale. As a result, bidding wars are still common.

Your pre-approval gives you a leg up in these situations. That’s because you know exactly what you’re approved to borrow before you write your offer, and it lets the seller know you’re qualified to buy their home. This helps both you and the seller feel confident in what you’re bringing to the table. And that puts you in a better position to...

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Being intentional and competitive are musts when buying a home this season. That’s why pre-approval is so important today. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Peter Warden, Editor of The Mortgage Reports, explain...

04/18/2022

How the Appraisal and Inspection Empower You as a Homebuyer

Even in today's competitive market, it's important not to waive an appraisal or inspection. Let's connect so you can feel empowered when you submit an offer on the home of your dreams.

www.hillcreekreg.com

04/15/2022

What Is Multigenerational Housing? [INFOGRAPHIC]

If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, and more. These benefits might be why more people are choosing to live in multigenerational homes today. DM me so you can find a house that meets your changing needs and has plenty of space for you and your loved ones.

www.hillcreekreg.com

Some Highlights If you have additional loved ones coming to live with you but don’t have enough space, it may be time to consider a larger, multigenerational home. Some key benefits of multigenerational living include a combined homebuying budget, shared caregiving duties, enhanced relationships, ...

04/14/2022

On the Fence of Whether or Not To Move This Spring? Consider This.

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, let’s turn to the data.

Today, the demand for homes is significantly greater than what’s available to purchase. Since buyer demand is so high at a time when seller traffic is so low, there’s a good chance buyers will be competing for your house. According to NAR, in February, the average home sold got 4.8 offers. When buyers have to compete with one another like this, they’ll do everything they can to make their offer stand out. Selling when demand is high and supply is low sets you up for a big win.

If you’re also looking to buy a house, you may be tempted...

www.hillcreekreg.com

If you’re thinking of selling your house, it may be because you’ve heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those quest...

04/13/2022

Where Are Mortgage Rates Headed?

There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American. “You know, the fallacy of economic forecasting is: Don't ever try and forecast interest rates and or, more specifically, if you're a real estate economist mortgage rates, because you will always invariably be wrong.”

Coming into this year, most experts projected mortgage rates would gradually increase and end 2022 in the high three-percent range. It’s only April, and rates have already blown past those numbers. Freddie Mac announced last week that the 30-year fixed rate mortgage is already at 4.72%. Danielle Hale, Chief Economist at realtor.com, tweeted on March 31, “Continuing on the recent trajectory, would have mortgage rates hitting 5% within a matter of weeks. . . .” Just five days later, on April 5, the Mortgage News Daily quoted a...

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There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by Mark Fleming, Chief Economist at First American:

04/12/2022

Why a Real Estate Professional Is Key When Selling Your House

With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. That may be why the percentage of people who list their houses on their own has reached its lowest point since 1985.

Here are five reasons why selling with a real estate professional makes more sense, even in today’s hot market:

>>They Know What Buyers Want To See
Before you decide which projects and repairs to take on, connect with a real estate professional. They have first-hand experience with today’s buyers, what they expect, and what you need to do to make sure your house shows well.

>>They Help Maximize Your Buyer Pool
Real estate professionals have an assortment of tools at their disposal to ensure your house is viewed by the most buyers. You want more buyers to view your house since buyer competition can drive your final sales price...

www.hillcreekreg.com

With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people wh...