Real Talk On Real Estate

02/11/2022

Real Talk on Real Estate - February Edition - https://mailchi.mp/968507bfbfc4/real-talk-on-real-estate-february-edition

11/22/2021

Will the housing market improve in 2022? - https://mailchi.mp/ea0c99e95f9e/will-the-housing-market-improve-in-2022

06/24/2021

Tips for Today's Sellers

Even in today's ultimate sellers' market, it's key to have an expert guide when you sell your house. Let's connect to optimize your home sale this summer.

06/23/2021

Homeowner Wealth Increases Through Growing Equity This Year

Home equity – the difference between the value of your home and what you currently owe – isn’t just built through your monthly principal payments. Home price appreciation plays a vital role in growing equity and, ultimately, your wealth.

CoreLogic recently published their latest Homeowner Equity Insights Report, and it shows continued growth in equity amidst record home price appreciation. The report provides several key takeaways, all of which point to rising wealth for homeowners:
>>The average equity gain of mortgaged homes during the past year was $33,400
>>The current average equity of mortgaged homes is greater than $216,000
>>There was a 19.6% increase in total homeowner equity over the past year
>>Total U.S. homeowner equity has reached nearly $1.9 trillion

In addition to being a critical tool in building wealth, a homeowner’s equity also provides significant flexibility. When you...

Building financial wealth and stability remains one of the top reasons Americans choose to own a home, and as a homeowner, your wealth often grows without you even realizing it. In a recent paper published by the Urban Institute, Home Ownership is Affordable Housing, author Mike Loftin illustrates h...

06/22/2021

Pre-Approval Makes All the Difference When Buying a Home

You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer.

Being intentional and competitive are musts when buying a home right now. 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. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.

With limited housing inventory, there are many more buyers active in the market than there are sellers, and that’s creating some serious competition...

You may have been told that it’s important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important? Especially in today’s market, with rising home prices and high buyer competition, it’s crucial to have a clear understanding of...

06/21/2021

5 Things Homebuyers Need To Know When Making an Offer

Here are five things to keep in mind when you’re ready to make an offer.

>>Know Your Numbers
Having a complete understanding of your budget and how much house you can afford is essential.

>>Brace for a Fast Pace
Today’s market is dynamic and fast-paced. From start to finish, a house for sale in today’s climate is active for roughly 2.5 weeks.

>>Lean on a Real Estate Professional
While homebuying may seem like a whirlwind process to you, local real estate agents do this every day, and we know what works. It may seem simple, but catering to what a seller may need can help your offer stand out.

>>Make a Strong, but Fair Offer
Let’s face it – we all love a good deal. In the past, offering at or near the asking price was enough to make your offer appealing to sellers. In today’s market, that’s often not the case.

>>Be a Flexible Negotiator
If you followed tip #3, you drafted the offer with...

When it comes to buying a house, you’re looking for the perfect place to call home. The problem is, in today’s market there just aren’t that many homes available to purchase. With inventory hovering near record lows and sky-high buyer demand, a multi-offer scenario is the new normal. Here are ...

06/19/2021

Housing Wealth: The Missing Piece of the Affordability Equation

Skyrocketing prices are causing some to start questioning affordability in the current housing market. Many are quick to emphasize the fact that homes today are less affordable than they were last year. Black Knight, a leading provider of data and analytics across the homeownership life cycle, just reported on the issue.

Right now, housing payments are slightly less affordable than the five-year average – but only by less than ½ a percentage point. However, they’re significantly more affordable than the 25-year average. Put another way, a buyer will likely make a slightly greater financial sacrifice to afford a home right now than if they purchased a home within the last five years. On the other hand, it also means the potential financial sacrifice is not nearly as great as what it was over the last 25 years.

Does making a sacrifice to buy a home today make financial sense in the long...

The real estate market is soaring today. Residential home values are rising, and that’s a big win for homeowners. In 2020, there was a double-digit increase in home values – a trend that’s expected to head toward similar levels this year.

06/18/2021

Owning a Home Has Distinct Financial Benefits Over Renting [INFOGRAPHIC]

When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation. On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directly from home price appreciation. If you’re feeling the challenges of a competitive market, remember that homeownership is a long-term game. Persevering today will lead to financial rewards in the future.

Some Highlights When you rent, you build your landlord’s wealth, your monthly payment depends on ever-rising rents, and you don’t benefit from home price appreciation. On the other hand, when you own your home, you build your own wealth, your monthly payment is locked in, and you benefit directl...

06/17/2021

Top Reasons to Own Your Home

This National Homeownership Month, take time to appreciate everything owning your home has to offer. Let's connect if you're ready to become a homeowner this year.

06/16/2021

Don’t Wait To Sell Your House

Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer.

High Buyer Demand

Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered “very strong” in almost every state. Homebuyers aren’t just great in number right now – they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer’s sellers.

Low Inventory of Houses for Sale

Purchaser demand is so high, the market is running out of available homes for sale. Danielle Hale, Chief Economist at realtor.com...

We’re in the ultimate sellers’ market right now. If you’re a homeowner thinking about selling, you have a huge advantage in today’s housing market. High buyer demand paired with very few houses for sale makes this the optimal time to sell for those who are ready to do so. Whatever the move y...

06/15/2021

Hope Is on the Horizon for Today’s Housing Shortage

While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on those rates are purchasing this limited supply of homes as quickly as they’re coming to market.

Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, “In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last year…for buyers, it means that while they can expect fresh new listings every week...

The major challenge in today’s housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply can’t keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates it’s a buyers’ market, but...