Tom & Karen Century 21 Realtors

10/25/2022

Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly.

To add to that sentiment, housing is typically one of the first sectors to rebound during a slowdown.

Part of that rebound is tied to what has historically happened to mortgage rates during recessions. Here’s a look back at rates during previous economic slowdowns to help put your mind at ease.

>>Mortgage Rates Typically Fall During Recessions

Historical data helps paint the picture of how a recession could impact the cost of financing a home. Looking at recessions in this country going all the way back to 1980, the graph below shows each time the economy slowed down mortgage rates...

Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would re...

10/20/2022

Rents have risen quickly due to high inflation. One benefit of homeownership is that it allows you to lock in what’s typically your largest monthly expense: your housing payment. That makes owning a home a great hedge against inflation. Ready to begin your home search? DM me.

10/18/2022

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market.

>>What Does This Inflection Point Mean for Buyers?

If you’re thinking of buying a home, you’ll have less competition and more options than you would have had last year. Enjoy having more homes to choose from in your home search and lean on a trusted real estate professional to understand how the increase in supply has also increased your negotiation power. That professional can talk you through the opportunities and challenges buyers face in today’s shifting market. You may be surprised to find they’re different than they were a year ago.

>>What Does...

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

10/13/2022

Today’s mortgage holders have more equity than ever before. Let’s connect to discuss how your equity can help you reach your homebuying goals.

10/11/2022

Equity is a shining star in today’s housing market. Why? The average equity per mortgage holder is the highest it’s ever been. That gives you a big boost to your net worth and can help fuel a move as a homeowner. If you’re curious how much equity you’ve built in your home, DM me today.

10/06/2022

Recent inventory growth means you have more options and more negotiation power when you buy a home. Let’s connect if you’re ready to take advantage of the opportunities created by today’s housing market.

10/04/2022

If you’re looking to buy your first home, you may want to consider condos. Let’s connect to explore your options.

09/29/2022

Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Here are five reasons why working with a real estate professional makes sense.

>>1. A Professional Follows the Latest Market Trends

Working with an expert real estate advisor helps ensure you can stay updated on what’s happening. They know your local area and follow national trends too.

>>2. A Professional Helps Maximize Your Pool of Buyers

Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers.

>>3. A Professional Understands the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to...

Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspect...

09/27/2022

This is an inflection point for the housing market. Over the past two years, we’ve seen a massive amount of buyer demand (showings) and not enough homes available for sale (listings). Today, supply and demand look very different. Supply is up and demand is down. If you have questions about what that shift means for you, DM me.

09/22/2022

If you're looking to buy a home, opportunity is knocking this fall. Let's connect today to get the process started.

09/20/2022

When you buy or sell a home, you're making a difference in your community. Let's connect if you're ready to make a move and make an impact.

09/15/2022

If you're thinking about buying a home today, there's welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close.

>> 1. The Return of Contingencies

The latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving their home inspection and appraisal is declining. And a recent survey from realtor.com confirms more sellers are accepting offers that include these conditions today. According to their August study:

• 95% of sellers reported buyers requested a home inspection
• 67% of sellers negotiated with buyers on repairs as a result of the inspection findings

This goes to show buyers are more able to include these conditions in their offers today and...

If you're thinking about buying a home today, there's welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considere...