Andrew Borow - Your Trusted Real Estate Economics Specialist

05/08/2025

07/08/2024

Strive for greatness, and never give up on your dreams. Remember, the only limit is the one you set for yourself.

04/24/2024

According to the Consumer Financial Protection Bureau, about half of U.S. home buyers only meet with one mortgage lender before signing up for a home loan. But these borrowers could be missing out in a big way. Why? Because lenders’ offers and interest rates vary, and even nabbing a slightly lower interest rate can save you big bucks over the long haul.

In fact, the CFPB has found that a borrower taking out a 30-year fixed-rate conventional loan can get rates that vary by more than half a percent.

So to make sure you’re getting the best deal possible, meet with at least three mortgage lenders. You’ll want to start your search early (ideally, at least 60 days before you start seriously looking at homes). When you meet with each lender, get what’s called a good-faith estimate, which breaks down the terms of the mortgage, including the interest rate and fees, so that you can make an apples-to-apples comparison between offers.

04/22/2024

This applies to buying or selling your next home, adding a bathroom, or simply changing the curtains. Make your move this month!

04/22/2024

Should you find yourselves going into escrow this Spring/Summer, here are some tips on how to keep the deal from getting unnecessarily messed up.

04/21/2024

Not everyone can wait out the toughest housing market in years.

Sellers are listing homes because they need to relocate, even if it means giving up superlow mortgage rates. Empty-nesters need to move to places without stairs and with walk-in showers. Growing families that are spilling out of starter homes need to upsize.

In year three of the Federal Reserve’s high-rate policies, some home sellers and buyers are giving up waiting for the central bank to change course. With inflation still elevated, the Fed is in no rush to cut its own rates. Mortgage rates once again rose above 7% this week.

“We can’t just let our kids grow up while the Fed figures out what they think about inflation,” said Luke Bolton, who listed his home in March and expects to close soon on a purchase.

The housing market needs more sellers like these to bounce back. Existing-home sales fell in March, marking a sluggish start to spring home-buying. Sales in 2023 dropped to the lowest level since 1995.
READ THE STORY:

Some owners need to upsize, downsize and change jobs, even if mortgage rates don’t fall soon.

04/19/2024

I am available 24/7 (well not 24/7... more like 18/7...😊 but definitely the 7..... To Help you find your next home. Let's talk very soon. April May June are THE months to get this done.

04/18/2024

Now that you own the place, dress it up.

04/14/2024

Ask me about down payment assistance plans, and visit https://bit.ly/3Ueh5IW

04/13/2024

Prices for Condos/Townhomes... Now vs. Then (2016)
Reseda has risen from $342k to $841k.
Valencia has nearly doubled from $410k to $805k.
Even condominiums can build you vast amounts of equity!
Time to re-think prices.

04/11/2024

These "We'll Buy Your Home As-Is" Companies are the Worst!
FTC: "Opendoor" to Refund $62MIL to SoCal Home Sellers.
FTC sends refunds to people who lost money selling their home to an online real estate business
The FTC sends payments totaling nearly $62 million to 54,689 homeowners who sold their homes to Opendoor Labs, Inc., an online real estate company.

According to the complaint brought by the FTC, Opendoor promised to pay sellers market value for their homes while saving them money on costs.
The FTC says that Opendoor often offered sellers less money than market value and charged more than they said they would. As a result, most homeowners LOST money by selling their homes to Opendoor.

As a result of the FTC’s action, Opendoor paid $62 million and is banned from making false and misleading claims about the costs of using Opendoor’s service or how much money sellers will receive when they sell to Opendoor.

04/10/2024

It’s no secret that the U.S. housing market is tough right now, especially for first-time buyers. But there are some spots across the country where homeownership is easier to achieve, according to a new ranking from a real estate portal. The company used four metrics — rent affordability, available inventory, ratio of affordable for-sale inventory to renter households, and the share of households ages 29-43 — to come up with a list of the 10 best markets for first-time homebuyers in 2024. More affordable rent shortens the time it takes to save for a down payment, and a higher number of active for-sale listings relative to the potential homebuyer population means more options – and more bargaining power – for potential first time home buyers in those markets.
These are the 10 best markets for first-time home buyers this year:
1. St Louis, MO
2. Detroit, MI
3. Minneapolis, MN
4. Indianapolis, IN
5. Austin, TX
6. Pittsburgh, PA
7. San Antonio, TX
8. Birmingham, AL
9. Kansas City, MO
10. Baltimore, MD