The housing market is still going strong but is facing a couple of challenges that are hard to overcome. The biggest challenge is the lack of inventory on the market. Current homeowners are shying away from selling due to the fact that they currently have an excellent rate and they fear they will not find anything to buy. According to the Federal Housing Finance Agency (FHFA) the average mortgage rate...
The current market has seen a bit of a decline in the past couple of weeks. Homeowners and potential home buyers are leary with the price declines. Many potential sellers are thinking twice before listing due to the housing market downturn and rise in mortgage rates. If the market is softening, does this mean it is not a good time to sell? The housing market in 2022 was not the same as the housing...
If you are thinking of selling your home but don't think it is a great time to buy this might not be the case. It is a tough time to purchase with buyer demand and higher prices, but the incentives to sell outweigh the frustrations of being a buyer. According to NerdWallet's 2022 Home Buyer Report, 89% of current homeowners do not want to list their homes for sale right now. The majority said this was...
The new year is bringing some changes to the housing market. This winter we are seeing a shift from a booming sellers' market to a softer sellers' market. Professionals in the industry have three questions to consider when making the decision to sell your home. 1. Should I Wait To Sell? The supply of homes for sale has increased but the housing inventory is still low. It is still a seller's market...
According to the National Association of Home Builders (NAHB) mortgage interest rates are starting to stabilize. The Federal Reserve is predicted to tighten the leash when it comes to bond market deals. The last part of 2022 saw a seasonally adjusted rate of newly built single-family homes at 632,000 as of October 2022. This was a 7.5% increase from the month before but was still down 5.8% from October...
When you hear sustainable living, you think of environmentally friendly living. Even if you live in an older house, you can do small things to change it to be more environmentally friendly. Doing this is not only great for the environment but also can help you when it comes to your finances. It will not only help you save money on utility bills but will also increase the value of your home. Here are five...
Buying a new home can be stressful but adding on what kind to buy makes it even more difficult. There are so many styles and areas to look at as well as different types of homes. If you are having a hard time deciding whether to purchase a condo or a house, this article will give you the differences and pros and cons of each. A house usually refers to a single-family detached home. A house can...
The past couple of years have seen a huge seller's market put leaders in the industry say that the market is showing signs of slowing down. Buyers are shying away a little due to the uptick in mortgage interest rates and the concerns that another recession might be looming in the near future. High home prices with slower sales activities are not a great mix for those looking to sell their home. ...
The current housing market conditions are becoming a little better for potential homebuyers. According to data from the industry, the supply of homes for sale is rising which gives buyers more choices to choose from. Potential buyers do need to remember that it is still a seller's market so you should still be prepared when making an offer. Here are three tips to follow when buying a home from...
When you are a first-time home buyer it can be both stressful and exciting at the same time. This can be a life-changing event that has many bridges to cross and decisions to make. Having a lender and sales agent help you through the process is a must. Here are four things to avoid when you are buying your first home. 1. Not Planning for the Future First-time homebuyers are so excited and...
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