Home prices have been widely discussed over the past year, with various opinions on whether they will decrease significantly or appreciate slightly depending on location. As we approach the spring real estate market, experts continue to predict what will happen with home prices in the coming year. According to Selma Hepp, Chief Economist at CoreLogic,… [Read More]
Steer Clear of the Renting Pitfall in 2023
As a renter, you’re faced with a big decision every year: renew your lease, start a new one, or buy a home. Before you make any decisions, it’s essential to understand the actual costs of renting in the long term. Realtor.com reports that 74.2% of renters who moved in the last 12 months saw their… [Read More]
Debunking the Myth of the 20% Down Payment
Are you preparing to buy your first home? Saving up for the purchase is natural, but many prospective homebuyers worry about the down payment. The common misconception is that a 20% down payment is necessary to buy a home, but this is only sometimes the case. According to Freddie Mac, almost a third of potential… [Read More]
What Buyers Need to Know in 2023
Last year, the Federal Reserve attempted to decrease inflation, but it resulted in a rapid increase in mortgage rates from record lows in 2021, peaking at just over 7% in October. This caused some potential buyers to pause their plans. However, the inflation rate is starting to decrease, leading to a drop in mortgage rates… [Read More]
Unclear on Housing Market? Get Help
If you’re considering buying or selling a home, it’s natural to want to stay informed about what’s happening with home prices, mortgage rates, housing supply, and more. However, with so many sensationalized headlines, knowing what information is reliable can take time and effort. According to Jay Thompson, a real estate industry consultant, many housing market… [Read More]
Ways To Avoid Applying For A Mortgage
While it’s exciting to start thinking about moving in and decorating after you’ve applied for your mortgage, there are some key things to keep in mind before you close. Here’s a list of things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and… [Read More]
Financial Fundamentals for Homebuyers
Are you prepping to buy your first home? If so, one of the steps you should take early on is to ensure you’re financially ready for your purchase. Here are a few financial fundamentals you’ll need to focus on as you buy a home. Build Your Credit Your credit is one element that helps determine which… [Read More]
Mortgage Rates Are Dropping📉
Mortgage rates have been a hot topic in the housing market over the past 12 months. Compared to the beginning of 2022, rates have risen dramatically. Now they’re dropping, and that has to do with everything happening in the economy. Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains it well… [Read More]
Negotiation When You Buy a Home👌
Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper-competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers…. [Read More]
Homeownership Is an Investment🏡💰
Many people are thinking about buying a home, but with everything affecting the economy, some wonder if it’s an intelligent decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for homeownership is strong. Many prospective buyers are… [Read More]