As a homeowner, one of the advantages you enjoy is the opportunity to build equity over time. This equity can be tapped into when you sell your property to fund your next home purchase. However, before using your equity, it’s essential to understand what it means and how it accumulates. Bankrate provides a simple… [Read More]
Beyond Mortgage Rates
The COVID-19 pandemic brought about historically low mortgage rates, prompting many homeowners to buy or refinance their homes. However, as rates doubled in 2022, some homeowners put their plans to move on hold to avoid losing the low mortgage rate on their current homes. Although rates have started to decline, they’re still higher than… [Read More]
Is Now the Right Time to Buy a Home?
After a steady decline during the winter months, mortgage rates have increased in recent weeks. This has raised concerns for potential homebuyers who find it harder to afford homes due to higher mortgage rates and prices. If you’re one of these buyers, you may wonder if it’s the right time to buy or wait until… [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]
Positive Equity Gains for Homeowners
If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates. Equity is the current value of your home minus what you owe on a loan. Because there was… [Read More]
Why a Housing Market Crash is Not on the Horizon
If you’re one of the many Americans concerned about an impending housing market crash, take heart: recent data indicates that today’s market is fundamentally different from the pre-2008 housing market, making a similar crash far less likely. One of the major differences lies in mortgage standards, which are much stricter today than before the last… [Read More]
Is Now a Good Time to Sell Your House?
As mortgage rates rose last year, the housing market experienced a slowdown, resulting in fewer home offers and longer selling periods. Unfortunately, this caused many homeowners to put their selling plans on hold. Fortunately, rates are declining, and buyers are re-entering the market. Recent data from the Mortgage Bankers Association (MBA) indicates that mortgage applications… [Read More]
FEB 2023/MARCH 2023 NEWSLETTER
In contrast with the scenic backdrop of Telluride, a brawl is brewing between local homeowners and San Miguel County. A judge recently ruled in favor of the locals and rejected re-zoning 39 acres of land for the “Diamond Ridge” project. Instead, developers working with the county aim to build a “Community Housing Zone District,” 780… [Read More]
Why Buying a Home Before Spring
Spring is traditionally known as the busiest season in the housing market, and many buyers wait to move until then. However, this strategy can also mean facing stiff competition from other buyers. So if you’re ready to buy a home, consider moving before the spring market picks up. Here’s why: Take Advantage of a Sweet… [Read More]