3 Reasons to Buy Luxury Property THIS Year!!

For that reason, prices haven’t skyrocketed as they have in the lower and mid-tier markets. This, coupled with sensational mortgage rates, means that this may be the perfect time to purchase the luxury property you have always desired. Let’s break it down into the three major reasons to act now: 1. There are more homes from which to choose According to a recent Wall Street Journal article, inventory in the upper end is increasing, while it is decreasing at the lower and mid-tier price ranges. Here is a graph showing the average increase/decrease in inventory for the first four months Read More

BREXIT: What’s the FIXIT for U.S. Home Buyers and Sellers?

Now that much of the dust has settled and the panic has waned, let’s take a look at what impact Britain’s exit from the European Union may have on the U.S. housing market. The most immediate impact of Brexit will be on mortgage interest rates. Interest rates have remained at historic lows for the last several years. Contrary to what many experts believed, rates have remained low throughout the first half of 2016. Possible impact of Brexit on mortgage rates? In a recent article, the Washington Post explained: “Brexit has spawned the recent bout of volatility in global financial markets. Read More

Gap Between Homeowner’s & Appraiser’s Opinions Narrows Slightly

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. One major challenge in such a market is the bank appraisal. If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that closed recently) to defend the price when performing the appraisal for the bank. Every month, Quicken Loans measures the disparity between what a homeowner believes their house is worth as compared to an appraiser’s evaluation in their Home Price Perception Index (HPPI). Here is a chart showing that difference for each of the last 12 months. Read More

5 Reasons to Sell This Summer

As the temperature rises, buyers are coming out ready to purchase their dream homes. The summer is a great time to list your home for sale. Here are five reasons why: 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now According to NAR’s latest Existing Home Sales Read More

Thinking You Should FSBO? Think Again [INFOGRAPHIC]

Some Highlights:  According to NAR’s Profile of Home Buyers & Sellers: 88% of buyers look for their new home online. Using a real estate agent can net you $39,000 more than FSBO’ing. There is a long list of people that you will have to negotiate with when you decide to sell your home, using an experienced professional can help ease the process. Powered by WPeMatico

Hurry Up and List your House TODAY!!

That headline might be a little aggressive. However, as the data on the 2016 housing market begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME! The May numbers are not in yet, but the April numbers were sensational. Jonathon Smoke, Chief Economist at realtor.com, explained: “We had a triple crown of April home sales reports, so 2016 is in the pole position to earn best year of home sales in a decade.” And Freddie Mac also expressed a tremendous optimism regarding home sales for the rest of Read More

Do Homeowners Realize Their Equity Position Has Changed?

Yesterday, we reported that according to CoreLogic’s latest Equity Report, nearly 268,000 homeowners regained equity and are no longer underwater on their mortgage in the first quarter. Homes with negative equity have decreased by 21.5% year-over-year. A study by Fannie Mae suggests that many homeowners are not aware of how their equity position has changed as their home has increased in value. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, CoreLogic’s report shows that only 8% of homes are in that position.  The study also revealed Read More

74% of Households in the US Now Have Significant Equity!

CoreLogic’s latest Equity Report revealed that 92% of all mortgaged properties are now in a positive equity situation, while 74% now actually have significant equity (defined as more than 20%)! The report also revealed that 268,000 households regained equity in the first quarter of 2016 and are no longer under water. Price Appreciation = Good News for Homeowners Frank Nothaft, CoreLogic’s Chief Economist, explains: “In just the last four years, equity for homeowners with a mortgage has nearly doubled to $6.9 trillion. The rapid increase in home equity reflects the improvement in home prices, dwindling distressed borrowers and increased principal Read More

Thinking of Selling? 5 Reasons You Shouldn’t FSBO

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers. Here are the top five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal Read More

Foreclosure Rate Drops to New Post-Crisis Low [INFOGRAPHIC]

Some Highlights: According to CoreLogic, the national foreclosure rate dropped to 1.1% of all homes with a mortgage. This is the lowest percentage experienced since October 2007. April marked the 54th consecutive month of year-over-year declines in foreclosure inventory. Only 3% of homes in the United States are in serious delinquency. More and more homeowners are escaping negative equity as prices rise. Powered by WPeMatico