23
Jul 21

Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC]

Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC] | Simplifying The Market

Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC] | Simplifying The Market

Some Highlights

  • The language of buying and selling a home may sound scary at first, but knowing how key terms relate to today’s market can help you. For example, current low mortgage rates and higher wages positively impact affordability for buyers, while home price appreciation continues to grow home equity, which sellers can use to fuel a move up.
  • Terms like appraisal (what lenders rely on to validate a home’s value) and contingencies (which buyers can minimize to make their offer stand out) directly impact the transaction.
  • You don’t need to be fluent in the language of the market to buy or sell. Instead, let’s connect today so that we can translate the process together.

Powered by WPeMatico


23
Jul 21

I Didn’t Realize How Much I Loved This Chair Until I Had to Leave It Behind (Bonus: AT Readers Get an Exclusive Discount!)


It’s supportive enough for the office, stylish enough for the dining room, and durable enough for high-traffic kitchens.
READ MORE…

Powered by WPeMatico


23
Jul 21

B&A: A Blah Brown Kitchen Transforms with Fresh Paint, Counters, and More


The new finishes make it look bigger, even though it stayed the same size.
READ MORE…

Powered by WPeMatico


23
Jul 21

This Oddly Shaped, Editor-Favorite Pillow Just Got a Luxurious Upgrade


Going to bed just got a little bit fancier.
READ MORE…

Powered by WPeMatico


23
Jul 21

7 Indoor/Outdoor Rugs That Can Handle City Grime Like Total Champs


These are some of the most gorgeous, design-forward outdoor rugs that can handle the dirt and soot of the city.
READ MORE…

Powered by WPeMatico


23
Jul 21

Amazon Shoppers Swear This Super-Versatile Mop Saves Them Time and Money


“A super-nice alternative to save time cleaning the high-traffic areas.”
READ MORE…

Powered by WPeMatico


22
Jul 21

Today’s Real Estate Market Explained Through 4 Key Trends

Today’s Real Estate Market Explained Through 4 Key Trends | Simplifying The Market

As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.

A Shortage of Homes for Sale

Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, inventory levels are starting to trend up. The latest Monthly Housing Market Trends Report from realtor.com says:

“In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housing market.”

This is good news for buyers who crave more options. But even though we’re experiencing small gains in the number of available homes for sale, inventory remains a challenge in most states. That’s why it’s still a sellers’ market, giving homeowners immense leverage when they decide to make a move.

Buyer Competition and Bidding Wars

Today’s ongoing low supply, coupled with high demand, creates a market characterized by high buyer competition and bidding wars. Buyers are going above and beyond to make sure their offer stands out from the crowd by offering over the asking price, all cash, or waiving some contingencies. The number of offers on the average house for sale broke records this year – and that’s great news for sellers.

The latest Confidence Index from the National Association of Realtors (NAR) says the average home for sale receives five offers (see graph below):Today’s Real Estate Market Explained Through 4 Key Trends | Simplifying The MarketFor buyers, the best way to put a compelling offer together is by working with a local real estate professional. That agent can act as your trusted advisor on what terms are best for you and what’s most appealing to the seller.

Home Price Appreciation

The competition among buyers is driving prices up. Over the past year, we’ve seen home price appreciation rise across the country. According to the most recent Home Price Index (HPI) from CoreLogic, national home prices increased 15.4% year-over-year in May:

“The May 2021 HPI gain was up from the May 2020 gain of 4.2% and was the highest year-over-year gain since November 2005. Low mortgage rates and low for-sale inventory drove the increase in home prices.”

Rising home values are a big part of why real estate remains one of the top sought-after investments for Americans. For potential sellers, it also means it’s a great time to list your house to maximize the return on your investment.

A Rise in Home Values and Equity

The equity in a home doesn’t just grow when a homeowner pays their mortgage – it also grows as the home’s value appreciates. Thanks to the jump in price appreciation, homeowners across the country are seeing record-breaking gains in home equity. CoreLogic recently reported:

“…homeowners with mortgages (which account for roughly 62% of all properties) have seen their equity increase by 19.6% year over year, representing a collective equity gain of over $1.9 trillion, and an average gain of $33,400 per borrower, since the first quarter of 2020.”

That’s a major perk for households to leverage. Homeowners can use that equity to accomplish major life goals or move into their dream homes.

Bottom Line

If you’re thinking about buying or selling, there’s no time like the present. Let’s connect to talk about how you can take advantage of the conditions we’re seeing today to meet your homeownership goals.

Powered by WPeMatico


22
Jul 21

B&A: A Dining Room Goes From Beige to Breathtaking in 5 Days (for $370!)


You can see this dining room from almost every point on the first floor, so it was important for the design to pack a punch.
READ MORE…

Powered by WPeMatico


22
Jul 21

The Internet Can’t Get Over How Many Pillows Amy Schumer Has On Her Bed


On July 15, comedian Amy Schumer posted a video to her Instagram captioned, “How to have a successful marriage.” The video is of her and her husband, Chris Fischer, in bed, about to go to sleep. However, before Fischer can turn off the light, Schumer approaches him with a marriage-saving piece of information. And although the content is hilarious, the internet can’t quite get over the number of pillows that made a cameo in this seconds-long clip.
READ MORE…

Powered by WPeMatico


22
Jul 21

East Fork Pottery Is Retiring One of Its Gorgeous Glazes — Here’s What to Get Before It’s Gone


Don’t miss out on adding this lovely hue to your collection.
READ MORE…

Powered by WPeMatico