How To Navigate a Market Where Multiple Offers Is the New Normal

Written by Pompano Beach Mortgage Syndicated User on March 11, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pompano Beach Condo Financing, Pompano Beach Mortgage.

If you’re thinking of buying a home today, you already know that the number of homes available for sale is low. But what does that really mean for you? As a buyer, low housing supply coupled with high buyer demand means you should be prepared to navigate a highly competitive market where homes sell fast and get multiple offers. Realtor.com has this to say: “Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….” In a bidding war situation like this, doing everything you can to get ahead of the competition is a wise move. That’s because...

Key Factors That Impact Affordability Today

Written by Pompano Beach Mortgage Syndicated User on March 10, 2022. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pompano Beach Condo Financing, Pompano Beach Mortgage, Pricing.

You can’t read an article about residential real estate without the author mentioning the affordability challenges that today’s buyers face. There’s no doubt homes are less affordable today than they were over the last two years, but that doesn’t mean homes are now unaffordable. There are three measures used to establish home affordability: home prices, mortgage rates, and wages. Let’s look closely at each of these components. 1. Home Prices The most recent Home Price Insights report by CoreLogic shows home values have increased by 19.1% from last January to this January. That was one reason...

How Global Uncertainty Is Impacting Mortgage Rates

Written by Pompano Beach Mortgage Syndicated User on March 9, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

If you’re thinking about buying or selling a home, you’ll want to keep a pulse on what’s happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below): The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say it’s to be expected. Here’s a look...

Supply and Demand in Today’s Market [INFOGRAPHIC]

Written by Pompano Beach Mortgage Syndicated User on March 5, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Some Highlights Today’s housing market is the direct result of low supply and high buyer demand. Here’s what that means for you and your plans to buy or sell. For buyers, expect competition, be ready to move fast, and be prepared to submit your strongest offer. For sellers, know your house will be the center of attention and that it’ll likely sell quickly and get multiple offers. If you’re ready to move, let’s connect to talk about our local area and how you can take advantage of today’s unprecedented housing market. Content previously posted on Keeping Current Matters

Are Home Prices Continuing To Rise?

Written by Pompano Beach Mortgage Syndicated User on March 4, 2022. Posted in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pompano Beach Condo Financing, Pompano Beach Mortgage, Pricing.

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8% CoreLogic: 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals, last...

An Expert Advisor Will Give You the Best Advice in Today’s Market

Written by Pompano Beach Mortgage Syndicated User on March 2, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Having an experienced guide coaching you through the process of buying or selling a home is important in a normal market – but today’s market is far from normal. As a result, an expert real estate advisor isn’t just good to have by your side, they’re essential. Today’s housing market is full of extremes. Experts project mortgage rates will continue to rise this year, and that’s driving significant demand for homes as buyers want to make their purchases before rates climb even higher. At the same time, an absence of sellers is leading to record-low housing inventory. This imbalance in supply...

The #1 Reason To Sell Your House Today

Written by Pompano Beach Mortgage Syndicated User on February 25, 2022. Posted in For Sellers, Housing Market Updates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Almost every industry is currently struggling with supply chain disruptions. This also applies to the current U.S. housing market, where buyer demand far exceeds housing supply. Purchaser demand is very strong right now. The National Association of Realtors (NAR) just released their latest Existing Home Sales Report which reveals that sales surged in January. Existing home sales rose to a seasonally adjusted annual rate of 6.5 million – an increase of 6.7% from the prior month, with sales up in all regions. However, there’s one big challenge. Inventory Is at an All-Time Low Because purchaser...

How Supply and Demand Can Impact Your Buying and Selling Goals

Written by Pompano Beach Mortgage Syndicated User on February 24, 2022. Posted in For Buyers, For Sellers, Housing Market Updates, Pompano Beach Condo Financing, Pompano Beach Mortgage.

In today’s housing market, there are far more buyers looking for homes than sellers listing their houses. Based on the concept of supply and demand, this means home prices will naturally rise. Why is that? When there are more people trying to buy an item than there are making that item available for sale, that drives prices up. And that’s exactly the case in today’s housing market. So, knowing what’s happening with the inventory of homes for sale and the demand for housing is crucial for today’s buyers and sellers. Nationally, Demand Is High and Supply Is Very Low The latest buyer and seller...

Real Estate Voted the Best Investment Eight Years in a Row

Written by Pompano Beach Mortgage Syndicated User on February 22, 2022. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pompano Beach Condo Financing, Pompano Beach Mortgage, Rent vs. Buy.

In an annual Gallup poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best long-term investment (see graph below): If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines. Why Is Real Estate a Great Investment During Times of High Inflation? With inflation reaching its highest level...

What’s Driving Today’s High Buyer Demand? [INFOGRAPHIC]

Written by Pompano Beach Mortgage Syndicated User on February 19, 2022. Posted in For Sellers, Housing Market Updates, Infographics, Pompano Beach Condo Financing, Pompano Beach Mortgage.

Some Highlights There’s an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home. Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There’s also additional demand from millennials who are reaching peak homebuying age. If you’re thinking about selling your house, today’s demand is great news. Let’s connect to begin the process of listing your house while buyers are ready to purchase. Content previously posted on Keeping Current Matters

Category: Housing Market Updates