Why This Housing Market Is Not a Bubble Ready To Pop

Written by 30a Beach Mortgage Syndicated User on April 22, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pricing.

Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The...

Why a Real Estate Professional Is Key When Selling Your House

Written by 30a Beach Mortgage Syndicated User on April 13, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Sellers, FSBOs, Pricing, Selling Myths.

With today’s real estate market moving as fast as it is, working with a real estate professional is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people who list their houses on their own, known as a FSBO or For Sale By Owner, has reached its lowest point since 1985 (see graph below): Here are five reasons why selling with a real estate professional makes more sense, even in today’s hot market: 1. They Know What Buyers Want To See Before you decide...

The Future of Home Price Appreciation and What It Means for You

Written by 30a Beach Mortgage Syndicated User on April 8, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing.

Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue: “. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a...

There Are Several Great Reasons To Consider Buying a Condo Today

Written by 30a Beach Mortgage Syndicated User on April 1, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, First Time Home Buyers, For Buyers, Pricing.

If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be something you’ll want to consider. Exploring Condos Could Add Options That Fit Your Budget Supply challenges are a reality across the board in today’s housing market. Broadening your home search to include condos could increase your overall pool of options. Just keep in mind, condos generally differ from single-family homes in average space and floorplans. In a recent article, Bankrate...

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

Written by 30a Beach Mortgage Syndicated User on March 31, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Buyers, Housing Market Updates, Interest Rates, Pricing.

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to the rapid increase in mortgage rates this year: Just a few months ago, Freddie Mac projected mortgage rates would average 3.6% in 2022. Earlier this month, Fannie Mae forecast mortgage rates would average 3.8% in 2022. As the chart above shows, rates have already surpassed...

What You Can Expect from the Spring Housing Market

Written by 30a Beach Mortgage Syndicated User on March 25, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Buyers, For Sellers, Housing Market Updates, Interest Rates, Pricing.

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some...

The Average Homeowner Gained More Than $55K in Equity over the Past Year

Written by 30a Beach Mortgage Syndicated User on March 22, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Sellers, Housing Market Updates, Pricing.

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you. Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. Basically, there aren’t enough homes available to meet this high buyer interest, so bidding wars are driving home prices up. When you own a home, the rising prices mean your home is worth...

This Spring Presents Sellers with a Golden Opportunity

Written by 30a Beach Mortgage Syndicated User on March 15, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Sellers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing.

If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. If that’s the case, you should know – you may be able to get the best of both worlds today. Here are four reasons why this spring may be your golden window of opportunity. 1. The Number of Homes on the Market Is Still Low Today’s limited supply of houses for sale is putting sellers in the driver’s seat. There are far more buyers in the market today than there are homes available....

Key Factors That Impact Affordability Today

Written by 30a Beach Mortgage Syndicated User on March 10, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, 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...

Why It’s Critical To Price Your House Right

Written by 30a Beach Mortgage Syndicated User on March 8, 2022. Posted in 30a Beach Mortgage, 30a Beach Mortgages, For Sellers, Pricing, Selling Myths.

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today. But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why. Pricing Your House...

Category: Pricing