When to Drop Your Asking Price

There is no question that 2017 was a seller’s market. A recent study by the National Association of Realtors, revealed that 99% of listings received their asking price. However, sellers should be careful in having exorbitant expectations on what they can fetch for their home. While housing inventory has been limited, buyers simply won’t pay…

Home Prices are Up, but so is Affordability

Housing prices continue to climb into 2017. Most experts predicted that as interest rates rose, the demand on housing would go down as fewer borrowers looked to secure financing and thus prices would level and even drop. That hasn’t been the case so far. A report released by CoreLogic shows that housing prices increased by…

Starter Home Alternatives for New Homebuyers

Housing costs continue to increase quarter after quarter nationwide. With more and more buyers entering the market as the economy continues to recover, as well as a shortage of starter homes for sale, many first-time homebuyers are finding it very difficult to purchase their first home for a reasonable price. Many builders are focusing on…

Home Values Continue to Increase

According to a study conducted by Zillow with their Home Value Index, home values are increasing at the fastest pace since 2006. Since that time, home values have increased an average of 6.5% year over year. The average median home value is now $193,800, though the median value for homes that are actually for sale…

Higher Rates Shrink Refinance Market

Interest rates underwent a massive jump on November 8th immediately following the results of the presidential election. The surprise in the results, after so many political pundits nearly guaranteed a Democratic victory, caused uncertainty in the market with a big sell-off in Treasury bonds. The sell-off of these bonds caused an increase of 49 basis…

Which is More Expensive: Renting or Buying?

A very common refrain from renters who hope to one day own a home is that they just need to wait until they can afford a mortgage. The truth of how expensive the average mortgage is compared to renting might surprise a lot of people. Many Americans have been scared away from buying a home…

5 Questions First-Time Homebuyers Should Ask Before Buying

Entering into home ownership is a big step, one of the milestones of many American’s adult lives. The excitement of such a step can overshadow the amount of planning and preparation that should be invested. Buying a home, particularly with the assistance of a home mortgage, requires that certain questions are asked. These questions should…

Builders Seeking to Lower Housing Costs

Housing prices have been on a steady increase throughout 2016. One of the primary reasons behind this increase is the lack of supply. When the Global Financial Crisis hit in 2008, the housing bubble burst and much of the building industry lost contracts. As a result, the labor force for the housing market was forced…

Fannie Mae: Buyer Confidence is Low

Fannie Mae maintains two monthly surveys. The first is called the Home Purchase Sentiment Index, or the HPSI. This reflects consumer confidence in purchasing a home or, in more general terms, whether now is a good time to get a good deal on a property. The other survey that they maintain (of many) is the…

5 Ways for Home Sellers to Improve the Value of Their Home

A house is the biggest asset that most Americans will ever own. When the time to sell arrives, it’s vital that the homeowner capitalize on their investment by getting the most money for their property. The good news is that in many markets, home prices over the last year have maintained steady growth of around…