If you have been reading this blog regularly, then you are well aware of the changing tides in the housing market. As we finish up the 2022 year, it is apparent that the housing market has almost come to a standstill. Of course, with out-of-control inflation resulting in the Federal Reserve implementing some aggressive measures… Continue reading This Could Make Home Prices Drop In 2023…
Category: Home Buying
Price Per Square Foot In Real Estate
The value of any real estate is ultimately what a buyer is willing to pay for it, particularly when it comes to cash buyers. Of course, overpaying for a property when there is a financing contingency will typically not occur due to the proper appraisal and loan approval processes. With this said, we often see… Continue reading Price Per Square Foot In Real Estate
A Pre-Approval vs. A Pre-Qualification For A Home Loan
Did you know? On average, Americans spend more time researching their next vehicle purchase and vacation options than researching mortgage lenders. In fact, a recent survey found that 72% of prospective home buyers have not shopped around for, nor have any plans to shop around for, their mortgage. By not shopping around for your mortgage,… Continue reading A Pre-Approval vs. A Pre-Qualification For A Home Loan
Investor Home Purchases Are Down
High home prices and high mortgage rates have made a significant impact on real estate investor purchases. In fact, U.S. investor home purchases fell 30.2% year-over-year in the third quarter of 2022. With the exception of Q2 2020 when the nation faced lockdowns due to the COVID-19 pandemic, this is the largest decline since The… Continue reading Investor Home Purchases Are Down
What Is An Absorption Rate In Real Estate?
If you have been following the real estate market over the past few years, then you likely are well aware of the persistently tight inventory of homes for sale. Needless to say, this tight inventory combined with strong buyer demand has resulted in dramatic home price growth for the past few years. Although the inventory… Continue reading What Is An Absorption Rate In Real Estate?
A New Conventional Loan Limit For 2023
For home buyers looking at higher end and thus more expensive homes, they may likely need to obtain a jumbo mortgage. A jumbo mortgage is a mortgage loan that typically has a high credit quality, but is in an amount above conventional conforming loan limits (CLL’s). This standard is set by the two government-sponsored enterprises,… Continue reading A New Conventional Loan Limit For 2023
Half Of The Top 10 Metro Destinations Are In Florida
Approximately 24.1% of U.S. home buyers considered moving to a different metro area in the third quarter of 2022. Not surprisingly, 5 of the top 10 metro destinations are in The Sunshine State. So just what metro markets are Americans flocking to? We share the top 10 destination metro cities along with the top origin… Continue reading Half Of The Top 10 Metro Destinations Are In Florida
The Pros And Cons Of Building Your Own Home
There is nothing quite like moving into a new construction home, particularly when you participate in its customization. Although building a new home is not necessarily an option for all home buyers, the persistent lack of inventory of homes for sale make it a more reasonable option for some. Of course, land for housing is… Continue reading The Pros And Cons Of Building Your Own Home
The Top Day Of The Week To See Home Price Reductions
A year ago you would be hard pressed to find a home listed for sale that would reduce its price. If anything, there was a good chance that there would likely be a bidding war from several buyers attempting to purchase the home. Fast forward to the present time and homes are remaining on the… Continue reading The Top Day Of The Week To See Home Price Reductions
Pros And Cons Of Paying Off Your Mortgage Early
As we have highlighted in previous articles, owning a home is one of the best ways to accumulate wealth. Since most homeowners will likely have a mortgage on the home they own, the next logical step is to pay off your mortgage. Of course, even if you happen to pay off your mortgage you will… Continue reading Pros And Cons Of Paying Off Your Mortgage Early