If you are currently a renter that feels like you are priced out of the home buying market, you are certainly not alone. In fact, it is estimated that approximately 18 million Americans have been priced out of the home buying market due to higher mortgages alone this year. For more on this, check out… Continue reading Tips For Renters Priced Out Of The Home Buying Market
Category: Home Buying
Fewer Showings Per Listing
With The Federal Reserve aggressively raising interest rates to fight record-high inflation, we have certainly seen a significant slowdown in the real estate market. Perhaps one of the best indicators of this slowdown is the number of home showings per listing in the current market. According the showing management site ShowingTime, the number of home… Continue reading Fewer Showings Per Listing
Contract Cancellations Are On The Rise
Nationwide, we have been in a strong seller’s market for the past several years. In fact, many homes listed for sale ended up with multiple offers over asking price and thus resulting in bidding wars. Subsequently, it was quite rare to see sales contracts canceled. Those days are over now though. As of last week,… Continue reading Contract Cancellations Are On The Rise
What Is An Appraisal Contingency?
As a home buyer it is normal to want to pay fair market value or less for the property that you are considering. If you are obtaining a mortgage to purchase the home, your lender will certainly feel the same way. After all, lenders do not want to loan more money than an asset is… Continue reading What Is An Appraisal Contingency?
Moving To Florida
As we have discussed in previous articles, perhaps the biggest pandemic impact on the real estate market is the popularity of the virtual workspace. With many companies now allowing their employees to work from home, we have seen a record number of out-of-state moves. To view our previous article about the remote working environment and… Continue reading Moving To Florida
The Importance of Property Lines
Whether you are buying or selling a home, it is critical that you are well aware of the property lines. Property lines are imaginary boundaries that divide one property from another. As a buyer, besides wanting to know exactly what you are buying, you will also need this information for any future work that you… Continue reading The Importance of Property Lines
A New Tool To Help Renters Qualify For Mortgages
Home ownership is still “The American Dream”, yet the current economy is providing significant headwinds for many Americans desiring to build credit and ultimately purchase a home. In addition to inflationary pressures and all-time high fuel prices, rental prices have also increased substantially over the past few years. (To read more about rental price increases,… Continue reading A New Tool To Help Renters Qualify For Mortgages
Should I Wait To Buy A House?
“Should I wait to buy a house?” This is a common question being asked at cocktail parties across the country right now. After a dramatic run up in home prices over the past few years which saw record levels of home buyer demand, we have now seen a dramatic slowdown in buyer activity. In fact,… Continue reading Should I Wait To Buy A House?
The Future Of Housing With Rising Rates
Did you know? On average, home prices rose by 21% in March from a year ago. This marks the strongest March year-over-year growth on record. What was the reason for this? Most likely, this was due to pent up home buyer demand combined with more buyers entering the market in a race against expected mortgage… Continue reading The Future Of Housing With Rising Rates
What Is An Escalation Clause?
To call the real estate market of the past few years a seller’s market might be considered an understatement. With many Americans looking to relocate to larger spaces while taking advantage of historically low mortgage interest rates, the real estate market has been on fire. Add in record low inventory levels and the result is… Continue reading What Is An Escalation Clause?