Across the country, homes are staying on the market for a longer period of time. Of course, with mortgage rates roughly double from where they were last year at this time, it is not entirely surprising that there is less buyer traffic. According to a recent analysis, the share of U.S. home listings that stayed… Continue reading Home Listings Are Staying On The Market Longer
Buying or selling real estate is oftentimes the largest financial transaction in the lives of most Americans. Needless to say, having a team of real estate professionals including a real estate agent, mortgage broker (if applicable), & a real estate attorney is extremely important. With this said, many buyers and sellers often come back to… Continue reading Do I Need A Real Estate Attorney?
The COVID-19 pandemic has had some long-lasting impacts on our daily lives. From where we live to how we conduct business, it seems that most aspects of life are different as compared to the beginning of 2020. Perhaps the biggest impact from the pandemic on the real estate market has been the booming popularity of… Continue reading Demand For Home Gyms Is On The Rise
Rapidly rising mortgage interest rates, record-high inflation, and now a recession are putting substantial pressure on would-be home buyers. With this said, home prices have still increased year-over-year. Of course, based on recent national headlines, you might believe that another housing collapse is on the horizon. As some examples, below are just a few of… Continue reading June Home Price Increases Cool Down
The past few years has brought upon a strong seller’s market marked by rapidly rising prices, strong buyer demand, & a resulting lack of inventory of homes for sale. In other words, it has been quite the abnormal or even irrational housing market. Naturally, this position of strength resulted in many sellers becoming overly confident… Continue reading Top 3 Mistakes Made By Novice Home Sellers
Virtually all home searches begin online these days. In fact, according to the National Association of Realtors®, 97% of home buyers used the internet in their home search. Of course, all of these searches begin with looking at photos of the property. Therefore, the importance of having professional photos that accurately showcase the property can… Continue reading Words That Sell Houses
What a difference a year makes. Heck, what a difference even a half year makes. Last year at this time, homes were selling in record time and oftentimes well above asking price. In fact, it was commonplace for a new listing to hit the market with broker remarks stating that all offers were due by… Continue reading More Sellers Are Dropping Sales Prices As Market Cools
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
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
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?