mel ahrens kelly right real estate: Selling Your House This Spring - Checklist
- 02/25/23 09:54 PM
Selling Your House This Spring Checklist Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list., there are specific things you can add to your sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. Let’s connect so you have advice on what you may want to do to get your house ready to sell this season. … (5 comments)
mel ahrens kelly right real estate: Make Your Dream of Homeownership a Reality
- 02/25/23 01:31 PM
Make Your Dream of Homeownership a Reality According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits so the interest is understandable. It is not likely all 28 million Americans will accomplish that goal in 2023. Experts project a total of around five million homes will be sold in 2023. Why is there such a big difference? It’s partly because there can be challenges to buying a home. In the same survey, when asked, “Which … (1 comments)
mel ahrens kelly right real estate: Two Big Issues Facing the Housing Market in Early 2023
- 02/25/23 12:11 PM
Two Big Issues Facing the Housing Market in Early 2023 The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break down these two big issues in today’s housing market. Rate-Locked Homeowners According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):
But today, the typical mortgage rate offered to buyers is over 6%. As … (3 comments)
mel ahrens kelly right real estate: 2023 Spring Housing Market Could Be a Sweet Spot for Sellers
- 02/20/23 03:59 PM
2023 Spring Housing Market Could Be a Sweet Spot for Sellers Some Highlights The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy. The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market. The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, let’s connect today. … (2 comments)
mel ahrens kelly right real estate: What’s Going on with Home Prices?
- 02/20/23 11:29 AM
What’s Going on with Home Prices? The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices. Local price trends still vary by market. Markets, where home prices increased dramatically, are seeing larger price fluctuations. The Columbia Gorge region is NOT seeing dramatic pricing variability. The local market is certainly being impacted though, depending on location and market segment. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal … (1 comments)
mel ahrens kelly right real estate: Why It’s Easy To Fall in Love with Homeownership
- 02/20/23 01:20 AM
Why It’s Easy To Fall in Love with Homeownership No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours. Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us. As the most recent State of the American Homeowner from Unison puts … (2 comments)
mel ahrens kelly right real estate: What You Should Know About Closing Costs
- 02/20/23 01:00 AM
Closing Cost Facts You Should Know Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. What Are Closing Costs? People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate: “Closing costs are the fees and expenses you must pay before becoming the … (3 comments)
mel ahrens kelly right real estate: How To Win as a Buyer in Today’s Housing Market
- 02/20/23 12:58 AM
Win as a Buyer in Today’s Housing Market Some Highlights In today’s housing market, you can still be the champion if you have the right team and strategy. To win as a buyer, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Let’s connect today to make your game-winning play. … (1 comments)
mel ahrens kelly right real estate: Staying Up-To-Date On Mortgage Rates
- 02/17/23 11:37 AM
Mortgage rates change daily. Here is a website to see a quick summary of changes, on average, nationwide, from the prior day, week, month, and year. It is just a quick way to get an overview of mortgage rate activity/trends. The red arrows mean an increase in rates; the green arrows indicate a decrease in rates. Just an FYI if you want to track mortgage rate trends. Of course, you need to speak with your lender to find out their rates, as they will likely differ from the averages shown in the chart. Take care,Mel This is the chart for Feb 17, 2023. … (0 comments)
mel ahrens kelly right real estate: Why Today’s Housing Market Isn’t Headed for a Crash
- 02/09/23 11:42 PM
Why Today’s Housing Market Isn’t Headed for a Crash 67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008. Back Then, Mortgage Standards Were Less Strict During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Banks were creating artificial demand by lowering lending standards and making … (4 comments)
mel ahrens kelly right real estate: HOOD-RIVER BRIDGE 4-DAY CLOSURE MAY 19-22, 2023
- 01/30/23 07:41 PM
The Hood River-White Salmon Interstate Bridge will be closed to all traffic for four consecutive days, May 19-May 22, 2023. Work crews will perform a complete replacement and adjustment of the counterweight ropes. A big project with a big impact on traffic. More detailed information on the closure is available from the Port of Hood River. Originally constructed in 1924, the bridge is beyond its design life, obsolete, and insufficient for modern vehicles and marine freight. During a 3-day closure in 2022, the bridge replacement partners created a video describing the impacts of such closures and the urgent need for replacement funding, viewable … (1 comments)
mel ahrens kelly right real estate: Think Twice Before Waiting for 3% Mortgage Rates
- 01/27/23 09:23 AM
Think Twice Before Waiting for 3% Mortgage Rates Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans. Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares: “While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing … (2 comments)
mel ahrens kelly right real estate: What Past Recessions Tell Us About the Housing Market
- 01/27/23 09:19 AM
What Past Recessions Tell Us About the Housing Market It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says: “Two-in-three economists are forecasting a recession in 2023 . . .” As talk about a potential recession grows, you may be wondering what a recession could mean for the … (1 comments)
mel ahrens kelly right real estate: Key Terms To Know When Buying a Home
- 01/19/23 10:56 PM
Key Terms To Know When Buying a Home Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the homebuying process. Let’s connect so you have expert answers for any questions as they come up. … (4 comments)
mel ahrens kelly right real estate: Pre-Approval in 2023: What You Need To Know
- 01/19/23 02:26 PM
Pre-Approval in 2023: What You Need To Know One of the first steps in your home-buying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains: “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to borrow, and what your rate could be.” Basically, pre-approval gives you critical information about the home-buying process that’ll help you understand your options and what you may be able to borrow. How does it work? As part of … (2 comments)
mel ahrens kelly right real estate: Planning to Retire? It Could Be Time To Make a Move.
- 12/18/22 11:42 PM
Planning to Retire? It Could Be Time To Make a Move. If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that decision. Consider How Long You’ve Been in Your Home From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according … (0 comments)
mel ahrens kelly right real estate: More Negotiation Power When You Buy a Home Today?
- 12/18/22 11:39 PM
More Negotiation Power When You Buy a Home Today? Did the frequency and intensity of bidding wars over the past two years make you put your home search on hold? If so, you should know the hyper-competitive market has cooled this year as buyer demand has moderated and housing supply has grown. Those two factors combined mean you may see less competition from other buyers. And with less competition comes more opportunity. Here are two trends that may be the news you need to reenter the market. 1. The Return of Contingencies Over the last two years, more buyers were willing to skip important steps … (1 comments)
mel ahrens kelly right real estate: 2023 Housing Market Forecast
- 12/16/22 10:10 PM
2023 Housing Market Forecast Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023. Sources: realtor.com Home Price Expectations Survey (HPES) National Association of Realtors (NAR) Mortgage Bankers Association (MBA) Fannie Mae Freddie Mac Zelman & Associates Greg McBride, Chief Financial Analyst, Bankrate … (2 comments)
mel ahrens kelly right real estate: Selling? Today’s Housing Supply Gives You Two Opportunities
- 12/16/22 09:48 PM
Ready To Sell?Today’s Housing Supply Gives You Two Opportunities. At first glance, the increase in housing supply compared to last year may not sound like good news for prospective sellers, but it actually gives you two key opportunities in today’s housing market. An article from Calculated Risk helps put the inventory gains the market has seen in 2022 into perspective by comparing it to recent years (see graph below). It shows supply has surpassed 2021 levels by 58%. But the further back you look, the more you’ll understand the bigger picture. And if you go all the way back to 2019, the last normal year in real … (3 comments)
mel ahrens kelly right real estate: Homeownership Is an Investment in Your Future
- 12/11/22 11:28 PM
Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for homeownership is strong. Many prospective buyers are waiting for the volatility in mortgage rates to subside, as well as for a clearer picture of the economic outlook.” If you’re in that position, remember that it’s important to consider not just what’s happening today but also what benefits you … (3 comments)
Selling Your House This Spring Checklist
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