real estate: 9.5 Tips for Buying and Selling Your Home at the Same Time
- 09/11/21 02:55 PM
Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it's dwindling.¹ You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.
Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, especially if you live in an unpredictable market with plenty of competitors. Unfortunately, waiting out a competitive housing market isn’t always the … (3 comments)
real estate: How to Bridge the Appraisal Gap in Today’s Real Estate Market
- 07/16/21 02:54 PM
If you’re searching for drama, don’t limit yourself to Netflix. Instead, tune in to the real estate market, where the competition among buyers has never been fiercer. And with homes selling for record highs,1 the appraisal process—historically a standard part of a home purchase—is receiving more attention than ever.
That’s because some sellers are finding out the hard way that a strong offer can fizzle quickly when an appraisal comes in below the contract price. Traditionally, the sale of a home is contingent on a satisfactory valuation. But in a rapidly appreciating market, it can be difficult for appraisals to keep pace … (1 comments)
Among its many impacts, COVID-19 has had a pronounced effect on the housing market. Low home inventory and high buyer demand have driven home prices to an all-time high.1 In the Tampa Bay MSA area the average sale price of a single family home increased 26.2% from April 2020 to April 2021. This has given an unexpected financial boost to many homeowners during a challenging time. However, for some renters, rising home prices are making dreams of homeownership feel further out … (1 comments)
real estate: The New Normal: Strong Housing Market Expected to Continue into 2021
- 11/12/20 04:18 PM
“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said.1 And he’s right: most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages.
But, rather than a slowdown, we are continuing to experience a surprisingly robust real estate market across the country. And experts estimate that these conditions are likely to last well into the new year. Fannie Mae Senior VP and Chief Economist Doug Duncan predicts that existing home sales … (4 comments)
real estate: 5 Secrets Buyers and Sellers Must Know About Virtual Home Tours
- 10/16/20 11:51 AM
For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. From long-distance military personnel being relocated, to investors expanding their portfolio, to homeowners looking for a vacation getaway, this technology makes finding a house that’s a bit out of driving distance much easier. And for real estate agents, virtual tours have been a useful way to help buyers with their home search and to assist sellers in creatively marketing their listings.
Because of the pandemic, virtual home showing options recently experienced a huge spike in popularity. One survey found that nearly 33% of recent … (1 comments)
real estate: Lowest Mortgage Rates in History: What It Means - Homeowners & Buyers
- 08/14/20 11:23 AM
In July, the average 30-year fixed-rate mortgage fell below 3% for the first time in history.1 And while many Americans have rushed to take advantage of this unprecedented opportunity, others question the hype. Are today’s rates truly a bargain?
While average mortgage rates have drifted between 4% and 5% in recent years, they haven’t always been so low. Freddie Mac began tracking 30-year mortgage rates in 1971. At that time, the national average was 7.31%.2 As the rate of inflation started to rise in the mid-1970s, mortgage rates surged. It’s hard to imagine now, but the average U.S. mortgage rate reached a … (5 comments)
real estate: Is Now a Good Time to Buy or Sell Real Estate?
- 07/08/20 04:39 PM
Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year.1
Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season.2
But given safety concerns and the current economic climate, is it … (1 comments)
real estate: {Quick Question} What Do You Think Will Happen When Rents Fall?
- 09/24/15 04:02 AM
Check out this story from Forbes.com via Florida Realtors weekly newsline: Surging rental income likely to slowWASHINGTON – Sept. 22, 2015 – It's a good time to be an investor in a rental property. Total rental income – rents collected from tenants – climbed from $60 billion in 2007 to more than $130 billion today. But investors shouldn't expect those soaring rental incomes to stick around for much longer, says Lawrence Yun, chief economist of the National Association of Realtors® (NAR). Rental costs are rising quickly as rental vacancy rates drop to their lowest level in three decades. Investors of rental properties have been … (2 comments)
Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it's dwindling.¹ You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.
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