home prices: Expect the Unexpected: Anticipating Volatility in Today’s Housing Market
- 11/05/24 06:10 AM
You’ve probably noticed one thing if you’re thinking about making a move: the housing market feels a bit unpredictable right now. The truth is, from home prices to mortgage rates, we’re seeing more volatility – and it’s important to understand why. At a high-level, let’s break down what’s happening and the best way to navigate it. What’s Driving Today’s Market Volatility? Factors like economic data, unemployment numbers, decisions coming out of the Federal Reserve (The Fed), and even the presidential election, are creating uncertainty right now – and uncertainty leads to market volatility. You can see that when you look at … (0 comments)
home prices: Q&A: How Do Presidential Elections Impact the Housing Market?
- 11/01/24 08:21 AM
Even if you’re not looking to move right away, you may have questions about how the election will impact the housing market. When we look at historical trends, combined with what’s happening right now, we can find your answers. Based on historical data, mortgage rates decrease in the months before and home prices and sales increase the year after the election. The facts show Presidential elections only have a small and temporary impact on the housing market.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended … (2 comments)
home prices: Debunking Scary Myths About Buying a Home
- 10/25/24 08:01 AM
There are a number of scary myths about homebuying in today’s market. Here’s what you need to know. Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment. Don’t let scary myths delay your homebuying plans. Let's connect so you have a pro to help you separate the facts from your fears.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. … (2 comments)
home prices: How Long Will It Take To Sell Your House?
- 10/23/24 07:23 AM
As you’re getting ready to sell your house, one of the first questions you’re probably asking is, “how long is this going to take?” And that makes sense—you want to know what to expect. While every market is different, understanding what’s happening nationally can give you a good baseline. But for an even more detailed look at real estate conditions in your area, connect with a local real estate agent. They know your local market best and can explain what’s happening near you and how it compares to national trends. Here’s a look at some of the things a great agent will walk you … (3 comments)
home prices: Why Buying Now Is Worth It
- 10/18/24 07:34 AM
You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise. Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time. So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, … (4 comments)
home prices: Why a Condo Could Be Your Perfect First Home
- 10/14/24 09:42 AM
If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner. Since they're usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically have a … (3 comments)
home prices: Now’s the Time To Upgrade to Your Dream Home
- 10/07/24 03:25 PM
If you’ve been wanting to sell your house and move up to a bigger or nicer home, you’re not alone. A recent Inman survey reveals the top motivator for today’s homebuyers is the desire for more space or an upgraded home (see graph below): But there’s also a good chance you, like many other people, have been holding off on that goal because of recent market challenges. It makes sense – when you’re planning an upgrade that could increase your monthly housing costs, affordability has a huge impact on when you make your move. But there’s good news: now’s actually a … (1 comments)
home prices: The Top 3 Reasons Affordability Is Improving
- 10/04/24 01:40 PM
Affordability is based on three key factors: mortgage rates, home prices, and wages. And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, let’s talk about why now may be the perfect time to jump back in.
Contact us: PHP Houses 142 W Lakeview Ave Unit 1030 Lake Mary, FL 32746 Ph: (407) 641-1531 Fax: (407) 205-1951 email: info@phphouses.com Let’s Connect: Facebook Linkedin Twitter Instagram The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. The author does not guarantee or warrant the accuracy or completeness of the information or … (4 comments)
home prices: Home Values Rise Even as Median Prices Fall
- 10/03/24 08:57 AM
Recent headlines have been buzzing about the median asking price of homes dropping compared to last year, and that’s sparked plenty of confusion. And as a buyer or seller, it’s easy to assume that means prices are coming down. But here’s the catch: those numbers don’t tell the full story. Nationally, home values are actually rising, even if the median price is down a bit. Let’s break down what’s really happening so you can make sense of the market without getting caught up in the fear the headlines create. Homes on the Market Right Now Are SmallerThe biggest reason for the dip in … (1 comments)
home prices: Buying Beats Renting in 22 Major U.S. Cities
- 09/30/24 06:43 AM
That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below): As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country. This is a big deal if you’ve been renting for a while now. But if you don’t see your city on this list, don’t sweat it. … (1 comments)
home prices: Why Buying Now May Be Worth It in the Long Run
- 09/25/24 07:55 AM
Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll want to consider as you make your decision. As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate home price appreciation. Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home … (4 comments)
home prices: The Real Story Behind What’s Happening with Home Prices
- 09/11/24 01:36 PM
If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move. As a buyer, you might be worried about paying more than you should. And if you're thinking of selling, you might be concerned about not getting the price you're aiming for. So, here's a quick breakdown to help clear things up and show you what’s really happening with prices—whether you're thinking about buying or selling. Home Price Growth Is Slowing, but Prices Aren’t Falling NationallyThroughout the country, home price appreciation is moderating. … (2 comments)
home prices: Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List
- 09/10/24 12:42 PM
Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score, and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market. Pre-Approval Helps You Know Your Numbers … (3 comments)
home prices: The Surprising Amount of Home Equity You’ve Gained over the Years
- 09/09/24 08:53 AM
There are a number of reasons you may be thinking about selling your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s housing market – and that’s affordability. If that’s your biggest concern, understanding how much equity you have in your house could help make your decisionthat much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your HomeFirst up is homeowner tenure. That’s how long homeowners live in a house, on average, before selling or choosing to move. … (2 comments)
home prices: Are We Heading into a Balanced Market?
- 08/29/24 08:14 AM
If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know. What Is a Balanced Market?A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all … (1 comments)
home prices: What's the Impact of Presidential Elections on the Housing Market?
- 08/27/24 08:10 AM
It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead. And those unanswered thoughts can quickly spiral, causing fear and uncertainty to swirl through your mind. So, if you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move. Here’s the good news that may surprise you: typically, Presidential elections have only had a small, temporary impact on the housing market. But your questions are definitely worth answering, so you don’t have to … (4 comments)
home prices: Is Affordability Starting To Improve?
- 08/13/24 06:55 AM
Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: “Housing affordability is improving ever so modestly, but it is moving in the right direction.”Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 1. Mortgage RatesMortgage rates have been volatile this year, bouncing around from the mid-6% … (4 comments)
home prices: What Every Homeowner Should Know About Their Equity
- 08/05/24 07:09 AM
Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize. Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home. Home Equity: What Is It and How Much Do You Have?Home equity is the difference between how much your house is worth and how much you still owe on your … (2 comments)
home prices: The Biggest Mistakes Sellers Are Making Right Now
- 07/30/24 12:26 PM
The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity at the same time the supply of homes for sale is growing. And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them when you sell. 1. Overpricing Your House Many sellers set their asking … (3 comments)
home prices: Are Home Prices Going To Come Down?
- 07/29/24 08:43 AM
Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means. Here’s what Danielle Hale, Chief Economist at Realtor.com, says: “In stock market terms, a correction is generally referred to as a 10 to 20% drop in prices . . . We don't have the same established definitions in the housing market.”In the context of today’s housing market, it doesn’t mean home prices are going to fall dramatically. … (2 comments)
You’ve probably noticed one thing if you’re thinking about making a move: the housing market feels a bit unpredictable right now. The truth is, from home prices to mortgage rates, we’re seeing more volatility – and it’s important to understand why.
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