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This Real Estate Market Is the Strongest of Our Lifetime

Written by Pembroke Pines Mortgage Syndicated User on June 9, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing MortgagesFirst, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that...

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Oops! Home Prices Didn’t Crash After All

Written by Pembroke Pines Mortgage Syndicated User on June 6, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”Mark Zandi, Chief Economist at Moody’s Analytics:“Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner...

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Pembroke Pines Mortgage Syndicated User on May 31, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word:“Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few...

Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]

Written by Pembroke Pines Mortgage Syndicated User on May 27, 2023. Posted in For Sellers, Infographics, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Some HighlightsIf you want to sell your house, consider doing it this summer. The days are longer, the weather is warmer, and it’s a great time for sellers.If your needs have changed, now’s the time to capitalize on the low inventory and multiple offers in today’s sellers’ market.Connect with a local real estate agent today if you’re ready to sell your house and move to a home that meets your changing needs.

The Benefits of Selling Now, According to Experts

Written by Pembroke Pines Mortgage Syndicated User on May 26, 2023. Posted in For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.Here’s what industry experts are saying about why selling now has its benefits:Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):“Inventory levels are still at historic lows....

Powerful Job Market Fuels Homebuyer Demand

Written by Pembroke Pines Mortgage Syndicated User on May 19, 2023. Posted in For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below):And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace....

What You Need To Know About Home Price News

Written by Pembroke Pines Mortgage Syndicated User on May 18, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story. Here’s why using the median home price as a gauge of what’s happening with home...

The Worst Home Price Declines Are Behind Us

Written by Pembroke Pines Mortgage Syndicated User on May 17, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates, Pricing.

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren’t in a freefall. The latest data tells a very different and much more positive story. Local home price trends still vary by market, but here’s what the national data tells us.If we take a year-over-year view, home prices stayed positive – they just appreciated more slowly than they did at the peak of the pandemic. To...

Homeowners Have Incredible Equity To Leverage Right Now

Written by Pembroke Pines Mortgage Syndicated User on May 16, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time:“Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.”How Your Equity Can Help You Achieve Your GoalsThe equity you build up over the years can be used to your advantage when you...

Why Today’s Housing Market Is Not About To Crash

Written by Pembroke Pines Mortgage Syndicated User on May 14, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Pembroke Pines Condo Mortgages, Pembroke Pines Mortgage, Pembroke Pines Mortgage Rates.

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.It’s Harder To Get a Loan NowIt was much easier to get a home loan during the lead-up to the 2008 housing crisis than it is today. Back then, banks had...

Category: For Sellers