Wednesday, August 17, 2022 / by Nicole Solari
The real estate market in the United States is far from ideal. Between the lack of supply for new construction and renovations, to the overall rising prices of homes, people have been responding to the market in a variety of different ways. One route that people have been taking, as noticed by real estate agents, is that people will purchase their “second” home first. What this means is that instead of buying a house in their area, which might be astronomically expensive, they’ll purchase a home in a more remote area and use that as their second home.
Ability to Purchase Real Estate Faster
Real estate, especially these days, is going to be a great investment. In most cases, the faster you purchase a home, the sooner it can begin to gain equity or value. If you choose to purchase a home away from the area in which you want to reside, specifically in a remote area, you will reap the benefits of owning a home much sooner. If you live in a popular city, where ...
Monday, August 1, 2022 / by Nicole Solari
The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home.
Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price.
If you’re ready to buy a home, now may be the moment you’ve been waiting for. Partner with a real estate professional to start the homebuying process today. ...
Wednesday, July 27, 2022 / by Nicole Solari
If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.
While Growing, Housing Supply Is Still Low
Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.
The blue bars represent the years leading up to the housing crisis in 2008. As the graph shows, right before the crash, homebuilding increased significant ...
Wednesday, July 20, 2022 / by Nicole Solari
While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may also leave you wondering: should I still buy a home right now?
Greg McBride, Chief Financial Analyst at Bankrate, explains how inflation is affecting the housing market:
“Inflation will have a strong influence on where mortgage rates go in the months ahead. . . . Whenever inflation finally starts to ease, so will mortgage rates — but even then, home prices are still subject to demand and very tight supply.”
No one knows how long it’ll take to bring down inflation, and that means the future trajectory of mortgage rates is also unclear. While that uncertainty isn’t comfortable, here’s why both inflation and mortgage rates are important for you and your homeownership ...
Friday, July 1, 2022 / by Nicole Solari
Based on a recent Gallup poll, real estate has been rated the best long-term investment for nine years in a row.
Owning real estate is more than just a place to call home. It’s also an investment in your future. That’s because it’s typically a stable and secure asset that can grow in value over time.
If you’re ready to buy a home and invest in your future, reach out to a local real estate advisor. ...