If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is ca ..read more

If you’re considering buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move. The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know. The Latest on Mortgage Rates Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is co ..read more

According to recent data from Fannie Mae, almost 1 in 4 people still think home prices are going to come down. If you’re one of the people worried about that, here’s what you need to know. A lot of that fear is probably coming from what you’re hearing in the media or reading online. But here’s the thing to remember. Negative news sells. That means you may not be getting the full picture. You may only be getting the clickbait version. As Jay Thompson, a Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with ex ..read more

Over the past year or so, many people have talked about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says: “We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.” Here’s the la ..read more

You may have seen reports in the news recently saying it’s more affordable to rent right now than to buy a home. While that may be true in some markets, if you just look at typical monthly payments, home equity is one thing that the numbers aren’t factoring in. Here’s a look at how big of an impact equity can have and why it’s worth considering as you decide. What the Headlines Are Based on The graph below uses national data on the median rental payment from Realtor.com and median mortgage payment from the National Association of Realtors (NAR) to compare the two options. As the graph shows, e ..read more

If you’ve got a move on your mind, you may wonder whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question. The housing market has a longstanding relationship between mortgage rates and buyer demand. Typically, the higher the rates are, the lower the buyer demand. That’s because some people who want to move will hesitate to take on a higher mortgage rate for their next home. So, they decide to wait it out and put their plans on hold. But when rates start to come down, things change. It goes from l ..read more

Have you been saving up to buy a home this year? If so, you know many expenses are involved – from down payment to closing costs. But did you also know your tax refund can help you pay for some of these expenses? As Credit Karma explains: “If one of your goals is to stop renting and buy a home, you’ll need to save up for closing costs and a down payment on the mortgage. A tax refund can give you a start on the road to homeownership. If you’ve already started to save, your tax refund could move you down the road faster.” While how much money you may get in a tax refund will vary, having a gen ..read more

There’s no arguing it: affordability is still tight. If you’re trying to buy a home, that may mean you need to look at smaller houses to find one that’s still within your budget. But there is a silver lining: builders are now focused on building these smaller homes and offering incentives. That can help give you more options that fit the bill. Newly Built Homes Are Trending Smaller During the pandemic, homebuyers wanted (and could afford) larger homes – and builders delivered. They focused on bigger homes so people had more space to work from home, a home gym, bonus rooms for virtual school, a ..read more

When mortgage rates spiked over the last few years, some homeowners put their plans to move on pause. Maybe you did, too, because you didn’t want to sell and take on a higher mortgage rate for your next home. But is that still the right strategy for you? In today’s market, data shows more homeowners are getting used to where rates are and thinking it may be time to move. As Mark Zandi, Chief Economist at Moody’s Analytics, explains: “Listings are up a bit as life events and job changes are putting increasing pressure on locked-in homeowners to sell their homes. H ..read more

You may have heard headlines in the news lately about real estate agents and discussions about their commissions. And if you’re following along, it can be pretty confusing. But here’s what you need to know—expert advice from a trusted real estate agent is more priceless now than ever. And here’s why. A real estate agent does a lot more than you may realize. Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress of your largest purchase ..read more