The Number of Homes for Sale Is Increasing
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
15h ago
There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up. There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023):   As Realtor.com explains: “There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive ..read more
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Home Prices Are Climbing in These Top Cities
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
4d ago
Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop. The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see graphs below): As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year. But here's what you need to know now. As of February, when ..read more
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How Buying or Selling a Home Benefits Your Community
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
1w ago
If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too. Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below): When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Ho ..read more
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Tips for Younger Homebuyers: How To Make Your Dream a Reality
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
1w ago
If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you. While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side. Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hu ..read more
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What Is Going on with Mortgage Rates?
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
2w ago
You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead. Economic Factors That Impact Mortgage Rates When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s wh ..read more
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Foreclosure Numbers Are Nothing Like the 2008 Crash
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
3w ago
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
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The Best Way To Keep Track of Mortgage Rate Trends
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
3w ago
If you’re thinking about 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 answ ..read more
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Ways To Use Your Tax Refund If You Want To Buy a Home
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
1M ago
Have you been saving up to buy a home this year? If so, you know there are a number of expenses involved – from your 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 ge ..read more
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Should I Move with Today’s Mortgage Rates?
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
1M ago
When mortgage rates spiked up 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.&n ..read more
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Don’t Let Your Student Loans Delay Your Homeownership Plans
Hillshire Realty Group | Portland Real Estate Blog
by Caitlin Beckert
1M ago
If you have student loans and want to buy a home, you might have questions about how your debt affects your plans. Do you have to wait until you’ve paid off those loans before you can buy your first home? Or is it possible you could still qualify for a home loan even with that debt? Here’s a look at the latest information so you have the answers you need. A Bankrate article explains: “Roughly 60 percent of U.S. adults who have held student loan debt have put off making important financial decisions due to that debt . . . For Gen Z and millennial borrowers alone, that n ..read more
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