Monday, November 30, 2020 / by Byron Brenes
Buying a home can be intimidating if you’re not familiar with the terms used throughout the process.
To point you in the right direction, here’s a list of some of the most common language you’ll hear along the way.
The best way to ensure your home buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction with ‘the heart of a teacher’ by putting your needs first. ...
Friday, November 27, 2020 / by Byron Brenes
Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match.
Here are seven great reasons not to wait to sell your house this holiday season:
1. Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan.
2. Purchasers who look for homes during the holidays are serious ones, and they’re ready to buy.
3. You can restrict the showings in your house to days and times that are most convenient for you, or even select virtual options. You’ll rem ...
Thursday, November 26, 2020 / by Byron Brenes
This year’s record-low mortgage rates sparked a high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why.
According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):
“The length of time spent searching for a home continues to grow.”
The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Asso ...
Wednesday, November 25, 2020 / by Byron Brenes
With COVID infection rates exploding and hospitalization rates rising as we go into the cold winter months, the risk this poses to our recovering housing market is a question that should be addressed. In a previous article, I identified infection rates during the winter months as one of the economy’s high-risk variables.
Before COVID-19 hit our shores, we were trending at 10% growth, working at cycle highs in demand. The housing heat months for the MBA purchase application data are from the second week of January to May’s first week. Typically, after May, total volumes fall as seasonality kicks in. We had double-digit growth until March 18.
?Then COVID-19 hit and we had nine consecutive weeks of year-over-year declines. The fear of the virus, the stay-at-home orders, a collapsing stock market and a rising financial stress index all played a part in the market’s rapid decimation. Four weeks into the decline, the market stabilized, and the rate of decline stoppe ...
Tuesday, November 24, 2020 / by Byron Brenes
No homes for sale in your area? Then just pick out a property and call up the owner. You could also check obituaries, dive into local property records, or head to social media for potential homes to buy. At least that’s what many real estate pros are doing.
“Creativity is key in this type of market,” says Adrienne Allen, head of real estate at homebuying platform Homie. “Go all out and never underestimate the power of something simple like a greeting card.”
Allen says her personalized greeting cards have been a successful way of reaching homeowners and convincing them to sell in today’s inventory-strapped market, which has just a 3.6-month supply of properties as of September. It’s the third-lowest level since the Census Bureau began tracking in 1963.
“With such little inventory, more and more people are looking to find homes that are not actively on the market,” Allen says.
Ryan Waller, a real estate agent with Home Groupe ...