You should consider selling now. Our market has seen price increases for 11 straight years and many economic experts are saying we’re headed for a market correction. The unprecedented rise in interest rates has significantly reduced demand for homes. Recent headlines show Zillow lost over $50 million in the 3rd Quarter which looks relatively good compared to the Open Door loss of $928 million. The CEO of Redfin (which has an iBuying arm) says “When the shiitake mushrooms hit the … [Read more...]
Mortgage Rates Will Come Down, It’s Just a Matter of Time
This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. And, this month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of … [Read more...]
Should You Update Your House Before You Sell? Ask a Real Estate Professional.
More People Are Finding the Benefits of Multigenerational Households Today
If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years. As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits … [Read more...]
Top Questions About Selling Your Home This Winter
There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision. 1. Should I Wait To Sell? Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the … [Read more...]
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