Over the past several years, we’ve seen homes sell for unheard of prices due to a shortage of inventory combined with historically low mortgage interest rates. This imbalance between supply and demand has driven up prices and forced buyers to aggressively compete for the few homes being offered for sale. This often means waiving all… Read more »
Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale. So should you buy a new construction home or an existing home? Nationwide, there were 1.27 million active listings in September, down 13% from the previous year. According to the National Association of Realtors, that’s about 2.4 months of inventory, which… Read more »
I am often asked to estimate the total closing costs involved in purchasing a home. Many of my clients are first time homeowners and don’t have the experience of working with lenders or going through the entire escrow process. Relatively early in the real estate journey, I will request a ‘buyer net sheet’ from the… Read more »
Buying and selling a home at the same time can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it’s dwindling. You’re not alone either if you’re already feeling drained by the complex logistics of trying to sell and buy a new home… Read more »
The start of a new year always compels people to take a fresh look at their health, career, relationships, and financial goals. But with historically low mortgage rates, increased home sales and price growth, and tight housing inventory, the time is right to also make some homeownership resolutions for 2021.
“2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies,” prominent economist Daryl Fairweather said. And he’s right: most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages.
For years now, virtual home tours have helped real estate buyers far and wide find the perfect home. From long-distance military personnel being relocated, to investors expanding their portfolio, to homeowners looking for a vacation getaway, this technology makes finding a house that’s a bit out of driving distance much easier. And for real estate… Read more »
The pandemic has changed the way many of us live, work, and attend school—and those changes have impacted our priorities when it comes to choosing a home. According to a recent survey by The Harris Poll, 75% of respondents who have begun working remotely would like to continue doing so—and 66% would consider moving if… Read more »
While uncertain market conditions may give pause to some buyers and sellers, they can actually present an opportunity for those who are willing, able, and motivated to make a move.
Purchasing in a housing market with limited inventory and many competing buyers can be daunting and discouraging. This environment is known as a seller’s market where the seller has pricing power due to a large amount of demand from prospective buyers. Even as the real estate industry undergoes a shift to more virtual practices due… Read more »