What's my home worth?
21 posts tagged with SRAR:
December 10, 2018
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily throughout 2019.How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly. But don’t let the prediction that rates will increase stop you from purchasing your dream home this year!Let’s take a look at a historical view of interest rates over the last 45 years.Bottom Line
Be . . .
December 03, 2018
Here are four great reasons to consider buying a home today instead of waiting.1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Insight report revealed that home prices have appreciated by 5.6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4.8%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of . . .
November 26, 2018
Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a mortgage?
By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before the scheduled closing on their home. The closing disclosure includes final details about the loan and the closing costs.But what are closing costs anyway?
According to Trulia:
“Closing costs are lender and third-party fees paid at the closing of a real estate transaction, and they can be financed as part of the deal or be paid upfront. They range from 2% to 5% of the purchase price of a home. (For those who buy a $150,000 home, for example, that would amount to between $3,000 and $7,500 . . .
November 13, 2018
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.
For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.
NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,
“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”Let’s take a deeper look:Interest . . .
March 26, 2018
Here are five reasons listing your home for sale this spring makes sense.1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.
Take advantage of the buyer activity currently in the market.2. There Is Less Competition Now
Housing inventory has declined year over year for the last 32 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained . . .
January 29, 2018
Every winter, families across the country decide if this will be the year that they sell their current houses and move into their dream homes.
Mortgage rates hovered around 4% for all of 2017 which forced many buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!
At the same time, however, inventory levels of homes for sale have dropped dramatically as compared to this time last year.
Trulia reported that “in Q4 2017, U.S. home inventory decreased by 10.5%. That is the biggest drop we’ve seen since Q2 2013.”
Here is a chart showing the decrease in inventory levels by category:
The largest drop in inventory was in the starter home category which saw a 19% dip in listings.Bottom Line
Demand for your home is very strong right now while your competition (other . . .
January 16, 2018
Keeping Current Matters
It is common knowledge that a great number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.
The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2017. Here is a graphic showing the results:
The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. . . .
December 27, 2017
Keeping Current Matters
We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.
No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.1. Owning your home offers stability to start and raise a family
From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.2. There’s no place like home
Owning your own home offers you not only . . .
November 13, 2017
Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.Here are seven great reasons not to wait: Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.You can restrict the showings on your home to the times you want it shown. You will remain in control.Homes show better when decorated for the holidays.There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year: The desire to own a home doesn’t stop when . . .
October 31, 2017
KCM Blog Keeping Current Matters 10-31-2017
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.
The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.
NAR’s Chief Economist Lawrence Yun had this to say,
“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable . . .
Where Are Interest Rates Headed in 2019?
December 10, 2018
4 Reasons to Buy A Home This Winter!
December 03, 2018
Buyers: Don’t Be Surprised by Closing Costs!
November 26, 2018
Females Are Making It a Priority to Invest in Real Estate!
November 20, 2018