Given the option, most Americans would prefer to invest in homeownership than in stocks. Let's connect today if you're ready to enjoy the financial benefits of homeownership.
#TopGranbyRealtor #StephenSimard #RealBrokerLLC #GranbyRealEstate #GranbyConnecticut #FindyourGranbyhome #Newhomesforsale #SimardRealtyGroup #Granbyhomesforsale #JoinRealBrokerLLC #Simsburyhomes
0 Comments
Some Highlights
SOURCE KCM #ForBuyers #ForSellers #HousingMarketUpdates #Infographics #SimardRealtyGroup #RealBrokerLLC The majority of homeowners working from home in the last year didn’t have a dedicated office. As more people become positioned to continue working from home long-term, a real office is high on the wish lists of today’s buyers. If you’re planning to sell your house, DM me to talk about how we can show off its ability to provide dedicated office space.
#sellyourhouse #homeoffice #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestatetipsandadvice #justsold #keepingcurrentmatters Don’t be impressed by the headlines reporting year-over-year housing numbers for the next several months (data covering March, April, May, and June). The data will most likely show eye-popping one-year increases. While the year-over-year jumps will certainly be striking, consumers should take these numbers with a grain of salt, as the situation highlights a short-term quirk in the reporting of this data. Essentially, the increases will reflect a combination of two things: sharply lower housing numbers during last year’s virus-related market collapse and the subsequent strong rebound. This will result in what will appear to be unbelievable growth. Let’s use single-family home sales as an example: As the graph reveals, last spring’s buying market was anything but typical. Instead of sales increasing, they fell sharply as a result of stay-at-home orders that virtually shut the real estate industry down.
This spring’s real estate market will bounce back with more normal seasonal sales increases. The percentage increase in sales will be astronomical – not because sales have skyrocketed, but instead because they will be compared to last year’s low numbers. Bottom Line There are likely to be some sensational headlines about real estate over the coming months. However, don’t be fooled. The actual story is that the real estate market is finally back to normal. SOURCE KCM #ForBuyers #HousingMarketUpdate #SimardRealtyGroup #joinRealBrokerLLC This year, mortgage rates have started to slowly climb above recent record-breaking lows. Many homeowners planning to move may feel like they’ve missed the chance to score a great rate on their next mortgage. In reality, there’s still time to secure a rate far below the historic norm. Here’s why. After creeping up for seven consecutive weeks, average mortgage rates have dropped more recently (See graph below). With rates taking a slight dip over the past two weeks at the same time the inventory of houses for sale is so low, homeowners today are sitting in the optimal seat to sell. What’s the advantage of selling your house now? Securing a low mortgage rate on your next home. To take advantage of today’s real estate market, experts are encouraging homeowners to act now before interest rates climb. Danielle Hale, Chief Economist at realtor.com, explains: “…mortgage rates slid for a second week … but we don’t expect rates to stay at this level for too long.” Hale continues to say: “For sellers, getting in early optimizes odds of a quick sale at a good price before there’s too much competition, but that means acting now … In this environment, sellers probably really can’t go wrong, and that’s especially true in the nation’s hottest housing markets where homes are selling quickly and getting the greatest number of viewers online.” Most experts agree that rates will continue to trend upward. Sam Khater, Chief Economist at Freddie Mac, states: “Despite the pause in mortgage rates recently, we expect them to increase modestly for the remainder of this year.” In addition, Freddie Mac recently released their Quarterly Forecast, which notes: “We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.” (See graph below): While buyers everywhere want to secure the lowest rate possible, it’s important to remember that today’s rates are still much lower than the historic norm. Odeta Kushi, Deputy Chief Economist at First American, emphasizes:
“While mortgage rates have trended up in recent months, they are still historically low, so relative to one year ago, housing actually is still more affordable and that’s really thanks to this low mortgage rate environment we find ourselves in.” Bottom Line If you’re thinking of moving, don’t miss the opportunity to secure a great rate on your next home mortgage. Contact a real estate professional today to help you get your house ready to sell so you can find your dream home while mortgage rates are still low. SOURCE KCM #ForBuyers #InterstRates #SimardRealtyGroup #joinRealBrokerLLC According to realtor.com, the top three most important home characteristics for first-time buyers are a good location, a large backyard, and a garage. If your house has any of these features, it’s a great time to sell while it will gain extra attention from competitive buyers. DM me to plan the best way to maximize on the assets of your house when you sell.
#sellyourhouse #locationlocationlocation #bigbackyard #garage #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homeownership #realestateexpert #realestateagency #realestateadvice #keepingcurrentmatters The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner. Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows:
Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example: A homeowner could increase their net worth by over $80,000 in five years. That’s an average of $16,000 annually. That number should be in any equation determining the financial benefits of owning a home compared to renting.
Bottom Line Homeowners are going to make a substantial amount of money in home equity over the next five years. If you’re ready to buy a home, talk with a real estate professional today so you can enjoy this great benefit as well. SOURCE: KCM #Pricing #HousingMaretUpdates #SimardRealtyGroup #RealBrokerLLC Just Listed! 27 Summit Dr, Westfield, MA
🛏️ - 3 Beds 🛀 - 1 Bath 💲 -$264,900 "Welcome to this charming ranch home offering one floor living. The kitchen boasts ample cabinet space, granite countertops, stainless appliances, and an island. Rounding out the main level is a living room with fireplace, hardwood floors, three bedrooms, and a full updated bath. The lower level is partially finished and features a bath and a kitchenette space." View more photos and info here: https://27summitdr.thebestlisting.com/ #JustListd #NewListing #SellingMA #Westfield #SimardRealtyGroup #RealBrokerLLC Buying a home in today’s competitive market takes patience, diligence, and experience. A trusted real estate professional can help you understand how to move efficiently through the homebuying process and how to make a strong offer on your dream home once you’ve found it. DM me today to learn more about the difference an expert guide can make toward achieving your goals.
#expertanswers #realestatepro #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #realestatetips #realestatelife #realestatenews #realestateagent #realestateexperts #instarealestate #keepingcurrentmatters One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think. Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate how long it might take someone earning the median income and paying the median rent to save up for a down payment on a median-priced home. Since saving for a down payment can be a great time to practice budgeting for housing costs, this estimate also uses the concept that a household should not pay more than 28% of their total income on monthly housing expenses. According to the data, the national average for the time it would take to save for a 10% down payment is right around two and a half years (2.53). Residents in Iowa can save for a down payment the fastest, doing so in just over one year (1.31). The map below illustrates this time (in years) for each state: What if you only need to save 3%? What if you’re able to take advantage of one of the 3% down payment programs available? It’s a common misconception that you need a 20% down payment to buy a home, but there are actually more affordable options and down payment assistance programs available, especially for first-time buyers. The reality is, saving for a 3% down payment may not take several years. In fact, it could take less than a year in most states, as shown in the map below: Bottom Line
Wherever you are in the process of saving for a down payment, you may be closer to your dream home than you think. Talk to your local real estate professional to learn more about the down payment options available in your area and how they support your plans. SOURCE KCM #BuyingMyths #DownPayments #SimardRealtyGroup #RealBrokerLLC |
Archives
October 2022
Categories
All
|