Buying This Summer? Be Prepared for Bidding Wars

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Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different!

Buyers have already been out in force looking for their dream homes and more are on their way. The challenge is that the inventory of homes for sale has not kept up with demand, which has ...

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Battling Buyer Fatigue

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Battling Buyer Fatigue

In areas with limited inventory and many buyers, multiple offers are common. This is a fast and frenzied situation which can be exhausting for all parties. Some buyers who have been working the market with no success can easily get frustrated, tired, and no longer wanting to take part. This is due to the hurriedness of the market, the urgency to see new listings, possibly spending hundreds of dollars for pre-inspections, getting emotionally-committed to a home and making ...

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Next Recession in 2020? What Will Be the Impact?

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Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession:

Experts largely expect the next recession to begin in 2020.”

That timing concurs with a  Continue Reading →

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Are You Wondering If You Can Buy Your First Home?

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There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still, some others might think their current incomes would never enable them to qualify for a mortgage.

We want to share what the typical first-time homebuyer actually looks like based on the National ...

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You DO NOT Need 20% Down to Buy Your Home NOW!

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The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they cannot afford them.

This brings us to two major misconceptions that we want to address today.

1. Down Payment

A ...

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How A Lack of Inventory Impacts the Housing Market

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The housing crisis is finally in the rear-view mirror as the real estate market moves down the road to a complete recovery. Home values are up, home sales are up, and distressed sales (foreclosures and short sales) have fallen to their lowest points in years. The market will continue to strengthen in 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. Buyer demand naturally increases during the summer months, ...

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Are Lending Standards Too Loose…or Too Tight?

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With home values appreciating at record rates, some are concerned that we may be heading for another housing bubble like the one we experienced a decade ago. One of the major culprits of that housing boom and bust was the loosening of standards for mortgage credit.

In a study done at the University of North Carolina immediately after the crisis, it was revealed that:

“Lenders began originating large numbers of high risk mortgages from around 2004 to 2007, and loans from those ...

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When Is a Good Time to Rent? Not Now!

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People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent.

The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:

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Days on The Market Drops to New Low in April

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According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.

NAR’s Chief Economist, Lawrence Yun, had this to say,

“What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the ...

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How Much Will that Escalation Cost You?

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How Much Will that Escalation Cost You?

 

In this market with very tight inventory and multiple offers, if you are shopping for a property, you might be faced with a tough decision when it comes to the price you offer. Of course, the offer isn’t just about price; there are a number of other terms that can be adjusted to benefit the seller but coming in with a strong offer price is usually a very important component.

Oftentimes if you make an ...

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