Inventory is a huge struggle for quite a while, and the problem is compounded by the ongoing coronavirus pandemic. As outlined by realtor.com®’s December Housing Report, the number of homes for sale recently reached an all-time low, hitting below 700,000 for the first time after dropping 39.6% YoY-that’s 449.000 fewer homes for sale than last … » Learn More about December 2020 Housing Report
Home Ownership
Homes Usually Sell for Less in Dec. – however, not This Year
The pandemic tossed traditional “best time of year to buy a home” advice out the window. This year, low inventory and strong demand continue to drive the market. With low housing inventories and high buyer demand, home sellers are expected to continue to command higher home prices this winter – an unseasonable trend in the … » Learn More about Homes Usually Sell for Less in Dec. – however, not This Year
Forbearance Loans May Never Be Foreclosed
If forbearance works as intended, homeowners are only going to re-start payments when jobs return, and their homes won’t ever go into foreclosure. COVID-19 is considered the wild card. Forbearance Loans May Never Be Foreclosed The Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey discovered that the number of loans in forbearance … » Learn More about Forbearance Loans May Never Be Foreclosed
Buyers want these 4 Attributes in Homes
Nearing the end of a bizarre year, home buyers have changing needs for their new spaces. Sellers, take notice. Over the past six months, the course of daily life has greatly changed and, with COVID-19 still present as autumn approaches, home buyers’ desires have shifted accordingly. 4 Attributes Fall Buyers Want in Homes Interested … » Learn More about Buyers want these 4 Attributes in Homes
Bidding Wars Could Continue This Fall
As pent-up demand from the spring compounded to produce one of the busiest summers for residential real estate on record, the demand is promising to spill over into the fall months. Bidding Wars may still be around for awhile. “Normally, my brokerage’s sales start to dip after September, and we generally have a slowdown all … » Learn More about Bidding Wars Could Continue This Fall
Foreclosed Home – Bad Idea?
REO or real estate owned foreclosed homes can offer great deals but watch out for downsides that may occur with any foreclosure, like maintenance or permitting issues. Purchasing a Foreclosed Home from the Bank – Bad Idea? Question: We are considering a home in a great neighborhood however are nervous since the house … » Learn More about Foreclosed Home – Bad Idea?
Escalation Clause what is it?
Within a competitive seller’s market, a very common tactic to help win a bidding war – when multiple offers are made on one property – is implementing an escalation clause. What exactly is an escalation clause? Sometimes called an “escalator,” an escalation clause is when a buyer submits an offer on a home … » Learn More about Escalation Clause what is it?
June Existing-Home Sales Surge
U.S. home sales rose a record amount month-to-month in June, NAR says – but one of the reasons is due to the fact May sales fell dramatically in the early days of the pandemic. Existing-home sales rebounded at a record pace in June, in accordance with the National Association of Realtors® (NAR) June housing report. … » Learn More about June Existing-Home Sales Surge
Buyers Most significant Hurdle in June?
Today’s buyers have 27.4% fewer homes to select from than they did 12 months ago, though in Fla. it varies from 31.4% near Tampa to 9.4% in South Florida. Buyer requirements have risen as a result of record-low mortgage rates and frustration after spending time quarantined in less-than-ideal housing. Due to this fact, sellers who … » Learn More about Buyers Most significant Hurdle in June?
Watch out for Mortgage Relief Scams
Confused by most of the forbearance relief for homeowners? Experts consider that fertile turf for scammers who are going to offer help simply to steal your money. As a result of widespread uncertainty and absence of clear guidance about mortgage relief options, home loan borrowers must be on guard against scams and profiteering if they … » Learn More about Watch out for Mortgage Relief Scams