Monday, December 3, 2018 / by Amy McLeod
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 Realtors are in unison, projecting that rates will increase in 2019.
An increase in rates will impact YOUR monthly mortgage payment. A yea ...
Monday, October 15, 2018 / by Amy McLeod
Right after we got married, my husband and I bought a starter house. At the time, we didn’t have much in savings (or in income), so it wasn’t our dream house. But it was our house, and that was enough. Coming from the tiny apartment where we started out, this three-bedroom, one-bath Cape Cod on a quiet street seemed like a dream. Our plan was to stay five years, tops, then sell it and move on to something bigger and better.
That was 12 years ago … and we’re still here.
At first, our long stay in our starter home happened purely by accident. We had two kids in quick succession, and I'd made a career move into an unsteady field. We were just too busy (and to be honest, too scared) to make the leap.
A few years ago, however, we decided we were ready to enter the real estate market once again. Financially, we were comfortable, and we were rapidly outgrowing the house that had once fit us perfectly. Time to move on!
But that's when it ...
Wednesday, July 18, 2018 / by Amy McLeod
Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market.
According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.
NAR’s Chief Economist Lawrence Yun had this to say,
“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.
That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many ...
Thursday, May 17, 2018 / by Amy McLeod
Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.
Where are home values today compared to the beginning of the year?
While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:
· January: Prices were up 0.5% over the month before.
· February: Prices were up 1% over the month before.
· March: Prices were up 1.4% over the month before.
Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.