Friday, May 14, 2021 / by Jeff Green | Ricardo Jimenez - Realtors®
Selling a house is no small task. If you decide to try to do it on your own, keep in mind you’ll be responsible for all the expert-level work of a real estate professional.
The vital tasks an agent manages for you include listing and marketing your house, handling legal documentation, negotiating with all parties, and navigating local laws and regulations.
If you’re ready to sell while the market is in your favor, let’s connect to make sure you have the professional expertise you need every step of the way.
The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Corcoran Global Living does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making ann ...
Thursday, May 13, 2021 / by Jeff Green | Ricardo Jimenez - Realtors®
Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.
According to the National Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this year’s levels are even lower:Due to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage& ...
Wednesday, May 12, 2021 / by Jeff Green | Ricardo Jimenez - Realtors®
Over the past year, the pandemic made it challenging for some homeowners to make their mortgage payments. Thankfully, the government initiated a forbearance program to provide much-needed support. Unless they’re extended once again, some of these plans and the corresponding mortgage payment deferral options will expire soon. That said, there’s still time to request assistance. If your loan is backed by HUD/FHA, USDA, or VA, you can apply for initial?forbearance by June 30, 2021.
Recently, the Consumer Finance Institute of the Federal Reserve Bank of Philadelphia surveyed a national sample of 1,172 homeowners with mortgages. They discussed their familiarity with and understanding of lender accommodations that might be available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The results indicate that some borrowers didn’t take advantage of the support available through forbearance:
“Most borrower ...
Tuesday, May 11, 2021 / by Jeff Green | Ricardo Jimenez - Realtors®
It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. In fact, Google reports that the search for “When is the housing market going to crash?” has actually spiked 2450% over the past month.
In addition, Jim Dalrymple II of Inman News notes:
“One of the most noteworthy things that came up in Inman’s conversations with agents was that every single one said they’ve had conversations with clients about whether or not the market is heading into a bubble.”
To alleviate some of these concerns, let’s look at what several financial analysts are saying about the current residential real estate market. Within the last thirty days, four of the major financial services giants came to the same conclusion: the housing market is strong, and price appreciation will continue. Here are their statemen ...
Monday, May 10, 2021 / by Jeff Green | Ricardo Jimenez - Realtors®
There’s no doubt that 2021 is the year of the seller when it comes to the housing market. If you’re a homeowner thinking of moving to better suit your changing needs, now is the perfect time to do so. Low mortgage rates are in your favor when you’re ready to purchase your dream home, and high buyer demand may give you the leverage you need to negotiate the best contract terms on the sale of your house. Here’s a look at what’s driving this sellers’ advantage and why there’s so much opportunity for homeowners who are ready to move this season.
1. Historically Low Inventory
The National Association of Realtors (NAR) explains:
“Total housing inventory at the end of March amounted to 1.07 million units, up 3.9% from February's inventory . . . Unsold inventory sits at a 2.1-month supply at the current sales pace, marginally up from February's 2.0-month supply and down from the ...