[vc_row][vc_column][vc_column_text]The level of equity homeowners have is at an all-time high. Those with a mortgage are seeing their equity climb sharply too. Every time real estate values increase; homeowners get a dollar-for-dollar gain in their home equity. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage.   This rise in home equity has provided the opportunity to use...

[vc_row][vc_column][vc_column_text] When buying a home, saving for a down payment is the main cost that comes to mind, but budgeting for the closing costs required to get a mortgage is just as important. Having a budget and making sure you plan ahead for certain homebuying expenses is critical in the home buying process.   What are closing costs   Closing costs are fees associated with your home purchase that are paid at the closing of...

[vc_row][vc_column][vc_column_text]Over the last year, the pandemic has impacted many homeowners’ ability to make their mortgage payments. Thankfully, the government initiated a forbearance program to provide them with much-needed support.   However, unless this program is extended again, some of these plans expire soon. Nevertheless, 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.   The...

[vc_row][vc_column][vc_column_text]It’s no surprise that buyers are concerned about how quickly home prices are escalating. With that, comes the fear of a market crash down the road. To ease some of these concerns, we looked at several financial analysts’ comments on the current state of the residential real estate market.   Within the last thirty days, major financial services came to the same conclusion: the housing market is strong,...

[vc_row][vc_column][vc_column_text]Many people are currently trying to decide if now is the right the time to buy a home. Some are homeowners who have realized that their current home no longer fits their needs. Others are renters who are ready to become homeowners but are unsure if buying right now makes sense.   Both parties need to ask two simple questions to determine if they should buy now or...

[vc_row][vc_column][vc_column_text]The housing market has seen significantly less single-family homes for sale this March than in March of 2020. This is part of the reason behind the lack of inventory we are experiencing. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons.   What will...

[vc_row][vc_column][vc_column_text]We are currently in the ultimate sellers’ market, which means competition between buyers right now is at an all-time high. The question many homebuyers are asking themselves is, “Why is it so hard to find a house?” , The National Association of Realtors (NAR) reported that homes are getting an average of 4.8 offers per sale, and that number keeps rising with so few houses for sale.   Comparative to what we saw...

[vc_row][vc_column][vc_column_text]Homeowners are in a great position right now to make a move. With housing inventory so low, buyer competition is sky high. This gives sellers the leverage to sell for the best possible terms, and it is resulting in a drastic rise in home prices.   Houses are selling quickly in this hot market. According to the National Association of Realtors (NAR), homes are typically on the market for...

[vc_row][vc_column][vc_column_text]There are likely to be some remarkable headlines about real estate over the coming months. However, don’t be impressed by the headlines reporting year-over-year housing numbers for the next several months (March, April, May, and June). The data will most likely show incredible one-year increases.   While these year-over-year jumps can catch your eye, buyers should take these numbers with a grain of salt. In reality, the...

[vc_row][vc_column][vc_column_text]One of the most challenging aspects of buying a home is saving for a down payment. As you’re working hard to budget and plan for your purchase, you may want to understand how much you’ll need to put down and more specifically, how long it will take you to get there. The process may actually move faster than you think.   We are able to estimate how...