A Drop in Equity Doesn’t Mean Low Equity

Written by Cape Coral Mortgage Syndicated User on June 15, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Cape Coral, Move-Up Buyers, Pricing.

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly during the ‘unicorn’ years. That gave homeowners a considerable equity boost. But those ‘unicorn’ years couldn’t last forever. The market had to moderate at some point, and that’s what we saw last fall and winter. As home prices dropped slightly in the back half of 2022,...

Your Needs Matter More Than Today’s Mortgage Rates

Written by Cape Coral Mortgage Syndicated User on June 14, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Interest Rates, Mortgage Cape Coral, Move-Up Buyers.

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place. It’s true mortgage rates have climbed from the record lows we saw in recent years, and that has an impact on affordability. With rates where they are right now, some homeowners are deciding they’ll wait to sell because they don’t want to move and have a higher mortgage rate on their next home....

Why You Can’t Compare Now to the ‘Unicorn’ Years of the Housing Market [INFOGRAPHIC]

Written by Cape Coral Mortgage Syndicated User on June 10, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Infographics, Mortgage Cape Coral, Pricing.

Some Highlights Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years. Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years. Connect with a local real estate professional who can share the data that puts those headlines in the proper perspective.

This Real Estate Market Is the Strongest of Our Lifetime

Written by Cape Coral Mortgage Syndicated User on June 9, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Cape Coral.

When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 1. The Current Mortgage Rate on Existing Mortgages First, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that...

Oops! Home Prices Didn’t Crash After All

Written by Cape Coral Mortgage Syndicated User on June 6, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Cape Coral, Pricing.

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts: Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business: “I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.” Mark Zandi, Chief Economist at Moody’s Analytics: “Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner...

Today’s Real Estate Market: The ‘Unicorns’ Have Galloped Off

Written by Cape Coral Mortgage Syndicated User on May 31, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Cape Coral, Pricing.

Comparing real estate metrics from one year to another can be challenging in a normal housing market. That’s due to possible variability in the market making the comparison less meaningful or accurate. Unpredictable events can have a significant impact on the circumstances and outcomes being compared. Comparing this year’s numbers to the two ‘unicorn’ years we just experienced is almost worthless. By ‘unicorn,’ this is the less common definition of the word: “Something that is greatly desired but difficult or impossible to find.” The pandemic profoundly changed real estate over the last few...

Moving Now Can Give Your House Its Day in the Sun [INFOGRAPHIC]

Written by Cape Coral Mortgage Syndicated User on May 27, 2023. Posted in Cape Coral Mortgage, For Sellers, Infographics, Mortgage Cape Coral.

Some Highlights If you want to sell your house, consider doing it this summer. The days are longer, the weather is warmer, and it’s a great time for sellers. If your needs have changed, now’s the time to capitalize on the low inventory and multiple offers in today’s sellers’ market. Connect with a local real estate agent today if you’re ready to sell your house and move to a home that meets your changing needs.

The Benefits of Selling Now, According to Experts

Written by Cape Coral Mortgage Syndicated User on May 26, 2023. Posted in Cape Coral Mortgage, For Sellers, Housing Market Updates, Mortgage Cape Coral.

If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. Here’s what industry experts are saying about why selling now has its benefits: Lawrence Yun, Chief Economist at the National Association of Realtors (NAR): “Inventory levels are still at historic lows. Consequently,...

Powerful Job Market Fuels Homebuyer Demand

Written by Cape Coral Mortgage Syndicated User on May 19, 2023. Posted in Cape Coral Mortgage, For Sellers, Housing Market Updates, Mortgage Cape Coral.

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger. One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below): And though there’s less traffic than the buyer frenzy of the past couple of years, we’re not far off that pace....

What You Need To Know About Home Price News

Written by Cape Coral Mortgage Syndicated User on May 18, 2023. Posted in Cape Coral Mortgage, For Buyers, For Sellers, Housing Market Updates, Mortgage Cape Coral, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story. Here’s why using the median home price as a gauge of what’s happening with home...

Category: For Sellers