The Real Estate Market: What You Need to Know to Make Informed Decision

With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are heating up, so it’s important to get pre-approved before you start your search. This way, you can put your best foot forward – quickly and efficiently – if you’re planning to buy […] https://www.simplifyingthemarket.com/en/2020/08/31/three-ways-to-win-in-a-bidding-war/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

From Minor to Major: Roof Damage to Look for After a Bad Storm : One part of the house that takes the brunt of a storm is the roof. Here are different types of roof damage to look out for after a storm.

Moving Tips: How to Ship Boxes for the Lowest Cost : A box containing your belongings could cost you several hundred dollars with the USPS, so they're not the best choice if you're looking to save money.

Some Highlights * The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise. * This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power. * Let’s connect if you’d like expert guidance on exploring your homebuying options while affordability is high. https://www.simplifyingthemarket.com/en/2020/08/28/the-cost-of-renting-vs-buying-a-home-infographic-4/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, […] https://www.simplifyingthemarket.com/en/2020/08/27/why-is-it-so-important-to-be-pre-approved-in-the-homebuying-process/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up, you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at […] https://www.simplifyingthemarket.com/en/2020/08/26/should-you-buy-an-existing-home-or-new-construction/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Forbearance is a temporary postponement of mortgage payments.   The lender can grant this option to a borrower instead of forcing the property into foreclosure.   The CARES Act provides protections for homeowners with mortgages that are federally or Government Sponsored Enterprise backed or funded such as FHA, VA, USDA, Fannie Mae and Freddie Mac. A mortgage holder should contact the lender to explain the temporary difficulty they are having making payments and ask for relief under forbearance or other options.   Once the lender grants approval, it is important for the borrower to get the terms of the forbearance agreement in writing to be clear about when the payments will resume and how the missed payments will be recovered. Generally speaking, homeowners in a forbearance plan will not incur late fees and it should not adversely affect their credit.   Unfortunately, borrowers must be vigilant to see that the lender is protecting them from delinquent credit marks according to thei

When shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit. Countless analysts predicted buyer demand would disappear and home values would depreciate for the first time in almost a decade. That, however, didn’t happen. It appears the opposite is taking place. After the […] https://www.simplifyingthemarket.com/en/2020/08/25/builders-realtors-agree-real-estate-is-back/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow: “In 2020, homes went from […] https://www.simplifyingthemarket.com/en/2020/08/24/the-top-reasons-people-are-moving-this-year/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Some Highlights * According to trending data, searches for key real estate topics are skyrocketing online. * Clearly, lots of people have questions about buying a home, and other topics related to the process. * Working with a trusted real estate professional will help you create the most personalized and helpful experience. Let’s connect so you have the guidance you need along the way. https://www.simplifyingthemarket.com/en/2020/08/21/ask-a-pro-about-buying-a-home-infographic/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a later date) could lead to an increase in foreclosures when forbearances end. Some even worried that we might relive the 2006-2008 housing crash all over again. Once you examine the data, however, that seems unlikely. […] https://www.simplifyingthemarket.com/en/2020/08/20/forbearance-numbers-are-lower-than-expected/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low mortgage rates coupled with a new appreciation of what a home truly means has caused the housing market to push forward through this major health crisis. Let’s look at two measures that explain the resilience of […] https://www.simplifyingthemarket.com/en/2020/08/19/just-how-strong-is-the-housing-recovery/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

During the first major stay-at-home event that most of us have experienced in this country, a pool can give you and your family enjoyable recreation without leaving the home.   For those without a pool, the NPD group reports that the Covid-19 pandemic has increased pool building by 161% this year. When your children are small, pools become a magnet for not only your children but their friends as well.   It can also be a great place for the summer holidays, Memorial Day, 4 th of July and Labor Day.   Any day during the summer, especially on the weekends, can be an opportunity to enjoy the pool, cook outside and bask in the sun. Some of you may have even made the transition from your children enjoying the pool to your grandchildren.   Usually, there is an interim where you may have wished that your home didn't have a pool so you would not have the maintenance and required upkeep.   Then, the new generation of family starts using it regularly and again, you are glad you have a p

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research […] https://www.simplifyingthemarket.com/en/2020/08/18/sellers-are-returning-to-the-housing-market/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

The news these days seems to have a mix of highs and lows. We may hear that an economic recovery is starting, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand exactly what’s going on and what it means relative to the […] https://www.simplifyingthemarket.com/en/2020/08/17/the-beginning-of-an-economic-recovery/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Some Highlights * Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. * Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant. * Let’s connect to determine the best way to position your family for a financially-savvy move in today’s market. https://www.simplifyingthemarket.com/en/2020/08/14/mortgage-rates-payments-by-decade-infographic/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why. According to the Mortgage Monitor Report […] https://www.simplifyingthemarket.com/en/2020/08/13/homes-are-more-affordable-right-now-than-they-have-been-in-years/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

With the strength of the current housing market growing every day and more Americans returning to work, a faster-than-expected recovery in the housing sector is already well underway. Regardless, many are still asking the question: will we see a wave of foreclosures as a result of the current crisis? Thankfully, research shows the number of […] https://www.simplifyingthemarket.com/en/2020/08/12/why-foreclosures-wont-crush-the-housing-market-next-year/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Three reasons to refinance a home include lowering the cost of housing, shortening the term of the mortgage to pay it off sooner or to using the equity to accomplish another purpose. Replacing the mortgage at a lower interest rate, which is entirely possible in today's market, would reduce the payment.   On the other hand, shortening the term of the mortgage could make the payments increase but would allow the home to be paid for sooner.   In either case, the equity would not be reduced unless the refinancing costs were rolled into the new mortgage. Refinancing the home to take money out would increase the mortgage on the property and lower an owner's equity; careful consideration should be made before doing so. Mortgage rates are considerably lower than credit card rates and usually lower than short term borrowing like student loans or car loans.   For that reason, homeowners will sometimes refinance to payoff higher cost debt. Some people refinance for more than their

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two. The Biggest Perk for Buyers: […] https://www.simplifyingthemarket.com/en/2020/08/11/current-buyer-seller-perks-in-the-housing-market/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%. When the official report came out, it revealed that 1.8 million jobs were added, and […] https://www.simplifyingthemarket.com/en/2020/08/10/the-latest-unemployment-report-slow-and-steady-improvement/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

Some Highlights * A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers. * Many buyers are accelerating their timelines to take advantage of low mortgage rates and staying home has enabled some to save more money to put toward a down payment. * Let’s connect today if your needs have recently changed and you’re ready to make a move this year. https://www.simplifyingthemarket.com/en/2020/08/07/2020-homebuyer-preferences-infographic/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? […] https://www.simplifyingthemarket.com/en/2020/08/06/how-is-remote-work-changing-homebuyer-needs/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. […] https://www.simplifyingthemarket.com/en/2020/08/05/why-homeowners-have-great-selling-power-today/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

The soothsayer in Shakespeare's Julius Caesar issued his famous warning "Beware the Ides of March."   Who knew that in 2020, around the middle of March, the world, as we knew it, would force such dramatic changes on us from the Coronavirus. In America, it has brought our economy to its knees as we sheltered in place for over four months.   During this time, changes have affected our lives and many of those changes could be permanent. Previously, smaller homes were becoming the trend for not only efficiency but upkeep so owners would have more time to do things including travel.   Now, travel is minimal and our world, in some respects, is reduced to our home. For families with children, their home has become a school.   With so many people working from home, it has become our office or store or studio.   If there is more than one working adult in a home, it needs to have space for each party to work.   The home fitness industry is experiencing record sales in exercis

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates: “…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply […] https://www.simplifyingthemarket.com/en/2020/08/04/todays-buyers-are-serious-about-purchasing-a-home/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger

America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways. Even with all of that uncertainty, the residential […] https://www.simplifyingthemarket.com/en/2020/08/03/experts-weigh-in-on-the-remarkable-strength-of-the-housing-market/?a=492508-5792a6ba3fc4f971e5ea39a74a0ea948&utm_source=dlvr.it&utm_medium=blogger