More Jobs and Better Pay Leads to More Buyer Demand

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

There’s been talk about a recession for quite a while now. But the economy has been remarkably resilient. Why? One reason is employment and wages have stayed strong. Let’s look at the latest information on each one and why both are good news if you’re thinking about selling your house.More Jobs Are Being CreatedInstead of facing the job losses typical of any recession, the economy has been growing and adding jobs. According to the Bureau of Labor Statistics (BLS), 187,000 jobs were created in July, which is up from the 185,000 created in June. That means more people are finding work. In fact,...

Why Median Home Sales Price Is Confusing Right Now

Written by Palm Harbor FL Mortgage Syndicated User on September 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Selling Myths.

The National Association of Realtors (NAR) is set to release its most recent Existing Home Sales (EHS) report tomorrow. This monthly release provides information on the volume of sales and price trends for homes that have previously been owned. In the upcoming release, it’ll likely say home prices are down. This may seem a bit confusing, especially if you’ve been following along and reading the blogs saying home prices have hit the bottom and have since rebounded.So, why would this say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology...

Sellers: Don’t Let These Two Things Hold You Back

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Pricing Your House Right Still Matters Today

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.The...

Key Housing Market Trends [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsIf you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right.Connect with a real estate agent if you want more information about your local area and what the trends mean for your plans to buy or sell.

Homebuyers Are Still More Active Than Usual

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked...

Homebuyers Are Getting Used to the New Normal

Written by Palm Harbor FL Mortgage Syndicated User on August 1, 2023. Posted in For Sellers, Housing Market Updates, Interest Rates, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),...

Key Reasons To Use a Real Estate Agent When You Sell [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Sellers, FSBOs, Infographics, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

Some HighlightsAn agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process.They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved.Connect with a local real estate agent to ensure you have an expert helping you sell your house successfully.

Lending Standards Are Not Like They Were Leading Up to the Crash

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Palm Harbor FL Mortgage, Palm Harbor Mortgage.

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association (MBA) releases the Mortgage Credit Availability Index (MCAI). According to their website:“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”Basically,...

The True Cost of Selling Your House on Your Own

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in For Sellers, FSBOs, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Selling Myths.

Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as a FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re currently considering selling your house on your own, here’s what you should know.The most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing...

Category: For Sellers