The Return of Normal Seasonality for Home Price Appreciation

Written by Palm Harbor FL Mortgage Syndicated User on October 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Selling Myths.

If you’re thinking of making a move, one of the biggest questions you have right now is probably: what’s happening with home prices? Despite what you may be hearing in the news, nationally, home prices aren’t falling. It’s just that price growth is beginning to normalize. Here’s the context you need to really understand that trend.In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months...

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...

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...

Don’t Fall for the Next Shocking Headlines About Home Prices

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

If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices.They’re basing their negative news by comparing current stats to the last few years. But you can’t compare this year to the ‘unicorn’ years (when home prices reached record highs that were unsustainable). And as prices begin to normalize now, they’re talking about it like it’s a bad thing and making people fear what’s next....

Why Homeownership Wins in the Long Run

Written by Palm Harbor FL Mortgage Syndicated User on July 1, 2023. Posted in First Time Home Buyers, For Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing, Rent vs. Buy.

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to think about the long-term benefits of homeownership when making your decision.Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own...

Why the Median Home Price Is Meaningless in Today’s Market

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, Pricing.

The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report....

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

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

Ways To Overcome Affordability Challenges in Today’s Housing Market [INFOGRAPHIC]

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2023. Posted in First Time Home Buyers, For Buyers, Infographics, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

Some HighlightsWith so few homes on the market right now, widening the scope of your search to include nearby areas could help you find more options in your budget.You can also work with a trusted lender to consider alternative financing options and search for down payment assistance.If you’ve been searching for a home but are concerned about rising costs, make sure you have a team of trusted real estate professionals for expert advice.

What Are the Experts Saying About the Spring Housing Market?

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

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.Here’s what industry experts are saying right now about the spring housing market and what it means for you:Selma Hepp, Chief Economist, CoreLogic:“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when...

The Three Factors Affecting Home Affordability Today

Written by Palm Harbor FL Mortgage Syndicated User on May 1, 2023. Posted in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Palm Harbor FL Mortgage, Palm Harbor Mortgage, Pricing.

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages.Considering how each one of these factors is changing gives you the full picture of home affordability today. Here’s the latest.1. Mortgage RatesWhile mortgage rates are higher than they were a year ago, they’ve hovered primarily between...

Category: Pricing