Here’s How Inflation Is Affecting Home Prices: What Buyers and Sellers Need To Know Right Now
December 15, 2021
By Janet SirotoDec 2, 2021EnvelopeFacebookTwitterLinkedinPinterestInflation is a red-hot topic right now, and for good reason: In October, the annual inflation rate rose to an alarming 6.2%. That’s the highest it’s hit since November 1990, over 30 years ago, and a steep uptick from the manageable 2% that we’ve enjoyed for the past five years.Translated ...
Big Jump in Home Values in the Past Year
December 15, 2021
Due to tremendous buyer demand for homes and limited inventory, home values have significantly increased. According to the Federal Housing Finance Agency, FHFA, the rate of appreciation in the MSA’s we serve increased over the past 5 years between 18.76% - 22.6%. Even more impressive is the increase in the prior 12 months which ranges from ...
HUD HOME BUYERS
December 15, 2021
HUD HOME BUYERSAre you a Buyer looking to purchase your first HUD HOME. First things first, head to www.hudhomestore.com and see what properties are available in the area you are looking into. Take a moment or two and gander over the website. So much useful information is available regarding HUD Homes and the process. Buyers ...
Secrets to Buying a HUD home
December 15, 2021
1. Have your money lined up.2. Pick the location.3. What price range.4. Who will renovate.5. How to pay subcontractors.6. How much time to renovate.7. How many projects can you handle.8. Do you have accounts with local vendors.9. Will you subcontract ...
Why You Need A ‘Dream Team’ When Buying Your Home
December 15, 2021
We’ve all heard the phrase that ‘teamwork makes the dream work’. Well there aren’t many much bigger dreams that the average person has than of one day owning their own home. So when it comes to buying a home, will doing it all on your own (or just you and the internet) be enough ...
Year End 2021 Real Estate News
December 14, 2021
As the year comes to an end for 2021, the average homeowner has continued to gain home equity as home prices have seen a record growth level in more than four decades. Per Corelogic reports, between the end of 2020 and now 2021 the average home gained about $57,000 in equity. The average sale price ...
Tips for Painting Over Dark Walls
December 14, 2021
Hooboy. You’ve finally bought a house, but the paint is so, so dark. “It’s only paint,” you told yourself as you walked through the place, and repeated at your walkthrough prior to closing. “It’s only paint.” And while it’s true that it’s only paint, and paint can always be painted ...
Case Study: Property Inspection Reporting
December 14, 2021
Client: Nationwide BankThe ChallengeDuring an occupancy inspection for National Bank, a neighbor informed us that she had not seen the occupant in several days and feared she had already moved out leaving her 5 cats behind.The SolutionParkvue Realty contacted the authorities who informed us that the owner (bank) was responsible for accessing the property to determine the occupancy ...
HHS AND HUD ANNOUNCE EXPANDED PARTNERSHIP, NEW HOUSING AND SERVICES RESOURCE CENTER
December 13, 2021
Partnership will improve access to affordable, accessible housing and supportive services HUD No. 21-201HUD Public AffairsFOR RELEASEWednesdayDecember 8, 2021 Today, the U.S. Department of Health and Human Services (HHS) and the U.S. Department of Housing and Urban Development (HUD) announced the expansion of a partnership established earlier this year to improve access to affordable, accessible housing and ...
Depersonalizing Your Home
December 13, 2021
DEPERSONALIZINGStaging is readying the home to show to potential buyers; you must encourage them to visualize living in the home itself, but not in your home.Depersonalizing the home involves removing your personal items, such as photos, trophies, and collectibles. Knickknacks and wall decor are also personal taste items that may distract buyers from seeing the home as theirs. ...
Holiday Safety Tips.
December 10, 2021
It’s the holidays! Time to decorate our homes to welcome family and friends. For some it’s time pack up the kids and head cross county to see family or find a nice quiet spot on a sunny beach. However you choose to spend the holidays it’s important to be safe while also having fun....
HELP YOUR CLIENT CLEAN UP THEIR CREDIT
December 10, 2021
How Realtors can help their Clients clean up their Credit.Help them find someone who can provide a full mortgage analysis and can educate their client about utilization, ratios and payment histories.Explain ...
HUD Gives Early Chance to Owner-Occupant Buyers
December 10, 2021
The Federal Housing Administration doubled its exclusive listing period on certain HUD single-family and real estate-owned homes that will give owner-occupant buyers more time to bid on the properties ahead of investor competition. HUD-approved nonprofit organizations and government entities also will be able to submit bids to purchase the homes before they’re eligible to buy from investors.The ...
Tips For The First Time Homeowner
December 09, 2021
Congratulations to the new homeowner, as you take possession of your new home there are items you should look into for safety and to familiarize yourself.It is a good idea to change the locks on all the doors, to safe guard against extra keys floating around to your home. You may contact a local lock smith or do ...
Why Waiting to Buy a Home Might Be the Wrong Decision
December 09, 2021
Many buyers have decided to wait until next year to buy a home, hoping that the real estate market will be better for their purchase. Before making that decision, it's important to ask yourself where home price and interest rates will be next year. The major housing industry entities are projecting that prices will appreciate another ...
Mortgage rates move slowly despite tightening market
December 09, 2021
Mortgage rates decreased one basis point to 3.10% in the week ending Dec. 9, remaining low and stable despite tighter housing supply and affordability, according to the latest Freddie Mac PMMS mortgage report.A year ago at this time, the average 30-year fixed-rate loan averaged just 2.71%, according to the report published on Thursday.Sam Khater, Freddie ...
Building Gender Awareness in Real Estate
December 08, 2021
Working with people across the gender identity spectrum isn’t just about being inclusive, it’s smart business.....That’s the takeaway Lisa Kenney, CEO of Reimagine Gender, wants to impart to real estate professionals to help them better serve their clients. Kenney, who presented during the “Reimagining Gender: Are REALTORS® Ready to Navigate this New Reality?” ...
Market Trends
December 07, 2021
https://sites.academymortgage.com/landingpage/?domain=sites.academymortgage.com&slug=markettracker&userId=96qIP ...
Inflation and the Housing Market
December 07, 2021
What does Inflation mean to homebuyers and sellers?Assuming they have a down payment, the mortgage payment will be a main determinant of what they can afford, Mortgage rates tend to move in tandem with inflation, so mortgage rates will riseFor home sellers, the current tight market can be a good time to reap a profit—provided that ...
Treasury wants more oversight of all-cash real estate deals
December 06, 2021
WASHINGTON -- The Biden administration is looking to expand reporting requirements on all-cash real estate deals to help crack down on bad actors' use of the U.S. market to launder money made through illicit activity. The Treasury Department was posting notice Monday seeking public comment for a potential regulation that would address what it says is a vulnerability ...
11 Things Before Putting Your Home on the Market
December 03, 2021
11 Things Before Putting Your Home on the MarketNot sure how to get your house ready to sell? Fortunately, there are steps you can take before putting your home on the market to increase your chances of receiving a solid offer from a buyer. From cleaning and staging to repainting and depersonalizing, here are 11 things to do before ...
Improving marketability
December 02, 2021
What are the modest repairs you can do to improve marketability?Start with a fresh coat of paint, keep the colors neutral and concentrate on mainstream colors. If your flooring is of the mix and match variety, try to get some consistency. Either carpet all rooms or use tile or hardwood. a home where every ...
Will Home Prices and Rents Finally Fall? Our Bold Predictions on What’ll Happen in Real Estate, 2022
December 01, 2021
Here’s what we already know: Since the COVID-19 pandemic began, the real estate market has been on a wild ride of unprecedented highs and lows—record-high home prices on one side, record-low mortgage rates and available homes for sale on the other. It’s been a time of overwhelming stress for many, gigantic profits for some, and great ...
Will Home Prices and Rents Finally Fall? Our Bold Predictions on What’ll Happen in Real Estate, 2022
December 01, 2021
Here’s what we already know: Since the COVID-19 pandemic began, the real estate market has been on a wild ride of unprecedented highs and lows—record-high home prices on one side, record-low mortgage rates and available homes for sale on the other. It’s been a time of overwhelming stress for many, gigantic profits for some, and great ...
Creating Curb Appeal
December 01, 2021
Someone said, “a stunning first impression was not the same thing as love at first sight. But surely it was an invitation to consider the matter.” This could not be truer than in selling a home. First impressions matter. Sometimes they are everything.Nothing sets the tone of a relationship or transaction more than first impressions. So, ...
