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Buying Don’t Expect a Flood of Foreclosures Content courtesy of Keeping Current Matters The rising cost of just about everything from groceries to gas is leading to speculation that more people won’t be able to afford their mortgage payments. That leads to speculation that foreclosures are on the horizon. While it’s true that foreclosure filings have gone up a bit compared to last […]
Buying American’s Are Sitting On Tremendous Equity Courtesy of Keeping Current Matters Equity Is a Game Changer for Homeowners Looking To Sell If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be […]
Selling There’s Half the Inventory of a Normal Housing Market Today Post courtesy of Keeping Current Matters Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today. These stats are derived from national averages. The northern Michigan market is dynamic, unique and area specific. To see more detail […]
Buying The Housing Market Faces Two Big Issues The housing market faces two big issues right now. The biggest challenge is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break down these […]
Buying Closing Costs, What Are They? While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. What […]
Buying Housing Market Expected to Crash…… Not! Is the housing market expected to crash? Where do people get their information?! Seriously, real estate pessimists need to reconsider their sources. Like so much of what is presented to us in the news media, doomsayers tell “A” story not “THE” story. 67% of Americans say a housing market crash is imminent in the next […]
Buying Housing Market Expected to Improve in 2023 “Transition, hopeful, ease up, expected” are all how experts describe their outlook for the 2023 housing market. The housing market has gone through a lot of change recently. Much of it due to how quickly mortgage rates rose last year. There are signs things are going to turn around in 2023. The recent home price appreciation […]
Buying Lower Mortgage Rates Are Bringing Buyers Back Rising mortgage rates caused the housing market to slow last year. As a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling. Now, however, rates are beginning to come down—and buyers are starting to reenter the market. In fact, the latest data from the Mortgage […]
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Buying Foreclosure Fear In Today’s Headlines You’ve seen recent headlines about foreclosures surging in the housing market. There’s no doubt, the stories can be confusing. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed. Understanding what that […]
Buying Home Price Headlines Highlights If you’re thinking about selling your house, recent headlines about home prices falling month-over-month may have you second guessing your decision—but perspective matters. While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally on a year-over-year basis. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is […]
Buying Pre-Approval in 2023: What You Need To Know One of the first steps in your homebuying journey is getting pre-approved. To understand why it’s such an important step, you need to understand what pre-approval is and what it does for you. Business Insider explains: “In a preapproval [sic], the lender tells you which types of loans you may be eligible to take out, how much you may be approved to […]
Selling Is It Time To Sell Your Second Home? Working from home? During the pandemic, second homes became popular because of the rise in work-from-home flexibility. Owning a second home, especially in the luxury market, allowed us to spend more time in our favorite places. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push […]
Buying Understand These Important Terms Buying a home is a major transaction that can seem even more complex when you don’t understand these important terms used throughout the process. If you’re not comfortable asking your sales agent questions as they arise, find a new one! A professional embraces the fiduciary trust you place with them. You should ALWAYS feel confident […]
Buying Home Equity, The Truth About Negative Headlines Home equity has been a hot topic in real estate news lately. You may have heard there’s a growing number of homeowners with negative equity. Don’t let those headlines scare you. In truth, the headlines don’t give you all the information you really need to understand what’s happening and at what scale. Let’s break down one of the […]
Buying Financial Fundamentals for First-Time Homebuyers Are you prepping to buy your first home? If so, one of the steps you should take early on is making sure you’re financially ready for your purchase. Here are just a few of the financial fundamentals you’ll need to focus on as you set out to buy a home. Build Your Credit Your credit is one […]
Selling Is It Still A Good Time To Sell? Hell Yes It Is! Hell Yes It Is! If you like to make informed decisions, you’ll like this. It’s STILL a great time to sell a home! Here are some powerful stats that illustrate how we’re still in a seller’s market (even if buyer demand has slowed a bit)! Be sure to check the Market Data pages of the […]
Buying Truth or Clickbait Some headlines out there intentionally paint today’s real estate market as doom-and-gloom – but when you take a step back you can see the historical data tells a different story. Take a look at the complete picture of where we are in regard to Homeowner Equity, Foreclosures, and Inventory.
Buying What’s Going on with Home Prices? Get Local Advice. If you’re thinking about buying or selling a home this year, you may have questions about what’s happening with home prices today as the market cools. In the simplest sense, nationally, experts don’t expect prices to come crashing down, but the level of home price moderation will depend on factors like supply and demand in each local market. That means, moving […]
Buying Top Questions About Selling Your Home This Winter Thinking of selling your home this winter? There’s no denying the housing market is undergoing a shift. You may be wondering if it still makes sense to sell your house. Here are three of the top questions – and the data that helps answer them – so you can make a confident decision. 1. Should […]
Buying VA Loans: Making Homes for the Brave Achievable Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they […]
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