Tag: Home Prices

History Proves Recession Doesn’t Equal a Housing Crisis

Posted on 06/03/2022

It’s important to understand history proves an economic slowdown does not equal a housing crisis. In 4 of the last 6 recessions, home prices actually appreciated. Home prices only fell twice – minimally in the early 90s and then by nearly 20% during the housing crash in 2008. If you have questions, let’s connect to discuss why today’s...

Sellers Have an Opportunity with Today’s Home Prices

Home Sellers

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Posted on 05/24/2022

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend. According to data from CoreLogic, home...

Home Sellers

How Today’s Mortgage Rates Impact Your Home Purchase

Posted on 05/12/2022

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the...

Mortgage Rates

2022 Housing Market Forecast

Posted on 05/07/2022

What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. Let’s connect so you can make your...

First Time Home Buyers

Using Your Tax Refund To Achieve Your Homeownership Goals This Year

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Posted on 04/18/2022

Today is Tax Day. Hopefully you finished your taxes, or filed for an extension. If you’re buying or selling a home this year, you’re likely saving up for a variety of expenses. For buyers, that might include things like your down payment and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and...

Remote Work Trends Mean Flexibility for First-Time Homebuyers

First Time Home Buyers

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Posted on 04/16/2022

Today’s low inventory can be challenging for homebuyers, especially if you’re looking to purchase your first home. But if you’re one of many people who work remotely, you may have a great opportunity to use the flexibility you have at work to achieve your homebuying goals this year. In a recent report, Arch Capital Services explains how the...

Remote Work

Working From Home

There Are Several Great Reasons To Consider Buying a Condo Today

Posted on 04/09/2022

We just Sold a condominium for one of our clients in downtown Chicago, and were thinking about the condominium market. If you’re a first-time buyer looking to break into the housing market but struggling to find a home to buy, condominiums (or condos) could be a great alternative for you. Here are a few reasons condos may be...

Condo

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Posted on 04/03/2022

It's a Sellers' Market

Due to low supply and high demand, today is one of the strongest sellers' markets we've seen. Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. There’s a reason why 72% of people believe it’s a good time to sell. Don’t miss out on this unique opportunity. Let’s connect so...

Home Inventory

What’s Happening with Mortgage Rates, and Where Will They Go from Here?

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Posted on 03/31/2022

Based on the Primary Mortgage Market Survey from Freddie Mac, the average 30-year fixed-rate mortgage has increased by 1.2% (3.22% to 4.42%) since January of this year. The rate jumped by more than a quarter of a point from just a week ago. Here’s a visual to show how mortgage rate movement throughout 2021 was steady compared to...

Did Your Dream Home Just Come on the Market?

Interest Rates

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Posted on 03/28/2022

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing the monthly new listings going back...

Real Estate