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Real Estate Blog

Monday, July 8, 2024   /   by Amy Richardson

Focus on Time in the Market, Not Timing the Market

Should you buy a home now or should you wait? That’s a big question on many people’s minds today. And while what timing is right for you will depend on a lot of other personal factors, here’s something you may not have considered.
If you’re able to buy at today’s rates and prices, it may be better to focus on time in the market, rather than timing the market.
The Downside of Trying To Time the Market
Trying to time the market isn’t a good strategy because things can change. Here’s an example. For the better part of this year, projections have said mortgage rates will come down. And while experts agree that’s still what’s ahead, shifts in various market and economic factors have pushed back the timing of when that’ll happen. Here’s how that’s impacted homebuyers who’ve been sitting on the sidelines. As U.S. News says:
“Those who put off buying a home during the past few years as they were holding ou ...

  homebuyers, housing market, mortgage rates, buyer demand

Sunday, June 30, 2024   /   by Amy Richardson

Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Home Prices Are Expected To Climb Moderately

Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:

  homebuyers, housing market, home selling, mortgage rates, real estate, homeowners

Tuesday, June 25, 2024   /   by Amy Richardson

How Long Will It Take To Sell My House?

You want your house to sell fast. And you may be wondering
how long the whole process is going to take. One way to get your answer? Work
with a local real estate agent.
They have the expertise to tell you how quickly homes are
selling in your area and what’s impacting timelines for other sellers. That way
you have realistic expectations and can work together to come up with a plan
that’s based on today’s market.
Here’s a high-level overview of just one of the factors a
great agent will walk you through – the supply of homes for sale and how that
impacts your process.
The Growing Supply of Homes for Sale
Over the past few months, the number of homes for sale has
increased. This is good news when you move because it means you’ll have more
options as you search for your next home. But it also means buyers have more to
choose from, so if your house doesn’t stand out – it may take a bit longer to
sell.
The numbers bes ...

  housing market, buyer demand, home selling

Tuesday, June 18, 2024   /   by Amy Richardson

Worried About Mortgage Rates? Control the Controllables

Chances are you’re hearing a lot about mortgage rates right
now. You may even see some headlines talking about last week’s Federal Reserve
(the Fed) meeting and what it means for rates. But the Fed doesn’t determine
mortgage rates, even if the headlines make it sound like they do.
The truth is, mortgage rates are impacted by a lot of
factors: geo-political uncertainty, inflation and the economy, and more. And
trying to pin down when all those factors will line up enough for rates to come
down is tricky.
That’s why it’s generally not worth it to try to time the
market. There’s too much at play that you can’t control. The best thing you can
do is control the controllables.
And when it comes to rates, here’s what you can influence to
make your moving plans a reality.
 
Your Credit Score
Credit scores can play a big role in your mortgage rate. As
an article from CNET explains:
“You can’t control the. ...

  homebuyers, housing market, real estate, mortgage rates

Monday, June 10, 2024   /   by Amy Richardson

Your Equity Could Make a Move Possible

Many homeowners looking to sell feel like they’re stuck
between a rock and a hard place right now. Today’s mortgage rates are higher
than the one they currently have on their home, and that’s making it harder to
want to sell and make a move. Maybe you’re in the same boat.
But what if there was a way to offset these higher borrowing
costs? There is. And the money you need probably already exists in your current
home in the form of equity.
What Is Equity?
Think of equity as a simple math equation. Freddie Mac
explains:
“. . . your home’s equity is the difference between how
much your home is worth and how much you owe on your mortgage.”
Your equity grows as you pay down your loan over time and as
home prices climb. And thanks to the rapid home price appreciation we saw in
recent years, you probably have a whole lot more of it than you realize.
The latest from the Census and ATTOM shows more than two out
of three homeownes ...

  homebuyers, mortgage rates, homeowners, home equity

Home Smart - Savvy Realty Group
Amy Richardson
6909 W Ray Rd #21
Chandler, AZ 85226
602-448-8081

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