Wednesday, February 10, 2021 / by Traci Pimentel
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
1. This time, housing supply is extremely limited
The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.
In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in which prd ...
Read More
real estate, keenan carter group, keller williams, central coast, selling a home, california, time to sell your home, real estate market, reasons to sell your home, sell during an inventory shortage, selling during a pandemic, when home sellers make the most, housing economy, putting home on market, economy during covid-19, housing crisis, housing bubble
Monday, December 14, 2020 / by Traci Pimentel
If you’re currently feeling the stress of affording your mortgage payment, or if you know someone who is, there’s still time to get help. For homeowners experiencing financial hardship this year, the CARES Act provides mortgage payment deferral options, creating much-needed relief in these challenging times.
It’s important, however, to understand how forbearance works. It’s not automatic. You need to take action now and apply for the program before these options expire.
A study by the Urban Institute determined:
“Approximately 400,000 homeowners who became delinquent after the pandemic began have forgone forbearance and become delinquent. These borrowers may not know they are eligible for forbearance.”
Thankfully, there’s still time to apply for forbearance, even if you’re just learning about it now. Doing so may be the game-changer you need to stay in your home, just when you need it mos; ...
Read More
real estate, keenan carter group, keller williams, central coast, real estate during covid 19, mortgage, housing economy, economy during covid-19, forebearance, foreclosure, how to file a claim, preforclosure, forbearance, how to file for forbearance, cares act, applying for forbearance, things to know about forbearance, home loan assistance, mortgage assistance, home owner advice, homeowner tips
Wednesday, March 25, 2020 / by Traci Pimentel
Looking to the bright side when coming out the other end of the Coronavirus aftermath. How does this affect home prices? Are we heading into a recession? How would a recession now compare to the recession of 2008-2009? Keep yourself in the know while sheltering in place.
Read More
real estate, keenan carter group, keller williams, central coast, dick keenan, corona virus, covid-19, economy during covid-19, real estate market, reccession, shelter at home, shelter in place