Thursday, June 27, 2024 / by Dick Keenan
Should you buy a home now or wait? This is a common question, and while the right timing depends on personal factors, there’s an important aspect to consider: if you can afford to buy at today’s rates and prices, focusing on time in the market is often more beneficial than trying to time the market.
The Pitfalls of Timing the Market
Attempting to time the market can be risky because conditions change frequently. For example, many forecasts predicted mortgage rates would drop this year. While experts still believe this will happen, various economic factors have delayed the decrease. U.S. News explains:
“Those who put off buying a home during the past few years as they were holding out for lower mortgage rates have been left out of the market . . . mortgage rates have stayed higher for longer than previously expected, keeping monthly housing payments elevated. In other words, affordability didn't improve for those who chose to wait.”
This illustrates w. ...
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real estate, central coast, home buyer, home purchase, home ownership, new home, first time home buyer, home owner, housing affordability, housing economy, equity, real estate projections, home equity
Friday, June 21, 2024 / by Dick Keenan
Many homeowners today feel trapped by the current high mortgage rates, making the idea of selling and moving less appealing. If you’re in this situation, it might seem like there’s no good solution. However, there’s a potential way to counteract these higher borrowing costs: leveraging the equity in your current home.
What Is Equity?
Equity is essentially the difference between your home's market value and what you owe on your mortgage. As you pay down your mortgage and as home values rise, your equity increases. Recent years have seen significant home price appreciation, so many homeowners have more equity than they might realize.
According to the latest data from the Census and ATTOM, over two-thirds of homeowners have either completely paid off their mortgages or have at least 50% equity in their homes.
How Your Equity Can Help You Move
Your home equity can be a powerful tool when selling your house, helping you navigate higher mortgage rates more ea. ...
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real estate, central coast, home buyer, selling a home, realtor, home purchase, california, buying, real estate agent, new home, time to sell your home, moving, selling, value, move up buyers, down payment, equity, afford more home, cash out equity
Thursday, September 24, 2020 / by Traci Pimentel
Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis swept our nation, and it continues to grow throughout the year, giving sellers powerful options in this market.
According to the just-released Q2 Homeowner Equity Insights Report by CoreLogic:
“U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $620 billion since the second quarter of 2019, an increase of 6.6%, year over year.”
Dr. Frank Nothaft, Chief Economist for CoreLogic, attributes much of the equity growth to rising home prices:
“The CoreLogic Home Price Index registered a 4.3% annual rise in prices through June, which supported an increase in home equit; ...
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real estate, keenan carter group, keller williams, central coast, home ownership, san luis obispo county, california, home owner, selling a home, time to sell your home, equity, for sellers, home equity, refinance your home, cash out equity
Thursday, June 18, 2020 / by Traci Pimentel
CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of nearly $590 billion since the first quarter of 2019, an increase of 6.5%, year over year.
In the first quarter of 2020, the average homeowner gained approximately $9,600 in equity during the past year
?The Keenan Carter Group, DRE# 00860187
Keller Williams Realty Central Coast, DRE# 02005015
Graph and content courtesy of Keeping Current Matters. ...
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real estate, keenan carter group, keller williams, central coast, home buyer, home purchase, home ownership, home owner, california, value, equity, home equity