Wednesday, August 7, 2024 / by Dick Keenan
Mortgage rates have been a major topic in the housing market due to their significant impact on affordability. If you're looking to buy a home, you've likely been waiting for rates to drop. Good news: the past few weeks have shown a promising decline in rates.
Mortgage Rates Trend Down in Recent Weeks
There's exciting news about mortgage rates. Following recent reports on the economy, inflation, unemployment rates, and comments from the Federal Reserve, mortgage rates have started to decrease. According to Freddie Mac, rates are now at their lowest level since February. Here's a visual representation of this downward trend:
You might be tempted to wait and see if rates will drop even further. However, it's important to keep things in perspective. The record-low rates from the pandemic are a thing of the past. If you're hoping for a 3% mortgage rate again, experts agree that’s unlikely. As Greg McBride, Chief Financial Analyst at Bankrate, explains:
"The hopes for lo. ...
Read More
real estate, keenan carter group, keller williams, central coast, realtor, home purchase, real estate agent, first time home buyer, housing affordability, low interest rates, mortgage rates, stop renting, interest rates
Friday, June 21, 2024 / by Dick Keenan
Thinking about selling your home on your own as a "For Sale by Owner" (FSBO)? It might seem like a good idea at first, but handling the sale yourself can quickly become a stressful and complex task. Without the expertise of a professional, you're more prone to making mistakes that could cost you time and money.
According to a report from the National Association of Realtors (NAR), the two main challenges FSBO sellers face are setting the right price and managing the paperwork.
Here are some ways a real estate agent can simplify these tasks for you.
Pricing Your Home Correctly
Setting the correct price for your home is crucial. When selling on your own, you risk either overpricing or underpricing your property. Overpricing can scare away potential buyers, while underpricing might mean losing out on significant money. NerdWallet highlights the importance of first impressions when pricing your home:
“When selling a home, first impressions matter. Your house&rs ...
Read More
real estate, selling a home, house for sale, real estate agent, time to sell your home, realty, for sale by owner, fsbo, do not for sale by owner, dont sell your house without an agent
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. ...
Read More
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
Tuesday, January 11, 2022 / by Dick Keenan
Why Waiting To Sell Your House Could Cost You a Small Fortune
Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year’s expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring.
1. Buyers Are Looking Right Now, and They’re Ready To Purchase
The ShowingTime Showing Index reports data from more than six million property showings scheduled across the country each month. In other words, it’s a gauge of how many buyers are out looking at homes at the current time.
The latest index, which covers November showings, reveals that buyers are still very active in the market. Comparing this November’s numbers to previous years, this graph shows that the index is higher than last year and much higher than the three years ...
Read More
real estate, keenan carter group, keller williams, central coast, san luis obispo county, selling a home, realtor, real estate agent, time to sell your home, real estate market, sellers market, reasons to sell your home, sell during an inventory shortage, when home sellers make the most
Wednesday, April 14, 2021 / by Traci Pimentel
A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes.
Do Americans believe a home is a better investment than stocks?
In a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks.
Here’s how the results break down:The survey also shows a wide range of reasons why Americans feel that way (respondents were able to pick more than one answer):
Bottom Line
The data show how strongly Americans believe in homeownership as an investment. That belief is warranted. The Liberty Street Economics blog put it best by saying:
“Housi ...
Read More
real estate, keenan carter group, keller williams, home ownership, real estate agent, home owner, first time home buyer, housing economy, home value, invest in real estate instead of stock, more value in real estate than stock, real estate investing, stock investing, stocks, stocks versus real estate
