Monday, November 11, 2019 / by Teresa Kenney Parker
Current market trends make this a great time to use your equity to move-up to the home of your dreams. Let's connect to determine how much equity you have to put toward your next home.
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Wednesday, October 30, 2019 / by Teresa Kenney Parker
How to Determine If You Can Afford to Buy a Home
The gap between the increase in personal income and residential real estate prices has been used to defend the concept that we are experiencing an affordability crisis in housing today.
It is true that home prices and wages are two key elements in any affordability equation. There is, however, an extremely important third component to that equation: mortgage interest rates.
Mortgage interest rates have fallen by more than a full percentage point from this time last year. Today’s rate is 3.75%; it was 4.86% at this time last year. This has dramatically increased a purchaser’s ability to afford a home.
Here are three reports validating that purchasing a home is in fact more affordable today than it was a year ago:
CoreLogic’s Typical Mortgage Payment
“Falling mortgage rates and slower home-price growth mean that many buyers this year are committing to lower mortgage ...
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Tuesday, September 3, 2019 / by Teresa Kenney Parker
5 Reasons to Sell This Fall
Below are 5 compelling reasons listing your home for sale this fall makes sense.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase…and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed for a normal market. This means that in the majority of the country, there are not enough homes for sale to satisfy the number of buyers.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hove ...
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Tuesday, August 6, 2019 / by Teresa Kenney Parker
How to Judge the Impact of the Next Economic Slowdown on Housing
We’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur?
Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market analysts surveyed believe the next recession will occur by the end of next year. Here’s the breakdown:
9% believe a recession will occur this year
50% believe it will occur in 2020
35% believe it will occur in 2021
6% believe it will occur after 2021
When asked what would trigger the next recession, the three most common responses by those surveyed were:
Trade Policy
Stock Market Correction
Geopolitical Crisis
How might the recession impact real estate?
Challenges in the housing and mortgage markets were major triggers of ...
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Thursday, June 6, 2019 / by Teresa Kenney Parker
What is Important to Boomers when Selling their House?
If you are a “baby boomer” (born between 1946 and 1964), you may be thinking about selling your current home. Your children may have finally moved out. Your large, four-bedroom house with three bathrooms no longer fits the bill. Taxes are too high. Utilities are too expensive. Cleaning and repair are too difficult. You may be ready to move into a home that better fits your current lifestyle. Many fellow boomers have already made the move you may be considering.
The National Association of Realtors recently released their 2019 Home Buyer and Seller Generational Report. The report revealed many interesting tidbits about both categories of baby boomers: younger boomers (ages 54 to 63) and older boomers (64 to72). Here are a few of the more interesting topics.
Percentage of Buyers who Looked Online First
All Buyers: 44%
Younger Boomers: 46%
Older Boome ...
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