Equity Is a Game Changer for Homeowners Looking To Sell

Written by Florida VA Loan Syndicated User on August 16, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Move-Up Buyers, Selling Myths.

If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move.What Equity Is and How It WorksEquity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect.Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly....

About 11,000 Houses Will Sell Today

Written by Florida VA Loan Syndicated User on August 11, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Selling Myths.

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:4.16...

There’s Only Half the Inventory of a Normal Housing Market Today

Written by Florida VA Loan Syndicated User on August 9, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Selling Myths.

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house. This graph from Calculated Risk can help put that into perspective: As the graph shows, while housing inventory did grow slightly week-over-week (shown in the blue bar), overall supply is still low (shown in the red bars). Compared to the same week last year, supply is down roughly 10% – and it was...

Sellers: Don’t Let These Two Things Hold You Back

Written by Florida VA Loan Syndicated User on August 2, 2023. Posted in Buying Myths, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, For Sellers, Selling Myths.

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.Challenge #1: The Reluctance to Take on a Higher Mortgage RateAccording to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below):But today, the typical 30-year fixed mortgage rate offered to buyers...

Homebuyers Are Still More Active Than Usual

Written by Florida VA Loan Syndicated User on July 28, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Selling Myths.

Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today.The ShowingTime Showing Index is a measure of how much buyers are touring homes. The graph below uses that index to illustrate buyer activity trends over time to help put today into the proper perspective.It shows there’s seasonality in real estate. If you look at the last normal years in the market (shown in gray), there was a consistent pattern as buyer activity peaked...

Homebuyers Are Getting Used to the New Normal

Written by Florida VA Loan Syndicated User on July 19, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Interest Rates, Selling Myths.

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR),...

Home Prices Are Rebounding

Written by Florida VA Loan Syndicated User on July 18, 2023. Posted in Buying Myths, Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Buyers, For Sellers, Pricing, Selling Myths.

If you’re following the news today, you may feel a bit unsure about what’s happening with home prices and fear whether or not the worst is yet to come. That’s because today’s headlines are painting an unnecessarily negative picture. If we take a year-over-year view, home prices did drop some, but that’s because we’re comparing to a ‘unicorn’ year when prices peaked well beyond the norm.To avoid an unfair comparison to that previous peak, we need to look at monthly data. And that tells a very different and much more positive story. While local home price trends still vary by market, here’s what...

Low Housing Inventory Is a Sweet Spot for Sellers [INFOGRAPHIC]

Written by Florida VA Loan Syndicated User on July 15, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Infographics, Selling Myths.

Some HighlightsToday’s housing inventory is still well below more normal years.This low inventory is why homes that are priced right are still selling quickly and seeing multiple offers.If you want to sell your house, now is a great time because inventory is still low. Contact a trusted real estate agent to start the process.

Renting or Selling Your House: What’s the Best Move?

Written by Florida VA Loan Syndicated User on July 13, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Selling Myths.

If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years.While a short-term rental can be a tempting idea, you may find the reality of being responsible for one difficult to take on. Here are some of the challenges you could face if you rent out your house instead of selling it.A Short-Term Rental Comes with ResponsibilitiesSuccessfully managing your house as...

Today’s Housing Inventory Is a Sweet Spot for Sellers

Written by Florida VA Loan Syndicated User on July 7, 2023. Posted in Florida VA Condo Loan, Florida VA Loan, Florida VA Loan Rates, For Sellers, Housing Market Updates, Selling Myths.

One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels.According to a recent report from Realtor.com: “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.”The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much...

Category: Selling Myths