Sellers Have an Opportunity with Today’s Home Prices

Sellers Have an Opportunity with Today’s Home Prices

Dollar money bag and a city of house figures and red up arrow. Recovery and growth in property prices, high demand. Increase in rent. Increase in revenues to municipal budget. Investments.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:

This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, Deputy Chief Economist at CoreLogicexplains:

“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”

And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune says:

“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”

What This Means for You

If you’re thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today’s home price appreciation. As prices rise, so does the value of your home, which gives your equity a big boost.

When you sell, you can use that equity toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

Bottom Line

History shows rising mortgage rates have not had a negative impact on home prices. Now is still a great time to sell your house thanks to ongoing price appreciation. When you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area, let’s connect.

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

4 Little Ways to Promote Peace of Mind and Positivity During Your Home Search

4 Little Ways to Promote Peace of Mind and Positivity During Your Home Search

By Realtor.com Creative Studio

When you hear of a friend or family member buying a home, it sounds like a very wise thing to do—a savvy investment and a nice step to take in life. However, when roles are reversed and you are the prospective home buyer, you will quickly realize just how emotionally complex the process can be. After all, you aren’t just envisioning a place to rest your head. When you’re buying a home, you’re simultaneously imagining the memories you will make and evaluating how the layout will work for your lifestyle, whether the location is right and so on.

For many, the expense of buying a home is one of the major stressors. Further complicating matters for many house hunters around the country right now are record-low levels of inventory and record-high home prices. It’s worth remembering, though, that those numbers do not tell the full story. Mortgage rates remain low, and customizable homeowner insurance policies can go a long way toward keeping your budget in check.

The fact remains that house hunting is a big undertaking. But when you approach it with some strategies to help you stay positive, you can keep your calm while finding the perfect place.

READ FULL ARTICLE HERE

 

Realtor.com produced this campaign as part of paid advertising services for Allstate Insurance Company. Realtor.com does not endorse or recommend any particular insurer or service provider, nor any of the products, rates, or offerings of any insurer, broker, or insurance professional.

This content was paid for by an advertiser and created by the realtor.com advertising department. The realtor.com News & Insights editorial team was not involved in the creation of this content.

 

 

Are You Ready To Fall in Love with Homeownership?

Are You Ready To Fall in Love with Homeownership?

real-estate

Financial benefits are always a key aspect of homeownership, but it’s also important to understand that the nonfinancial and personal benefits are why so many people genuinely fall in love with their homes. When you own your home, you likely feel a sense of emotional attachment because of the comfort it provides, but also because it’s a space that’s truly yours.

Over the past two years, we’ve learned to love our homes even more as we’ve stayed home more than ever due to the ongoing pandemic. As a result, the personal and emotional benefits our homes provide have become even more important to us.

As the most recent State of the American Homeowner from Unison puts it:

“Despite the upheaval and uncertainty of the past year, one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.”

When the health crisis began, the world around us changed almost overnight, and our homes were redefined. Our needs shifted, and our shelters became a place that protected us on a whole new level. The same study from Unison notes:

• 91% of homeowners say they feel secure, stable, or successful owning a home
• 64% of American homeowners say living through a pandemic has made their home more important to them than ever
• 83% of homeowners say their home has kept them safe during the COVID-19 pandemic

It’s no surprise this study also reveals that homeowners now love their homes even more as our emotional attachments to them have grown:

real-estate2

That sense of emotional connection genuinely reaches far beyond the financial aspect of homeownership. Because they’re our shelters – ones that we can genuinely call our own. Our homes touch our hearts and can also positively impact our mental health.

As JD Esajian, President of CT Homes, LLC, says:

“Aside from the financial factors, there are several social benefits of homeownership and stable housing to consider. It has long been thought that buying a home contributes to a sense of accomplishment. Still, most individuals fail to realize that homeownership can benefit your mental health and the community around you.”

Whether you’re thinking of buying your first home, moving up to your dream home, or downsizing to something that better fits your changing lifestyle, take a moment to reflect on what Mark Fleming, Chief Economist at First American, notes:

“Buying a home is not just a financial decision. It’s also a lifestyle decision.”

Bottom Line

There are so many reasons to fall head over heels for homeownership. Your home will provide a place to customize and call your own, in addition to stability and security. If you’re ready to fall in love with homeownership, let’s connect so you can get started on your homebuying journey today.

Pam Bonnvie, Broker/Owner

Partners Realty, LLC
385 Stevens Avenue, Portland, Maine 04103

207-530-8900M: 207-939-3686

pbonnvie@partnersrealtyllc.com

 

CLICK HERE FOR YOUR COMPLIMENTARY MARKET ANALYSIS

5 Things to Do This Fall With Your Whole Family

As we all love summertime, it's safe to say you’ve been counting down the weeks, days, and hours until the first day of fall. Before long, you'll be Googling "fall activities near me" and looking for the best fall things to do now in your area. To help you get started, we've rounded up a fall bucket list of items that you'll want to prioritize this time of year.

- Decorate Your Porch with Fall Flair: Let your neighbors know how excited you are for the season with a front porch curb appeal using all the festive fall decor—pumpkins, mums, a pretty fall wreath, and vintage finds. It will make the perfect backdrop for your family’s Instagram photos.

- Host a Potluck: Invite friends to bring their favorite fall dishes for a casual get-together to celebrate any ol' occasion—or for no reason at all!

- Take Family Movie Night Outside: Put those extra blankets stuffed in your linen closet to good use. Hang a large white bed sheet from your fence to re-create a big screen. Make a palette on the ground with all the extra fluff, and settle in under the stars as you and your family watch these classic kids’ movies.

- Plan a Backyard Dinner: Dine al fresco with your family when the crisp, fall air ushers in. Cover each chair with a plaid blanket to wrap up in after the sun sets, then set the mood with cozy candles and a hearty feast. Good for you if you have a red-barn backdrop!

- Bake an Autumnal Treat: Use fresh finds from your local farmer's market to make apple-flavored cakes, pecan pies, and more. Talk about an impressive centerpiece for Thanksgiving!

Sources: countryliving.com