Rising House Prices Trail Pre-Housing Bubble Levels

According to the latest First American Real Home Price Index, slightly lower interest rates and higher wages helped increase consumer home-buying power between August and September 2017.

Making it easier for home buyers to buy Homes for Sale in Davenport FL.

Supply shortages continue to ensure that demand is outpacing supply, driving up prices as many existing homeowners remain reluctant to sell for fear of not being able to find a new house. In spite of that, however, home prices continue to be well below their pre-Recession levels.

The First American Real House Price Index (RHPI) “measures the price changes of single-family properties throughout the U.S. adjusted for the impact of income…

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What’s in store for existing home sales

The National Association of Realtors (NAR) recently released its Existing Home Sales report—discovering that October 2017 reported the strongest pace since June, but low supply continues to lead to fewer closings on an annual basis for the second month in a row.

Homes for Sale in Davenport FL

Amidst the ongoing narrative of supply shortages, the report found that total existing-home sales increased by 2.0 percent to a seasonally adjusted annual rate of 5.48 million in October from 5.37 million in September.

According to NAR’s Chief Economist Lawrence Yun, this slight increase is attributed to job growth, which in most of the country continues to carry on at a robust level and is starting to slowly push…

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Top 3 barriers to homeownership

As home prices rise and tight inventory continues, the current market has made it more challenging for American’s to reach their goals of homeownership, especially for low-to-median-income borrowers and first-time homebuyers.

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According to the Urban Institute’s Housing Finance Policy Center, there are three significant barriers to homeownership: saving for a down payment, accessing mortgage credit, and housing affordability.

In a recent report, Urban Institute breaks down these barriers, reporting data on the latest market trends of these obstacles.

One of the biggest barriers are consumers thinking they need to put more down than lenders actually require. According to the…

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Keeping up with home sales

The November RE/MAX National Housing Report recently released, reporting that October home sales increased 2.5 percent year-over-year—keeping 2017 prices ahead of 2016.

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In terms of inventory, the report found that October’s supply decreased to 3.3 percent, representing the lowest for any October since the housing report began tracking data nine years ago.

Median sales prices are now $224,000, which is an increase of 3.3 percent compared to October 2016.

According to Adam Contos, RE/MAX Co-CEO, the housing market is steady and at least somewhat predictable with record-low inventory and increasing prices in markets across the country.

“With job growth and increased household…

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Mortgage Interest Rates Are Going Up… Should I Wait To Buy?

Homes for Sale in Davenport FL

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 3.5%. However, we must realize that current rates are still at historic lows.

Here is a chart showing the average mortgage interest rate over the last several decades:

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you…

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7 reasons to list your home this holiday season

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.

How Much is Your Davenport FL Home Worth?

Here are seven great reasons not to wait:

  1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.
  2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
  3. You can restrict the showings on your home to the times you want it shown. You will remain in control.
  4. …

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Has There Been a “Trump Bump” in Housing?

By Ralph McLaughlin - Trulia  

Unlike the stock market, housing has actually lost steam

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A surprise election victory last November brought about uncertainty across some sectors of the economy, including housing, but some parts of the economy – such as the stock market – have seen a sharp rise in performance. However, this “Trump Bump,” as some call it, is missing from the housing market. We find that a majority of U.S. counties’ housing markets have not experienced a “Trump Bump” during Trump’s first year in office. While some housing market indicators – such as building permits – are doing well, others – such as home values, rents, and the…

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Low Down Payment Home Loans For First-Time And Repeat Buyers

The biggest barrier to homeownership today is the mortgage down payment. But it doesn't have to be.

According to the National Association of Realtors, 87% of first-time buyers think they need 10% or more down to buy any of the homes for sale in Davenport, FL.

That’s simply false.

In fact, the average down payment for first time buyers today is just 6%. And, a number of programs require no down payment at all.

If you’re “stuck” trying to raise enough down payment money, you must read this entire article.

What Is A Down Payment?

A down payment is a portion of the purchase price that a buyer pays from his or her own funds. A 10% down home purchase is structured as follows.

    …

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Common Moving Mistakes You Should Avoid

Few things in life are as less fun as moving. Relocating is, in fact, one of the most exhausting and stressful things a family typically has to go through at least once. Some have even moved dozens of times in their lives.

But since relocating to another address is necessary and inevitable in most cases, the best thing you can do is to make it as less stressful as you can make it. Avoiding the following moving mistakes would be a great place to start:

Doing the grunt work yourself

We understand the need to handle your precious belongings personally, but can’t you at least limit it to stuff you are actually capable of carrying? Sure, you might save some money if you passed on hiring movers to do the grunt…

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What’s on the horizon for existing home sales?

Though existing home sales are poised for a comeback in 2018, a few hurdles stand in their way. According to Lawrence Yun, an industry-leading economist, continuing inventory shortages and the GOP’s latest tax bill are prime among them.

Yun, Chief Economist for the National Association of Realtors (NAR), told audiences at the 2017 REALTORS Conference & Expo on Friday that existing home sales should jump about 3.7 percent next year, hitting just under 5.67 million. The median existing home price is forecasted to rise even further–about 5.5 percent, Yun said.

Still, positive indicators aside, according to Yun a number of things could hold the market back in 2018–namely, the tax bill released by the…

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