What Is a Good Price for a First-Time Home Buyer?
Buying your first home can be pretty nerve-wracking. Regardless of what you pay, whether it seems like a little or a lot, there are going… Read More »What Is a Good Price for a First-Time Home Buyer?
Housing Market
Commentary on the latest housing market news, with a focus on home prices, buying and selling conditions, and if another housing crash is right around the corner.
Hint: It probably isn’t for a while, at least with regard to home prices. Though you could argue there’s a major affordability crisis at the moment.
In short, a lack of for-sale supply continues to plague the housing market.
This absence of inventory has resulted in record high home prices, despite a surge in mortgage rates from the 2-3% range to 7% and higher.
And it’s probably hurting first-time home buyers the most, whether it’s an affordability issue or the inability to find a property.
At the same time, home sellers remain in a good spot due to this lack of supply and still relatively strong demand.
The problem for them might be finding a suitable replacement property.
Home Prices vs. Recessions
There have been three recessions since the 1990s, including the Great Recession, which took place from 2007 and 2009 and lasted about a year and… Read More »Home Prices vs. Recessions
2019 Mortgage and Real Estate Predictions
First off, here are my 2018 predictions in case you want to see how they panned out. Overall, I think I did alright, though my… Read More »2019 Mortgage and Real Estate Predictions
Sell Your House or Rent It Out? The Pros and Cons
If you already own some real estate, perhaps a house or a condo, and are looking to move on, you might ask yourself if it’s… Read More »Sell Your House or Rent It Out? The Pros and Cons
Redfin Launches the Owner Estimate to Give Homeowners Control
Are you sick and tired of your Redfin Estimate or Zillow Zestimate being too low? Do you feel your property is worth much, much more… Read More »Redfin Launches the Owner Estimate to Give Homeowners Control
Quicken Launches Rocket Homes to Compete with Zillow and Redfin
Following the recent trend of real estate and mortgage link-ups, Quicken Loans has launched “Rocket Homes” to fill in the real estate gap and simultaneously… Read More »Quicken Launches Rocket Homes to Compete with Zillow and Redfin
5 Things Home Buyers Are Doing If They Haven’t Found a Property After 3 Months
If you’re a prospective home buyer, life isn’t fun right now. The real estate market remains red hot (despite those headlines about it cooling) and… Read More »5 Things Home Buyers Are Doing If They Haven’t Found a Property After 3 Months
Don’t Make the Mistake of Calling the Housing Top Too Early
It’s that time of year again, when we enter the housing doldrums and everyone in the industry begins to panic. Further exacerbating things this time… Read More »Don’t Make the Mistake of Calling the Housing Top Too Early
Redfin Compete Score: How Hard Is It to Win That Home?
Redfin just launched its so-called “Compete Score,” a tool designed to help prospective home buyers determine how hard it’ll be to “win a home” in… Read More »Redfin Compete Score: How Hard Is It to Win That Home?
Average Home Seller in 2017 Made Only $39,000
While all the headlines paint a really rosy picture for the real estate market where sellers are cashing in mega gains, the average takeaway isn’t… Read More »Average Home Seller in 2017 Made Only $39,000