In 2021, the supply and demand imbalance fueled runaway house prices, as well as incredible competition as the limited supply of housing available was snapped up quickly. Sellers were clearly in control and there’s unfortunately no sign of that dynamic abating in 2022. According to the latest Market Pulse Report from HouseCanary, a real estate valuation brokerage, inventory levels dropped again in December to near-record lows. HouseCanary expects the nationwide shortage of homes for sale to persist well into the spring, projecting another double-digit home price increase by the end of 2022. Read More
“Is There Any Relief in Sight For the Housing Shortage Supply?”
Category: Buying a House
What to Expect from the First Time Home Buying Process
Buying your first home is a major, expensive decision, and you shouldn’t start the process without doing any research. Knowing what to expect during the home buying process can save you from possible mistakes, and give you the confidence you need to dive head first into the home buyer pool. One of the biggest challenges of buying your first home is knowing where to start. Luckily, Homes for Heroes has the complete first time home buying process laid out for you to review. Let’s go through what you’ll need to know and do to buy your first home. Read More “What to Expect from the First Time Home Buying Process”
How to Get a Mortgage With Bad Credit
What’s the best way to get mortgage-ready in this crazy competitive housing market? All of the headlines out there suggest it’s a tough market for buyers, and that’s true. So, should you try getting a mortgage with bad credit? The quick answer is “yes”. But, you need to start improving your credit goals immediately, as the housing market will only get more competitive. The housing market has been on a trajectory that has seen home prices skyrocket as demand soars beyond available inventory. This helped raise mortgage borrowing to record heights last year, and is expected to drive lending even higher this year. Read More “How to Get a Mortgage With Bad Credit”
What housing shortage? Veteran mortgages hit an all-time record high
Where there’s a will there’s a way! Despite most people struggling to find a home in today’s hot housing market for the ninth fiscal year in a row, mortgages to our Veteran’s increased year-over-year, up 11.4% compared to fiscal year 2019, according to data from the Department of Veterans Affairs. Overall, the Department of Veterans Affairs loan insurance program backed an all-time record high 1.2 million loans. Read More “What housing shortage? Veteran mortgages hit an all-time record high”
How the Housing Shortage Has Reshaped the Way We Buy Homes
Would you ever consider making what might be the largest purchase of your life without actually having seen the asset? Probably not but that is the state of the housing market today. A shortage in housing supply, low-interest rates, and a pandemic-fueled desire for more space has created intense bidding wars, and it’s not likely to disappear anytime soon. Read More “How the Housing Shortage Has Reshaped the Way We Buy Homes”
Here’s Why 2022 May Be a Better Market for Home Buyers
Double-digit home price appreciation that we’ve seen in the last 12 months shouldn’t be read as an indication that there is trouble ahead for the housing market in 2022. In fact, economic forecasts call for continued strength in US housing as we look into the New Year. Read More “Here’s Why 2022 May Be a Better Market for Home Buyers”
Open House: Guide to Homeowners Associations
You might have heard of a homeowners association from a relative, coworker or friend. And your experience with a homeowners association is probably highly negative or highly positive, depending on your acquaintance’s experience. So, what exactly is this polarizing component of different communities? In this Open House, we’ll dive deep into what a homeowners association is and if they’re the right fit for you. Read More “Open House: Guide to Homeowners Associations”
15 Questions to Ask a Real Estate Agent When Buying and Selling
The difference between the right questions to ask a real estate agent and the wrong questions, can make all the difference in your outcome – whether buying or selling a home. Ideally you are going to be working very closely with this individual throughout the buying or selling process, so good communication will be one of the primary characteristics you will want to foster early in the relationship. One of the best ways to open up the communication channels is to ask them questions, answer their questions and keep everything as clear as possible. Read on for tips about things to discuss with your agent.
Read More “15 Questions to Ask a Real Estate Agent When Buying and Selling”
Market Trends: Buying a New House
If you have spent this summer looking to take the first or next steps in homeownership, you are well aware of how challenging it can be. The lack of houses for sale compared to the large number of home buyers has made for quite the competitive real estate market. Perhaps you have been a witness to the crazy bidding wars that have drive home purchase prices above asking prices. All these factors combined create a misperception that now is not a good time to buy a new house. Read More “Market Trends: Buying a New House”
Open House: Guide to Interest Rates
Interest rates are at all time lows, I’m sure you’ve heard. But what exactly is an interest rate? Why does it matter if they’re low? How can you get an interest rate even lower? In this edition of Open House, I’ll address all these common questions and more as you prepare to buy or refinance a home. Read More “Open House: Guide to Interest Rates”
