Many consumers are wondering what will happen with home values over the next few years. Some are concerned that the recent run-up in home prices will lead to a situation similar to the housing crash 15 years ago. However, experts say the market is totally different today. For example, Odeta Kushi, Deputy Chief Economist at First American, tweeted just last week on this issue: “. . . We do need price appreciation to slow today (it’s not sustainable over the long run) but high price growth today is supported by fundamentals- short supply, lower rates & demographic demand. And we are in a much different & safer space: better credit quality,Read More →

Mortgages rates keep climbing, and that poses a major challenge for families looking to score a deal during the busy spring home-buying season. The benchmark 30-year fixed-rate mortgage averaged 4.67% for the week ending March 31, according to data released by Freddie Mac on Thursday. That represents a one-fourth percentage point increase from the previous week. This marks the highest level for mortgage rates since the end of 2018. Comparatively, at this time a year ago, the 30-year fixed-rate mortgage averaged just 3.18%. The 15-year fixed-rate mortgage rose 20 basis points from the previous week to an average of 3.83%, and the 5-year Treasury-indexed adjustable-rate mortgage climbed 14Read More →

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up overRead More →

If you’re buying or selling real estate, you may have heard you should hire a real estate attorney. “Should” is a squishy term, though. Do you need to hire a real estate attorney at all? Granted, real estate deals are complicated transactions, so the last thing you want is to land in legal hot water. Nonetheless, in the same way you may not want to hire a travel agent to book a trip these days, you also don’t want to shell out for an attorney when you can make do without him, either. So if you’re on the fence or just unsure if a real estate attorneyRead More →

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today. But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why. Pricing Your House Right Is Crucial Even inRead More →