Election years can shift buyer and seller behavior, causing lower inventory and potentially higher prices. After elections, market stabilization might lead to more listings and increased negotiating power for buyers.
Recent forecasts offer contrasting views on future home price trends. Zillow predicts a -1.2% decrease in home prices from May 2024 to May 2025, signaling potential market shifts.
If you're looking to buy a house, follow these 13 steps to simplify the process. Start by determining how much you can afford, including all costs like taxes and insurance. Prepare financially by saving for a down payment, paying off debt, and checking your credit score. Shop around for mortgage lenders and get preapproved. Find … Continued
Oxford, MS: Homes appreciate at 14.87%, the highest in the U.S., with an average value of ~$345K. Dodge City, KS: Home prices increased by 14.68%, with an average price of just over $205K.
Homebuyers should take advantage of the current mortgage interest rate climate, which has improved significantly from last year. With rates now around 6.80% for a 30-year mortgage, it's crucial to shop around for the best rates, boost credit scores, understand mortgage options, lock in favorable rates, and be aware of key dates that may affect … Continued
Purchasing a home requires careful planning and disciplined saving. Start by setting a clear savings goal, ideally saving at least 20% for a down payment and accounting for closing costs. Create and stick to a budget, cutting unnecessary expenses. Consider investing a portion of your savings for better returns and open a dedicated high-yield savings … Continued
Fannie Mae and NAR expect the 30-year mortgage rate to lower to 6.7% by year-end. The Mortgage Bankers Association forecasts a slightly lower rate of 6.6%.
Cooling inflation could lead to Federal Reserve rate cuts, resulting in lower mortgage rates.Lower rates make homeownership more affordable with reduced monthly payments and long-term savings.
New changes may require homebuyers to pay their Real Estate agent directly, shifting the cost from sellers. Traditional buyer’s agent commission rates, often ~3%, will now need negotiation between buyers and agents.
Happy Labor Day! Labor Day is a day dedicated to honoring the contributions and achievements of workers and the labor movement. It marks summer's informal end in the U.S., as schools often start after the holiday. It offers a chance to ponder the historical strides in workers' rights and labor advancements. Cheers to hardworking individuals … Continued