Let's Look at Home Price Appreciation Through 2025
Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels.
“The frequency of buyers being willing to pay more than the market data supports is increasing.”
If an appraisal comes in below the contract price, the Buyer’s lender won’t loan them more than the house’s appraised value. That means there’s going to be a gap between the amount of loan the Buyer can secure and the contract price on the house.
1st Quarter Red Report - How is the Real Estate Market Looking as we begin 2021?
See the full report here: RedReport-1Q-2021.pdf
6 Simple Graphs Proving This Is Not Like 2008
Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever, especially in Middle TN! Home sales and prices were both up substantially over the year before across the nation. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, concerned that we’re now headed for another crash.
However, there are many reasons this real estate market is nothing like 2008. Here are six visuals to show the dramatic differences.
Should We Buy a New Home Now or Wait?
Whether you’re buying your first home or selling your current house, if your needs are changing and you think you need to move, the decision can be complicated. You may have to take personal or professional considerations into account, but only you can judge what impact those factors should have on your desire to move.
The Reason Mortgage Rates Are Projected to Increase and What It Means for You
The Reason Mortgage Rates Are Projected to Increase and What It Means for You
HOW WILL THE 2020 ELECTION AFFECT REAL ESTATE?
Whether we’re ready for it or not, the 2020 presidential election is right around the corner.
As if this year hasn’t brought enough uncertainty, an election could be causing you to question your buying and selling plans…again.
Rocky political environments can create instability in the stock market...causing consumer confidence to drop. But the real estate market isn’t rocky…it’s rock solid. And delaying plans could mean you could be missing out on once-in-a-lifetime affordability.
To get to the heart of this, it’s important to understand how the history of past presidential elections combined with today’s market factors might play out in real estate this time around.
Here’s what we know.
The Latest Unemployment Rate Fell to 8.4%
Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago.