Having a good idea what your home is worth is important for a couple of reasons. As a homeowner, knowing how much equity you have in your house can be useful when weighing your options with regard to refinancing or home equity loans. As a potential home seller, it's even more important. That's because, setting a fair price for your home will make a big difference in how it's received by potential buyers. It can also save you some disappointment when it's officially appraised. Since appraisers base the value of your … [Read more...]

For many years following the housing crash, home buying conditions were excellent. Home prices had plummeted and mortgage rates were at historic lows. It was a buyer's market and a good deal for anyone who could take advantage. Unfortunately though, since prices had fallen so far, many homeowners who may have wanted to make a move couldn't without selling their house for much less than they'd paid for it. But these days, those same homeowners have seen their home's value rebound and maybe even exceed what it was … [Read more...]

Naturally, home prices are a top topic for anyone buying or selling a home in the coming year. And, with mortgage rates expected to continue trending upward, they are becoming an even more important component of the affordability equation. So what's the forecast for 2019? Well, there's good news and bad. For starters, CoreLogic's most recent Home Price Index says prices are actually expected to have fallen from November to December. But, year-over-year numbers show they've risen by 5.1 percent from 2017. That … [Read more...]

A new survey shows that homeownership among millennials between the ages of 28 and 31 jumped from 27 percent to 47 percent in just two years. Additionally, ownership among people aged 32 to 36 was up 11 percent. That home buying has surged among younger Americans is an encouraging sign for the housing market – especially since homeownership levels haven't yet fully recovered from the housing crash. But, like anything, there's another side to the story. That's because, increasing demand from first-time home buyers … [Read more...]

Paying rent each month can make it difficult to save money for a down payment. But, according to new research, renters who hope to one day buy a home may be finding it a little bit easier. That's because, though rent is up about 3 percent from last year, it isn't increasing quite as rapidly as it was before. And there may be evidence that the slowdown is helping aspiring home buyers save money to buy a house – especially millennials, who make up half of all renters. For one, the number of renters is falling. In … [Read more...]

The real estate market is typically slower in the fall and winter. So, it's not that surprising to see homes for sale are staying on the market longer than they were a few months ago. But according to the National Association of Realtors' most recent existing home sales report, not only was the typical listing on the market for 42 days in November, home price increases are beginning to moderate as well. In other words, the market's slowed down and it's good news for potential home buyers. The report shows buyers … [Read more...]

The end of the year is typically the time when experts and prognosticators make predictions for the year ahead. And while it's not easy to see into the future, year-end forecasts can give us an idea of which scenarios are likely to play out. Take Fannie Mae's most recent forecast from their Economic and Strategic Research Group. Its experts say economic growth will begin to slow in 2019 but the real estate market may actually be well positioned. And that could be good news for home buyers. Doug Duncan, Fannie Mae's … [Read more...]

In some ways, builders are good predictors of where the housing market is headed. Since their business is dependent on knowing whether or not consumers are interested in buying homes, they are among the first to see changes in buyer traffic and interest. Because of this, the National Association of Home Builders tracks builder confidence as part of their monthly Housing Market Index. In December, the index fell to 56 on a scale where any number above 50 indicates more builders view conditions as good than poor. … [Read more...]

There's a fairly common misconception among prospective home buyers that they'll need a 20 percent down payment before they can buy a house. This, of course, isn't true. It's recommended since it'll help you avoid paying mortgage insurance, reduce your monthly payment, and get you a lower mortgage rate. But, depending on the terms of your loan, how much money you put down is flexible. So what do most home buyers put down and how do they get it? Well, according to one recent report, just 43 percent of buyers … [Read more...]

Traditionally, homeownership has been seen as part of settling down. Getting married and starting a family went hand-in-hand with buying a home and planting roots in a community. But though they're still common motivating factors, marriage and children aren't the only reasons someone might want to become a homeowner. And so there are an increasing number of single home buyers active in the housing market. Among them, women are outpacing men. In fact, according to the National Association of Realtors' most recent … [Read more...]