Marcus Canty Home Group

05/15/2022

According to a recent survey NAR, one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

The latest data from realtor.com shows the number of listings coming onto the market has increased since the start of the year. And according to realtor.com, this growth is expected to continue. Their research finds the majority of potential sellers plan to list their homes over the next six months.

But while new listings are increasing, it’s important to know they’re also selling quickly. The latest Realtors Confidence Index from NAR shows the median days on market for recently...

According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today.

05/14/2022

When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, like there was after the housing crash in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time.

>>There Are Fewer Homeowners in Trouble
Today’s data shows that most homeowners are exiting their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again.

>>Most Homeowners Have Enough Equity To Sell Their Homes
For those who are exiting the forbearance program without a plan in place, many will have enough equity to sell their homes instead of facing foreclosures. Due to rapidly rising home prices over the last two years, the average homeowner has gained record amounts of equity in their home.

>>There Have Been...

While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health...

05/13/2022

If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide. In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves. If you’re thinking about selling your house, DM me so you have expert advice that’s customized to your home and our local area.

Some Highlights If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide. In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves. If you’re thinking about se...

05/12/2022

There are a number of good reasons you may want to sell your house right now. Let's connect so you have an expert on your side to help you during the process.

05/11/2022

It’s critical to be prepared as a buyer in today’s market. That means knowing your budget, knowing what you can afford, and having a trusted partner on your side who can help keep these things top of mind during the negotiation process. DM me so we can work together to find you a home that fits your needs this season.

05/10/2022

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.

>>What’s Happening with Home Prices?

Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says, “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today’s low-inventory housing market.

>>Where Do Experts Say Prices Will Go from Here?

Experts say the housing market isn’t set up for a price...

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.

05/09/2022

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power.

Today, the average 30-year fixed mortgage rate is above 5%, and in the near-term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power.

>>Mortgage Rates Play a Large Role in Your Home Search
You’re more likely to exceed your target payment range as mortgage rates increase unless you...

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on ...

05/08/2022

More sellers are expected to list their houses in the months ahead. Let's connect so you have a trusted real estate advisor on your side and can act when your dream home comes to market.

05/07/2022

One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.com finds that many were able to get their house ready in less than a month.

Those sellers expecting to sell quickly are following recent buyer trends. With mortgage rates and home prices rising, buyers in today’s market are serious about finding a home quickly. But with the limited number of homes for sale, there are very few options for those buyers to choose from. That means many may be willing to take on projects after they purchase.

Because of this, you may be able to focus on less time-consuming tasks before putting your house on the market. According to the survey mentioned above, some of the top things recent...

One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A survey of recent sellers from realtor.c...

05/06/2022

What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing needs. DM me so you can make your best move this year.

Some Highlights What does the rest of the year hold for the housing market? Here’s what experts have to say about what lies ahead. Home prices are projected to rise and so are mortgage rates. Experts are also forecasting another strong year for home sales as people move to meet their changing need...

05/05/2022

Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.

>>Consider All Options When the Number of Homes for Sale Is Low
Today, there are far more buyers in the market than there are homes available for sale. When that happens, it’s a good idea to do what you can to increase your pool of options. Condos and townhomes are both great entryways into homeownership. When you buy either one, you can start building equity which increases your net worth and can fuel a future move.

>>Know Your Down Payment Could Be More Within Reach Than You Think
Saving for a down payment can feel like one of the biggest obstacles for homebuyers, but that doesn’t have to be the case. As NAR says, “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.” For all homebuyers right now...

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life for the better. If you're looking to purchase your first home, you may be wondering what's happening in the housing market today, how much you need to...

05/04/2022

Thinking of downsizing? If so, it’s important to meet with a real estate professional to talk about your goals, what you’re looking for, and where you’d like to live. DM me so you have an expert to help you sell your current house and find the perfect home for your changing needs.