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Dwaine Smith - Real Estate, San Diego, CA (2026)

08/08/2022

Why the Forbearance Program Changed the Housing Market

Forbearance enabled nearly five million homeowners to get back on their feet in a time when having the security and protection of a home was more important than ever. Those in need were able to work with their banks and lenders to stay in their homes rather than go into foreclosure. Marina Walsh at the Mortgage Bankers Association notes, “Most borrowers exiting forbearance are moving into either a loan modification, payment deferral, or a combination of the two workout options." With those options in place, four out of every five homeowners in forbearance are either paid in full or are exiting with a plan. They’re able to stay in their homes.

Since so many people can stay in their homes and work out alternative options, there won’t be a wave of foreclosures coming to the market. And while rising slightly since the foreclosure moratorium was...

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When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over a decade ago. Thankfully, the forbearance program changed that. It provided much-needed...

08/05/2022

Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. DM me so you can make your best move this year.

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Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with p...

08/04/2022

Why It’s Still a Sellers’ Market

As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.

Think of it like this:

• A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.

• In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.

• A neutral market is when supply is balanced and there are enough...

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As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you should know the market is still anything but normal.

08/03/2022

Buying a Home May Make More Financial Sense Than Renting One

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well.

That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you.

>>If You Need More Space, Buying a Home May Be More Affordable

What you may not realize is that, according to the latest data from realtor.com and the National Association of Realtors (NAR), it may actually be more affordable to buy than rent depending on how many bedrooms you need. So, if one of the factors motivating you to move is a desire for more space, this could be the added encouragement you need to consider...

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If rising home prices leave you wondering if it makes more sense to rent or buy a home in today’s housing market, consider this. It’s not just home prices that have risen in recent years – rental prices have skyrocketed as well. As a recent article from realtor.com says:

08/02/2022

3 Graphs To Show This Isn’t a Housing Bubble

With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, concerns creep in that this could be a repeat of what took place in 2008. But there’s concrete data to show why this is nothing like the last time.

>>There’s a Shortage of Homes on the Market Today, Not a Surplus
For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to tumble. Today, supply is growing, but there’s still a shortage of inventory available.

>>Mortgage Standards Were Much More Relaxed During the Crash
Running up to 2006, banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance their current home. Today, things are...

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With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that it could be a repeat of what took place in 2008. The good news is, there...

08/01/2022

Why Are People Moving Today?

Buying a home is a major life decision. While mortgage rates are higher than they were at the start of the year and home prices are rising, you shouldn’t put your plans on hold based solely on market factors. Instead, it’s necessary to consider why you want to move and how important those reasons are to you. Here are two of the biggest personal motivators driving people to buy homes today.

>>A Need for More Space
Moving.com looked at migration patterns to determine why people moved to specific areas. One trend that emerged was the need for additional space, both indoors and outdoors. Outgrowing your home isn’t new. If you’re craving a large yard, more entertaining room, or just need more storage areas or bedrooms overall, having the physical space you need for your desired lifestyle may be reason enough to make a change.

>>A Desire To Be Closer to Loved Ones
Moving...

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Buying a home is a major life decision. That’s true whether you’re purchasing for the first time or selling your house to fuel a move. And if you’re planning to buy a home, you might be hearing about today’s shifting market and wondering what it means for you.

07/29/2022

Three Reasons To Buy a Home in Today’s Shifting Market [INFOGRAPHIC]

The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home. Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price. If you’re ready to buy a home, now may be the moment you’ve been waiting for. DM me so you can start the homebuying process today.

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Some Highlights The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home. Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand modera...

07/28/2022

A Real Estate Professional Helps You Separate Fact from Fiction

If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction.

Here are three common housing market myths you might be hearing, along with the expert analysis that provides better context.

>>Myth 1: Home Prices Are Going To Fall

One piece of fiction many buyers may have seen or heard is that home prices are going to crash.

The fact is, experts aren’t calling for a decrease in prices. Instead, they forecast appreciation will continue, just at a decelerated pace. That means home prices will continue rising and won’t fall.

>>Myth 2: The Housing Market Is in a Correction

Another common myth is that the housing market is in a correction.

The housing market...

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If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction. That’s where a trusted real estate professional co...

07/27/2022

Want To Buy a Home? Now May Be the Time.

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”

>>Two Reasons There Are More Homes for Sale

The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This...

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There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the h...

07/26/2022

A Window of Opportunity for Homebuyers

Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, what the market is seeing is a shift back toward the range of pre-pandemic levels for buyer demand and for home sales.

But the transition back toward pre-pandemic levels isn’t a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That’s why, as the market undergoes this shift, it’s important to compare today not to the abnormal pandemic years, but to the most recent normal years to show how the current housing market is still strong.
According to data from ShowingTime, buyer demand is coming down from levels seen over the past two years, and the frenzy in real estate is easing because of higher mortgage rates. For you, that means buying your next home should...

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Mortgage rates are much higher today than they were at the beginning of the year, and that’s had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales.

07/25/2022

What’s Causing Ongoing Home Price Appreciation?

While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.

Even though inventory is increasing this year as the market moderates, supply is still low. Right before the 2008 housing crash, homebuilding increased significantly. The resulting oversupply of homes for sale led to prices dropping during the crash and some builders leaving the industry or closing their businesses – and that led to a long period of underbuilding of new homes. It’ll take time to build enough homes to meet the deficit of underbuilding that took place over the past 14 years.

On the other hand, the frenzy the market saw during the pandemic is because there was more demand than homes for sale. That drove...

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If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two...

Dwaine Smith - Real Estate

08/08/2022

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08/02/2022

08/01/2022

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