Category: For Buyers

Home Prices Up 6.49% Across the Country! [INFOGRAPHIC]

First Time Buyers, For Buyers, For Sellers, Move Up Buyers, PricingChrysti Tovani
Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more! Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I Love Fair Oaks, a local media platform spotlighting the people, places, and businesses that make Fair Oaks feel like…

What Does the Future Hold for Home Prices?

For Buyers, For Sellers, Housing Market Updates, Interest RatesChrysti Tovani
Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market. The Impact of Rising Interest Rates We explained earlier this year that rising mortgage rates have not negatively impacted home prices in the past and probably wouldn’t this time either. Freddie Mac’s comments were very direct: “In the current housing…

Homeownership is a Dominant Gene

First Time Buyers, For Buyers, Millennials, Rent vs BuyChrysti Tovani
There are many things that factor into the decision to buy a home. New research from the Urban Institute suggests that one of those things may be inherited from your parents. Children are More Likely to Own a Home if Their Parents Did According to an analysis of millennial homeowners, the homeownership rate of those whose parents rent their homes is 14.4%, while the rate amongst millennials whose parents are homeowners is 31.7%! “A young adult’s odds of homeownership are highly correlated with their parent’s homeownership. Without controlling for such factors as age, income, education, marital status, and race or…

Rents Are on The Rise: Don’t Get Caught in The Rental Trap!

First Time Buyers, For Buyers, Rent vs BuyChrysti Tovani
There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped  A recent article by Apartment List addressed rising rents by stating: “Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth now stands at 1.2 percent.” The article continues, explaining that: “Rents increased month-over-month in 62 of the nation’s 100 largest cities, down significantly from the 85 cities that saw rents rise last month. That said, rents are still up year-over-year in…

5 Reasons You Should Sell This Fall!

For Buyers, For Sellers, Move Up BuyersChrysti Tovani
Here are five reasons why listing your home for sale this fall makes sense. 1. Demand Is Strong The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now  Housing inventory is still under the 6-month supply needed for a normal housing…

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]

For Buyers, For Sellers, FSBOs, InfographicsChrysti Tovani
Some Highlights: Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most ‘educated’ decisions you can make! A real estate professional has the experience needed to help you through the entire process. Make sure that you hire someone who knows current market conditions and can simply and effectively explain them to you and your family! Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I…

Why are Existing Home Sales Down?

For Buyers, For Sellers, Housing Market Updates, Move Up BuyersChrysti Tovani
The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact that the economy is strengthening, unemployment is down, and wages are beginning to rise. This begs the question: “Where are the buyers?” Actually, agents in the field of most communities are still seeing strong desire from prospective purchasers. They have a list of potential buyers ready to go if the right houses come on the market and…

Top 3 Myths About Today’s Real Estate Market

First Time Buyers, For Buyers, For Sellers, Housing Market UpdatesChrysti Tovani
There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a mortgage. Today, we want to try and clear the air by shedding some light on what’s causing some of these headlines, as well as what’s truly going on. Myth #1: We Are Headed for Another Housing Bubble Home prices have appreciated year-over-year for the last…

Home Sales Expected to Continue Increasing in 2019

For Sellers, Housing Market Updates, Move Up BuyersChrysti Tovani
Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019. As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market. Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving…

Rent or Buy: Either Way You’re Paying A Mortgage!

First Time Buyers, For Buyers, Interest Rates, Move Up BuyersChrysti Tovani
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”: “While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s…

What State Gives You the Most ‘Bang for Your Buck’? [INFOGRAPHIC]

For Buyers, For Sellers, Infographics, Move Up BuyersChrysti Tovani
Some Highlights: The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West. The ‘biggest bang for your buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.74 worth of goods for $100. For more information regarding the methodology used to create this map, visit the Tax Foundation. Source: Keeping Current Matters Chrysti TovaniChrysti Tovani is a REALTOR® based in Fair Oaks, CA, serving the greater Sacramento area—including Orangevale, Carmichael, and nearby neighborhoods. She’s also a multimedia journalist and founder of I Love Fair…

What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

For Sellers, Housing Market Updates, Move Up Buyers, PricingChrysti Tovani
Last week, in a new report from Zillow, it was revealed that there has been a rash of price reductions across the country. According to the report: There are more price cuts now than a year ago in over two-thirds of the nation’s largest metros About 14% of all listings had a price cut in June Since the beginning of the year, the share of listings with a price cut increased 1.2% This is the greatest January-to-June increase ever reported, and more than double the January-to-June increase last year Senior Economist Aaron Terrazas further explained: “A rising share of on-market…
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