All Blog Entries by Mary Ray

Found 109 blog entries published by Mary Ray.

According to a recent report from CoreLogic, housing prices have made their most significant leap in almost 4 years. Housing prices increased in all 50 states and were 7% higher in March 2018 than they were just a year ago—the biggest jump in pricing since May of 2014.

Directly following the jump, consumer confidence in the housing market skyrocketed; according to Fannie Mae, consumer confidence levels hit an all-time high in April 2018, with 45% of people saying it’s a good time to sell a house.

The Takeaway

With the surging housing prices and skyrocketing confidence market, there’s never been a better time to sell your home. So if you’ve been thinking about making a move, now’s the time.

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There’s no denying that it’s tough out there for buyers. The inventory shortage has created a market that’s more competitive than normal. As a potential buyer, you might be thinking “I should probably wait until next year to make a move.”

 But if you want to get the best deal on a home, you should probably rethink that idea. According to the most recent US Home Price Insights from CoreLogic, home prices are expected to rise 5.7% year-over-year—meaning a house you might be considering buying today will be 5.7% more expensive if you wait until this time next year to make a purchase. What does that look like? Let’s say the house you’re considering making an offer on today is priced at $275,000. With a 5.7% increase, at this time next year that same

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There’s been a lot of talk about the new tax laws and how they’re going to affect home values over time. But while the news has been taking a mostly pessimistic angle,

it seems like most experts are unconcerned about home values declining over time. According to the most recent Home Price Expectation Survey (HPES) from Zillow and Pulsenomics,

which surveys 100 of the country’s top economists, housing market analysts, and real estate experts, here’s what was revealed:

Fifty-nine percent of panelists said the Tax Cuts and Jobs Act (which was put into law in December 2017 and changes the way homeowners claim deductions on their taxes)

either gave them a more optimistic outlook on the five-year forecast for home values in the US, or didn’t

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After the housing crisis of 2008, many homeowners found themselves “upside down” on their properties, with their mortgage balances significantly higher than the value of their home.

According to Zillow, negative equity in the US peaked 31.4% in Q1 of 2012, meaning nearly one-third of all mortgage holders in the US owed more on their homes than it was valued.

But luckily, the housing market has rebounded from the housing crisis, and homeowners have almost completely regained equity in their homes.

According to CoreLogic’s most recent Home Equity Insights report, in Q4 of 2017 only 4.9% of all mortgaged properties had negative equity, with the number of homes with negative equity dropping

21% year-over-year (from 3.2 million homes to 2.5

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If you consider buying a new construction home, there’s a good chance you’ll question whether or not you even need to use a real estate agent. You might even wonder if there’s an advantage to not using a real estate agent…perhaps thinking you can get a lower price, or more upgrades thrown in, if the builder isn’t paying a real estate agent their commission. Or, you just might not give it any thought whatsoever, and stumble into buying your new construction home, without having your own real estate agent to represent you.

So, do you need to use a real estate agent when buying new construction? Technically? No. Should you? Yes.!

Beyond Just Signing A Little Paperwork
One reason people question whether an agent is necessary, is because many tend to see

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The Great Recession was one of the most challenging times in US history. The US lost nearly 9 million jobs, unemployment nationwide hit an astounding 10%, and housing prices fell a whopping 33%, causing American households to lose of $16 trillion dollars in net worth.

But luckily, the economy started improving in 2010. The GDP grew an impressive 19% from 2010 to 2017, and the economy added jobs for a record-breaking 88 consecutive months, recovering all the jobs lost during the recession. Not to mention, unemployment fell to 4%.

But one area that was a bit slower to recover was home values. Many homeowners who lost a significant portion of their home’s value in the recession have been hesitant to sell—especially if they purchased their home when

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Have you ever found yourself watching one of those late night infomercials about investing in real estate? The profits sound great. The risk sounds low. They almost all say that you can do it with no money down. Or at least low money down. Using other people’s money. And, you can do it in your spare time. And,they all make it sound like finding the real estate deals is a piece of cake. They make it sound super easy, right? Almost too easy… Of course they do.They want to sell you on buying their training program. They never give you the actual secret to doing it.Just the hope and hype. Here’s the thing — it isn’t as easy as they say. And it isn’t risk-free.

Real estate is an awesome way to invest, and build your wealth. But, before you either buy into

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When it comes to buying real estate, you want to make sure the property you purchase is the right fit for your needs. For some buyers, purchasing a home that needs some work is the ideal situation. For others, getting a turnkey home that’s move-in ready is the only option they’ll consider. And for still others, both seem like reasonable options. The question is: which is for you? There are pros and cons to both fixer uppers and move-in ready homes. The important thing is to recognize which is the best fit for you, your budget, and what you want out of a home.

Let’s take a look at the pros and cons of fixer uppers and move-in ready homes to help you determine which is the better fit for you: 

 

FIXER UPpER HOMES

 

 

Pros:

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Selling your home is, in a nutshell, a complicated process. There’s a million factors to consider: when to sell, how to sell, and how much to sell for, to start. In order to successfully sell your home, it’s important to avoid the many potential pitfalls along the way that can threaten to bring the selling process crashing down and cost you immeasurable time, money, and hassle.

Here are 4 mistakes you’ll definitely want to avoid when selling your home:

OVER OR UNDERPRICING

 

When selling your home, It's imperative you price it in a way that's in line with your current market. If you mis-price youf home, no matter what way you look, you're leaving money on the table;if you underprice, you'll sell your home for less than it's worth. If you

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