Missouri City, TX Real Estate News

By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In todays housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways todays low inventory will set you up for a win when you sell this season.1. Higher PricesWith so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in todays market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.2. Greater Return on Your InvestmentRising prices mea...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Many people have questions about home prices right now. How much have prices risen over the past 12 months? What's happening with home values right now? What's projected for next year? Here's a look at the answers to all three of these questions.How much have home values appreciated over the last 12 months?According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):The increase in the rate of appreciation that's shown by CoreLogic coincides with data from the other two main home price indices: the FHFA Home Price Index and the S&P Case Shiller Index.The last year has shown tremendous home price appreciation, which ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.Looking back, we can see rents rising isn't new. The median rental price has increased consistently over the past 33 years(see graph below):If you're thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn't paint the picture of the true cost of renting.The Money Renters Stand To Lose This YearA homeowners monthly ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that wont happen.There are fewer homeowners in trouble this timeAfter the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank.As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage holders would enter the forbearance program. In reality, only 8.5% actually did, and that number is now down to 2.2%.As of last Friday, the total number of mortgages still in forbearance stood at 1,2...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In general, people tend to think about air conditioners as a way to keep a home cool and heating units as a way to keep it warm. There’s nothing wrong with this line of thinking, of course. If you’re only relying on heaters and air conditioners to maintain the temperature, though, then you may be spending way more than you need to keep your home comfortable.One key part of controlling your home’s heating and cooling costs that you might be ignoring is the humble ceiling fan. By using ceiling fans effectively, you can keep your home at more consistent temperatures throughout the year while spending a lot less on heating and cooling. If you like the thought of staying comfortable while spending less, here’s what you need to know about using your ceiling fans effectively.Ceiling Fans Save ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Even in a hot sellers market like todays in which homes are selling so quickly, its still important to make a good first impression on potential buyers. Taking the time upfront to prep your house appropriately can bring in the greatest return on your investment.Here are four simple tips to make sure you maximize the sale of your house this fall.1. Price It RightOne of the first things buyers will notice is the price of your house. That's why its important to price it right. Your goal in pricing your house is to draw attention from competing buyers and let bidding wars push the final sales price up. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer.Your trusted real estate advisor can help you find the price for your hom...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Homeownership is still a crucial part of the American dream. For those people who own a home (and those looking to buy one), its clear that being a homeowner has considerable benefits both emotionally and financially. In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your wealth comes in the form of equity.Equity is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a sellers market like were in now. In todays real estate market, the combination of low housing supply and high buyer demand is driving home values up. This is giving homeowners a significant equity boost.A...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
 Some Highlights When deciding whether you should rent or buy, make sure you're considering these factors. Buying a home means consistent monthly payments. Homeownership also helps to build your wealth. And owning a home gives you greater flexibility than renting. If you're ready to take advantage of the perks of homeownership, lets connect to explore your options.   
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
If you're a renter with a desire to become a homeowner, or a homeowner whos decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Lets shed some light on the answers to both of these questions.What will home prices be like in 2022?Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts: Freddie Mac: 5.3% Fannie Mae: 5.1% Mortgage Bankers Association: 8.4% Using the average of the three projections (6.27%), a home that sells for 350,000 today would be valued at 3...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In todays sellers market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer demand. If you're buying this fall, you'll want every advantage, especially when you've found the home of your dreams.Below are five things to keep in mind when its time to make an offer.1. Know Your BudgetKnowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.Showing sellers you're serious can give you a competitive edge. It enabl...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Day to day life has a lot of moving parts. Unfortunately, this sometimes makes it a little too easy to misplace some of those things that we use every day. This can be a real hassle, causing you to spend time looking for the various things you need instead of using them. Most smartphones come with a “find my phone” feature, so wouldn’t it be great if everything else had a similar function?With the advent of smart tags, this is actually possible. These tags make it easy to locate lost items around the home and can even provide extra security against theft or loss while you’re out and about. The specific features and functions depend on the brand of smart tags that you use, but regardless of brand you’ll find that there are some features that are universal.How Do Smart Tags Work? Smart ta...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Even though experts agree there's no chance of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time (see graph below), that's little comfort to those individuals who are facing challenges today.If you haven't taken advantage of the forbearance period, it may be time to research and understand your options. It starts with knowing what foreclosure is. Investopedia defines it like this:Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property. Typically, default is triggered when a borrower misses a specific number of monthly pa...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year.Here are the latest percentages showing the year-over-year increase in home price appreciation: The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8% The S. National Home Price Index from S&P Case-Shiller: 18.6% The Home Price Insights Report from CoreLogic: 18% The dramatic increases are seen at every price point and in all regions of the country.Increases Are Across Every Price PointAccording to the latest Home Price Index from CoreLogic, each price range is seeing at least a 19% increase year-over-year:Increases Are Across...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
As rent prices continue to soar, many renters want to know what they can do to get ready to buy their first home. According to recent data from ApartmentList.com:The first half of 2021 has seen the fastest growth in rent prices since the start of our estimates in 2017. Our national rent index has increased by 11.4 percent since January . . . .Those rising rental costs may make it seem impossible to prepare for homeownership if you're a renter. But the truth is, there are ways you can and should prepare to purchase your first home. Here's some expert advice on what to do if you're ready to learn more about how to escape rising rents.Start Saving Even Small Amounts NowExperts agree, setting aside what you can even smaller amounts of money into a dedicated savings account is a great starti...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
There are many headlines about how housing affordability is declining. The headlines are correct: its less affordable to purchase a home today than it was a year ago. However, its important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens if we go all the way back to 1985? Or even 1975?Obviously, the price of a home has appreciated dramatically over the last 45 years. So have the prices of milk, bread, and just about every other consumable. Prices rise over time we know it as inflation.However, when we look at housing, price is just one component that makes up the monthly cost of the home. Another key factor is the mortgage rate at the time of purchase.Lets look back at the cost of a home over the last five decades ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
In April, the National Association of Home Builders (NAHB) posted an article, Home Buyers Preferences Shift Towards New Construction, which reported:60% of people who were looking to buy a home in 2020 said they’d prefer new construction to an existing home.However, it seems buyers are now shifting their preferences back to existing homes. The latest Consumer Confidence Survey reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period.NAHB confirms this sentiment in their latest Housing Trends Report. The organization explains that existing homes are now the top preference among todays buyers. Here's a breakdown of those fi...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Some veterans are finding it difficult to obtain a home in todays market. According to the National Association of Realtors (NAR):Conventional conforming mortgages (mortgages that conform to guidelines set by Fannie Mae and Freddie Mac), accounted for 74% of mortgages obtained by homebuyers in May 2021, an increase from about 65% during 2018 through 2019The share of VA-guaranteed loans has also decreased to 7% in May 2021 from about 10% in past years.Recent data in the latest Origination Insight Report from Ellie Mae sheds light on the continuation of this trend. Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report:The drop in VA loan usage can be attributed to the difficulties veterans continue to face when ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you're longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs.Working from Home Isn't a Passing FadBefore the pandemic, only 21% of individuals worked from home. However, if you've recently discovered remote work is your new normal, you're not alone.A survey of hiring managers conducted by Statista and Upwork projects 37.5%of U.S. workers will work remotely in some capacity over the next 5 years (see chart below):Working from Home Gives You More Flexibility and More OptionsIf you fall in that category, working from home may provide you with opportunities you didn't realize you had. The ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Skylights can be a great way to add natural light to your home. This can be especially useful for rooms that lack windows or that are otherwise blocked from getting much natural light. Unfortunately, skylights sometimes fall victim to the ravages of time and climate. This may leave you wondering whether you should upgrade or replace those skylights that have been in place for years. In some cases, this can be a pretty big undertaking, so here are a few things to consider before jumping into a skylight upgrade.  Reasons to Upgrade a Skylight There are a number of issues that can arise with skylights that might prompt an upgrade or replacement. The most obvious is some damage occurring to the skylight from severe weather or other natural events. Even without external damage, though, skyli...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
The major challenge in todays housing market is that there are more buyers looking to purchase than there are homes available to buy. Simply put, supply cant keep up with demand. A normal market has a 6-month supply of homes for sale. Anything over that indicates its a buyers market, but an inventory level below that threshold means were in a sellers market. Todays inventory level sits far below the norm.According to the Existing Home Sales Report from the National Association of Realtors (NAR):Total housing inventory at the end of April amounted to 1.16 million units, up 10.5% from March’s inventory and down 20.5% from one year ago (1.46 million). Unsold inventory sits at a 2.4-month supply at the current sales pace, slightly up from March’s 2.1-month supply and down from the 4.0-month...
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Missouri City, TX Real Estate Professionals