Lake Olympia (Missouri City, TX)
By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released.As the graph shows, appreciation has remained steady at around 18% over the last five months.In addition, the latest S&P Case-Shiller Price Index and the FHFA Price Index show a slight deceleration from the same time last year it’s just not at the level that was expected. However, they also both indicate there's continued strong price growth throughout the country. FHFA ...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
From the opportunity to take advantage of todays low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.As we wrap up the fall season and move into the winter months, here's a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year.Lawrence Yun, Chief Economist, National Association of Realtors (NAR)This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales...
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By Shayne Stone, "Your Rock Solid Choice Realtor"
(HomeSmart)
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"
(HomeSmart)
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"
(HomeSmart)
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"
(HomeSmart)
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"
(HomeSmart)
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