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By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 2
Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here's how the shortage of houses for sale sets yours up to be the oasis in an inventory desert.According to the National Association of Realtors (NAR), todays housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and as you can see in the graph below, this years levels are even lower:Due to these market conditions, todays buyers frequently enter fierce bidding w...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 2
The housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports that there were 410,000 fewer single-family homes for sale this March than in March of 2020. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons.Recently, Homes.com released the findings of a survey that identified these concerns, as well as what it will take for homeowners to feel comfortable selling their houses. Here are the four major homeowner concerns and a quick explanation of what's actually happening in the housing market today.1. Homeowners don't kn...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
In most households, the garage serves many important purposes. It keeps your car safe from weather, theft, and other damage. It provides a storage space for your outdoor equipment and other things. In some homes it even provides a crawl space or attic access. Despite this, however, the garage is often one of the last places many homeowners think of when trying to come up with spring home improvement projects. If you think that your garage might need a little extra love this spring, here are a few things that you could do to give it a refresh.Enhance Your Storage One way that you can reinvigorate your garage and make it a much more useful space is to add additional storage options within it. Depending on how your garage is currently set up, this could be as simple as installing a few she...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 4
Many people are sitting on the fence trying to decide if now's the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.To determine if they should buy now or wait another year, they both need to ask two simple questions: Do I think home values will be higher a year from now? Do I think mortgage rates will be higher a year from now? Lets shed some light on the answers to these questions.Where will home prices be a year from now?If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. Lets take a house that's valued today at 325,000 a...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 4
Cleaning up around the house is obviously an important task, and some areas require cleaning more often than others. There are some spots that might need a bit more attention than they’re getting, though. This is especially true for those areas that are out of sight or otherwise not as easily noticed as higher-profile and more visible areas that get cleaned on the regular. While the specifics of your cleaning and maintenance schedule will depend on your home and what you have in it, here are a few common areas for you to consider in case they’re not getting enough attention in your home.Interior Cleaning Most of the time when you think of cleaning in the house, you’re likely thinking of tasks like dusting, vacuuming, and other common indoor cleaning tasks. Here are a few other places to...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
  Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you're qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and a competitive edge in a bidding war. In todays market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home.
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 4
Homeowners ready to make a move are definitely in a great position to sell today. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and its fueling a steady rise in home prices.In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just 18 short days. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.1. Make Buyers Feel at HomeOne of the ways to make this happen is to take time to declutter. Pack away any personal items like pictures, awards, and sentimental belongings. The more neutral and tidy the space, the easier...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
Last weeks Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed there aren't enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.Lawrence Yun, Chief Economist at NAR, explains in the report:“The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.”Yuns insight was supported the ne...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 4
There’s not much that makes as big of an impact on a garden or other outdoor space as some mood lighting. Although your garden or walkway lighting won’t shine quite as brightly in the daytime, the lighting you choose can make a huge difference to the functionality and look of the space where you install it. There are several different options when it comes to outdoor lighting, so how do you begin to choose the right lighting for your space?What’s Your Lighting Goal? Before you so much as shop for lighting, it’s important to determine what it is that you want your lighting to do. Should it simply illuminate a path? Is it going to highlight a particular garden element like a nice plant or a fountain? Do you need to brighten stairs to help prevent falls? There are so many different types o...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
The question many homebuyers are facing this year is, Why is it so hard to find a house? Were in the ultimate sellers market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? Its because there are so few houses for sale.Low inventory in the housing market isn't new, but its becoming more challenging to navigate. Danielle Hale, Chief Economist at realtor.com, explains:The housing market is still relatively under supplied, and buyers cant buy what's not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings ...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 1
At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year.This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, the National Association of Realtors, and Zelman & Associates have all adjusted their numbe...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 5
What do you do when your kitchen needs a facelift? Those cabinets are solid, they’re functional, but man, are they dated! One option many homeowners are turning to is cabinet refinishing kits. Many of these pre-built kits use a water-based epoxy coating to ensure that the cabinets get the most rock-solid finish possible without investing in a lot of professional grade equipment. But there’s a lot more to refinishing cabinets with these materials than opening the can and getting to work.Prepping for an Epoxy Finish If you’ve never heard it before, take this away with you: The biggest predictor of success for your DIY project is how well you prep your surfaces and work area. It’s really that simple, even though prep work can be pretty involved. Creating a clean, smooth, ready to coat cabi...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 6
Some Highlights If you're thinking that waiting a year or two to purchase a home might mean you'll save some money, think again. Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates. Buying a home now means you'll spend less in the long run. Lets connect to put your homebuying plans in motion before home prices and mortgage rates climb even higher.  
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 2
One of the biggest hurdles homebuyers face is saving for a down payment. As you're budgeting and planning for your home purchase, you'll want to understand how much you'll need to put down and how long it will take you to get there. The process may actually move faster than you think.Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate how long it might take someone earning the median income and paying the median rent to save up for a down payment on a median-priced home. Since saving for a down payment can be a great time to practice budgeting for housing costs, this estimate also uses the concept that a household should not pay more than 28% of their total income on monthly housing expenses.According to the data, the national a...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 2
The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored the ability to build wealth as a homeowner.Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows: 2021: 6% 2022: 4.5% 2023: 4% 2024: 3.6% 2025: 3.5% Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a 350,000 home as an example:A homeowner could increase their net worth by over 80,000 in five years. That's an average of 16,000 annually. That number should ...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
Your home is your castle, but like a lot of castles in the days of yore, the water could probably be better. Unlike in those ancient castles, though, modern technology makes it possible for you to have clean, safe water, no matter what sort of problems plague your fortress’s water supply. Choosing a whole home water filtration system is a big commitment, but depending on your water quality and source, it can make more sense than using filters at specific end points in the house. Whole House Filters Versus Point of Use Filters Many homeowners wonder what the advantages are to installing a whole home filtration system versus simply using things like tap filters and refrigerator filters. After all, aren’t those the only places where water quality really matters? Absolutely not. Hard water,...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 2
This year, mortgage rates have started to slowly climb above recent record-breaking lows. Many homeowners planning to move may feel like they've missed the chance to score a great rate on their next mortgage. In reality, there's still time to secure a rate far below the historic norm. Here's why.After creeping up for seven consecutive weeks, average mortgage rates have dropped more recently (See graph below). With rates taking a slight dip over the past two weeks at the same time the inventory of houses for sale is so low, homeowners today are sitting in the optimal seat to sell. What's the advantage of selling your house now? Securing a low mortgage rate on your next home.To take advantage of todays real estate market, experts are encouraging homeowners to act now before interest rates...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 3
Don't be impressed by the headlines reporting year-over-year housing numbers for the next several months (data covering March, April, May, and June). The data will most likely show eye-popping one-year increases.While the year-over-year jumps will certainly be striking, consumers should take these numbers with a grain of salt, as the situation highlights a short-term quirk in the reporting of this data. Essentially, the increases will reflect a combination of two things: sharply lower housing numbers during last years virus-related market collapse and the subsequent strong rebound. This will result in what will appear to be unbelievable growth.Lets use single-family home sales as an example:As the graph reveals, last springs buying market was anything but typical. Instead of sales incre...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 4
Spring is here, so that means it’s time to start getting ready for the months ahead. Chances are you’re looking forward to being outdoors, maybe firing up the grill, planting a garden, or spending some quality time in the pool. Before you get down to the business of enjoying the nice weather, though, there are a few things that need to be taken care of first. That’s right: It’s time to knock out some home maintenance tasks to make sure everything is ready for the changing weather.Home maintenance is important throughout the year, but spring and fall are two of the top times to really hit some of the big points. In the fall you’re prepping for winter and making sure that your home is ready for icy weather, while in the spring you’re checking to make sure everything came through the winte...
By Shayne Stone, "Your Rock Solid Choice Realtor"
(Champion Real Estate Group)
Comments 1
There has been a lot of discussion as to what will happen once the 2.3 million households currently in forbearance no longer have the protection of the program. Some assume there could potentially be millions of foreclosures ready to hit the market. However, there are four reasons that wont happen.1. Almost 50% Leave Forbearance Already Caught Up on PaymentsAccording to the Mortgage Bankers Association (MBA), data through March 28 show that 48.9% of homeowners who have already left the program were current on their mortgage payments when they exited. 26.6% made their monthly payments during their forbearance period 14.7% brought past due payments current 7.6% paid off their loan in full This doesn't mean that the over two million still in the plan will exit exactly the same way. It does...

Fort Bend County, TX Real Estate Professionals