Pending Home Sales Reach Highest Mark In 9 Years!

by Chris Druesedow June 30, 2015

Pending Home Sales Reach Highest Mark In 9 Years! | Keeping Current Matters The National Association of Realtors (NAR) recently released their Pending Home Sales Index Report and revealed that it is at its highest level since April 2006. The Pending Home Sales Index is “a forward-looking indicator based on contract signings”. The higher the Pending Home Sales Index number, the more contracts have been signed by buyers that will soon translate to sales. Every region of the country has experienced year-over-year gains in pending sales as seen below: Pending Home Sales by Region | Keeping Current Matters NAR’s Chief Economist, Lawrence Yun cites job creation as a major reason that the housing market has … Continue reading

Two Graphs That Scream List Your House Today

by Chris Druesedow June 29, 2015

Two Graphs That Scream You Should List Your House Today! | Keeping Current Matters The spring and summer months have always been known as a very popular time for homebuyers to start the search for their dream home. This year is no different! We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why… DEMAND According to research at the National Association of … Continue reading

Equity Report

by Chris Druesedow June 26, 2015

Equity Report [INFOGRAPHIC] | Keeping Current Matters Some Highlights: 85% of homes valued under $200,000 have equity 94% of homes valued over $200,000 have equity 10.2% of homes with a mortgage are currently underwater

Sellers Dilemma: OTM, FSBO or List Again?

by Chris Druesedow June 25, 2015

Sellers Dilemma: OTM, FSBO or List Again? | Keeping Current Matters At the end of June, in every region of the country, hundreds of homeowners have a tough decision to make. The ‘listing for sale agreement’ on their house is about to expire and they now must decide to either take their house off the market (OTM), For Sale by Owner (FSBO) or list it again with the same agent or a different agent. Let’s assume you or someone you know is in this situation and take a closer look at each possibility: Taking Your Home off the Market In all probability, after putting your house on the market and seeing it not sell, you’re … Continue reading

Buy vs Rent: What Really Creates Family Wealth?

by Chris Druesedow June 24, 2015

Buy vs Rent: What Really Creates Family Wealth? | Keeping Current Matters There has been recent press regarding whether or not it makes better financial sense to rent rather than buy in today’s housing market. As an example, the recently released June Summary of the BH&J Buy vs. Rent Index reported: “…as of the end of the first quarter of 2015, the housing market in the U.S. and all cities in the index are trending either closer to renting being the superior option or strictly favoring renting over purchasing a home.” The summary goes on to explain that: “The index conducts a “horse race” comparison between an individual that is buying a home and an … Continue reading

First-Time Homebuyers Lead the Way in May

by Chris Druesedow June 23, 2015

First-Time Homebuyers Lead the Way in May | Keeping Current Matters The National Association of Realtors’ (NAR) latest Existing Home Sales Report revealed that first time homebuyers made up 32% of all sales in the month of May; marking the highest share since September 2012 and up from 27% the same time last year. NAR’s Chief Economist, Lawrence Yun, cited “strong job gains among young adults, less expensive mortgage insurance and lenders offering low down payment programs,” as contributing factors to the increase in first-time buyers. Existing-home sales rose 5.1% to a seasonally adjusted rate of 5.35 million. Total housing inventory for sale remains under the 6.0 months needed for a historically normal market at … Continue reading

How Will Mortgage Rate Hikes Impact Home Sales?

by Chris Druesedow June 19, 2015

How Will Mortgage Rate Hikes Impact Home Sales? | Keeping Current Matters When mortgage interest rates begin to climb, experts immediately begin to discuss home affordability indexes. They calculate how an increase in rates will slow home purchases as more and more potential buyers are priced out of the market. Today, with home prices also increasing, many believe that home sales may slow down rather dramatically. This may prove to be true in the long term. However, in the short term, increasing mortgage rates may have the opposite effect. Many buyers who have been sitting on the fence may realize that delaying their purchase no longer makes sense. Last week, in a CNBC article, Matt … Continue reading

Mortgage Rates Just Jumped Over 4%. Now What?

by Chris Druesedow June 18, 2015

Mortgage Rates Just Jumped Over 4%. Now What? | Keeping Current Matters Last week, mortgage interest rates jumped over the 4% mark for the first time this year according to Freddie Mac’s Mortgage Market Survey. In an article in Housing Wire, a Bankrate analyst explained: “Mortgage rates rocketed higher following a stronger than expected monthly employment report. The good news on the job front further solidifies the notion that the Federal Reserve will likely begin raising interest rates soon, perhaps in the third quarter of this year.” This is the same type of commentary we heard back in the spring of 2013 when the talk of the Fed possibly raising rates caused mortgage interest rates … Continue reading

How Will Mortgage Rate Hikes Impact Home Sales?

by Chris Druesedow June 18, 2015

How Will Mortgage Rate Hikes Impact Home Sales? | Keeping Current Matters When mortgage interest rates begin to climb, experts immediately begin to discuss home affordability indexes. They calculate how an increase in rates will slow home purchases as more and more potential buyers are priced out of the market. Today, with home prices also increasing, many believe that home sales may slow down rather dramatically. This may prove to be true in the long term. However, in the short term, increasing mortgage rates may have the opposite effect. Many buyers who have been sitting on the fence may realize that delaying their purchase no longer makes sense. Last week, in a CNBC article, Matt … Continue reading

5 Demands You Should Make on Your Listing Agent

by Chris Druesedow June 16, 2015

5 Demands You Should Make on Your Listing Agent | Keeping Current Matters Are you thinking of selling your house? Are you dreading having to deal with strangers walking through the house? Are you concerned about getting the paperwork correct? Hiring a professional real estate agent can take away most of the challenges of selling. A great agent is always worth more than the commission they charge; just like a great doctor or great accountant. You want to deal with one of the best agents in your marketplace. To do this, you must be able to distinguish the average agent from the great one. Here are the top 5 demands to make of your Real … Continue reading

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