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Category: Pricing

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Why It’s Critical To Price Your House Right

Written by Boca Raton Mortgage Syndicated User on . Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, For Sellers, Pricing, Selling Myths.

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today. But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why. Pricing Your House...

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Are Home Prices Continuing To Rise?

Written by Boca Raton Mortgage Syndicated User on . Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing.

Many analysts projected home price appreciation would slow dramatically in the fall of 2021 and then continue to soften throughout 2022. So far, that hasn’t happened. The major price indices are all revealing ongoing double-digit price appreciation. Here’s a look at their reports on year-over-year price appreciation for December: Federal Housing Finance Agency (FHFA): 17.6% S&P Case-Shiller: 18.8% CoreLogic: 18.5% To show that they’re not seeing signs of softening, here’s a graph that gives the progression of all three indices for each month of 2021. As the graph above reveals, last...

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4 Simple Graphs Showing Why This Is Not a Housing Bubble

Written by Boca Raton Mortgage Syndicated User on . Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, Housing Market Updates, Interest Rates, Pricing.

A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the last time. 1. Houses Are Not Unaffordable Like They Were During the Housing Boom The affordability formula has three components: the price of the home, wages earned by the purchaser, and the mortgage rate available at the time. Conventional lending...

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Owning Is More Affordable than Renting in the Majority of the Country

Written by Boca Raton Mortgage Syndicated User on . Posted in Boca Raton Mortgage, Boca Raton Mortgage Rates, Buying Myths, First Time Home Buyers, For Buyers, Interest Rates, Pricing, Rent vs. Buy.

If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM Data, owning a home is more affordable than renting in the majority of the country. The 2022 Rental Affordability Report says: “. . . Owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion...

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