Great time to purchase as inventory grows in US

Great Time To Buy As Inventory Grows In US

The 30-yr fixed-rate mortgage averaged 5.81% in the week ending June 23, ↑ from 5.78% WoW.
Many potential homebuyers are still interested in purchasing a home, keeping the market competitive.Still, the sharpness of current mortgage rate increases combined with the spike in borrowing costs will ultimately make consumers more cautious.Experts believe that further increases in mortgage rates are likely to happen through the rest of 2022.

Competitive housing market in America, despite rising rates

The housing market has been in a difficult position in the latter half of the pandemic.
However, there are some differences between the current market and the housing crash of 2007.
The lending restrictions have had a positive impact on homebuyers' credit scores.
The housing market has also had a dip in mortgage debt.

It's not going to be crash like 2007

In May 2022, cost-of-living metric ↑ 4.98%, yet the month averaged 5.23% mortgage rates. Not to mention, home prices ↑ 19% YoY. Over the past half-century, mortgage rate has been ↑ 4.3 pp the sticky inflation. Adding that historic premium to May’s 4.97% sticky inflation, that’s mortgages nearing 10%!

We are not in a bubble

Home sales ↓ ~10% YoY in May, to 3,198 in Miami-Dade County.
Sales:
Condo: 2,005, ↓ ~9% YoY
Single-family: 1,193, ↓ 12.3% YoY
The median price:
Single-family: $575K, ↑ 15% YoY
Condo: $415K, ↑ 28% YoY
The total dollar volume of closed sales in May topped $2.8B.

House deals plunge in May, as prices rise in Miami-Dade County

Home sales plunge in May, as prices rise in Miami-Dade County

Home sales ↓ ~22% YoY in May, to 2,956 in Palm Beach County.
Sales:
Condo: 1,429, ↓ 24.3% YoY
Single-family: 1,527, ↓ 19.2% YoY
The median price:
Single-family: $615K, ↑ 29.5% YoY
Condo: $307.5K, ↑ 23% YoY

House deals plunge in May, as prices rise in Palm Beach County

Home sales plunge in May, as prices rise in Palm Beach County

mobile-happy-fourth

Happy Fourth Of July

1. Finding and sourcing a deal, since they are hard to find in the current fierce competition, and they could lead to more opportunities
2. Raising the capital, by asking friends and family who would be interested in investing in Real Estate, and adding value to any transaction
3. Partnering with a Real Estate syndication company and being a part of a deal without a financial commitment

Investments in Real Estate with little to no capital

How to invest in Real Estate with little to no capital

Check out which errors designers encounter most often that leave them shaking their heads.
Decorating in a style that clashes with the architecture.Painting a whole house without testing a small area first, or Not letting in enough light.Buying furniture pieces that don’t look good together or making impulse purchases rather than having a plan.

Tragic mistakes most first-time homebuyers make after moving in

Tragic Mistakes Most First-Time Homebuyers Make After Moving In

When selling in a competitive market with multiple offers, finding a top agent knowledgeable of the local market is important.Pricing strategically is also essential to sell fast, regarding the comparative market analysis report.
One should choose the best time to sell fast, like January, March and April.

How to sell a house fast in America

Closed sales in May ↓ 3.4% MoM and ↓ 8.6% YoY.
Sales:
Single-family: ↓ 7.7% YoY
Condos: ↓ 15.3% YoY
May was the 10th consecutive month of YoY declines.
Supply also ↑ 12.6% MoM in May.

The US supply, deals and the median value in May

The US supply, sales and the median price in May

1. Knowing the budget and cash flow, and also pre-approving the investment loan
2. Not skipping ongoing costs, like the insurance, rates, and general repairs
3. Purchasing in the growth area, where there is strong demand for the rental accommodation
4. Being practical about the investment goals, whether long-term or quick profits

Tips to start in property investments

Tips to get started in property investment

Miami's May 2022 total home sales ↓ 9.5% YoY, but performed significantly higher than every other May.Existing condo sales in the region ↓ 7.9% YoY, to 2,005, due to lack of inventory and rising mortgage rates.
Single-family home sales ↓ 12.3% YoY, to 1,193 in May.
However, inventory of single-family homes ↑ 0.2% YoY to 2,790.

Condo demand so high, that if Miami had more supply, deals would be even higher

Condo Demand So High, That If Miami Had More Supply, Sales Would Be Even Higher

Interest rates have reversed course, with the 30-yr fixed-rate mortgage ↑ to an avg of 5.23% following a 3-week decline.The housing market is incredibly rate sensitive, so as mortgage rates increase suddenly, demand pulls back.
The material decline in purchase activity combined with the rising supply will cause a deceleration in price growth to more normal levels.
Experts believe that the upcoming rate-hike will likely have a smaller impact on mortgage rates.

Experts believe upcoming rate-hike has low impact on loan rates.

Experts believe upcoming rate-hike has low impact on mortgage rates.

The number of existing homes available for purchase in the Sunshine State is very low. 
Generally, the best time to sell your house is when it will sell the fastest. 
An agent will help with when to list a home, how to market it, and how to make it more appealing to potential buyers.
Don’t let the headlines of low supply and hot demand fool you into getting greedy.

Work with a pro agent to score highest deals in Florida

Work with a Pro Agent to get Highest Sale in Florida

The housing market is caught between several tailwinds and headwinds, which could create a great deal of turbulence in the months ahead.
One of the tailwinds is a strong labor market, with the economy creating ~500K jobs every month and unemployment hovering <4%. Employment status is among the first things banks consider when reviewing applications for a mortgage, a critical step in buying a home.

Low unemployment & high demand, guarantees a stable housing market for the rest of 2022

Low Unemployment & High Demand, Guarantee a Stable Housing Market for the Rest of 2022

The housing market is in far better shape today than it was just a decade ago. 
Lenders have been much stricter about lending, much of that reflected in credit quality. 
Total mortgage debt in the US is now < 43% of current home values, the lowest on record. 
Mortgage delinquencies are at a record low, with just < 3% of mortgages past due.

Why this housing downturn is nothing like the last one?

Investing in Real Estate provides passive income and helps diversify one’s portfolio.
There are always opportunities for investors, such as buying Real Estate investment trusts (REITs).Waiting for the perfect time to start investing means missing lots of opportunities.
Real Estate is a long-term investment, which is usually the optimum approach.

How to start investing in Real Estate

May median time to contract in FL:
Single-family: 9 days, unchanged YoY
Condo-townhouse: 10 days, ↓ 9 YoY
Closed sales statewide:
Single-family: 28,861, ↓ 6.9% YoY
Condo-townhouse: 13,265, ↓ 14.4% YoY
Rising mortgage rates continue to depress sales of existing homes in Florida, according to analysts.
New listings:
Single-family: ↑ 10.2% YoY
Condo-townhouse: ↑ 3.4% YoY

Florida’s listings and median prices rose in May

Florida’s new listings and median prices rose in May

Home prices and mortgage rates will continue to rise.
Sales will drop as buyers are priced out of homeownership.
However, housing inventory is also expected to ↑ 15% in 2022.
A game changer for the market, that is a jump from the estimate of 0.3%.

What can buyers expect in 2022 regarding the market curveball?

Forecast

US house values to sink by 2023 as loan rates hit 6%

US home prices to sink by 2023 as mortgage rates hit 6%

The Fed plans to reset the housing market

US market predictions for 2022: Will prices drop in Q3?

Housing economists say the market is not in a bubble

Is the US housing boom weakening?

US is beginning the most significant contraction

Mobile Friendly

Experts recommend buying now if you're prepared

loan rates soar in America

Mortgage rates soar in America

30-Yr fixed loan rate spikes to 6.18%

30-Yr fixed mortgage rate spikes to 6.18%

Charlottesville, VA has some of the highest rents in the nation

Why is waiting out the hot housing market wrong?

Market Report Videos

Day on market and inventory lower year-over-year in Culpeper, VA

DOM and inventory lower year-over-year in Culpeper, VA

Virginia’s median value hits all-time high

Virginia’s median price hits all-time high

One of the highest close-to-list value ratios in Richmond

One of the highest close-to-list price ratios in Richmond

May rental report for Richmond

SubMarket Report Videos

Virginia Beach Market Update

Spotsylvania County Market Update

Chesterfield County Market Update

Henrico County Market Update

Hanover County Market Update

Tips for Homeowners

How to prepare a house for summer

How to prepare a home for summer

Tips for finding your dream house in a tough housing market

Tips for Finding Your Dream Home in a Tough Housing Market

Checklist for first-time homebuyers

Tips to work around inflation when renovating

Tips to help to manage a loan

Tips to help to manage a mortgage

Steps to close a real estate sale with ease

Steps To Close A Real Estate Deal With Ease

How to sell a house in a slowing market

How to sell a home in a slowing market

What can sellers do in the current market?

Neighborhood Bio Videos

Archive Videos

Happy father’s day

Happy Father’s Day

Honoring our nation's heroes on Memorial Day.

US multifamily report, March 2022

US Multifamily Report, March 2022

Happy Mother’s Day

Higher prices cooled US housing market in March

Hottest March in housing history ends with signs of a cooldown

Hottest March In Housing History Ends With Signs Of A Cooldown

New-home construction picks up in February

Happy Easter

Total US construction starts increase in February 2022

Total US Construction Starts Increase in February 2022

Current national loan rates: March 30, 2022

Current national mortgage rates: March 30, 2022

Brokerage Videos

Arizona

Arkansas

Atlanta

Austin

Central Coast

Charlotte

Chicago

Colorado

Connecticut

Dallas

Florida

Georgia

Hawaii

Houston

Illinois

Indiana

Los Angeles

Maryland

Massachusetts

Miami

Minneapolis

Minnesota

Missouri

Nevada

New Jersey

New York

North Carolina

Ohio

Orlando

Pennsylvania

Philadelphia

Portland

Raleigh

Sacramento

San Antonio

San Diego

San Francisco

Seattle

South Carolina

Tampa

Texas

Virginia

Washington D.C.

Other Areas California

Other Areas USA

Calgary

Edmonton

Kelowna

Ottawa

Toronto

Vancouver

Vancouver Island

Other Areas Canada

To all great Americans around the world, a very Happy Fourth of July to you all.
This day is incredibly significant as the day the United States officially became its own nation.
Let’s celebrate America’s birthday with festivals, parades, fireworks and other festive activities.The 4th of July marks the day America became a country where people have a right to life, liberty, and the pursuit of happiness.

Happy fourth of July

Happy Fourth of July

Sub-Market Report Videos

Spanish Videos

Local, Timely Real Estate Content Posted For You

We know content creation is really hard, we scour the web and find local content and post it for you on social media.

Quality Social Media Content & Posting Made Effortless