Housing Market | Read Our Blog

Friday, May 24, 2024   /   by Joyce Dungca

Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC]

Some Highlights

The asking price for your house can impact your bottom line and how quickly it sells.
Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise.
Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house. ...

  team raj jaggi, buyers, sellers, housing market

Thursday, May 23, 2024   /   by Joyce Dungca

Questions You May Have About Selling Your House

There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.
Here are three of the top questions you may be asking – and the data that helps answer them.
1. Should I Wait To Sell?
If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.
And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:
“Even a modest drop in rates will bring both more buyers and more sellers into the market.”
That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer. ...

  team raj jaggi, buyers, sellers, housing market, mortgage rates

Wednesday, May 22, 2024   /   by Joyce Dungca

How Many Homes Are Investors Actually Buying?

Are big investors really buying up all the homes today?
If you’re trying to find a house to buy, this may be something you’re wondering about. Maybe you’ve read about it or seen reels on social media saying investors buying all the homes is making it even harder to find what the average buyer is looking for. But spoiler alert – there’s a lot of misinformation out there. To clear things up, here's the scoop on what's really happening. A lot of the big investor activity is actually in the rearview mirror already.
The Wall Street Journal (WSJ) explains:
“Investors of all sizes spent billions of dollars buying homes during the pandemic. At the 2022 peak, they bought more than one in every four single-family homes sold, though more recently their activity has slowed as interest rates rose and supply became tighter.”
The key here is investor activity has slowed significantly, and even during the peak of inve. ...

  team raj jaggi, buyers, sellers, housing market

Monday, May 20, 2024   /   by Joyce Dungca

What’s Next for Home Prices and Mortgage Rates?

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering what’s going to happen next. And if it’s worth it to move now, or better to wait it out.
The only thing you can really do is make the best decision you can based on the latest information available. So, here’s what experts are saying about both prices and rates.
1. What’s Next for Home Prices?
One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.
According to the most recent release, experts are projecting home prices will continue to rise at least through 2028 (see the graph below):


While the percent of appreciation varies year-to-year. ...

  team raj jaggi, buyers, sellers, housing market, mortgage rates, home prices

Thursday, May 9, 2024   /   by Joyce Dungca

The Top 2 Reasons To Consider a Newly Built Home

When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction.
A trusted real estate agent can help walk you through these two reasons you may want to reconsider that.
1. Adding Newly Built Homes Could Give You More Options
There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or is under construction. An existing home is one a previous homeowner has already lived in. Right now, the inventory of existing homes is tight. But there may be options for you on the new home side of things.
Data from the Census and the National Association of Realtors (NAR) shows that newly built homes are a bigger pa. ...

  team raj jaggi, buyers, sellers, housing market, newly built homes