Evergreen & Silicon Valley Homes

Buyer Competition Is Good News for Sellers [INFOGRAPHIC] With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they’re selling in less than three weeks. If you’re ready to make a move, let’s connect today so you can sell your house while the market is in your favor. For more information contact Lutz & Cruz Team today!

Is Homeownership Still Considered Part of the American Dream? Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions,... everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in... For more information contact Lutz & Cruz Team today!

How a Change in Mortgage Rate Impacts Your Homebuying Budget Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potent...ial homebuyers with less purchasing power. (See graph below): When buying a home, it’s important to determine a monthly... For more information contact Lutz & Cruz Team today!

What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is stil...l astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is... For more information contact Lutz & Cruz Team today!

Expert Insights on the Budding Spring Housing Market Experts agree the housing market is set to bloom this spring. Let's connect to make sure you're ready to buy or sell this season. For more information contact Lutz & Cruz Team today!

Buyer & Seller Perks in Today’s Housing Market Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season. The Biggest Perk for Buyers: Low Mortgage Rates Today’s most compelling buyer ...incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher... For more information contact Lutz & Cruz Team today!

No Matter What the Groundhog Says, You Should Sell Before Spring No matter how soon the groundhog says spring will come, don't wait to put your house on the market. Let's connect to talk about why now is a great time to sell. For more information contact Lutz & Cruz Team today!

4 Reasons People Are Buying Homes in 2021 According to many experts, the real estate market is expected to continue growing in 2021, and it’s largely driven by the lasting impact the pandemic is having on our lifestyles. As many of us spend extra time at home, we’re reevaluating what home means and what we may need in one going forward. Here are 4 reasons people are reconsidering where they live and why they’re expecting to buy a home this year. ... 1. Record-Low Mortgage Interest Rates In 2020, the average interest rate for a 30-year fixed mortgage hit a record low 16 times, continuing to fall... For more information contact Lutz & Cruz Team today!

What Record-Low Housing Inventory Means for You The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is curren...tly at an all-time low. The report explains: Total housing inventory at the end of December totaled 1.07 million units, down 16.4... For more information contact Lutz & Cruz Team today!

What Happens When Homeowners Leave Their Forbearance Plans? According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now: 2,543,000 (39%) are current on their payments and have left the program... 625,000 (9%) have paid off their mortgages 434,000 (7%) have negotiated a repayment plan and have left the program 2,254,000 (35%) have extended their original... For more information contact Lutz & Cruz Team today!

What Does 2021 Have in Store for Home Values? According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained: Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to registe...r above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19... For more information contact Lutz & Cruz Team today!

Three Reasons to Buy a Home in 2021 2021 will be a great year to buy a home. Let's connect to make sure you're ready for success in today's housing market. For more information contact Lutz & Cruz Team today!

Is This the Year to Sell My House? If one of the questions you’re asking yourself is, Should I sell my house this year? consumer sentiment about selling today should boost your confidence in the right direction. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why. According to the latest Home Purchase Sentiment Index from Fannie Mae, 57% of consumer respondents to their survey indicate now i...s a good time to buy a home, while 59% feel it’s a good time to sell one: The percentage of respondents who say it is a... For more information contact Lutz & Cruz Team today!

What’s the Difference between an Appraisal and a Home Inspection? If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a... For more information contact Lutz & Cruz Team today!

Why Moving May Be Just the Boost You Need As we look back over the past year, we’ve certainly lived through one of the most stressful periods in recent history. After spending so much more time at home throughout the health crisis, some are wondering if they should move to improve their mental health and well-being. This is no surprise since the U.S. Census Bureau reported an increase in the percentage of adults with symptoms of anxiety and depression in a recent Household Pu...lse Survey. There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their... For more information contact Lutz & Cruz Team today!

The Importance of Home Equity in Building Wealth Homeownership has always been the first rung on the ladder leading to household wealth. As Freddie Mac recently posted: Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and an avenue for building wealth over time. This ‘wealth’ is built, in large part, through the creation of equityBuilding equity through your monthly principal payments and appreciation is a ...critical part of homeownership that can help you create financial stability. Home equity is the difference between the... For more information contact Lutz & Cruz Team today!

3 Reality TV Myths Busted Ready to buy a home this year? Let's connect to separate reality from reality TV and make sure your experience is smooth and successful. For more information contact Lutz & Cruz Team today!

Why Not to Wait Until Spring to Make a Move The housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season. 1. Mortgage Rates Are Historically Low In 2020, mortgage rates hit... all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact, realtor.com... For more information contact Lutz & Cruz Team today!