Realtor Chia Rodeski

What Do Experts See on the Horizon for the Second Half of the Year? As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon? Mortgage Rates Will Likely Increase, but Remain Low... Many experts are projecting a rise in interest rates. However, even as mortgage rates rise, the anticipated increase is expected to be modest at most, and still well below historic averages. Rates remaining low is good news for homebuyers who are looking to maximize their purchasing power. Home Price Appreciation Will Continue, but Price Growth Will Likely Slow Experts remain optimistic about home prices, too. Joe Seydl, Senior Markets Economist at J.P. Morgan... #realestate #homeownership #homebuying #realestategoals

What To Expect as Appraisal Gaps Grow In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: The frequency of buyers being willing to pay more than the market data supports is increasing.... While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm. According to recent data from CoreLogic, 19% of homes had their appraised value come in below the contract price in April of this year. That’s more than double the percentage in each of the two previous Aprils. If an... #expertanswers #stayinformed #staycurrent

Homebuyers: Hang in There [INFOGRAPHIC] Today’s sellers’ market provides unique challengesand benefitsfor buyers. Current low interest rates won’t last forever, and home prices are forecast to rise. If you’re a homebuyer, hang in there. Homeownership improves your quality of life, and the long-term benefits outweigh the short-term challenges. #firsttimehomebuyer #opportunity #housingmarket