Celest Secrist

The Joint Center for Housing Studies: conditions today are quite different than in the early 2000s, particularly in terms of credit availability. The current climb in house prices instead reflects strong demand amid tight supply, helped along by record-low interest rates. Nathaniel Karp, Chief U.S. Economist at BBVA: The housing market is in line with fundamentals as interest rates are attractive and incomes are high due to fiscal stimulus, making debt servicing relative...ly affordable and allowing buyers to qualify for larger mortgages. Underwriting standards are still strong, so there is little risk of a bubble developing. Bill McBride of Calculated Risk: It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned, things would get very ugly. Today, I don’t have that sense at all, because all of the fundamentals...

Just like your car, your home needs regular check-ups and maintenance to remain functioning and looking like new! With Summer here, add the following items to your To-Do list this weekend: 1. Oil your garage-door opener, chain, garage door, and all door hinges. 2. Remove lint from inside and outside washer hoses and dryer vents. 3. Clean kitchen exhaust fan filter. 4. Clean refrigerator and freezer coils and empty and clean drip trays.... 5. Check dishwasher for leaks. 6. Check around kitchen + bathroom cabinets and around toilets for leaks. 7. Replace interior and exterior faucet and showerhead washers if needed. 8. Seal tile grout. 9. Prune trees and shrubs. Put on a sweet playlist and you'll be done in no time. It'll save you time and money in the long-run. See more

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 inc...rease 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, shares, Homebuyersinterest rates are still historically low, though they are inching up. Housing prices have spiked during...

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 appraisal comes in below the contract price, the buyer’s lender won’t loan them...

COMING SOON! 9320 Earl St. Unit 2, La Mesa | 2 BR | 2 BA | 1,080 sq ft. Beautifully updated, 2 bed, 2 bath, 1,080 sqft, single-story home in the Grossmont Village community. This dual master condo suite is freshly painted, complete with new vinyl wood flooring and nicely updated. Open floor plan and a fireplace in the living room. Unit features a large back patio with private laundry machines. Optional storage shed to rent + 1 designated, covered, carport space. Plenty of gue...st parking. Manicured grounds, lit pathways, lush laws with bridges, as well as three community pools to choose from! Near 125 + 8 fwys. Listing agent: Martina Mckinney Realtor, Jessica Foote & Associates | 858-461-9612 | [email protected] SHOWINGS begin Thursday, July 1st!

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Some Highlights There are a few key things to make sure you avoid after applying for a mortgage to help make sure you still qualify for your loan at the closing table. Along the way, be sure to discuss any changes in income, assets, or credit with your lender, so you don’t unintentionally jeopardize your application. The best plan is to fully disclose your intentions with your lender before you do anything financial in nature.

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is incredibly strong. That’s not the case, however, on the supply side. Seller traffic is simply not keeping up. Here’s a breakdown by state:As the maps show, buyer traffic is high, but seller traffic is low. With so few homes for sale right now, record-low inventory is...

At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow homeowners to remain in their homes without making their monthly mortgage payments. Today, almost three million households are actively in a forbearance plan. Though 29.4% of those in forbearance have continued to stay current on their payments, many have not. Yanling Mayer, Principal Economist at CoreLogic, recently revealed: A distributional analysis of forborne loans’ payment status reveals that more than one third (39.1%) of all forborne loans are now 150+ days behind payment, while as many as 1-in-4 (25.5%) are 180...

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 further below 3%. According to Freddie Mac, the average 30-year fixed interest rate today is...

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 register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the...