Randy & Lisa Charlton

Sellers Are Ready To Enter the Housing Market One of the biggest questions in real estate today is, When will sellers return to the housing market? An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight. The Home Purchase Sentiment Index (HPSI) by Fannie Mae recently noted the p...ercentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, indicates, Consumer positivity regarding home-selling conditions nearly matched its all-time high. Fannie Mae isn’t the only expert group noticing a rise in the percentage of people thinking about selling. George Ratiu, Senior Economist at realtor.com, shares, The results of a realtor.com survey...

Americans See Real Estate as a Better Investment Than Stocks or Gold In an article on the current real estate market, Gallup reports, Gallup usually finds that Americans regard real estate as the best long-term investment among several options -- seeing it as superior to stocks, gold, savings accounts and bonds. This year, 41% choose real estate as the best investment, up from 35% a year ago, with stocks a distant second. The article goes on to say, The 41% choosing real e...state is the highest selecting any of the five investment options in the 11 years Gallup has asked this question. Some question American confidence in real estate as a good long-term investment right now. They fear that the build-up in home values may be mirroring what happened right before the housing crash a little more than a decade ago. However, according to Merrill Lynch, J.P. Morgan, Morgan Stanley, and Goldman Sachs, the current real estate market is strong and...

Don’t Forget to Budget for Closing Costs When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important. According to Trulia, When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insura...nce, origination fees, underwriting fees, document preparation fees, and more. For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing costs could be greater. As mentioned, closing costs are typically between 2% and 5% of your purchase price. Trulia gives more great advice, explaining, There will be lots of paperwork in front of you on...

When It Comes To Selling a House, Your Time Is Money [INFOGRAPHIC] Selling a house is no small task. If you decide to try to do it on your own, keep in mind you’ll be responsible for all the expert-level work of a real estate professional. The vital tasks an agent manages for you include listing and marketing your house, handling legal documentation, negotiating with all parties, and navigating local laws and regulations. If you’re ready to sell while the market is in your favor, DM me to make sure you have the professional expertise you need every step of the way.

Your House Could Be the Oasis in an Inventory Desert Homebuyers are flooding the housing market right now to take advantage of record-low mortgage rates. Many have a sense of urgency to find a home soon, since experts forecast a steady rise in both rates and home prices this year and next. As a result, buyer demand greatly outweighs the current housing supply. Here’s how the shortage of houses for sale sets yours up to be the oasis in an inventory desert. According to the Nat...ional Association of Realtors (NAR), today’s housing inventory sits at an incredibly low 2.1-month supply, far below the 6-month mark for a neutral market. Inventory of single-family homes a year ago was already very low, and this year’s levels are even lower. Due to these market conditions, today’s buyers frequently enter fierce bidding wars while trying to purchase a home. This in turn drives up home prices and gives sellers incredible leverage in the negotiation process, two...

It’s Not Too Late To Apply For Forbearance If your loan is backed by HUD/FHA, USDA, or VA, you can apply for initial?forbearance by June 30, 2021. Here are some of the reasons why those borrowers didn’t opt for forbearance before now: >>They were concerned forbearance may be costly >>They didn’t understand how to request forbearance... >>They didn’t understand how the plans worked and/or whether they would qualify If you have similar questions or concerns, the following answers may ease your fears. The Consumer Financial Protection Bureau (CFPB) explains, For most loans, there will be no additional fees, penalties, or additional interest (beyond scheduled amounts) added to your account, and you do not need to submit additional documentation to qualify. You can simply tell your servicer that you have a pandemic-related financial hardship. This is how the Consumer Financial Protection Bureau (CFPB) explains the program: Forbearance is when your...

Experts Say Home Prices Will Continue to Appreciate It’s clear that consumers are concerned about how quickly home values are rising. Many people fear the speed of appreciation may lead to a crash in prices later this year. Google reports that the search for When is the housing market going to crash? has spiked 2450% over the past month. To alleviate some of these concerns, let’s look at what financial analysts are saying about the current residential real estate market. Wi...thin the last thirty days, four of the major financial services giants came to the same conclusion: the housing market is strong, and price appreciation will continue. Here are their statements on the issue: Goldman Sachs’ Research Note on Housing: Strong demand for housing looks sustainable. As a result, the model projects double-digit price gains both this year and next. Joe Seydl, Senior Markets Economist, J.P.Morgan: Housing prices have spiked during the...

3 Graphs Showing Why You Should Sell Your House Now Here’s a look at what’s driving this sellers’ advantage and why there’s so much opportunity for homeowners who are ready to move this season. >>Historically Low Inventory... Even with a slight rise in the number of houses for sale this spring, inventory remains near an all-time low. High buyer interest is creating animbalance between supply and demand, but as the small uptick in inventory shows, sellers are beginning to reenter the market. Selling your house now enables you to maximize on buyer demand and get the most attention for your house before more listings come to the market later this year. >>Frequent Bidding Wars As a result of the supply and demand imbalance, homebuyers are entering bidding wars at an accelerating rate. NAR reports the average number of bids received on the most recently closed sales is 4.8 offers. As buyers face tough competition while searching for homes to purchase...

The Power of Mortgage Pre-Approval [INFOGRAPHIC] Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and a competitive edge in a bidding war. In today’s market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home. DM me to learn more about this essential step in the homebuying process.

Why Waiting to Buy a Home Could Cost You a Small Fortune Many people are sitting on the fence trying to decide if now’s the time to buy a home. To determine if they should buy now or wait another year, they both need to ask two simple questions: >>Do I think home values will be higher a year from now? >>Do I think mortgage rates will be higher a year from now?... Let’s shed some light on the answers to these questions. If you average the most recent projections from the major industry forecasters, the expectation is home prices will increase by 7.7%. For mortgage rates, the forecasts average out to 3.6% a year from now, a jump up from where they are now. A buyer will pay a lot more in mortgage payments each month if both of these variables increase. Let’s take a house that’s valued today at $325,000 as an example. Assuming a buyer purchases a $325,000 home this year with a 30-year fixed rate loan at 3% after making a 10% down payment, their monthly...

Are Interest Rates Expected to Rise Over the Next Year? So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say. Danielle Hale, Chief Economist, realtor.com: Our long-term view for mortgage rates in 20...21 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . . Lawrence Yun, Chief Economist, National Association of Realtors (NAR): In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable. Freddie Mac: We forecast that mortgage rates will continue to rise...

4 Big Incentives for Homeowners to Sell Now Here are the four major homeowner concerns and a quick explanation of what’s actually happening in the housing market today. >>Homeowners don’t know if they’ll be able to secure their next home before selling.... In today’s market, buyers have compelling reasons to purchase a home now. These buyer needs give the seller tremendous leverage to negotiate time to find their next home. >>Homeowners don’t know if their current home will sell for asking price or top market price. This is the perfect time to maximize profits while selling a house. NAR just released a study showing that bidding wars are at an all-time high. When there’s a bidding war, the price escalates. If a seller is looking for a top-dollar sale, there’s no better time to sell than right now. >>Homeowners don’t know if they will get an offer without their home requiring work or updates. Due to low inventory, many buyers are more willing...

Americans Find the Nonfinancial Benefits of Homeownership Most Valuable Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in Unison’s 2021 report on The State of the American Homeowner are: >>91% - feel secure, stable, or successful owning a home >>70% - feel emotionally attached to the homes that have kept them safe over the past year... >>51% - call homeownership a "key part of their life These sentiments were supported by the most recent National Housing Survey from Fannie Mae. Those surveyed were given a list of feelings and accomplishments that are associated with or impacted by where we live. They were then asked, To achieve this, are you better off owning or better off renting? Here are the top three points from the list that respondents said homeownership could help them achieve: >>91% - control over what you do with your...

6 Simple Graphs Proving This Is Nothing Like Last Time Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another cras...h. However, there are many reasons this real estate market is nothing like 2008. Here are six visuals to show the dramatic differences. 1. Mortgage standards are nothing like they were...

How Upset Should You Be about 3% Mortgage Rates? Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the negative impact it may have on the housing market. However, we should realize two things: 1. The bump-up in rate should not have surprised anyone. Many had already projected that rates would rise slightly a...s we proceeded through the year. 2. Freddie Mac’s comments about the rate increase were not alarming: The rise in mortgage rates over the next couple of months is likely to be...

5 Reasons to Sell Your House This Spring When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready. 1. There’s high demand from homebuyers. Buyer demand is strong right now, and buyers are active in the market. ShowingTime, which tracks the average number of buyer showings on residential properties, recently announced that buyer showings are up 51.5% compared to this time last year. Daniil...

How to Prepare Your House for a Winning Sale This Spring [INFOGRAPHIC] Some Highlights With so few homes available to buy today, houses are in high demand, and they’re selling fast.... That means it’s a great time to sell if you’re ready to make a move. Let’s connect to make sure your house is ready for a top-dollar sale this spring. It may be closer than you think! See more

Is It a Good Time to Sell My House? Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell. Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:... Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices... See more

Why Selling Your House on Your Own in 2021 Is a Mistake There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following items. 1. Your Safety Is a Priority Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your...

More Generations Are Living Under One Roof This Year This year challenged us to reprioritize everything - from the way we use our time to where we work, how we socialize and gather together, and our needs at home. For many, this also meant making decisions about how to best support and engage with our extended families, near and far. In some cases, we weren’t able to see our relatives and loved ones who were living in senior facilities. In others, maybe older children moved b...ack home. Jessica Lautz, Vice President of Demographics and Behavioral Insights for the National Association of Realtors (NAR), says: A lot of families have an aging senior relative... See more

Why It’s Important to Price Your House Right Today Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes: We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the...

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Turning a House into a Happy Home We talk a lot about why it makes financial sense to buy a home, but more often than not, we’re drawn to the emotional reasons for homeownership. No matter the living space, the feeling of a home means different things to different people. Whether it’s a certain scent or a favorite chair, the feel-good connections to our own homes are typically more important to us than the financial ones. Here are some of the reasons why.... 1. Owning your home is an accomplishment worth celebrating You’ve likely worked very hard to achieve this dream, and whether it’s your first home or your fifth, congratulations are in order for... See more