Realtor Matthew J Wong

New on the Market

Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] For the eighth year in a row, real estate maintained its position as the preferred long-term investment among Americans. Real estate has been gaining ground against stocks, gold, and savings accounts over the last 11 years and now stands at its highest rating in survey history. DM me if you’re ready to make real estate your best investment this year.

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...

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.

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...

How Remote Work Can Power Your Vacation Home Sale This year, the opportunity to work remotely has increased the demand for vacation homes. Gay Cororaton, Senior Economist and Director of Housing and Commercial Research at the National Association of Realtors (NAR), notes: Working from home is a positive factor in demand for vacation homes. Buyers are taking advantage of the fact that working from home might be someplace other than their primary residence at the beach, in ...the mountains, or somewhere in between. NAR explains: Sales in vacation-home counties increased 48% on average year over year in the third quarter; overall, 81% of vacation-home... See more

The Path to Homeownership [INFOGRAPHIC] Some Highlights If you’re thinking of buying a home and not sure where to start, you’re not alone. Here’s a map with 10 simple steps to follow in the homebuying process.... Let’s connect today to discuss the specific steps along the way in our local area... See more

A New Way to Shop for Homes in a Virtual World In a year when we’re learning to do so much remotely, homebuying is no exception. From going to work to attending school, grocery shopping, and even seeing our doctors online, digital practices have changed the way we live. This year, rather than delaying their home purchases, buyers...

With Home Values Surging, Is it Still Affordable to Buy Right Now? Housing inventory is at an all-time low. Realtor.com just reported that there are 39% fewer homes for sale today than there were last year. At the same time, buyer demand remains strong. In a recent newsletter, research analyst Ivy Zelman explained: Although the headwind of severe supply...

Knowledge Is Power on the Path to Homeownership Homeownership is on the goal list for many young adults, but sometimes it’s hard to know exactly how to get there. From understanding the homebuying process to pre-approval and down payment assistance options, uncertainty along the way can ultimately hold some buyers back. Today, there are...