Neil Singerman, L.A. Westside Homes for Sale

Tiny house with a view

They paid $347,500 for the place in 2011.

Are you ready for some backyard summer parties?

If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again. Experts project both home prices and mortgage r...ates will continue to rise, which means this is the best time to secure a more affordable home. DM me if you have questions about the best way to achieve your homebuying goals. #rodeorealty #beverlyhills #buyingahome #affordability #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #locationlocationlocation #newlisting #homeforsale #curbappeal #keepingcurrentmatters

Housing Wealth: The Missing Piece of the Affordability Equation Skyrocketing prices are causing some to start questioning affordability in the current housing market. Many are quick to emphasize the fact that homes today are less affordable than they were last year. Black Knight, a leading provider of data and analytics across the homeownership life cycle, just reported on the issue. Right now, housing payments are slightly less affordable than the five-year average but onl...y by less than a percentage point. However, they’re significantly more affordable than the 25-year average. Put another way, a buyer will likely make a slightly greater financial sacrifice to afford a home right now than if they purchased a home within the last five years. On the other hand, it also means the potential financial sacrifice is not nearly as great as what it was over the last 25 years. Does making a sacrifice to buy a... #expertanswers #purchasingpower #buyingpower

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... #firsttimehomebuyer #closingcosts #opportunity

Demand continues to grow more quickly than supply can keep up.

Don’t Wait To Sell Your House Whatever the move you want to make looks like, here’s an overview of what’s creating the prime opportunity to sell this summer. High Buyer Demand... Demand is strong, and buyers are actively searching for homes to purchase. In the Realtors Confidence Index Survey published monthly by the National Association of Realtors (NAR), buyer traffic is considered very strong in almost every state. Homebuyers aren’t just great in number right now they’re also determined to find their dream home. NAR shows the average home for sale today receives five offers from hopeful buyers. These increasingly frequent bidding wars can drive up the price of your house, which is why high demand from competitive homebuyers is such a win for this summer’s sellers. Low Inventory of Houses for Sale Purchaser demand is so high, the market is running out of available homes for sale... #Sellyourhouse #moveuphome #dreamhome #realestate

What? No elevator?

It’s projected that 7.1 million homes will be sold in the U.S. in 2021, up from 6.5 million last year.

Hope Is on the Horizon for Today’s Housing Shortage While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on t...hose rates are purchasing this limited supply of homes as quickly as they’re coming to market. Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last yearfor buyers, it means that... #realestate #homeownership #homebuying #realestategoals