EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. After fewer than 18 months since its launch, EXIT Realty Corp. International’s EXIT Ad Center was recently named Best in Class by Facebook. More than […] The post EXIT Ad Center Named Best in Class by Facebook appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: “Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power.” (See graph below): When buying a home, it’s important to determine a monthly budget so you can plan for and understand what you can afford. However, when you need to stick to your budget, even a small increase in the mortgage rate can make a big difference. According to the National Association of Realtors (NAR), today, the median existing-home price is $313,000. Using $300,000 as a simple number close to the median price, here’s an example of how a change in mortgage rate impacts your monthly principal and interest payments on a home.If, for example, you’re getting ready to buy a home and know your budget allows for a monthly payment of $1200-1250 (marked in gray on the table above), every time the mortgage rate increases, the loan amount has to decrease to keep your monthly cost in range. This means you may have to look for lower-priced homes as mortgage rates go up if you want to be able to maintain your budget. In essence, it’s ideal to close on a home loan when mortgage rates are low, so you can afford to borrow more money. This gives you more purchasing power when you buy a home. Mark Fleming, Chief Economist at First American, explains: “Monthly payments have remained manageable despite soaring home prices because of low mortgage rates. In fact, monthly payments remain below the $1,250 to $1,260 range that we saw in both fall 2018 and spring 2019, but they are on track to hit that level this spring. Although they remain low, mortgage rates have begun to increase and are expected to rise further later in the year, thus affordability will test buyer demand in the months ahead and likely help slow the pace of price growth.” Today’s mortgage rates are still very low, but experts project they’ll continue to rise modestly this year. As a result, every moment counts for homebuyers who want to secure the lowest mortgage rate they can in order to be able to afford the home of their dreams. Bottom Line Thanks to low mortgage rates, the spring housing market’s in bloom for buyers – but these favorable conditions may not last for long. Contact your local real estate professional today to start the homebuying process while your purchasing power is still holding strong. The post How a Change in Mortgage Rate Impacts Your Homebuying Budget appeared first on Keeping Current Matters.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. Cindi Infiesto, Broker/Owner of EXIT Select Realty in Fort Myers, FL, raised money for the PJ’s and Paws fundraiser held by Cape Coral Animal Shelter. […] The post Cindi Infiesto Participates in a “Puppy Pajama Party” to Help Local Animal Shelter appeared first on Real Estate Industry Leaders.

Check out this blog by 719Lending Redfin Reports a Record 39% of Homes Sold Above List Price By Redfin – TownNews.com Content Exchange     SEATTLE, March 26, 2021 /PRNewswire/ — (NASDAQ: RDFN) —The median home-sale price increased 16% year over year to $331,590—an all-time high—according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. However, year-over-year comparisons may more reflect the fact that this time last year, stay-at-home-orders halted both home-buying and selling activity. They don’t necessarily reflect how the housing market has changed over the past year.   Below are other key housing market takeaways for more than 400 U.S. metro areas during the 4-week period ending March 21. Asking prices of newly listed homes were flat from the previous 4-week period at $349,973, and up 11% from the same time a year ago. Pending home sales were up 28% year over year. New listings of homes for sale were down 12% from a year earlier. Active listings (the number of homes listed for sale at any point during the period) fell 42% from 2020 to a new all-time low. This is the largest decrease on record in this data, which goes back through 2016. 58% of homes that went under contract had an accepted offer within the first two weeks on the market This is a new all-time high for this measure since at least 2012 (as far back as Redfin’s data for this measure goes) and well above the 46% rate during the same period a year ago. During the 7-day period ending March 21, 61% of homes sold in two weeks or less. 45% of homes that went under contract had an accepted offer within one week of hitting the market, an all-time high and up from 33% during the same period a year earlier. During the 7-day period ending March 21, 48% sold in one week or less. 39% of homes sold above their list price, an all-time high and 15 percentage points higher than the same period a year earlier. The average sale-to-list price ratio, which measures how close homes are selling to their asking prices, increased to 100.2%, an all-time high and 1.9 percentage points higher than a year earlier. For the 7-day period ending March 21, the seasonally adjusted Redfin Homebuyer Demand Index—a measure of requests for home tours and other services from Redfin agents—was up 149% from the same period a year ago, when housing demand was near the lowest point it would hit during the pandemic. Mortgage purchase applications increased 3% week over week (seasonally adjusted) and were up 26% from a year earlier (unadjusted) during the week ending March 19. For the week ending March 25, 30-year mortgage rates increased to 3.17%, the highest level since June. “It’s concerning how much home prices have risen during the pandemic,”said Redfin Chief Economist Daryl Fairweather. “When the pandemic is over, purchasing a home is going to cost much more than ever before, putting homeownership much further out of reach for many Americans. That means a future in which most Americans will not have the opportunity to build wealth through home equity, which will worsen inequality in our society. The Biden administration is putting together an infrastructure bill right now that includes building 1.5 million sustainable homes, but there is no guarantee the bill will be passed with every policy proposal intact. America needs an audacious goal to increase the housing supply, given the U.S. is short 2.5 million homes. It may be expensive to build millions of homes, but ignoring the problem would only cause housing to become more unaffordable and worsen housing insecurity.” To view the full report, including charts and methodology, please visit: https://www.redfin.com/news/housing-market-update-39-pct-homes-sold-above-list-price/ Refer to Redfin’s metrics definition page for explanations of all the metrics used in the report.   For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the Redfin Data Center. To be added to Redfin’s press release distribution list, email press@redfin.com. To view Redfin’s press center, click here. View original content to download multimedia:http://www.prnewswire.com/news-releases/redfin-reports-a-record-39-of-homes-sold-above-list-price-301256577.html SOURCE Redfin  This article originally ran on curated.tncontentexchange.com. The post Redfin Reports a Record 39% of Homes Sold Above List Price – what about Colorado Springs? appeared first on 719 Lending.

Check out this blog by 719Lending Is Colorado Springs a Sellers Market?  What does that mean to you? If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal or ‘neutral’ market in which there are enough homes available for active buyers (See graph below): When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers. As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers. Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house. Bottom Line Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it. The post Is Colorado Springs a Sellers Market? appeared first on 719 Lending.

Check out this blog by 719Lending Rates are largely driven by market reports – this weeks economic reports are below –  3/29/2021 – 4/2/2021 The post Rates are largely driven by market reports… appeared first on 719 Lending.

When packing clothes for a big move it can be easy to create more space. When done properly, this will save space and cut down on the number of boxes or other containers you’ll need to pack and move. You’ll also have a much easier time unpacking at your new home.   Folding is an efficient way to pack. When folding, make sure you have a flat surface such as a bed, table or floor to work on. For example, here’s how to fold a pair of pants. Starting at the waist, smooth out a pair of pants with your hands.  Fold the pants in half with the legs touching. Smooth the pants again.  Fold the top of the pants one-third down from the top. Smooth the fabric before, during and after each fold to mitigate wrinkles.  Repeat smoothing the pants and folding them until you have a flat square.  Rolling is probably the best way to pack clothes to save space. Rolling a garment compresses it into its smallest size and is a good option if you’re not concerned about wrinkles. Here’s how to roll a t-shirt. Smooth the garment first. Fold the garment in half, neck to the bottom.  Fold each sleeve inward. Next, gently roll the shirt to the bottom, leaving just enough space to fold the open end of the shirt over the roll.

Check out this blog by 719Lending MBS Road Signs 3-29-21 Low temperatures and low inventory were a double whammy for housing in February, as sales of existing homes fell 6.6% while new home sales plunged 18.2% from January. However, sales of both new and existing homes were higher compared to February of last year. While bad weather certainly put a freeze on sales, the lack of supply was an even greater challenge, especially among existing homes with inventory almost 30% lower than February of last year. Inflation was tame in February per the Fed’s favored measure, Personal Consumption Expenditures. However, inflation is expected to rise this spring – and that could impact both Mortgage Bonds and the home loan rates tied to them. Don’t miss the explanation about this below. And of immediate note, a large cargo ship is blocking the Suez Canal, which is impeding global trade and could cause some spikes in inflation. The post Double whammy for housing in February… appeared first on 719 Lending.

Check out this blog by 719Lending 60,000 buyers – 519 houses – rising lumber prices – potential foreclosures on the horizon What does this mean to you?  

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. Denise Cortez, sales representative with EXIT Realty Twin Bridges, Brokerage, in Sarnia, ON, wanted to pay it forward by donating to Life’s Seasons Care and […] The post Denise Cortez Reaches Out to the Spirit of EXIT to Further Her Mission of Paying it Forward appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. As a result, competition among purchasers rises and more bidding wars take place, making it essential for buyers to submit very attractive offers. As this happens, home prices rise and sellers are in the best position to negotiate deals that meet their ideal terms. If you put your house on the market while so few homes are available to buy, it will likely get a lot of attention from hopeful buyers. Today, there are many buyers who are ready, willing, and able to purchase a home. Low mortgage rates and a year filled with unique changes have prompted buyers to think differently about where they live – and they’re taking action. The supply of homes for sale is not keeping up with this high demand, making now the optimal time to sell your house. Bottom Line Home prices are appreciating in today’s sellers’ market. Making your home available over the coming weeks will give you the most exposure to buyers who will actively compete against each other to purchase it. The post What It Means To Be in a Sellers’ Market appeared first on Keeping Current Matters.

Why is it that no matter how great things are, we can still get sidetracked by negativity? There’s not a single one of us who can claim we’re happy 100% of the time, so honestly, why is it easier for us to believe the self-doubts, to get caught up in the gossiping, or to hang onto past hurts? The media and Hollywood don’t help, showing us that slander spreads farther and faster than feel good stories any day of the week, so do we all have some penchant for the shadowy side of life, or is there something else at work here?Personally I’m not a big fan of labels, but psychologists call this phenomenon the negativity bias, and well, it traces back to our most primal instincts. When you think about it, keeping an eye out for the bad kept you alive evolutionarily speaking, but studies over the last few years are just starting to show how these responses change our very DNA and then subsequently pass through the generations. Research also shows that bad events elicit greater neurological activity responses in our brains as opposed to their good-vibing counterparts.The body’s most powerful computer controls decision-making, reasoning, and judgement, so once biased, we start to see people differently, expect poorer outcomes, and eventually because we assume the worst, we can talk ourselves out of even taking the risk. A 2011 report in the National Library of Medicine linked negative biases with depression. Add a global pandemic and it’s no wonder The World Health Organization reports that, “globally, more than 264 million people of all ages suffer from depression [which] at its worst can lead to suicide.” Over the past year help lines have been ringing off the hook across North America, and the Boston University School of Public Health ran a first-ever study that found “27.8% of U.S. adults had depression symptoms as of mid-April [2020], compared to 8.5% before the COVID-19 pandemic.”Larry Gardner, a charismatic EXIT associate who’s known for his strong attitude of gratitude admits that even he’s had a hard time feeling the “love” over the last year. As a professional in such a public-facing business he’s urging folks in the real estate community to open up the dialogue on mental health.“In this social media reality and world of constant need to portray confidence no matter what’s truly going on, is it okay to keep it real and let people know that things are a little funky?” he questioned, “Having the best year of my career in full transparency, I’ve been depressed…since September. On a conscious level I’ve felt melancholy, and just haven’t been motivated. I’m starved for so many things I realize now that I took for granted.”So how does someone like Larry, who’s no stranger to mental illness and a recovering alcoholic for 36 years, keep making the positive come backs? By doing what he just did…talking about it. Realizing and being aware of this change in your feelings and behavior is the first step in changing thinking.“Keep showing up for yourself no matter what,” Larry implores. “There’s a real need for us all not to be afraid to reach out, because we are all worth it, we are all loved, and we are all amazing!”Small moves like focusing on what you can learn from those past mistakes that may still haunt you instead of the mistakes themselves or re-framing your thought in the moment when you catch yourself in negative self-talk are great ways to turn the tables. So is the power of affirmations and the use of apps like Prompter! Lucky for us negativity has a kryptonite, and we just so happen to come by it naturally. Make feel-good, endorphin-producing activities like exercising, laughing at good comedy shows and movies, or having an uplifting playlist at your fingertips part of your plan to help shake off the blues.Steps can also be taken at the brokerage level, for those who own an office looking to lead by example. According to Realtor.org’s Dealing with Mental Illness in the Workplace article, offering mental health coverage to your staff and educating them on those offerings, in addition to aligning with and supporting local mental health organizations are excellent ways to teach staff and help continue to reduce the stigma surrounding depression and other mental illnesses. As an option, see if some programming can be extended to clients because, as many know, not all real estate transactions are a dream come true.When the time is right, and you’re ready to set some SMART goals and put some good intentions in motion, Larry challenges you to join him in a practice he’s been doing for years, writing a letter to yourself. Each year, he writes a congratulatory letter to himself for all the things he accomplished in his life that year, and the content runs the gamut of personal and professional goals. Using the buddy system, he invites you to mail your letter to him (along with a self-addressed and stamped envelope) so when the year mark rolls around, he can mail it back to you and you can witness the power of manifesting and cultivating your very own positivity. Send your letters to:EXIT Realty All Pro, c/o Larry Love, 269 West Main Street, Bayshore, NY 11706Keeping it real means acknowledging the good AND the bad, not joy-washing everything until something or someone (namely you) falls apart. It’s okay to not be okay, just as long as you always know and remember you’re never alone.By Melanie Robitaille, Sr. Staff Writer and Graphic DesignerThe post Keeping It Real appeared first on Focus on Good Health.

Check out this blog by Keeping Matters Current. Some Highlights There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape. Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. With these busted myths in hand, be sure to also work with a trusted real estate advisor so you can decipher local facts from fiction along the way. The post 2021 Real Estate Myth Buster [INFOGRAPHIC] appeared first on Keeping Current Matters.

Check out this blog by Keeping Matters Current. Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season. The Biggest Perk for Buyers: Low Mortgage Rates  Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (See graph below):This is a huge advantage for buyers and helps to make owning a home attainable for more households – and there’s good reason to strive for homeownership. The latest Homeowner Equity Report from CoreLogic shows how homeowners saw major gains in their net worth last year, all thanks to owning a home. Frank Martell, President and CEO of CoreLogic, explains: “Positive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership. This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.” Low mortgage rates are a plus for buyers right now, but experts forecast we’ll see them continue to rise as the year goes on. If you’re ready to purchase a home, it’s wise to get started on the process soon so you can secure today’s comparatively low rate. The Biggest Perk for Sellers: Low Inventory Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. According to Danielle Hale, Chief Economist at realtor.com: “Total active inventory continues to decline, dropping 50 percent. With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly and the total number actively available for sale at any point in time continues to decline.” (See map below): The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest Realtors Confidence Index Survey by the National Association of Realtors (NAR), the average house is now receiving 4.1 offers and is on the market for only 20 days. Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process. Homeowners who are in a position to sell shouldn’t wait to make their move. There’s a light at the end of the tunnel for today’s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater profit on their houses and sell them quickly in the fast-paced spring market. Bottom Line Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Contact a trusted real estate professional today to discuss how these favorable conditions play to your advantage in your local area. The post Buyer & Seller Perks in Today’s Housing Market appeared first on Keeping Current Matters.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. by Maegan Carrasquillo, Staff Writer Kel Williams, Franchisee of EXIT Realty Elite in Nashville, TN, joined EXIT as a “favor” to Kenny Lynn and Stacy […] The post A Tight Grip on the Wheel appeared first on Real Estate Industry Leaders.

Use Advisors Look for a financial advisor that will consider all aspects of your wealth creation, including your investments, career, business, home, family, will, etc. Your investments are not mutually exclusive to the other facets of your life. Compensate your advisor wisely. An hour of consultation may look expensive, but consider over your lifetime that an insight from the meeting may create thousands of dollars of wealth. If your advisor is handling some of your investments, then be sure to fully understand how they are compensated and what your exit options are. Your advisor can recommend an accountant (or sometimes cover both). As appealing as it is to do your own taxes, you may not be in a position to recognize some of the tax efficiencies available to you. Like a doctor, you want an advisor and accountant that take an holistic approach to your wealth creation.

Check out this blog by Keeping Matters Current. For generations, the homebuying process never really changed. The seller would try to estimate the market value of the home and tack on a little extra to give themselves some negotiating room. That figure would become the listing price of the house. Buyers would then try to determine how much less than the full price they could offer and still get the home. The asking price was generally the ceiling of the negotiation. The actual sales price would almost always be somewhat lower than the list price. It was unthinkable to pay more than what the seller was asking. Today is different. The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more. According to the Home Buyers and Sellers Generational Trends report just released by the National Association of Realtors (NAR), 45% of buyers paid full price or more. You may need to change the way you look at the asking price of a home. In this market, you likely can’t shop for a home with the old-school mentality of refusing to pay full price or more for a house. Because of the shortage of inventory of houses for sale, many homes are actually being offered in an auction-like atmosphere in which the highest bidder wins the home. In an actual auction, the seller of an item agrees to take the highest bid, and many sellers set a reserve price on the item they’re selling. A reserve price is the minimum amount a seller will accept as the winning bid. When navigating a competitive housing market, think of the list price of the house as the reserve price at an auction. It’s the minimum the seller will accept in many cases. Today, the asking price is often becoming the floor of the negotiation rather than the ceiling. Therefore, if you really love a home, know that it may ultimately sell for more than the sellers are asking. So, as you’re navigating the homebuying process, make sure you know your budget, know what you can afford, and work with a trusted advisor who can help you make all the right moves as you buy a home. Bottom Line Someone who’s more familiar with the housing market of the past than that of today may think offering more for a home than the listing price is foolish. However, frequent and competitive bidding wars are creating an auction-like atmosphere in many real estate transactions. For the best advice on how to make a competitive offer on a home, reach out to a local real estate professional who’s an expert in your local market. The post Why You Should Think About Listing Prices Like an Auction’s Reserve Price appeared first on Keeping Current Matters.

Always be ready to show! Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You must be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling. Make sure there are no dust bunnies in the corners of the floors or the corners of shelves. It’s a little inconvenient, but it will get your house sold. Entryways are also important. Use it as a utility space for your coat, shoes and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies. This helps the buyer feel like your home is warm and welcoming.

Check out this blog by Keeping Matters Current. Freddie Mac recently released their Quarterly Refinance Statistics report which covers refinances through 2020. The report explains that the dollar amount of cash-out refinances was greater in 2020 than in recent years. A cash-out refinance, as defined by Investopia, is: “a mortgage refinancing option in which an old mortgage is replaced for a new one with a larger amount than owed on the previously existing loan, helping borrowers use their home mortgage to get some cash.” The Freddie Mac report led to articles like the one published by The Real Deal titled, House or ATM? Cash-Out Refinances Spiked in 2020, which reports: “Americans treated their homes like ATMs last year, withdrawing $152.7 billion amid a cash-out refinancing spree not seen since before the 2008 financial crisis.” Whenever you combine the terms “spiked,” “homes like ATMs,” and “financial crisis,” it conjures up memories of the housing crash we experienced in 2008. However, that comparison is invalid for three reasons: 1. Americans are sitting on much more home equity today. Mortgage data giant Black Knight just issued information on the amount of tappable equity U.S. homeowners with a mortgage have. Tappable equity is the amount of equity available for homeowners to use and still have 20% equity in their home. Here’s a graph showing the findings from their report:In 2006, directly before the crash, tappable home equity in the U.S. topped out at $4.6 trillion. Today, that number is $7.3 trillion. As Black Knight explains: “At year’s end, some 46 million homeowners held a total $7.3 trillion in tappable equity, the largest amount ever recorded…That’s an increase of more than $1.1 trillion (+18%) since the end of 2019, the largest percentage gain since 2013 and – you guessed it – the largest dollar value gain in history, to boot. All in all, it works out to roughly $158,000 on average per homeowner with tappable equity, up nearly $19,000 from the end of 2019.” 2. Homeowners cashed-out a much smaller amount this time. In 2006, Americans cashed-out a total of $321 billion. In 2020, that number was less than half, totaling $153 billion. The $321 billion made up 7% of the total tappable equity in the country in 2006. On the other hand, the $153 billion made up only 2% of the total tappable equity last year. 3. Fewer homeowners tapped their equity in 2020 than in 2006. Freddie Mac reports that 89% of refinances in 2006 were cash-out refinances. Last year, that number was less than half at 33%. As a percentage of those who refinanced, many more Americans lowered their equity position fifteen years ago as compared to last year. Bottom Line It’s true that many Americans liquidated a portion of the equity in their homes last year for various reasons. However, less than half of them tapped their equity compared to 2006, and they cashed-out less than one-third of that available equity. Today’s cash-out refinance situation bears no resemblance to the situation that preceded the housing crash. The post Should We Fear the Surge in Cash-Out Refinances? appeared first on Keeping Current Matters.

EXIT Realty Corp. International is on the cutting edge of all things real estate. Please enjoy these blogs available exclusively from EXIT Realty Corp. International. Denise Wortman, Broker/Owner of EXIT New Options Real Estate in Leominster, MA and her team, donated a portion of their commissions to support Habitat for […] The post EXIT New Options Real Estate and the Spirit of EXIT Contribute Funds to Finish Home Builds in Central Massachusetts appeared first on Real Estate Industry Leaders.