Check out this blog by Keeping Matters Current. The post Thank You for Your Support appeared first on Keeping Current Matters.

Check out this blog by Keeping Matters Current. Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match. Here are seven great reasons not to wait to sell your house this holiday season: 1. Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan. 2. Purchasers who look for homes during the holidays are serious ones, and they’re ready to buy. 3. You can restrict the showings in your house to days and times that are most convenient for you, or even select virtual options. You’ll remain in control, especially in today’s sellers’ market. 4. Homes decorated for the holidays appeal to many buyers. 5. Today, there’s minimal competition for you as a seller. There just aren’t enough houses on the market to satisfy buyer demand, meaning sellers are in the driver’s seat. Over the past year, inventory has declined to record lows, making it the opportune time to sell your house (See graph below): 6. The desire to own a home doesn’t stop during the holidays. Buyers who have been searching throughout the fall and have been running into more and more bidding wars are still on the lookout. Your home may be the answer. 7. This season is the sweet spot for sellers, and the number of listings will increase after the holidays. In many parts of the country, more new construction will also be available for sale in 2021, which will lessen the demand for your house next year. Bottom Line  More than ever, this may be the year it makes the most sense to list your house during the holiday season. Reach out to a local real estate professional to determine if selling now is your best move. The post Your House May Be High on the Buyer Wish List This Holiday Season appeared first on Keeping Current Matters.

Check out this blog by Keeping Matters Current. There’s no doubt 2020 has been a challenging year. A global pandemic coupled with an economic recession has caused heartache for many. However, it has also prompted more Americans to reconsider the meaning of “home.” This quest for a place better equipped to fulfill our needs, along with record-low mortgage rates, has skyrocketed the demand for home purchases. This increase in demand, on top of the severe shortage of homes for sale, has also caused more bidding wars and thus has home prices appreciating rather dramatically. Some, therefore, have become cautious about buying a home right now. The truth of the matter is, even though homes have appreciated by a whopping 6.7% over the last twelve months, the cost to buy a home has actually dropped. This is largely due to mortgage rates falling by a full percentage point. Let’s take a look at the monthly mortgage payment on a $300,000 house one year ago, and then compare it with that same home today, after it has appreciated by 6.7% to $320,100:Compared to this time last year, you’ll actually save $87 dollars a month by purchasing that home today, which equates to over one thousand dollars a year. But isn’t the economy still in a recession? Yes, it is. That, however, may make it the perfect time to buy your first home or move up to a larger one. Tom Gil, a Harvard trained negotiator and real estate investor, recently explained: “When volatile assets are facing recessions, hard assets, such as gold and real estate, thrive. Historically speaking, residential real estate has done better compared to other markets during and after recessions.” That thought is substantiated by the fact that homeowners have 40 times the net worth of renters. Odeta Kushi, Deputy Chief Economist for First American Financial Corporation, recently said: “Despite the risk of volatility in the housing market, numerous studies have demonstrated that homeownership leads to greater wealth accumulation when compared with renting. Renters don’t capture the wealth generated by house price appreciation, nor do they benefit from the equity gains generated by monthly mortgage payments, which become a form of forced savings for homeowners.” Bottom Line With home prices still increasing and mortgage rates perhaps poised to begin rising as well, buying your first home, or moving up to a home that better fits your current needs, likely makes a ton of sense. The post Is Buying a Home Today a Good Financial Move? appeared first on Keeping Current Matters.

Check out this blog by 719Lending There are a lot of professional designations in real estate. Two of the most common include real estate agent and real estate broker. What is the difference between these two important titles? The main difference between an agent and a broker is their experience and required education. Both licenses are state-specific and each state has its own requirements for pre-licensing education, years of experience, and exams. Typically, new real estate professionals begin as real estate agents. After taking a few real estate courses, they are required to pass an exam and complete an application to become licensed. A licensed agent can work on behalf of a buyer or seller during the home buying or selling process. A new agent will often work with an experienced agent or under a broker to learn the business. After a few years of experience, some real estate agents choose to get their broker’s license. This requires additional classes and a more extensive licensing exam. A broker is able to work independently, even adding real estate agents to their team to work on their behalf. Some brokers work for a well-known company, such as RE/MAX, while others open an independent brokerage. Brokers often specialize in a region or type of real estate, such as commercial buildings or luxury properties. Whether you work with a real estate agent or broker, the most important thing is that you trust your agent is working on your behalf. This means everything from doing a good market analysis to keeping lines of communication open. Recommendations from trusted neighbors and friends is one of the best ways to find an agent or broker who is a good fit for you and your needs. The post What’s the Difference between a Real Estate Agent and a Broker? appeared first on 719 Lending.

Check out this blog by Keeping Matters Current. This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why.  According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB): “The length of time spent searching for a home continues to grow.” The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again. Compared to this time last year, the NAHB report shows that buyers are having more success finding homes in their price range. However, it also notes the percentage of buyers saying they’re getting outbid when they make an offer has jumped from 15% to 27%. Buyers are indicating that bidding wars are a major obstacle to finding their dream home (See graph below):If this is a challenge you’re up against in your home search, you’re not alone. Feeling stuck in the process can be frustrating, but if there’s ever been a year to power through, this is the one. NAHB noted: “Difficulties finding a home to buy will likely lead 20% of active buyers to give up until next year or later. That share is up from 15% a year earlier.” Experts anticipate home prices will continue to rise into 2021, and the incredibly low interest rates we’ve seen this year are also forecasted to increase as the economy strengthens. Hopeful homebuyers who decide to hold off on their search until there’s less competition run the risk of finding a more expensive housing market when they start looking again. If affordability is a key motivator behind your decision to buy a home, this winter is still the best time to make it happen. Bottom Line Bidding wars may be one of the greatest challenges buyers face in today’s housing market, but they shouldn’t be a deal-breaker. Having the right expert on your side throughout the buying process will give you the advantage you need when it comes to finding the right home and making a competitive offer. If you’re ready to buy this winter, contact a local real estate professional to discuss how to position yourself for success. The post Don’t Let Buyer Competition Keep You from Purchasing a Home 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. EXIT Realty’s business model isn’t the icing on the cake, it IS the cake, and those individuals who take full advantage of this unique opportunity […] The post Top Recruiter and Top Sponsor for 2020 Recognized by EXIT Realty Corp. International appeared first on Real Estate Industry Leaders.

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. Maggie Tessier, Broker/Owner of EXIT Realty Matrix, Brokerage, was recognized for Top Sales Volume in North America by EXIT Realty Corp. International during an awards […] The post Maggie Tessier Achieves Top Sales Volume in North America for EXIT Realty in 2020 appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. Some Highlights Today, it’s more important than ever to have an expert you trust to guide you as you sell your house. From your safety throughout the process to the complexity of negotiating the deal, you need a professional on your side. Before you decide to take on the challenge of selling your house on your own, reach out to a local real estate professional to discuss your options. The post It Pays to Sell with a Real Estate Agent [INFOGRAPHIC] 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. It seems as though every company these days boasts about its outstanding culture, but the proof is found in its people, not its hyperbole.  EXIT […] The post 2020 Esprit de Corps Winners Honored by EXIT Realty Corp. International appeared first on Real Estate Industry Leaders.

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. Lisa Lewis, Administrator of EXIT Realty Keystone with offices in Morgan Hill, San Jose and Santa Clara, California, was named Administrator of the Year by […] The post EXIT Realty Keystone’s Lisa Lewis Named 2020 Administrator of the Year appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):When you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower? The Challenge with Waiting The challenge with waiting is that you can easily miss this optimal window of time and then end up paying more in the long run. Last week, mortgage rates ticked up slightly. Sam Khater, Chief Economist at Freddie Mac, explains: “Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine. Despite this rise, mortgage rates remain about a percentage point below a year ago.” While rates are still lower today than they were one year ago, as the economy continues to get stronger and the pandemic is resolved, there’s a very good chance interest rates will rise again. Several top institutions in the real estate industry are projecting an increase in mortgage rates over the next four quarters (See chart below): If you’re planning to wait until next year or later, Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), forecasts mortgage rates will begin to steadily rise:As a buyer, you need to decide if waiting makes financial sense for you. Bottom Line If you’re planning to buy a home and want to take advantage of today’s low rates, now is the time to do so. Don’t assume they’re going to stay this low forever. The post Will Mortgage Rates Remain Low Next Year? 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. EXIT Realty Corp. International is pleased to announce that Point2 has become its newest Premier Partner. Point2 is a highly trafficked real estate internet listing […] The post Point2 Becomes EXIT Realty’s Newest Premier Partner appeared first on Real Estate Industry Leaders.

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. Dayna Langlois, Sales Representative with EXIT Realty Twin Bridges, Brokerage in Sarnia, Ontario was already involved with Big Brothers Big Sisters of Sarnia-Lambton but wanted […] The post Dayna Langlois Calls on the Spirit of EXIT to Further Her Giving to Big Brother Big Sister Sarnia-Lambton appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced after the housing crash a little over a decade ago. However, there’s one major difference this time: a robust forbearance program. During the housing crash of 2006-2008, many felt homeowners should be forced to pay their mortgages despite the economic hardships they were experiencing. There was no empathy for the challenges those households were facing. In a 2009 Wall Street Journal article titled Is Walking Away From Your Mortgage Immoral?, John Courson, Chief Executive of the Mortgage Bankers Association, was asked to comment on those not paying their mortgage. He famously said: “What about the message they will send to their family and their kids?” Courson suggested that people unable to pay their mortgage were bad parents. What resulted from that lack of empathy? Foreclosures mounted. This time is different. There was an immediate understanding that homeowners were faced with a challenge not of their own making. The government quickly jumped in with a mortgage forbearance program that relieved the financial burden placed on many households. The program allowed many borrowers to suspend their monthly mortgage payments until their economic condition improved. It was the right thing to do. What happens when forbearance programs expire? Some analysts are concerned many homeowners will not be able to make up the back payments once their forbearance plans expire. They’re concerned the situation will lead to an onslaught of foreclosures. The banks and the government learned from the challenges the country experienced during the housing crash. They don’t want a surge of foreclosures again. For that reason, they’ve put in place alternative ways homeowners can pay back the money owed over an extended period of time. Another major difference is that, unlike 2006-2008, today’s homeowners are sitting on a record amount of equity. That equity will enable them to sell their houses and walk away with cash instead of going through foreclosure. Bottom Line The differences mentioned above will be the reason we’ll avert a surge of foreclosures. As Ivy Zelman, a highly respected thought leader for housing and CEO of Zelman & Associates, said: “The likelihood of us having a foreclosure crisis again is about zero percent.” The post Chances of Another Foreclosure Crisis? “About Zero Percent.” 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. For the second consecutive year, Gregory Vurganov was recognized as the Top Unit Producer in North America by EXIT Realty Corp. International during an annual […] The post Gregory Vurganov Named EXIT Realty’s Top Unit Producer in North America for the Second Consecutive Year appeared first on Real Estate Industry Leaders.

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. During a special awards presentation broadcast recently throughout the US and Canada, the following individuals were honored for their special achievements in 2020. Superior Growth […] The post EXIT Realty Corp. International Honors Special Achievement During 2020 Awards Presentation appeared first on Real Estate Industry Leaders.

Check out this blog by Keeping Matters Current. Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just explained: “While winter may be typically a slow season in real estate, economists predict it isn’t likely to happen this year…Low inventories combined with high demand due to record-low mortgage rates is sending buyers to the market in a flurry.” However, one challenge for the housing industry heading into this winter is the dwindling number of homes available for sale. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), recently said: “There is no shortage of hopeful, potential buyers, but inventory is historically low.” In addition, Danielle Hale, Chief Economist for realtor.com, notes: “Fewer new sellers coming to market while a greater than usual number of buyers continue to search for a home causes inventory to continue to evaporate.” One major indicator the industry uses to measure housing supply is the months’ supply of inventory. According to NAR: “Months’ supply refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.” Historically, six months of supply is considered a normal real estate market. Going into the pandemic, inventory was already well below this mark. As the year progressed, the supply has was reduced even further. Here is a graph showing this measurement over the last year: What does this mean if you’re a buyer? Be patient during your home search. It may take time to find a home you love. Once you do, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and understand how the shortage in inventory has led to more bidding wars. Calculate just how far you’re willing to go to secure a home if you truly love it. What does this mean if you’re a seller? Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to ask for more from a potential purchaser at a time like this – especially if you have multiple interested buyers. Do not be unreasonable, but understand you probably have the upper hand. Bottom Line The housing market will remain strong throughout the winter and heading into the spring. Know what that means for you, whether you’re buying, selling, or doing both. The post Homes for Sale Are Rapidly Disappearing appeared first on Keeping Current Matters.

Check out this blog by 719Lending If you are considering renting your home out, you have probably thought about the pros and cons of working with a property manager. While this added expense can cut into the potential profits that you can enjoy from being a landlord, it can also cut down on headaches and stress. Here is an overview of what you can expect a property manager to take care of and what you can plan to handle yourself. What a property manager will do: Find new tenants. Some property managers charge for this service, as it involves advertising, showing the unit to potential tenants, and conducting background checks. Conduct move-in walkthroughs, periodic inspections, and move-out inspections. You can ask your property manager for a list of items that they noticed, as well as the value of the repairs. Collect monthly rent, including late rent. Many property managers will also complete all legal requirements if you need to evict a tenant, including court documents and notices to the tenant. You should discuss this with your property manager so that you know what they will do and what they need you to do. Notify you of needed repairs and maintenance. Most property managers will also coordinate with service providers to fix these items, although the homeowner is still responsible for paying those bills. What a property manager will not do: Pay for upgrades, repairs, or maintenance for the property. This is your responsibility as the landlord. Pay the mortgage, taxes, or insurance on the property. As the homeowner, you are still responsible for these items. Property management fees vary, but typically range from 8%-12% of the monthly rent, with 10% being a reasonable standard to expect. If you are paying less than 8%, make sure that you understand what work the property manager will be doing. It is always helpful to ask for referrals from other clients to get an idea of how each property manager works and responds to both tenants and owners. The post What Will My Property Manager Do for Me? appeared first on 719 Lending.

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. Marcella Poitras, Broker/Owner of EXIT Realty Elite in Grand Falls, was recognized as the Top Lister in North America by EXIT Realty Corp. International during […] The post Marcella Poitras Named Top Lister in North America in 2020 for EXIT Realty appeared first on Real Estate Industry Leaders.

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. The real estate sales team known as the “Chad Schwendeman Real Estate Group” led by Chad Schwendeman, Broker/Owner of EXIT Lakes Realty Premier with offices […] The post EXIT Realty’s Top Team in North America for 2020 Announced appeared first on Real Estate Industry Leaders.