Thursday, February 06, 2020 / by Nick Arndorfer
When the amount of buyers in the housing market outnumbers outnumbers the amount of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd!
Here are three reasons pre-approval should be your first step in the home buying process.
1. Gain a Competitive Advantage
Low inventory, like we have today, means home buyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get a step ahead of other buyers is to get pre-approved for a mortgage before you make an offer. It shows the sellers you’re serious about buying a home, which is always a plus in your corner.
2. Accelerate the Home Buying Process
Thursday, January 16, 2020 / by Nick Arndorfer
Movies, TV shows, and celebrities often have us dreaming of owning large homes, but the reality for most people is quite different.
Since 2015, the square footage of newly built houses has been shrinking, according to Yahoo Finances. This isn't projected to change as we continue into the beginning of the year.
“We expect this downsizing trend to continue in 2020, driven by a confluence of economic and demographic trends.”
Why are smaller homes trending now?
As noted in the article, there are a few main reasons for this demand:
“Many of today’s younger, millennial home buyers have expressed a preference for denser, more urban homes that are more walkable to shared amenities.”
“Today’s older homeowners are expressing a desire for smaller, less maintenance-heavy and more accessible homes as they age and move into newer homes.”
With these two demographic groups surging through the market, the demand for t ...
Monday, December 23, 2019 / by Nick Arndorfer
Questions continue to rise around where home prices will head in 2020. The latest forecast from CoreLogic shows continued appreciation at 5.4% over the next year:Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market Review revealed their latest ARCH Risk Index, which estimates the probability of home prices being lower in two years. Based on the most recent results, 32 of the 50 U.S. states (plus D.C.) had a minimal probability of lowering by 2021.
Experts forecast home price appreciation to continue at a moderate rate as we move through 2020 and beyond. With appreciation growing, now is a GREAT time to reach out to us and start planning for your next move!
Where do you want to be in 2020?
Monday, December 16, 2019 / by Nick Arndorfer
It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.
The good news is, it’s okay to admit if your house no longer fits your needs.
According to the latest 'Home Price Insights' from CoreLogic, prices have appreciated 3.5% year-over-year. At the same time, the National Association of Realtors (NAR) reports inventory has dropped 4.3% from one year ago.These two statistics are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.
This is great news if you own a home and are thinking about selling! The equity in your house has likely risen as prices have increased. Even better is the fact that there’s a large pool of buyers out there searching for the American dream, and your home may be high on their ...
Wednesday, September 25, 2019 / by Nick Arndorfer
Come home to this cozy one and a half story house built in 1920!
917 S. Liberty Street is super close to the historic Independence Square. This 3 bedroom, 2.5 bath house offers main floor laundry, covered porch, and a large, wooded backyard.
Tap here to see more!
Call us to schedule your own private showing!