Everyone keeps saying it is a sellers’ market, and it is. It’s tempting to list your house at a high price to capitalize on the trend but it’s important to listen to your real estate agent when determining the price of your home to be listed.
Going through the homebuying and selling process can be tedious work. It may seem enticing to list your home for sale by owner to cut out the commission but is it truly worth it?
There is a high demand in homes but severely limited supply of them. The prices of homes are accelerated by the concept of supply and demand – the strong year-over-year home price appreciation is simple to explain. Demand is increased due to historically low interest rates.
The Federal Housing Administration (FHA) just changed the way lenders calculate student loan debt for mortgage approvals. This means that student loan borrowers have a better shot at being approved for a home mortgage.
Real estate has been heavily affected by the pandemic and has surprised property managers, investors, and experienced real estate agents with how important new technological advances have become for their industry. Emerging trends, like virtual showings, was the new norm and needed to be embraced rather quickly to keep up with the demand of homes.