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Foreclosure Rate Drops to New Post-Crisis Low [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • According to CoreLogic, the national foreclosure rate dropped to 1.1% of all homes with a mortgage. This is the lowest percentage experienced since October 2007.
  • April marked the 54th consecutive month of year-over-year declines in foreclosure inventory.
  • Only 3% of homes in the United States are in serious delinquency. More and more homeowners are escaping negative equity as prices rise.

 

 

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What’s Happening in the Real Estate Market? | Simplifying the Market

This is a pretty common question that a potential home buyer or seller may be asking themselves. Leading economists in real estate converged in New Orleans this past week as they presented their answer to this question at the 50th Annual Real Estate Journalism Conference for the National Association of Real Estate Editors.

Here are the top takeaways from the week of presentations:

Many of the conversations at the conference came back to the impact that Millennials and first-time home buyers will have on the market in the future. Jonathan Smoke, Chief Economist for realtor.com had this to say: 

“At any given time in our history, demographics would explain 60-80% of what’s happening [in the market], and we are in a period of time where

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Here Comes the Housing Inventory!! | Simplifying The Market

Almost every real estate conversation revolves around the continuous rise in house values over the last four years. Some have even mentioned a concern about another possible bubble forming. However, the recent increase in prices can be attributed to a very simple principle: supply and demand.

DEMAND

Demand for single-family housing has continued to increase as the economy slowly moves forward. Recent surveys have shown that over 80% of each generation still believes that homeownership is a part of the American Dream. And a recent Gallup survey showed that Americans believe that real estate is the best long-term investment.

SUPPLY

Over the last several years, many homeowners were unable to put their homes on the market for an assortment of

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US Housing Market Swings in Favor of Homeownership | Simplifying The Market

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, homeownership is a better way to produce greater wealth, on average, than renting. The results from the first quarter index showed that “16 of the 23 metropolitan markets investigated moved in the direction of buy territory.”

The BH&J Index is a quarterly report that attempts to answer the question: 

Is it better to rent or buy a home in today’s housing market?

“The U.S. housing market, when considered as a whole, has swung marginally more in favor of home ownership over renting a comparable property and investing monthly rent savings in a portfolio of stocks and bonds.”

The latest results were released shortly after the S&P/Case-Shiller Home Price Index,

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Harvard: 5 Reasons Why Owning A Home Makes Sense Financially| Simplifying The Market

We have reported many times that the American Dream of homeownership is alive and well. The personal reasons to own a home differ for each buyer, but there are many basic similarities.

Eric Belsky is the Managing Director of the Joint Center of Housing Studies (JCHS) at Harvard University. He authored a paper on homeownership titled - The Dream Lives On: The Future of Homeownership in America. In his paper, Belsky reveals five financial reasons why people should consider buying a home.

Here are the five reasons, each followed by an excerpt from the study: 

1) Housing is typically the one leveraged investment available.

“Few households are interested in borrowing money to buy stocks and bonds and few lenders are willing to lend them the

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Looking for your next home? SEARCH HERE!

How much is your house worth? FIND OUT HERE!

Today I am going to talk about "Under the Radar" real estate. It helped my buyers do the almost impossible, in this market. Buy a house contingent on the sale of their condo.

Ed and Jen wanted to buy a house, but they needed to sell their condo. The chances of getting a seller, especially one with a house in Cleveland Park, to even consider an offer contingent on the sale of a condo are slim to none. Fortunately, I knew how to increase the odds. 

A homeowner in Cleveland Park had contacted me to advise her on the sale of her house. She wanted me to represent her, but her situation was complicated. She owned the property with her ex-husband and there

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OPEN 1-4pm Sunday, June 12th

2730 Ordway Street NW, #2

Stunning , updated two level condo in pet friendly Ordway Gardens. Three bedrooms, two full baths, laundry room, storage, office nook and central air. Quiet tree lined street, steps to Metro, movies, restaurants, post office, library,shops, and a short walk to the National Zoo.

Monthly condo fee: $544 includes maintenance of buildings & grounds, professional management, trash removal, snow removal, water, sewer, reserve fund & condo liability insurance.

FEATURES & UPDATES
Custom elfa shelving in all 3 bedrooms
Laundry room with built-in shelves
New oven & microwave: 2016
New HVAC system: 2015
New carpet downstairs: 2015
Remodeled bathrooms: 2015
Updated kitchen

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Please stop by...OPEN 1-4pm Saturday, June 10th

3901 Langley Court Washington, DC 20016

Gorgeous, updated 2 level, 3 bedroom with 2 full baths and 2 separate entrances. Fabulous eat-in kitchen, windows on three sides, wood floors & central air. Parking included, conveniently located across from Langley Court. Pool, BBQ areas, tot lot, public tennis, dog park, garden & playground. Around the corner from the new Cathedral Commons Shopping Center. Grocery, pharmacy, restaurants and more. 1 dog plus 1 cat or 2 cats permitted.

Monthly condo fee: $826 includes management, general maintenance of common areas, landscaping, trash & snow removal, security, master insurance policy, reserves, gas, water & sewer.

Virtual tour

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Serious About Home Buying? Get Pre-Approved | Simplifying The Market

from "Keeping Current Matters"

In many markets across the country, the amount of buyers searching for their dream home greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

But even if you are in a market that is not as competitive, knowing your budget will give you the confidence to know if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house

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5 Reasons To Hire A Real Estate Pro | Simplifying The Market

from "Keeping Current Matters" 

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate

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