#home prices

[tesserox]

Update!!

Thank you everyone for the support you've shown. We're 1k in and there are no words to express my gratitude. Every little bit helps and we're trying really hard to shore up as much as we can for our down payment. If you can share our go fund me info with anyone and everyone, that will only help. We truly appreciate any amount of support you can give. Thank you so much.

[gabe-sanders]

2023 Year End Price Forecasts

[texasfsboguy]

Are you looking to sell your home quickly and for the highest possible price? Strategic pricing strategies can be the key to maximizing your home’s selling potential. By carefully setting the right price, you can attract more potential buyers, generate competition, and ultimately secure a better deal.

In today’s competitive real estate market, it’s essential to make your home stand out from the crowd. Finding the sweet spot between being affordable and realizing its full value is crucial. With strategic pricing strategies, you can position your home as an attractive option for buyers, enticing them to make strong offers.

But how do you determine the optimal price for your property? It’s not just a matter of picking a number randomly or basing it solely on what you think your home is worth.  Click here for the rest of the article

[everything-real-estate]

Navigating the Complex Landscape of the 2024 Housing Market

Understanding Market Trends for 2024 As a homeowner or potential buyer, understanding the market trends in the 2024 housing landscape is crucial for making informed decisions. Currently, the market presents a multifaceted scenario featuring projected increases in home prices, fluctuating mortgage rates, and persistent inventory challenges. Let’s dive into these aspects to give you a comprehensive…

[kmrealtygroup]

Your Equity Could Make a Move Possible | KM Realty Group LLC

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. Maybe you’re in the same boat.

But what if there was a way to offset these higher borrowing costs? There is. And the money you need probably already exists in your current home in the form of equity.

What Is Equity?

Think of equity as a simple math equation. Freddie Mac explains:

“. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.”

Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize.

The latest from the Census and ATTOM shows more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity (shown in blue in the chart below):

That means the majority of homeowners have a game-changing amount of equity right now.

How Your Equity Can Help Fuel Your Move

After you sell your house, that equity can help you move without worrying as much about today’s mortgage rates. As Danielle Hale, Chief Economist for Realtor.com says:

“a consideration today’s homeowners should review is what their home equity picture looks like. with the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. this means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.”

To give you some examples, here are a few ways you can use equity to buy your next home:

Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy your next home without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates.

Make a larger down payment: Your equity could also be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much at today’s rates.

The First Step: Determine How Much Equity You Have in Your Home

Want to find out how much equity you have? To do that, you’ll need two things:

The current mortgage balance on your home

The current value of your home

You can probably find the mortgage balance on your monthly mortgage statement. To understand the current market value of your house, you can pay hundreds of dollars for an appraisal, or you can contact a local real estate agent who will be able to present to you, at no charge, a professional equity assessment report (PEAR).

Once you’ve connected with a trusted local agent and run the numbers, you’re one step closer to making a move you may not have thought was realistic — all thanks to your equity.

Bottom Line

If you want to find out how much equity you have and talk more about how it can make your next move possible, let’s connect with real estate experts in Chicago, Illinois.

[tesserox]

Help Support Us Trying to Get Our First House

getting a house is like a daydream for most millenials. we aren't going to get this. hell no.

But sometimes you get a little lucky and the stars start to align and you think, yeah, this'll be okay. We CAN DO THIS.

and then you get scared that you can't

If you can help us, thank you. If you can't, I get it. We just need a little bit of help to see this through to the end.

[ennovance]

Household expectations to future home price appreciation are currently at the highest level since 2007

[gabe-sanders]

Home Prices After Presidential Elections

[sucka99]

[applerealty]

…home prices are rising at over 6% per year

[xtruss]

This Interactive Housing Market Map Shows Home Price Analysis For Over 3,000 Counties

Here are the U.S. counties where home prices are rising—and where they are falling.

— January 29, 2024 | Fast Company | By Lance Lambert

Source Map: Lance Lambert; Source: Zillow Home Value Index, without seasonal adjustment; Created with Datawrapper

Want more stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the daily free ResiClub newsletter.

Following a rate shock-induced correction in the second half of 2022, U.S. home prices stabilized and began a modest ascent in early 2023. Amid lingering housing affordability challenges at levels not witnessed in four decades, average home prices in the national single-family housing market increased due to a lack of resale inventory and a shortage of distressed properties. According to the Zillow Home Value Index, U.S. home prices went up by 3.2% in the calendar year 2023, just below the historical average.

However, certain housing markets, especially in the Northeast and Midwest, experienced home price growth last year that far exceeded the label “modest” and, in some instances, bordered on outright “overheating.” Meanwhile, specific areas in Texas, Louisiana, and Mississippi continued to contend with correction-mode conditions throughout 2023.

Many of these areas in Texas, Louisiana, and Mississippi are grappling with an additional affordability shock, marked by spiking home insurance premiums, coupled with some regional economic softening. Texas has a double whammy being that it’s home to Austin, which became excessively frothy during the pandemic housing boom, as outside California money poured in. Austin was due for a correction of some sort.

While pinpointing the precise reasons for the outperformance of one market over another can be challenging in the short-term, it is probable that some divergence will persist in 2024.

Why?

Generally speaking, housing markets where inventory (i.e. active listings) has returned to pre-pandemic levels have experienced weaker home price growth over the past year. Conversely, housing markets where inventory remains far below pre-pandemic levels have, generally speaking, experienced stronger home price growth over the past year.

And in many areas where pricing experienced an elevated level of growth in 2023, such as San Diego, inventory remains exceptionally tight. Conversely, certain pockets of Texas and Louisiana still grapple with elevated inventory. Notably, inventory is showing a notable increase in some Florida housing markets, hinting at a potential softening in house price growth in those regions soon.

Home Price Shifts in America's 40 Largest Metro Area Housing Markets

Pulled from the Lance Lambert House Price Tracker:

Keep in mind that this analysis uses pricing data without seasonal adjustment. The fact we’re passing through the seasonally soft data window (August through January), coupled with mortgage rates spiking higher in fall 2023, is why most of the month-over-month figures (November 2023 to December 2023) are negative. That should flip in many markets as spring 2024 data rolls in.

[paradisehomepros]

It's great news because it's much slower than the increase in the previous quarter. Slow and steady is what will help stabilize the market. If you have more questions about the current market, message me – I've got answers!

[gothghostiie]

thinking about something that happened to me while babysitting and I am unable to cope with it so obviously I have to make it something for yall

thinking about babysitter!reader being hired by price, you just go to check on the little one in their nursery. the baby is sleeping peacefully, you close the door - but the handle fucking breaks off. naturally you start to panic, the baby is in there all alone and you can't get in, so you call price in literal tears. telling him what happened, desperately scrambling around to look at the baby monitor. He tells you to take a breath, trying to get you to calm down, that its okay, he'll come home.

you're sat on the couch, crying in a panic while watching the blisfully unaware baby over the monitor until Price gets home. he comes in, making a beeline to the small utility room, then to the nursery. its an easy and quick fix, you definitely could have done it yourself you think as you watch over his shoulder. he opens the door quickly and sees the sleeping baby before closing the door with a chuckle and turning to you. you're still sniffling, babbling soft apologies, telling him youll understand if he doesn't pay or ever hires you again - but he shakes his head and leads you to the couch with him, sitting you down.

"sit, love. take a breath." he murmurs, vanishing to the kitchen, from where he comes back a minute later with a cup of tea that he hands you. sits down next to you, then gently pulls you into his side. "C'mere now. its alright bird, don't cry now."

[kmrealtygroup]

Chicago Home Prices Forecast 2024

Curious about the future of Chicago home prices? Look no further! Our experts have analyzed the market trends and forecasted a positive outlook for the next five years. Take advantage of valuable opportunities. Visit our website to view the Chicago Home Prices Forecast 2024 infographics and gain insights into the real estate market. Call our top real estate brokers at (312) 283-0794 for personalised advice. Start planning your real estate success today!

[ncfcatalyst]

National Association of Realtors reports on home buying trends

According to the National Association of Realtors, the median age for repeat home buyers—individuals who have purchased a house before—was 58, dropping from last year’s record of 59. Meanwhile, the average first-home buyer is 35 years old. The association’s deputy chief economist Jessica Lautz spoke to the Washington Post regarding this issue. “We are still talking about an incredibly difficult…