Lake Olympia (Missouri City, TX)
By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
The Drop in Mortgage Rates Brings Good News for HomebuyersOver the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this year, homebuyers across the country should see this decline as welcome news.Freddie Mac reports that the average 30-year rate was down to 5.30% from 5.81% two weeks prior (see graph below):But why is this recent dip such good news for homebuyers? As Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), explains:According to Freddie Mac, the 30-year fixed mortgage rate dropped sharply by 40 basis points to 5.3 percent. . . . As a result, home buying is about 5...
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
Should I Buy a Home Right Now?If you've been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here's some information that could help you make your decision.The Future of Home Price AppreciationEach quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away fro...
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
More Listings Are Coming onto the Market Some Highlights Worried you wont be able to find your next home after you sell? You should know data from realtor.com shows more listings are coming onto the market each month this year. Having additional options can make the search for your next home. But inventory is still low overall, which means your house should still stand out when you sell. If your biggest question is where you'll go if you sell, take this as encouraging news. Lets connect to start the process today.    
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
Why You Need an Expert To Determine the Right Price for Your HouseIf your lifestyle has changed recently and you're ready to make a move, taking advantage of todays sellers market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you're looking for on your house if you're ready to sell.And here's the thing you need an expert on your side to ensure you make all the right moves when you do, especially when it comes to pricing your house. Even in this competitive market, you cant stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they vie...
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released.As the graph shows, appreciation has remained steady at around 18% over the last five months.In addition, the latest S&P Case-Shiller Price Index and the FHFA Price Index show a slight deceleration from the same time last year it’s just not at the level that was expected. However, they also both indicate there's continued strong price growth throughout the country. FHFA ...
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
From the opportunity to take advantage of todays low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.As we wrap up the fall season and move into the winter months, here's a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year.Lawrence Yun, Chief Economist, National Association of Realtors (NAR)This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales...
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By Shayne Stone, "Your Rock Solid Choice Realtor" RETIRED
(HomeSmart)
Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic:Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.Looking back, we can see rents rising isn't new. The median rental price has increased consistently over the past 33 years(see graph below):If you're thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn't paint the picture of the true cost of renting.The Money Renters Stand To Lose This YearA homeowners monthly ...
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Missouri City, TX Real Estate Professionals