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The  National Association of Realtors  (NAR) recently released their  2017 Profile of Home Buyers and Sellers  in which they surveyed recent home buyers and sellers about their experiences. An entire section of the profile is dedicated to buyers’ experiences with their real estate agents. If you are looking to buy in 2018, here are the top 5 benefits of using a real estate agent when buying your dream home as cited by recent buyers: 1. Helped the buyer understand the process – 60% If you are new to the home buying process, an experienced real estate professional can explain exactly what to expect during the entire transaction so you aren’t caught off guard. 2. Pointed out unnoticed features/faults with the property – 56% Whether it’s pointing out possible uses for an extra bedroom/office, or using their trained eye to see potentially disastrous hazards that may be hiding out of site, your agent is there to protect your interests and make sure your hom...

Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s  latest  Home Price Index  reports that home prices have appreciated by 7.0% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.7% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase   Freddie Mac’s  Primary Mortgage Market Survey  shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The  Mortgage Bankers Association, Fannie Mae, Freddie Mac  and the  National Association of Realtors  are in unison, projecting that rates will increase by this time next year. An increase in rates will impact YOUR monthly mortgage paym...

Here are five reasons listing your home for sale this winter makes sense. 1. Demand Is Strong The latest  Buyer Traffic Report  from the  National Association of Realtors  (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home. Take advantage of the buyer activity currently in the market. 2. There Is Less Competition Now Housing  inventory  is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon. Historically, the average number ...

According to  Freddie Mac’s  latest  Primary Mortgage Market Survey ,  interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly  housing costs , but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month For More Info: Home for Sale North Carolina  

There is little doubt that it is easier to get a home mortgage today than it was last year. The  Mortgage Credit Availability Index  (MCAI), published by the  Mortgage Bankers Association,  shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year: More buyers are putting less than 20% down to purchase a home The average credit score on closed mortgages is lower More low-down-payment programs have been introduced This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern. The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage. As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are n...

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays. Here are seven great reasons not to wait: Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy  now . You can restrict the showings on your home to the times you want it shown. You will remain in control. Homes show better when decorated for the holidays. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year: The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their dream home during the busy spring and summer...

Multigenerational homes are coming back in a big way! In the 1950s, about 21%, or 32.2 million Americans shared a roof with their grown children or parents. According to an article by Realtor.com, “Nearly 1 in 5 Americans is now living in a multigenerational household – a household with two or more adult generations, or grandparents living with grandchildren – a level that hasn’t been seen in the U.S. since 1950.” Another report that proves this point is the National Association of Realtors’ (NAR) 2017 Profile of Home Buyers and Sellers which states that 13% of home buyers purchased multigenerational homes last year. The top 3 reasons for purchasing this type of home were: To take care of aging parents (22%, up from 19% last year) Cost savings (17%) Children over the age of 18 moving back home (16%, up from 14% last year) Valerie Sheets, Spokesperson for  Lennar , points out that, “Everyone is looking for the perfect home for any number of family situatio...