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The recent collapse of Silicon Valley and Signature banks sent shockwaves through the financial sector, causing a ripple effect through the economy.
While the situation has been challenging, there’s also been a silver lining in real estate:
Mortgage rates are down.
Read on for a summary of the situation, as well as what it means for homebuyers, sellers, and owners like you.
Today’s real estate market is one of the fastest in recent memory. (Though things have slowed a bit lately) With record-low inventory in many market segments, we’re seeing multiple offers—and sometimes even bidding wars—for homes in the most sought-after neighborhoods. This has led some sellers to question the need for an agent. After all, whyContinue reading “Can I Buy or Sell a Home Without a Real Estate Agent? – Todd Mowry Your Local Orlando Area Realtor”
Here we are in a new month and a new year. The housing market is still moving along…it just has slowed down a bit compared to the few torrid paced years we had before. We are also coming into a new year and out of the holidays which is a slower time of year for home sales in general every year. The FED has raised rates again, but they are still staying in the same ballpark of rates that has been the average over the past 30 or so years. The past 30 years the average after the peaks and valleys has been around 6 to 7% and thats where we are. I don’t see 4% or less coming back anytime soon. It would be great, but for all of you holding out for that again..good luck. Right now if you plan on buying a home in the near future… soon… if not now is a good time if you want to have more choices and be able to take your time. The buying cycle has slowed down to more of a normal pace and buyers and sellers can breathe and real contract negotiations and home inspections can go back on again. Buyers have more to choose from and sellers actually have to paint and fix problems that were being overlooked in the past months and couple years. Springtime historically is going to be busier so start looking now if you are ready. Prices might drop more later, but then people are going to start jumping back into the maket and the deals will be there, but have more competition again less time to make a decision.
Understanding a home’s true market value is about more than pictures, software assessments and price-per-square-foot. Whether you’re a current homeowner thinking of selling or are house-hunting, it’s crucial you understand what factors affect home valuation. By partnering with a local market expert, sellers will avoid pricing their house out of the market (the kiss of death in real estate) and buyers will ensure they get a good deal on their next home.
So, how do you accurately calculate a home’s value? After all, the value a home is assigned by its town or county and the one it’s given when it’s listed are often dramatically different from one another. Which one is accurate and what does it all mean? Read on to learn more.
Smartphones are not only a useful tool for communication, they also are useful in planning the future and getting organized. You may not think of using them to plan fixer projects or to get your home ready, but they can help you map out a strategy(whether you plan to buy or sell), save money, learn about the homes in your neighborhood and get inspired for your next renovation project.
Time once again for a market update for Orlando-Kissimmee-Sanford and the surrounding communities. As you can see from the graphic above…
Last year, one factor drove the real estate market more than any other: rising mortgage rates. In March 2022, the Federal Reserve began a series of interest rate hikes in an effort to pump the brakes on inflation.1 And while some market sectors have been slow to respond, the housing market has reacted accordingly. BothContinue reading “2023 Real Estate Market Outlook (And What It Means for You)- Todd Mowry Your Local Orlando Area Realtor”
What exactly is your home buying power. Read to see how your income and debts affect your payment and define your buying power.
Many sellers in today’s market favor buyers who are willing to guarantee their full offer price—even if the property appraises for less. For the buyer, that could require a financial leap of faith that the home is a solid investment. It also means they may need to come up with additional cash at closing to cover the gap.
We all dream about having our own home and not be compelled to
live in a rental. However if you’re just like most of today’s renters, you
most likely feel trapped in an apartment or condo that just doesn’t feel
comfortable and like your home. How could you feel at home in a place
where you’re not allowed to hang a painting on the wall ? Don’t you
feel stuck in a rut with literally no chance of getting out ? Well, you
shouldn’t. Believe it or not, there are ways to move out of a rental and
into your own home.