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Real Estate and Market News

Market Conditions

Pre-Approval in 2023: What You Need To Know

One of the first steps in your <a href="https://www.simplifyingthemarket.com/2023/01/06/tips-to-reach-your-homebuying-goals-in-2023-infographic/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">homebuying journey</a> is getting pre-approved. To understand why it’s such an important step, you need to understand what <a href="https://www.simplifyingthemarket.com/2022/12/26/financial-fundamentals-for-first-time-homebuyers/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">pre-approval</a> is and what it does for you. <em>Business Insider </em><a href="https://www.businessinsider.com/personal-finance/mortgage-preapproval">explains</a>:

Posted on 
January 19, 2023
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Market Conditions

Have Home Values Hit Bottom?

Whether you’re already a homeowner or you’re looking to become one, the recent headlines about <a href="https://www.simplifyingthemarket.com/2022/12/12/what-every-seller-should-know-about-home-prices/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">home prices</a> may leave you with more questions than answers. <a href="https://www.simplifyingthemarket.com/2022/12/27/confused-about-whats-going-on-in-the-housing-market-lean-on-a-professional/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">News stories</a> are talking about home prices falling, and that’s raising concerns about a repeat of what happened to prices in the <a href="https://www.simplifyingthemarket.com/2023/01/11/todays-housing-market-is-nothing-like-15-years-ago/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">crash in 2008</a>.

Posted on 
January 18, 2023
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Market Conditions

Think Twice Before Waiting for 3% Mortgage Rates

Last year, the <em>Federal Reserve</em> took action to try to bring down inflation. In response to those efforts, <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">mortgage rates</a> jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% <a href="https://www.freddiemac.com/pmms/archive">last October</a>. Hopeful <a href="https://www.simplifyingthemarket.com/2023/01/04/avoid-the-rental-trap-in-2023/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">buyers</a> experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Posted on 
January 17, 2023
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Market Conditions

What Past Recessions Tell Us About the Housing Market

It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at <em>Bankrate</em>, <a href="https://www.bankrate.com/investing/stock-market-outlook-2023/">says</a>:

Posted on 
January 16, 2023
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Market Conditions

Is It Time To Sell Your Second Home?

During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a <a href="https://www.investopedia.com/articles/personal-finance/092414/investing-luxury-real-estate.asp">recent article</a>, <em>Investopedia </em>shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.

Posted on 
January 12, 2023
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Market Conditions

Today’s Housing Market Is Nothing Like 15 Years Ago

Today's housing market is very different than the frenzied one from the past couple of years. In the second half of 2022, there was a dramatic shift in real estate, and it caused many people to make comparisons to the 2008 housing crisis. While there may be a few similarities, when looking at key variables now compared to the last housing cycle, there are significant differences.

Posted on 
January 11, 2023
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Market Conditions

The Truth About Negative Home Equity Headlines

Home equity has been a hot topic in real estate news lately. And if you’ve been following along, you may have heard there’s a growing number of homeowners with negative equity. But don’t let those headlines scare you.

Posted on 
January 10, 2023
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Market Conditions

What Experts Are Saying About the 2023 Housing Market

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year.

Posted on 
January 9, 2023
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