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The housing market has gone through a lot of change recently, and much of that was a result of how quickly <a href="https://www.simplifyingthemarket.com/2023/01/17/think-twice-before-waiting-for-3-mortgage-rates/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">mortgage rates</a> rose last year.
If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of <a href="https://www.simplifyingthemarket.com/2023/01/23/want-to-sell-your-house-price-it-right/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">selling</a> it. A <em>short-term rental</em> (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. According to a <em>Harris Poll </em><a href="https://theharrispoll.com/wp-content/uploads/2022/12/State-of-Real-Estate-December-2022.pdf">survey</a>, 28% of homeowners have considered using a rental service to temporarily rent out their home for additional income.
As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. That meant some homeowners decided to press pause on selling.
There are plenty of good reasons you might be ready to move. No matter <a href="https://www.simplifyingthemarket.com/2023/01/02/what-are-your-goals-in-the-housing-market-this-year/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">your motivations</a>, before you list your current house, you need to consider where you’ll go next.
Spring is usually the busiest season in the housing market. Many buyers wait until then to make their move, believing it’s the best time to find a home. However, that isn’t always the case when you factor in the competition you could face with other buyers at that time of year. If you’re ready to buy a home, here’s why it makes sense to move before the spring market picks up.
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the <a href="https://www.simplifyingthemarket.com/2023/01/10/the-truth-about-negative-home-equity-headlines/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">stories</a> in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s <a href="https://www.simplifyingthemarket.com/2023/01/11/todays-housing-market-is-nothing-like-15-years-ago/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">happening today</a>. Here’s a deeper look.
If you’ve seen recent headlines about foreclosures surging in the housing market, you’re certainly not alone. There’s no doubt, the <a href="https://www.simplifyingthemarket.com/2023/01/10/the-truth-about-negative-home-equity-headlines/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">stories</a> in the media can be pretty confusing right now. They may even make you think twice about buying a home for fear that prices could crash. The reality is, the data shows a foreclosure crisis is not where the market is headed, and understanding what that really means is mission critical if you want to know the truth about what’s <a href="https://www.simplifyingthemarket.com/2023/01/11/todays-housing-market-is-nothing-like-15-years-ago/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">happening today</a>. Here’s a deeper look.
If you’ve been following the housing market over the last couple of years, you’ve likely heard about growing affordability challenges. But according to <a href="https://www.simplifyingthemarket.com/2023/01/09/what-experts-are-saying-about-the-2023-housing-market/?a=712644-838b6c55a1809c97da6d61c83d33dbdc">experts</a>, the key factors that determine housing affordability are projected to improve this year. Selma Hepp, Executive, Deputy Chief Economist at <em>CoreLogic</em>, <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights-january-2023/">shares</a>:
In this crazy market, time is money! Don't hesitate to contact Penny, she is ready to go to work for you today!
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