• Cassidy Real Estate Partners | Keller Williams Realty Blog

    Friday, March 24, 2017   /   by Chris Cassidy

    Which Homes Have Appreciated the Most?

    The inventory of existing homes for sale in today’s market was recently reported to be at a 3.6-month supply according to the National Association of Realtors latest Existing Home Sales Report. Inventory is now 7.1% lower than this time last year, marking the 20th consecutive month of year-over-year drops.Historically, inventory must reach a 6-month supply for a normal market where home prices appreciate with inflation. Anything less than a 6-month supply is a sellers’ market, where the demand for houses outpaces supply and prices go up.As you can see from the chart below, the United States has been in a sellers’ market since August 2012, but last month’s numbers reached a new low.Recently Trulia revealed that not only is there a shortage of homes on the market in general, but the homes that are available for sale are not meeting the needs of the buyers that are searching.Homes are generally bucketed into three groups by price range: starter, trade-up, and premium.Trulia’s market misma ...

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    Friday, March 24, 2017   /   by Chris Cassidy

    Don’t Let Your Luck Run Out [INFOGRAPHIC]

    Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National Association of Realtors puts the annual increase in the median existing-home price at 7.1%. CoreLogic, in their most recent Home Price Insights Report, reveals that national home prices have increased by 6.9% year-over-year.The CoreLogic report broke down appreciation even further into four different price categories:Lower Priced Homes: priced at 75% or less of the medianLow-to-Middle Priced Homes: priced between 75-100% of the medianMiddle-to-Moderate Priced Homes: priced between 100-125% of the medianHigh Price Homes: priced greater than 125% of the medianHere is how each category did in 2016:Bottom LineThe lower priced homes (which are more in demand) appreciated at greater rates than the homes at the upper ends of the spectrum.

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    Friday, March 24, 2017   /   by Chris Cassidy

    4 Great Reasons to Buy This Spring!

    Some Highlights: The “Cost of Waiting to Buy” is defined as the additional funds it would take to buy a home if prices and interest rates were to increase over a period of time.Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, while home prices are predicted to appreciate by 4.8% according to CoreLogic.Waiting until next year to buy could cost you thousands of dollars a year for the life of your mortgage!

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    Friday, March 24, 2017   /   by Chris Cassidy

    It's a Seller's Market! Should I Downsize Now?

    Here are four great reasons to consider buying a home today instead of waiting.1. Prices Will Continue to RiseCoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% 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 IncreaseFreddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4% over the last couple months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by at least a half a percentage point this time next year.An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary t ...

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    Friday, March 24, 2017   /   by Chris Cassidy

    What Are the Experts Saying about Mortgage Rates?

    A study by Edelman Berland reveals that 33% of homeowners who are contemplating selling their houses in the near future are planning to scale down. Let’s look at a few reasons why this might make sense for many homeowners, as the majority of the country is currently experiencing a seller’s market.In a blog, Dave Ramsey, the financial guru, highlighted the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing:A smaller home means less space, but it also means less time, stress and money spent on upkeep.Let’s assume you save $500 a month on your mortgage payment. In 30 years, you could have an additional $1–1.6 million in the bank to get you through your golden years.Use the proceeds from selling your current home to pay cash for a smaller one. Just imagine what you could do with no mortgage holding you down! If you can’t pay cash, aim for a 15-year fixed rate m ...

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