Mortgage interest rates are going to rise in 2021. The Mortgage Bankers Association in its most recent forecast sees two things that stand out. First, 2020 will prove itself to be the second biggest mortgage year in history. At over three trillion, 2020 will only stand behind 2003 in single family mortgage production history. Second, the MBA joined […]
After three months of less than normal housing activity due to the COVID-19 shutdown, central Ohio saw a spike in home sales last month. The 3,536 homes sold in July were 12.2% higher than June and 6.1% higher than last year. Over 4,100 homes and condominiums were put in contract during the month which was […]
Housing inventory remains at or near all-time lows in many markets and price points across the Columbus and Central Ohio as eager buyers return to market more quickly than sellers. Homeowners may be seeing their neighbors’ homes going under contract at record speeds and believe that selling fast for their target price will be a […]
The housing market continues to outperform historical standards as home prices continue to rise and homes continue to sell at a fast pace. Sellers are definitely calling the shots in today’s market however, two housing indicators may forecast a coming turn in the market. Housing demand from buyers has cooled slightly, while new listings showed […]
A June surge in the share of mortgages 90 days or more overdue is a signal the U.S. could be heading toward a foreclosure crisis, according to a recent report from CoreLogic. The share of mortgages with payments 90 days to 119 days late quadrupled between May and June, rising to 2.3%. This represents the […]
I’m often asked, “Should I use a Realtor if I’m buying new construction from a builder”. The short answer is yes and here are the main reasons why. When you’re house hunting, the allure of new construction is undeniable. You get to be the first to live in a new, pristine home, full of brand-new […]
More buyers are making concessions to win bidding wars amid a deepening housing shortage, record-low interest rates. The pandemic and high unemployment rate haven’t slowed the housing market, and rather home buyers are facing heightened competition for a limited number of homes for sale. In an effort to make their offers more competitive, many have […]
Zillow has announced a partnership with homebuilder D.R. Horton (Locally Westport Homes), allowing buyers of new construction homes to sell their current homes directly to Zillow through its iBuying solution, Zillow Offers. D.R. Horton customers selling their current home through Zillow Offers receive an extended closing timeline of up to eight months, and the flexibility to modify the closing date to better […]
Before buying a home, you would ideally save enough money for a 20% down payment. You can get a home loan with less than a 20% down payment, but you’ll probably have to pay for mortgage insurance. The purpose of the insurance is to protect the mortgage company if you stop making your monthly mortgage payments and default […]
If you’re looking to move up, into a larger and more expensive home, we have some good news for you… it has never been more affordable to move up to a luxury home. Mortgage interest rates are currently below 3%. This represents the lowest levels in the last 50 years. These low interest rates dramatically impact […]
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