The real estate market was on fire during the second half of 2020. Buyer demand was way up, and the supply of homes available for sale hit record lows. The same is true for RCFE homes. The price of anything is determined by the supply and demand ratio, so home prices skyrocketed last year. Dr. Lynn Fisher, Deputy Director of the Federal Housing Finance Agency (FHFA) Division of Research and...
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There are so many great reasons to purchase an RCFE home and business. Having an RCFE home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a repeat buyer looking for your dream RCFE, making a move might give you the space or features you need to find greater success and happiness in your business. Whatever your motivations are,...
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. The same is true for RCFE homes. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different. 1. This time, housing supply is extremely limited The price of...
Fierce demand, throngs of buyer tours, bidding wars, rapid appreciation, and limited available RCFE homes to purchase are all due to historically low rates. Insatiable Demand With a record low supply of RCFE homes available to purchase and staggering demand, the market is extremely hot. In heading to Baskin Robbins on the 31st of any month with 31 days, there are lines out the door. Normally a scoop of...
If you’re planning to buy a RCFE home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the RCFE you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the RCFE home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which...
The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is...
According to the latest CoreLogic Home Price Insights Report, nationwide home values (includes RCFE homes) increased by 8.2% over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates. As CoreLogic explained: “Home price growth remained consistently elevated...
In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes: “It will be one of the best winter sales years ever.” The typical winter slowdown in the RCFE housing market is simply not on the...
Once you’ve found the right home and applied for a mortgage, there are some key things to keep in mind before you close. You’re undoubtedly excited about the opportunity to decorate your new place, but before you make any large purchases, move your money around, or make any major life changes, consult your lender – someone who is qualified to tell you how your financial decisions may impact your home...
With an unrelenting lack of supply of RCFE homes FOR SALE, it will not be a buyer’s market anytime soon. An Ongoing Seller’s Market RCFE housing has lined up in favor of sellers for years now and it is due to a low inventory of RCFEs available to purchase coupled with strong demand. This demand is boosted by historically low mortgage rates. It is tough buying an RCFE in today’s housing...