“Many needs have changed in 2020, and it’s okay to admit if your house no longer fits your lifestyle.”
It may seem hard to imagine that the home you’re in today – whether it’s your starter home or just one you’ve fallen in love with along the way – might not be your forever home.
Many needs have changed in 2020, and it’s okay to admit if your house no longer fits your lifestyle. If you’re now working remotely, facilitating virtual school, trying to exercise at home, or simply just spending more time in your own four walls, you may be bursting at the seams in your current house.
According to the latest Home Price Insights from CoreLogic, prices have appreciated 7.3% year-over-year. At the same time, the National Association of Realtors (NAR) reports that inventory has dropped 22% from one year ago.These two statistics are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.
This is great news if you own a home and you’re thinking about selling. The equity in your house has likely risen as prices have increased. Even better is the fact that there’s a large pool of buyers out there searching for the American dream, and your home may be high on their wish list.
If you think you’ve outgrown your current home, let’s connect to discuss local market conditions and determine if now is the best time for you to sell.
To view original article, visit Keeping Current Matters.
In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year.
Borrowers are smart to take advantage of these low rates now and will certainly benefit as a result.
If you’re dreaming of buying a home this year, start by connecting with a local real estate professional.
With today’s positive equity situation, many homeowners will be able to use a loan modification or refinance to stay in their homes.
With high buyer demand and such a low supply, now is the perfect time to sell a house on optimal terms. Why wait until spring?
As many of us spend extra time at home, we’re reevaluating what “home” means and what we may need in one going forward.