If you’ve been preparing to buy a home in the last couple of years, then you’re probably aware of the serious housing inventory shortage you may have to contend with.
Low housing supply has led to rising home prices, buyer competition and, in many markets, bidding wars.
But what caused the shortage in the first place? And why hasn’t it changed much in recent years? Here’s what you need to know.
Slow Housing Construction: Builders have reduced their work since the housing crash in 2008. There have also been issues with supply chains, the rising cost of lumber and other materials, and contractor shortages. All these elements have made it harder to build new homes to increase supply.
Homeowners Staying Put: Right now, mortgage rates are higher than they were at the height of the pandemic. Finding a new home doesn't always make sense for homeowners with the 2% or 3% rates seen a few years ago. Few are choosing to sell because of interest rates, but man. ...

What elements make up your credit score?






When you buy a home, your credit score plays an essential role: It can impact what loans you’re eligible for and the interest rate you get (which will affect your monthly payment costs).

But what determines your score? The exact elements depend on which scoring method you’re looking at, and lenders often use FICO.

Generally speaking, credit scores range from 300 to 850 and are influenced by the following five factors:



LEARN MORE >>












Refer a Friend










Search Now!










Request Report



















 






FIRST-TIME HOMEBUYERS






 














How One App Could Help You Find a Home

It can be hard to find a new place. And while listing platforms are a good place to start, branching out to social media might offer plenty of inspiration or help in the real estate market. ...

How to Prepare for Your Home Search






Whether you were outbid on every home you liked or you never found the right fit because of limited inventory, you probably encountered a few challenges if you tried to buy a home this year.

With a new year around the corner, are you thinking about continuing your search? No matter what the market looks like in 2022, we can work together to find the right home for you.

To start, take these four steps to prepare for a successful experience, and reach out when you’re ready.

1. Stick to a budget. Tighten those purse strings and start funneling away as much money as possible for your closing costs, down payment and other expenses. Typically, the higher your down payment is, the easier it is to get a mortgage loan.

2. Work on your credit. Increasing your credit score can help you get a lower mortgage rate, which means a more affordable home purchase on the whole. ...

4 Key Questions About Down Payments






Down payments can be a challenge to navigate, even for experienced homebuyers. 

How much do you need to put down? Do current market conditions change anything for you? Even the most basic questions aren’t always easy to answer.

Whether you’re thinking of buying soon or planning ahead for a purchase in 2022, now is a good time to clear up any uncertainties and come up with the right strategy for your household. 

Take a look at these frequently asked questions, and reach out if you need a helping hand.



4 QUESTIONS TO ASK >>












Refer a Friend










Search Now!










Request Report



















 






FIRST-TIME HOMEBUYERS






 














When Is It Too Soon to Sell Your House?

While it's technically possible to sell your house right after buying it, it's rarely ...