The level of equity homeowners have is at an all-time high. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.
Read MoreThe question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale.
Read MoreThe housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports that there were 410,000 fewer single-family homes for sale this March than in March of 2020. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons.
Read MoreToday, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors they’re pointing to is the availability of mortgage money. Recent articles about the availability of low down payment loans and down payment assistance programs are causing fear that we’re returning to the bad habits seen 15 years ago. Let’s alleviate these concerns.
Read MoreIs the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to come up with 20% of the total sale price for your down payment. This means people who could buy a home may be putting their plans on hold because they don’t have that much saved yet. The reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20% down.
Read MoreThe real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low.
Read MoreHappy New Year! We hope 2021 is a wonderful year for you and your loved ones. 2020 was certainly a year of social, political, economic and environmental extremes. Despite the hard times we are proud to say that we helped more people last year than we ever have. We are so grateful for your support recommending our services to friends and family and for the hard work of the members of the Cozza Team. We look forward to whats to come in 2021 and to helping even more in the communities we serve.
Read MoreAccording to the latest CoreLogic Home Price Insights Report, nationwide home values 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.
Read MoreHi Friends!
There is no doubt that 2020 has been a strange and challenging year! Despite the hardships , I am still so grateful to be a part of such a strong and resilient community! We, as a team are proud to still be doing our very best to make the selling and buying of real estate as easy as possible for our clients. I want to give a huge thank you to all of those who recommended buyers and sellers to the Cozza Team, because of that, this year we were able to donate $5,400 to Mentor Me local children mentoring program and $2,000 as part of our $2k Giveaway to local 3rd Grader Elec who is currently battling Leukemia.
Thank you for supporting our mission to give back!
Soon Americans will decide our President for the next four years. That decision will have a major impact on many aspects of life in this country, but the residential real estate market will not be one of them.
Read More
