Are you looking to buy a home? If so, I have good news for you states  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott While there’s no denying the   housing market   is having a great year, many of the headlines are focused on   the perks   for sellers. But what about buyers today? As a buyer, you’re likely braving bidding wars and weighing   low mortgage rates   versus   price appreciation   as you search for your dream home. If you find yourself a bit discouraged, hear this: there are clear signs buyers may have more opportunities this fall. According to  realtor.com ,  the sweet spot for buyers is just around the corner. In a recent study, experts analyzed housing market trends by looking at data from the past several years. When applied to the current market, experts determined the ideal week to buy a home this year. The research says: “ Nationally,  the best time to ...

  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the  National Association of Realtors  (NAR), homes today are: Receiving an average of  3.8 offers Selling in just 17 days Homes selling quickly and receiving multiple offers highlights how competitive the  housing market  is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they...

   If you’re a renter with a desire to become a homeowner or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home states  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts: Freddie Mac : 5.3% Fannie Mae : 5.1% Mortgage Bankers Association : 8.4% Using the average of the three projections (6.27%), a home that sells for $350,000 today would be valued at $371,945 by the end of next year. That means, if you delay, it could cost you mor...

  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   A lot has changed over the past year. For many people, the rise in remote work influenced what they’re looking for in a home and created a greater appetite for a dedicated home office. Some professionals   took advantage   of the situation and purchased a bigger home. Other people thought working from home would be temporary, so they   chose to get creative   and make the space they already had work for them. But recent headlines indicate working from home isn’t a passing fad. If you’re still longing for a dedicated home office, now may be  the time  to find the home that addresses your evolving needs.  More and more  companies are delaying  their plans to return to the office – others are deciding to remain fully remote permanently. According to economists from  Goldman Sachs  in a recent article from  CNN : “Job ad...

   If you’ve been in your home for longer than five years, you’re not alone states  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . According to recent data from   First American , homeowners are staying put much longer than historical averages ( see graph below ): As the graph shows, before 2008, homeowners  sold  their houses after an average of just five years.  Today, that number has more than doubled to over 10 years.  The housing industry refers to this as your tenure. To really explore tenure, it’s important to understand what drives people to make a move. An article from  The Balance  explores some of the primary reasons individuals choose to  sell  their houses. It says: “People who move for home-related reasons might need a  larger home or a house that better fits their needs , . . .  Financial reasons for moving include wanting a nicer home, moving to a newer hom...