The rise in   remote work   is changing what many Americans want in their homes states  Mike Eastwood - Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott  Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs. As a seller, if you no longer need the extra room you have in your home,  rest assured there are buyers who do. Remote Work Is Here To Stay Remote work remains a reality for many Americans. A recent poll from  Garter, Inc.  shows many organizations have not yet returned their offices: “. . .  66% of organizations are delaying reopening their offices  due to new COVID-19 variants.” And it’s not just companies that are choosing to remain remote for the time being – workers are seeking more flexibility. According to research from  PricewaterhouseCoopers , nearly one-fifth of employees want to be fully ...

   Mike Eastwood - Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states t here’s a lot of talks lately about how challenging it can be to find a home to buy. While housing inventory is still low, there are a few important things to understand about the   supply   of homes for sale as we move into the end of the year. The Number of Homes for Sale Usually Peaks in the Fall In the residential real estate market, trends generally follow a predictable and seasonal pattern. Typically, the number of homes available for sale (or active monthly listings) peaks in the fall. But in a chapter where so little feels normal, the question becomes: should we expect a fall peak this year? If we look at the active monthly listings for 2021 ( shown in the chart below ), we’ll see that the number of homes on the market has increased fairly steadily since spring this year. The  realtor.com   data  shows we’re still seeing an increase in active ...

  Mike Eastwood - Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and   low housing supply   are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most  important  transactions in your lifetime, and  it’s critical to keep your best interests in mind.  Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road. Home Appraisal The home  appraisal  is a critical step for securing a mortgage on your home. As  Home Light  explains: “. . . lenders typically require an appraisal to ensure that your loan-to-value rati...

   It’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis states  Mike Eastwood - Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . However, when we add context to the most recent affordability statistics, we soon realize that, though homes are   less affordable   than they have been over the last few years, they are   more affordable   than they historically have been. Black Knight , a premier provider of data and analytics for the mortgage industry, just released their latest  Monthly Mortgage Monitor  which includes a new analysis of the affordability situation. Here’s what the report reveals: “The monthly payment required to purchase the average priced home with a 20% down 30-year fixed rate mortgage increased by nearly 20% (+$210) over the first nine months of 2021, . . . It now requires  21.6% of the median house...

 I f you’re looking to buy or sell a house, chances are you’ve heard talk about today’s   rising home prices   States  MIke Eastwood Author/ Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott  And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall? To answer that question, let’s first understand a few terms you may be hearing right now. Appreciation  is an  increase  in the value of an asset. Depreciation  is a  decrease  in the value of an asset. Deceleration  is when something happens at a  slower pace . It’s important to note home prices have increased, or  appreciated , for  114  straight months. To find out if that trend may continue, look to the experts.  Pulsenomics  surveyed over 100 economists, investment strategists, and housing market analysts...