Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  If you’re thinking of   buying   or   selling   a house, you’re at an exciting decision point. And anytime you make a big decision like that, you should always consider timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say. The Number of Homes Available for Sale Is Likely To Grow There are early signs  housing inventory  is starting to grow and experts say that should continue in the months ahead.  According  to Danielle Hale, Chief Economist at  realtor.com : “The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to  continue,  . . .  This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic no...

  Are you s omeone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . Now that summer is just around the corner, it’s worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you. Why You May Want To Consider a Vacation Home Today Over the past two years, a lot has changed. You may be one of many people who now  work from home  and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique opportunity to use the flexibility that comes with remote work or the money saved while not traveling to  invest in your future  by buying a vacation home. Bankrate ...

  As   mortgage rates   started to rise this year, many homeowners began to wonder if the value of their homes would fall.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to   appreciate . The latest data on home prices seems to confirm that trend. According to  data  from  CoreLogic , home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green: This is largely due to an ongoing imbalance in  supply and demand . Specifically,  housing supply  is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increased competition drove home prices up even more. Selma Hepp, De...

  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  Because   buying   or   selling   a home is such a   big decision   in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert , you’ll get the best advice for your situation. An Expert Will Give You the Best Advice Possible Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to their office, they won’t immediately tell you how the case is going to end or how the judge or jury will rule. What a good attorney can do, though, is discuss the most effective strategies you can take. They may recommend one or two approaches they believe will work well for your case. Then, they’ll leave you to make the decision on which option you want to pursue. Once you decide, they can h...

   A recession does not equal a housing crisis states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . That’s the one thing that every homeowner today needs to know. Everywhere you look, experts are warning we could be heading toward a recession, and if true, an economic slowdown doesn’t mean homes will lose value. The  National Bureau of Economic Research  (NBER)  defines  a recession this way: “A recession is a significant decline in economic activity spread across the economy, normally visible in production, employment, and other indicators. A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Between trough and peak, the economy is in an expansion.” To help show that home prices don’t fall every time there’s a recession, take a look at the historical data. There have been six recessions in this country over the past four decad...

   If you’re trying to decide whether to rent or buy a home, you’re probably weighing a few different factors states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott.  The   financial benefits   of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own. If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement,  it might be time to consider the perks of owning your home. A Little Change Can Bring Lots of Joy There’s a significant level of pride that comes from  owning a home . That’s because it’s a space that truly belongs to you. A  recent report  from the  National Association of Realtors  (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortabl...