Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott states That a  recent   survey   from   Bankrate   asks prospective buyers to identify the biggest obstacles in their homebuying journey. It found that 36% of those polled said saving for a down payment is one of their primary hurdles to buying a home. If you feel the same way, the good news is there are many down payment assistance programs available that can help you achieve your  homeownership goals . The key is understanding where to look and learning what options are available. Here’s some information that can help you. You Can Qualify Even if You’ve Purchased a Home Before There are several misconceptions about down payment assistance programs. For starters, many people believe there’s only assistance available for  first-time homebuyers . While first-time buyers have many options to explore, repeat buyers have some, too. According to the latest  Homeowne...

  Cynthia  Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott states.  You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A   recent survey   from   Pulsenomics   asked over one hundred housing market experts and real estate economists if they believe the housing market is in a   bubble . The results indicate most experts don’t think that’s the case   (see graph below) : As the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble.  In the same survey, experts give the following reasons why this isn’t like 2008: The recent growth in  home prices  is because of demographics and low inventory Credit risks are low because underwriting and  lending standards  are sound If you’re concerned a crash may be coming, here’s a deep dive in...

   If you’re following along with the news today, you’ve heard about rising inflation. States  Cynthia Eastwood - President/Broker of Bello Sol Inc-West USA Realty of Prescott  Today,   inflation   is at a   40-year high . According to the   National Association of Home Builders   (NAHB): “Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an  8% rate and was the largest year-over-year gain since December 1981 .” With inflation rising, you’re likely feeling it impacts your day-to-day life as prices go up for gas, groceries, and more. These climbing consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile. If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that pat...

Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  Once you’ve applied for a mortgage to   buy a home , there are some key things to keep in mind. While it’s exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers...

If you’re following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states. Is the boom over? Is the market crashing or correcting? Here’s what you need to know. The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis. This combination led to record-high demand and record-low supply, and that wasn’t going to be sustainable for the long term. The latest data shows early signs of a shift back to the market pace see...

  If you’re following the news, all of the headlines about conditions in the current   housing market   may leave you with more questions than answers.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   Is the boom over? Is the market crashing or correcting?   Here’s what you need to know. The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low  mortgage rates  and  millennials  reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis. This combination led to record-high demand and record-low supply, and that wasn’t going to be sustainable for the long term. The latest...