Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation-states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. In the United States, there are many valuable benefits available to Veterans, including   VA home loans . For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to   purchase   their own homes. As we consider the full impact of VA home loans, it’s important to both understand these great  options  for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being  knowledgeable  about what’s available and how they work may be a game-changer for many. Facts  about 2019 VA Home Loans  (most current data) : 624,546  home loans were guaranteed by the Veterans Administrat...

   In today’s real estate market, the buzz is all about how it’s a great time to sell your house states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Buyer   demand   is high, and there simply aren’t enough homes available to buy to meet that growing need. This means   now is the time to make a  move   so you can close the deal on your ideal terms. Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. According to  Zillow , here are the top three  reasons  homeowners who are thinking of selling sometime in the next three years are  not  putting their houses on the market right now: 34% – Life is too uncertain right now 31% – Financial uncertainty 25% – COVID-19 health concerns If you identify with any of these, you’re not alone. Whether it’s the future of your employment situa...

  As the current forbearance   mortgage relief options   come to an end, many are wondering if we’ll face a foreclosure crisis next year states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. This is understandable, especially for those who remember the housing crisis that began in 2008. The reality is, plans have been put in place through forbearance to ensure history doesn’t repeat itself. This year, homeowners are able to request 180 days of mortgage relief through forbearance. Upon expiration of that timeframe, they’re also entitled to request 180 additional days, bringing the total to 360 days of deferred payment eligibility. As forbearance expires, homeowners should stay in touch with their lender, because creating a plan for the deferred payments is a critical next step to avoiding foreclosure. There are  multiple options  for homeowners to pursue at this point, and with the right planning and communication with the lender, foreclosu...

   As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year. Today’s high buyer demand combined with low housing inventory means we’re seeing home prices  appreciate  at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to  Freddie Mac : “The record low mortgage rate environment is  providing tangible support to the economy at a critical time , as housing continues to propel growth.” These factors are driving a positive impact on the economy as a whole. According to the  National Association of Realtors  (NAR), the real estate ind...

   Today, Americans will decide our President for the next four years states Mike Eastwood chief Executive officer of West USA Realty of Prescott. 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. Analysts will try to measure the impact feasible changes in regulations might have on housing, the effect of a possible first-time buyer program, and any number of other situations based on who wins. The housing market, however, will remain strong for four reasons: 1. Demand Is Strong   among Millennials The nation’s largest  generation  began entering the housing market last year as they reached the age to marry and have children – two key drivers of homeownership. As the  Wall Street Journal  recently  reported : “Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the U.S. housing mark...

  As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices states MIke Eastwood Chief Executive Officer of West USA Realty of Prescott. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come. Due to the  undersupply  of homes on the market today, there’s upward pressure on prices. Consider simple economics: when there is a high demand for an item and a low supply of it, consumers are willing to pay more for that item. That’s what’s happening in today’s real estate market. The housing supply shortage is also resulting in  bidding wars , which will also drive price points higher in the home sale process. There’s no evidence that buyer  demand  will wane. As a result, experts project price appreciation will continue over the next twelve months. Here’s a graph of the major for...