According to many   experts ,  states Mike Eastwood Chief executive Officer of West USA Realty of Prescott. The real estate market is expected to continue growing in 2021, and it’s largely driven by the lasting impact the pandemic is having on our lifestyles. As many of us spend extra time at home, we’re reevaluating what “home” means and what we may need in one going forward. Here are 4 reasons people are reconsidering where they live and why they’re expecting to buy a home this year.   1. Record-Low Mortgage Interest Rates In 2020, the average interest rate for a 30-year fixed mortgage hit a record low 16 times, continuing to fall further below 3%. According to  Freddie Mac , the average 30-year fixed interest rate today is  2.65% . Many wonder how low these rates will go and how long they’ll last. Len Keifer,  Deputy Chief Economist  for  Freddie Mac ,  advises : “If you’ve found a home that fits your needs at a price you can ...

  According to the latest   CoreLogic  Home Price Insights Report , nationwide   home values increased by 8.2%   over the last twelve months. The dramatic rise was brought about as the inventory of homes for sale reached historic lows at the same time buyer demand was buoyed by record-low mortgage rates states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. As   CoreLogic   explained : “Home price growth remained consistently elevated throughout 2020. Home sales for the year are expected to register above 2019 levels. Meanwhile, the availability of for-sale homes has dwindled as demand increased and coronavirus (COVID-19) outbreaks continued across the country, which delayed some sellers from putting their homes on the market. While the pandemic left many in positions of financial insecurity, those who maintained employment and income stability are also incentivized to buy given the record-low mortgage rates available; this is inc...

 I f one of the questions you’re asking yourself is,   “Should I sell my house this year?”  consumer sentiment about selling today should boost your confidence in the right direction states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Even with the current health crisis that continues to challenge our nation, Americans still feel good about selling a house. Here’s why. According to the latest  Home Purchase Sentiment Index  from  Fannie Mae , 57% of consumer respondents to their survey indicate now is a good time to buy a home, while  59% feel it’s a good time to sell one : “The percentage of respondents who say it is a good time to sell a home remained the same at 59%, while the percentage who say it’s a bad time to sell decreased from 35% to 33%. As a result, the net share of those who say it is a good time to sell increased 2 percentage points month over month.” As you can see, many still believe that, despite everything goi...

  The housing market recovery coming into the new year has been nothing short of remarkable States Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Many experts agree the turnaround from the nation’s economic pause is playing out extremely well for real estate, and the current market conditions are truly making this winter an ideal time to make a move. Here’s a dive into some of the biggest wins for homebuyers this season. 1. Mortgage Rates Are Historically Low In 2020, mortgage rates hit all-time lows 16 times. Continued low rates have set buyers up for significant long-term gains. In fact,  realtor.com  notes: “Given this means homes could cost potentially tens of thousands less over the lifetime of the loan.” Essentially, it’s less expensive to borrow money for a home loan today than it has been in  years past . Although mortgage rates are expected to remain relatively  low  in 2021, even the slightest increase can make a big differe...

  It’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental attachments to the home we’re leaving behind states Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. Growing emotions can help or hinder a sale depending on how we manage them. When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when it’s time to move. Being mindful and prepared for the process can help you stay on the right track when selling your house this year. 1. Price Your Home Right When  inventory  is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Don’t forget that the buyer’s bank will send an appraiser to determine the fair value for your house. The bank will not lend more than what the house is wo...

  There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process States Mike Eastwood Chief Executive Officer of West USA Realty of Prescott. If you’re considering selling on your own, known in the industry as a  For Sale By Owner (FSBO) , it’s critical to consider the following items. 1. Your Safety Is a Priority Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours, re...