If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to experts, home prices are not projected to decline. Here’s why. With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more  moderate pace . Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise. And while the number of homes for sale today is expected to improve with more sellers getting ready to  list their houses  this winter, we’re certainly not out of the inventory woods yet. Thus, ...

  From the opportunity to take advantage of today’s low   mortgage rates   to changing   homeowner needs , Americans have more   motivation   than ever to buy a home states Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year. As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year. Lawrence Yun, Chief Economist,  National Association of Realtors  (NAR) “This solid buying is a testament to  demand still being relatively high , as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 mill...

  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home. To determine whether you should buy now or wait another year, you can ask yourself two simple questions: Where will home prices be a year from now? Where will mortgage rates be a year from now? Let’s shed some light on the answers to both of these questions. Where Will Home Prices Be a Year from Now? Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts: Fannie Mae : 7.4% Freddie Mac : 7% Mortgage Bankers Association : 5.1% According to the  National Association of Realtors  (NAR), the median price of a home today is  $353,900 . Using an average of t...

  Since the pandemic began, Americans have reevaluated the meaning of the word   home . That’s led some renters to realize the many benefits of homeownership states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott.  including the feelings of   security and stability   and the financial benefits that come with rising   home equity . At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including a home office for   remote work . However, not every purchaser has been able to fulfill their desire for a new home. Here are two obstacles some homebuyers are facing: The ability to save for a down payment The ability to qualify for a mortgage at the current lending standards This past week, both of those challenges have been mitigated to some degree for many purchasers. The FHFA (which handles mortgages b...

  If you’re trying to decide when to sell your house, there may not be a better time than this winter states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott .   Selling   this season means you can take advantage of today’s strong   sellers’ market   when you make a move. Win When You Sell Right now, conditions are very favorable for current homeowners looking for a change. If you sell now, here’s what you can expect: Your House Will Stand Out  – While recent  data  shows there are more sellers getting ready to list their homes this winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home. Your House Will Likely Get Multiple Offers  – When supply is low and demand is high, buyers have to compete with each other for a limited numb...