Housing Forcaset

The infographic below shows Fannie Mae's housing forecast as of August 2013. Home sales, prices and mortgage rates are all expected to rise.

When do you think it will be a good time to buy?

If you are considering a first time or move up home purchase, give us a call, we are eager to expalin to you the benefits of homeownership.

Steve Hill and Sandra Brenner
Best In Client Satisfation
Windermere Real Estate
BrennerHill.com
206-769-9577

Fannie Mae 3

Posted on September 6, 2013 at 3:00 pm
Steve Hill | Category: Fannnie Mae Housing Forecast | Tagged , , , , , , , , ,

As Interest Rates Rise, So do Home Prices

It may seem counterintuitive, but historically, as interest rates rise, so do homes prices. Check out the graph below. Every dramatic mortgage increase has also given rise to home prices. Waiting to buy will cost more than an increase in interest rates, the home will cost more too.

 

 

 

 

 

 

 

 

 


Steve Hill and Sandra Brenner
Best In Client Satisfaction
Windermere Real Estate
BrennerHill.com
call/text 206-769-9577

Posted on September 5, 2013 at 3:00 pm
Steve Hill | Category: Real Estate Prices and Mortgage Rates | Tagged , , , , , ,

Now Is The Time To BUY!

Considering A Home Purchase?
Let our experience save you time and money!

Steve Hill and Sandra Brenner
Windermere Real Estate Seattle Northwest
206-769-9577

Posted on June 4, 2013 at 8:01 pm
Steve Hill | Category: Home Purchase | Tagged , , , , ,

When To Buy a House? RIGHT NOW!

traffic lightsAfter witnessing the housing bubble ‘pop’ just a few years ago, many would be buyers may be hesitant to pull the trigger. Today, we want to explain that the greatest risk a buyer can take right now is actually waiting to buy a home.

We realize that every purchaser wants to be able to get the best deal. They want a great price and the lowest mortgage interest rate possible because those to items together will determine the monthly cost their family will pay. Let’s look at each one:

Are home prices rising?

Just last week, the Case Shiller Pricing Index was released. The index revealed that U.S. home prices increased by 10.2% over the last twelve months. Last month, theHome Price Expectation Survey was released predicting that home values would increase by at least an additional 3.5% for each of the next five years.

If you were waiting for the absolute bottom of the home price declines, you already missed it.

Are interest rates rising?

According to Freddie Mac’s Weekly Primary Mortgage Market Survey, the 30 year mortgage rate shot up to 3.81% last week – the highest level in over a year. This is an increase of a half of a percentage point in the last six months. And the Mortgage Bankers AssociationFannie Mae and the National Association of Realtors all predict that rates will continue rise over the next eighteen months.

Conclusion

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Considering Buying?
Give us a call and let our experience save you time and money.

Steve Hill and Sandra Brenner
Windermere Real Estate Seattle Northwest
206-769-9577

Posted on June 3, 2013 at 1:45 pm
Steve Hill | Category: Home Purchase | Tagged , , , , , , ,

Optimism over home prices reaches milestone

A majority of Americans now expect home prices to increase over the next year, pointing to growing optimism among housing-market observers, according to the results of Fannie Mae’s April 2012 National Housing Survey.

By comparison, in April of last year only 32 percent of those surveyed said they believed home prices would appreciate over the next year. In April, the three percentage point increase in the share of Americans who believe prices will increase was enough to push the total share of those bullish on home prices to 51 percent, Fannie Mae said.

“For the first time in the survey’s three-year history, the majority of Americans surveyed now expect home prices to increase,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Crossing the 50 percent threshold marks a significant milestone as most Americans believe a housing recovery is truly occurring throughout the country. Reflecting that increased optimism toward housing, the share of Americans who think it is a good time to sell has doubled during the last year. Many homeowners who have been underwater are gradually returning to positive equity, and selling is now becoming an available and attractive option again.”

As buyers continue to bid up prices in many markets suffering from a shortage of inventory, the share of Americans who believe now is a good time to sell continued to climb in April, according to the survey. That share of respondents rose by four percentage points in April to 30 percent, exactly double the share recorded last year.

Other results of April’s survey appear to highlight growing optimism among Americans in the larger economy as well. They include:

  • The share of respondents who say the economy is on the right track increased 4 percentage points over March to 39 percent.
  • The percentage of people who expect their personal financial situation to get worse over the next 12 months dropped by five percentage points to 16 percent.
  • Eleven percent reported significantly lower household expenses compared to 12 months ago, a three percentage point increase over March.

– See more at: http://www.inman.com/2013/05/07/optimism-over-home-prices-reaches-milestone/#sthash.aYAgiAB4.dpuf

http://bit.ly/10pLzTB

Posted on May 10, 2013 at 8:01 pm
Steve Hill | Category: Home Prices | Tagged , , , , , ,

Here’s What Is Really Behind Home Price Gains

The numbers just keep going up. Home prices are defying gravity and expectations, which has some asking exactly how real they are and what is driving them. The answers lie, again, in the numbers, which vary depending on what particular report you choose.

Home prices nationally, including sales of distressed properties, rose 10.5 percent in March from a year ago, according to a new report from CoreLogic. Read on HERE

http://bit.ly/18tDOCH

Posted on May 9, 2013 at 8:01 pm
Steve Hill | Category: Home Price Gains | Tagged , , , , , ,