Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more challenging in recent years:
“Since 2011, the share of first-time home buyers has been under the historical norm of 40% as buyers face tight invento...
Friday, January 6, 2023 8:00 am by Baldwin REALTORS®
ROBERTSDALE, Ala. – The Baldwin County housing market operated at a slower pace in December 2022, according to statistics reported by Baldwin REALTORS® Multiple Listing Service (MLS). Both new inventory and closed sales decreased in comparison with December 2021 data, and properties stayed available on the market for more days than the year prior. Altogether, the county saw a total amount of $218,205,529 in closed sales – a 42.8% decrease com...In 2022 we saw major shifts in the market. Home Prices: Some experts think home prices will drop next year, though the forecasted decline is higher in the new home market. Moody's Analytics expects house prices to drop by 10 percent next year due to rising housing costs and mortgage rates. Mortgage Rates: Although there is a lot of uncertainty, some experts think that rates will dip or level out in 2023. Economic Outlook: Fitch Ratings' most recent global economic outlook pre...
We've all heard it: For sale by owners saves money. But is it true? Do sellers really save money when they sell their home FSBO?
The short answer is NO. In fact, selling a home FSBO can actually cost you more than if you had hired a real estate agent.
Let's look at the facts:
-Most FSBOs don't have a professional photographer shoot photos of their house, which means that buyers aren't seeing the best possible representation of what they're buying. This will make it harder to get top dollar fo...You're finally buying a house! You've been saving up for years, and nothing could be more
exciting than the prospect of buying your own home. However, purchasing a new home can be overwhelming. There's so much to do you may not know where to start. Here are some of the things first-time homebuyers make mistakes on so you can avoid them.
Higher Rates and Short Supply: The State of Real Estate in 2022
The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1
But while some had hoped 2022 would bring a return to normalcy, the U.S. real estate market continues to boom, despite rising interest rates and decreasing affo...