article id=post-78770 class=post-78770 post type-post status-publish format-standard has-post-thumbnail hentry category-buying-myths category-first-time-home-buyers category-buyers category-move-up-buyers-buyers

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pa href=https://www.shanewillis.com/wp-content/uploads/2018/10/20181015-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5719 src=https://www.shanewillis.com/wp-content/uploads/2018/10/20181015-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/10/20181015-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/10/20181015-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pIn many markets across the country, the number of buyers searching for their dream homes a title=outnumbers href=https://www.shanewillis.com/podcast/how-does-the-supply-of-homes-for-sale-impact-buyer-demand/outnumbers/a the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search./p

pEven if you are in a market that is not as competitive, understanding your budget will give you the /p

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p…/article

pThe post a href=https://www.shanewillis.com/podcast/pre-approval-your-1st-step-in-buying-a-home/Pre-Approval: Your 1st Step in Buying a Home/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/10/20181008-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5704 src=https://www.shanewillis.com/wp-content/uploads/2018/10/20181008-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/10/20181008-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/10/20181008-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pOwning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence./p

pRealtor.com reported that:/p

p“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, …/p

pThe post a href=https://www.shanewillis.com/podcast/the-true-cost-of-not-owning-your-home/The True Cost of NOT Owning Your Home/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/10/20181004-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5696 src=https://www.shanewillis.com/wp-content/uploads/2018/10/20181004-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/10/20181004-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/10/20181004-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pHome sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening?/p

pThe market has definitely softened. However, according to two chief economists in the industry, we are a long way from a market that totally favors the purchaser:/p

h4a title=Dr. Svenja Gudell, Zillow Chief Economist href=http://zillow.mediaroom.com/2018-09-27-Millennials-face-greatest-hurdles-even-as-housing-market-begins-to-soften target=_blank rel=noopener noreferrerDr. Svenja Gudell, /a/h4

p…/p

pThe post a href=https://www.shanewillis.com/podcast/are-we-about-to-enter-a-buyers-market/Are We About to Enter a Buyers’ Market?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/10/2018100-Share-STM-1.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5690 src=https://www.shanewillis.com/wp-content/uploads/2018/10/2018100-Share-STM-1.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/10/2018100-Share-STM-1.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/10/2018100-Share-STM-1-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pWhen it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. When it comes to today’s real estate market, though, the top two factors to consider are what’s happening with stronginterest rates inventory./strong/p

h4strongInterest Rates/strong/h4

pMortgage interest rates have been on the rise and are now over three-quarters …/p

pThe post a href=https://www.shanewillis.com/podcast/2-factors-to-watch-in-todays-real-estate-market-whether-buying-or-selling/2 Factors to Watch in Today’s Real Estate Market Whether Buying or Selling/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

preFull Credit for article given to The News Herald (Panama City, Fla.), Eryn Diona href=https://www.shanewillis.com/wp-content/uploads/2018/05/20180521-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-4219 src=https://www.shanewillis.com/wp-content/uploads/2018/05/20180521-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/05/20180521-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/05/20180521-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/pre

pTwice a year, every year, like clockwork if you will, time jumps ahead, then behind an hour for Daylight Savings Time./p

pExcept in Florida, where it doesn’t./p

pOr, it shouldn’t, anyways. That was the plan when the Florida Legislature overwhelmingly passed the cutely named “Sunshine Protection Act” by a margin of 103 to 11 in the House and 33 to 2 in the Senate, making the …/p

pThe post a href=https://www.shanewillis.com/podcast/whats-the-status-of-year-round-daylight-savings-time-in-fla/What’s the status of year-round Daylight Savings Time in Fla?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/10/20181001-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5671 src=https://www.shanewillis.com/wp-content/uploads/2018/10/20181001-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/10/20181001-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/10/20181001-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //a/p

pThe price of any item is determined by the supply of that item, as well as the market’s demand for it. Theem National Association of REALTORS/em (NAR) surveys em“over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” /emfor their monthly ema title=REALTORS Confidence Index href=http://www.realtor.org/reports/realtors-confidence-index target=_blank rel=noopener noreferrerREALTORS Confidence Index/a/emem./em/p

pTheir latest edition sheds some light on the relationship between strongseller traffic/strong(supply) and strongbuyer traffic/strong (demand)./p

h4strongBuyer Demand/strong/h4

pThe map below was created after asking the question: em“How would /em…/p

pThe post a href=https://www.shanewillis.com/podcast/how-does-the-supply-of-homes-for-sale-impact-buyer-demand/How Does the Supply of Homes for Sale Impact Buyer Demand?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/09/20180920-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5654 src=https://www.shanewillis.com/wp-content/uploads/2018/09/20180920-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/09/20180920-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/09/20180920-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //aThe housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest ema title=Home Price Expectation Survey href=https://pulsenomics.com/Home-Price-Expectations.php target=_blank rel=noopener noreferrerHome Price Expectation Survey/a/em:/p

pAfter the bubble burst in June 2007, values strongdepreciated/strong 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values strongappreciating/strong 6.2% annually./p

pThese wild swings in values were caused by abnormal ratios …/p

pThe post a href=https://www.shanewillis.com/podcast/is-the-real-estate-market-finally-getting-back-to-normal/Is the Real Estate Market Finally Getting Back to Normal?/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pema href=https://www.shanewillis.com/wp-content/uploads/2018/09/20180918-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5642 src=https://www.shanewillis.com/wp-content/uploads/2018/09/20180918-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/09/20180918-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/09/20180918-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //aCoreLogic/em recently released their ema title=Home Price Index Report href=https://www.corelogic.com/blog/2018/09/home-price-gains-start-to-slow-this-summer.aspx target=_blank rel=noopener noreferrerHome Price Index Report/a. /emOne of the key indicators used in the report to determine the health of the housing market was home price appreciation. emCoreLogic/em focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared./p

pThe graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range./p

pimg loading=lazy decoding=async class=alignnone wp-image-78224 src=https://files.mykcm.com/2018/09/10133500/20180918-STM-ENG.jpeg alt=Home Prices: The Difference 5 Years Makes width=600 height=450 //p

pAs you can see in the graph, the …/p

pThe post a href=https://www.shanewillis.com/podcast/home-prices-the-difference-5-years-makes/Home Prices: The Difference 5 Years Makes/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/09/20180911-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5627 src=https://www.shanewillis.com/wp-content/uploads/2018/09/20180911-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/09/20180911-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/09/20180911-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //aWe all realize that the best time to sell anything is when the demand for that item is high and the supply of that item is limited. The last two major reports issued by the emNational Association of Realtors/em (NAR) revealed information that suggests that right now continues to be a great time to sell your house./p

pLet’s look at the data covered in the latest ema title=Pending Home Sales Report href=https://www.nar.realtor/newsroom/pending-home-sales-trail-off-07-percent-in-july target=_blank rel=noopener noreferrerPending Home Sales Report/a /emandem a title=Existing Home Sales Report href=https://www.nar.realtor/newsroom/existing-home-sales-slip-07-percent-in-july target=_blank rel=noopener noreferrerExisting Home Sales Report/a./em/p

h4strongTHE PENDING HOME SALES /strong/h4

p…/p

pThe post a href=https://www.shanewillis.com/podcast/nar-reports-show-its-a-great-time-to-sell-pensacola-real-estate/NAR Reports Show It’s A Great Time to Sell! Pensacola Real Estate/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p

pa href=https://www.shanewillis.com/wp-content/uploads/2018/09/20180906-Share-STM.jpgimg loading=lazy decoding=async class=alignleft size-full wp-image-5622 src=https://www.shanewillis.com/wp-content/uploads/2018/09/20180906-Share-STM.jpg alt= width=750 height=410 srcset=https://www.shanewillis.com/wp-content/uploads/2018/09/20180906-Share-STM.jpg 750w, https://www.shanewillis.com/wp-content/uploads/2018/09/20180906-Share-STM-300x164.jpg 300w sizes=auto, (max-width: 750px) 100vw, 750px //aHome prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash?/p

pLet’s try to answer these questions based on what has happened in the past as well as what we know about the current real estate market./p

h4strongThe Impact of Rising Interest Rates/strong/h4

pWe a title=explained earlier this year href=https://www.shanewillis.com/blog/freddie-mac-rising-mortgage-rates-do-not-lead-to-falling-home-prices/explained earlier this year/a that rising mortgage rates have not negatively impacted home …/p

pThe post a href=https://www.shanewillis.com/podcast/what-does-the-future-hold-for-home-prices-pensacola-real-estate/What Does the Future Hold for Home Prices? Pensacola Real Estate/a appeared first on a href=https://www.shanewillis.comShane Willis/a./p