Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as: “the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, Continue Reading
Retiring: To Consider when Choosing a Home
As more baby boomers are retiring, they will begin to consider selling their home. Retiring can be a tricky process, but finding a home that will adapt to your needs shouldn't have to be. When you plan for the Tallahassee real estate market, keep these factors in mind. 1. Affordability 2. Equity 3. Maitenence 4. Security 5. Pets 6. Mobility 7. Convenience At the end of the day, Continue Reading
Low Interest Rates Have a High Impact on Purchasing Power
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply Continue Reading
Holiday Home Sales Reach Highest Annual Pace in 11 years
Some Highlights: Existing home sales are currently at an annual pace of 5.81 million, the highest pace since December 2006. The inventory of existing homes for sale has dropped year-over-year for the last 30 consecutive months and is now at a 3.4-month supply. NAR’s Chief Economist Lawrence Yun had this to say: “Faster economic growth in recent quarters, the booming stock Continue Reading
