It's essential to stay up with the latest real estate news, given in full context, without any slant on it. It even becomes more important when you need to sell or buy. Below the videos we'll provide how it can benefit both buyers and sellers.
If you are looking for the latest in real estate news, check out the videos below! If we can help or you have questions, you can reach us at 404-410-6465 or visit CompleteRealtyTeam.com to contact us by email.
Everyday life looks a lot different now than a few years ago. We are learning new ways to do many things, from working from home to talking to our friends and neighbors. Almost everything is moving to a virtual format right now.
Changes to the standard real estate transaction, which vary by state and area, are one of the big things in real estate news we have to get used to. But technology is making it possible for many of us to keep trying to buy or sell a home, which is something we all need.
Below are some parts of the process that are changing because of stay-at-home orders and social distancing, and what you may need to know about each one if you want to buy or sell a home soon.
Latest News For Selling Your House
Many of today's homeowners purchased or refinanced their homes during the pandemic, when mortgage rates were at all-time lows. When rates increased in 2022, some of those homeowners put their plans to relocate on hold, not wanting to lose their present cheap mortgage rate. Yet, while interest rates have begun to fall from last year's peak, they remain higher than they were a few years ago.
Currently, 93% of outstanding mortgages have interest rates at or below 6%. That means that most homeowners with mortgages have a rate lower than what they would obtain if they moved right now. Yet, if you are a homeowner in that situation, keep in mind that mortgage rates aren't the only factor to consider while making a transfer. Your mortgage rate is significant, but you might need or want to relocate for many more reasons.
Homeowners were surveyed and the number 1 reason for selling was to move closer to loved ones, followed by retirement and their neighborhood becoming less appealing. A shift in home structure, as well as the demand for greater space, played a role. If you also wish to relocate or require more space than your existing home has, it may be time to sell.
What you desire and need in a home can be sufficient cause to relocate. Work with a trustworthy real estate professional who will provide advice and experienced help throughout the process to determine what is best for you. They'll be able to lay out all of your alternatives, providing you with the information you need to make an informed selection.
Latest News For Finding And Buying A Home
Many people are thinking about buying a home, but because of everything that affects the economy, some aren't sure if it's smart to buy now or if it would be better to wait. The thing is, the market is almost always shifting.
There is a lot of information about how owning a home can help a person's net worth grow over time. But even now, many people think of 401(k)s before they think of buying a home as a way to build wealth. Especially if you're young and want to buy a home, it's essential to know that homeownership is another vital way to invest in your future.
That's because you'll have a monthly housing cost whether you rent or buy. The question is whether you'll invest in yourself and your future or help someone else (like your landlord) get richer.
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