The Seidel Team

Take a look at this... While we are seeing some improvement, we’re still at near-record lows for housing inventory (as shown in the graph below). Here’s why. Since the pandemic began, sellers have been cautious when it comes to putting their homes on the market. At the same time that fewer people are listing their homes, more and more people are trying to buy them thanks to today’s low mortgage rates. The influx of buyers aiming to capitalize on those rates are purchasing thi...s limited supply of homes as quickly as they’re coming to market. Despite today’s low inventory, there is hope on the horizon. Regarding existing home sales, Sabrina Speianu, Senior Economic Research Analyst at realtor.com, explains, In May, newly listed homes grew by 5.4% on a year-over-year basis compared to the earlier days of the COVID-19 pandemic last yearfor buyers, it means that while they can expect fresh new listings every week, they will have to be prepared to...

Take a look at this... Longer days and sunny weather mean summer is upon us, and what better conditions than right now to upgrade to the home of your dreams? If your needs have changed, it’s a great time to upgrade there’s likely high demand for your current house, and today’s low mortgage rates can help you afford your dream home. If you’re ready to upgrade to a home that matches your changing needs, DM me today.

Take a look at this... Why is there a drastic difference between 2008 and now? In a post from RealtyTrac, they explain, We changed the rules. We told banks they needed more reserves and that they could no longer underwrite toxic mortgages. It turns out that regulation properly done can help us navigate financial minefields. What was different this time? The post mentioned above explains, In 2008 the government saw the foreclosure meltdown as a top-down problem and set ...aside $700 billion for banks under the Troubled Asset Relief Program (TARP). Not all of the $700 billion was used, but the important point is that the government did not act with equal fervor to help flailing homeowners, millions of whom lost their homes to foreclosures and short sales. This time around the government forcefully moved to help ordinary citizens. Working from the bottom-up, an estimated $5.3 trillion went to the public in 2020 through such mechanisms as the... See more

Take a look at this... For generations, the process of buying and selling a home never really changed. A homeowner would try to estimate the market value of their house, then tack on a little extra to give themselves some negotiating room. That figure would become the listing price. Buyers would then try to determine how much less than the full price they could offer and still get the home. As a result, the listing price was generally the ceiling of the negotiation. The actua...l sales price would almost always be somewhat lower than what was listed. It was unthinkable to pay more than what the seller was asking. Today is different. The record-low supply of homes for sale coupled with very strong buyer demand is leading to a rise in bidding wars on many homes. Because of this, homes today often sell for more than the list price. In some cases, they sell for a lot more. According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR...

Take a look at this... June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home. If you’re thinking of buying a home, it might just help you find the stability, community, and comfort you’ve been searching for over the past year. DM me today to determine if homeownership is the right next step for you.

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Be healthy and stay safe tonight as we ring in 2021!

Take a look at this... The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead. Lawrence Yun, Chief Economist, National Association of Realtors (NAR) In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.... Danielle Hale, Chief Economist, realtor.com We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels. Robert Dietz, Senior... See more

Something to consider in 2021!

Take a look at this... As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to...

Take a look at this... The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts projected earlier this year, it still means millions of people are without work. There’s no way to minimize the tremendous...

Take a look at this... Some Highlights With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers.... From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home... See more

Take a look at this... Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place...

Take a look at this... One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down. A recent survey by Point2Homes mentions that 74% of millennials...

Take a look at this... Some Highlights If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you?... New construction is on the rise, so it’s a great time to think about a custom home to fit your family’s changing needs... See more

Take a look at this... Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to wait until they retired to make a move to the beach, the golf course, or the senior living community they were looking to settle into for their later years in life...

Take a look at this... Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant...

Take a look at this... Some Highlights According to CoreLogic, homeowners across the country are gaining significant equity.... Over the past year, the average homeowner gained $9,800 in equity, growing their overall net worth. If you’re ready to sell your house and begin looking for your dream home... See more

Take a look at this... A year ago, additional space and extra amenities had a very different feel for homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular...

Take a look at this... As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market. Specifically, there was concern about home values. After years of rising home prices, would 2020 be the year this appreciation trend would come to a screeching...

Take a look at this... Some Highlights As a seller today, you may think pricing your home on the high end will result in a higher final sale price, but the opposite is actually true.... To sell your home quickly and for the best possible price, you should eliminate buyer concerns by pricing your home... See more

Take a look at this... Homeownership is one of the best ways to invest in your financial future, especially as your home equity grows. Home equity is a form of forced savings that can work to your advantage as the value of your home appreciates. Across the country, home equity was increasing before the health crisis...