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Over the next five years, home prices are expected to appreciate 3.64% per year on average and to grow by 18.4% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey. So, what does this mean for homeowners and their equity position? As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years? Since the experts predict that home prices will increase by 5.0% this year alone, the young homeowners will have gained $12,500 in equity in justRead More →

There are some homeowners who are patiently waiting to get the price they hoped for when they originally listed their houses for sale. Something these homeowners might want to take into consideration is the fact that if their homes haven’t sold yet, maybe they’re not priced properly. After all, 14,904 houses sold yesterday, 14,904 will sell today, and 14,904 will sell tomorrow. 14,904! This is the average number of homes that sell each and every day in this country, according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. NAR reported that sales are at an annual rate of 5.44 million. Divide that number byRead More →

Some Highlights: Hiring a real estate professional to buy your dream home, or sell your current house, is one of the most ‘educated’ decisions you can make! A real estate professional has the experience needed to help you through the entire process. Make sure that you hire someone who knows current market conditions & can simply and effectively explain them to you and your family! Source: Housing Market & Real Estate News Lenora LostaunauLenora is a full-service San Diego real estate agent, serving residents county-wide, and those looking to live in San Diego. She specializing in Metro and Coastal San Diego, with a Masters Degree inRead More →

Your children have finally moved out and you and your spouse now live alone in a four-bedroom colonial (or a similar type of house). You have two choices to make: Remodel your house to fit your current lifestyle and needs Sell your house and purchase the perfect home Based on the record of dollars spent on remodeling and renovations, it appears that many homeowners are deciding on number one. But, is that the best long-term solution? If you currently live in a 3-4-bedroom home, you probably bought it at a time when your children were the major consideration in determining family housing needs. Along withRead More →

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high. Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out, “Defaults on recent low down payment loans, so far, are slow, but that is as much a factorRead More →

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. The results of their latest survey: Home values will appreciate by 5.0% over the course of 2017, 4.0% in 2018, 3.2% in 2019, 3.0% in 2020, and 3.0% in 2021. That means the average annual appreciation will beRead More →