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[jessejamesla]

With mortgage interest rates hitting record lows so many times recently, some are wondering if we’ll see low rates continue throughout 2021, or if they’ll start to rise. Recently, Freddie Mac released their quarterly forecast, noting, “The average 30-year fixed-rate mortgage hit a record low over a dozen times in 2020 and the low interest rate environment is projected to continue through this year. We expect interest rates to average below 3% through the end of 2021. While this is a modest rise from 2020 averages, the recent vote by the Federal Reserve to keep interest rates anchored near zero should keep rates low.” Freddie Mac is projecting low rates going forward with a modest rise that’s expected to continue through 2022, but Freddie Mac isn’t the only authority forecasting low rates with a slight rise. Fannie Mae, The Mortgage Bankers Association (MBA), and the National Association of Realtors (NAR) also anticipate low rates with a small increase as 2021 continues on. It’s important to note that, while a small change in interest rates can have a substantial impact on monthly mortgage payments, these rates are still incredibly low compared to where they were just a couple of years ago. Low mortgage rates are creating an outstanding opportunity for current homebuyers to get more for their money while staying within their budget. As the economy gets stronger and we recover from the challenges of 2020, it’s natural for rates to potentially rise in response to a healthier economy. With low rates fueling activity among hopeful buyers, there are a lot of people who are highly motivated and looking for homes to purchase right now. In this environment, it can be challenging to find a home to buy, so a local real estate agent will be key to your success if you’re thinking of buying too. Working with a trusted real estate professional to navigate the process while rates are in your favor might be the best move you can make. #expertanswers #purchasingpower #buyingpower #mortgagerates #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLddqa-rNyj/?igshid=1s8lya0bebi4o

[jessejamesla]

What is 𝙈𝙤𝙣𝙩𝙝𝙨 𝙨𝙪𝙥𝙥𝙡𝙮 𝙤𝙛 𝙝𝙤𝙢𝙚𝙨❓ It refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. "Total housing inventory at the end of December totaled 1.07 million units, down 6.4% from November. And down 23% from a year ago" Unsold inventory sits at an all-time low of 1.9-month supply. So, what are they saying? Going all the way back to 1982, we’re at the lowest point since we’ve tracked active inventory. To put real numbers to this, there are about 320,000 less homes on the market today than there were at this time a year ago‼️ 𝘛𝘩𝘪𝘴 𝘪𝘴 𝘦𝘹𝘢𝘤𝘵𝘭𝘺 𝘸𝘩𝘺 𝘉𝘜𝘠𝘌𝘙𝘚 𝘢𝘳𝘦 𝘩𝘢𝘷𝘦𝘭𝘰𝘤𝘬 𝘴𝘶𝘤𝘩 𝘢 𝘵𝘰𝘶𝘨𝘩 𝘵𝘪𝘮𝘦 𝘳𝘪𝘨𝘩𝘵 𝘯𝘰𝘸, 𝘢𝘯𝘥 𝘚𝘌𝘓𝘓𝘌𝘙𝘚 𝘢𝘳𝘦 𝘳𝘦𝘢𝘱𝘪𝘯𝘨 𝘩𝘶𝘨𝘦 𝘳𝘦𝘸𝘢𝘳𝘥𝘴 ☹ - 😁 (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLW7OfuLnGI/?igshid=132wmcr1hj21f

[jessejamesla]

Here are 3️⃣ reasons why becoming a homeowner now may help you win big in the long run. 1. Buying a Home Is a Great Investment Several recent reports indicate that real estate is still a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps you build equity, a type of forced savings that grows your net worth. According to the latest Equity Report from ATTOM Data Solutions, as of the fourth quarter of 2020, 7.8 million residential properties in the United States are considered equity rich. Put more simply, these homeowners have more home equity than mortgage debt. If you want to start building your equity, put your housing costs to work for you through homeownership this year. 2. Mortgage Interest Rates Are Low The Primary Mortgage Market Survey from Freddie Mac indicates interest rates for a 30-year mortgage have fallen since November 2018 when they hit 4.94%. In their latest forecast, Freddie Mac expects rates to remain low, leveling out to an average of 2.9% in 2021. When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to likely get more house for your money. 3. Investing in Your Future Pays Off There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. What many renters don’t realize, though, is the financial power of equity. As a homeowner, your monthly mortgage payment becomes a form of ‘forced savings’ you can reinvest later in life as you see fit. You can use it in a variety of ways, like to fund a loved one’s education, move up to a bigger home, or start your own business. As a renter, you’re actually growing your landlord’s equity instead of your own. Buying a home sooner rather than later could lead to substantial savings and long-term financial growth. Reach out to a local real estate professional to determine if homeownership is the right choice for you this year. #homeownership #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #YourbestshotinRealEstate (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLU3flZryf1/?igshid=2sh33lth8oxj

[jessejamesla]

𝗔𝗿𝗲 𝗵𝗼𝗺𝗲𝘀 𝘂𝗻𝗮𝗳𝗳𝗼𝗿𝗱𝗮𝗯𝗹𝗲?🤔 Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how homebuyers perceive the market. In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu, Senior Economist at realtor.com, explains, "For first-time buyers, especially, the drop in the 30-year mortgage rate…has provided unexpected leverage. Lower rates allowed many buyers to stretch and buy more expensive homes while keeping their monthly budget the same." So why do these negative headlines that cast doubt on affordability continue to exist? Most pundits only look at two of the three elements that make up the affordability equation: price and income. It’s true that incomes haven’t kept up with the price of houses, but affordability is about the cost of the home, not just the price. For that reason, mortgage rates, the third element of the affordability equation, are important to consider. Outside of the housing crash (when short sales and foreclosures drove prices down), it’s more affordable to buy a home today when you consider all three elements of the affordability equation: price, income, and mortgage rate. Whether you’re a first-time buyer or a move-up buyer, don’t let the headlines scare you away from your dream of homeownership. Instead, connect with mortgage and real estate professionals to determine what you can afford and what’s available at that price. You may be pleasantly surprised. #expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #real (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLK_An_rncq/?igshid=u990jcixcbpo

[jessejamesla]

☝ This time, housing supply is extremely limited In real estate, supply and demand is measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in which prices normally appreciate. Between 2006 and 2008, the months’ supply of inventory increased from just over 5 months to 11 months. Months’ inventory has been under 5 months for the last 3 years and currently stands at 1.9 months – a historic low. Remember, if supply is low and demand is high, prices naturally increase. ✌ This time, housing demand is real During the housing boom in the mid-2000s, people got caught up in the frenzy and bought houses based on an unrealistic belief that housing values would continue to escalate. In the current real estate market, demand is real, not fabricated. The desire to own, coupled with historically low mortgage rates, makes purchasing a home today a strong, sound financial decision. Remember, if supply is low and demand is high, prices naturally increase. 🖖This time, households have plenty of equity During the housing boom, homeowners started using their homes like ATM machines. As prices began to drop, some homeowners found themselves in a negative equity situation where the mortgage was higher than the value of their home. Many defaulted on their payments, which led to an avalanche of foreclosures. Today, the banks and the American people have shown they learned a valuable lesson from the housing crisis a little over a decade ago. Cash-out refinance volume over the last three years was less than a third of what it was compared to the 3 years leading up to the crash. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvic (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLHlgSpra71/?igshid=wm9yf8v741rc

[jessejamesla]

Today, 65.8% of Americans are fortunate enough to call their homes their own. Below are some highlights and quotes on the benefits of homeownership shared by the National Association of Realtors (NAR). From feel-good motivations to economic and social impacts on the local community, these items may give you reason to believe homeownership stretches well beyond your financial investment. Non-Financial Benefits Owning a home brings a sense of happiness, satisfaction, and pride. >>Pride of Ownership: “The personal satisfaction and sense of accomplishment achieved through homeownership can enhance psychological health, happiness and well-being for homeowners and those around them.” >>Civic Participation: Homeownership creates stability, a sense of community, and increases civic engagement. It’s a way to add to the strength of your local area and drive value into your neighborhood. Financial Benefits Buying a home is also an investment in your financial future. >>Net Worth: Homeownership builds your net worth. Today, the median household net worth of all homeowners is $254,900, while the median net worth of renters is only $6,270. >>Financial Security: Equity, appreciation, and more predictable monthly housing expenses are huge financial benefits of owning a home. Economic Benefits Homeownership is even a local economic driver. >>Housing-Related Spending: An economic force throughout our nation, housing-related expenses accounted for more than one-sixth of the country’s economic activity over the past three decades. >>Entrepreneurship: “Owning a home enables new entrepreneurs to obtain access to credit to start or expand a business and generate new jobs by using their home as collateral for small business loans.” If owning a home is part of your dream this year, DM me to begin the homebuying process today. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CLC8wd_rcR-/?igshid=cflkl0cyfku3

[jessejamesla]

A real estate professional is an expert who can advocate on your behalf throughout the process when building a home. Agents help you understand key steps, like choosing upgrades and managing negotiations, while staying within your budget from start to finish. If building is the right choice for you, DM me so you can have a trusted real estate professional who can help you successfully navigate the path to your dream home. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #YourbestshotinRealEstate (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CK7GWDfL8Yi/?igshid=42dl67fxgtqc

[jessejamesla]

If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater financial security and savings. 1. You Won’t Always Have a Monthly Housing Payment As a homeowner, you can eventually eliminate the monthly payment you make on your house. As soon as you buy a home, your monthly housing costs begin to work for you as forced savings in the form of equity. When you build equity and grow your net worth, you can continue to reinvest those savings into your future, maybe even by buying that next dream home. The possibilities are truly endless. 2. Homeownership Is a Tax Break One thing people who have never owned a home don’t always think about are the tax advantages of homeownership. Whether you’re living in your first home or your fifth, it’s a huge financial advantage to have some tax relief tied to the interest you pay each year. It’s one thing you definitely don’t get when you’re renting. Be sure to work with a tax professional to get the best possible benefits on your annual return. 3. Monthly Housing Costs Are Predictable With a mortgage, you can keep your monthly housing costs relatively steady and predictable. Your monthly costs are most likely based on a fixed-rate mortgage, which allows you to budget your finances over a longer period of time. Rental prices have been skyrocketing since 2012, and with today’s low mortgage rates, it’s a great time to get more for your money when purchasing a home. If you’re ready to start feeling the benefits of stability, savings, and predictability that come with owning a home, DM me to determine if buying sooner rather than later is right for you. #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CK4CnakLfYL/?igshid=1dnc5ggdc35yt

[jessejamesla]

💡There are certain fundamentals that are key to building a strong foundation as you prepare to buy a home: save for a down payment, build your credit, and get pre-approved for a loan. Check out these to-do list tips and DM me for help setting your homebuying goals this year. #buyingahome #homebuyingtips #downpayment #buildcredit #preapproval #financialtips #homebuyinghowto #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #realestatetipsandadvice (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKx7psmr4Pm/?igshid=ai8xwmrnh1u3

[jessejamesla]

As we approach the anniversary of the hardships we’ve faced through this pandemic and the subsequent recession, it’s normal to wonder what’s ahead for 2021. It’s at times like these we want exact information about anything we’re doing. That information brings knowledge, and this gives us a sense of relief and comfort in uncertain times. If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible. Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to her office, she won’t immediately tell you how the case is going to end or how the judge or jury will rule. If she could, that would be perfect advice. What a good attorney can do, however, is discuss with you the most effective strategies you can take. She’ll then leave you to make the decision. Once you decide, she can help you put a plan together. She’ll help you achieve the best possible resolution and make whatever modifications in the strategy are necessary. That’s an example of the best advice possible. The role of a real estate professional is just like the role of a lawyer. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen throughout the transaction – especially in this market. An agent can, however, give you the best advice possible based on the information and situation at hand, guiding you through the process to help you make the necessary adjustments and best decisions along the way. An agent will lead you to the best offer available. That’s exactly what you want and deserve. #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagenc (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKx3EibLv_Y/?igshid=12wmxn0nyyv14

[jessejamesla]

If you’re on the fence about selling your house, now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition. With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your house may really stand out from the crowd. DM me today to get your homebuying process underway‼️🏠 #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #lifeisbetterwhenyoumove #YourbestshotinRealEstate (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKogHVXrXBe/?igshid=mx7m14qh1vjv

[jessejamesla]

The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low. The report explains, “Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39 million). Unsold inventory sits at an all-time low 1.9-month supply at the current sales pace, down from 2.3 months in November and down from the 3.0-month figure recorded in December 2019. NAR first began tracking the single-family home supply in 1982.” What Does This Mean for You? If You’re a Buyer: Be patient during your home search. It may take time to find a home you love. Once you do, however, be ready to move forward quickly. Get pre-approved for a mortgage, be prepared to make a competitive offer from the start, and know that a shortage in inventory could mean you’ll enter a bidding war. Calculate just how far you’re willing to go to secure a home and lean on your real estate professional as an expert guide along the way. The good news is, more inventory is likely headed to the market soon, Lawrence Yun, Chief Economist at NAR, notes, "To their credit, homebuilders and construction companies have increased efforts to build, with housing starts hitting an annual rate of near 1.7 million in December, with more focus on single-family homes…However, it will take vigorous new home construction in 2021 and in 2022 to adequately furnish the market to properly meet the demand." If You’re a Seller: Realize that, in some ways, you’re in the driver’s seat. When there’s a shortage of an item at the same time there’s a strong demand for it, the seller is in a good position to negotiate the best possible terms. Whether it’s the price, moving date, possible repairs, or anything else, you’ll be able to request more from a potential purchaser at a time like this – (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKmOzB1LWF2/?igshid=glh8x5pyzir8

[jessejamesla]

According to the latest report from Black Knight, Inc., 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now: >>2,543,000 (39%) are current on their payments and have left the program >>625,000 (9%) have paid off their mortgages >>434,000 (7%) have negotiated a repayment plan and have left the program >>2,254,000 (35%) have extended their original forbearance plan >>512,000 (8%) are still in their original forbearance plan >>116,000 (2%) have left the program and are still behind on payments This shows that of the almost 3.72 million homeowners who have left the program, only 116,000 (2%) exited while they were still behind on their payments. There are still 2.77 million borrowers in a forbearance program. No one knows for sure how many of those will become foreclosures. There are, however, three major reasons why most experts believe there will not be a tsunami of foreclosures: >>Almost 30% of borrowers in forbearance are still current on their mortgage payments. >>Banks likely don’t want to repeat the mistakes of 2008-2012 when they put large numbers of foreclosures on their books. This time, many will instead negotiate a modification plan with the borrower, which will enable households to maintain ownership of the home. >>With the significant equity homeowners have today, many will be able to sell instead of going into foreclosure. Will there be foreclosures coming to the market? Yes. There are hundreds of thousands of foreclosures in this country each year. There will be more foreclosures entering the market later this year, especially compared to the record-low numbers in 2020. However, the market will be able to handle the increase as buyer demand remains strong. #realestate #forbearance #foreclosure #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #lifeisbetterwhenyoumove (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKjguaRrGQ7/?igshid=1hcyirns2fmmt

[jessejamesla]

𝗪𝗵𝗮𝘁’𝘀 𝘁𝗵𝗲 𝗗𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲 𝗯𝗲𝘁𝘄𝗲𝗲𝗻 𝗮𝗻 𝗔𝗽𝗽𝗿𝗮𝗶𝘀𝗮𝗹 𝗮𝗻𝗱 𝗮 𝗛𝗼𝗺𝗲 𝗜𝗻𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻? Home Appraisal The National Association of Realtors (NAR) explains, “A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more. However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. Home Inspection Here’s the key difference between an appraisal and an inspection. MSN explains, “In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.” The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. The appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Reach out to a local real estate professional today so you have the expert guidance you need to navigate through the entire homebuying process. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKhoBUAL1--/?igshid=a26cym4eqf0k

[jessejamesla]

Wᴀɴᴛ ᴛᴏ ɪᴍᴘʀᴏᴠᴇ ʏᴏᴜʀ ϙᴜᴀʟɪᴛʏ ᴏғ ʟɪғᴇ? ..... There’s logic behind the idea that making a move could improve someone’s quality of life. When people change their scenery, they often feel happier. Catherine Hartley, an Assistant Professor at New York University’s Department of Psychology and co-author of a study on how new experiences impact happiness, mentioned, “Our results suggest that people feel happier when they have more variety in their daily routines—when they go to novel places and have a wider array of experiences.” So, if you’re thinking of moving this year to help boost your happiness factor, here are a few questions to ask yourself as you make your decision. How’s the Weather? Is the weather something that’s important to you? Does it have a tendency to impact your mood? The World Population Review shares, “What states have the best weather? When evaluating each state for temperature, rain, and sun, some states stand out.” “Better weather” can mean different things to different people – some prefer the heat, others cooler temperatures, and some want to experience all four seasons. Think about what makes you feel happiest if you’re looking for a new location. Should I Choose the City, Suburbs, or Country? With the COVID-19 pandemic, some people are deciding to move to lower-density areas. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), mentions, “The third quarter Home Building Geography Index (HBGI) reveals that a suburban shift for consumer home buying preferences in the wake of the COVID-19 pandemic is accelerating as telecommuting is providing consumers more flexibility to live further out within large metros or even to relocate to more affordable, smaller metro areas.” As we look beyond the trials of the pandemic, many are hoping for a new beginning, and that may mean moving. DM me today to talk about your new goals and options in today’s market. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #inst (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKeu4BNr_Yu/?igshid=so1ygy4deeez

[jessejamesla]

📉Earlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy lost 140,000 jobs in December. That’s a devastating number and dramatically impacts those households that lost a source of income. However, we need to give it some context. Greg Ip, Chief Economics Commentator at the Wall Street Journal (WSJ), explains, “The economy is probably not slipping back into recession. The drop was induced by new restrictions on activity as the pandemic raged out of control. Leisure and hospitality, which includes restaurants, hotels, and amusement parks, tumbled 498,000.” Once the vaccine is distributed throughout the country and the pandemic is successfully under control, the vast majority of those 480,000 jobs will come back. However, some are concerned that with millions of Americans unemployed, we may see distressed properties (foreclosures and short sales) dominate the housing market once again. Rick Sharga, Executive Vice President at RealtyTrac, along with most other experts, doesn’t believe that will be the case. “There are reasons to be cautiously optimistic despite massive unemployment levels and uncertainty about government policies under the new Administration. But while anything is possible, it’s highly unlikely that we’ll see another foreclosure tsunami or housing market crash.” For the households that lost a wage earner, these are extremely difficult times. Hopefully, the new stimulus package will lessen some of their pain. The health crisis, however, should vastly improve by mid-year with expectations that the jobs market will also progress significantly. #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #YourbestshotinRealEstate (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKbnO7ULU4b/?igshid=hp7bk0wc1c7y

[jessejamesla]

If spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re not alone. You may be wondering, however, if the dollars and cents add up in your favor as home prices continue to rise. According to the experts, in many cases, it’s still more affordable to buy a home than rent one. Here’s why. ATTOM Data Solutions recently released the 2021 Rental Affordability Report, which states, “Owning a median-priced three-bedroom home is more affordable than renting a three-bedroom property in 572, or 63 percent of the 915 U.S. counties analyzed for the report. That has happened even though median home prices have increased more than average rents over the past year in 83 percent of those counties and have risen more than wages in almost two-thirds of the nation.” How is this possible? The answer: historically low mortgage interest rates. Todd Teta, Chief Product Officer with ATTOM Data Solutions, explains, “Home-prices are rising faster than rents and wages in a majority of the country. Yet, home ownership is still more affordable, as amazingly low mortgage rates that dropped below 3 percent are helping to keep the cost of rising home prices in check.” In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. If you’re considering buying a home this year, DM me today to learn more about the options that match your budget while affordability is in your favor. #expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters (at Jesse James - "Your best shot in Real Estate") https://www.instagram.com/p/CKRuEKoLXo_/?igshid=1b6to9x450ajl