Raleigh Real Estate BlogRecently posted or modified blog posts by tag - HousingMarkethttps://www.wardsworthgroup.com/blog/Copyright WardsworthGroup.com2024-03-26T06:29:06-07:00tag:wardsworthgroup.com,2012-09-20:18980Searching for Franklin County gems under $300,000?
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2024-03-26T06:26:33-07:002024-03-26T06:29:06-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18978Need a spacious abode in the Triangle? Explore our listings for 4+ bedroom homes!
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2024-03-26T06:20:11-07:002024-03-26T06:22:43-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18976Hunting for new construction homes in Cary, Apex, & Holly Springs?
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2024-03-25T06:14:00-07:002024-03-26T06:16:41-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18967Explore a variety of options and discover the perfect space to elevate your living experience.
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2024-03-20T12:15:00-07:002024-03-25T12:18:11-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18887Double the space, triple the options!
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2024-03-06T11:56:00-07:002024-03-11T10:58:55-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18885our dream home is just a click away! Explore our listings for Homes Under $200,000
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2024-03-05T11:49:00-07:002024-03-11T10:52:27-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18793#HitUsUp to find out your home's value! You could be holding onto some serious equity.
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2024-02-24T09:23:00-07:002024-02-26T09:27:04-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18766Ready to find your perfect home in Franklin County for under $300,000? Look no further!
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2024-02-16T08:33:00-07:002024-02-21T08:36:13-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18725Big cheers to Mrs. Karen Peppers (@buywithkaren) for locking in this home #underContract in #FranklintonNC
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2024-02-13T09:49:00-07:002024-02-14T09:51:43-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18721Tomorrow's the big day! Come join us for an informative Homebuyers Seminar at Wendell Falls!
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2024-02-10T09:31:00-07:002024-02-14T09:34:31-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18664Setting our sights on townhomes in the Triangle! Explore your options and find the perfect townhome for your lifestyle.
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2024-02-03T07:41:00-07:002024-02-06T07:44:47-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18658Dreaming of a basement home in the Triangle?
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2024-02-02T07:31:00-07:002024-02-06T07:34:34-07:00Nico Roquetag:wardsworthgroup.com,2012-09-20:18614Dive into luxury living! Explore stunning homes in the Triangle with refreshing pools. Your dream home awaits!
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2024-02-01T11:59:28-07:002024-02-01T12:02:28-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18609Seize the moment and dive into homeownership!
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2024-01-29T11:37:00-07:002024-02-01T11:41:20-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18605Embrace the vibrant 55+ community life in Wake County! Explore your options and find the perfect home
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2024-01-27T11:19:00-07:002024-02-01T11:21:09-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18547Unlock the door to affordable living! Explore Triangle Homes under $250,000 and discover your perfect match.
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2024-01-23T12:39:00-07:002024-01-25T12:42:18-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18544Uncover the essence of a new beginning in Raleigh's new constructions under $500,000.
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2024-01-20T12:29:00-07:002024-01-25T12:31:51-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18540Feeling fancy? Check out our cool luxury homes in #Raleigh and find your perfect match!
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2024-01-19T12:10:00-07:002024-01-25T12:13:30-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18535Ready to turn your real estate dreams into reality?
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2024-01-13T11:48:00-07:002024-01-25T11:52:16-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18530When is the right time to buy? http://WWW.TWGGETTINGSTARTED.COM
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2024-01-08T10:30:00-07:002024-01-25T11:25:11-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18388Kickstart your homeownership journey with expert tips and insights. From navigating the real estate market to securing financing, we've got you covered.
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2023-12-28T08:51:00-07:002024-01-03T08:53:49-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18364Yet another home successfully SOLD & CLOSED in #Middlesex!
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2023-12-27T10:56:44-07:002023-12-27T10:59:40-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18361Discover your perfect townhome in #Durham! Ready to claim it as yours? Get in touch!
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2023-12-25T10:40:00-07:002023-12-27T10:46:44-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18299Explore the charm of Olive Grove Townhomes! Discover the perfect blend of comfort and style in #Durham.
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2023-12-15T12:27:40-07:002023-12-15T12:32:31-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18298Congratulations Julissa on your #NewFoundHome!
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2023-12-14T12:22:00-07:002023-12-15T12:26:30-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18282Pull out funds, and seize opportunities to invest in more real estate!
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2023-12-12T11:21:18-07:002023-12-12T11:26:52-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18272Discover how our client successfully upgraded to a beautiful single-family detached home in just 3 years! Let their inspiring story show you that your dream home is within reach.
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2023-12-11T09:30:42-07:002023-12-11T09:33:21-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18269Ready to find your dream home? Holla at us!
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2023-12-07T09:16:00-07:002023-12-11T09:19:53-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18240Brace yourselves! Interest rates are on a downward spiral, and the housing market is about to go wild!
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2023-12-05T08:23:46-07:002023-12-05T08:29:18-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18156Throwing it back to the awesome Parade of Homes with Dream Finder Homes (formerly H&H Homes)
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2023-11-17T13:16:00-07:002023-11-20T13:20:57-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18133The most important question you can ask yourself is: what do I really want?
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2023-11-14T10:39:00-07:002023-11-14T10:41:43-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18131 Thinking about your first home? Let's chat about how to avoid those 3 common oopsies first-time buyers often run into.
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2023-11-12T10:30:00-07:002023-11-14T10:33:27-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18089 Welcome to your "Home Sweet Home" in #Durham Lakisha, we're thrilled for this exciting new chapter in your life!
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2023-11-05T09:37:00-07:002023-11-06T09:40:24-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18087Are you looking to buy a new home or curious about the home-buying process? We've got you covered!!
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2023-11-03T08:29:00-07:002023-11-06T09:32:38-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:18086Let's rewind and take you back in time to the Southern Ideal
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2023-11-03T08:24:00-07:002023-11-06T09:28:26-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:17860Ever wondered how to pay off your house in just 5 years?
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2023-09-11T09:59:00-07:002023-09-26T10:03:27-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:17673Ready to unlock the door to your homeownership dreams?
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2023-08-29T13:11:00-07:002023-08-30T13:13:36-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:17599Ready to rock your 20s with savvy real estate investments?
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2023-08-22T09:05:00-07:002023-08-25T09:08:57-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:17593Here's the definition of Mrs. Karen Peppers (IG: @buywithkaren) of Appraisal Addendum, watch the video to learn more!
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2023-08-14T08:34:00-07:002023-08-25T08:39:10-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:16597Work with a Realtor who can guide you through the home buying and/or selling process
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2023-05-29T12:13:00-07:002023-06-06T08:35:29-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:16417New listing alert! Just listed this stunning 3BR end-unit townhome in #Raleigh!
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2023-04-10T15:43:00-07:002023-05-05T15:50:26-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:16156Get a Free Market Analysis for Your Home's Estimated Value
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2023-03-05T17:10:00-07:002023-04-04T04:23:51-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:14580Real Estate Talk with Kameela - Triangle Market Update 2022-09-14T10:08:00-07:002022-11-08T16:42:19-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:14510We are having a Home Buyer Seminar Tomorrow!2022-09-09T17:48:00-07:002022-09-09T17:50:01-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:14460Home Buyers Seminar - 10th September 2022
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2022-09-05T16:02:00-07:002022-09-06T16:58:51-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:14458Kameela Wardsworth for Closing this Home
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2022-09-05T15:53:00-07:002022-09-05T15:57:12-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:14453 In-Person Home Buyers Seminar
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2022-09-02T17:16:00-07:002022-09-02T17:18:37-07:00The Wardsworth Grouptag:wardsworthgroup.com,2012-09-20:13549Easy Tips for Buyers When Navigating a Hot Real Estate MarketWell, it's no secret that we are in a very HOT market right now AND we know that has generated a lot of fear for those wanting to jump in. However, here are some tips to help ease those feelings and make your process easier.
Editoral Credit: <a href="https://www.nerdwallet.com/article/mortgages/navigating-hot-housing-market">Kate Wood</a>
What is a "hot market"? A hot real estate market exists when home inventory is low creating high competition and you feel like you're on an emotional rollercoaster.
That said, the first thing you should do is arm yourself with a base knowledge of the buying process. We recommend a Home Buyer Seminar. You can register for one <a href="http://www.twggettingstarted.com">here</a>.
Now, on to the tips!
1. SCROLL: Spend some time looking at what’s available
The idea is to get a sense about the kinds of homes and neighborhoods you like (or don’t), and which features matter to you.
2. Find a good real estate agent
Having a buyer's agent is particularly important as you will want someone who’ll alert you to listings as soon as they hit the market, if not before. Also, an agent will know how to make your offer stand out.
3. Expect to compromise
Holding out for the "perfect" home may not be an option in a hot market. It is a smarter approach to think of ways you could make a "good enough" home meet your needs. Flexible expectations can give you more options.
4. Have your financing in order
A preapproval shows sellers that you're serious. Therefore, you want to compare mortgage rates from several lenders, and get a<a class="_2GMChG eIBHSv _23_Bjp _2zmeFA" href="https://www.nerdwallet.com/blog/mortgages/mortgage-pre-approval/" data-currency="Link" target="_self"> </a>mortgage preapproval from two or three lenders. Options are key!
5. Sweeten your offer
Waive contingencies, offer a seller rent-back, and a quick close are just a few. Keep in mind each situation is different and may require a specific strategy, so please ask your agent about other possibilities.
6. Be patient
Keep calm and maintain a level head to prevent buyer remorse. If you start to feel fatigued talk with your agent. Make sure they understand how you feel and update them if you would like to switch things up in order to find your home.
2022-05-07T11:00:00-07:002022-05-07T10:15:20-07:00Adrienne Wilsontag:wardsworthgroup.com,2012-09-20:13424Waiting on the Housing Market to Crash? Experts Say, Don’t!Have you been debating whether the time to buy your new or next home is now? Are you hoping that if you wait you'll get the deal of a lifetime? Or better yet, expecting a housing bubble?
If this is you, please read on to see what the experts at NextAdvisor have to say. If you feel differently, leave us a comment to begin an open dialogue on the matter. Happy Reading!
<a href="https://time.com/nextadvisor/mortgages/mortgage-news/dont-wait-to-buy-a-home/" target="_blank">Editorial Credit: Jon Reed</a>
<a href="https://time.com/nextadvisor/mortgages/mortgage-news/sping-2022-housing-market-predictions/">Today’s market</a> differs significantly from what happened 15 years ago, when high home prices were instead driven by loose lending practices and rampant investor speculation in the market.
Waiting for the market to crash might not yield the results buyers hope for, experts say. “There’s not really any room for there to be a bubble right now. It’s not like people have borrowed too much and it’s not like homes are overvalued,” says <a href="https://www.redfin.com/news/author/darylfairweather/" target="_blank" rel="noreferrer noopener">Daryl Fairweather</a>, chief economist at Redfin.
There are a lot of reasons why it seems like we are in a bubble, but at its heart, the issue is simple: supply and demand are driving up prices. “It’s just that there aren’t enough homes for everybody who wants one,” says Fairweather.
Here’s what is different about today’s market and what buyers can do to navigate the process.
Things Have Changed Since 2006
The current market and that of the mid-2000s share some similarities. Namely, housing prices were up and often unaffordable for buyers. The causes are different, experts say.
The previous bubble came after a period in which lenders were more lax about writing loans and more people were in the housing market as an investment rather than to buy a home to live in. “Mortgage underwriting was considerably more loose back in 2006,” says <a href="https://www.nahb.org/Taxonomy/Content-Types/Speaker/Robert-Dietz" target="_blank" rel="noreferrer noopener">Robert Dietz</a>, chief economist at the National Association of Home Builders. “It was easier to get a mortgage to speculate in the housing market. That is not the case today.”
Different home loans, such as adjustable-rate mortgages with big “balloon payments” due at the end of the term, meant people got into homes thinking they could afford the payments, finding out later that their payments grew dramatically to unaffordable levels, Fairweather says. “There was a lot of financial engineering, there was a lot of predatory lending, there was a lot of bad borrowing on people not having a lot of equity, not having as much of a cushion, that led to the housing bubble,” she said.
Those types of loans are far less common today, and there is more oversight of home lending in the wake of the crisis of the late 2000s, experts say. Today, most borrowers get <a href="https://time.com/nextadvisor/mortgages/30-year-mortgage-rates/">30-year fixed-rate mortgages</a>, which don’t come with the risk of payments suddenly rising dramatically as rates increase, Fairweather says. “If you own a home, you’re still paying what you paid when you got your fixed-rate mortgage.”
When Will the Housing Market Calm Down?
It will likely take a while before the inventory of available homes matches up with demand. <a href="https://www.zillow.com/research/zhpe-q1-2022-inventory-returns-30878/" target="_blank" rel="noreferrer noopener">Experts surveyed by Zillow predicted</a> it’ll be two years before monthly inventory returns to pre-pandemic norms. They estimated it could be 2024 or 2025 before the portion of first-time buyers again reaches the 45% seen in 2019.
<a href="https://time.com/nextadvisor/mortgages/monthly-mortgage-forecast-and-predictions/">Rising mortgage rates</a> – they’ve gone from near 3.3% at the start of the year to near 5% in just three months – will likely take some buyers out of the market and slow the rise of home prices. “It should weaken demand, but there’s so much demand it’s hard to say how much it will really impact things like sales and home prices,” Fairweather says.
Higher mortgage rates might not directly lead to lower prices – supply and demand will still be the big factors – but it could make life a little bit easier for buyers, Dietz says. “The bidding wars are going to cool off.”
The factors driving up prices aren’t likely to subside anytime soon, Dietz says. “I don’t think buyers should be betting on any really significant price declines. If anything, as interest rates move higher, the cost of buying a home is going to go up.”
What Can Homebuyers Do In This Market
As Redfin’s survey found, many buyers think the market is in a bubble right now, and they might be tempted to wait for it to burst, some economic cataclysm that suddenly makes a house affordable. Experts caution against hoping for that.
“I think you want to be strategic and you want to be patient,” Dietz says. “Patient is different from waiting for a crash.”
Buyers will have to look harder and widen their search, he says. There are ways to get creative: If your work is hybrid and you only have to go to an office two or three times a week, reconsider your commute and think about it on a weekly basis rather than as a daily burden. That means you could look farther away from work where housing is sometimes cheaper.
You can also consider other options, Dietz says. One is to look at new construction if you haven’t already. Keep in mind there is a longer lag time than usual, but it could be easier than competing for scarce existing homes with the mob of other potential buyers (and investors and flippers with cash offers). There are also options other than the usual single-family home, such as townhouses.
Any slowdown caused by higher mortgage rates will make the market a little easier for buyers who are patient, Fairweather says. “By end of summer there should be more homes on the market as not as many buyers will be taking them off the market,” she says.
The market could be in for a shift this year as it copes with higher mortgage rates, Fairweather says. You may want to slow down and consider your options. “I don’t think it’s wise to try to rush the market now because right now the market is adjusting,” she says.2022-04-19T17:30:00-07:002022-04-19T17:17:32-07:00Adrienne Wilsontag:wardsworthgroup.com,2012-09-20:12351Median home sales reaches all time high at $405,000 in Wake CountyThe Wake County Register of Deeds released a market update yesterday afternoon regarding home prices. As of November 2021 we reached over $791 million in sales in Wake County. This is a $582 million increase from October’s transactions of roughly $209 million. Currently, apartment/townhome multifamily activity is still on a positive trend.
The median sales price of a parcel of Wake County real estate was $405,000 for the month of November 2021, setting another new record high. This is a $6,500 increase from October 2021’s price of $398,500. November 2021’s median price is $76,250 above January 2021’s median price of $328,750.
That said, now is the time to get in where you fit in! <a href="http://www.dashhomeloans.com" target="_blank">Get approved today</a>
Let's go! <img src="/res/tiny_mce/plugins/emotions/img/smiley-laughing.gif" alt="Laughing" title="Laughing" border="0" />
To check out the full article click <a href="https://preview.mailerlite.com/c4f5x9/1837947821714576499/i9n0/" target="_blank">here</a>.<br />2021-12-11T13:30:00-07:002021-12-11T13:20:41-07:00Adrienne Wilson