Housing Market Updates | The Paradigm Realty Group

How Much Leverage Do Today’s House Sellers Have?

For Sellers, Housing Market Updates, Move-Up Buyers, New Construction, Pricing, Selling Myths / Ajeenah Crittendon

$\"How$ The housing market has been scorching hot over the last twelve months. Buyers and their high demand have far outnumbered sellers and a short supply of houses. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), sales are up 23.7% from the same time last year while the inventory […]

How Much Leverage Do Today’s House Sellers Have? Read More »

The Reason Mortgage Rates Are Projected to Increase and What It Means for You

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers / Ajeenah Crittendon

$\"The$ We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low […]

The Reason Mortgage Rates Are Projected to Increase and What It Means for You Read More »

Where Have All the Houses Gone?

For Buyers, For Sellers, Housing Market Updates, Pricing, Selling Myths / Ajeenah Crittendon

$\"Where$ In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage […]

Where Have All the Houses Gone? Read More »

Will Low Mortgage Rates Continue through 2021?

First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers / Ajeenah Crittendon

$\"Will$ 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 […]

Will Low Mortgage Rates Continue through 2021? Read More »

47% of New Buyers Surprised by How Affordable Homes Are Today

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers, Pricing / Ajeenah Crittendon

$\"47%$ 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 […]

47% of New Buyers Surprised by How Affordable Homes Are Today Read More »

The Luxury Market Is Attracting Buyers in 2021

For Buyers, Housing Market Updates, Interest Rates, Luxury Market, Move-Up Buyers / Ajeenah Crittendon

$\"The$ As more people continue to identify their changing needs this year, some are turning to the upscale housing sector for more space or finer features. In their most recent Luxury Market Report, the Institute for Luxury Home Marketing (ILHM) shares: “In a snapshot of 2020, despite the devasting effects of the coronavirus pandemic, the luxury […]

The Luxury Market Is Attracting Buyers in 2021 Read More »

3 Reasons We’re Definitely Not in a Housing Bubble

Buying Myths, Distressed Properties, For Buyers, For Sellers, Foreclosures, Housing Market Updates, Interest Rates, Pricing, Selling Myths / Ajeenah Crittendon

$\"3$ Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different. 1. […]

3 Reasons We’re Definitely Not in a Housing Bubble Read More »

Want to Build Wealth? Buy a Home This Year.

Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Move-Up Buyers, Pricing / Ajeenah Crittendon

$\"Want$ Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these […]

Want to Build Wealth? Buy a Home This Year. Read More »

What Record-Low Housing Inventory Means for You

For Buyers, For Sellers, Housing Market Updates, Interest Rates / Ajeenah Crittendon

$\"What$ 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) […]

What Record-Low Housing Inventory Means for You Read More »

What Happens When Homeowners Leave Their Forbearance Plans?

Distressed Properties, For Buyers, For Sellers, Foreclosures, Housing Market Updates / Ajeenah Crittendon

$\"What$ According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 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 […]

What Happens When Homeowners Leave Their Forbearance Plans? Read More »