Hartman Real Estate Team

The housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest rates are a driving factor in this continued momentum, with average rates hovering at historic all-time lows. NAR also just reported that the actual number of homes currently for sale stands at 1.28 million, down 22% from one year ago (1.64 million). Additionally, inventory is at an all-time low with 2.3 months supply available at the current sales pace. In a normal market, that number would be 6.0 months of inventory significantly higher than it is today. Reach out to the Hartman Real Estate Team today to get started.

Lots of Predictions; but I think the following industry experts are worth listening to: Michael Sklarz, President at Collateral Analytics: We may very well see a meaningful increase in the number of homes listed for sale as these borrowers choose to sell at what is arguably an intermediate top in the market and downsize to more affordable homes rather than face foreclosure.... Odeta Kushi, Deputy Chief Economist at First American: The foreclosure process is based on two steps. First, the homeowner suffers an adverse economic shockleading to the homeowner becoming delinquent on their mortgage. However, delinquency by itself is not enough to send a mortgage into foreclosure. With enough equity, a homeowner has the option of selling their home, or tapping into their equity through a refinance, to help weather the economic shock. It is a lack of sufficient equity, the second component of the dual trigger, that causes a serious delinquency to become a foreclosure. Don Layton, Senior Industry Fellow at the Joint Center for Housing Studies of Harvard University: With a greater cushion of equity, troubled homeowners have dramatically improved options: a greater ability to access funding (e.g. home equity lines) to keep paying monthly expenses until family finances might recover, improved ability to qualify for and support a loan modification, and, if push comes to shove, the ability to sell the home and monetize their increased net worth while reducing monthly payment obligations. So, what should lenders and servicers expect: a large number of foreclosures or only a modest increase? I believe the latter.

Here are 4 reasons people are reconsidering where they live and why they’re expecting to buy a home this year. Take a minute and read through the article. 1. Record-Low Mortgage Interest Rates 2. Working from Home... 3. More Outdoor Space 4. Avoiding Renovations

2021 Home Appreciation Forecasts are predicting an average (3.9% of all forecasts) NAR: 6% Zelman: 6% Realtor.com: 5.7% Freddie Mac: 2.6%... Corelogic: 2.5% Fannie Mae: 2.1% MBA: 2% See more

There is certainly a temptation to want to list your house on your own. However, there are so many potential land mines that it is always better to list with a Real Estate Professional. Contrary to popular belief it is actually less intrusive and more planned and scheduled to list with an Agent vs. sell your home by yourself. Reach out to the Hartman Real Estate Team today and we will guide you through the process.