Sally Moore

Are We in a Housing Bubble? Experts Say No. The Joint Center for Housing Studies: conditions today are quite different than in the early 2000s, particularly in terms of credit availability. The current climb in house prices instead reflects strong demand amid tight supply, helped along by record-low interest rates.... Nathaniel Karp, Chief U.S. Economist at BBVA: The housing market is in line with fundamentals as interest rates are attractive and incomes are high due to fiscal stimulus, making debt servicing relatively affordable and allowing buyers to qualify for larger mortgages. Underwriting standards are still strong, so there is little risk of a bubble developing. Bill McBride of Calculated Risk: It’s not clear at all to me that things are going to slow down significantly in the near future. In 2005, I had a strong sense that the hot market would turn and that, when it turned... #realestate #homeownership #homebuying #realestategoals

What To Expect as Appraisal Gaps Grow In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR). Shawn Telford, Chief Appraiser at CoreLogic, elaborates: The frequency of buyers being willing to pay more than the market data supports is increasing.... While this is great news for today’s sellers, it can be tricky to navigate if the price of your contract doesn’t match up with the appraisal for the house. It’s called an appraisal gap, and it’s happening more in today’s market than the norm. According to recent data from CoreLogic, 19% of homes had their appraised value come in below the contract price in April of this year. That’s more than double the percentage in each of the two previous Aprils. If an... #expertanswers #stayinformed #staycurrent

Help us wish Chris Jackson, one of our buyers agents, a Happy Birthday!!! We hope you a great day