What Buyers and Sellers Need to Know about the Appraisal Gap

It’s economy 101 – when supply is low and demand is high, prices naturally rise. That is the simple principle that accounts for today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below …

How Upset Should you be about 3% Mortgage Rates?

Last Thursday, Freddie Mac announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: 1. The bump-up in rate should …

#1 Reason NOT to Wait to List your House for Sale

The #1 Reason Not to Wait to List Your House for Sale Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is NOT one of them. Mark Fleming, Chief Economist for First American, just reported: “Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity …