If you need assistance, please call 818-268-3236

Powell Fine Homes Group Blog

Wednesday, May 5, 2021   /   by Kirsten Powell

Are Interest Rates Expected to Rise Over the New Year?

So far this year, mortgage rates continue to hover around 3%, encouraging many hopeful homebuyers to enter the housing market. However, there’s a good chance rates will increase later this year and going into 2022, ultimately making it more expensive to borrow money for a home loan. Here’s a look at what several experts have to say.
Danielle Hale, Chief Economist, realtor.com:
“Our long-term view for mortgage rates in 2021 is higher. As the economic outlook strengthens, thanks to progress against coronavirus and vaccines plus a dose of stimulus from the government, this pushes up expectations for economic growth . . . .”
Lawrence Yun, Chief Economist, National Association of Realtors (NAR):
“In 2021, I think rates will be similar or modestly higher . . . mortgage rates will continue to be historically favorable.”
Freddie Mac:
“We forecast that mortgage rates will continue to rise through the end of n ...

Read More

Monday, May 3, 2021   /   by Kirsten Powell

Americans Find the Nonfinancial Benefits of Homeownership Most Valuable

Homeownership is a foundational part of the American Dream. As we look back on more than a year of sheltering in our homes, having a place of our own is more important than ever. While financial benefits are always a key aspect of homeownership, today, homeowners rank the nonfinancial and personal benefits with even higher value.
Recently, two national surveys revealed the reasons homeownership is such an important part of life. The top three personal benefits of homeownership noted by respondents in Unison’s 2021 report on The State of the American Homeowner are:
91% - feel secure, stable, or successful owning a home
70% - feel emotionally attached to the homes that have kept them safe over the past year
51% - call homeownership a "key part of their life”
These sentiments were supported by the most recent National Housing Survey from Fannie Mae, which also shows that the top three reasons Americans value homeowners ...

Read More

Friday, April 30, 2021   /   by Kirsten Powell

Should I Buy Now or Wait? [INFOGRAPHIC]

Some Highlights
If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again.
Mortgage interest rates are currently very low, but experts across the board are forecasting increases in both home prices and interest rates.
Buying a home now means you’ll spend less in the long run. Let’s connect to put your homebuying plans in motion before home prices and mortgage rates climb even higher.

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for ...

Read More

Wednesday, April 28, 2021   /   by Kirsten Powell

Patience Is the Key to Buying a Home This Year

The question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale.
Low inventory in the housing market isn’t new, but it’s becoming more challenging to navigate. Danielle Hale, Chief Economist at realtor.com, explains:
“The housing market is still relatively under supplied, and buyers can’t buy what’s not for sale. Relative to what we saw in 2017 to 2019, March 2021 was still roughly 117,000 new listings lower, adding to the pre-existing early-year gap of more than 200,000 fresh listings that would typically have come to market in January or February. Despite this week ...

Read More

Monday, August 12, 2019   /   by Kirsten Powell

American Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions.
Great News! The index reached its highest level since Fannie Mae began their survey. Breaking it down, the report revealed:
The share of Americans who say it is a good time to buy a home increased from the same time last year.
The share of those who say it is a good time to sell a home increased from the same time last year.
The share of Americans who say they are not concerned about losing their job over the next 12 months increased dramatically (16 percentage points) from the same time last year.
The share of Americans who say mortgage rates wi ...

Read More

Powell Fine Homes Group
Kirsten Powell
30700 Russell Ranch Road, Suite 200
Westlake Village, CA 91362
818-268-3236
DRE #01783549

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals
Based on information from CRISNet MLS as of May 7, 2021 4 AM. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.”
This site powered by CINC: www.cincpro.com