ceo-stories

  When you think of homeownership, what’s the first thing that comes to mind? States  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott.   Chances are you might focus on the   non-financial benefits  like the security or stability home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters.  For a homeowner, your equity is the current value of your home minus what you owe on the loan.  So, as  home values climb , your equity does too. That’s exactly what’s happening today. There  aren’t enough homes  on the market to meet buyer demand, so bidding wars and multiple offers are driving  prices  up. That’s because people are willing to pay more to buy a home. Right now, this low supply and high demand are giving current homeowners a significant ...

  To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . Danielle Hale, Chief Economist at   realtor.com ,   says   there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things:  mortgage rates and housing supply. ” Here’s a look at each one. Mortgage Rates Projected To Rise in 2022 As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are  beginning to rise , and experts  forecast  they’ll continue going up in 2022  (see graph below) : As the graph shows, mortgage rates are expected to climb next year. But they’re  still low  when you compare to where they were just a few years ago. T...

  Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there’s still a group of buyers that are very   active this holiday season – homebuyers states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott Experts anticipate the real estate market will see a flurry of activity this winter, and that’s great news for today’s sellers. If you’re planning on listing your home, there’s no need to wait until the spring for better conditions –  today’s real estate market is already heating up. Buyers Have Warmed Up to the Idea of Purchasing This Winter The past 18 months brought about significant lifestyle changes for many of us, including the rise in  remote  work, job changes, and even early  retirement  for some. For many people, it’s prompting a search for their next home now rather than waiting for warmer months. Lawrence Yun, Chief Economist at the...

   If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be states  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to experts, home prices are not projected to decline. Here’s why. With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more  moderate pace . Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise. And while the number of homes for sale today is expected to improve with more sellers getting ready to  list their houses  this winter, we’re certainly not out of the inventory woods yet. Thus, ...

  From the opportunity to take advantage of today’s low   mortgage rates   to changing   homeowner needs , Americans have more   motivation   than ever to buy a home states Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year. As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year. Lawrence Yun, Chief Economist,  National Association of Realtors  (NAR) “This solid buying is a testament to  demand still being relatively high , as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 mill...

  Mike Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   If you’re a homeowner who’s decided your current house no longer fits your needs, or a renter with a strong desire to become a homeowner, you may be hoping that waiting until next year could mean better market conditions to purchase a home. To determine whether you should buy now or wait another year, you can ask yourself two simple questions: Where will home prices be a year from now? Where will mortgage rates be a year from now? Let’s shed some light on the answers to both of these questions. Where Will Home Prices Be a Year from Now? Three major housing industry entities are projecting ongoing home price appreciation in 2022. Here are their forecasts: Fannie Mae : 7.4% Freddie Mac : 7% Mortgage Bankers Association : 5.1% According to the  National Association of Realtors  (NAR), the median price of a home today is  $353,900 . Using an average of t...