ceo-stories

  The link between financial security and homeownership is especially important today as   inflation   rises.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states .   But many people may not realize just how much owning a home contributes to your overall   net worth . As Leslie Rouda Smith, President of the   National Association of Realtors   (NAR),   says : “Homeownership is rewarding in so many ways and can serve as a vital component in achieving financial stability.” Here are just a few reasons why, if you’re looking to increase your financial stability, homeownership is a worthwhile goal. Owning a Home Is a Building Block for Financial Success A recent NAR  report  details several homeownership trends and statistics, including the difference in net worth between homeowners and  renters . It finds: “. . . the net worth of a homeowner was about  $300,000 w...

  As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to   buying   or   selling   a house.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   While there are multiple factors causing some uncertainty, including the conflict overseas, rising   inflation , and the first-rate increase from the   Federal Reserve   in   over three years   — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring. 1. Mortgage Rates Will Climb Freddie Mac   reports  the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild  fluctuation  in recent weeks, experts believe rates will continue to edge up over the next 90 days. As  Freddie Mac   says : “The Federal Reserve raising short-term r...

   If you’re ready to   move up , you may be trying to decide whether you want to buy a home that’s already on the market or build a new one.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states  since the   supply of homes   available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to construct more houses and help narrow the supply shortage, they’re also facing delays due to factors outside of their control. Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact  your plans  to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search. Supply Chain Issues The first hurdle builders are dealing with is the lack of supply of various building materials. Acco...

  If you’re a current homeowner, you should know your net worth just got a big boost states  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott . It comes in the form of rising home equity.   Equity is the current value of your home minus what you owe on the loan.   Today, you’re building that equity far faster than you may expect – and this gain is great news for you. Here’s how it happened.  Home values  are on the rise thanks to  low housing supply  and  high buyer demand . Basically, there aren’t enough homes available to meet this  high buyer interest ,  so bidding wars are driving  home prices  up. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at  CoreLogic ,  explains : “Home prices rose 18% during 2021 in the CoreLogic Home Pri...