ceo-stories

  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  According to a   recent survey   from the   National Association of Realtors   (NAR), one of the top challenges buyers face in today’s   housing market   is finding a home that meets their needs. That’s because the   inventory   of homes for sale is so low today. If you’re looking to  buy a home , you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your  home search . Early Signs Inventory May Be Growing The  latest data  from  realtor.com  shows the number of listings coming onto the market, known in the industry as “new listings,” has increased since the start of the year ( see graph below ): This indicates more sellers are listing their homes for sale each month this year. And acc...

  If you’re planning to buy a home,  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states. I t’s critical to understand the relationship between   mortgage rates   and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan. In a rising-rate environment like we’re in today, that could limit your future purchasing power. Today, the average 30-year fixed mortgage rate is  above 5% , and in the near term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power. Mortgage Rates Play a Large Role in Your Home Search The  chart  below can help you underst...

  Buying your first home is a major decision and an exciting milestone.  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.  Even though it can feel daunting at times, it has the power to change your life for the better. If you’re looking to purchase your first home, you may be wondering what’s happening in the   housing market   today, how much you   need to save , and   where to start . Here are three things that can help give you the information you need to confidently pursue your dream of  homeownership . 1. Consider All Options When the Number of Homes for Sale Is Low Today, there are far  more buyers  in the market than there are homes available for sale. When that happens, it’s a good idea to do what you can to increase your pool of options. That could mean expanding your search to include additional housing types. For first-time buyers, considering  condominiums ...

  Michael Eastwood - Published Author/Chief Executive Officer of Bello Sol Inc-West USA Realty of Prescott states.   With a limited number of   homes for sale   today and so many buyers looking to make a purchase before   mortgage rates   rise further,   bidding wars   are common. According to the   latest report   from the   National Association of Realtors   (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state ( see map below ): The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive  housing market , it’s important to know what levers you can pull to help you beat the competition. While a real estate professional is your ultimate guide to presenting a strong offer, here are a few things you could consider. Offering over Asking Price When you think of sweetening the deal ...