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Is Home Buyer Demand Starting To Slow?
Even though the real estate market in Austin Texas continues to be ‘on fire’, a recent report from Redfin shows that home buyer demand is starting to slow. Their report comes from analyzing search traffic in the recent month plus an overall decrease in mortgage applications and home tours. Does this mean that we’re getting close to seeing the beginning of the end of seemingly non-stop price increases and demand for real estate in recent years? The answer to this question depends on whom you ask but the reality is that the stats show that the market is changing. Inflation Impact One key factor that is likely to contribute to…
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How the Pandemic Is Helping Some Millennials Realize Their Home-Buying Dreams
This year’s coronavirus pandemic and the accompanying recession have turned a lot of people’s financial plans upside down. But those millennials who’ve been lucky enough to hang onto their jobs are fast-tracking their plans to buy a home, in part because the pandemic is helping them do so. The nation’s largest generation has been helped by record-low mortgage interest rates, according to a recent realtor.com® survey. Those low rates are helping to offset home prices that are at an all-time high in many places. In addition, the survey results show that stay-at-home orders have helped these 20- and 30-somethings save money they might otherwise have spent going out, thus helping them…
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‘New York and California are the land of the flee, and Texas is the land of the free’: real estate investor
The allure of small-town living has catalyzed mass migration from places like New York and California to states like Texas and Florida as Americans grapple with daily life during the coronavirus pandemic. Since March, city-dwellers shopped for more affordable, spacious living arrangements in suburbs and small cities. Migration is starting to slow down, a recent Yahoo Finance-Harris Poll survey showed, but the shift to small-town living has already radically changed real estate values in the U.S., say experts. “I actually think we’re not appreciating it as big and profound as it actually is. Our joke has been that New York and California are the land of the flee, and Texas is…
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Fannie Mae Data Confirms That Home Buying Sentiment Dropped In July
Thanks to recent data from Fannie Mae, we know that consumer home buying sentiment dropped during July After two straight months of increases following the onset of Coronavirus in March. The real estate market across the United States, especially in Austin, is still strong but, with home purchase sentiment down more than 19 points compared to the same time last year. This is a cause for concern among some industry professionals that are watching the direction of the market closely. What’s Next For The Real Estate Market? Even though mortgage interest rates have never been lower, the reality is that for most consumers, they are pessimistic about buying a home…
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Are We Going to See A Foreclosure Wave In 2020?
One of the top things that most people who are interested in real estate, especially in Austin Texas, having asked us over the class of two months is if we are going to see a foreclosure wave hit the Austin Texas real estate market in 2020. Many people who study the real estate market think that the current economic conditions closely mirror that economy of 2008 which everybody knows that once things began to fall apart, a foreclosure wave hit the real estate market as well. Before 2008, mortgage lenders would lend money to anybody who had a pulse, and it wasn’t uncommon for there to be a wide variety…
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Will mortgage interest rates hit 0%?
One of the top questions that buyers and sellers have been asking in recent weeks is “are mortgage interest rates going to hit 0%”? The answer this question is no. Most economic analysts predict that mortgage interest rates will never go as low as 0% but it’s possible that we could see them dip down to as low as 3% (or lower) by 2021. Regardless of how low mortgage interest rates get, if you’re thinking of buying a home, you shouldn’t wait for interest rates to continue sliding because rates are considered to be historically low right now and that means that you should not hesitate to take advantage of…
