The Roselli Team - Your Real Estate Experts

  Homeownership is still a crucial part of the American dream. For those people who   own a home   (and those looking to buy one), it’s clear that being a homeowner has considerable benefits both   emotionally   and   financially . In addition to long-term stability, buying a home is one of the best ways to increase your net worth. This boost to your   wealth   comes in the form of equity. Equity   is the difference between what you owe on the home and its market value based on factors like price appreciation. The best thing about equity is that it often grows without you even realizing it, especially in a   sellers’ market   like we’re in now. In today’s real estate market, the combination of   low housing supply   and high buyer demand is driving   home values   up. This is giving homeowners a significant equity boost. According to the latest data from   CoreLogic , the amount of equity homeowners have has continued to grow as home values appreciate. Here are some key takeaways from

In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle. Things Are Different Today Today’s housing market is anything but normal. According to the   National Association of Realtors   (NAR), homes today are: Receiving an average of  3.8 offers Selling in just 17 days Homes selling quickly and receiving multiple offers highlights how competitive the   housing market   is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at   CoreLogic ,   explains   how these stats can impact buyers: “The imbalance

  If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home. To determine if you should buy now or wait, you need to ask yourself two simple questions: What will home prices be like in 2022? Where will mortgage rates be by the end of 2022? Let’s shed some light on the answers to both of these questions. What will home prices be like in 2022? Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts: Freddie Mac : 5.3% Fannie Mae : 5.1% Mortgage Bankers Association : 8.4% Using the average of the three projections (6.27%), a home that sells for $350,000 today would be valued at $371,945 by the end of next year. That means, if you delay, it could cost you more. As a prospective buyer, you could pay an additional $21,945 if you wait. Where will mortgage rates be by the

In today’s   sellers’ market , standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high   buyer demand . If you’re buying this fall, you’ll want every advantage, especially when you’ve found the home of your dreams. Below are five things to keep in mind when it’s time to make an offer. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get   pre-approved   for a loan. As   Freddie Mac   puts it : “This pre-approval allows you to look for a home with   greater confidence and demonstrates to the seller that you are a serious buyer. ” Showing sellers you’re serious can give you a competitive edge. It enables you to act quickly when you’ve found your perfect home. 2. Be Prepared To Move Fast Speed and the pace of sales are contributing factors to today’s competitive housing mark

When it comes to the latest news in   real estate , there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the   experts . Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows. Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about   buyer demand   today and how it continues to shape the industry: Michael Lane , President at   ShowingTime : “In general, there are definite signs of cooling demand.   However, buyer traffic is still at historically high levels compared to pre-pandemic showings .” Odeta Kushi , Deputy Chief Economist at   First American : “Seasonally adjusted purchase applications tick up slightly to the highest level since July.   Demand for homes remains strong and steady.   Excluding 2020 (not a good benchmark)   purc

  Even though experts agree   there’s no chance   of a large-scale foreclosure crisis, there are a number of homeowners who may be coming face-to-face with foreclosure as a possibility. And while the overall percentage of homeowners at risk is decreasing with time ( see graph below ), that’s little comfort to those individuals who are facing challenges today. If you haven’t taken advantage of the   forbearance period , it may be time to research and understand your   options . It starts with knowing what foreclosure is.   Investopedia   defines it like this: “ Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property . Typically, default is triggered when a borrower misses a specific number of monthly payments . . .”  The good news is, there are   alternatives available   to help you avoid having to go through the foreclosure process, including: Reinstatement Loan modification Dee

One of the major story lines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year. Here are the latest percentages showing the year-over-year increase in home price appreciation: The   House Price Index (HPI)   from the   Federal Housing Finance Agency   (FHFA): 18.8% The   S. National Home Price Index   from   S&P Case-Shiller : 18.6% The   Home Price Insights Report   from   CoreLogic : 18% The dramatic increases are seen at every price point and in all regions of the country. Increases Are Across Every Price Point According to the latest   Home Price Index   from   CoreLogic , each price range is seeing at least a 19% increase year-over-year: Increases Are Across Every Region in the Country Every region in the country is experiencing at least a 14.9% increase in home price appreciation, according to the   Federal Housing Fina

If you're trying to decide when to sell your house, there may not be a better time to list than right now. The ultimate   sellers' market   we're in today won't last forever. If you’re thinking of making a move,   here are four reasons to put your house up for sale sooner rather than later. 1. Your House Will Likely Sell Quickly According to the  Realtors Confidence Index  released by the  National Association of Realtors   (NAR), homes continue to sell quickly –   on average, they're selling in just 17 days.  As a seller, that's great news for you. Average days on market is a strong indicator of buyer   demand . And if homes are selling quickly, buyers have to be more decisive and act fast to submit their offer before other buyers swoop in. 2. Buyers Are Willing To Compete for Your House In addition to selling quickly, homes are receiving multiple offers.   That same survey shows sellers are seeing an average of 4.5 offers , and they’re competitive ones. The gr