The Roselli Team - Your Real Estate Experts

As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking   home price appreciation , growing   equity , low   inventory , and competitive   mortgage rates   are motivating homeowners to make a move that addresses their   changing lifestyles . In fact, recent   data   from   realtor.com   shows a larger share of homeowners are planning to list their houses this winter. So, that means   more homes   are about to hit the market, which will lead to more choices for buyers too. According to George Ratiu, Manager of Economic Research at   realtor.com : "The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests   the majority of prospective sellers are actively preparing to enter the market this winter. " If you’re thinking of waiting until the spring to sell your ho...

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news. 1. Foreclosures Are Spiking Today There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current volume of foreclosures compared to 2020. They emphasize that we’re seeing far more foreclosures this year compared ...

As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of   benefits to homeownership   every renter needs to consider. Here are a few things you should think about before you settle on   renting   for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at   Census   data confirms rental prices have gone up consistently for decades   (see graph below): If you’re a renter, you’re faced with payments that continue to climb each year.   Realtor.com   recently shared the   September Rental Report , and it shows price increases accelerating from August to September   (see graph below) : As the graph shows, rents are still on the rise. It’s important to keep this in mind when the time comes for you to sign a new lease, as   your monthly rental payment may...

In today’s housing market, the number of homes for sale is   much lower   than the strong buyer demand. As a result, homeowners ready to sell have a significant   advantage . Here are three ways today’s   low inventory   will set you up for a win when you sell this season. 1. Higher Prices With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the   National Association of Realtors   (NAR), homes are receiving an average of   3.7 offers   in today’s market. This buyer competition drives   home prices   up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal. 2. Greater Return on Your Investment Rising prices mean homes are also gaining value, which increases the equity you have in your home. In the latest  Homeown...

With the average 30-year fixed mortgage rate from   Freddie Mac   climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts   project   rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do   rates   above 3%   really   mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The   graph   below shows today’s rate in comparison to average rates over the last five years: As the graph shows, even though today’s rate is above 3%,   it’s still incredibly competitive. But today’s rate isn’t just low when compared to the most recent years. To truly put today into perspective, let’s look at the last 5...

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen. There are fewer homeowners in trouble this time After the last housing crash, about   9.3 million households   lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to   30% of all mortgage holders   would enter the forbearance program. In reality, only 8.5% actually did, and that number is now   down to 2.2% . As of last Friday, the total number of mortgages still in forbearance   stood at  1,221,000 . That’s far fewer than the 9.3 million households that lost their homes just over a decade ago. Most of the mortgages in forbearance have enou...

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Rents have increased significantly this year. The latest   National Rent Report   from   Apartmentlist.com   shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year,  the national median rent has increased by a staggering 16.4 percent.   To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has   increased   consistently over the past 33 years  (see graph below) : If you’re thinking of   renting   for another year, consider that rents will likely be even higher next year. But that alone doesn’t paint the picture of the true   cost   of renting. The Money Renters Stand To Lose This Year A homeowner’s monthly mortgage payment pays for their shelter, but it also acts as an investment. That inve...