At the end of last year, Forbes published a very interesting article as a forecast for this year of 2019. And the facts pertain to buyers and sellers and investors—HEY! All things the OHT love to help people do and accomplish around D-FW.
So, see what you think… because these facts seem convincing and they are encouraging too.
Here’s a taste:
-Mortgage rates will continue rising.
“Despite steady climbing for the past two years, mortgage rates remain lower than they were during most of the recession and below average for the type of strong economic growth we’ve been experiencing. That will change in 2019, as the 30-year, fixed rate mortgage reaches 5.8% — territory not seen since the dark days of 2008 when rates were racing downward in response to the housing crisis.” — Aaron Terrazas, director of economic research for Zillow
-Millennials will keep buying homes — despite those rising rates.
"The housing market in 2019 will be characterized by continued rising mortgage rates and surging millennial demand. Rising rates, by making housing less affordable, will likely deter certain potential homebuyers from the market. On the other hand, the largest cohort of millennials will be turning 29 next year, entering peak household formation and home-buying age, and contributing to the increase in first-time buyer demand.” — Odeta Kushi, senior economist for First American
-Home buying power will decrease, but that could be a good thing.
-Overall home sales will drop.
-Inventory troubles will ease — not too much, though.
And more. Check out the article!
Dallas News has reported on the end of 2018 and gives an outlook that our market is strong—reasonably “fair”—and it’s a good time to be looking to buy or sell. Of course, there's been a steady increase in prices and market values: Home prices in North Texas are up between 4 percent and 5 percent year-over-year.
The number of homes for sale in the almost two dozen North Texas counties included in the report was 22 percent higher than a year earlier, with more than 21,000 preowned single-family homes listed for sale with real estate agents. On average it took 57 days to sell a property -- 8 percent longer than a year earlier. Even with the increase in inventory, there was only about a 2.4-month supply of houses listed for sale in the area at the end of December.
Check out the article on DallasNews.com
There's good (and sometimes, easy) work to do in prep to become a BUYER. You can get these ideas in good order now! And we can help, so always give us a call if you're beginning this path. :)
But here are good tips from the Remax blog, including:
"Lock in Your Pre-Approval
Sitting down with a mortgage lender now can save you time later. Securing pre-approval on a mortgage will usually lock in an interest rate for 90 days and allow you to focus on homes that are in your price range."
And there's more good stuff!....
Read the Full Article Here.
Great idea for an article here from Porch.com
Look into what recent buyers have said as they reflect on the process after time passes. And, look at the info given that's based on people's outlook at different "life stages." And what do you think?!
"Owning a home has long been a part of the American dream. Having your own slice of real estate indicates you are stable, committed, and responsible.
For most Americans, it's the largest single purchase they will make and most likely their biggest asset. For all the excitement that comes with a first home, the ultimate dream can turn into a nightmare when unforeseen problems surface before the ink on the mortgage papers dries."
SEE the FULL ARTICLE HERE.
Write something about yourself. No need to be fancy, just an overview.