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.

The Federal Housing Finance Agency announced it would be increasing upfront fees on second-home mortgages and on mortgages that finance homes with balances that exceed standard conforming loan limits. The fees are expected to increase the purchase cost of second homes and homes in high-cost areas.

The new fees from Fannie Mae and Freddie Mac will take effect on April 1.

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Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

An important factor in today's market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we'll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon?

As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come.

Real Estate data varies from location to location.
The Real Estate Market changes constantly and these changes vary from location to location.

It's great that there are so many places for the general public, consumers, prospective buyers and sellers, to find information these days.

However, we know the difference a knowledgeable Realtor can make to help sort and analyze as needed throughout the process.

We wanted to share the January list prices and sold prices for Clarkston, Lake Orion, and Waterford Schools. 
  

A Home Warranty plan is often offered in a real estate transaction.  The seller may offer it as an incentive, often offered as an option to offer to the buyer by their listing agent.  OR, sometimes a buyer's agent may suggest to a buyer they request a home warranty as a potential propection against added costs for repairs that could likely occur in their buyers first year of home ownership.

We have seen many buyers who reaped the benefit of a Home Warranty while we have seen others have claims denied.
As always, we strive to provide our clients, both buyers and sellers, with accurate information to assure they are able to make informed decisions.
Allow us to share some varying opinions and important information you may want to learn about Home Warranty Policies.

 

 

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