Las Vegas Real Estate Blog
The Reason Mortgage Rates Are Projected to Increase and What It Means for You
We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months. However, there’s no guarantee rates will remain this low much longer.
Whenever we try to forecast mortgage rates, we should consider the advice of Mark Fleming, Chief Economist at First American:
Where Have All the Houses Gone?
In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale in Las Vegas. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:
“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point...
Millennials Buying in 2021
In today’s housing market, all eyes are on millennials. Not only are millennials the largest generation, but they’re also currently between 25 and 40 years old, which is often considered the prime homebuying years when many people begin to form their own households and invest in real estate.
If you’re a millennial thinking about moving this year, message us to learn more about the opportunities in our area....
Home Mortgage Rates by Decade [INFOGRAPHIC]
- Mortgage interest rates have dropped considerably over the past year, and compared to what we’ve seen in recent decades, it’s a great time to buy a home.
- Locking in a low rate today could save you thousands of dollars over the lifetime of your home loan, but these low rates may not last forever.
- If you’re in a position to buy a home, let’s connect to determine your best move in today’s housing market while interest rates are still in your favor. ...
Things to Avoid after Applying for a Mortgage
- There are a few key things to make sure you avoid after applying for a mortgage to help make sure you still qualify for your loan at the closing table.
- Along the way, be sure to discuss any changes in income, assets, or credit with your lender, so you don’t unintentionally jeopardize your application.
- The best plan is to fully disclose your intentions with your lender before you do anything financial in nature.
Why It’s Easy to Fall in Love with Homeownership
Time to Sell Your 2nd Home?
High buyer demand is heating up today’s housing market. If you have a vacation home in Las Vegas that just doesn’t fit your needs anymore, this spring is a perfect time to sell while buyers have destination fever. Home prices have increased by 10.2% since Janary 2020! Message us to get started on the selling process!...
Should I Wait for Lower Mortgage Interest Rates?
Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for the lowest rates imaginable. However, the reality is, acting sooner rather than later may be the actual win if you’re ready to buy a home.
According to Greg McBride, Chief Financial Analyst for Bankrate...
Thinking about Building a New Home in Las Vegas? Your Agent Is Critical.
- A real estate professional is an expert who can advocate on your behalf throughout the process when building a home.
- Agents help you understand key steps, like choosing upgrades and managing negotiations, while staying within your budget from start to finish.
- If building is the right option for you, let’s connect so you have a trusted real estate professional who can help you successfully navigate the path to your dream home.