Real Estate for Everyone with Kristina Smallhorn

Discover the secrets to save thousands when buying new construction homes with these insider tips and strategies. Learn how to negotiate with builders as Todd Sachs of Sachs Realty helps us understand which upgrades offer the best value, and leverage financing options to your advantage. This guide breaks down key steps to help you avoid common pitfalls and make informed decisions throughout the bu...

Homebuyers are gaining leverage in many U.S. housing markets as inventory rises and market conditions soften. Despite a 26% decrease in homes for sale nationally compared to 2019, active listings increased by 36% between August 2023 and August 2024, indicating a shift in market dynamics. This trend is most prominent in regions like the Sun Belt, where a concentration of new construction and afford...

Mortgage rates are falling, and now the media is declaring that homes are becoming more affordable. With the Federal Reserve cutting interest rates for the first time in four years, mortgage rates are dropping closer to 6%, creating new opportunities for homebuyers. Lower rates mean reduced monthly payments, making homeownership more accessible for many. Refinancing activity is also picking up, as...

IF YOU HAVE A QUESTION AND WANT KRISTINA TO ANSWER IT, CALL 888-255-0197. Realtor.com reports that the week of September 29 to October 5 is projected to be the best time to buy a home this year, with potential savings of up to $14,000 compared to the summer median price of $445,000. During this period, competition tends to decrease, inventory increases, and demand drops by nearly 30% from its peak...

The summer housing market in August 2024 showed signs of cooling, primarily due to persistently high mortgage rates, creating an opportunity for homebuyers. A report by Realtor.com revealed a 36.2% increase in active home listings compared to the previous year, the highest level since May 2020. Buyers are benefiting from more choices and price reductions, with 19.3% of listings experiencing cuts,...

Contract signings for homes fell in July to their lowest level on record, dropping 5.5% from June and 8.5% from a year ago, according to the National Association of REALTORS® (NAR). Despite job growth and increased housing inventory, affordability challenges and uncertainty surrounding the upcoming U.S. presidential election have hindered a recovery in home sales. Some buyers are waiting for poten...

Mortgage interest rates could fall into the 5% range by the end of 2024 if the Federal Reserve cuts rates as expected. With inflation cooling and economic indicators showing improvement, the Fed may reduce the federal funds rate in its upcoming meetings, potentially lowering mortgage rates below 6%. While the rate cuts might not directly dictate mortgage rates, they do influence lender offerings....

In the upcoming discussion, we'll explore the housing plans proposed by Kamala Harris and Donald Trump, focusing on how these policies could impact the housing market. Harris's plan aims to tackle the housing crisis by constructing 3 million new homes, providing down payment assistance to first-time homebuyers, and addressing rent increases imposed by corporate landlords. Trump's plan,...

Experts are touting improved home affordability as a reason to cheer, citing a slight decline in mortgage rates and a modest increase in housing supply. The median new mortgage payment decreased to $2,167 in June from $2,219 in May, signaling better affordability. Yet, this minor relief is overshadowed by the fact that typical mortgage payments have doubled from pre-COVID levels, remaining signifi...

The housing market is still expensive, but there are signs it might get better for buyers soon. Homes are staying on the market longer, buyers are canceling deals because of high costs, more homes are for sale, and many sellers are lowering prices. While it's not a buyer's market yet, these changes indicate that conditions are becoming more favorable for those looking to buy a home. But th...

The US housing market is on an epic roller coaster ride, with nearly a quarter of homes experiencing price cuts in June, the highest rate for this time of year since 2018, according to Zillow. High costs and rising inventory are leading to easing competition, helping buyers regain their footing. Zillow's June report highlighted that 24.5% of home listings faced price reductions due to cooler c...

If you wanted to buy or sell a house, a significant fee was typically around 6% of the house's price, split between both sides of the real estate transaction. However, that's changing. In November, the housing market was shaken by a $1.87 billion lawsuit. The National Association of Realtors (NAR), representing over a million real estate agents, decided to settle multiple lawsuits by agree...

Today we will break down the latest insights from media experts on the housing market, emphasizing that a crash is unlikely. Key factors include strong economic outlooks, job growth, and a shortage of housing supply. Nowhere do these experts mention higher property taxes and homeowner insurance. Despite higher mortgage rates, demand outpaces supply, and lending standards remain strict, reducing ri...

First-time homebuyers in the US face a prolonged period of high mortgage rates and soaring home prices, with Bank of America economists predicting the housing market will remain "stuck" until at least 2026. Despite potential Federal Reserve interest rate cuts, mortgage rates may not significantly drop, and home prices are expected to continue rising due to an ongoing housing shortage. Th...

Mortgage rates are expected to stay high this summer after the Federal Reserve maintained the benchmark interest rate at 5.25% to 5.5%. The Fed, aiming to combat inflation, has kept rates steady after rapid hikes from near zero. Fed Chair Jerome Powell noted inflation has eased but remains above the 2% target. The Fed plans just one rate cut this year, disappointing those hoping for a summer decre...

In the current landscape of real estate, it's truly a tale of two markets. On one side, we see certain areas experiencing a significant decline in home prices, driven by economic uncertainties, rising interest rates, and an oversupply of properties. These markets are characterized by a cooling demand, longer listing times, and increased buyer negotiation power. Conversely, other regions contin...

The median home sale price rose 6% year-over-year to $434,000 in April, driven by a lack of new home listings. The total number of homes for sale reached a four-year high, partly due to some homes sitting on the market after being priced too high. About 18% of homes had a price cut, up from 12% last year. Some Hot markets saw roughly three-quarters of homes sell for more than their asking price. D...

In today's stream, we delve into the pressing issue of home affordability, a concern that continues to loom large as mortgage rates soar past the 7% mark. This significant rise in interest rates has escalated monthly mortgage payments, putting homeownership out of reach for many prospective buyers. We'll explore how the current economic climate, characterized by high rates and steady price...

Meredith Whitney, once known as the "Oracle of Wall Street," has linked the "crisis of the American male" to a potential 30% drop in home prices. In her view, young single men are increasingly disengaged, living at home, and not forming households, which impacts housing demand. She highlighted that these men, often isolated and engaged in video games rather than social interact...

According to a recent report from Capital Economics, they expect home prices to go up by about 5% in 2024. One reason for this is that there aren't enough houses for sale, which has been pushing prices higher because many people want to buy homes right now. Even though more houses are being put up for sale compared to last year, it's still not enough to meet the demand. Mortgage rates, whi...

Meredith Whitney has forecast a significant decline in housing market prices, attributing this to changes in young men's living patterns, such as staying single longer and being more likely to live with their parents. She argues that these demographic shifts, alongside a "silver tsunami" of baby boomers aging, will lead to an inversion in supply and demand dynamics in the housing mar...

The increasing issue of squatters occupying homes, often legally entering and then refusing to leave, highlights a significant lapse in the enforcement of property laws across many U.S. cities where squatting has evolved into a political movement with some support. Various incidents, from homeowners locked out by squatters claiming false leases to properties being sold off by unauthorized occupant...

If you wanted to buy or sell a house, there was a big fee involved, usually about 6% of the house's price, that went to both sides of the real estate transaction. But now, that's changing. In November the housing market was rocked by the 1.87 billion dollar lawsuit. The National Association of Realtors (NAR), which represents over a million real estate agents, decided to settle several law...

Hefty real estate commissions in the United States, estimated at around $100 billion annually, and compares them unfavorably to much lower rates in other countries. Economists Borys Grochulski and Zhu Wang propose an "à la carte" compensation model for buy-side agents, wherein buyers and sellers pay their agents separately, and buyers pay for specific services rendered rather than a fixe...

To stimulate the housing market, a survey by Realtor.com suggests that mortgage rates need to drop to the 5% range. A significant portion of Americans believe homeownership would become achievable if rates fell below 6%, with even more considering it possible under 5%. Lower rates would enhance buying power for first-time buyers and reduce mortgage payments for existing homeowners. Despite recent...