Wednesday, November 9, 2022 / by Nick Waldner
Explaining how the supply of inventory affects your home’s value
How does the monthly supply of inventory affect the value of your home? Let's go over that today so we understand it.
Things have changed in the market over the last two years. If you look back earlier this year in January to April, we had less supply than we did the year or two years prior in each of those months. But come May, that was the first month where we had more supply than we did at the same time last year. You're now seeing that trend continue in June and July. Both had more inventory than in 2021 and 2020.
So you're starting to see inventory tick up, and you think simple economics would tell you that more supply means the prices will begin going down, but here's the thing: Because of the market crash from 2005-2007, we stopped building while America continued growing its families. We had more households than we did actual new construction. We have this supply and demand that has thrown e ...
Tuesday, October 11, 2022 / by Nick Waldner
The recent changes in our Maryland housing market and how they affect you.
What is happening in the Maryland real estate market? I get a lot of questions from homeowners and prospective buyers about the changes in our market. That’s why I’m here to be your guide and help you understand what is happening. Today I’m breaking down some of the shifts in inventory, interest rates, home prices, and the market as a whole. Here are some common questions and their answers:
1. Is it a buyer’s or seller’s market? It is absolutely still a seller’s market. Inventory remains low while demand is high.
2. What does the current housing inventory look like? While we are starting to see inventory rise, we’re still well below pre-pandemic levels.
3. How does the inventory affect home values? As more homes come on the market, the demand for particular homes is falling. Over the last few years, we’ve seen increases of 15% to 30% in ho ...
Friday, September 30, 2022 / by Nick Waldner
Three options for those who need to buy a home before selling.
Talking Point #1: Make an offer with a home-sale contingency
By including a home-sale contingency in your offer, you can purchase the new house once your existing one sells successfully. If your current home doesn’t sell within a certain time frame, you can cancel the purchase contract without any penalties. To sweeten the deal, your agent can explain to the seller that your house will likely sell fast in today’s market.
Talking Point #2: Finance with a bridge loan
A bridge loan is a short-term, high-interest loan. When you buy with a bridge loan, you can use your existing home as collateral to get a loan for your new house. To close your bridge loan faster, try to align the closing dates of your buying and selling transactions.
Talking Point #3: Use a service that will help you make a cash offer.
Thursday, March 11, 2021 / by Haley Vail
“Bull markets are born on pessimism, grown on skepticism, mature on optimism, and die on euphoria.” -Sir John Templeton
Too much euphoria is a contrarian indicator. Markets really revolve around human dynamics and emotion. Regardless of what we believe, we make decisions emotionally and then justify them logically. That is why we believe we are acting logically when we are actually acting emotionally. Are you logically looking at the market or emotionally?
Warren Buffett said “Be fearful when others are greedy.”
There is a “Panic vs Euphoria” index provided by Citigroup. It states that anything measuring over 0.41 is getting into euphoria territory. The current and highest level ever measured in this index is right now: 1.89! That is five times the euphoric indication level! For comparison the 2007/2008 market hit .05 before it crashed down. The dot.com bubble burst when euphoria hit a record 1.4. Now we don’t know if a downtur ...
Wednesday, November 22, 2017 / by Erik Thorsvik
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