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Kevin Schumacher Team Real Estate Blog

There’s No Reason To Panic Over Today’s Lending Standards

Today, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors they’re pointing to is the availability of mortgage money. Recent articles about the availability of low down payment loans and down payment assistance programs are causing fear that we’re returning to the bad habits seen 15 years ago. Let’s alleviate these concerns.

What Credit Score Do You Need for a Mortgage?

According to data from the most recent Origination Insight Report by Ellie Mae, the average FICO® score on closed loans reached 753 in February. As lending standards have tightened recently, many are concerned over whether or not their credit score is strong enough to qualify for a mortgage. While stricter lending standards could be a challenge for some, many buyers may be surprised by the options that are still available for borrowers with lower credit scores.

Buyer & Seller Perks in Today’s Housing Market

Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.

Americans See Major Home Equity Gains [INFOGRAPHIC]

• Today’s home price appreciation is driving equity higher throughout the country.
• If your needs are changing and you’re ready for a new home, your equity may be a great asset to power your next move.
• Now is a great time to put your equity toward a down payment on the home of your dreams.

[MARKET UPDATE] Front Range Real Estate March 2021

Many of our clients are asking us if right now is a good time to sell their home or even take advantage of their home equity and purchase an investment property. The answer is yes.
Due to low inventory on the market we are seeing multiple offers on just about every home. This increased competition is driven by low interest rates and desire to live in our Colorado Front Range area.
If you are looking to use equity in your home as an investment opportunity, you are able to take advantage of the low interest rates for your purchase all while still gaining in the appreciation to come in our area.

6 Simple Graphs Proving This Is Nothing Like Last Time

Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead, real estate had one of its best years ever. Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another crash.

5 Reasons to Sell Your House This Spring

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready.

Are There Going to Be More Homes to Buy This Year?

If you’re looking for a home to purchase right now and having trouble finding one, you’re not alone. At a time like this when there are so few houses for sale, it’s normal to wonder if you’ll actually find one to buy. According to the National Association of Realtors (NAR), across the country, inventory of available homes for sale is at an all-time low – the lowest point recorded since NAR began tracking this metric in 1982. There are, however, more homes expected to hit the market later this year. Let’s break down the three key places they’ll likely come from as 2021 continues on.

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. 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.

[MARKET UPDATE] Front Range Real Estate February 2021

When you hear us talk months of inventory what that means is that based on how quickly homes are selling, if no more sellers put their home son the market for sale, that we would be out of homes to purchase in X amount months. This is what determines a buyer or seller market. Anything under 6 months is considered a seller market and anything over 6 months is considered a buyers market with exactly 6 months being an equilibrium between them or a "normal" market.

Current the national average for months of inventory is 1.9 months. But in our Colorado Front Range markets we are seeing even less than that! Check out below for a quick break down. If you have any questions about your current equity position in your home, reach out to our team and we would be happy to take a look for you.

Larimer County: .7 Months of Inventory or about 21 Days
Weld County: .8 Months of Inventory or about 24 Days
Boulder County: 1 Month of Inventory or about 30 Days
Denver Metro: .4 Months Inventor or about 12 Days

3 Ways You’ll Win When You Buy a Home This Year

There are so many great reasons to purchase a home, and over the past year, we’ve realized more of them than we ever thought possible. If you’re a first-time homebuyer, having a home of your own can give you a greater sense of security and accomplishment in a time that’s largely uncertain. If you’re a repeat buyer looking for your dream home, making a move might give you the space or features you need to find greater success and happiness in a new normal way of life. Whatever your motivations are, here are three reasons why becoming a homeowner now may help you win big in the long run.

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© The Kevin Schumacher Team @ eXp Realty LLC. All Rights Reserved. Realty Licensed in the state of Colorado.

ADDRESS

Kevin Schumacher Team
1635 Foxtrail Drive
Loveland, CO 80538
Phone: (720) 230-3030
These Properties are provided courtesy of IRES. Information is being provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information herein is believed to be accurate and timely, but no warranty as such is expressed or implied. Real estate listings held by brokerage firms other than The Kevin Schumacher Team at EXP Realty are governed by MLS Rules and Regulations and detailed information about them includes the name of the listing companies. All properties are subject to prior sale, change, or withdrawal. Costs and conditions apply call for details. Not intended to solicit buyers under buyers agency, not intended to solicit listings currently listed. *The statements and opinions contained in this advertisement are solely those of the individual author and do not necessarily reflect the positions or opinions of eXp Realty, LLC, or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information provided. ©Copyright 2020, Listings provided by IRES.
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