Housing Affordability
There are three things that impact housing affordability. Mainstream media would have you believing that it is only mortgage rates. But, housing prices and wages are also fundamental factors in housing affordabilty. Let’s look at each factor. Mortgage Rates – this is the factor that most people focus on when talking about homebuying conditions today. […]
Take the Fear out of Saving for a Home
If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. Saving for a home doesn’t have to be scary though. One way to take the fear out of budgeting is understanding some of the costs you might encounter. And to do that, turn to trusted real […]
3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008 – Even in Basking Ridge NJ
With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble in Basking Ridge NJ. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news […]
Is This a Housing Bubble? Or is the Real Estate Market Simply Slowing Down?
Is This a Housing Bubble? What will 2023 bring? The talk of a housing bubble in the coming year seems to be at a fever pitch as rising mortgage rates continue to slow down an overheated real estate market. Over the past two years, home prices have appreciated at an unsustainable pace causing many to ask: are things […]
NJ Real Estate | Avoid these Mortgage Mistakes | The Blanchard Team
Avoid these mortgage mistakes at all costs! You’ve seen so many houses, you may have competed for this property – let’s avoid these mortgage mistakes so your loan gets approved first time around!
4 Simple Graphs Showing Why This Is Not a Housing Bubble
A recent survey revealed that many consumers believe there’s a housing bubble beginning to form. That feeling is understandable, as year-over-year home price appreciation is still in the double digits. However, this market is very different than it was during the housing crash 15 years ago. Here are four key reasons why today is nothing like the […]
Is There Really a Housing Shortage?
I’m not sure that you will believe me when I say that we aren’t facing a housing shortage. I mean, everyone around us is griping about the fact that there is no inventory. It’s on the news, nationally and locally. I’m sure you’ve heard friends and family talking about how they have been trying to buy […]
Short Sale? Foreclosure?
Short sale, pre-foreclosure, foreclosure, bank-owned, in foreclosure, forbearance, oh my: so many terms! Many people are wondering if foreclosure properties or short sales are the way to go in this market. I wanted to share some information with you about the sale process for these types of transactions. Bank owned: these properties have already been foreclosed […]
Q3 Predictions – GDP
A picture is worth a thousand words and today I am sharing two pictures – TWO thousand words! There is so much going on in our country – worldwide, actually if you really think about it. 2020 has not been a particularly fun year and honestly, I’m not sure when it will get much better. […]
Current Mortgage Rates – Bank of America
Pricing has remained very attractive with the 10 year treasury currently at 1.59%. This is largely driven by the Coronavirus and could swing higher coming weeks. Regular Fannie Mae limits have increased to $510,400 and $765,600 in high balance counties. Current Fannie Mae pricing on 30 year fixed with 740 credit scores is 3.375% (3.449% […]