The Realtor Roundup

  Welcome to the Housing Market Trends for March! This report focuses on the residential real estate housing market. We listen to the experts and boil down what they have to say to assist you, our heroes, with decision making regarding buying a home, selling your home, or refinancing your mortgage. Housing Market Trends March Key Takeaways The housing market is ever-evolving. Economic factors, government policies, interest rates, and even socio-cultural shifts can play a role in how the market behaves. That said, here are some housing market trends for February to help determine what’s best for you as you consider your housing situation: Mortgage Rate Trends  – Mortgage rates have fluctuated over the past six months, with recent declines presenting an opportunity for buyers to enter the market with less competition. Home Inventory Trends  – Rising inventory levels provide buyers with more options, but many first-time homebuyers still need lower mortgage rates to afford a ...

  One of the   steps between signing and closing   on a home is when homebuyers typically deposit money into an escrow account. An agent who is a   REALTOR®   can help advise you on your offer and how to keep your deposits safe. When it comes to escrow, here’s what homebuyers should know: What is escrow? Escrow is a financial agreement in which a third party, such as an attorney or another settlement or title agent, controls payments between the buyer and seller, only releasing the funds involved when all the terms of the contract are met. As the buyer, once you close on the home, the money you’ve placed in escrow will often be applied toward your down payment and other closing costs. Other costs that can be covered by funds in an escrow account include property taxes and insurance premiums. What is “earnest money?” Also known as a “good faith deposit,” an earnest money deposit is paid by a homebuyer to show their interest is legitimate and they intend to close ...

  How Much Home Equity Have You Gained? The Answer Might Surprise You Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize. What Is Home Equity? Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have $300,000 in equity. It’s essentially the wealth you’ve built through homeownership. Right now, homeowners across the country are seeing record amounts of equity. According  to  Intercontinental Exchange  (ICE),  the average homeowner with a mortgage has $319,000 in home equity . Why Have Homeowners Gained So Much Equity? The rise in home equity over the years can be credited to two key...

  Protect Yourself from Real Estate Fraud: What Every Buyer and Seller Should Know In the fast-paced world of real estate, fraud is an unfortunate reality. With large sums of money changing hands and personal information being exchanged, it’s an attractive target for scammers. Whether you're buying or selling a home, it’s essential to be aware of potential fraud schemes that could disrupt your transaction and cost you thousands. In this blog, we’ll dive into common types of real estate fraud and offer tips on how you can protect yourself. Common Types of Real Estate Fraud Wire Fraud One of the most prevalent types of fraud in real estate transactions involves wire fraud. In this scheme, hackers intercept the email communications between buyers, sellers, or agents and send false wire instructions, tricking the buyer into transferring their closing funds to the criminal's account. Once the money is wired, it can be incredibly difficult, if not impossible, to recover. How to Avoi...