Think home prices in the Triangle will be falling? Think again. The past two years have witnessed incredible equity gains nationwide and in some areas, well in the double digits. Prices must slow, right? The increase in interest rates will slow down buyers, right? We address these questions regularly with our clients and the indicators point to continued gradual gains in equity and interest rates that are likely to increase, but home prices are far from at a free fall. Let's discuss.

Home Price Appreciation 2022 vs 2021

According to data from CoreLogic, the rise in home prices over the past year and a half show a dramatic increase in the rate of home price appreciation in 2021, where home prices are still rising in 2022, they show a more gradual…

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We go over many of our buyer concerns on our blog and usually, one of the most common ones is, "Is right now a good time to buy", accompanied by, "Is right now a good time to borrow?" Depending on what your finances look like and how much you have saved for a down payment, it is almost always a good time to invest in real estate. Even with limited inventory, inflation, and increasing interest rates. Let's talk about why this is the case and why you should not necessarily delay home ownership plans in the face of inflation.

First, housing is an asset that over time grows in value so if you have cash and would like someplace to put it so it does not lose value, housing is a great option. Ali Wolf, economist at Zonda posits "If you have cash and are…

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Rents are skyrocketing, and while the labor market is strong, salaries are not keeping pace with inflationary pressures combined with ever increasing rents. Whether you're looking to buy for the first time and saving for a downpayment or those looking to sell and then rent, the challenge of renting is unstable housing  costs. Ideally you could budget a specific amount of money per month for housing however volatile rental costs are making this extremely challenging. Below we review the state of the market and offer some common sense ways to stabilize housing costs through homeownership.

State of the Market


According to the ATTOM Data 2022 Rental Affordability Report, owning a home is more affordable than renting in the majority of the…

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Are you sitting on a large holiday bonus? Have you had a windfall financially and are considering paying off your mortgage early? This is a common question our clients ask us and many are often a little surprised to hear us tell them that it isn't always the best idea and that depending on a variety of individual factors it may not be in their best interest to focus exclusively on paying off their mortgage. There are a number of consideration when considering whether you should pay off your mortgage particuarly if they have other debts besides their mortgage.

Considerations

Prepayment Penalties

Did you know you can be penalized for prepayment? Lenders count on the interest of your loan, so paying off early to save on the interest may require…

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It occurred to us as we head into the holiday season, that our recent market coverage content is similar to A Christmas Carol by Charles Dickens. A cautionary tale for the Seller waiting for prices to rise another 15-20%. While home prices continue trending upwards right now, they are decelerating or slowing as the Fed has made it clear that it intends to raise interest rates in the next few months. For those looking to sell their home and buy another, sooner may be better than later before rates start to increase. But you do not have to take our word for it. This week, we assembled the top real estate expert predictions for the housing market in 2022.

In our research we came across a wide array of “expert” opinions on the real estate market. Which…

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We are seeing home after home sell quickly to buyers making offers well over the asking price, often without contingencies, and with great terms for our Sellers. Buyers continue going to great lengths to ensure that their offer is sufficient to win in multiple offer situations; or are buying new construction homes, depsite the lack of flexibilty that builders are offering and the uncertainty of delivery date due to supply side issues. From 2020 on we have seen month after month of price increases which begs the question, will we have an adjustment in The Triangle and if so; what will it look like. We have compiled information from the leading sources on inflation, mortgage rates, and what the market did in October to help explain prices. Let’s look at…

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Understanding Appraisal Issues

I know this post is likely to generate a lot of negative comments from appraisers and mortgage lenders but I am willing to take the heat and be honest. Appraisals have always been "A necessary but pointless headache" for Buyers, Sellers and their Realtors.

Here's the bottom line, an appraisal is nothing more than one person's opinion of valuation. It may or may not be a well-reasoned, educated valuation; regardless of whether it is a well done appraisal or not; at the end of the day, it's meaningless other than to the Lender in terms of what they're willing to lend a buyer.

For context and to understand I'm not some upset Realtor indulging in a rant; I have been a full time Broker for more than 40 years. My…

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Insurance - Homeowners and Beyond

Typically Hurricane season peaks in late August through October and with the news of fires in the West as well as flooding events nationwide, we thought it timely and important to understand where you are and are not protected by home owners insurance insurance. Here is a guide to insurance, beyond basic homeowners. If you are looking to purchase a home on The Triangle, please reach out to us. Not only can we make the home buying (or selling) process easier for you; but we can refer you to the best insurance providers for your needs, as a landlord, or homeowner as well as personally vetted trade people who can help you with any repairs or improvements you may be considering.

Inside your Homeowners Policy

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Are you considering a reverse mortgage? Do you know what a reverse mortgage is? Is it the same as refinancing? In the past decade reverse mortgages have gained in popularity, but we have also witnessed a rise in fraudulent and predatory practices within this industry. It has been pushed to seniors as a catch-all financial retirement product. However, it is important to understand that in reality it's a loan and when used to cover living, medical or other expenses you must understand that you are reducing the equity in your home. Applied without careful consideration, it can put your finances in a much worse position than other options that may be available to you. Let's explore the reverse mortgage and see if this is an option that makes sense for…

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We all expected the unexpected when it came to the real estate market in 2020, it was anyone's guess how the housing market would fare. The effect of a global pandemic on markets in the digital age had consequences that are completely unforeseeable, and the boom in the housing market is one of them. Many of our contemporaries and housing economists predicted changes across the board, but few predicted the strength of the market, especially the demand for homes. We have not seen the demand of this magnitude since 2006.

As we are witnessing markets gain more stability with mass vaccines and the reopening of economies, the housing predictions are becoming more cohesive. The second half of 2020 witnessed a veritable boom in real estate, according to…

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