Mike Skafas Real Estate

08/01/2023

Home Buyers!! Following a proven process will help to successfully manage the 80+ variables associated with buying a home. The mismanagement of any one of these could cost you thousands or the actual home! Check out the Most Costly Mistakes Home Buyers are Making Today.

Most Costly Mistakes Home Buyers are Making Today,and How Smart Home BuyersLike You Have a Smart Home Buying Strategyin Today’s NEW Real Estate Economy

04/27/2023

Staying informed about current market conditions and mortgage rates is important when helping home buyers and sellers make decisions. It doesn't matter whether you're looking to make a move or not, just knowing where the current rates are will prevent you from guessing. Here's a great resource to bookmark if you too want stay informed. Check out today's mortgage interest rates https://www.mortgagenewsdaily.com/mortgage-rates

View today's current mortgage rates with our national average index, calculated daily to bring you the most accurate data when purchasing or refinancing your home. Follow our daily market analysis with Mortgage Rate Watch and we'll tell you where and why rates are moving.

04/25/2023

The housing market’s been going through a lot of change lately, and there’s been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what’s next with home prices and mortgage rates, or what the best advice is for someone in your position right now.

Here’s what industry experts are saying right now about the spring housing market and what it means for you:

𝙎𝙚𝙡𝙢𝙖 𝙃𝙚𝙥𝙥, 𝘾𝙝𝙞𝙚𝙛 𝙀𝙘𝙤𝙣𝙤𝙢𝙞𝙨𝙩, 𝘾𝙤𝙧𝙚𝙇𝙤𝙜𝙞𝙘:
“We see more competition among buyers . . . Housing supply also tends to grow during the spring months. And this is also the time of year when relatively more migration happens, as people graduate and move elsewhere looking for jobs.”

𝙂𝙧𝙚𝙜 𝙈𝙘𝘽𝙧𝙞𝙙𝙚, 𝘾𝙝𝙞𝙚𝙛 𝙁𝙞𝙣𝙖𝙣𝙘𝙞𝙖𝙡 𝘼𝙣𝙖𝙡𝙮𝙨𝙩, 𝘽𝙖𝙣𝙠𝙧𝙖𝙩𝙚:
“I don’t expect big moves in prices in the span of a month, but like the flower buds of spring, the housing market is showing signs of improvement. A pick up in activity with inventory still low does bode well for home prices.”

𝙍𝙞𝙘𝙠 𝙎𝙝𝙖𝙧𝙜𝙖, 𝙁𝙤𝙪𝙣𝙙𝙚𝙧 𝙖𝙣𝙙 𝘾𝙀𝙊, 𝘾𝙅 𝙋𝙖𝙩𝙧𝙞𝙘𝙠 𝘾𝙤𝙢𝙥𝙖𝙣𝙮:
“If you can find a home you love and can afford at today’s prices, don’t wait. Home prices in most of the country are unlikely to crash, and mortgage rates will only come down very gradually if they decline at all this year.”

Learn More:
https://michaelskafas.exprealty.com/blog/174255/Curious+what+the+Experts+have+to+say+about+the+Spring+real+estate+market%3F

03/14/2023

An Expert Gives You Clarity in Today’s Housing Market

The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process.

A real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now.

Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”
But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You can lean on an expert to...

www.ReExpertAdvisor.com

The housing market has been going through shifts lately.

03/10/2023

Buying a Home May Make More Sense Than Renting [INFOGRAPHIC]

www.ReExpertAdvisor.com

Some HighlightsIf you’re trying to decide whether to rent or buy a home, there are a few things you should consider.Homeownership can help you escape the cycle of rising rents, builds your wealth, and serves as a hedge against inflation.

03/07/2023

Could a Multigenerational Home Be the Right Fit for You?

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):

“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”

And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:

“. . . multigenerational living has made a comeback in recent years, particularly after the 2008 financial crisis and during the pandemic.”

So, if buying a multigenerational home has crossed your mind, you aren’t alone...

www.ReExpertAdvisor.com

During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. 

03/03/2023

Where Will You Go After You Sell Your House? [INFOGRAPHIC]

If you’re thinking of selling your house, be sure to explore all the options you have for your next home. Both newly built homes and existing homes offer plenty of unique benefits. If you have questions about the options in our area, DM me and let’s discuss what’s available and what’s right for you.

www.ReExpertAdvisor.com

Some Highlights If you’re thinking of selling your house, be sure to explore all the options you have for your next home. Both newly built homes and existing homes offer plenty of unique benefits.

02/28/2023

What You Should Know About Rising Mortgage Rates

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. If you’re planning to purchase a home this year, you too may be wondering if now’s the right time to buy or if you should hold off on your search until rates come back down.

The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:

“Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.”

>>Advice for Home Shoppers

If you’re thinking about pausing your home search...

www.ReExpertAdvisor.com

After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too m...

02/24/2023

Checklist for Selling Your House This Spring [INFOGRAPHIC]

As you get ready to sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. DM me so you have advice on what you may want to do to get your house ready to sell this season.

www.ReExpertAdvisor.com

Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces.

02/21/2023

The Two Big Issues the Housing Market’s Facing Right Now

The biggest challenge the housing market’s facing is how few homes there are for sale.

Let’s break down these two big issues in today’s housing market.

>>Rate-Locked Homeowners

Today, the typical mortgage rate offered to buyers is over 6%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher borrowing cost. This is a situation known as being rate locked.

When so many homeowners are rate locked and reluctant to sell, it’s a challenge for a housing market that needs more inventory. However, experts project mortgage rates will gradually fall this year, and that could mean more people will be willing to move as that happens.

>>The Fear of Not Finding Something To Buy

The other factor holding back potential sellers is the fear of not finding another home to buy if they move. Worrying about where they’ll go has left...

www.ReExpertAdvisor.com

The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply:

02/17/2023

The Spring Housing Market Could Be a Sweet Spot for Sellers [INFOGRAPHIC]

www.ReExpertAdvisor.com

Some Highlights The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy. The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market.