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Homebuyer | Security Pacific Real Estate - Garrett Mann Home Sales Blog

Thursday, November 19, 2020   /   by Garrett Mann

Will Mortgage Rates Remain Low Next Year?

In 2020, buyers got a big boost in the housing market as mortgage rates dropped throughout the year. According to Freddie Mac, rates hit all-time lows 12 times this year, dipping below 3% for the first time ever while making buying a home more and more attractive as the year progressed (See graph below):When you continually hear how rates are hitting record lows, you may be wondering: Are they going to keep falling? Should I wait until they get even lower?
The Challenge with Waiting
The challenge with waiting is that you can easily miss this optimal window of time and then end up paying more in the long run. Last week, mortgage rates ticked up slightly. Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates jumped this week as a result of positive news about a COVID-19 vaccine. Despite this rise, mortgage rates remain about a percentage point below a year ago.”

While rates are still low ...

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  real estate, housing market, buyers, homeownership, housing demand, buying, homebuyer, housing market updates, economy, for buyers, investment, prices, interest rates, home price, home affordability, homebuyer preferences, historic

Friday, November 13, 2020   /   by Garrett Mann

Tips to Sell Your House Safely Right Now [INFOGRAPHIC]

Some Highlights

Your agent now has over 6 months of experience selling houses during the pandemic and can make the process easier and safer for you today.
COVID-19 protocols and technology usage recommendations from the National Association of Realtors (NAR) are making it possible to sell houses right now, while agents continue to abide first and foremost by state and local regulations.
Let’s connect to discuss how to sell your house safely in today’s housing market.

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  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, buying, selling, homebuyer, housing market updates, demand, housing supply, pandemic

Thursday, November 12, 2020   /   by Garrett Mann

Winter Will Bring a Flurry of Activity to the Housing Market

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

The typical winter slowdown in the housing market is simply not on the radar. Here’s why.
While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent article, Bankrate explained:

“If you’re looking to buy a home…expect mortgage rates to remain low into 2021. However, the possibility of rates falling to 2.5 percent or lower has faded as the U.S. economy has rebounded.&rdquo ...

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  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, buying, selling, homebuyer, housing market updates, for buyers, for sellers, america

Tuesday, November 10, 2020   /   by Garrett Mann

Homeownership Is a Key to Building Wealth

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner:

“…a primary home accounts for 90% of the total wealth of a family in the U.S.”

How do homeowners gain wealth?
Most large purchases, like cars and appliances, depreciate in value as they age, so it’s understandable to question how owning a home can increase wealth over time. In a simple equation, the National Association of Realtors (NAR) explains how the combination of paying your mortgage and home price appreciation grow overall wealth:
Principal Payments + Price Appreciation Gains = Housing Wealth Gain
As home values increase and you make payments toward your home loan, you’ll gain wealth through e ...

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  real estate, housing market, buyers, homeownership, housing demand, 2020, buying, selling, homebuyer, housing market updates, for buyers, wealth, for sellers, equity, supply, america, home affordability

Friday, November 6, 2020   /   by Garrett Mann

Making a Home for the Brave Possible [INFOGRAPHIC]

Some Highlights

VA Home Loans provide unique opportunities for Veterans, active-duty personnel, and their families in recognition of their service to our Nation.
For eligible individuals, options associated with VA Loans can help make the dream of homeownership a reality.
If you or someone you know may benefit from a VA Loan, let’s connect to answer your questions today.

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  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, buying, selling, homebuyer, housing market updates, economy, america, veterans, military, va loans

Security Pacific Real Estate - Garrett Mann Home Sales
Garrett Mann
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Richmond, CA 94806
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