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Housing Supply | Security Pacific Real Estate - Garrett Mann Home Sales Blog

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

Monday, November 9, 2020   /   by Garrett Mann

Is it Safe to Sell My House Right Now?

In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet that growing need. This means now is the time to make a move so you can close the deal on your ideal terms.
Even in today’s strong sellers’ market, there are homeowners who are choosing not to sell due to ongoing concerns around the health crisis, financial uncertainty, and life in general. According to Zillow, here are the top three reasons homeowners who are thinking of selling sometime in the next three years are not putting their houses on the market right now:

34% - Life is too uncertain right now
31% - Financial uncertainty
25% - COVID-19 health concerns

If you identify with any of these, you’re not alone. Whether it’s the future of your employment situation or simply being uncomfortable having gues ...

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  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, selling, housing market updates, economy, demand, housing supply, for sellers, prices, interest rates, home price, supply, america, health crisis, trusted professional, adverse influences

Thursday, November 5, 2020   /   by Garrett Mann

Why the 2021 Forecast Doesn’t Call for a Foreclosure Crisis

As the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next year. This is understandable, especially for those who remember the housing crisis that began in 2008. The reality is, plans have been put in place through forbearance to ensure history doesn’t repeat itself.
This year, homeowners are able to request 180 days of mortgage relief through forbearance. Upon expiration of that timeframe, they’re also entitled to request 180 additional days, bringing the total to 360 days of deferred payment eligibility. As forbearance expires, homeowners should stay in touch with their lender, because creating a plan for the deferred payments is a critical next step to avoiding foreclosure. There are multiple options for homeowners to pursue at this point, and with the right planning and communication with the lender, foreclosure doesn’t have to be one of them.
Many homeowners are c ...

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  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, buying, selling, homebuyer, housing market updates, demand, economy, housing supply, for buyers, for sellers, prices, equity, homebuyer preferences, unemployment, forebearance

Tuesday, October 27, 2020   /   by Garrett Mann

How Down Payment Assistance Opens the Door to Homeownership

Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.
On top of that, the same survey reports over two-thirds of prospective homebuyers believe they’ll need assistance to save enough for a down payment. What they may not realize is that there are a lot of down payment assistance programs at the state and regional levels, and many of them have funds available for ...

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  real estate, housing market, buyers, homeownership, housing demand, 2020, buying, homebuyer, selling, housing market updates, demand, housing supply, economy, home, wealth, for buyers, for sellers, prices, equity, homebuyer preferences, down payment assistance

Monday, October 26, 2020   /   by Garrett Mann

Two Important Impacts of Home Equity

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in equity over the past year. In addition, experts project 2020 home prices to continue rising. With prices going up, equity gains will also keep accelerating. Black Knight just reported:

“The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.”

Jeff Tucker, Senior Economist at Zillow, just qualified recent price increases as “jaw-dropping” and “within a hair's breadth of double-digit year-over-year appreciation.”
Knowing equity will help enable many homeowners to better survive the economic distress caused by the ongoing pandem ...

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  real estate, housing market, buyers, homeownership, housing demand, sellers, 2020, buying, homebuyer, selling, housing market updates, demand, housing supply, economy, for buyers, for sellers, equity, home price, home affordability, homebuyer preferences, comparable sales

Security Pacific Real Estate - Garrett Mann Home Sales
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