If you need assistance, please call 510-620-4758

Real Estate | 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 ...

Read More


  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

Tuesday, November 17, 2020   /   by Garrett Mann

Homes for Sale Are Rapidly Disappearing

Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just explained:

“While winter may be typically a slow season in real estate, economists predict it isn’t likely to happen this year…Low inventories combined with high demand due to record-low mortgage rates is sending buyers to the market in a flurry.”

However, one challenge for the housing industry heading into this winter is the dwindling number of homes available for sale. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), recently said:

"There is no shortage of hopeful, potential buyers, but inventory is historically low.”

In addition, Danielle Hale, Chief Economist for realtor.com, notes:

“Fewer new sellers coming to market while a greater than usual n ...

Read More


  real estate, housing market, buyers, homeownership, housing demand, 2020, sellers, buying, selling, housing market updates, demand, for buyers, for sellers, prices, equity, interest rates, supply, home affordability, 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.

Read More


  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 ...

Read More


  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 ...

Read More


  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

Security Pacific Real Estate - Garrett Mann Home Sales
Garrett Mann
3223 Blume Drive
Richmond, CA 94806
510-620-4758
DRE# 02019705

 photo combinedLogo_zps6tkjf92d.jpg © 2020 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. Date and time last updated: 12/2/2020 7:25 PM CST Website provided by: HBN Media/Commissions Inc.
This site powered by CINC: www.cincpro.com
Verified Reviews