Tricia Madrid - Texas Elite Team Realtors

  What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the  housing crash  in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer Homeowners in Trouble Today’s data shows that most homeowners are exiting their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again. The graph below depicts those  finding...

Where Are Mortgage Rates Headed? There’s never been a truer statement regarding forecasting mortgage rates than the one offered last year by  Mark Fleming , Chief Economist at  First American : “You know, the fallacy of economic forecasting is:  Don't ever try and forecast interest rates and or, more specifically, if you're a real estate economist mortgage rates, because you will always invariably be wrong .” Coming into this year, most experts projected mortgage rates would  gradually increase  and end 2022 in the high three-percent range. It’s only April, and rates have already blown past those numbers.  Freddie Mac   announced  last week that the 30-year fixed-rate mortgage is already at 4.72%. Danielle Hale, Chief Economist at  realtor.com ,  tweeted on March 31 : “Continuing on the recent trajectory, would have  mortgage rates hitting 5% within a matter of weeks . . . .” Just five days later, on April 5, the  Mortgage News...

  Should You Update Your House Before Selling? Ask a Real Estate Professional.  Some Highlights If you’re deciding whether you should make  updates  before you sell your house, lean on your trusted real estate advisor to be  your guide . In today’s  sellers’ market , buyers have  limited options  and may be more willing to take on repairs  themselves . If you’re thinking about selling your house, let’s connect so you have  expert advice  that’s customized to your home and our local area.

  Why a Real Estate Professional Is Key When Selling Your House With today’s real estate market moving as fast as it is, working with a  real estate professional  is more essential than ever. They have the skills, experience, and expertise it takes to navigate the highly detailed and involved process of selling a home. That may be why the percentage of people who list their houses on their own, known as a FSBO or For Sale By Owner, has reached its  lowest point  since 1985 ( see graph below ): Here are five reasons why selling with a real estate professional makes more sense, even in today’s  hot market : 1. They Know What Buyers Want To See Before you decide which projects and repairs to take on, connect with a real estate professional. They have first-hand experience with today’s buyers, what they expect, and what you need to do to make sure your house  shows well . If you don’t lean on their expertise, you may spend your time and money on something ...

  What You Actually Need To Know About the Number of Foreclosures in Today’s Housing Market While you may have seen recent stories about the volume of foreclosures today, context is important. During the pandemic, many homeowners were able to pause their mortgage payments using the forbearance program. The goal was to help homeowners financially during the uncertainty created by the health crisis. When the forbearance program began, many experts were concerned it would result in a wave of foreclosures coming to the market, as there was after the  housing crash  in 2008. Here’s a look at why the number of foreclosures we’re seeing today is nothing like the last time. 1. There Are Fewer Homeowners in Trouble Today’s data shows that most homeowners are exiting their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again. The graph below depicts those  finding...

  Using Your Tax Refund To Achieve Your Homeownership Goals This Year If you’re buying or selling a home this year, you’re likely saving up for a variety of  expenses . For buyers, that might include things like your  down payment  and closing costs. And for sellers, you’re probably working on a bit of spring cleaning and maintenance to spruce up your house before you list it. Either way, any money you get back from your taxes can help you achieve your goals. Using a tax refund is a common tactic for buyers and sellers.  SmartAsset   estimates  the average American will receive a $2,897 tax refund this year. The map below provides a more detailed estimate by state: If you’re getting a refund this year, here are a few tips to help with your home purchase or sale this season. How Buyers Can Use Their Tax Refund According to  American Financing , there are multiple ways your refund check can help you as a  homebuyer . A few include: Growing your...