One of the most common refrains that has come out of the very hot 2020 real estate market is the message that this is a perfect time to sell a home. Record low interest rates combined with a low inventory market and a shortened spring market means that demand is high and, in many areas, homes are selling for prices well above asking with multiple offers.
Why the 20 Percent Down Payment Isn’t Always the Best Option
The 20 percent down payment on a conventional loan is one of those “everybody knows” items, as in “everybody knows you have to put 20 percent down.” In reality, however, there are a variety of down payment options available in the mortgage marketplace, and a 20 percent down payment may not be the best choice for your particular home purchase scenario. Find out what you need to know to determine the down payment amount that’s right for you and for your next home purchase.
Why Is Home Buying a Key Personal Investment?
The Difference Between a Recession and a Housing Crash
For many homeowners, the word Recession is practically synonymous with the 2008 mortgage meltdown. It brings to mind neighborhoods filled with For Sale signs and a massive foreclosure crisis. However, this is an artificial association based on recent history. If we take the long view of the economy, Recessions are generally no more likely to create significant housing downturns than any other movement in the economy.