Good News For Home Buyers
What do the numbers mentioned above tell you? As a home buyer, you will have more choice to find your new home at a better price you hope for.
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Many homeowners attempt to sell their homes on their own, but FSBO (For Sale By Owner) often comes with unexpected challenges. According to Keeping Current Matters (KCM), here are the top struggles FSBO sellers face:
✅ Pricing Pitfalls – Setting the right price is tricky; too high and buyers stay away, too low and you leave money on the table.
✅ Limited Exposure – Without a strong marketing network, selling quickly can be difficult.
✅ Legal Complexities – One mistake in the paperwork can lead to costly legal issues.
✅ Presentation Matters – Many homeowners struggle to showcase their home effectively to attract buyers.
As part of its latest outlook, Fannie Mae’s economists shared five predictions for the housing market in 2025. They expect:
“From an affordability perspective, we think 2025 will look a lot like 2024, with mortgage rates above 6 percent, home price growth easing from recent highs but staying positive, and supply remaining below pre-pandemic levels,” said Mark Palim, Fannie Mae Senior Vice President and Chief Economist. “Still, heightened mortgage rate volatility may present opportunities for would-be homebuyers to take advantage of temporary lows, and we may see stretches where housing activity is boosted by lower rates — but, on average, we expect mortgage rates to remain elevated and a hindrance to activity. While we think conditions on a national basis will remain challenging, we’re seeing meaningful regional differences in market conditions, and the homebuying experience — as the adage goes — will continue to be a local one.
~ Above Press Release provided by Fannie Mae on December 16, 2024 ~
For those who are planning to buy a home, please pay close attention to :
As the tariff war is approaching with the new administration, higher inflation seems inevitable. Higher inflation means higher price on everything including houses. It may be wise to act sooner because you may save a considerable amount of money when buying your home. Besides, your home will build up equity for you the very day you own it.
Homebuyers have faced high mortgage rates and soaring prices.
Redfin, a Seattle, Washington-based real estate giant, forecasts average 30-year fixed mortgage rates will remain in the high 6% range over the duration of 2025. Online real estate marketplace Zillow says mortgage rates will fall, but only moderately.
Alongside persistently high mortgage rates, experts predicted a continued, albeit slower, rise in home prices.
In September, Goldman Sachs predicted a 4.4% rise in home prices in 2025, which would mark a slight decline from the 4.5% rise in 2024.
~ Above information provided by abc NEWS on January 1, 2025 ~
Shared by Rancho Cucamonga real estate broker Li Li Hwang