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  • Home Buyer Tips | Berkshire Hathaway HomeServices Lake Ozark Realty Blog

    Tuesday, June 2, 2020   /   by Marty Gum

    Home Prices: It’s All About Supply and Demand

    As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come.
    Making our way through the month of June and entering the second half of the year, we face an undersupply of homes on the market. Keep in mind, this undersupply is going to vary by location and by price point. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. Historically, 6 months of supply is considered a balanced market. Anything over 6 months is a buyer’s market, meaning prices will depreciate. Anything below 6 months is a seller’s market, where prices appreciate. The graph below shows inventory across the country since 2010 in months supply of homes for sale.Robert Dietz,&nb ...

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      home buyer tips, home seller tips, lake of the ozarks real estate market

    Friday, June 7, 2019   /   by Marty Gum

    What is the Cost of Waiting Until Next Year to Buy? [INFOGRAPHIC]

    Some Highlights:





    The “cost of waiting to buy” is defined as the additional funds necessary to buy a home if prices & interest rates were to increase over a period of time.






    Freddie Mac forecasts interest rates to rise to 4.5% by the Q4 2020.






    CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months.






    If you are ready and willing to buy your dream home, find out if you are able to!

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      home buyer tips

    Tuesday, June 4, 2019   /   by Marty Gum

    How Homeownership Delivers Unsurpassed Family Wealth

    There are many financial benefits to homeownership, but probably none more important than its ability to create family wealth.
    How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is an online resource for research and information on how homeownership contributes to individual and community success.
    Their article, The First Rung on the Ladder to Economic Opportunity Is Housing, explains the importance of homeownership to a family’s financial health. In that article, they simply stated:

    “The ladder to economic success can stretch only so high without the asset-building power of homeownership.”

    To this point, National Association of Realtors’ (NAR) Economists’ Outlook Blog revealed in a recent post:

    “Housing wealth contributes positively to the homeowner’s and children’s economic condition, because home equity can be tapped for expen ...

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      home buyer tips

    Monday, June 3, 2019   /   by Marty Gum

    4 Reasons to Buy A Home This Summer

    Here are four reasons to consider buying today instead of waiting.
    1. Prices Will Continue to Rise
    CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 3.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.
    Home values will continue to appreciate. Waiting may no longer makes sense.
    2. Mortgage Interest Rates Are Projected to Increase
    Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage have started to level off around 4.3%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.
    An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will incre ...

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      home buyer tips