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Fosters Realty Blog

Wednesday, December 22, 2021   /   by Deborah Puleo

Expert Insights on the 2022 Housing Market

2022 will definitely be an improvement for buyers as we anticipate more inventory to level out the playing field between buyers and seller.  Here's what the experts are saying!  Some good recipes can be found here

Monday, October 18, 2021   /   by Deborah Puleo

What Do Supply and Demand Tell Us About Today’s Housing Market?

What Do Supply and Demand Tell Us About Today’s Housing Market?

There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly.
Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market:

Why are prices rising?
Where are prices headed?
What does this mean for homebuyers?

Why Are Prices Rising?
According to the latest Home Price Insights report from CoreLogic, home prices have risen 18.1% since this time last year. But what’s driving the increase?
Recent buyer and seller activity data from the National Association of Realtors (NAR) h ...

Thursday, August 26, 2021   /   by Deborah Puleo

Why 2021 Is Still the Year To Sell Your House

Why 2021 Is Still the Year To Sell Your House

If you’re trying to decide whether or not to sell your house, this is the time to think seriously about making a move. Fannie Mae’s recent Home Purchase Sentiment Index (HPSI) reveals the number of respondents who say it’s a good time to sell is higher now than it was over the past few summers (see graph below). Today, the majority of consumers, 75 percent, say it’s a good time to sell a house.
Why is sellers sentiment up year-over-year?
The higher good time to sell sentiment has to do with today’s market conditions, specifically low housing supply and high buyer demand. In the simplest terms, we don’t have enough houses available for sale to meet buyer demand.
According to the latest data from the National Association of Realtors (NAR), we’re still firmly in a sellers’ market because housing supply is well ...

Tuesday, August 17, 2021   /   by Deborah Puleo

What Does Being in a Sellers’ Market Mean?

What Does Being in a Sellers’ Market Mean?

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition amon ...

Friday, February 5, 2021   /   by Deborah Puleo

The Early Bird Gets the Worm...or in this case a successful Short Sale!

There are certainly a lot of factors when reviewing what it takes to have a successful short sale in real estate.  Before we go into those factors, let's first review what is a short sale.  A short sale is exactly as it sounds.  It is when the borrower owes more than what the property is worth and the lender accepts less than what is owed on the mortgage.  So when would a homeowner need to short sale?  That question is answered by looking at their hardships.  Was there a job loss, an illness, divorce, a disaster, pandemic, something that changed their ability to pay their mortgage and other expenses?  The answer should be some or all of these mentions and that question will be asked by the lender as they require a hardship letter with the short sale package. Click here to see what are some things NOT to say in a short sale hardship letter.  Click Here to learn on what is good to include in your hardship letter.  Be sure to take not ...