28 Sep Housing Market Trends 2021
Even though housing supply had already been affected before Covid-19, it became worse when the pandemic hit as people started to look for new homes with the will to move to lesser populated areas or better home offices as lockdowns were implemented all over the world.
Even though the Federal Reserve ensured that mortgage rates stay reasonable, it did not take into account the high prices of houses. All over America, there has been an increase in rates of 17.2 percent in June 2021 as compared with June 2020. This is a record high as a large chunk of houses are demanding more than the asking price. Many cities today are reporting a double-digit increase in percentages in the prices of houses.
The Change in Home Prices
Real estate experts predict that the prices of homes will soon start to fall in most cities as single-family homes gain access to more inventory. The National Association of Realtors reports that unsold houses increased 3.3 percent to 1.25 million within only two months- May to June. This gives us hope and buying leverage that soon, there will be many housing options available to the general public. Mortgage applications are seeing an 18-month decrease and buyer fatigue in the housing market is extremely apparent. More and more sellers are changing tactics to deal with the low buying power and reduced prices.
Buyer Behavior is Not as Risky as Previous Years
Remember the time when the pandemic caused an increase in sales of toilet paper and sanitizers? Similarly, Covid-19 caused a number of people to get involved in the real estate market. As demand for these houses became more widespread, potential buyers have tried their best to outgrow the competition. This has led to strange things happening- buyers have started to leave out contingencies in the sales contract that would have helped protect their money and can make up thousands of dollars. Some buyers have started to dip into their retirement savings, while others have begun to take out big loans so that they can pay cash up-front. However, we predict that this approach will soon be declining. This is because the prices of houses are not flattening as more and more people understand that they might be risking too much. Experts prove that now, buyers are more cautious, and the level of desperation has started to die down.
Forecasts for Mortgage Rates and Housing Prices
Over time, trends have proved that in the fall, individuals have more chances of landing better deals on real estate. However, in 2020, there was an enormous increase in the sales of homes during the fall. What will happen in 2021? Research shows that the demand for houses will cool off in the fall, like all the previous years. This is based on the decreasing home prices and increasing inventory that has been seen lately. Moreover, mortgage rates are expected to rise. Since summer 2020, 30-year and 15-year mortgage rates have been relatively low, staying between mid-2 percent to 3 percent. Even though mortgage rates have hit rock bottom, this will not be the case next year. By 2022, there will be a gradual increase in rates that will help curb demand.
5 Hot Neighborhoods in South Jersey You Need to Know About
South Jersey is a hidden gem in the real estate market, offering a mix of suburban charm, proximity to major metropolitan areas, and affordability compared to its northern counterpart. From family-friendly communities to up-and-coming urban centers, South Jersey has something for everyone. Whether you’re a...
Southeastern PA Luxury Real Estate Trends: What’s Hot and What’s Not
Luxury Real Estate Trends: What’s Hot and What’s Not The luxury real estate market in Southeastern Pennsylvania offers a fascinating glimpse into the evolving preferences of affluent buyers. From sprawling estates in Chester County to upscale urban townhomes in Philadelphia’s Main Line suburbs, this market...
Should You Turn Your Home Into a Rental?
10 Steps to You Can Take to Turn Your First Home Into a Rental PropertyPurchasing your first home is a milestone, and for many, it’s the start of building wealth through real estate. While owning a home is often seen as a personal achievement, it...
5 Hidden Costs You Must Know!
5 Hidden Costs Every First-Time Homebuyer Should Know About Buying a home is a huge milestone, but for first-time buyers, it can come with unexpected costs that add up quickly. Often, the excitement of purchasing a new home can overshadow the importance of budgeting for...
Rookie to Pro: How to Start Investing
From Rookie to Pro: How to Start Investing in Real Estate TodayReal estate investing is often seen as a path for the wealthy or highly experienced. But in reality, anyone with determination, strategic planning, and a willingness to learn can start their journey in real...
Is a Home Warranty Worth the Money?
Is a Home Warranty Worth the Money?The Pros and Cons ExploredWhen purchasing a home, buyers often hear the term “home warranty” thrown around, usually in the same breath as homeowners insurance. For those new to homeownership, a home warranty may sound like an appealing safeguard—one...
How to Identify and Avoid Overpriced Homes
How to Identify and Avoid Overpriced Homes In any real estate market, overpriced homes can stall your home-buying process, potentially lead to poor investment returns, or even cause financial strain. Identifying these properties and understanding why some homes are priced beyond their actual worth is...
The Best Time to Sell Your Home
The Best Time to Sell Your Home: A Seasonal Guide Choosing the best time to sell your home can make a significant impact on the final sale price and the amount of time it spends on the market. While factors such as local demand, inventory,...
How to Spot a Great Deal
How to Spot a Great Deal in a Hot Market In a hot real estate market, where competition is high and properties often receive multiple offers within days, finding a great deal can seem like an impossible task. Yet, for savvy buyers, a great deal...
7 Common Homebuyer Regrets
7 Common Homebuyer Regrets and How to Avoid ThemBuying a home is one of the most significant investments most people will ever make. It’s a thrilling process full of hopes and dreams about the future. However, it can also be daunting and complicated, and without...
Using Market Data to Sell Fast
How to Use Market Data to Sell Your Home FasterWhen it comes to selling your home, timing and strategy are everything. It’s not just about putting up a “For Sale” sign and waiting for buyers to flock in. Today’s market requires sellers to be more...
Top 5 Real Estate Myths Debunked
Top 5 Real Estate Myths Debunked When it comes to buying or selling a home, the real estate world can be overwhelming. From friends, family, and the internet, you’ll likely receive a ton of advice—some of it helpful and some of it… not so much....
Home Equity to Build Wealth
How to Use Your Home Equity to Build Wealth If you own a home, you might be sitting on a powerful financial tool—your home equity. Home equity is the difference between the market value of your home and the outstanding balance on your mortgage. Over...
Real Estate Investing
The Truth About Real Estate Investing: Key Insights to ConsiderReal estate investing has long been recognized as one of the most effective ways to build wealth. It offers the potential for passive income, tax benefits, and appreciation over time. However, like any investment, real estate...
Boost Value for Under $1,000
How to Boost Your Home’s Value for Under $1,000: Budget-Friendly Upgrades When you’re preparing to sell your home, maximizing its value is key to getting the best return on your investment. Many homeowners assume that increasing their home’s value requires expensive renovations or remodeling projects,...
How to Navigate a Bidding War
How to Navigate a Bidding War: Tips for Sellers If you’re a homeowner looking to sell in a hot market, you may find yourself in the midst of a bidding war. While this can be an exciting situation, handling multiple offers requires strategic decision-making to...
Real Estate Market: Q3 Update
The Southeastern PA Real Estate Market: Q3 Update – A Look at Recent Market Data and What It MeansAs we move into the final quarter of 2024, the real estate market in Southeastern Pennsylvania continues to be a focal point for buyers, sellers, and investors...
Top 5 Philly Suburbs to Invest
Top 5 Philly Suburbs for Real Estate Investment: Where to Invest for Strong Returns Real estate investment can be a lucrative and rewarding venture, especially in regions with strong growth potential, vibrant communities, and desirable living conditions. Southeastern Pennsylvania, known for its diverse range of...
Max Your Curb Appeal in One Weekend
How to Maximize Your Home’s Curb Appeal in One Weekend:DIY Projects to Boost First ImpressionsWhen it comes to selling a home or simply making it feel more welcoming, curb appeal is essential. It’s the first thing people notice when they approach your property, and it...
10 Red Flags to Watch for
10 Red Flags to Watch for When Buying a Home: Essential Tips for HomebuyersBuying a home is one of the biggest financial decisions most people will make in their lives. It’s an exciting process, but it can also be overwhelming—especially when it comes to evaluating...
What Are Buyers Looking for in 2024?
What Buyers Are Looking for in 2024: Emerging Trends in Real EstateThe real estate market is constantly evolving, and what buyers want today can differ significantly from what they were seeking just a few years ago. In 2024, homebuyer preferences are being shaped by changing...
Selling in the Off-Season
How to Sell Your Home During the Off-Season: Smart Strategies for a Successful SaleSelling a home during the off-season can seem like a daunting task. Traditionally, spring and summer are considered the prime times for listing a home, with the warmer weather, longer days, and...
How to Choose the Perfect Neighborhood
How to Choose the Perfect Neighborhood: What to Look For When Buying a HomeBuying a home is one of the biggest investments you’ll ever make, and while factors like home size, style, and price are essential, the neighborhood you choose is equally—if not more—important. A...
Interest Rates, Is This Time Different?
The U.S. Housing Market from 2022 to 2024: Trends, Challenges, and What Lies Ahead Post 2 of 2 The U.S. housing market has experienced dramatic shifts over the past few years. From the soaring prices of 2022 to the demand cooling effect of rising interest...
Interest Rates, Its Impact On the Market
The Impact of Interest Rates on Selling Your Home: How Fluctuating Rates Affect the Housing Market and Sales Post 1 of 2 With the Federal Reserve lowering the Fed Fund rate by 0.25% this week, and signaling more rate cuts to come over the next...
Homebuyer Tax Benefits & How to Use Them:
Exploring Tax Deductions and Credits Buyers Can Take Advantage OfBuying a home is one of the most significant financial decisions a person can make, and while the costs can be high, there are numerous tax benefits available to help homebuyers offset some of the financial...
Home Not Selling? Do This Instead
Why Your Home Isn’t Selling and What to Do About It: Troubleshooting Reasons for Unsold Listings Selling a home can be a stressful experience, especially when it lingers on the market longer than expected. In a real estate market where some homes fly off the...
Top 5 Home Upgrades That Pay Off:
Smart Investments to Increase Property ValueWhen selling a home, homeowners often wonder which improvements will bring the highest return on investment (ROI). While some upgrades can be costly, making strategic choices can increase your home’s value and attract multiple offers, ultimately maximizing your profit. In...
PA Housing Market Update
Pennsylvania Housing Market Overview: Real Estate Trends in 2024The real estate market in Pennsylvania has been showing steady growth in 2024, reflecting broader trends seen across the U.S. In July, home prices in Pennsylvania experienced a year-over-year increase of 5.3%, signaling a strong market environment....
Selling Your Home During Fall?
Maximize Your Fall Home Sale: Essential Tips for a Successful Autumn Listing The fall season presents a unique opportunity for homeowners looking to sell. While spring and summer are traditionally considered peak times for real estate transactions, fall can offer distinct advantages that make it...
The Real Estate Industry: Building Communities and Client Relationships
The role of a real estate firm extends beyond mere property transactions; it involves actively shaping communities, fostering relationships with local businesses, prioritizing client needs, and continually educating oneself to stay ahead in an increasingly competitive market. This blog explores these key facets of the...
Philadelphia’s Branded Residences
A New Era of Luxury Living Philadelphia and the Main Line have always been synonymous with luxury living, offering a range of exquisite properties from historic estates to modern condominiums. But the latest trend that’s transforming the landscape is the emergence of branded residences. These...
Selling Amid Rising Mortgage Rates
In recent years, the real estate landscape has experienced significant fluctuations, particularly in mortgage rates. For many homeowners, these fluctuations have sparked a period of hesitation, putting their plans to sell or move on hold. The fear of taking on higher mortgage rates for their...
Understanding Foreclosures
Have you been unsettled by headlines highlighting a surge in foreclosures within today’s housing market? Before succumbing to alarm, it’s essential to recognize that these attention-grabbing titles often lack the full narrative. Putting Foreclosure Headlines in Context Media reports exaggerate the significance of recent foreclosure...
Reassuring Insights on Future Home Prices
Embracing Positivity Amidst 2024’s Market Uncertainties Reassuring insights on the future of home prices provide a positive perspective amidst the market uncertainties of 2024. If you’ve been pondering the trajectory of home prices, we’re here to provide you with comforting insights. Analyzing Recent Data and...
Boosting Home Value in Philadelphia: Renovation Ideas That Work
Boosting Home Value in Philadelphia: Renovation Ideas That Work. Are you looking to boost the value of your home in the vibrant city of Philadelphia? With the right renovation and improvement strategies, you can not only enhance your living space but also potentially increase the...
Top Real Estate Agent in King of Prussia
King of Prussia, a vibrant and growing community in Pennsylvania, is a sought-after destination for prospective homeowners and investors. The thriving real estate market in this region has made it essential to have a reliable and experienced real estate agent by your side. One standout...
10 Ways to Improve Your Chances of Owning a Home
Owning a home is a significant life milestone for many individuals and families. It’s a symbol of stability, financial independence, and a place to call your own. However, in today’s real estate market, achieving this dream can be a challenging feat. To help you on...
Title Insurance Information
Alpha Abstract Agency specializes in providing title insurance policies for both Purchasers and Lenders, ensuring comprehensive protection during real estate purchases or financing. In addition to our insurance services, we extend escrow and settlement solutions catering to a diverse range of residential, commercial, and industrial...
Mortgage Information
At Wize Mortgage, we hold the belief that your home transcends being a mere residence. It’s the sanctuary where you nurture your family and create enduring memories. Your home serves as a pathway to forge financial prosperity for the future. Recognizing the uniqueness of each...
Homes for Sale in King of Prussia
King of Prussia is a thriving suburban community in Pennsylvania that offers a perfect blend of modern amenities, excellent schools, and a vibrant atmosphere. If you’re in the market for a new home and are searching for homes for sale in King of Prussia,...
The History of Conshohocken
Nestled in Montgomery County, Pennsylvania, Conshohocken is a town steeped in history and brimming with stories of its evolution through the centuries. This charming locale has transformed from its humble beginnings into a thriving community, offering a unique blend of heritage and modernity. Let’s delve...
8 Things to do in Collegeville
Welcome to Collegeville – a charming town that blends history, culture, and modernity in a picturesque setting. Nestled in Montgomery County, Collegeville offers a plethora of activities and attractions for residents and visitors alike. Whether you’re a history buff, a nature enthusiast, or a foodie,...
2023 Top Real Estate Producer
Congratulations to our exceptional broker, Matin Haghkar, for being recognized as a Top Real Estate Producer by Philadelphia Magazine! Looking to buy or sell a property? Your search ends here! With over three decades of expertise, the exceptional team at RE/MAX Plus, led by Matin...
Learn About Bridgeport – Hidden Gem of Montco
Welcome to Bridgeport! This charming town nestled in Montgomery County offers a delightful blend of history, natural beauty, and exciting activities. Join us as we explore the top attractions and things to do in the Bridgeport area, ensuring a memorable experience for locals and visitors...
Home Sales Up in May Despite Inventory Shortage – The time to buy & sell is NOW!
Existing-home sales experienced a slight uptick in May, despite the ongoing challenge faced by buyers due to limited options in the market. According to the National Association of REALTORS® (NAR), total existing-home sales, which include single-family homes, townhomes, condos, and co-ops, increased by 0.2% month...
4 Essential Tips to Maintain Your Home in the Heat
As the scorching summer months approach, homeowners must take proactive steps to protect and maintain their valuable properties. The intense heat, prolonged sunlight, and increased humidity can pose challenges for home maintenance. In this article, we will discuss four crucial tips that homeowners can follow...
7 Home Improvement Projects That Can Add Value to Your Home
Thinking about listing your home this year? Now is a great time to start tackling a few home improvement projects to help increase your property’s value! 1. Add a fresh coat of paint: A coat of paint or some new wallpaper can go a long way...
7 Tips for Keeping Your Home Organized All Year Long
Happy New Year! One of the most popular resolutions each year is to keep a more organized and tidy home — but that’s easier said than done. If you’ve decided to take the plunge and master the art of organization this year, use the 8...
8 Ways to Give Back this Holiday Season
The holiday season is upon us, and while we’re looking forward to quality time with friends and family, great food, and spectacular presents – not everyone is as fortunate. A great way to support our communities throughout the holidays is looking for opportunities to give...
Ways to Give Back to Your Community
Amidst all the hustle and bustle that comes this time of year, it’s important to make time to practice gratitude and give back, as the season can be especially difficult for some members of our community and across the globe. From simple acts of kindness...
5 Tips for Staging Your Home During the Holidays
Staging your home is an important part of the selling process. Not only does it transform your home and make it feel clean and new, but it allows potential buyers to picture themselves living there! Staging often includes doing a little decluttering, depersonalizing, rearranging, and...
Ways You Can Save Money as a Homeowner
It’s no secret — buying and maintaining a home can be a big investment, from the initial purchase to any unexpected repairs down the road. However, there are several small ways to save money throughout your homeownership journey that could add up to significant savings...
8 Things to Add to Your Back-to-School Checklist
August is National Back-to-School Month which means it may be time to start prepping for the new school year! From purchasing school supplies to deciding on the perfect first day outfit, there’s so much to do before the bell rings. Use the list below to...
Your Guide to Hosting a Summer BBQ
There’s nothing better than a good, old-fashioned backyard barbecue! Between the great food and time with friends and family, you create some memorable moments. But before you roll out the grill and put on your apron, check out these simple tips to help you host...
8 Home Improvement Projects You Can Tackle in a Weekend
Summer is the perfect time to tackle a few of those projects you’ve been putting off for months! From tidying up your exterior to cleaning those neglected spaces, here are eight tasks you can tackle in just a few days this season. Pressure Wash Your...
8 Ways to Celebrate Memorial Day Weekend
Memorial Day is almost upon us! This three-day weekend is not only the unofficial start of summer, but also an opportunity for us to honor the people who have fought so bravely for our country. Looking for ways to celebrate this upcoming holiday?...
6 Things You Should Spring Clean That Are Not Your Home
Spring cleaning has become part of many of our yearly routines—and for a good reason! Decluttering, deep cleaning, and refreshing our homes allow us to create a clean slate for the rest of the year. But while cleaning out your refrigerator and finally organizing...
How to Get Your Garden Ready for Spring
It’s hard to believe it, but spring is almost here! While we’re just starting to say goodbye to the frigid temperatures of winter, warmer weather will be here before you know it. But before you pull out the grill and dust off your lawn chairs,...
7 Ways You Can Conserve Energy in the Colder Months
Did you know that oftentimes, our heating and cooling systems account for almost half of our total annual energy costs? That means during the colder months, when you’re cranking up the heat to combat that winter chill, the money you spend on utilities can rise dramatically....
New Holiday Traditions You Can Try This Year
New Holiday Traditions You Can Try This Year Holiday Traditions No matter what you celebrate during the holiday season, there’s no denying that traditions are an essential part of the annual festivities! While decorating the tree or hosting a cookie decorating contest may seem trivial,...
Ways to Give Thanks in Your Community
While enjoying a great meal and watching football is certainly a big part of Thanksgiving, this coming holiday season is really about expressing gratitude for the people in your life. And while those people are most likely your friends and family members, this year, consider...
Housing Market Trends 2021
Even though housing supply had already been affected before Covid-19, it became worse when the pandemic hit as people started to look for new homes with the will to move to lesser populated areas or better home offices as lockdowns were implemented all over the...
What to Look Out for When Buying an Old House
Looking to purchase an old house? If you’re the type of person who appreciates the older architecture appeal and charm, then this will be a rewarding choice for you. Old Houses Come with Old Problems Although older houses bring irrefutable historical character and individuality, there...
Things To Do Before Summer Ends
Aahh — sweet, sweet summer. As quickly as it arrives, it seems to depart, so let’s take advantage of the warmer temperatures and longer days while we still can! There are several ways to maximize the rest of the season before we have to trade...
Housing Market Analysis
Potential sellers who held onto their homes as prices climbed higher and faster than ever during the pandemic are finally emerging to cash out, a step toward easing a dire shortage in the hyperactive housing market. The number of U.S. homes for sale climbed 6.7%...
Spruce Up Your Patio
Over the last year or so, many of us have spent more time at home than usual, utilizing our backyards as an extension of our indoor living spaces. We enhanced our decks, patios and balconies, turning them into a replica of our favorite local restaurant’s...
Home Staging Tips
Whether you’re staging your home yourself or hiring a professional stager, here are a few tips for making sure your home is ready to be seen by potential homebuyers. Keep Your Style Out of It You may have great taste, but your buyer may not....
Air Conditioning Energy and Money Saving Tips
Ahh, the heat of summer! With higher temperatures often comes…higher energy bills, as we attempt to combat the heat outside with cool, air-conditioned interiors. To help you shave a few dollars off your energy bills all summer long, here are some tips and tricks for...
Décor Trends That Made a Comeback
You know what they say: What goes around comes around. But did we ever think wood paneling and wallpaper would make a comeback? That’s right — take a look at today’s most trendy homes on social media and you’ll see that many design concepts from...
Restaurant Week 2021
Information regarding Northern Liberties Restaurant Week & King Of Prussia Restaurant Week 2021.
Tips To Increase Your Home Appraisal
The appraisal value of your home can make or break your request for refinancing. If your appraisal is not high enough, you might not be able to refinance at all, leading to poor loan terms. Don’t worry, though, because we are here to help you out. Here are the top 6 tips to increase your home appraisal.
Home Buying 101
The term minimalism is also used to describe a trend in design and architecture where in the subject is reduced to its necessary elements. Minimalist design has been highly influenced by Japanese traditional design and architecture. In addition, the work of De Stijl artists is a major source of reference for this kind of work.
How To Sell Your Home in a Buyer’s Market
Many people either prefer or end up selling their homes in a buyer’s market. What this means is that there are more homes that are up for sale in any given city or community than there are people who are looking to buy homes. This can be a bad scenario for a seller who enters the market since it means that the buyer has more opportunities to choose from.