Posts with tag 'First-time Home Buyer'

If you've been hesitant to list your house because you're worried no one's buying, here's your sign it may be time to talk with an agent.

After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022. And while they don't control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower

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he Las Vegas Valley Real Estate Market is heating up, well ahead of projections (which were already positive for 2024). Pending sales rose over 44% from Dember to January and are up a staggering 14.6% year over year, all of this before the Fed has even met in March where many experts expect them to lower interest rates.

The median price (across all property types: Single Family/Townhome/Condo) in Las Vegas/Henderson is also up 5.7% year over year with an average sales price up 9%, all despite a slower than normal 2023 for total transactions. The continued rise in prices is largely due to low inventory as well as the still high number of both individuals and businesses moving to the Las Vegas Valley from other higher priced surrounding states. With interest rates likely headed down and no sign of any large jumps in inventory, these general trends are expected to continu...

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Some Experts Say Mortgage Rates May Fall Below 6% Later This Year

There's a lot of confusion in the market about what's happening with day-to-day movement in mortgage rates right now, but here's what you really need to know: compared to the near 8% peak last fall, mortgage rates have trended down overall.

And if you're looking to buy or

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Strategic Tips for Buying Your First Home

Buying your first home is a big, exciting step and a major milestone that has the power to improve your life. As a first-time homebuyer, it's a dream you can make come true, but there are some hurdles you'll need to overcome in today's housing market – specifically the limited supply of

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December brought with it some excellent signs for the market, and more good news on interest rates than we've seen in the past year and a half. While the FED has not actually lowered their prime interest rate, they have signaled that they intend to lower interest rates 3 to 4 times in 2024 with the first one expected in March. Despite the fact that the prime rate has not actually been lowered, mortgage interest rates have already moved down around a full percentage point from November, brining an average savings of $400 per month to buyers on a median priced mortgage. This has already led to a rise in pending sales in December, despite the holidays, a great sign that activity is likely to continue to pick up earlier than normal this year.

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