Since hitting a peak in June 2022, home prices have fallen by 3% to 5% on average. While this is the second-biggest home price correction since the 1950s, it's still mild when compared to the 26% drop in prices between 2007 and 2012.
You did it—you saved for a down payment and closing costs, worked on your credit score, determined how much house you can afford, got pre-approved, and became a first time homebuyer. We’re exhausted just listing all you’ve accomplished! You should be proud of yourself—very proud of yourself.
According to many industry experts, 2023's outlook for home buyers is the best it's been for three years.
If you or your loved ones have been impacted by a hurricane, our hearts are with you. We encourage you to make the best decisions for your safety and well-being as information becomes available. Storms like this demand our respect and attention.
High inflation is no fun. Though everyone pays the same higher prices, periods of rising inflation don’t have the same impact on all Americans. A person’s investment strategy—including real estate, investments in the stock market and S&P 500, and their retirement plan—can be a good inflation hedge.
Higher interest rate environments can make it difficult to buy a home, but there are silver linings and workarounds. The good news is that higher interest rates often mean less competition, lower prices, and eager sellers. These sellers can be more willing to consider concessions than they would have been in a hotter market. Today you may be able to negotiate who pays for many closing costs, including mortgage discount points.
January 1 is coming up fast, and you know what that means: It’s time to set new year’s resolutions! For many people, the turning over of the calendar will involve financial new year’s resolutions.
Interest rate buydowns are becoming increasingly popular as mortgage interest rates remain above 6%.
Here's how a buydown can make your home purchase affordable during the first years of a mortgage's term, or for the life of the loan.
Seller concessions almost never sound like a very good idea…to the home seller. For the prospective buyer, on the other hand, a little give here and there may be just what they need to close the deal and pay full asking price for your home. One of the most popular seller concessions in any real estate market is an interest rate buydown.
The holidays are all about festivities, food, and family. We’re thankful every day for our extended APM family, which includes our clients.
We hope the holiday season has been full of the 3Fs, with a healthy dose of fun thrown in.
In the spirit of the holidays, APM asked its employees to share their favorite holiday family recipes. These were turned into an APM family cookbook, and we’d love to share a little slice of that with you now.
In addition to low inventory, the housing market has encountered a newer challenge: rising mortgage rates, which hit 7% recently. This has caused problems for would-be and move-up homebuyers alike.
Thanksgiving was one of America’s most cherished festivities even before George Washington began celebrating it in 1789. However, it wasn’t always held on the fourth Thursday in November. That happened in 1846, when Sara Josepha Hale campaigned to make Thanksgiving a national holiday that would be held on the last Thursday of November.
The housing market isn’t what it was a year ago—and that’s not necessarily a bad thing. Yes, interest rates are higher year over year, but in many markets, prices are decreasing or, at the very least, not increasing at the breakneck pace we’ve seen.
It's Military Family Appreciation Month, and we wanted to take this opportunity to highlight our very own #APMFamily who have served our great country and now work to help other military families and veterans realize their dreams of homeownership.
Elliot Eisenberg is back with information on where we are, what's coming and why rates are on the move.
A down payment and monthly mortgage payment aren’t the only costs you’re looking at when buying a new home. Some buyers forget that they will also have to pay closing costs.
Housing budgets are serious discussions because homes are serious investments. Home buyers expect to pay a down payment when buying a home. That amount can range based on qualification and the amount of assets available. Down payments start as low as 3% and can go as high as needed to get the payment at that comfort level.
APM Consulting Economist Elliot Einsenberg is here with this month's economic update, and the hot topic is inflation and what the Fed is doing to curb it. The rising costs of food and cars, coupled with continued supply chain shortages, have pushed the Fed to making moves to stop inflation as quickly as possible.
So, what's next for consumers?
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