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Monthly Archives: August 2021

    What Buyers and Sellers Need To Know About the Appraisal Gap

    By Steven Padernacht | August 31, 2021

    It’s economy 101 – when supply is low and demand is high, prices naturally rise. That’s what’s happening in today’s housing market. Home prices are appreciating at near-historic rates, and that’s creating some challenges when it comes to home appraisals. In recent months, it’s become increasingly common for an appraisal to come in below the contract price on... Read More

    The Difference in Net Worth Between Homeowners and Renters Is Widening

    By Steven Padernacht | August 30, 2021

    Becoming financially secure is an important goal for many people today, but some don’t realize just how much homeownership can help them achieve that dream. A recent report, The Journey Toward Financial Freedom, surveys Americans about their perspective on financial wellness and their goals. It shows there may be a significant misconception about the role owning a home plays... Read More

    Your Checklist To Get Ready To Sell [INFOGRAPHIC]

    By Steven Padernacht | August 27, 2021

    Some Highlights When it comes to selling your house, you want it to look its best inside and out. It’s important to focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal for prospective buyers. Let’s connect to make sure your house shows well and catches a buyer’s eye. Read More

    If Housing Affordability Is About the Money, Don’t Forget This.

    By Steven Padernacht | August 26, 2021

    There are many non-financial benefits of buying your own home. However, today’s headlines seem to be focusing primarily on the financial aspects of homeownership – specifically affordability. Many articles are making the claim that it’s not affordable to buy a home in today’s market, but that isn’t the case. Today’s buyers are spending approximately 20% of their income on... Read More

    Why 2021 Is Still the Year To Sell Your House

    By Steven Padernacht | August 25, 2021

    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,... Read More

    What To Do with Your Vacation Home as Summer Ends

    By Steven Padernacht | August 24, 2021

    As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021. If you’ve taken your last vacation this summer, here are... Read More

    What Do Experts Say About Today’s Mortgage Rates?

    By Steven Padernacht | August 23, 2021

    Mortgage rates are hovering near record lows, and that’s good news for today’s homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison.Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with... Read More

    SMP TV- Episode 5? Living in Riverdale

    By Steven Padernacht | August 21, 2021

    This week we take a deep dive into #theriverdaleproject run by Danny Monge. This project is all about giving back and community at a hyper-local level. Danny and his crew of volunteers goes throughout Riverdale thanking essential workers by bringing them lunch, posters and positive vibes. Hear his story of why he does what he... Read More

    Options for First-Time Homebuyers [INFOGRAPHIC]

    By Steven Padernacht | August 20, 2021

    Some Highlights With a housing market this competitive, sometimes you have to think outside the box. Work with your trusted real estate advisors to do things like assess your budget, expand your search radius, look into other options, and determine your true needs. If you’re having trouble finding your first home, let’s connect to explore your options. It’s out there! Read More

    More Young People Are Buying Homes

    By Steven Padernacht | August 19, 2021

    There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief. Odeta Kushi, Deputy Chief Economist for First American, explains why millennials have put off certain milestones linked to homeownership. Those delays led to their homeownership rates trailing... Read More