Tag: buying power
Learn more about Memphis real estate.
There is no denying that we are in a purchase market, unlike anything we have seen before. The competition is so high it is more important than ever to stay focused and intentional when entering the market
Many homeowners have struggled with paying their monthly mortgage payments since the start of the pandemic. The Federal Housing Administration (FHA) provided a new extension that pushed the expiration date to the end of September.
The housing market has seen a fight for available homes from buyers all over the nation. The limited number of homes on the market put a persistent strain on buyers all year.
Mortgage rates have taken us on a roller coaster ride this year. A slight increase began as home prices grew due to the sustained low supply of inventory matched with high demand. With recent economic and pandemic uncertainty,
Housing inventory has been historically low. During the summer months, supply began to increase slightly. With new listings come more choices for homebuyers and more competition for sellers. Builders are doing their best to keep construction pace up to the demand for new inventory to arrive in the coming year.
In a seller’s market, appraisals can sometimes fall behind the fast-paced market and rising home prices. An appraisal gap is a difference between the actual appraisal and the contract price. Is it possible to avoid covering the gap?
