Andy Medina - Las Vegas Realtor

  Mortgage Rates Are Stabilizing – How That Helps Today’s Buyers Over the past few years, affordability has been the biggest challenge for homebuyers. Between rapidly rising home prices and higher mortgage rates, many have felt stuck between a rock and a hard place. But, something pretty encouraging is happening. While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months. And that may finally make it a bit easier to plan your move. Mortgage Rates Have Stabilized – For Now Over the past year, mortgage rates have had their share of ups and downs, making it tough for buyers to know what to expect. But recently, rates have started to level out and have settled into a more narrow range ( see graph below ): As the graph shows, rates have stayed within that half-percentage-point since late last year. Yes, there’s been movement within that range, but wild swings and sudden ups and downs just haven’t been the story lately. And that’s a bigger deal t...

  The Truth About Where Home Prices Are Heading There are plenty of headlines these days calling for a housing market crash. But the truth is, they’re not telling the full story. Here’s what’s actually happening, and what the experts project for home prices over the next 5 years. And spoiler alert – it’s not a crash. Yes, in some local markets, prices are flattening or even dipping slightly this year as more homes hit the market. That’s normal with rising inventory. But the bigger picture is what really matters, and it’s far less dramatic than what the doom-and-gloom headlines suggest. Here’s why. Over 100 leading housing market experts were surveyed in the latest Home Price Expectations Survey (HPES) from Fannie Mae . Their collective forecast shows prices are projected to keep rising over the next 5 years, just at a slower, healthier pace than what we’ve seen more recently. And that kind of steady, sustainable growth should be one factor to help ease your fears about the years ...

  Selling and Buying at the Same Time? Here’s What You Need To Know If you're a homeowner planning to move, you're probably wondering what the process is going to look like and what you should tackle first: Is it better to start by finding your next home? Or should you sell your current house before you go out looking? Ultimately, what’s right for you depends on a lot of factors. And that’s where an agent’s experience can really help make your next step clear. They know your local market, the latest trends, and what’s working for other homeowners right now. And they’ll be able to make a recommendation based on their expertise and your needs. But here’s a little bit of a sneak peek. In many cases today, getting your current home on the market first can put you in a better spot. Here’s why that order tends to work best (and how an agent can help). The Advantages of Selling First 1. You’ll Unlock Your Home Equity Selling your current home before you try to buy your next one allow...

  What You Should Know About Getting a Mortgage Today If you’ve been putting off buying a home because you thought getting approved would be too hard, know this: qualifying for a mortgage is starting to get a bit more achievable, but lending standards are still strong. Lenders are making it slightly easier for well-qualified buyers to access financing, which is opening more doors for people ready to make a move. So, if strict requirements were holding you back, this shift could be the opportunity you’ve been waiting for, without repeating the risky lending practices that led to the housing crash back in 2008. Lenders Are Opening More Doors Banks are offering credit to more people in an effort to boost activity in the housing market, including buyers who have lower credit scores or smaller down payments. And that means more people are getting approved for mortgages. But it doesn’t mean we’re heading for another crash like 2008. Even with the slight easing lately, lending standards t...

Think No One’s Buying Homes Right Now? Think Again. If you’ve seen headlines saying home sales are down compared to last year, you might be thinking – is it even a good time to sell?   Here’s the thing. Sure, the pace of the market has cooled compared to the frenzy we saw just a few years ago, but that’s not a red flag. It’s a return to normal. And normal doesn’t mean nothing’s happening. Buyers are still out there – and homes are still selling. Why? Because real life doesn’t pause for perfect conditions. There are always people who need to buy – and this year is no exception. Buyers who are in the middle of a big change in their lives, a new marriage, a growing family, or a new job still need to move, no matter where mortgage rates are. And they may be looking for a home just like yours. Every Minute 8 Homes Sell Let’s break it down using the latest sales data from the National Association of Realtors (NAR). Based on the current pace, we’re on track to sell 4.03 million homes th...

  Why Big Investors Aren’t a Challenge for Today’s Homebuyer Remember the chatter in the headlines about all the homes big institutional investors were buying? If you were thinking about buying a home yourself, you may have wondered how you’d ever be able to compete with that. Here’s the thing. That’s not the challenge so many people think it is – especially right now. Let’s break down what’s really going on and why the recent shift in the approach investors are taking could tip the scales in your favor. Large Investors Are Pulling Back The truth is institutional investors never represented as big a share of the housing market as people think. And now, they’re backing off even more. Today, big real estate investors aren’t buying as many homes. In fact, they’re actually selling more than they’re buying. According to data from Parcl Labs , 6 out of 8 of the largest institutional single-family rental investment companies in America sold more homes than they bought in the second quart...