76 degrees, lovely strong breeze… New England springtime is peak enjoyment
(and its real estate market agrees).
This Month’s Theme:
If you have turned on the TV in the past year, you have seen commentary on high housing prices. The low interest-rate environment, more people staying at home due to Covid, and folks moving out of cities have all played large roles in the real estate market in the past year.
Buying and selling a home is one of the biggest transitions an individual or family can make and one of the questions we get asked most about as financial planners. Is now the right time to buy? Where is the current housing market in relation to the history? How can I make a competitive offer? All important questions, and we offer some diverse perspectives below.
How Today’s Real Estate Market
Is Different From 2008
Whenever we see a huge boom in housing prices, a naturally-arising concern is should we expect a massive crash. Well, the underlying set-up for the current market has an entirely different feel than in 2008.
Today’s market is propped up by lack of inventory or supply. It is unusually difficult to even get approved for a mortgage currently. This is the mirror opposite to what we saw in 2008, when we had sub-prime mortgages and everyone could get one, even if they did not have the income to support it.
Real Estate Contemplations from Carlisle
How to Buy a Home in a Sellers’ Market
For those of you who have decided now is the right time to buy, there are a few helpful tricks and tips to stand out from your competitors.
Buying Vs. Renting
The American-Dream story conveys that owning is the best way to accumulate wealth, but is that really true in all circumstances? It might surprise you that it makes sense to continue renting if you fall into any of these situations.