Here’s a quick digest of what happened in real estate finance last month:
+ Freddie Mac forecasts moderate house price growth of 0.7-1.3% in 2021-2022 with mortgage rates expected to average around 2.9% until year-end.
+ The difference between second homes and investment properties is important when it comes to financing. Sarah Kuta of Realtor.com explains why it matters and how to keep yourself aboveboard.
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By guest author: Christian Durland of Homeowner’s Blueprint
Here in Denver, Colorado, things have been quite exciting in the local world of Real Estate. While many other parts of the country are still struggling in terms of foreclosures and short-sales, and an over saturated Real Estate market, here in Denver, we’re actually enjoying some home appreciation with certain pockets of the Metro area going up into double digit appreciation rates over the last year, along with home inventories (homes currently being offered for sale) being at a 23 year low.
With all this positive news, many are now thinking that this maybe the right time to dive into Real Estate and purchase a new home, but many of those who are making this decision must also sell their current home before purchasing a new home, which is still (even though the market has “healed” quite a bit) not as easy as it once was before “mortgage meltdown” and the subsequent housing crisis of 2007-2010. Then there will be those, who will opt to retain their current home and convert it into a rental property, either by necessity, or because they choose to, however this transition may not be as simple as one might think either. (more…)