The Stiver's Show: Collaboration, Differentiation & the Current Market

I had the honor of being a guest on The Stiver's Show! The Stiver's Show is hosted by Attorney Justin Stivers who is a premier probate attorney in South Florida.  

In this episode, I discussed the importance of how collaboration in real estate leads to success, how to differentiate yourself as the realtor of choice in a very saturated market, and the state of our current real estate market. Be sure to watch the episode to learn more!

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Are you in the market to purchase a new home or sell your existing home? Do you need assistance with a probate sale? Want to discuss your real estate needs? Contact us today. Schedule your consultation below.

 



New Home Mortgage Applications Increased 31% in U.S.

By David Barley, World Property Journal on May 20, 2021 at 8:15 AM

The latest Mortgage Bankers Association Builder Application Survey for April 2021 shows U.S. mortgage applications for new home purchases increased 30.8 percent compared from a year ago. Compared to March 2021, applications decreased by 9 percent. This change does not include any adjustment for typical seasonal patterns.

"Purchase applications for new homes, unadjusted for typical seasonal patterns, declined in April, but the average loan size increased to its highest level in MBA's survey," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "The purchase market remains strong overall, but low housing inventory and accelerating home prices have started to adversely impact purchase activity. Additionally, homebuilders have reported significantly higher input prices, which is contributing to the ongoing rise in sales prices and average loan sizes."

Added Kan, "Adjusting for these seasonal effects, MBA estimates that new home sales in April rebounded from a two-month slump, increasing 8 percent to an annualized pace of 770,000 units. While still strong, this sales pace remains below the 877,000-sales pace seen in the second half of 2020."

MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 770,000 units in April 2021, based on data from the BAS. The new home sales estimate is derived using mortgage application information from the BAS, as well as assumptions regarding market coverage and other factors.

The seasonally adjusted estimate for April is an increase of 7.8 percent from the March pace of 714,000 units. On an unadjusted basis, MBA estimates that there were 72,000 new home sales in April 2021, unchanged from March.

By product type, conventional loans composed 72.9 percent of loan applications, FHA loans composed 15.8 percent, RHS/USDA loans composed 1.0 percent and VA loans composed 10.3 percent. The average loan size of new homes increased from $374,353 in March to $377,434 in April.