Excerpt On The Housing Market From “Summer Of The Speed Buyer” By Lawrence Yun, Chief Economist For The National Association Of Realtors – Nar Magazine July/August 2021 Issue
“Could it all crash as happened from 2008 to 2010? Not likely. The current housing cycle is fundamentally different. We thankfully don’t have risky subprime mortgages that overstretched buyers’ budgets. The gatekeepers at banks, mortgage brokers, and government regulators demand that loan-to- value ratios, debt-to-income ratios, and income documentation meet guidelines before a mortgage is approved. To be sure, even with soundly written mortgages, we know some defaults can occur. A second major difference is supply. Leading up to the housing bubble heyday, builders overbuilt. By my calculations, America had 2.1 million surplus housing units by 2006. Following the crash, underproduction steadily chipped away at the surplus, such that inventory normalized by 2011. Continuing under production led to the housing shortage. By 2015, the shortfall was 2 million homes. By the end of 2020, it totaled 4.8 million homes. The lack of inventory is why home prices are in no danger of falling sharply. Homebuilding activity in 2021 will be slightly above historical norms. But it will take at least a few years to correct the massive shortage. In the meantime, we expect the national median home price to rise 9% this year and another 3% in 2022.”
Words Matter When Selling Your Home
The Best Ways to Pay a Mortgage Off Early
In a research study conducted in the early 2000’s, a Canadian professor found that homes where the seller was “motivated” took 15 percent longer to sell, while houses listed as “handyman specials” flew off the market in half the time. “It surprised even me,” said researcher Paul Anglin, who teaches real-estate and housing trends at the University of Guelph in Ontario, Canada.
Paying your mortgage off faster makes you more secure, simply because you don’t have to worry about losing the home if you can’t make the payments. It’s ideal for retirement to have your home paid off, since your income will drop. And paying early will save you tens of thousands of dollars in interest.
Other findings from the study: Words that denoted “curb appeal” or attractiveness helped a property sell faster than those that spoke of “value” and “price.” Homes described as “beautiful” moved 15 percent faster and sold for 5 percent more. “Good-value” homes sold for 5 percent less than average. And “must see” didn’t make any difference.
Even if you only knock 5 years off your mortgage, that’s 5 years sooner you can retire, or 5 years’ worth of payments you can use to enjoy retirement. Here are six common approaches to making higher mortgage payments. The best is the one you can stick to based on your lifestyle, income, and budget.
I couldn’t find a more recent study, but I bet many words would be similar today...except perhaps for “granite,” which was one of the top selling words for the late 90’s. How would you describe your home in a listing? Call if you’d like help.
1. Make an extra payment quarterly to make 4 extra payments/year. 2. Divide one payment by 12. Add that to each monthly payment to make one extra payment a year. 3. Pay half of your payment every two weeks, also known as bi-weekly payments. 4. Round up your payments so you’re paying at least a few extra dollars a month. 5. Increase your payment when you get a raise, bonus, or other windfall. 6. Refinance your mortgage to a shorter term, which raises your payment amount, but reduces interest.
What Happens At A Listing Consultation? Getting information is the first step to selling your home. During a listing appointment, we’ll talk about how and when you might want to list your home, what to expect when you get an offer, how long it will take, and what price to list at. We’ll also cover how to prepare your home for the market and answer all your questions. It’s an informative session! Call for an appointment.
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September. 2021 • Issue No. 29
Sports
Movie Releases
Featured Recipe
Baltimore Orioles at New York Yankees
New York Mets at Washington Nationals
September 3rd - 5th
Skillet Phyllo Pie
Shang-Chi and the Legend of the Ten Rings
Prep Time: 30 min • Cook Time: 45 min • Total time: 1 hour 15 min
Ingredients • • • • • • • • • • •
In Theaters September 3, 2021.
3 tablespoons olive oil 2 medium red onions, finely chopped ½ small butternut squash, cut into ¾-inch pieces 1½ teaspoons chopped thyme ½ teaspoon crushed red pepper flakes 1 bunch Tuscan kale 2 large eggs, beaten to blend 3 ounces Parmesan, grated 1 teaspoon grated lemon zest 8 ounces frozen phyllo pastry 4 ounces goat cheese or feta
Shang-Chi is forced to confront his past after being drawn into the Ten Rings organization.
Queenpins
In Theaters September 10, 2021.
A frustrated housewife and her friend hatch an illegal scheme that scams millions from corporations and delivers deals to fellow coupon clippers.
September 3rd - 6th
September 13th
Kansas City Royals at Baltimore Orioles
Washington Nationals at Atlanta Braves
Toronto Blue Jays at Baltimore Orioles
Washington Nationals at Pittsburgh Pirates
September 6th - 9th
September 10th - 12th
September 7th - 9th
September 10th - 12th
New York Yankees at Baltimore Orioles
Miami Marlins at Washington Nationals
Baltimore Orioles at Boston Red Sox
Colorado Rockies at Washington Nationals
Baltimore Orioles at Philadelphia Phillies
Washington Nationals at Miami Marlins
Texas Rangers at Baltimore Orioles
Washington Nationals at Cincinnati Reds
September 14th - 16th
September 17th - 19th
September 13th - 15th
September 20th - 22nd
Directions
September 23rd - 26th
2. Add kale, eggs, Parmesan, and lemon zest to mixture and mix to combine; season with salt and pepper. Layer phyllo inside the skillet. Spoon mixture into phyllo and top with goat cheese. Brush edges of phyllo with oil and fold over filling, overlapping slightly, leaving the center exposed.
Dear Evan Hansen
3. Cook pie until bottom is golden. Transfer to oven and bake until phyllo is golden and crisp. Let pie cool before slicing.
After We Fell
In Theaters September 24, 2021.
In Theaters September 30, 2021.
The story of a high school senior with a Social Anxiety disorder and his journey of self-discovery and acceptance following the suicide of a fellow classmate.
As Tessa makes the biggest decision of her life, everything changes. Revelations about family, make her and Hardin’s future together more difficult to claim.
Boston Red Sox at Baltimore Orioles September 28th - 30th
Kansas City Chiefs at Baltimore Ravens September 19th
Baltimore Ravens at Detroit Lions September 26th
September 17th - 19th
September 20th - 22nd
1. Preheat oven to 400°. Heat oil in an ovenproof skillet. Add onions and squash, stirring occasionally. Mix in thyme and red pepper flakes and let cool. Wipeout and reserve skillet.
Baltimore Ravens at Las Vegas Raiders
September 23rd - 26th
Washington Nationals at Colorado Rockies September 27th - 29th
Los Angeles Chargers at Washington Football Team September 12th
New York Giants at Washington Football Team September 16th
Washington Football Team at Buffalo Bills September 26th
Trivia Challenge
Things To Do Maryland Renaissance Festival
Anne Arundel County Fair
Hear ye! Hear ye! Leave your modern woes behind and step into 16th century Revel Grove. Every autumn, Lords and Ladies from faraway lands gather to experience this extravagant event!
Our Fair is not just a ride at the carnival, a meal from a food truck, a ride on a pony or a relaxing evening of entertainment. It’s a chance to enjoy company while making everlasting memories!
Sunflower Festival
Maryland Restaurant Week
September 4 - October 24, 2021. 1821 Crownsville Road, Annapolis, MD
September 6, 2021. 5620 Butterfly Lane, Frederick, MD
Enjoy the beauty of our 8-acre sunflower field with thousands of sunflowers in bloom! Come visit, pick your perfect sunflowers, take epic pictures, sip a local drink, and relax!
September 17 - 26, 2021.
Maryland Restaurant Week is back for its second year! For ten days, we’re bringing all counties and all restaurants together to celebrate and support our industry.
Wine in the Garden, Beer in the Barn September 23, 2021. 10520 Old Frederick Road, Woodstock, MD
Join the community to celebrate and support the environmental and preservation programs of Howard County.
Maryland Seafood Festival September 25 & 26, 2021. 1100 E College Parkway, Annapolis, MD
We’re celebrating over 50 years of food and fun at Sandy Point State Park with a weekend full of delicious seafood dishes, exciting competitions, kid’s activities, and more!
Picnic on the Patio
Out Of The Darkness Walk
Waterfront Wellness
Located on the patio of Cross Street Market in Federal Hill, this event will kick off the Fall season with live music and insta-worthy moments to showcase the Market’s newest mural.
This experience unites our community and provides an opportunity to acknowledge how suicide and mental illness have affected all our lives and the lives of those we love and care about.
Join us for free outdoor fitness classes designed to make health and wellness easy for our local community!
September 9, 2021. 1065 S Charles Street, Baltimore, MD
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September 15 - 19, 2021. 1450 Generals Highway, Crownsville, MD
September 18, 2021. 550 Taylor Avenue, Annapolis, MD
September. 2021 • Issue No. 29
September Trivia Challenge Question What Is A Group Of Ravens Called?
September 30, 2021. 1310 Point Street, Baltimore, MD
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Monthly Trivia Challenge Want to Win a $100.00 Visa Gift Card?
It’s easy to play! Answer the Trivia Challenge question on page 3. Each month, all correct entries have a chance of winning the gift card. It’s time all that seemingly random knowledge you’ve stored up is not so useless after all!
Want to Enter?
Email ClientCare@BREMove.com with the word “TRIVIA CHALLENGE” in the subject line. Good luck!
Last Month’s Question: The Dog Days of Summer are named after whom? Last Month’s Answer: Sirius, the star that’s part of Canis Major, the Greater Dog.
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Congratulations to Last Month’s Winner! Genevieve Macfarlane
www.BREMove.com
September. 2021 • Issue No. 29
