Your Most Pressing Questions Answered: The Economy, The Market & More

Are we headed for a real estate crash?

Let’s face it—today’s housing market is still red hot. Low mortgage rates, stable home prices, and a competitive buyer’s landscape have given sellers an edge.

The current market’s success has led many to question the long-term impacts of where we are. I hear our friends and family typically ask one of the following:

  • Are we in a real estate bubble that’s bound to pop?
  • Which markets are struggling right now?
  • How much of the market’s success is based on low interest rates?

Whether you have questions about your current home’s equity or you’re curious about buying a home in this competitive market, I’m diving deep to help you make informed choices.

THE PANDEMIC WAS HARD ON THE ECONOMY,
YET THE HOUSING MARKET CONTINUES TO GROW.

How long can this last?

People who ask me this question may also be wondering if they should buy a home at all. They may be concerned that a future bump in the market will hurt their long-term investment.

The mortgage and real estate industries showed serious resilience last spring when the pandemic changed how the mortgage industry does business. Even with so many changes and restrictions, demand for real estate increased. In fact, the average home price was up 13.4% from the previous year while days on the market were 13 fewer than in 2019.

Inventory is still low enough to keep sellers at an advantage. For buyers, low rates have put homeownership within reach. Therefore, both the spring and summer seasons are poised to continue the market’s upswing.

Our advice to buyers is to prepare for a competitive market:

– Get preapproved for a mortgage as early as possible
– Have all required paperwork submitted correctly and on time
– Let me help you find a qualified Realtor® to guide you
– Be prepared to act quickly

Buying a home is stressful enough, let alone in this tight market. Let me help you get the keys in your hand.

I help buyers get ready for their journey into homeownership by offering expert support. Contact me with any questions you have about how to get started buying a home.

Are we living in an economic climate like 2008?

The current economic situation is very different than in 2008, and the strength of the current housing market is largely to thank for that.

Because of lessons learned in 2008, banks are better funded and homeowners are holding more accrued equity – and, crucially, much of the economic activity is focused on financial factors outside the housing market.

As many industries quickly pivoted to work from home, early fears of widespread job loss-related foreclosures have failed to materialize. Federal stimulus payments and the Paycheck Protection Program also helped offset some of the shutdown’s early effects.

So, are we in a real estate “bubble” or not?

A real estate bubble can occur when there is a rapid and unjustified increase in housing prices.

Because the bubble is (in a sense) filled with “hot air,” it pops—and a swift drop in value occurs. This leads to reduced equity or, in some cases, negative equity conditions.

Thankfully, the current market is operating very differently, and the principle of supply and demand is working just as it’s supposed to do.

Why?

Because the current market’s increased home prices are a predictable result of historically low interest rates.

Further softening any economic bumps in the road, an even stronger seller’s market throughout the remainder of the year is expected.

This should allow supply to gradually rise and fulfill demand, slowing the inflation rate for home values and offering a gentle correction where needed.

Bottom line – if you’re thinking of buying, selling, or refinancing, there are good reasons to consider doing it now.

Schedule your Annual Mortgage Review

Stay informed. Stay financially healthy.

You have checkups every year for your health, your pets and your vehicles – now we recommend one for your finances and homes, too!

What’s a Mortgage Review?
I will work with you and review your monthly payment in detail, including your credit, mortgage insurance (if applicable) and income. Next, we’ll discuss any available options. During your mortgage review, you might discover opportunities that could give you greater financial flexibility and help you save!

What Low Inventory Means for the Housing Market Going Forward

Keep these things in mind when thinking about the low inventory present in today’s housing market:

– Low interest rates & increased vaccinations will bring out even more buyers
– New home construction will help meet demand
– Sellers still have the upper hand
– Working from home has increased demand as more people seek versatile spaces

There are sectors of the housing market that are not experiencing low inventory. In these cases, the lack of available homes is producing new opportunities for relocation.

With the first vaccine rollouts, renters have begun returning to major urban centers, attracted by the sudden rise in available inventory and newly discounted rental rates. This has led some buyers to reconsider buying condominiums.

I Say It All the Time Because It’s True: It’s a Seller’s Market!

I might sound like a broken record…

But when something’s true, you’ve got to share it.

As a homeowner, you have plenty of options right now. You could take advantage of low rates by refinancing, or you could also sell for a favorable price in a high-demand housing market. Even better is that you’ll likely have buyers competing for your home.

Getting ready to sell means more than just packing boxes.

Please remember that you should be ready to sell. By this, I don’t just mean cleaning and staging your home for success.

The fast nature of the current market highlights the importance of being mentally and emotionally ready to sell. Things can move quickly, and you may find yourself going under contract sooner than you think. From there, it’s only a matter of time until closing day.

Take these steps to ensure that you’re prepared to sell with success:

– Pause before you leap. Have you lived in your home for a long time? If your home has sentimental value, give yourself and your family some time to process what this transition will mean.

– Lean on the pros. Do you need help packing or cleaning? Ask for help or hire a professional. Don’t forget about your listing agent, who will guide you on moving the process along.

By mindfully approaching the sale of your home, you’re setting yourself up for success. There’s nothing better than moving forward with the confidence that you made the right decision. Invest in yourself, and it will pay off.

What every buyer should know

– Get preapproved. This one’s a no-brainer. Without evidence of financing, you won’t get very far in today’s housing market. Contact me to get the process started!

– Make sure your financing is air-tight. Inventory is low, which means any hiccup with your loan could get you passed up for another qualified buyer. Let’s work together to ensure the strength of your financing so that you can get ahead.

– Get ready to move. Fast. If your offer gets approved, then it’s all systems go. Sellers are motivated to keep it moving, so it’s best to act when the time comes.

– Your mindset is key. Are you organized? Is your current home or apartment packed up? You Realtor and I can work together to review your situation and guide you towards a smooth purchase of your new home.

The smart way to home shop.

Get pre-approved for a mortgage today!

If you’re considering buying a house, you’re probably wondering how much you can afford. The last thing you want is to fall in love with a house that ends up being out of your budget. Or even worse, to seal the deal on a house you can’t comfortably afford.

A lot of online calculators claim that they can tell you how much you can afford, but for most homebuyers, what they end up qualifying for is often less (or different) than what their calculator guessed. So what’s a more accurate way to figure out your budget? Getting a pre-approval letter from an actual mortgage lender.

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"2020 will be known for a lot of things, and a record-breaking year for real estate will certainly be one of its more unexpected legacies." —Daryl Fairweather, Economist Most of us would have expected the housing market to suffer from circumstances like a once-in-a-hundred-years pandemic and historic inventory shortages. But, rather than a...

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Is FHA Dead?

With so much hoopla surrounding changes “made” to FHA over the last few months, I want to touch on a few items before I address other misconceptions.The FHA loan is a loan that you get from a mortgage lender that is guaranteed by the Federal Housing Administration. My very first loan was an FHA loan. FHA loans have long been misunderstood by...

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Read what others have to say

Testimonials

Kris G
{From start to finish a fantastic crew. I highly suggest using Brian and Team for any of your needs. It is hard to find somebody so knowledgeable and helpful, we are very pleased!!!!
Kathie C
{Best service great people to work with. All the team were extremely helpful I would recommend them for any of your house buying needs!
Alicia D
{We had a wonderful experience working with Russ and team Hunton! They recommended a fantastic realtor and made it all quick and painless. Closing got pushed back because of COVID-19 but they were highly responsive and knowledgeable with all of our questions. I highly recommend them!
JAMES C
{This is the second time I have used Brian and team I would recommend them to anyone they are very helpful and knowledgeable. I used them for my first home and now to refinance and will continue to use them in the future.
Jessie V
{My husband and I could not be happier with our experience. Russ and Christina were amazing to work with. They were there at all of hours of the day and night to always answer any questions we had. I wish I could have given this review 10 stars and would definitely recommend them to anyone.
Kara L
{Brian, Amanda, Russ, and Tristan are amazing to work with. They are in constant communication throughout the entire mortgage process and keep everyone involved updated on a weekly basis. They work extremely hard to make sure things get done when they need to and always have their client’s best interest in mind. They are a very competent group and extremely knowledgeable in their field. I highly recommend them!
Patrick O
{Great from start to finish, very responsive, knowledgeable, and professional. Extremely helpful with the entire process. Highly recommended. Tristan and Christina are wonderful. Thanks so much!
Chad S
{Brian and his team are dedicated and focused on what will work best for the customer. I am very pleased with everything they have done for me. Thank you so much for all the hard work and time you guys spend.
Laurie O
{Brian explained everything so clearly. He was always available to answer any questions that I had. He is very knowledgeable and accommodating. He was able to close our loan in a very short time period. And did all the work for us. His team made it easy for us. I would use them again and highly recommend them!
Christina D
{Brian and his team made our home buying process so much easier than expected. This was our 3rd time buying, so we know how stressful it can, and is, buying a home. They were always very professional, and kept us, our realtor, and the seller’s realtor informed. He is very knowledgeable about the process and all of his team replies back to you promptly through email, phone, and text. We would recommend them 100%.
Tom W
{Without Brian and his team, we would not be homeowners. Plain and simple. Brian and the team worked hard, both behind the scenes and in front of us, to make our mortgage happen. They were there quickly, any time we needed to answer any questions. I will happily recommend that Team Hunton to friends and family for their mortgage, whether it be first or hundredth.
KMH
{Brian and his team provided me with an endless amount of patience and guidance. They answered every email and phone call within minutes and were always steps ahead of the entire process. They have a great reputation in the industry, and I would recommend them to anyone purchasing or refinancing a home.
Gina G
{Brian and his team are truly the best. They got back to me quickly and offered me the best loan options. They listened to what I wanted and offered advice accordingly. I would recommend them to anyone.
Mike L
{Working with Brian and his team was a great experience really good people to work with extremely helpful and understanding. They answered questions in a timely manner and were always friendly to deal with. Would absolutely recommend Brian and his team to anyone buying a house.
April D
{Brian and his team went above and beyond what was expected of them to help make a stressful and difficult family transaction go as smoothly as possible. They always had answers and were quick to get back to us no matter time of day or week. I highly recommend him and his team if you’re in the market for a mortgage.
Jennifer F
{MBA Mortgage was awesome. They sure did a lot of work for us and kept reassuring us that things would work out. They were right and things finally came together, and we could not be happier to be moving into our new home. It’s been over a year now and they still periodically check in to make sure things are still going well. We have recommended them to several of our friends. Wonderful and caring people.
James
{This is the second time I have used Brian and team I would recommend them to anyone they are very helpful and knowledgeable. I used them for my first home and now to refinance and will continue to use them in the future
The Rival Family
{I would definitely recommend MBA Mortgage to anyone on need of financial services they offer! We have hired MBA mortgage to buy and then again to refinance our home! We chose to use MBA Mortgage a second time based on their professional and accurate work. My answers were always answered promptly, and in great detail if I needed further explanation. I would recommend MBA Mortgage to anyone seeking services they offer!
H Worsham
{I really liked working with Team Hunton. They did a great job in keeping us informed of what was going on and information that they needed to make the whole process go as smoothly as possible, during the Corona Virus. Would highly recommend this team of professionals.
F.
{Brian and his team were great to work with. They were on top of everything and eliminated the stress involved with buying and selling our houses in regard to the financing aspects.
James
{Could not have been more satisfied with the team. I used Brian as a first-time home buyer made the process extremely easy extremely helpful throughout the process. Very quick to respond with any question I’ve had during the process.
Sara S
{We refinanced with the help of Brian and Amanda, and again, were very satisfied with the personal customer service we received. They are always looking out for our best interests and are incredibly quick to follow up to any of questions or concerns. I would not hesitate to recommend them.
Dan S
{Could not have asked for a better team. They were quick to answer questions and even quicker in seeing the process through to the end. I would highly recommend Team Hunton to anyone who is looking to buy a house or refinance.
Amy M
{I am very happy to work with Brian and his team! Brian provided me with an investment vehicle that is flexible and makes economic sense. He answers all of my questions quickly and made the process very easy. He is an integral part of my investments.
Rani C
{What a process! There were a few times during this home buying purchase I WOULD have been hyperventilating into a paper bag... if not for the MBA Mortgage team. This is my first time purchasing through MBA Mortgage and I found the experience personal, safe, and will highly recommend them!
Chris E.
{I fully recommend Brian and his team. They made the (what I thought would be) nightmare process of buying a home a smooth and seamless process. Brian and his team are extremely knowledgeable, and they made me feel at ease during the entire process. I could not have asked for things to have gone any better.
Laura
{Brian and his team were great through my home buying process. They were very professional. Always there to answer any questions. This is my first homebuying experience, and they were beyond great. I would highly recommend Brian and his team.

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CONTACT TEAM HUNTON

392 S. Main St.
Athol, MA 01331

50 Elm Street, Ste 8
Worcester, MA 01609

Phone:
978-575-3053

Fax:
888-225-4341

OUR LICENSES

Licensed Massachusetts Mortgage Broker

MBA Mortgage Corporation Athol Branch
#401084- License #MB2880-100

Licensed by the MA Division of Banks

License #MB2880

Licensed by the NH Banking Dept

License #11440-MBR

Licensed by the RI Division of Banking

License #20072210LB

Licensed by the Dept of Housing & Urban Development

License #28012-0000-2

NMLS #2880

FHA Approved Broker