Hi peeps, below is a monthly roundup of our favorite articles and information that we’ve come across recently.
First is a video from 1981 where the newscaster is talking about mortgage rates and how they are impacting buyers. A few people are interviewed in it and what they say is pretty interesting. Second is an Instagram post we read recently which addresses the scenario of a housing crash. In it, he gives 3 reasons why the housing market will not be crashing anytime soon. And third is a new tool we learned about from the IRS which helps you estimate your federal income tax withholding and also lets you see how your withholding will impact your refund, take home pay, taxes due, etc.
And on another note, we recently started curating a list of attractively priced listings that we’re seeing every week, it’s called “Real Estate Deals of the Week”. Now that demand has fallen and rates have risen, we’re starting to see some pretty good deals out there. So, if you’d like to get this list in your inbox, please email us at firstname.lastname@example.org.
Real Estate in 1981
We recently saw a video from 1981 where the newscaster was talking about mortgage rates and how higher rates were impacting home buyers. Now, this is obviously not a comparison to what we’re seeing now because although rates were much higher back then (15-16%), home prices were much lower. Still, one of the people in the video makes a good point stating that “if you have to buy a house and that’s what the mortgage rates are, you just have to accept it.” That’s a very blunt way of saying it but it does remind us that we should remember to focus on things we can control. In other words, if you have everything lined up (down payment, credit, income, etc) and you strongly desire to buy a property, then you just need to come to grips with the reality of the market and strategize accordingly. There are opportunities in every market, and the good thing is that when it comes to holding real estate long term, the home price trend is up and to the right.
Will the Housing Market Crash this Year?
We have friends and family members who talk about the market crashing, but the one thing that many people don’t understand is that the underlying fundamentals of the market are still pretty strong. A lot of it is due mainly to the fact that inventory is so low but this instagram post we read recently gives a pretty good breakdown of why. Check it out and let us know your thoughts.
In short, if you’re waiting for a housing crash, you may not see it anytime soon. Our suggestion is always to look at your own personal circumstances and financials, then decide if you are able to afford a property. If yo’re able to get pre-approved and comfortable with the estimated monthly payments, then it doesn’t hurt to get out there and see what type of property you can find. This is the first year in many years where we are starting to see some good deals popping up so it’s definitely a good time to be on the hunt. We actually started curating a Real Estate Deals of the Week list recently because of all the attractive deals we’ve been noticing. If you’d like to get added to the list, please send an email to email@example.com.
IRS Tax Withholding Estimator
We recently learned about a tool that the IRS has on their website called the IRS Tax Withholding Estimator. It helps you estimate the federal income tax you want your employer to withhold from your paycheck. The tool also lets you see how your refund, take home pay, and tax due are affected by the withholding amount. Now that tax season is over, this is a good time to revisit your tax withholding and make sure you have it set up the way you want.
Well, that’s it for this month. If you have any questions or need any real estate help, please don’t hesitate to Contact Us 🙂