If you want to get a second mortgage so you can make renovations to your home, it can be difficult if you have poor credit.A second mortgage can use a home’s equity as collateral for a second
America Needs Your House
The biggest challenge in today’s real estate market is a lack of housing inventory. How big of a challenge is the housing shortage? Here are what four industry economists are saying on the issue (emphases added):
“The underlying fundamental issue is an overwhelming lack of supply… The supply of newly constructed homes is also sagging, adding to the supply challenges. Over the last eight years, housing demand has increased by 5.9 million, but the net new number of housing units has only increased by 3.5 million.”
“Everyone has been talking about tight inventory but I think we are OK calling it a straight up inventory crisis at this point. We just don’t have enough homes.”
“House prices today are higher than they were at the peak in the summer of 2006, near-record-low mortgage rates have boosted housing demand, and sales volume is robust. The spoiler is the lean inventory of houses for sale.”
“Listings in the affordable price range continue to be scooped up rapidly, but the severe housing shortages inflicting many markets are keeping a large segment of would-be buyers on the sidelines.”
If you are considering selling your house soon, now may be the time to get it on the market. The lack of competition could lead to a faster sale at a higher price. Find out what your Connecticut home is worth http://bit.ly/2rAckwg
I was born and raised in West Hartford, spent most of my summers on the Connecticut shoreline and Block Island. I had found my love for real estate in 1990 assisting my mother, before launching my car....
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The Pawcatuck Real Estate Market Report is a monthly statement of the average sales price, the median list price and the median price per square foot for Pawcatuck homes for sale.