JJ Simon Real estate made easy

10/25/2021

Great property at an affordable price.

09/22/2021

From an article in Fortune magazine. “Where home prices are going next, according to forecast models
The COVID-19 housing market—underpinned by remote work, pandemic-induced low mortgage rates, and a demographic wave of first-time home buyers—has been among the hottest in the nation’s history. Since the onset of the crisis, median home list prices are up 23%.
Recently, some of that exuberance has finally left the market. Indeed, since bottoming out this spring, housing inventory is up 30% as some homebuyers start to balk at record prices and more sellers—who fear losing out on big gains—are listing. While the market is clearly still a seller’s market, it has inched a bit in buyers’ favor in recent months.
But what does softening in the housing market mean for home price growth?
The consensus among the industry’s forecast models is that we’re headed for slower, albeit still positive, growth. The weakest projection comes from real estate research firm CoreLogic, which is forecasting just a 2.7% appreciation in the coming 12 months. Meanwhile, John Burns Real Estate Consulting and Freddie Mac—which do calendar year forecasts—project home price growth of 4% and 5.3%, respectively, in 2022.
“Annual home price growth was the most that we have ever seen in the 45-year history of the CoreLogic Home Price Index. This price gain has far exceeded income growth and eroded affordability, wrote Frank Nothaft, chief economist for CoreLogic, in his latest market outlook report. “In the coming months this will temper demand and lead to a slowing in price growth.”
Already, we’re starting to see this slowing appreciation materialize in the market. Between April 2020 and April 2021, median home prices on Realtor.com skyrocketed 17.2%. But over the most recent 12-month period, that rate was just 8.6% year-over-year. While this represents numerical “softening,” it’s easy to imagine how it might not feel like it to the typical home buyer. After all, 8.6% is still well above most Americans’ annual pay bump.
How can home prices keep rising after posting such large gains? It all comes down to supply and demand. As Fortune has previously reported, we’re in the middle of the five-year period during which the largest chunk of millennials, those born between 1989 and 1993, are hitting their thirties—the age when first-time homebuying really kicks into gear. Meanwhile, housing supply is simply outmatched: Reeling from the 2008 housing bust, home builders spent the past decade playing it safe rather than aggressively building what this demographic wave would need. As a result, the U.S. is now under-built by around 4 million homes, according to a recent analysis by Freddie Mac.
But strong fundamentals don’t mean the market is free of risk.
The biggest wildcard is Federal Reserve Chair Jerome Powell. If inflation-concerned central bankers raise interest rates sooner than expected, it would translate into downward pressure on real estate prices.
The second unknown is tied to the end of federal pandemic protections. At the end of September, the mortgage forbearance program—which currently protects 1.5 million homeowners—will begin to wind down. Some of those struggling borrowers could opt to sell their home. The latest forecast by Zillow estimates 25% of those forbearance mortgage holders will list their home. While that would certainly increase housing inventory, it wouldn’t fundamentally change the current market. However, Zillow researchers write if they’re wrong, and it’s actually 50% of forbearance borrowers who list their homes, then the market would see “a significant deterioration from current conditions.”

Search real estate for sale, discover new homes, shop mortgages, find property records & take virtual tours of houses, condos & apartments on realtor.com®.

08/27/2021

So much to offer. Private acre lot with mature trees on a quiet street.
https://www.century21.com/property/700-s-concord-road-west-chester-pa-19382-C2182638902

Home for Sale by CENTURY 21 Real Estate:3 bed, 1 full bath, 1 half bath house located at 700 S Concord Road, West Chester, PA 19382 for $419,000. MLS #

05/20/2021

Are the love letters violating any rules???
Buying a home? Skip the 'love letter' to the seller https://www.cnn.com/2021/05/19/homes/love-letters-from-home-buyers/index.html

The housing market is so competitive, buyers are doing anything they can to get a home.

04/22/2021

Actually buyers are paying 10-20% over asking. Some $500 k houses are selling for $600 with no inspections.

04/17/2021

1. Chesterbrook
3. Devon
5. Berwyn
15. Charlestown Township
16. East Marlborough Township
18. Birmingham Township
21. Upper Uwchlan Township
26. East Whiteland Township
31. Exton
40. Thornbury Township
41. West Pikeland Township
49. Lionville

04/17/2021

Chesco Home to 12 of the 50 Best Places in Pennsylvania – and the Best Place in America – to Raise a Family

1. Chesterbrook
3. Devon
5. Berwyn
15. Charlestown Township
16. East Marlborough Township
18. Birmingham Township
21. Upper Uwchlan Township
26. East Whiteland Township
31. Exton
40. Thornbury Township
41. West Pikeland Township
49. Lionville

04/17/2021

A good realtor can make the difference. Let’s talk.

04/17/2021

What is a good color for your walls when you prepare your house up for sale?

04/15/2021

What size house do you want? What size do you need? Working from home or homeschooling — Might need more rooms and you think. A good realtor will be able to talk you through these issues.

04/09/2021

Living in a place that has great biking is what I’m looking for when I buy a house. What are your critical wants. A good realtor will discuss those things with you.

03/19/2021

https://www.parealtors.org/do-i-really-need-a-realtor/?utm_campaign=JustListed%20Articles&utm_medium=email&_hsmi=116735036&_hsenc=p2ANqtz-_HG57RQoSjOFwAa_Bacwu9bbUCE_1mGF_Hk0ZvVEB74ztEpwY36et_hCQNOXXmlxm7kpCdFYzU6Tserf6wKaOoJnAriA&utm_content=116735036&utm_source=hs_automation

"Buying or selling a home can be an extremely emotional and stressful time," said Joshua McKnight, president of the Tri-County Suburban Realtors®. "When things become too emotional, our ability to make good decisions gets clouded. Having an experienced professional that can negotiate on your behalf...

03/16/2021

Join us this year as a participant or Sponsor. press the link
https://runsignup.com/Race/PA/KennettSquare/TheKennettRun

Small town. Big race. Strong community.

By sponsoring or registering for the virtual Kennett Run 2021, you are giving back to so much more than just a run. Donations allow us to GIVE BACK to local services that provide FOOD and SHELTER for those in the Southern Chester community.

Consider sponsoring, donating, and registering and giving back to members of your community who are in need.

Link in bio for all details to sponsor, register or donate! Have any questions? Feel free to send us a message!

03/12/2021

03/10/2021

Great news for new home buyers. Let me tell you more. Contact me.

03/09/2021

DIY, sweat equity, hobby, or bored out of your mind therapy. All are good reasons to try a home project to improve the home. A good realtor can help you chose the best projects

03/08/2021

From the YMCA to home gym. Not sure when we shall all be back in the gym but you must stay fit and healthy. Home gym spaces are a hot commodity — Adds value to any property. @ Chester County, Pennsylvania

03/06/2021

Chickens and their coops have been very popular during the pandemic. Fun to watch and the eggs taste great. Many towns allow for a small backyard coop. Talk to me to know more.