We’ve been getting a lot of questions from friends who are wondering if we’re heading into another housing bubble. While we can’t predict the future, we do spend a lot of time researching the market and seeing what economists are predicting. One thing to keep in mind is that our current market is drastically different from our market in 2006-2008. We have an extremely low supply of inventory in the majority of the country (meaning there are more buyers looking for homes than there are homes for sale). Secondly, homeowners have a substantial amount of equity.
There are also higher standards for loan qualification today than there were in 2006-2008 and at the same time, there are a lot of buyers on the market right now who want to take advantage of our historically low interest rates. If you’re considering leveraging the equity in your home while also taking advantage of low interest rates, let’s chat! We can put together an equity analysis based on your home’s current market value vs what you owe.
Cheers!
Lisa & Sammi
