The title of the 41st episode of the Martini Mortgage Podcast is called the Noise of the Housing Market. Kevin Martini is not just the host of the Martini Mortgage Podcast, he is also the Branch Manager and Senior Mortgage Strategist with the Martini Mortgage Group at Benchmark Mortgage which is located in Raleigh, North Carolina.
In recent months there has been a positive shift housing inventory and we have also seen a movement in home loan rates too. Because of the mortgage rate movement and increase in inventory there is a ton of noise being created but let us let us see with the Mortgage Bankers Association, Fannie Mae and the National Association of Realtors® say about existing home sales in 2019. 2 out of 3 of them forecast existing home sales will be greater in 2019 as compared to 2018. 1 out of 3 forecast that existing home sales will be exactly the same in 2019 as they were in 2018. 0 out of 3 forecast a decline in existing home sales in 2019 as compared to 2018.
According the Federal Housing Finance Agency the year-over-year change in price in the U.S.A. on average was +6.34%. In the South Atlantic Region it was +7.15%. In North Carolina, the year-over-year change in price was +7.7%.
It is Kevin Martini’s opinion that the Home Price Expectation Survey provides the best educated guess on future home values. The Home Price Expectation Survey is where a distinguished panel of over 100 economist, investment strategist and housing market analyst are asked for their 5-year expectations. It is not one company or one persons opinion…that is why Kevin Martini feels it provides the best forecast. The graphic below represents what would happen, based on the predications of the Home Price Expectation Survey if one purchased a home valued at $250,000 in January 2019 over the next 5-years solely based on appreciation.
The Martini Mortgage Podcast is released on all streaming services every Tuesday. Episode 41 of the Martini Mortgage Podcast was released on February 5, 2019. Below is a quick access to the audio only portion.
Buying a home and getting a mortgage is a process not an event. Nowhere does it say the process cannot be educational, enjoyable and exciting. Kevin Martini and the entire Martini Mortgage Group believe that buying a home and getting a mortgage should be a world-class experience. The first step to homeownership is to have price and cost clarity before you engage with a real estate professional — there is nothing worse than falling in love with a home that is outside of your budget or worse previewing homes that are under your budget.
If you or someone you know has questions about the current mortgage rate environment or about the unique home loan solutions offered by the Martini Mortgage Group at Benchmark Mortgage then give Kevin Martini a call at (919) 238-4934.
Kevin Martini | NMLS ID 143962 | Branch Manager | Martini Mortgage Group at Benchmark Mortgage | Ark-La-Tex Financial Services, LLC NMLS ID 2143 | 5650 Six Fork Road, Suite 101, Raleigh, NC 27608 | (919) 238-4934 | www.KevinMartini.com | Kevin@KevinMartini.com |Equal Housing Opportunity