Is the home sale frenzy over? The latest figures show a steep decline just when sales are usually strong. And what does that mean for the mortgage process? We’ll get all the latest on those burning questions! We’re joined by mortgage expert Dale Vermillion, author of Navigating the Mortgage Maze: The Simple Truth about Financing Your Home. 
<ul><li>Have home sales peaked? No, property values to continue to go up, thought they have stabilized a little bit.</li><li>What about sales of existing homes? They continue to be strong. These sales have risen about 1.4% and the inventory has gone up a bit. The value of homes has increased by 23.4% year over year!</li><li>How do I determine a fair market value in a market like this? It’s nearly impossible in some of the hot markets, unfortunately. Try to watch what the market does. But pray and seek the Lord on this.</li><li>Don’t get emotionally caught up in the excitement of the moment! Make sure that you’re prepared before you ever go into a purchase transaction.</li><li> What about renting? Look at what the markets trends are in your area.</li><li>Regarding selling, have I missed any opportunities at this point? Yes, but that was early on. However, it’s still a great market for sellers.</li></ul>On this program we also answer some of your questions:
<ul><li>I have an IRA sitting not accruing any interest. What other places can I put this into that would yield back money?</li><li>I have some property. If I sell now I’d make three times the money! Should I keep this or sell it? What other things might I wisely use this property for?</li><li>We don’t need the Social Security coming to us now. We’re in our 60s and my husband wants to continue to work. Should he wait until later?</li></ul>Remember, you can call in to ask your questions 24/7 at (800) 525-7000 or email them to <a href="mailto:questions@MoneyWise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://MoneyWise.org">MoneyWise.org</a> where you can listen to past programs, connect with a MoneyWise Coach, and even download free, helpful resources like the free MoneyWise app. Like and Follow us on Facebook at MoneyWise Media for the very latest discussion! And remember that it’s your prayerful and financial support that keeps MoneyWise on the air. Help us continue this outreach by clicking the Donate tab on our website or in our app.

FaithFi

Faith & Finance is a daily radio ministry hosted by Rob West. The program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

Faith & Finance with Rob West

Is the home sale frenzy over? The latest figures show a steep decline just when sales are usually strong. And what does that mean for the mortgage process?  Dale Vermillion joins MoneyWise to talk about it.

Is the Home Sale Frenzy Over? with Dale Vermillion

FaithFi | Aug 13, 2021

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