Buy a Home 5 | Mortgage Lenders in Raleigh NC

Why This Spring 2022 Is The Time To Buy

March 6, 2022 by Kevin Martini

Are you thinking of buying a home in Raleigh? Are you thinking of buying home in North Carolina or anywhere in the U.S. for that matter? If so, spring 2022 is a great time to make your home purchase as a first-time homebuyer or as a repeat homebuyer. Here are Certified Mortgage Advisor, Kevin Martini’s to motivators this season that should confirm and encourage you to start the home buying process sooner than later.

Homeownership Has Many Perks

Homeownership is the American dream – not just because of the wealth of tangible financial benefits, but because of the intangible benefits too! Homeownership has the power to change lives for generations.

Homeownership has far reaching impacts way beyond just stability and security. Over the past two years, the evil pandemic made having a safe space to call home more important than ever before. If the pandemic has changed what you’re looking for, homeownership may be able to deliver the perks you deserve, financially and emotionally.

More Homes Are Expected To Enter the Market This Spring

This spring there are many active buyers in the marketplace than there are homes for sale, the homebuying process may take more time and effort than usual. It is what it is, however the good news is, spring is typically a highly active season in the real estate market when more sellers list their houses.

If you believe homeownership is right for you and your family, it is time to get confirmation so you have certainty. The first step to homeownership is not the home search, the first step is the home loan. In any real estate market and regardless if you are a first-time homebuyer or a repeat homebuyer, there is never a substitute for having certainty before you start your home search. Certainty for yourself, your family and for the seller too. You should never get just pre-qualified you should only get pre-approved with a Certified Mortgage Advisor with the Martini Mortgage Group. A pre-approval with the Martini Mortgage Group provides you with not just price and cost clarity but it provides you with certainty that when your dream home hits the market, you can do it. It also communicates to the seller of your dream home that you are making a ‘same-as-cash’ offer.

Home Prices and Mortgage Rates Are Climbing

In 2021 the housing market saw a sharp increase in home price appreciation due to unprecedented demand and the imbalance of housing supply – this is especially true for people looking in the Raleigh, North Carolina market. 2022 is expected to be a rinse and repeat of 2021 even with the rise of inflation and mortgage rates. Yes, mortgage rates are higher right now then they were last year and next year they will likely be higher than they are today however, from a historical standard, they are still very low.

With the ‘sticky’ vs ‘transitory’ nature of the current inflation today and based on the known fact that homeownership is a hedge against inflation then pepper in the expert predications that home loan rates will keep rising in 2022, this means if one waits to buy a home, waiting will cost them more.
Certified Mortgage Advisor Kevin Martini

Rents Are Rising

Home loan rates and home prices aren’t the only things on the rise either. Census data also shows the median monthly rent continues to go up year after year. If you want to escape rising rents, consider purchasing a home so you can lock in your monthly mortgage payment and avoid future increases. Even though the number of homes available for sale is low, homeownership is a much more stable long-term investment.

The first step to homeownership is not the home search – the first step to homeownership is the home loan. It is never too soon to connect with the Martini Mortgage Group to have a free confidential conversation. Simply call: (919) 238-4934.

Raleigh, NC (Wake County) Real Estate Report Card for March 2022

March 4, 2022 by Martini Mortgage Group

The Martini Mortgage Group which has its headquarters in Raleigh publishes every month the Raleigh, NC (Wake County) Real Estate Report Card and this is the March 2022 edition. They key metrics applied are Median Home Price, Appreciation, Population, and Affordability.

Median Home Price

A key indicator for market trends and market conditions is the Median Home Price. Simply put, the Median Home Price is the middle price point for real estate prices and it is not the same as Average Home Price.

The Median Home Price is my preferred metric because it is less impacted by a few atypical high or low sales in the Raleigh market.
Certified Mortgage Advisor, Kevin Martini

Wake County, North Carolina Median Home Price

martini mortgage group wake county median home price march 2022

The Raleigh Metropolitan Statistical Area (a.k.a. Raleigh MSA) which is defined as Raleigh, NC as the principal city and the surrounding cities linked to Raleigh. This includes the following counties: Wake, Franklin Johnston. The Median Home Price for the Raleigh MSA is 300,585 for March 2022.

Appreciation

In the March 2022 Real Estate Report Card, the Martini Mortgage Group looks at historical appreciation and forecasted appreciation based on from leading industry experts. Important to note, appreciation is just a forecast and not a guarantee of future performance.

martini mortgage group wake county forecasted appreciation march 2022

Population

1 million plus (1.06M) call Wake County, North Carolina home and it is one of the fastest growing counties in North Carolina. In addition, it is the largest county in North Carolina with a 25% growth rate. Daily growth is 60+ people per day.

AFFORDABILITY

Oh By The Way

It is never too early to start to explore your homeownership options and you are not too late either. The first part of the homeownership journey is the loan and then after you have the certainty and being armed with price and cost clarity, the second step is to go find your home. The Martini Mortgage Group offers trusted advice with a frictionless digital mortgage process that provides certainty. To contact Mortgage Strategist with the Martini Mortgage Group simply call: (919) 238-4934.

It is understandable why some have the perception that a housing bubble is forming or worse we are already in a bubble. Perception is not always reality – real estate in Raleigh and all over North Carolina is green, growing and affordable. In episode 132 of the Martini Mortgage Podcast shares the factual data why it is not a housing bubble but an opportunity.

Raleigh Homebuyers Are Not Waiting to Buy a Home

February 24, 2022 by Martini Mortgage Group

Some have the perception real estate is seasonal and because of this perception some are waiting until spring until they start the homebuying process. Perception is not always reality. In a few parts of the U.S. there may be seasonal patterns but the real estate market in Raleigh, North Carolina does not hibernate.

Buy Your First Home in Raleigh, NC

Homebuyer demand is high today as more people are seeking to take advantage of the historic mortgage rate environment before it disappears. Sure, home loan rates today are higher today than they were last year; however, from a historic standard, they are very low. Raleigh home buyers are accelerating their home buying steps and not waiting to buy a home.

When thinking of buying real estate for the first time or as a repeat homebuyer, the first step is always the loan, not the home. In any market, especially in a highly competitive market, there is not a substitute to secure loan approval from a Certified Mortgage Advisor with the Martini Mortgage Group before you find your home. Prequalification from a loan officer is nice but irrelevant since it only passes on to a seller one is ready and willing whereas a loan approval from the Martini Mortgage Group undoubtedly broadcasts to the seller you are ready, willing, able and you are making a ‘same-as-cash’ offer.

The most recent Consumer Confidence Survey from the Conference Board has shared the percentage of people planning to buy within the next 6-months has increased significantly since last fall.

The graph clearly illustrates the number of people fast-tracking their plans to purchase a home has accelerated over the last 3 months. Simply put, many future homebuyers are realizing they should act sooner rather than later. More people are moving up their plans to buy a home and others are actively taking the steps to put their plan into action. Again, the first step is the loan not the home.

To echo this sentiment, according to realtor.com report, the average home sold faster this January than any other January on record. Homebuyers are not just accelerating their plans, they are taking swift action and seizing the current historic mortgage rate environment and locking in their long-term cost of homeownership with a fixed rate mortgage.

Martini Mortgage Group Bottom Line

Some homebuyers are rethinking their strategies and they are moving their plans forward – others are making their moves now. Buyer demand is high with some inventory challenges in the Raleigh area. It is critical, now more than ever, to be laser focused and have price and cost clarity before the home. Review your options with a Certified Mortgage Advisor at the Martini Mortgage Group.

Contact Our Mortgage Specialist Today!

We will take you through how the homebuying process works; explain each step of the process and answer your questions. In addition, we’ll provide you with a personalized analysis on your financial situation based on your application to learn how you can set yourself up financially to be able to meet your real estate goals based on your timing.