[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fcntx8wcsmdvg":3,"$ffeh0925h8cuz":42,"$fbwk2pqjjqsc7":46},{"item":4,"previous":30,"next":36},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":9,"isInfographic":14,"categories":15,"isVideo":14,"videoThumbnail":9,"videoSource":9,"publishedAt":28,"updatedAt":29},1561,"the-1-misconception-in-the-homebuying-process","The #1 Misconception in the Homebuying Process","After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, \u003Cem>Director of Economic Research\u003C\u002Fem> at \u003Cem>Zillow\u003C\u002Fem>, explained in a \u003Ca href=\"http:\u002F\u002Fzillow.mediaroom.com\u002Findex.php?s=28775&item=137570\">recent article\u003C\u002Fa>:","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F02\u002F19090320\u002F20200220-KCM-Share.jpg","After over a year of moderating home prices, it appears home value appreciation is about to reaccelerate. Skylar Olsen, \u003Cem>Director of Economic Research\u003C\u002Fem> at \u003Cem>Zillow\u003C\u002Fem>, explained in a \u003Ca href=\"http:\u002F\u002Fzillow.mediaroom.com\u002Findex.php?s=28775&item=137570\">recent article\u003C\u002Fa>:\u003C!--more-->\r\n\u003Cblockquote>\u003Cem> “A year ago, a combination of a government shutdown, stock market slump and mortgage rate spike caused a long-anticipated inventory rise. That supposed boom turned out to be a short-lived mirage as buyers came back into the market and more than erased the inventory gains. As a natural reaction, the recent slowdown in home values looks like it's set to reverse back.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Cem>CoreLogic\u003C\u002Fem>, in their \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fdownloadable-docs\u002Fmarketpulse\u002F17-mktplse-0120-01-the-marketpulse-vol-9-issue-1-january-2020-screen.pdf\">January 2020 Market Pulse Report\u003C\u002Fa>, agrees with Olsen, projecting home value appreciation in all fifty states this year. Here’s the breakdown:\r\n\u003Cul>\r\n \t\u003Cli>21 states appreciating 5% or more\u003C\u002Fli>\r\n \t\u003Cli>26 states appreciating between 3-5%\u003C\u002Fli>\r\n \t\u003Cli>Only 3 states appreciating less than 3%\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\u003Ch4>\u003Cstrong>The Misconception\u003C\u002Fstrong>\u003C\u002Fh4>\r\nMany believe when real estate values are increasing, owning a home becomes less affordable. That misconception is not necessarily true.\r\n\r\nIn most cases, homes are purchased with a mortgage. The current mortgage rate is a major component of the affordability equation. Mortgage rates have fallen by almost a full percentage point since this time last year.\r\n\r\nAnother major piece of the equation is a buyer’s income. The median family income has risen by 5% over the last year, contributing to the affordability factor.\r\n\r\n\u003Cem>Black Knight\u003C\u002Fem>, in their latest \u003Ca href=\"https:\u002F\u002Fwww.blackknightinc.com\u002Fblack-knights-december-2019-mortgage-monitor-2\u002F\">Mortgage Monitor\u003C\u002Fa>, addressed this exact issue:\r\n\u003Cblockquote>\u003Cem> “Despite the average home price increasing by nearly $13,000 from just over a year ago, the monthly mortgage payment required to buy that same home has actually dropped by 10% over that same span due to falling interest rates…\u003C\u002Fem>\r\n\r\n\u003Cem>Put another way, prospective homebuyers can now purchase a $48K more expensive home than a year ago while still paying the same in principal and interest, a 16% increase in buying power.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nIf you’re thinking about purchasing a home, realize that homes are still affordable even though prices are increasing. As the \u003Cem>Black Knight\u003C\u002Fem> report concluded:\r\n\u003Cblockquote>\u003Cem>“Even with home price growth accelerating, today’s low-interest-rate environment has made home affordability the best it’s been since early 2018.”\u003C\u002Fem>\u003C\u002Fblockquote>","\r\nIf you’re thinking about purchasing a home, realize that homes are still affordable even though prices are increasing. As the \u003Cem>Black Knight\u003C\u002Fem> report concluded:\r\n\u003Cblockquote>\u003Cem>“Even with home price growth accelerating, today’s low-interest-rate environment has made home affordability the best it’s been since early 2018.”\u003C\u002Fem>\u003C\u002Fblockquote>",false,[16,20,24],{"id":17,"name":18,"slug":19},5,"For Buyers","buyers",{"id":21,"name":22,"slug":23},9,"Home Prices","home-prices",{"id":25,"name":26,"slug":27},35,"Mortgage Rates","mortgage-rates","2020-02-20T10:00:19Z","2020-02-20T11:00:19Z",{"id":31,"slug":32,"title":33,"featuredImage":34,"publishedAt":35,"contentType":10,"isVideo":14},1560,"the-many-benefits-of-aging-in-a-community","The Many Benefits of Aging in a Community","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F02\u002F18144056\u002F20200219-KCM-Share.jpg","2020-02-19T10:00:04Z",{"id":37,"slug":38,"title":39,"featuredImage":40,"publishedAt":41,"contentType":10,"isVideo":14},1562,"interest-rates-over-time-infographic","Interest Rates Over Time [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2020\u002F02\u002F20143107\u002F20200221-KCM-Share.jpg","2020-02-21T11:00:17Z",{"cover":43,"open":44,"shareSpread":45},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",[47,51,52,56,60,64,65,69,73,74,78,82,86,90,94,98,102,106,110,114,118,122,126,130,134,138,142,146,150,154],{"id":48,"name":49,"slug":50},1,"Uncategorized","uncategorized",{"id":17,"name":18,"slug":19},{"id":53,"name":54,"slug":55},6,"For Sellers","sellers",{"id":57,"name":58,"slug":59},7,"Foreclosures","foreclosures",{"id":61,"name":62,"slug":63},8,"Infographics","infographics",{"id":21,"name":22,"slug":23},{"id":66,"name":67,"slug":68},11,"First-Time Buyers","first-time-buyers",{"id":70,"name":71,"slug":72},34,"Senior Market","senior-market",{"id":25,"name":26,"slug":27},{"id":75,"name":76,"slug":77},38,"Move-Up","move-up",{"id":79,"name":80,"slug":81},41,"For Sale by Owner","for-sale-by-owner",{"id":83,"name":84,"slug":85},42,"Featured","featured",{"id":87,"name":88,"slug":89},45,"New Construction","new-construction",{"id":91,"name":92,"slug":93},52,"Luxury \u002F Vacation","luxury--vacation",{"id":95,"name":96,"slug":97},53,"Rent vs. Buy","rent-vs-buy",{"id":99,"name":100,"slug":101},80,"Time-sensitive","time-sensitive",{"id":103,"name":104,"slug":105},81,"Outdated","outdated",{"id":107,"name":108,"slug":109},147,"Internal","internal",{"id":111,"name":112,"slug":113},148,"Do Not Autopost","do-not-autopost",{"id":115,"name":116,"slug":117},320,"Inventory","inventory",{"id":119,"name":120,"slug":121},321,"Agent Value","agent-value",{"id":123,"name":124,"slug":125},322,"Affordability","affordability",{"id":127,"name":128,"slug":129},323,"Buying Tips","buying-tips",{"id":131,"name":132,"slug":133},324,"Downsize","downsize",{"id":135,"name":136,"slug":137},325,"Economy","economy",{"id":139,"name":140,"slug":141},326,"Equity","equity",{"id":143,"name":144,"slug":145},327,"Forecasts","forecasts",{"id":147,"name":148,"slug":149},328,"Selling Tips","selling-tips",{"id":151,"name":152,"slug":153},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":155,"name":156,"slug":157},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]