If you need assistance, please call 651-735-7653

Inflation | Gorman's Gazette Blog

Tuesday, September 5, 2023   /   by Janelle Flay

Why You May Still Want To Sell Your House After All

Why You May Still Want To Sell Your House After All

Even though you may feel reluctant to sell your house because you don’t want to take on a mortgage rate that’s higher than the one you have now, there’s more to consider. While the financial side of things does matter, your personal needs may actually matter just as much. As an article from Bankrate says:

“Deciding whether it’s the right time to sell your home is a very personal decision. There are numerous important questions to consider, both financial and lifestyle-based, before putting your home on the market.”

So, ask yourself this: why did I want to move in the first place?

Chances are your primary motivation wasn’t just financial in nature. Why you’re really thinking about selling likely has more to do with something changing in your life or a shift in what you need out of your house.

Reasons Homeowners Still Need To Sell Toda. ...

  home prices, housing market, keeping current matters, real estate, jason gorman real estate team, home equity, housing inventory, home seller, housing supply, mortgage rates, buyers, sellers market, inflation, investing, real estate investments, 2023 real estate

Friday, April 21, 2023   /   by Louetta Larson

Think Twice Before Waiting for Lower Home Prices

Think Twice Before Waiting for Lower Home Prices


As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.
A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports:
“U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”
And the latest data from Black Knight shows . ...

  home prices, housing market, keeping current matters, real estate, jason gorman real estate team, home equity, spring market, housing inventory, home seller, housing supply, mortgage rates, foreclosures, buyers, sellers market, buying a home, first time home buyer, inflation, investing, real estate investments, student loans, inspection, 2023 real estate

Tuesday, October 11, 2022   /   by Louetta Larson

Two Questions Every Homebuyer Should Ask Themselves Right Now

Two Questions Every Homebuyer Should Ask Themselves Right Now


Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows no signs of letting up soon.

Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise. George Ratiu, Senior Economist and Manager of Economic Research at realtor.com, says this:


“While even two months ago rates above 7% may have seemed unthinkable, at the current pace, we can expect rates to surpass that level in the next three months.”

So, is now the right time to buy a home? Anyone thinking about buying a home today should ask themselves two questions:

1. Where Do I Think Home Prices Are Heading ...

  home prices, housing market, 2022, keeping current matters, real estate, jason gorman real estate team, home equity, spring market, housing inventory, home seller, housing supply, mortgage rates, foreclosures, buyers, sellers market, buying a home, first time home buyer, inflation, investing, real estate investments, student loans, inspection

Thursday, October 6, 2022   /   by Louetta Larson

Four Things That Help Determine Your Mortgage Rate

Four Things That Help Determine Your Mortgage Rate


If you’re looking to buy a home, you probably want to secure the lowest interest rate possible for your home loan. Over the last couple of years, that was easier to do as the housing market saw record-low mortgage rates, but this year rates have risen dramatically.

If you’re looking for ways to combat today’s higher rates and lock in the lowest one you can, here are a few factors to focus on. Since approval opportunities can vary, connect with a trusted lender for customized advice.

Your Credit Score

Credit scores can play a big role in your mortgage rate. Freddie Mac explains:


“When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back your loans as agreed and used your credit wisely. Strong credit also means your lender is more apt to approve you fo ...

  home prices, housing market, 2022, keeping current matters, real estate, jason gorman real estate team, home equity, spring market, housing inventory, home seller, housing supply, mortgage rates, foreclosures, buyers, sellers market, buying a home, first time home buyer, inflation, investing, real estate investments, student loans, inspection

Tuesday, October 4, 2022   /   by Louetta Larson

The Cost of Waiting for Mortgage Rates To Go Down

The Cost of Waiting for Mortgage Rates To Go Down


Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can help you make an informed decision when you set your homebuying plans.

The Impact of Rising Mortgage Rates

As mortgage rates rise, they impact your purchasing power by raising the cost of buying a home and limiting how much you can comfortably afford. Here’s how it works.

Let’s assume you want to buy a $400,000 home (the median-priced home according to the National Association of Realtors is $389,500). If you’re trying to shop at that price point and keep your monthly payment about $2,500-2,600 or below, here’s how your purchasing power can change as mortgage rates climb (see chart below). The red shows payments above that threshold and the green indicates a payment withi ...

  home prices, housing market, 2022, keeping current matters, real estate, jason gorman real estate team, home equity, spring market, housing inventory, home seller, housing supply, mortgage rates, foreclosures, buyers, sellers market, buying a home, first time home buyer, inflation, investing, real estate investments, student loans, inspection

Jason Gorman Real Estate Team Keller Williams Premier Realty
Jason Gorman
635 Bielenberg Dr. Ste 100
Woodbury, MN 55125
651-735-7653

The data relating to real estate for sale on this web site comes in part from the Broker Keller Williams Premier Realty of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Lakes Area Realty are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2023Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated December 5, 2023
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Jason Gorman - Jason Gorman Real Estate Team / Keller Williams Premier Realty are marked with the Broker ReciprocitySM logo or the Broker Reciprocity and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Copyright2023Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated December 5, 2023
This site powered by CINC: www.cincpro.com