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Noel Veitia

NMLS ID 277729

305-851-5225 nveitia@dgpinnacle.com

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Blog Image: A Historic Rebound for the Housing Market

A Historic Rebound for the Housing Market

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important? According to NAR, the Pending Home Sales Index (PHS) is: “A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or tw...

July 10th, 2020 | For Buyers, For Sellers, Housing Market Updates, A Historic Rebound for the Housing Market

Blog Image: Is the Health Crisis Driving Buyers Out of Urban Areas?

Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home. Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and ...

July 9th, 2020 | First Time Home Buyers, For Buyers, For Sellers, Move-Up Buyers, Is the Health Crisis Driving Buyers Out of Urban Areas?

Blog Image: Latest Unemployment Report: Great News…for the Most Part

Latest Unemployment Report: Great News…for the Most Part

The Bureau of Labor Statistics (BLS) released their latest Employment Situation Summary last Thursday, and it again beat analysts’ expectations in a big way. The consensus was for 3,074,000 jobs to be added in June. The report revealed that 4,800,000 jobs were added. The unemployment rate fell to 11.1% from 13.3% last month. Again, excellent news as the unemployment rate fell for the second consecutive month. However, there’s still a long way to go before the economy fully recovers as 17.8 million Americans remain unemployed. Here are two interesting insights on t...

July 8th, 2020 | For Buyers, For Sellers, Housing Market Updates, Latest Unemployment Report: Great News…for the Most Part

Blog Image: Is Down Payment Assistance Still Available During COVID-19?

Is Down Payment Assistance Still Available During COVID-19?

Even as demand for mortgage loans has ramped up since the coronavirus crisis began, some aspects of the home loan market have changed. With millions of homeowners applying for mortgage forbearance, lenders have had to take measures to mitigate possible future losses. Some borrowers are seeing higher credit score requirements, for example. Fortunately, one of the things that has not changed for first-time home buyers is the ability to use down payment assistance programs. Saving up for an initial down payment was a monumental task for first-time buyers before COVID-19 with limited inventory ...

July 8th, 2020 | Purchasing a Home, Is Down Payment Assistance Still Available During COVID-19?

Blog Image: Taking Advantage of Homebuying Affordability in Today’s Market

Taking Advantage of Homebuying Affordability in Today’s Market

Everyone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down their optimal window of time to make a purchase. There are three main factors that go into determining how affordable homes are for buyers: Mortgage Rates Mortgage Payments as a Percentage of Income Home Prices The National Association of Realtors (NAR), produces a Housing Affordability Index, which takes the...

July 7th, 2020 | First Time Home Buyers, For Buyers, For Sellers, interest rates, Move-Up Buyers, Taking Advantage of Homebuying Affordability in Today’s Market

Blog Image: Should We Be Looking at Unemployment Numbers Differently?

Should We Be Looking at Unemployment Numbers Differently?

The New York Times recently ran an article regarding unemployment titled: Don’t Cheer Too Soon. Keep an Eye on the Core Jobless Rate. The piece suggests we should look at unemployment numbers somewhat differently. The author of the article, Jed Kolko, is a well-respected economist who is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously, he was Chief Economist and VP of Analytics at Trulia, the online real estate site. Kolko suggests “the coronavirus pandemic has b...

July 6th, 2020 | For Buyers, For Sellers, Should We Be Looking at Unemployment Numbers Differently?

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