Blogs

Looking to Move? Here Are the Best Reasons to Buy Before You Sell

First, a disclaimer: most of the time, it is a good idea to sell your old house before purchasing a new one. After all, the potential burden of paying for two mortgages at the same time is a financial risk which few people are willing and able to take on. That being said, there are some specific circumstances in which you might want to consider reversing the order of things by buying the new house first. Keep reading to learn about the factors which can make this unconventional decision a smart move!

Buyers, Don't Panic If Your Credit Score Falls

After finally purchasing a home, buyers are often dismayed to find that their credit score has taken a significant dip. If you just spent the last year working to boost your score and qualify for a mortgage, then it's understandable to be a little concerned at seeing it suddenly fall. To make the situation even more confusing, this decline often lags several months behind the home purchase, raising doubts about what actually caused it to happen. Luckily, a new study by LendingTree shows that a drop in credit score following a home purchase is not only normal, but generally corrects itself in less than one year! Keep reading to learn why scores fall after buying a home, how large you should expect the decline to be, and when you can expect the score to return to normal.

By the Numbers: October's Housing Market

Recent trends in the nation's housing market, such as rising interest rates, a lack of inventory, and low affordability, have together contributed to a minor slowdown over the course of the last several months. Although these issues aren't exactly fun, it is important to remember that they represent a needed correction to the unsustainably high rate of home price growth which had been ongoing in many cities across the country. With that being said, the National Association of Realtor's October report on existing-home sales reveals some reasons to be hopeful about the housing market's trajectory. Keep reading to learn about October by the numbers!