Experts in the real estate industry use a number of terms when they talk about what’s happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what’s happening with home prices and where experts say they’re going, here’s a look at a few terms you may hear: Appreciation is when home prices increase. Depreciation is when home prices decrease. Deceleration is when home prices continue to appreciate, but at a slower pace. Where Home Prices Have Been in Recent Years For starters, you’ve probably heard home pric…

The Perks of Owning More Than One Home Many things have changed over the past couple of years, and real estate is no exception. One impact is an increased desire to own more than one home. According to the recent Luxury Market Report from Luxury Home Marketing: “As trends such as remote working and flexi-hours took hold in 2021, so too did the flexibility of relocating as well as the growth of second homeownership.” This may be because the pandemic has altered how we think about our homes. Where we live has become, more than ever, our safe space and our getaway. And with the rise i…

There are three big changes to residential home loans that you need to know about. The most celebrated is the declaration that Biden made last week in the aftermath of the Marshall Fire in Colorado. Through an FHA loan called 203H, buyers affected by the recent fire or a declared disaster area, may qualify for a no money down loan, pending a credit score above 600. From hud.gov: “Individuals are eligible for this program if their homes are located in an area that was designated by the President as a disaster area and if their homes were destroyed or damaged to such an extent that…