Pravin Lal's Blog Posts

What Experts Are Saying about the 2021 Job MarketEarlier this month, the Bureau of Labor Statistics (BLS) released their most recent Jobs Report. The report revealed that the economy

Owning a Home Is Still More Affordable Than Renting OneIf spending more time at home over the past year is making you really think hard about buying a home instead of renting one, you’re

Should I Wait for Lower Mortgage Interest Rates?Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the

Why Right Now May Be the Time to Sell Your HouseThe housing market made an incredible recovery in 2020 and is now positioned for an even stronger year in 2021. Record-low mortgage interest&

Will Forbearance Plans Lead to a Tsunami of Foreclosures?At the onset of the economic disruptions caused by the COVID pandemic, the government quickly put into place forbearance plans to allow

What Does 2021 Have in Store for Home Values?According to the latest CoreLogic Home Price Insights Report, nationwide home values increased by 8.2% over the last twelve months.

Is This the Year to Sell My House?If one of the questions you’re asking yourself is, “Should I sell my house this year?” consumer sentiment about selling today should boost your

The Importance of Home Equity in Building WealthHomeownership has always been the first rung on the ladder leading to household wealth. As Freddie Mac recently posted: �

Why Not to Wait Until Spring to Make a MoveThe housing market recovery coming into the new year has been nothing short of remarkable. Many experts agree the turnaround from the nation’s economic

Why It Makes Sense to Sell Your House This Holiday SeasonIf you’re one of the many homeowners thinking about taking your house off the market for the holidays, hang on. You definitely don’t want

Are Home Prices Headed Toward Bubble Territory?Talk of a housing bubble is beginning to crop up as home prices have appreciated at a rapid pace this year. This is understandable since the

An Honest Look at Unemployment Numbers Last Friday, the Bureau of Labor Statistics released the November Jobs Report. It revealed that, though headed in the right direction, the

With Home Values Surging, Is it Still Affordable to Buy Right Now?Housing inventory is at an all-time low. Realtor.com just reported that there are 39% fewer homes for sale

Knowledge Is Power on the Path to HomeownershipHomeownership is on the goal list for many young adults, but sometimes it’s hard to know exactly how to get there. From understanding the homebuying

5 Tips for Homebuyers Who Want to Make a Competitive Offer Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a

Chances of Another Foreclosure Crisis? “About Zero Percent.”There seems to be some concern that the 2020 economic downturn will lead to another foreclosure crisis like the one we experienced

Why Working from Home May Spark Your Next MoveIf you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over

Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just;

Winter Will Bring a Flurry of Activity to the Housing MarketIn the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the

Homeownership Is a Key to Building WealthFor years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains

Why the 2021 Forecast Doesn’t Call for a Foreclosure CrisisAs the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next

In today’s real estate market, the buzz is all about how it’s a great time to sell your house. Buyer demand is high, and there simply aren’t enough homes available to buy to meet

Selling Your House Is the Right Move, Right Now [INFOGRAPHIC]Some Highlights Demand from homebuyers has skyrocketed this year, which means today’s sellers are poised to win big. This ideal

Home Values Projected to Keep RisingAs we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic

The September Jobs Report issued by the Bureau of Labor Statistics reported that the unemployment rate dropped to 7.9%. Though that percentage is well below what experts

Do You Need to Know More about Forbearance and Mortgage Relief Options? Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly,

How to Prepare for a Bidding War [INFOGRAPHIC]Some Highlights With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers. From pre

The #1 Reason Not to Wait to List Your House for SaleMany industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.Mark,&

Do You Have Enough Money Saved for a Down Payment?One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, 

6 Reasons You’ll Win by Selling with a Real Estate Agent This FallThere are many benefits to working with a real estate professional when selling your house. During challenging times, like what we

Thinking of Moving? Some Highlights If you’re ready to sell your house but you’re worried about finding one to move into, why not invest in a brand-new home built just for you? New

Should You Buy a Retirement Home Sooner Rather than Later?Every day in the U.S., roughly 10,000 people turn 65. Prior to the health crisis that swept the nation in 2020, most people had to

A Homeowner’s Net Worth Is 40x Greater Than a Renter’sOne of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve 

Is it Time to Move into a Single-Story Home?Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms

Why Pricing Your House Right Is EssentialIn today’s real estate market, setting the right price for your house is one of the most valuable things you can do.According to the U.S. Economic

If you’re thinking about moving, selling your house this fall might be the way to go. Here are four highlights in the housing market that may make your decision to sell this fall an

Where Are Home Values Headed Over the Next 12 Months?As shelter-in-place orders were implemented earlier this year, many questioned what the shutdown would mean to the real estate market.

Home Builder Confidence Hits All-Time RecordLast week, the National Association of Home Builders (NAHB) reported their Housing Market Index (HMI) hit an all-time high 

Is the Economic Recovery Beating All Projections?Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S.

How Low Inventory May Impact the Housing Market This FallReal estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market

The Surging Real Estate Market Continues to ClimbEarlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has

Is Now a Good Time to Move?How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers;

Two New Surveys Indicate Urban to Suburban Lean There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may

Homebuyer Traffic Is on the RiseOne of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association

The Latest Unemployment Rate Fell to 8.4%Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment

Have You Ever Seen a Housing Market Like This?The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s real estate market is

Homebuyer Demand Is Far Above Last Year’s PaceHomebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively

How Will the Presidential Election Impact Real Estate?The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic

It’s Not Just About the Price of the Home When most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what

Three Ways to Win in a Bidding WarWith so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are

The Cost of Renting Vs. Buying a Home Some Highlights The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise.

Why Is It so Important to Be Pre-Approved in the Homebuying Process?You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When

Should You Buy an Existing Home or New Construction?Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and

Builders & Realtors Agree: Real Estate Is BackWhen shelter-in-place orders brought the economy to a screeching halt earlier this year, many believed the residential housing market would follow suit.

The Top Reasons People Are Moving This YearToday, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra

According to trending data, searches for key real estate topics are skyrocketing online. Clearly, lots of people have questions about buying a home, and other topics related to the process.

Forbearance Numbers Are Lower than Expected Originally, some housing industry analysts were concerned that the mortgage forbearance program (which allows families to delay payments to a

Just How Strong Is the Housing Recovery? The residential real estate market has definitely been the shining light in this country’s current economic situation. All-time low 

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however,

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to

So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the

Last week, a very well-respected real estate analytics firm surprised many with their home price projection for the next twelve months. CoreLogic, in their latest Home Price Index :

One of the bright spots of the 2020 real estate market is the growth in equity homeowners are experiencing across the country. According to the recently released Homeowner Equity Insights&

When it first hit the market, the Ring doorbell system seemed like a great way to keep your home safe. Not only do the cameras on the doorbell let you see who’s at the door, they also let you

When you own your own home, there are a lot of small repairs and similar tasks that you’ll have to do at some point. You may also want to tackle some DIY projects or make some changes around the

On Monday, the National Bureau of Economic Research (NBER) announced that the U.S. economy is officially in a recession. This did not come as a surprise to many, as the 

With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery

Last Friday, the U.S. Bureau of Labor Statistics released their May Employment Situation Summary. Leading up to the release, most experts predicted the unemployment rate would

The Benefits of Homeownership May Reach Further Than You ThinkMore than ever, our homes have become an integral part of our lives. Today they are much more than the houses we live in. They’re

Virtual home tours and showings are increasingly popular in real estate. They allow prospective home buyers to view the property on their own time, reducing unnecessary contact and helping them to

As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the

It’s well known that the housing market is heavily influenced by the economy — especially local economies. When the economy is strong, people have more money for large purchases and investments

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will

Throughout the years, the construction industry, and the trends that it follows, have changed significantly. While some key elements in construction tend to stay more or less the same, in other

Interest Rates Hover Near Historic All-Time Lows Some Highlights Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level. Locking in at

Even if you absolutely love your house and the area you live in, sometimes you’ll find that you just don’t have enough room for your family and all your stuff. This can be a major inconvenience,

While everyone is home trying to stay healthy, there are a lot of people who have taken to trying to do things around the house on their own. This has helped homeowners keep busy when they have

There has been a lot of focus in recent weeks on “essential” workers in our economy. In most places, this includes at least portions of the construction industry as well as a few other types of

With social distancing being an important part of life at the moment and so many parts of the economy suffering the effects of state lockdowns, some are worried about how all of this will affect the

There are a lot of people tackling DIY projects at the moment. Some of these are necessary projects that people are doing themselves to avoid bringing strangers into their homes. Others are simply a

It goes without saying that no one expected 2020 to turn out the way that it has. The last several weeks have been especially difficult, with businesses shutting down and people needing to stay at

Well what is a condo exactly? The simplest answer would be it just like an apartment but instead of renting it, you would own it. There are usually multiple units in each condominium and if you are