Jenn Davida

  • Home
    • Giving Back
  • Meet Jenn
    • Why Choose Jenn Davida
    • Selecting A Realtor
    • Testimonials
  • Buying a Home
    • Browse Homes
    • Communities
    • Get Pre-Approved
    • Mortgage Calculator
    • Military Benefits
    • VA Home Loans
    • Luxury Inventory
  • Selling A Home
    • Staging Your Home
    • Staging Photos & Video
    • Home Value
    • Luxury Marketing
    • Video
    • Short Sale
      • Do I Qualify?
      • What to Expect
  • YouTube
  • Contact
  • Blog & More
    • Newsletter Sign-up
    • Market Insights
CALL ME

Giving Back

One Closing At A Time

Learn More

Military Benefits

Valuable benefits designed to help service members and their families.

Learn More

Don’t Believe Everything You Read: The Truth Many Headlines Overlook

Don’t Believe Everything You Read: The Truth Many Headlines Overlook

November 23, 2021 by Jennifer Davida

Don't Believe Everything You Read: The Truth Many Headlines Overlook | Simplifying The Market

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.

With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.

There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.

1. Foreclosures Are Spiking Today

There are a number of headlines circulating that call out the rising foreclosures in today’s real estate market. Those stories focus on an overly narrow view on that topic: the current volume of foreclosures compared to 2020. They emphasize that we’re seeing far more foreclosures this year compared to last.

That seems rather daunting. However, though it’s true foreclosures have been up over the 2020 numbers, it’s important to realize that there were virtually no foreclosures last year because of the forbearance plan. If we compare this September to September of 2019 (the last normal year), foreclosures were down 70% according to ATTOM.

Even Rick Sharga, an Executive Vice President of the firm that issued the report referenced in the above article, says:

“As expected, now that the moratorium has been over for three months, foreclosure activity continues to increase. But it’s increasing at a slower rate, and it appears that most of the activity is primarily on vacant and abandoned properties, or loans in foreclosure prior to the pandemic.”

Homeowners who have been impacted by the pandemic are not generally the ones being burdened right now. That’s because the forbearance program has worked. Ali Haralson, President of Auction.com, explains that the program has done a remarkable job:

“The tsunami of foreclosures many feared in the early days of the pandemic has not materialized thanks in large part to the swift and decisive foreclosure protections put in place by government policymakers and the mortgage servicing industry.”

And the government is still making sure homeowners have every opportunity to stay in their homes. Rohit Chopra, the Director of the Consumer Financial Protection Bureau (CFPB), issued this statement just last week:

“Failures by mortgage servicers and regulators worsened the impact of the economic crisis a decade ago. Regulators have learned their lesson, and we will be scrutinizing servicers to ensure they are doing all they can to help homeowners and follow the law.”

2. Rising Mortgage Rates Will Slow the Housing Market

Another topic that’s generating frequent headlines is the rise in mortgage rates. Some people are expressing concern that rising rates will negatively impact the housing market by causing home sales to dramatically decline. The resulting headlines are raising unneeded alarm bells. To counteract those headlines, we need to take a look at what history tells us. Looking at data over the last 20 years, there’s no evidence that an increase in rates dramatically forces sales to come to a halt. Nor does home price appreciation come to a screeching stop. Let’s look at home sales first:Don't Believe Everything You Read: The Truth Many Headlines Overlook | Simplifying The MarketThe last three times rates increased (shown in the graph above in red), sales (depicted in blue in the graph) remained rather consistent. It’s true that sales fell rather dramatically from 2007 through 2010, but mortgage rates were also falling at the time. The next two instances showed no meaningful drop in sales.

Now, let’s take a look at home price appreciation (see graph below):Don't Believe Everything You Read: The Truth Many Headlines Overlook | Simplifying The MarketAgain, we see that a rise in rates didn’t cause prices to depreciate. Outside of the years following the crash, prices continued to appreciate, just at a slower rate.

Bottom Line

There’s a lot of misinformation out there. If you want the best advice on what’s happening in the current housing market, let’s connect.

Source: Keeping Current Matters

Related Posts:

  • The Truth About Negative Home Equity Headlines
    The Truth About Negative Home Equity Headlines
  • Confused About What’s Going on in the Housing Market? Lean on a Professional.
    Confused About What’s Going on in the Housing Market? Lean…
  • Why You Shouldn’t Fear Today’s Foreclosure Headlines
    Why You Shouldn’t Fear Today’s Foreclosure Headlines
  • Two Questions Every Homebuyer Should Ask Themselves Right Now
    Two Questions Every Homebuyer Should Ask Themselves Right…

Filed Under: Real Estate News Tagged With: real estate

Your Real Estate Solution Newsletter

Join today to receive a monthly e-newsletter that is sure to be packed with fresh and relevant information!

Search the Largest
Collection of New Homes

Blog Categories

Quick Search

Local & National Participation

  • The Institute For Luxury Home Marketing Member Seal

  • St Pete Chamber

  • Florida Realtors

  • Aaron's House

  • Pace

  • American Cancer Society

  • Aspca

  • BigCatWildlifeRescue

  • Realtor

  • Hope

  • Susan G Komen

  • PascoStandDown

  • Pinellasrealtor

  • Westpasco

  • Westpascocc

  • Asap

  • Connectionsjobdev

  • Vw

  • Dali Museum

  • CDPE

  • Mrp

  • Gold Writiting Grey Block Large PNG

  • Verternas_Alternative

  • WPBA LOGOS

CLIENT REVIEWS

  • Zillow 5 Star Review  Jenn Davida is by far the best realtor in our market area. I foregoed the lowest commission offered to us to ensure we got the best experience and lots of... read more clear communication. We are 200% satisfied with the process and Jenn's results. If you want a pleasant experience and best result, I'd strongly recommend Jenn Davida.

    zillow logo
    zuser20170219141859154
    January 12, 2022
  • Zillow 5 Star Review  Jenn was amazing to work with when purchasing my new home. She was so helpful with every detail and was always available for questions. The home even closed a few... read more days early.

    zillow logo
    Caroline Turke
    September 3, 2021
  • Zillow 5 Star Review  Jenn Davida secured us our perfect home during the craziest market ever! She was able to answer every question we had quickly and accurately, she guided is through our... read more aggressive negotiations with grace and confidence which helped us land our dream home in the area we needed to be in. Professional, kind and connected. There are not enough kind words to express our gratitude for her help.

    zillow logo
    Mary Miller
    July 28, 2021
  • Zillow 5 Star Review  This is the second property that I've bought leveraging Jenn's real estate prowls! I literally contacted Jenn at 9PM at night when I saw a listing on the market in... read more the specific neighborhood we were looking at and she managed to squeeze me into her schedule to view the house the next day. I had an offer prepared that night and was already in a bidding war! Jenn helped me to craft a competitive offer and when I snoozed on my counteroffer in time, she helped convince the seller to make me the formal backup offer. It worked out because we ended up going under contract! You would think it would be smooth sailing from there but we hit several roadblocks during the inspection period and Jenn was a google master trying to find experts to advise us for each issue we uncovered. When our appraisal came in significantly less than we felt should be the right value, she gave me different strategic advise for how to move forward. In the end we were able to close on the house that my husband and I are in LOVE with just in the nix of time before welcoming our first baby. While this was my experience with buying this specific home, the reason I continue to use Jenn is because she is a bubbly personality, super professional, and makes herself available to help her clients achieve their goal (whether selling or buying). If you want an agent that is fighting for a house as if it was her own...than Jenn is your gal. If you want an agent that will entertain all of your questions, no matter how stupid....than Jenn is your gal. If you want an agent that will give you 200% when you're giving 100%...than Jenn is your gal. If you are looking for an agent to sell or buy a home, please do not look further than Jenn. I've used her, my friend has used her, and my cousin has used her....clearly it goes to show that we are all fans and she has managed to help each of us find our dream home. I already plan on using Jenn to sell my condo!

    zillow logo
    Valarie Mahabir
    April 17, 2021
  • Zillow 5 Star Review  I’ve dealt with Jen, and it’s hard to find a better Agent than the Jen in the Tampa market these days. She has been able to answer all my questions... read more without having to wait days or weeks to get an accurate response. She always connect me with the contacts needed to get closer to my investing goals. I Appreciate you so much. and wish you many more successes.

    zillow logo
    parsa11495
    March 16, 2021
  • Zillow 5 Star Review  Jenn is the consummate professional! She was with me every step of the way! She truly cares about her clients & their needs/wants! Utilizing her knowledge and experience led me... read more to the perfect hone. Nobody works harder than Jenn!

    zillow logo
    bcorley55
    January 28, 2021
  • Zillow 5 Star Review  Jenn was with me for all the steps of purchasing a new construction home. During the construction process we stayed in touch even though it was not much to... read more discuss. Still, it's nice to know somebody is there looking out for your interests. She was there during the walkthrough to help point out the imperfections that needed to be corrected. She was at closing to review the paperwork and explain exactly what I was signing. Jenn is generally easy to reach but if she's busy she never fails to get back to you and communication with her is very easy.

    zillow logo
    mthornak
    January 22, 2021
  • Zillow 5 Star Review  Jenn gave me honest advice and guidance on my home sell. She is a true professional that believes in telling people about the entire picture and process. It is a... read more wonderful experience to sell a home with Jenn because she makes herself available for questions and concerns, provides detailed instructions on the steps moving forward, does an excellent job negotiating and provides the best support team available. The professional photographer that she hired was amazing and they were able to get beautiful pictures of the home. Jenn Davida is a real gem!

    zillow logo
    zuser20140427051520200
    December 11, 2020
  • Zillow 5 Star Review  Jenn Davida is one of a kind..she is personable, knowledgeable, patient and kind. We are so.grateful to her for making our home buying and selling dreams come true. Thank you... read more Jenn for being you!!!

    zillow logo
    misslondont
    November 19, 2020
  • Zillow 5 Star Review  Five Star Realtor! My wife and I selected Jenn Davida to list a lakefront property in Citrus Park, that we planned to build a custom home on. Jenn implemented a... read more solid marketing strategy, negotiated offers, and closed the deal at the full listing price in less than ninety days! She is dedicated, detail-oriented, and driven. We highly recommend Jenn Davida for your real estate solutions.

    zillow logo
    zuser20160924101425168
    November 7, 2020

Communities

St. Petersburg

South Tampa

Trinity

Pasco

North Pinellas

Beaches

Luxury

Waterfront

Golf Communities

New Construction

55+ Communities

Foreclosures

© 2023 Jenn Davida · Real Estate Solutions · Powered by Local Real Estate Solutions