Why Today’s Housing Market Is Not About To Crash

posted by: George Sykes, Managing Broker, Worth Clark Realty on Tuesday May 9, 2023

There’s been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, it’s easy enough to understand why that worry has come up.

But the data clearly shows today’s market is very different than it was before the housing crash in 2008. Rest assured, this isn’t a repeat of what happened back then. Here’s why.

Local Special

posted by: Big Foot Landscape on Sunday April 30, 2023

Big Foot specializes in hardscape projects and walls. If you have a leaning wall, it is going to fall. Let us fix it up and maybe even knock out that project you have always dreamed up. Follow the link on our page ...

Wildfire Celebrates 27 Years

posted by: Wildfire Internet on Tuesday March 1, 2022

Wildfire Internet established as one of the early Internet application development companies in 1995 today celebrates its 27th year anniversary. Wildfire Internet is the home of the CityPages, a local city directory designed to help local businesses take advantage of Wildfire's 27 years of experience.

Follow the Housing Market without lots of clicks and picks

posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday February 15, 2021

New home listings are now posted in near real time to the main home page of local CityPage sites like collinsville.com, edwardsville.com, collinsville.com, ofallon365.com and 40+ more.

47 Percent of New Buyers Surprised by How Affordable Homes Are Today

posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday February 13, 2021

Headlines matter. Right now, it’s hard to read about real estate without seeing a headline that suggests homes have become unaffordable for most Americans. In reality, there’s hard evidence that shows how owning a home is more affordable than renting in most parts of the country, as record-low interest rates are keeping monthly mortgage payments about 23% lower than the typical payment of 20 years ago. Despite the facts, misleading headlines persist, and they impact how hopeful homebuyers perceive the market.

In a recent survey by realtor.com, home shoppers indicated they were surprised by what they could actually afford when buying their first home. In fact, 47% discovered their budget was larger than they expected. George Ratiu, Senior Economist at realtor.com, explains:

What Happens When Homeowners Leave Their Forbearance Plans?

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 29, 2021

According to the latest report from Black Knight, Inc., a well-respected provider of data and analytics for mortgage companies, 6.48 million households have entered a forbearance plan as a result of financial concerns brought on by the COVID-19 pandemic. Here’s where these homeowners stand right now:

2,543,000 (39%) are current on their payments and have left the program
625,000 (9%) have paid off their mortgages
434,000 (7%) have negotiated a repayment plan and have left the program
2,254,000 (35%) have extended their original forbearance plan
512,000 (8%) are still in their original forbearance plan
116,000 (2%) have left the program and are still behind on payments

Smart Buyers and Smart Sellers: Class #3 "The Contract"

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday January 1, 2021

George Sykes, Real Estate Broker with Worth Clark Realty details what every real estate buyer and seller should know about the "Contract To Purchase Real Estate". Buyers and Sellers owe it to themselves to watch this video before they sign their next real estate contract. Understand what you are signing. George Sykes is a licensed Real Estate Broker in Southern Illinois and represents clients in edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh and belleville.

Smart Buyers and Smart Sellers: Class #2

posted by: George Sykes, Managing Broker, Worth Clark Realty on Friday December 18, 2020

Class #2: The Listing Agreement

In Smart Buyer and Smart Seller Class #2, George explains what exactly goes into a Listing agreement. This document details key elements of a real estate sale like Price, Commissions, Timing, what stays with the house and Disclosures. If you are selling a property in the Southern Illinois area (edwardsville, glen carbon, collinsville, granite city, maryville, troy, ofallon, swansea, shiloh, belleville) this course is a must see before you list.

Smart Buyers and Smart Sellers: Class #1

posted by: George Sykes, Managing Broker, Worth Clark Realty on Monday December 14, 2020

Real Estate Master Class: Smart Buyers and Smart Sellers

Class #1: Must See Class for Anyone Buying and Selling a Home

Join George as he teaches homeowners, buyers and sellers what they should know before buying or selling a property. This Free Class explains the timeline for both the buyer and the seller and creates a foundation for the "Smart Buyer Smart Seller Real Estate Master Class" series.

Homeownership Helps the Local Economy

posted by: George Sykes, Managing Broker, Worth Clark Realty on Saturday November 28, 2020

Each real estate transaction makes an impact on the local economy, which is a major part of why the housing market is a driver in this year’s economic recovery. This winter is a great time to make a move, so DM me if you’re ready to support our community and find your dream home today.