If you’ve been keeping an eye on mortgage rates lately, you might feel like you’re on a roller coaster ride. One day rates are up; the next they dip down a bit. So, what’s driving this constant change? Let’s dive into just a few of the major reasons why we’re seeing so much volatility, and what it means for you.The Market’s Reaction to the ElectionA significant factor causing fluctuations in mortgage rates is the general reaction to the political landscape. Election seasons often bring uncertainty to financial … [Read more...]
Is Wall Street Really Buying All the Homes?
Let’s be real – buying a home right now is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight.But here’s the thing: that’s mostly a myth. While investors are part of the market, according to Redfin, they’re a relatively small part:Here’s what that means. Five out of every six … [Read more...]
Don’t Let These Two Concerns Hold You Back from Selling Your House
If you’re debating whether or not you want to sell right now, it might be because you’ve got some unanswered questions, like if moving really makes sense in today’s market. Maybe you’re wondering if it’s even a good idea to move right now. Or you’re stressed because you think you won't find a house you like.To put your mind at ease, here’s how to tackle these two concerns head-on.Is It Even a Good Idea To Move Right Now?If you own a home already, you may have been holding off because you don’t want to sell and take … [Read more...]
The Big Difference Between Renter and Homeowner Net Worth
Some HighlightsIf you’re torn between renting or buying, don’t forget to factor in the wealth-building power of homeownership.Unlike renters, homeowners gain equity as they pay their mortgage and as home values rise. That’s why, on average, a homeowner’s net worth is nearly 40x higher than a renter’s. Connect with an agent if you want to learn more about the financial benefits of homeownership or the programs that can help make buying possible. … [Read more...]
Should You Sell Your House or Rent It Out?
When you’re ready to move, figuring out what to do with your house is a big decision. And today, more homeowners are considering renting their home instead of selling it. Recent data from Zillow shows about two-thirds (66%) of sellers thought about renting their home before listing, with nearly a third (28%) taking that possibility seriously. Compared to 2021, when fewer than half (47%) of homeowners considered renting before selling, it’s clear this trend is on the rise.So, should you sell your house and use the … [Read more...]
More Homes, Slower Price Growth – What It Means for You as a Buyer
There are more homes on the market right now than there have been in years – and that could be a game changer for you if you’re ready to buy. Let’s look at two reasons why.You Have More Options To Choose FromAn article from Realtor.com helps explain just how much the number of homes for sale has gone up this year:“There were 29.2% more homes actively for sale on a typical day in October compared with the same time in 2023, marking the twelfth consecutive month of annual inventory growth and the highest count since … [Read more...]
What’s Motivating Homeowners To Move Right Now
Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home. Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long. But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of personal or lifestyle change. As Redfin explains:“Some … [Read more...]
The Majority of Veterans Are Unaware of a Key VA Loan Benefit
For over 79 years, Veterans Affairs (VA) home loans have helped countless Veterans achieve the dream of homeownership. But according to Veterans United, only 3 in 10 Veterans realize they may be able to buy a home without needing a down payment (see visual below):That’s why it’s so important for Veterans – and anyone who cares about a Veteran – to be aware of this valuable program. Knowing about the resources available can make the path to homeownership easier and keep life-changing plans from being put on hold. As … [Read more...]
Why You Need an Agent To Set the Right Asking Price
Some HighlightsThe #1 task sellers struggle with is setting the right asking price for their house.Without an agent’s help, you may set a price that turns away buyers and takes a long time to sell. To make sure your house is priced right, connect with a local agent. Because if the price isn’t compelling, it’s not selling. … [Read more...]
Renting vs. Buying: The Net Worth Gap You Need To See
Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth.Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant.On average, a homeowner’s net worth is nearly 40 times higher than a renter’s. Check out the graph below to see the difference for yourself:Why Homeowner Wealth Is So HighIn … [Read more...]
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