There’s no denying affordability is tough right now. But that doesn’t mean you have to put your plans to buy a home on the back burner.If you’re willing to roll up your sleeves (or hire someone who will), buying a house that needs some work could open the door to homeownership. Here’s everything you need to know so you can decide if this is the right move for you.What’s a Fixer-Upper?A fixer-upper is a home that’s livable but requires some renovations. Think cosmetic updates like wallpaper removal and new flooring … [Read more...]
Two Resources That Can Help You Buy a Home Right Now
A recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into … [Read more...]
Why Moving to a More Affordable Area Makes Sense
Moving to a more affordable area could be the fresh start you need to get ahead financially. While some markets are certainly more affordable than others, know that working with a trusted real estate agent to find what fits your budget and your desired location – no matter where you want to be – is always the best plan. And with the rising cost of living, many people are rethinking where they live and looking for ways to cut expenses. If that sounds like you, here’s a great place to start (see visual below):These … [Read more...]
What Will It Take for Prices To Come Down?
You may be wondering if home prices are going to crash. And believe it or not, some people might even be hoping this happens so they can finally purchase a more affordable home. But experts agree that's not what's in the cards – and here's why.There are more people who want to buy a home than there are homes available to purchase. That’s what drives prices up.Let’s break that down and explore why, nationally, home prices aren’t going to be coming down anytime soon.Prices Depend on Supply and DemandThe housing … [Read more...]
Is a Fixer Upper Right for You?
Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.What Is a Fixer Upper?A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal … [Read more...]
Why Your House Will Shine in Today’s Market
Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got moving on your mind, your house can really stand out.There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move.What’s Causing the Shortage?1. Underproduction of Homes: For years, the industry hasn’t built … [Read more...]
What To Expect from Mortgage Rates and Home Prices in 2025
Curious about where the housing market is headed in 2025? The good news is that experts are offering some promising forecasts, especially when it comes to two key factors that directly affect your decisions: mortgage rates and home prices.Whether you're thinking of buying or selling, here’s a look at what the experts are saying and how it might impact your move.Mortgage Rates Are Forecast To Come Down One of the biggest factors likely affecting your plans is mortgage rates, and the forecast looks positive. After … [Read more...]
The Benefits of Using Your Equity To Make a Bigger Down Payment
Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):Here’s why equity makes this possible. … [Read more...]
The Top 3 Reasons Affordability Is Improving
Some HighlightsAffordability is based on three key factors: mortgage rates, home prices, and wages.And today, it’s improving quickly as rates come down, prices level off, and wages climb. If you put your search on pause because it was too expensive to buy, connect with an agent to talk about why now may be the perfect time to jump back in. … [Read more...]
Buying Beats Renting in 22 Major U.S. Cities
That’s right—according to a recent study from Zillow, in 22 of the 50 largest metro areas, monthly mortgage payments are now lower than rent payments (see chart below):As mortgage rates have eased off their recent peak, home prices have moderated, and inventory has ticked up, affordability has improved significantly. When you add all of that up, it’s getting less expensive to buy a home than to rent one in many parts of the country.This is a big deal if you’ve been renting for a while now. But if you don’t see your … [Read more...]
