Let’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.1. Less … [Read more...]
Smaller Homes, Bigger Opportunities: The Homebuilder Trend Buyers Love
It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.Builders Are Building Smaller Homes Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to … [Read more...]
If Your House’s Price Is Not Compelling, It’s Not Selling
There’s one big mistake you need to avoid when you sell your house this year: setting your price too high. It might seem like overpricing gives you room to negotiate or could really boost your profit, but the reality is, it usually backfires.In fact, Realtor.com says almost 20% of sellers — that’s one in five — have to reduce their price to get their house sold. And you don’t want to be one of them. Here’s why starting too high can lead to trouble, and how to avoid it.Overpricing Pushes Buyers AwayWith mortgage … [Read more...]
When Is the Perfect Time To Move?
It’s easy to get caught up in the idea of waiting for the perfect moment to make your move – especially in today’s market. Maybe you’re holding out and hoping mortgage rates will drop, or that home prices will fall. But here’s what you need to realize: trying to time the market rarely works. And here’s why.There is no perfect market.No matter when you buy, there’s always some benefit and some sort of trade-off – and that’s not a bad thing. That’s just the reality of it. If you’re not sure you buy into that, think … [Read more...]
2025 Housing Market Forecasts
Some HighlightsWondering what to expect when you buy or sell a home this year? Here’s what the experts say lies ahead.Mortgage rates are projected to come down slightly. Home prices are forecast to rise in most areas. And, there will be more homes available for sale.Want to know more about what this could mean for your plans this year? Connect with a local agent to discuss your 2025 goals. … [Read more...]
One Homebuying Step You Don’t Want To Skip: Pre-Approval
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.What Is Pre-Approval?Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:W-2s from the last … [Read more...]
How Much Home Equity Have You Gained? The Answer Might Surprise You
Have you ever stopped to think about how much wealth you’ve built up just from being a homeowner? As home values rise, so does your net worth. And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.What Is Home Equity?Home equity is the difference between what your house is worth and what you owe on your mortgage. For example, if your house is worth $500,000 and you still owe $200,000 on your home loan, you have … [Read more...]
Expert Forecasts for the 2025 Housing Market
Wondering what’s in store for the housing market this year? And more specifically, what it all means for you if you plan to buy or sell a home? The best way to get that information is to lean on the pros.Experts are constantly updating and revising their forecasts, so here’s the latest on two of the biggest factors expected to shape the year ahead: mortgage rates and home prices.Will Mortgage Rates Come Down?Everyone’s keeping an eye on mortgage rates and waiting for them to come down. So, the question is really: … [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...]
Why Owning a Home Is Worth It in the Long Run
Today’s mortgage rates and home prices may have you second-guessing whether it's still a good idea to buy a home right now. While market factors are definitely important, there’s also a bigger picture to consider: the long-term benefits of homeownership. Think of it this way. If you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. That’s because over time, home values usually grow – and that means a homeowner’s net worth … [Read more...]
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