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1775 search results for: the impact of increasing mortgage rates

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Affordability is still a challenge, so if you’re looking to buy, you’re going to want to make sure you’re taking advantage of any and all resources available.

The best way to find out what’s out there is to connect with a team of real estate professionals, including a trusted lender and a local agent. 

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There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. 

A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list:

53% said they need help understanding homebuying grant programs.

So, here’s some information that can help you close that gap.

What Is Down Payment Assistance?

As the Mortgage Reports explains:

“Down payment assistance (DPA) programs offer loans and grants that can cover part or all of a home buyer’s down payment and closing costs. More than 2,000 of these programs are available nationwide. . . DPA programs vary by location, but many home buyers could be in line for thousands of dollars in down payment assistance if they qualify.”

And here’s some more good news. On top of all of these programs, you probably don’t need to save as much for your down payment as you think. Contrary to what you may have heard, typically you don’t have to put 20% down unless it’s specified by your loan type or lender. So, you likely don’t need to save as much upfront, and there are programs designed to make your down payment more achievable. Sounds like a win-win.

First-Time and Repeat Buyers Are Often Eligible

It’s also worth mentioning, that it’s not just first-time homebuyers that are eligible for many of these programs. That means whether you’re looking to buy your first house or your fifth, there could be an option for you. As Down Payment Resource notes:

You don’t have to be a first-time buyer. Over 39% of all [homeownership] programs are for repeat homebuyers who have owned a home in the last 3 years.”

Additional Down Payment Resources That Can Help

Here are a few of the down payment assistance programs that are helping many buyers achieve their dream of homeownership, even now:

  • Teacher Next Door is designed to help teachers, first responders, health providers, government employees, active-duty military personnel, and Veterans reach their down payment goals.
  • Fannie Mae provides down payment assistance to eligible first-time homebuyers living in majority-Latino communities.
  • Freddie Mac also has options designed specifically for homebuyers with modest credit scores and limited funds for a down payment.
  • The 3By30 program lays out actionable strategies to add 3 million new Black homeowners by 2030. These programs offer valuable resources for potential buyers, making it easier to secure down payments and realize their dream of homeownership.
  • For Native Americans, Down Payment Resource highlights 42 U.S. homebuyer assistance programs across 14 states that ease the path to homeownership by providing support with down payments and other associated costs.

If you want more information on any of these, the best place to start is by contacting a trusted real estate professional.

They’ll be able to share more details about what may be available, including any other programs designed to serve specific professions or communities. And even if you don’t qualify for these types of programs, they can help see if there are any other federal, state, and local options available you should look into. 

[created_at] => 2024-06-11T15:03:10Z [description] =>

There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240611/20240619-What-You-Need-To-Know-About-Today-s-Down-Payment-Programs-original.png [id] => 54455 [kcm_ig_caption] => There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. A recent Bank of America Institute study asked prospective buyers where they lack confidence in the process and need more information. And this is what topped the list: 53% said they need help understanding homebuying grant programs. So, here’s some information that can help you close that gap. What Is Down Payment Assistance? Contrary to what you may have heard, typically you don’t have to put 20% down unless it’s specified by your loan type or lender. So, you likely don’t need to save as much upfront, and there are programs designed to make your down payment more achievable. Sounds like a win-win. First-Time and Repeat Buyers Are Often Eligible It’s also worth mentioning, that it’s not just first-time homebuyers that are eligible for many of these programs. That means whether you’re looking to buy your first house or your fifth, there could be an option for you. Affordability is still a challenge, so if you’re looking to buy, you’re going to want to make sure you’re taking advantage of any and all resources available. The best way to find out what’s out there is to connect with a team of real estate professionals, including a trusted lender and a local agent. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,keepingcurrentmatters [kcm_ig_quote] => What you need to know about today’s down payment programs. [public_bottom_line] =>

Affordability is still a challenge, so if you’re looking to buy, you’re going to want to make sure you’re taking advantage of any and all resources available.

The best way to find out what’s out there is to connect with a team of real estate professionals, including a trusted lender and a local agent. 

[published_at] => 2024-06-19T10:30:00Z [related] => Array ( ) [slug] => what-you-need-to-know-about-todays-down-payment-programs [status] => published [tags] => Array ( ) [title] => What You Need To Know About Today’s Down Payment Programs [updated_at] => 2024-06-19T10:30:13Z [url] => /2024/06/19/what-you-need-to-know-about-todays-down-payment-programs/ )

What You Need To Know About Today’s Down Payment Programs

There's no denying it's gotten more challenging to buy a home, especially with today's mortgage rates and home price appreciation.

2
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Remember, you can’t control what happens in the broader economy. But you can control the controllables.

Work with a trusted lender to go over the things you can do that’ll make a difference. By being strategic with these factors, you may be able to combat today’s higher rates and lock in the lowest one you can.

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Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do.

The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky.

That’s why it’s generally not worth it to try to time the market. There’s too much at play that you can’t control. The best thing you can do is control the controllables.

And when it comes to rates, here’s what you can influence to make your moving plans a reality.

Your Credit Score

Credit scores can play a big role in your mortgage rate. As an article from CNET explains:

You can’t control the economic factors influencing interest rates. But you can get the best rate for your situation, and improving your credit score is the right place to start. Lenders look at your credit score to decide whether to approve you for a loan and at what interest rate. A higher credit score can help you secure a lower interest rate, maybe even better than the average.”

That’s why it’s even more important to maintain a good credit score right now. With rates where they are, you want to do what you can to get the best rate possible. If you want to focus on improving your score, your trusted loan officer can give you expert advice to help.

Your Loan Type

There are many types of loans, each offering different terms for qualified buyers. The Consumer Financial Protection Bureau (CFPB) says:

There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose.”

When working with your team of real estate professionals, make sure you find out what’s available for your situation and which types of loans you may qualify for.

Your Loan Term

Another factor to consider is the term of your loan. Just like with loan types, you have options. Freddie Mac says:

When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

Depending on your situation, the length of your loan can also change your mortgage rate.

[created_at] => 2024-06-11T14:41:58Z [description] =>

Chances are you’re hearing a lot about mortgage rates right now.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240611/20240618-Worried-About-Mortgage-Rates-Control-the-Controllables-original.png [id] => 54452 [kcm_ig_caption] => Chances are you’re hearing a lot about mortgage rates right now. You may even see some headlines talking about last week’s Federal Reserve (the Fed) meeting and what it means for rates. But the Fed doesn’t determine mortgage rates, even if the headlines make it sound like they do. The truth is, mortgage rates are impacted by a lot of factors: geo-political uncertainty, inflation and the economy, and more. And trying to pin down when all those factors will line up enough for rates to come down is tricky. That’s why it’s generally not worth it to try to time the market. There’s too much at play that you can’t control. The best thing you can do is control the controllables. And when it comes to rates, here’s what you can influence to make your moving plans a reality. Your Credit Score Credit scores can play a big role in your mortgage rate. That’s why it’s even more important to maintain a good credit score right now. Your Loan Type There are many types of loans, each offering different terms for qualified buyers. When working with your team of real estate professionals, make sure you find out what’s available for your situation and which types of loans you may qualify for. Your Loan Term Another factor to consider is the term of your loan. Just like with loan types, you have options. Depending on your situation, the length of your loan can also change your mortgage rate. Remember, you can’t control what happens in the broader economy. But you can control the controllables. Work with a trusted lender to go over the things you can do that’ll make a difference. By being strategic with these factors, you may be able to combat today’s higher rates and lock in the lowest one you can. [kcm_ig_hashtags] => expertanswers,stayinformed,keepingcurrentmatters [kcm_ig_quote] => Worried about mortgage rates? Control the controllables. [public_bottom_line] =>

Remember, you can’t control what happens in the broader economy. But you can control the controllables.

Let’s connect to go over the things you can do that’ll make a difference. By being strategic with these factors, you may be able to combat today’s higher rates and lock in the lowest one you can.

[published_at] => 2024-06-18T10:30:00Z [related] => Array ( ) [slug] => worried-about-mortgage-rates-control-the-controllables [status] => published [tags] => Array ( [0] => content-hub ) [title] => Worried About Mortgage Rates? Control the Controllables [updated_at] => 2024-06-18T10:30:41Z [url] => /2024/06/18/worried-about-mortgage-rates-control-the-controllables/ )

Worried About Mortgage Rates? Control the Controllables

Chances are you’re hearing a lot about mortgage rates right now.

3
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While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient. For help navigating the market, election year or not, let’s connect.

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The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market.

It’s a great question because buying or selling a home is a major decision, and it’s natural to wonder how such a major event might impact your plans.

Historically, Presidential elections have only had a small, temporary impact on the housing market. Here’s the latest on exactly what’s happened to home sales, prices, and mortgage rates throughout those time periods.

Home Sales

During the month of November, in years when the Presidential election takes place, there’s typically a slight slowdown in home sales. As Ali Wolf, Chief Economist at Zonda, explains:

“Usually, home sales are unchanged compared to a non-election year with the exception being November. In an election year, November is slower than normal.

This is mostly because some people feel uncertain and hesitant about making big decisions during such a pivotal time. However, it’s important to know this slowdown is temporary. Historically, home sales bounce back in December and continue to rise the following year.

In fact, data from the Department of Housing and Urban Development (HUD) and the National Association of Realtors (NAR) shows after nine of the last 11 Presidential elections, home sales went up the next year (see graph below): No Caption Received


The graph shows annual home sales going back to 1978. Each year with a Presidential election is noted in blue. The year immediately after each election is green if existing home sales rose that year. The two orange bars represent the only years when home sales decreased after an election.

Home Prices

What about home prices? Do they drop during election years? Not typically. As residential appraiser and housing analyst Ryan Lundquist puts it:

“An election year doesn’t alter the price trend that is already happening in the market.”

Home prices are pretty resilient. They generally rise year-over-year, regardless of elections. The latest data from NAR shows after seven of the last eight Presidential elections, home prices increased the following year (see graph below): No Caption Received


Just like the previous graph, this shows election years in blue. The only year when prices declined after an election is in orange. That was during the housing market crash, which was far from a typical year. Today’s market is different than it was back then.

All the green bars represent when prices rose the following year. So, if you're worried about your home losing value because of an election, you can rest easy knowing prices rise after most Presidential elections.

Mortgage Rates

Mortgage rates are important because they affect how much your monthly payment will be when you buy a home. Looking at the last 11 Presidential election years, data from Freddie Mac shows mortgage rates decreased from July to November in eight of them (see chart below): No Caption Received


Most forecasts expect mortgage rates to ease slightly throughout the remainder of the year. If they’re right, this year will follow the trend of declining rates leading up to most previous elections. And if you’re looking to buy a home in the coming months, this could be good news, as lower rates could mean a lower monthly payment.

What This Means for You

So, what’s the big takeaway? While Presidential elections do have some impact on the housing market, the effects are usually small and temporary. As Lisa Sturtevant, Chief Economist at Bright MLS, says:

“Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years.”

For most buyers and sellers, elections don’t have a major impact on their plans.

[created_at] => 2024-06-13T15:54:37Z [description] =>

The 2024 Presidential election is just months away.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240613/20240617-Do-Elections-Impact-the-Housing-Market-original.png [id] => 54668 [kcm_ig_caption] => The 2024 Presidential election is just months away. As someone who’s thinking about potentially buying or selling a home, you’re probably curious about what effect, if any, elections have on the housing market. Home Sales During the month of November, in years when the Presidential election takes place, there’s typically a slight slowdown in home sales. As Ali Wolf, Chief Economist at Zonda, explains: “Usually, home sales are unchanged compared to a non-election year with the exception being November. In an election year, November is slower than normal.” Home Prices What about home prices? Do they drop during election years? Not typically. As residential appraiser and housing analyst Ryan Lundquist puts it: “An election year doesn’t alter the price trend that is already happening in the market.” Mortgage Rates Mortgage rates are important because they affect how much your monthly payment will be when you buy a home. Looking at the last 11 Presidential election years, data from Freddie Mac shows mortgage rates decreased from July to November in eight of them. What This Means for You So, what’s the big takeaway? While Presidential elections do have some impact on the housing market, the effects are usually small and temporary. As Lisa Sturtevant, Chief Economist at Bright MLS, says: “Historically, the housing market doesn’t tend to look very different in presidential election years compared to other years.” For most buyers and sellers, elections don’t have a major impact on their plans. While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient. For help navigating the market, election year or not, DM me. [kcm_ig_hashtags] => realestatenews,realestateagent,keepingcurrentmatters [kcm_ig_quote] => Do elections impact the housing market? [public_bottom_line] =>

While it’s natural to feel a bit uncertain during an election year, history shows the housing market remains strong and resilient. If you have questions, reach out to a local real estate agent. They’re here to help you navigate the market, election year or not.

[published_at] => 2024-06-17T10:30:00Z [related] => Array ( ) [slug] => do-elections-impact-the-housing-market [status] => published [tags] => Array ( [0] => content-hub ) [title] => Do Elections Impact the Housing Market? [updated_at] => 2024-06-17T10:30:40Z [url] => /2024/06/17/do-elections-impact-the-housing-market/ )

Do Elections Impact the Housing Market?

The 2024 Presidential election is just months away.

4
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While it’s true new home construction is a bigger segment of the market than the norm, that’s not a bad thing. Builders aren’t overbuilding, and they’re responding to market signals to avoid repeating the mistakes that were made in 2008.

 

If you want to buy now while new home options may be at their peak, let’s connect.

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You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know.

Why This Isn’t Like 2008

People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home construction has ramped up.

Even though the supply of new homes has grown this year, the data shows there’s no need to worry. Builders aren’t overbuilding, they’re just catching up. 

The graph below uses data from the Census to show the number of new houses built over the last 52 years. Following the crash in 2008, there was a long period of underbuilding (shown in red). And it wasn’t until recently that we finally met the long-term average for how many homes are built in a typical year. No Caption Received


This shows, that even with the increase in new builds we’ve seen lately, there won’t suddenly be an oversupply of homes for sale. There’s too much of a gap to make up after over a decade of underbuilding. And if you’re still worried builders are overdoing it, here’s something else that should be reassuring. 

New Home Construction May Be at Its Peak for the Year

The latest data from the Census on housing starts (homes where builders just broke ground) and permits (homes where builders can start development soon) shows builders are slowing down their pace right now. Why is that?

They’re responding to still high mortgage rates and how those are impacting buyer demand. Basically, they’re pulling back appropriately in response to what’s happening in the market. As an article from HousingWire explains

“Even with a massive housing shortage across the nation, homebuilders are completing their pipelines and not seeking as many permits to construct new single-family houses.” 

Builders remember what happened when they overbuilt in the crash, and they’re looking to avoid a repeat of that. So, they’re being mindful and pulling back a bit.

You May Have More Options Now Versus Later

If you’re considering a newly built home, here’s how this impacts you. With builders seeking fewer permits and not breaking ground on as many new homes, we may be at the peak of new home construction for the year. This doesn’t mean new home construction is screeching to a stop – just that the pace is slowing down now, and that’ll impact what comes to market later this year. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Given the recent declines in housing starts, home completions will steadily show declines in about six months.”

So, if you’re ready and able to buy now, you may find you’ll have more newly built options to choose from now versus later on. This may be enough reason to kick off your search.

Just be sure to work with a local real estate agent you know and trust throughout the process. An agent will have valuable insight into builder reputations and other key factors specific to your market. And if there isn’t much new construction near you, they’ll be able to point you toward a nearby area where there is.

[created_at] => 2024-06-11T13:29:35Z [description] =>

You may have heard that there are more brand-new homes available right now than the norm.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240611/20240613-Homebuilders-Aren-t-Overbuilding-They-re-Catching-Up-original.png [id] => 54434 [kcm_ig_caption] => You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know. Why This Isn’t Like 2008 People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home construction has ramped up. Even though the supply of new homes has grown this year, the data shows there’s no need to worry. Builders aren’t overbuilding, they’re just catching up. New Home Construction May Be at Its Peak for the Year Builders remember what happened when they overbuilt in the crash, and they’re looking to avoid a repeat of that. So, they’re being mindful and pulling back a bit. You May Have More Options Now Versus Later So, if you’re ready and able to buy now, you may find you’ll have more newly built options to choose from now versus later on. This may be enough reason to kick off your search. Just be sure to work with a local real estate agent you know and trust throughout the process. While it’s true new home construction is a bigger segment of the market than the norm, that’s not a bad thing. Builders aren’t overbuilding, and they’re responding to market signals to avoid repeating the mistakes that were made in 2008. If you want to buy now while new home options may be at their peak, DM me. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,keepingcurrentmatters [kcm_ig_quote] => Homebuilders aren’t overbuilding, they’re catching up. [public_bottom_line] =>

While it’s true new home construction is a bigger segment of the market than the norm, that’s not a bad thing. Builders aren’t overbuilding, and they’re responding to market signals to avoid repeating the mistakes that were made in 2008.

 

If you want to buy now while new home options may be at their peak, reach out to a local real estate agent. 

[published_at] => 2024-06-13T10:30:00Z [related] => Array ( ) [slug] => homebuilders-arent-overbuilding-theyre-catching-up [status] => published [tags] => Array ( [0] => content-hub ) [title] => Homebuilders Aren’t Overbuilding, They’re Catching Up [updated_at] => 2024-06-13T10:30:36Z [url] => /2024/06/13/homebuilders-arent-overbuilding-theyre-catching-up/ )

Homebuilders Aren’t Overbuilding, They’re Catching Up

You may have heard that there are more brand-new homes available right now than the norm.

5
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(
    [agents_bottom_line] => 

While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace. 

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If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.

The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.

But a recent article from Redfin notes,

“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.”

And that might make you think prices are declining.

Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price reductions in May, which is up from 12.7% last May, that doesn’t mean overall home prices are falling.

The key is knowing the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar. Today’s buyers are savvy customers, and when they aren’t willing to pay a premium for a home because their budgets are strained by higher mortgage rates, sellers need to adjust. And that’s what’s happening right now.

Based on market factors and what offers that seller receives, that asking price can change. If a seller isn’t getting much foot traffic, you may see them revise the price and make an adjustment to reignite interest in the home – and sometimes that’s because they’ve overpriced it from the start. That’s where price reductions come in, and when you see “price drops” in a headline, it sounds like declining home prices.

Mike Simonsen, CEO and Founder of Altos Research, says:

“Not only is the share of homes with price cuts elevated compared to one year ago, but more price cuts are happening each week than last year.”

On the other hand, the final sold price is the amount a buyer actually pays when the transaction is complete.

Here’s the most important thing to note: Actual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years.

What Does This Mean for Home Prices?

So, while there's been an increase in price reductions recently, this doesn't mean overall home values are declining. Instead, it’s a sign that demand is moderating. And, as a result, sellers are adjusting their expectations to align with today's market reality.

Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices went up 6.6% over the last year (see below):No Caption Received


This map shows how prices rose just about everywhere in the country, indicating the market is not in decline.

So, while seller price reductions are often a leading indicator that prices may moderate in the months ahead, which experts have been saying for a while is expected to happen, they aren’t necessarily reason for alarm. The same article from Redfin also states:

“. . .those metrics suggest sale-price growth could soften in the coming months as persistently high mortgage rates turn off homebuyers. For now, the median-home sale price is up 4.3% year over year to another record high. . .”

And with inventory as tight as it is today, price moderation is much more likely in upcoming months than price declines.

Why This Is Good News for Buyers and Sellers

For buyers, more realistic asking prices mean a better chance of securing a home at a fair price. It also means you can enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket.

For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions.

[created_at] => 2024-06-10T16:55:06Z [description] =>

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240610/20240612-Home-Prices-Aren-t-Declining-But-Headlines-Might-Make-You-Think-They-Are-original.png [id] => 54367 [kcm_ig_caption] => If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices. The key is knowing the difference between the asking price and the sold price. Understanding Asking Price vs. Sold Price In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar. Here’s the most important thing to note: Actual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years. What Does This Mean for Home Prices? So, while there's been an increase in price reductions recently, this doesn't mean overall home values are declining. Why This Is Good News for Buyers and Sellers For buyers, more realistic asking prices mean a better chance of securing a home at a fair price. It also means you can enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket. For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions. While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace. [kcm_ig_hashtags] => realestate,homeownership,keepingcurrentmatters [kcm_ig_quote] => Home prices aren’t declining, but headlines might make you think they are. [public_bottom_line] =>

While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace.

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Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify.

6
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  • If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.
  • According to the FHFA, home values have increased by 315.7% since 1991.
  • Home equity is one reason owning your own place can really pay off in the long run. When you're ready, let's connect.
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No Caption Received

[created_at] => 2024-06-06T13:51:31Z [description] =>

If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240606/The-Wealthbuilding-Power-of-Homeownership--KCM-Share-original.png [id] => 54105 [kcm_ig_caption] => If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time. According to the FHFA, home values have increased by 315.7% since 1991. Home equity is one reason owning your own place can really pay off in the long run. When you're ready, DM me. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,keepingcurrentmatters [kcm_ig_quote] => The wealth-building power of homeownership. [public_bottom_line] =>
  • If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.
  • According to the FHFA, home values have increased by 315.7% since 1991.
  • Home equity is one reason owning your own place can really pay off in the long run. When you're ready, talk with a local real estate professional.
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The Wealth-Building Power of Homeownership [INFOGRAPHIC]

If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.

7
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If you want to find out how much equity you have and talk more about how it can make your next move possible, let’s connect.

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Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. Maybe you’re in the same boat.

But what if there was a way to offset these higher borrowing costs? There is. And the money you need probably already exists in your current home in the form of equity.

What Is Equity?

Think of equity as a simple math equation. Freddie Mac explains:

“. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.”

Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize.

The latest from the Census and ATTOM shows more than two out of three homeowners have either completely paid off their mortgages (shown in green in the chart below) or have at least 50% equity (shown in blue in the chart below):


That means the majority of homeowners have a game-changing amount of equity right now.

How Your Equity Can Help Fuel Your Move

After you sell your house, that equity can help you move without worrying as much about today’s mortgage rates. As Danielle Hale, Chief Economist for Realtor.com says:

“A consideration today's homeowners should review is what their home equity picture looks like. With the typical home listing price up 40% from just five years ago, many home sellers are sitting on a healthy equity cushion. This means they are likely to walk away from a home sale with proceeds that they can use to offset the amount of borrowing needed for their next home purchase.”

To give you some examples, here are a few ways you can use equity to buy your next home:

  • Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy your next home without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates. 
  • Make a larger down payment: Your equity could also be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much at today’s rates. 

The First Step: Determine How Much Equity You Have in Your Home

Want to find out how much equity you have? To do that, you’ll need two things:

  1. The current mortgage balance on your home
  2. The current value of your home

You can probably find the mortgage balance on your monthly mortgage statement. To understand the current market value of your house, you can pay hundreds of dollars for an appraisal, or you can contact a local real estate agent who will be able to present to you, at no charge, a professional equity assessment report (PEAR).

Once you’ve connected with a trusted local agent and run the numbers, you’re one step closer to making a move you may not have thought was realistic – all thanks to your equity.

[created_at] => 2024-05-31T17:29:00Z [description] =>

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240531/20240606-Your-Equity-Could-Make-a-Move-Possible-original.png [id] => 53718 [kcm_ig_caption] => Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move. What Is Equity? Think of equity as a simple math equation. Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize. The latest from the Census and ATTOM shows more than two out of three homeowners have either completely paid off their mortgages. That means the majority of homeowners have a game-changing amount of equity right now. How Your Equity Can Help Fuel Your Move • Be an all-cash buyer • Make a larger down payment The First Step: Determine How Much Equity You Have in Your Home Want to find out how much equity you have? To do that, you’ll need two things: 1. The current mortgage balance on your home 2. The current value of your home You can probably find the mortgage balance on your monthly mortgage statement. To understand the current market value of your house, you can pay hundreds of dollars for an appraisal, or you can contact a local real estate agent who will be able to present to you, at no charge, a professional equity assessment report (PEAR). Once you’ve connected with a trusted local agent and run the numbers, you’re one step closer to making a move you may not have thought was realistic – all thanks to your equity. If you want to find out how much equity you have and talk more about how it can make your next move possible, DM me. [kcm_ig_hashtags] => housingmarket,makememove,keepingcurrentmatters [kcm_ig_quote] => Your equity could make a move possible. [public_bottom_line] =>

If you want to find out how much equity you have and talk more about how it can make your next move possible, connect with a local real estate professional.

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Your Equity Could Make a Move Possible

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.

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With growing inventory and rising prices, you have a greater selection of luxury homes to choose from and an opportunity in front of you. Want to see the higher-end homes that are available in our area? Let’s connect today.

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If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why.

There Are More Luxury Homes To Choose From

What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing (see graph below):No Caption Received


As the graph shows, there are considerably more single-family luxury homes available now than there were a year ago. In fact, there are even more than there were just a month ago. This means you should have a wider variety of top-of-the-line homes to choose from, each with unique features and styles.

Whether you were searching for the latest design elements, like modern kitchens with chef-grade appliances, a breathtaking view, or integrated smart home technology, more luxury inventory means you should have an easier time finding one that matches your taste and lifestyle.

Rising Luxury Home Prices Can Help You Build Wealth

Another important factor to consider is that luxury home prices are on the rise. According to HousingWire, luxury home prices have increased by 8.7% over the past year. That’s why:

“People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise . . . They’re ready to buy with more optimism and less apprehension.

This means buying before prices climb higher – and while more inventory is on the market – may be your sweet spot. Because home prices are rising, owning a home could help you build more generational wealth over time. On the other hand, if you wait to buy, you might end up paying more for the same home later on as luxury prices continue to rise.

[created_at] => 2024-06-03T16:52:42Z [description] =>

If you’ve been looking for a home at the high-end of your market, but haven’t found the right one, you may have put your search on hold.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240603/20240605-The-Sweet-Spot-for-Buying-Luxury-Homes-original.png [id] => 53848 [kcm_ig_caption] => If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why. There Are More Luxury Homes To Choose From What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing. There are considerably more single-family luxury homes available now than there were a year ago. In fact, there are even more than there were just a month ago. This means you should have a wider variety of top-of-the-line homes to choose from, each with unique features and styles. Rising Luxury Home Prices Can Help You Build Wealth Another important factor to consider is that luxury home prices are on the rise. According to HousingWire, luxury home prices have increased by 8.7% over the past year. That’s why: “People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise . . . They’re ready to buy with more optimism and less apprehension.” With growing inventory and rising prices, you have a greater selection of luxury homes to choose from and an opportunity in front of you. Want to see the higher-end homes that are available in our area? DM me. [kcm_ig_hashtags] => dreamhome,opportunity,keepingcurrentmatters [kcm_ig_quote] => The sweet spot for buying luxury homes. [public_bottom_line] =>

With growing inventory and rising prices, you have a greater selection of luxury homes to choose from and an opportunity in front of you. Want to see the higher-end homes that are available in our area? Connect with a local real estate agent today.

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The Sweet Spot for Buying Luxury Homes

If you’ve been looking for a home at the high-end of your market, but haven’t found the right one, you may have put your search on hold.

9
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If you’re looking to make a move this June, let’s chat so you know what to expect. We’ll come up with a plan that factors in current market conditions, but still works for you.

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June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.

If You’re Buying This June

A lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now – and that means you’ll want to be ready for a bit more competition. But there is a silver lining to a move this time of year. This is also when more sellers will list – so you should find you have more options. As an article from Bankrate says:

Late spring and early summer are the busiest and most competitive time of year for the real estate market. There’s usually more inventory listed for sale than other times of year . . . This is a double-edged sword for a buyer, as you will be met with more opportunities but [also] much more competition.”

During this busy season, it’s extra important to work with a trusted real estate agent. Your agent will help you stay on top of the latest listings, share expertise on how to make a strong offer in a competitive market, and give you insight into things like what the home is actually worth so you can make an informed decision when you buy. As Forbes says:

Approaching the market confidently, armed with good information and grounded expectations will take you far. Don't let the hustle of the market convince you to buy something that’s not in your budget, or not right for your lifestyle.”

If You’re Selling This June

Because there are more buyers this time of year, you’re in a great spot as a seller. Many of those buyers are highly motivated to make their move happen before the next school year kicks off – so they’ll likely put in strong offers to try to make that possible. That means, if your house shows well and is listed at market value, you could see your house sell faster or for a higher price. According to the National Association of Realtors (NAR):

“Warmer weather and the end of the school year encourage more people to buy and sell, respectively. Buyers are looking to move and settle before the new school year begins, contributing to increased competition and, consequently, higher prices.”

You want to be sure you’ve got a great agent on your side to help you with the contingencies on those offers and any negotiations that take place so you can pick the best offer. Make sure you go over closing dates with your agent. Buyers trying to time their move with the school year may need to delay a bit or move faster. This can depend on the school calendar where you live. As U.S. News Real Estate explains:

“ . . if your house goes under contract in early summer, the buyer may ask for a delay in closing or move-in until the school year finishes or their current home has sold. Alternatively, a buyer later in summer may be looking to close quickly and move in under a month. Remain flexible to keep the deal running smoothly, and your buyer may be willing to throw in concessions, like covering some of your closing costs or overlooking the old roof.”
[created_at] => 2024-05-29T14:45:36Z [description] =>

June is a busy month in the housing market because a lot of people buy and sell this time of year.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240529/20240604-What-To-Expect-if-You-Buy-or-Sell-a-Home-This-June.png [id] => 53485 [kcm_ig_caption] => June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready. If You’re Buying This June A lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now – and that means you’ll want to be ready for a bit more competition. But there is a silver lining to a move this time of year. This is also when more sellers will list – so you should find you have more options. During this busy season, it’s extra important to work with a trusted real estate agent. If You’re Selling This June Because there are more buyers this time of year, you’re in a great spot as a seller. Many of those buyers are highly motivated to make their move happen before the next school year kicks off – so they’ll likely put in strong offers to try to make that possible. That means, if your house shows well and is listed at market value, you could see your house sell faster or for a higher price. You want to be sure you’ve got a great agent on your side to help you with the contingencies on those offers and any negotiations that take place so you can pick the best offer. If you’re looking to make a move this June, let’s chat so you know what to expect. We’ll come up with a plan that factors in current market conditions, but still works for you. [kcm_ig_hashtags] => realestateblog,realestatemarket,keepingcurrentmatters [kcm_ig_quote] => What to expect if you buy or sell a home this June. [public_bottom_line] =>

If you’re looking to make a move this June, chat with a real estate agent so you know what to expect and how to plan for current market conditions.

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What To Expect if You Buy or Sell a Home This June

June is a busy month in the housing market because a lot of people buy and sell this time of year.

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If you want to enjoy a sense of accomplishment and pride in where you’re living, let’s have a conversation to go over what you need to do now to make this future happen for you.

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With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it all.

And while you ultimately need to be able to afford a home you buy, don’t lose sight of why homeownership was so important to you in the first place. That’s because buying a home is so much more than just a financial transaction. As the National Association of Realtors (NAR) says:

“The benefits of purchasing and owning your place of residence are both financial and emotional – pride in homeownership and the feeling of security are huge intangible benefits.”

Here’s a look at just a few of those more emotional or lifestyle perks, to help anchor you to why homeownership is one of your goals.

A Sense of Satisfaction

Owning a home is often associated with better mental health and well-being. That’s probably because buying a home is a big milestone. And the sense of satisfaction and pride that comes with achieving that goal just feels good. A recent article from the Mortgage Reports says:

“By and large, homeownership brings more satisfaction than renting. . . Surveyees scored the overall happiness level of homeowners at 88% compared to 67% for renters.”

More Stability for Your Family

Another thing that may make homeowners feel more satisfied is that they’re finally able to put down roots. Think about it. If you’re used to moving each time your lease renews and your rent climbs, staying put for a while would be nice not just for you, but for any loved ones that live with you.

A home can provide more predictability and the chance to make long-term friends. That should reduce everyone’s stress too. As NAR explains:

“Families also benefit from homeownership, with studies proving that parents are able to spend less time in a stressed state, therefore spending more time with their children. The ability for parents to feel stable has a huge impact on children’s behavioral issues, educational success, and future economic success.”

A Stronger Feeling of Community

And if you’re also looking for a sense of belonging for yourself, homeownership can help with that too. As FinHabits says:

“Homeowners tend to be more involved in their local communities, leading to a stronger sense of belonging . . .”

It makes sense. Your home connects you to your neighborhood and, by extension, your broader community. That’s because owning a home gives you a stake in that community’s future. So, becoming more involved and wanting to do what you can to help improve the area while making long-term relationships with neighbors is only natural.

The Ability To Make the Space Your Own

And don’t forget, your home is a place that’s all yours. Unless you’ve got specific homeowner’s association requirements, you’re free to customize it however you see fit.

So, if renting has been cramping your style, it’s time to express yourself and jump on the latest trends (if you want to). Whether that’s small home improvements or full-on renovations, your house can be exactly what you want and need it to be. And as your tastes and lifestyle change, so can your home. Picture coming home each day to a place that feels like you. That’s a feeling like no other. 

[created_at] => 2024-05-28T18:47:46Z [description] =>

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240528/20240603-More-Than-a-House-The-Emotional-Benefits-of-Homeownership.png [id] => 53418 [kcm_ig_caption] => With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it all. And while you ultimately need to be able to afford a home you buy, don’t lose sight of why homeownership was so important to you in the first place. That’s because buying a home is so much more than just a financial transaction. Here’s a look at just a few of those more emotional or lifestyle perks, to help anchor you to why homeownership is one of your goals. A Sense of Satisfaction Owning a home is often associated with better mental health and well-being. T More Stability for Your Family Another thing that may make homeowners feel more satisfied is that they’re finally able to put down roots. A Stronger Feeling of Community And if you’re also looking for a sense of belonging for yourself, homeownership can help with that too. The Ability To Make the Space Your Own And don’t forget, your home is a place that’s all yours. Unless you’ve got specific homeowner’s association requirements, you’re free to customize it however you see fit. So, if renting has been cramping your style, it’s time to express yourself and jump on the latest trends (if you want to). If you want to enjoy a sense of accomplishment and pride in where you’re living, let’s have a conversation to go over what you need to do now to make this future happen for you. [kcm_ig_hashtags] => confidentdecisions,realestate,keepingcurrentmatters [kcm_ig_quote] => More than a house: the emotional benefits of homeownership. [public_bottom_line] =>

If you want to enjoy a sense of accomplishment and pride in where you’re living, connect with a real estate agent to go over what you need to do now to make this future happen for you.

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More Than a House: The Emotional Benefits of Homeownership

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home.

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Mistakes can cost you time, frustration, and money. If you want to buy a home in today’s market, let’s connect so you have a pro on your side who can help you avoid these missteps.

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Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.

But, there's one way to avoid getting tripped up – and that’s leaning on a real estate agent for the best possible advice. An expert’s insights will help you avoid some of the most common mistakes homebuyers are making right now.

Putting Off Pre-approval

As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. While house hunting can be a lot more fun than talking about finances, you don’t want to do this out of order. Make sure you get your pre-approval first. As CNET explains:

“If you wait to get preapproved until the last minute, you might be scrambling to contact a lender and miss the opportunity to put a bid on a home.”

Holding Out for Perfection

While you may have a long list of must-haves and nice-to-haves, you need to be realistic about your home search. Even though your ideal state is you find a home that checks every box, you may need to be willing to compromise – especially since inventory is still low. Plus, a home that has everything you want may be too pricey. As Investopedia puts it:

When you expect to find the perfect home, you could prolong the homebuying process by holding out for something better. Or you could end up paying more for a home just because it meets all your needs.”

Instead, look for something that has most of your must-haves and good bones where you can add anything else you may need down the line.

Buying More House Than You Can Afford

With today’s mortgage rates and home prices, there’s no arguing it’s expensive to buy a home. And while it may be tempting to stretch your finances a bit further than you’re comfortable with to make sure you get the house, you want to avoid overextending your budget. Make sure you talk to your agent about how changing mortgage rates impact your monthly payment. Bankrate offers this advice:

“Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations. Every borrower’s case is different, so factor in your whole financial profile when determining how much house you can afford.”

Not Working with a Local Real Estate Agent

This last one may be the most important of all. Buying a home is a process that involves a lot of steps, paperwork, negotiation, and more. Rather than take all of this on yourself, it’s a good idea to have a pro working with you. The right agent will reduce your stress and help the process go smoothly. As CNET explains:

Attempting to buy a home without a real estate agent makes the process more arduous than it needs to be. A real estate agent can give you professional legal guidance, market expertise and support, which will save you time, money and stress. They can also increase your chances of finding the right home so you don’t have to spend hours scouring the internet for listings.”  
[created_at] => 2024-05-22T14:06:17Z [description] =>

Buyers face challenges in any market – and today’s is no different.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240522/20240530-The-Biggest-Mistakes-Buyers-Are-Making-Today.png [id] => 52922 [kcm_ig_caption] => Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider. Putting Off Pre-approval As part of the homebuying process, a lender will look at your finances to figure out what they’re willing to loan you for your mortgage. This gives you a good idea of what you can borrow so you can really wrap your head around the financial side of things before you start looking at homes. Make sure you get your pre-approval first. Holding Out for Perfection While you may have a long list of must-haves and nice-to-haves, you need to be realistic about your home search. Even though your ideal state is you find a home that checks every box, you may need to be willing to compromise – especially since inventory is still low. Buying More House Than You Can Afford With today’s mortgage rates and home prices, there’s no arguing it’s expensive to buy a home. Make sure you talk to your agent about how changing mortgage rates impact your monthly payment. Not Working with a Local Real Estate Agent This last one may be the most important of all. Buying a home is a process that involves a lot of steps, paperwork, negotiation, and more. Rather than take all of this on yourself, it’s a good idea to have a pro working with you. The right agent will reduce your stress and help the process go smoothly. Mistakes can cost you time, frustration, and money. If you want to buy a home in today’s market, let’s connect so you have a pro on your side who can help you avoid these missteps. [kcm_ig_hashtags] => homegoals,houseshopping,keepingcurrentmatters [kcm_ig_quote] => The biggest mistakes buyers are making today. [public_bottom_line] =>

Mistakes can cost you time, frustration, and money. If you want to buy a home in today’s market, connect with a local real estate agent so you have a pro on your side who can help you avoid these missteps.

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The Biggest Mistakes Buyers Are Making Today

Buyers face challenges in any market – and today’s is no different.

12
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Climate change is an important factor to think about when buying a home. After all, your home is a huge investment, and you want to be ready for anything that might affect it. Let’s chat so you can find the perfect home.

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Climate change is impacting where people buy homes. As the experts at the National Association of Realtors (NAR) explain:

“Sixty-three percent of people who have moved since the pandemic began say they believe climate change is—or will be—an issue in the place they currently live.”

If you’re planning to move, climate change is something you might want to consider, no matter where you are. A recent study from Realtor.com helps put the growing impact climate change is having on real estate into perspective (see below):

No Caption Received


So, how can you be sure your investment is safe from the elements?

For starters, work with a local real estate agent to understand the likelihood of your future home being exposed to hazards like wind, floods, and wildfires. Your agent will know the area and be able to tell you about the risks you’ll most likely face.

Beyond that, there are two important factors to think about: the quality of the home you want to buy and the insurance you’ll need to protect it.

A Home Built to Last

If you’re planning to be in your home for many years, you want to know it’s going to last. One way to think ahead is to work with your real estate agent to ensure the home you buy can withstand environmental hazards. They’re up to date on the most common building and remodeling techniques—like a secondary water barrier on the roof or noncombustible, fire-resistant exterior walls—used to protect homes from the effects of climate change.

And if the home you’re interested in doesn’t have the features you’re looking for, they can help you determine what you may be able to negotiate in the contract or what work it might require in the future.

Insurance To Protect It

Once you’re confident the home you’re looking at is well built, the next step is finding out what it’s going to take to insure it. As Selma Hepp, Chief Economist at CoreLogic, says:

“. . . homeowners are going to become increasingly more aware of risks of living in some areas as it becomes prohibitively expensive or very difficult to obtain hazard insurance.”

In areas where climate risks are having a bigger impact, the right home insurance can make a big difference. And the price of that insurance is an important factor when thinking about your budget and the true cost of buying and protecting your home. Get an insurance quote early in the process because you may want to compare multiple quotes and it can take several weeks to get them.

While this may feel like a lot to consider, don’t worry. An agent can help. Your real estate agent will be your go-to resource on the homebuying process, what to look for and consider, and how climate change may affect your next home. With the right planning and an agent's expert advice, you can make this happen. Homeownership is worth it. And with a great agent by your side, you can make sure the home you find is the right fit.

[created_at] => 2024-05-23T14:24:36Z [description] =>

Climate change is impacting where people buy homes.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240523/20240528-How-Do-Climate-Risks-Affect-Your-Next-Home.png [featured_image_meta] => [id] => 53058 [kcm_ig_caption] => If you’re planning to move, climate change is something you might want to consider, no matter where you are. So, how can you be sure your investment is safe from the elements? For starters, work with a local real estate agent to understand the likelihood of your future home being exposed to hazards like wind, floods, and wildfires. Your agent will know the area and be able to tell you about the risks you’ll most likely face. A Home Built to Last If you’re planning to be in your home for many years, you want to know it’s going to last. One way to think ahead is to work with your real estate agent to ensure the home you buy can withstand environmental hazards. They’re up to date on the most common building and remodeling techniques—like a secondary water barrier on the roof or noncombustible, fire-resistant exterior walls—used to protect homes from the effects of climate change. Insurance To Protect It In areas where climate risks are having a bigger impact, the right home insurance can make a big difference. And the price of that insurance is an important factor when thinking about your budget and the true cost of buying and protecting your home. Get an insurance quote early in the process because you may want to compare multiple quotes and it can take several weeks to get them. Climate change is an important factor to think about when buying a home. After all, your home is a huge investment, and you want to be ready for anything that might affect it. Let’s chat so you can find the perfect home. [kcm_ig_hashtags] => expertanswers,stayinformed,keepingcurrentmatters [kcm_ig_quote] => How do climate risks affect your next home? [public_bottom_line] =>

Climate change is an important factor to think about when buying a home. After all, your home is a huge investment, and you want to be ready for anything that might affect it. Chat with a local real estate agent so they can help you find the perfect home for you.

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How Do Climate Risks Affect Your Next Home?

Climate change is impacting where people buy homes.

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Owning a home is the American Dream. Veterans give a lot to protect our country, and one way to honor them is by making sure they know about VA home loans.

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For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you know has served in the military, it's important to learn about this program and its benefits.

Here are some key things to know about VA loans before buying a home.

Top Benefits of VA Home Loans

VA home loans make it easier for veterans to buy a home, and they're a great perk for those who qualify. According to the Department of Veteran Affairs, some benefits include:

  • Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. The Associated Press says:
“. . . about 90% of VA loans are used to purchase a home with no money down.”
  • Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs.
  • Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal.

An article from Veterans United sums up how remarkable this loan can be:

“For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.”
[created_at] => 2024-05-21T17:54:10Z [description] =>

For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240521/20240527-How-VA-Loans-Can-Help-You-Buy-a-Home.png [id] => 52857 [kcm_ig_caption] => For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes. If you or someone you know has served in the military, it's important to learn about this program and its benefits. Here are some key things to know about VA loans before buying a home. Top Benefits of VA Home Loans VA home loans make it easier for veterans to buy a home, and they're a great perk for those who qualify. According to the Department of Veteran Affairs, some benefits include: • Options for No Down Payment: Qualified borrowers can often purchase a home with no down payment. That’s a huge weight lifted when you’re trying to save for a home. The Associated Press says: “. . . about 90% of VA loans are used to purchase a home with no money down.” • Don’t Require Private Mortgage Insurance (PMI): Many other loans with down payments under 20% require PMI. VA loans do not, which means veterans can save on their monthly housing costs. • Limited Closing Costs: There are limits on the types of closing costs you pay when you qualify for a VA home loan. So, more money stays in your pocket when it’s time to seal the deal. An article from Veterans United sums up how remarkable this loan can be: “For the vast majority of military borrowers, VA loans represent the most powerful lending program on the market. These flexible, $0-down payment mortgages have helped more than 24 million service members become homeowners since 1944.” Owning a home is the American Dream. Veterans give a lot to protect our country, and one way to honor them is by making sure they know about VA home loans. [kcm_ig_hashtags] => housegoals,makememove,keepingcurrentmatters [kcm_ig_quote] => How VA loans can help you buy a home. [public_bottom_line] =>

Owning a home is the American Dream. Veterans give a lot to protect our country, and one way to honor them is by making sure they know about VA home loans.

[published_at] => 2024-05-27T10:30:00Z [related] => Array ( ) [slug] => how-va-loans-can-help-you-buy-a-home [status] => published [tags] => Array ( [0] => content-hub ) [title] => How VA Loans Can Help You Buy a Home [updated_at] => 2024-05-27T10:30:21Z [url] => /2024/05/27/how-va-loans-can-help-you-buy-a-home/ )

How VA Loans Can Help You Buy a Home

For over 80 years, Veterans Affairs (VA) home loans have helped millions of veterans buy their own homes.

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  • The asking price for your house can impact your bottom line and how quickly it sells.
  • Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise.
  • Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house.
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No Caption Received

[created_at] => 2024-05-21T14:39:57Z [description] =>

The asking price for your house can impact your bottom line and how quickly it sells.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240521/20240524-Your-Agent-Is-the-Key-To-Pricing-Your-House-Right-KCM-Share.png [id] => 52829 [kcm_ig_caption] => The asking price for your house can impact your bottom line and how quickly it sells. Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise. Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house. [kcm_ig_hashtags] => realestatetipsandadvice,justsold,keepingcurrentmatters [kcm_ig_quote] => Your agent is the key to pricing your house right. [public_bottom_line] =>
  • The asking price for your house can impact your bottom line and how quickly it sells.
  • Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise.
  • Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house.
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Your Agent Is the Key To Pricing Your House Right [INFOGRAPHIC]

The asking price for your house can impact your bottom line and how quickly it sells.

15
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If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com shows more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

If you want to talk more about any of these questions or need more information, let’s connect.

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There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move.

Here are three of the top questions you may be asking – and the data that helps answer them.

1. Should I Wait To Sell?

If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people.

And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. As Bright MLS says:

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home.

2. Are Buyers Still Out There?

But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. And here’s the data to prove it.

The ShowingTime Showing Index is a measure of how frequently buyers are touring homes. The graph below uses that index to show buyer activity for March (the latest data available) over the past seven years:No Caption Received


You can see demand has dipped some since the ‘unicorn’ years (shown in pink). That’s in response to a lot of market factors, like higher mortgage rates, rising prices, and limited inventory. But, to really understand today’s demand, you have to compare where we are now with the last normal years in the market (2018-2019) – not the abnormal ‘unicorn’ years. 

When you focus on just the blue bars, you can get an idea of how 2024 stacks up. And that gives you a whole new perspective.

Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell.

3. Can I Afford To Buy My Next Home?

And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize.

Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. You may even have enough to be an all-cash buyer and avoid taking out a mortgage altogether. As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”
[created_at] => 2024-05-21T13:43:53Z [description] =>

There’s no denying mortgage rates are having a big impact on today’s housing market.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240521/20240523-Questions-You-May-Have-About-Selling-Your-House.png [id] => 52818 [kcm_ig_caption] => There’s no denying mortgage rates are having a big impact on today’s housing market. And that may leave you with some questions about whether it still makes sense to sell your house and make a move. 1. Should I Wait To Sell? If you’re thinking about waiting to sell until after mortgage rates come down, here’s what you need to know. So are a ton of other people. And while mortgage rates are still forecasted to come down later this year, if you wait for that to happen, you may be dealing with a lot more competition as other buyers and sellers jump back in too. That means if you wait it out, you’ll have to deal with things like prices rising faster and more multiple-offer scenarios when you buy your next home. 2. Are Buyers Still Out There? But that doesn’t mean no one is moving right now. While some people are holding off, there are still plenty of buyers active today. Nationally, demand is still high compared to the last normal years in the housing market (2018-2019). And that means there’s still a market for your house to sell. 3. Can I Afford To Buy My Next Home? And if you’re worried about how you’ll afford your next move with today’s rates and prices, consider this: you probably have more equity in your current home than you realize. Homeowners have gained record amounts of equity over the past few years. And that equity can make a big difference when you buy your next home. If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. If you want to talk more about any of these questions or need more information, DM me. [kcm_ig_hashtags] => sellyourhouse,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Questions you may have about selling your house. [public_bottom_line] =>

If you’ve had these three questions on your mind and they’ve been holding you back from selling, hopefully, it helps to have this information now. A recent survey from Realtor.com found more than 85% of potential sellers have been considering selling for over a year. That means there are a number of sellers like you who are on the fence.

But that same survey also talked to sellers who recently decided to take the plunge and list. And 79% of those recent sellers wish they’d sold sooner.

If you want to talk more about any of these questions or need more information, contact a real estate agent.

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Questions You May Have About Selling Your House

There’s no denying mortgage rates are having a big impact on today’s housing market.

16
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Big investors aren’t buying all the homes out there. If you've got questions about what you're hearing about the housing market, let's chat. I can help you understand what's really going on.

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Are big investors really buying up all the homes today?

If you’re trying to find a house to buy, this may be something you’re wondering about. Maybe you’ve read about it or seen reels on social media saying investors buying all the homes is making it even harder to find what the average buyer is looking for. But spoiler alert – there’s a lot of misinformation out there. To clear things up, here's the scoop on what's really happening. A lot of the big investor activity is actually in the rearview mirror already.

The Wall Street Journal (WSJ) explains:

“Investors of all sizes spent billions of dollars buying homes during the pandemic. At the 2022 peak, they bought more than one in every four single-family homes sold, though more recently their activity has slowed as interest rates rose and supply became tighter.”

The key here is investor activity has slowed significantly, and even during the peak of investor buying, 3 out of every 4 single-family homes purchased were by regular, everyday buyers – not investors. And of the investors who bought over the past few years, most weren’t the big investors you may be hearing about. The vast majority were small mom-and-pop investors – people like your neighbors who own only a couple of homes, maybe even just their main residence and a vacation home.

But let’s focus on the giant, mega-investor firms since that's what is being talked about so frequently on social media right now. Mega investors are those who own 1,000+ properties. You may be surprised to see that, according to the Wall Street Journal, they don’t buy all that many homes (see graph below):

No Caption Received


This graph tells us two things. First, institutional investors were never buying a large percentage of available homes. During the peak in 2022, they bought about 2% of available single-family homes. Second, that percentage has gotten even smaller recently (so small the number rounds down to 0%).

In an effort to understand why that percentage is trending down, private lender RCN Capital asked investors about the challenges they’re facing. Here’s what Jeffrey Tesch, CEO of RCN Capital, found out:

“Investors are already facing many challenges in today’s housing market – rising prices, limited inventory, and higher financing costs.”

Understanding these challenges is important because they show big, mega investors aren’t taking over the housing market.

So, don't fall for everything you hear. They aren't snatching up all the homes and making it impossible for regular people to buy

[created_at] => 2024-05-20T17:48:14Z [description] =>

Are big investors really buying up all the homes today?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240520/20240522-How-Many-Homes-Are-Investors-Actually-Buying.png [id] => 52768 [kcm_ig_caption] => Are big investors really buying up all the homes today? If you’re trying to find a house to buy, this may be something you’re wondering about. To clear things up, here's the scoop on what's really happening. A lot of the big investor activity is actually in the rearview mirror already. The key here is investor activity has slowed significantly, and even during the peak of investor buying, 3 out of every 4 single-family homes purchased were by regular, everyday buyers – not investors. And of the investors who bought over the past few years, most weren’t the big investors you may be hearing about. The vast majority were small mom-and-pop investors – people like your neighbors who own only a couple of homes, maybe even just their main residence and a vacation home. But let’s focus on the giant, mega-investor firms since that's what is being talked about so frequently on social media right now. Mega investors are those who own 1,000+ properties. You may be surprised to see that, according to the Wall Street Journal, they don’t buy all that many homes. First, institutional investors were never buying a large percentage of available homes. During the peak in 2022, they bought about 2% of available single-family homes. Second, that percentage has gotten even smaller recently (so small the number rounds down to 0%). So, don't fall for everything you hear. They aren't snatching up all the homes and making it impossible for regular people to buy. Big investors aren’t buying all the homes out there. If you've got questions about what you're hearing about the housing market, let's chat. I can help you understand what's really going on. [kcm_ig_hashtags] => realestatenews,realestateagent,keepingcurrentmatters [kcm_ig_quote] => How many homes are investors actually buying? [public_bottom_line] =>

Big investors aren’t buying all the homes out there. If you've got questions about what you're hearing about the housing market, chat with a local real estate agent. They can help you understand what's really going on.

[published_at] => 2024-05-22T10:30:00Z [related] => Array ( ) [slug] => how-many-homes-are-investors-actually-buying [status] => published [tags] => Array ( [0] => content-hub ) [title] => How Many Homes Are Investors Actually Buying? [updated_at] => 2024-05-22T10:30:04Z [url] => /2024/05/22/how-many-homes-are-investors-actually-buying/ )

How Many Homes Are Investors Actually Buying?

Are big investors really buying up all the homes today?

17
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Let’s connect to make sure you have the latest information available on home prices and mortgage rate expectations. Together we’ll go over what the experts are saying so you can make an informed decision on your move.

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If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. You’re wondering what’s going to happen next. And if it’s worth it to move now, or better to wait it out.

The only thing you can really do is make the best decision you can based on the latest information available. So, here’s what experts are saying about both prices and rates.

1. What’s Next for Home Prices?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, experts are projecting home prices will continue to rise at least through 2028 (see the graph below):

No Caption Received


While the percent of appreciation varies year-to-year, this survey says we’ll see prices rise (not fall) for at least the next 5 years, and at a much more normal pace.

What does that mean for your move? If you buy now, your home will likely grow in value and you should gain equity in the years ahead. But, based on these forecasts, if you wait and prices continue to climb, the price of a home will only be higher later on. 

2. When Will Mortgage Rates Come Down?

This is the million-dollar question in the industry. And there’s no easy way to answer it. That’s because there are a number of factors that are contributing to the volatile mortgage rate environment we’re in. Odeta Kushi, Deputy Chief Economist at First American, explains:

“Every month brings a new set of inflation and labor data that can influence the direction of mortgage rates. Ongoing inflation deceleration, a slowing economy and even geopolitical uncertainty can contribute to lower mortgage rates. On the other hand, data that signals upside risk to inflation may result in higher rates.”

What happens next will depend on where each of those factors goes from here. Experts are optimistic rates should still come down later this year, but acknowledge changing economic indicators will continue to have an impact. As a CNET article says:

“Though mortgage rates could still go down later in the year, housing market predictions change regularly in response to economic data, geopolitical events and more.”

So, if you’re ready, willing, and able to afford a home right now, partner with a trusted real estate advisor to weigh your options and decide what’s right for you. 

[created_at] => 2024-05-14T18:17:34Z [description] =>

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240514/20240520-What-s-Next-for-Home-Prices-and-Mortgage-Rates.png [featured_image_meta] => [id] => 52301 [kcm_ig_caption] => If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates. 1. What’s Next for Home Prices? One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists. According to the most recent release, experts are projecting home prices will continue to rise at least through 2028. While the percent of appreciation varies year-to-year, this survey says we’ll see prices rise (not fall) for at least the next 5 years, and at a much more normal pace. 2. When Will Mortgage Rates Come Down? This is the million-dollar question in the industry. And there’s no easy way to answer it. That’s because there are a number of factors that are contributing to the volatile mortgage rate environment we’re in. What happens next will depend on where each of those factors goes from here. Experts are optimistic rates should still come down later this year, but acknowledge changing economic indicators will continue to have an impact. So, if you’re ready, willing, and able to afford a home right now, partner with a trusted real estate advisor to weigh your options and decide what’s right for you. DM me to make sure you have the latest information available on home prices and mortgage rate expectations. Together we’ll go over what the experts are saying so you can make an informed decision on your move. [kcm_ig_hashtags] => housingmarket,househunting,keepingcurrentmatters [kcm_ig_quote] => What’s next for home prices and mortgage rates? [public_bottom_line] =>

Connect with a trusted real estate agent to make sure you have the latest information available on home prices and mortgage rate expectations. Together you’ll go over what the experts are saying so you can make an informed decision on your move.

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What’s Next for Home Prices and Mortgage Rates?

If you’re thinking of making a move this year, there are two housing market factors that are probably on your mind: home prices and mortgage rates.

18
stdClass Object
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    [agents_bottom_line] => 

Let's team up so you have someone who can keep you in the loop on everything that might impact your move, like how many homes are up for sale right now.

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There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up.

There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023):

No Caption Received

 

As Realtor.com explains:

There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.”

But does this growing inventory make house hunting easier? Yes and no.

Using the latest weekly data from Calculated Risk, the graph below shows, that even with the growth lately, there are still way fewer homes for sale than there were in the last normal year in the housing market:

No Caption Received


What Does This Mean for You?

If you’ve been looking to buy but put your plans on hold because you just couldn’t find what you were searching for, you might see more options now than you did over the past few years – but don't expect a huge selection.

To check out your growing options, it's a good idea to work with a local real estate agent you trust. Real estate is all about location. And an agent can help you get the scoop on the homes available in the area you're interested in. Bankrate explains:

“In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.”
[created_at] => 2024-05-15T14:15:45Z [description] =>

There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240515/20240516-The-Number-of-Homes-for-Sale-Is-Increasing.png [id] => 52370 [kcm_ig_caption] => There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up. There are more homes up for grabs this year. As Realtor.com explains: “There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.” What Does This Mean for You? If you’ve been looking to buy but put your plans on hold because you just couldn’t find what you were searching for, you might see more options now than you did over the past few years – but don't expect a huge selection. To check out your growing options, it's a good idea to work with a local real estate agent you trust. Real estate is all about location. And an agent can help you get the scoop on the homes available in the area you're interested in. Bankrate explains: “In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.” Let's team up so you have someone who can keep you in the loop on everything that might impact your move, like how many homes are up for sale right now. [kcm_ig_hashtags] => housingmarket,househunting,keepingcurrentmatters [kcm_ig_quote] => The number of homes for sale is increasing. [public_bottom_line] =>

Team up with a local real estate agent who can keep you in the loop on everything that might impact your move, like how many homes are up for sale right now.

[published_at] => 2024-05-16T10:30:00Z [related] => Array ( ) [slug] => the-number-of-homes-for-sale-is-increasing [status] => published [tags] => Array ( ) [title] => The Number of Homes for Sale Is Increasing [updated_at] => 2024-05-16T10:30:59Z [url] => /2024/05/16/the-number-of-homes-for-sale-is-increasing/ )

The Number of Homes for Sale Is Increasing

There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around.

19
stdClass Object
(
    [agents_bottom_line] => 

It might be a good idea to think about condos in your home search. If you're ready to see what's out there, let's get in touch today.

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Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short.

They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below):

No Caption Received


So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet.

Besides giving you more options for your home search and maybe fitting your budget better, living in a condo has a bunch of other perks, too. According to Rocket Mortgage:

“From community living to walkable urban areas, condos are great options for first-time home buyers and people looking to enjoy homeownership without extensive upkeep.”

Let’s dive into a few of the draws of condos for first-time buyers from Bankrate:

  • They require less maintenance. Condos are great if you want to own your place but don't want to mow the lawn, shovel snow, or fix the roof. Your real estate agent can help explain any associated fees and details for the condos you’re interested in.
  • They allow you to start building equity. When you buy a condo, you build equity and your net worth as you make your mortgage payments and as your condo’s value goes up over time.
  • They often come with added amenities. Your condo might come with access to amenities like a pool, dog park, or parking. And the best part? You don’t have to take care of any of them.
  • They provide you with a sense of community. Buying a condo means you'll be living close to other people, which is nice if you enjoy having neighbors around and making friends. Many condo communities hold fun events like barbecues and parties during holidays for everyone to enjoy.


Remember, your first home doesn't have to be the one you stay in forever. The important thing is to get your foot in the door as a homeowner so you can start to gain home equity. Later on, that equity can help you buy another place if you need something different.

Ultimately, owning and living in a condo is a lifestyle choice. And if it’s one that appeals to you, they could provide the added options you need in today’s market.

[created_at] => 2024-05-13T18:36:02Z [description] =>

Having a hard time finding a first home that's right for you and your wallet?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240513/20240515-Why-a-Condo-May-Be-a-Great-Option-for-Your-First-Home.png [id] => 52117 [kcm_ig_caption] => Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short. They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet. Besides giving you more options for your home search and maybe fitting your budget better, living in a condo has a bunch of other perks, too. According to Rocket Mortgage: “From community living to walkable urban areas, condos are great options for first-time home buyers and people looking to enjoy homeownership without extensive upkeep.” Let’s dive into a few of the draws of condos for first-time buyers from Bankrate: • They require less maintenance. • They allow you to start building equity. • They often come with added amenities. • They provide you with a sense of community. Remember, your first home doesn't have to be the one you stay in forever. The important thing is to get your foot in the door as a homeowner so you can start to gain home equity. Later on, that equity can help you buy another place if you need something different. Ultimately, owning and living in a condo is a lifestyle choice. And if it’s one that appeals to you, they could provide the added options you need in today’s market. It might be a good idea to think about condos in your home search. If you're ready to see what's out there, let's get in touch today. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket [kcm_ig_quote] => Why a condo may be a great option for your first home. [public_bottom_line] =>

It might be a good idea to think about condos in your home search. If you're ready to see what's out there, get in touch with a local real estate agent today.

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Why a Condo May Be a Great Option for Your First Home

Having a hard time finding a first home that's right for you and your wallet?

20
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    [agents_bottom_line] => 

Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.

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Selling your house is a big decision. Your home is one of the biggest investments you’ve probably ever made, and it’s a place where you’ve created countless memories. That combo means there’s going to be a lot of emotions involved. You want someone who understands your perspective, knows what it feels like, and is an expert at helping homeowners just like you navigate the process of selling a home.

That’s where a good listing agent, also known as a seller's agent, comes in. Here are just a few skills you’ll want your agent to have.

The Ability To Turn Something Complex into Something Simple

Some agents are going to use big, fancy real estate terms to try and impress you. But you shouldn’t have to know all the industry jargon in order to understand what they’re saying. If anything, it's an agent’s job to keep it simple, so you don’t get overwhelmed or confused.

A great agent is going to be someone who is very good at explaining what’s happening in the housing market in a way that’s easy to understand. But they’ll take it one step further than that. They’ll explain what’s going on and, specifically, what that means for you. That way you’re always in the loop and it's a lot easier to feel confident when you’re making a big decision. As Business Insider explains:

“Maybe you have a better rapport with one of the agents you're considering, or you just feel like they're easier to approach. You're going to be working closely with this person, so it's important to choose an agent you're comfortable with.”

A Data-Based Approach on How To Price Your House

While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean your house will sit on the market longer because the higher price is actually turning away buyers.

Instead, partner with an agent who’s going to have an open conversation about how they recommend you should price your house. They won't throw out a number just to win your listing. A great agent will back up their number with solid data, explain their pricing strategy, and make sure you're both on the same page. As NerdWallet explains:

“An agent who recommends the highest price isn't always the best choice. Choose an agent who backs up the recommendation with market knowledge.”

A Fair, but Objective Negotiator

The home-selling process can be emotional, especially if you’ve been in your house for a long time. But that sentimental tie can make it harder to be objective during negotiations. That’s where a trusted professional can really make a difference.

They’re skilled negotiators who know how to stay calm under pressure. You can count on them to handle the back-and-forth and have your best interests at heart throughout the process. Not to mention, they’ll be able to rely on their market expertise and what they’re seeing work in other transactions to offer the best advice possible. As Rocket Mortgage explains:

“Whether this is your first or third time selling a house, listing agents work to help make the home selling process smoother and less stressful. These real estate professionals know the ins and outs of the industry and can help you secure the best deal.”
[created_at] => 2024-05-08T17:09:16Z [description] =>

Selling your house is a big decision.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240508/20240514-Thinking-of-Selling-You-Want-an-Agent-with-These-Skills.png [id] => 51779 [kcm_ig_caption] => Selling your house is a big decision. That’s where a good listing agent, also known as a seller's agent, comes in. Here are just a few skills you’ll want your agent to have. The Ability To Turn Something Complex into Something Simple Some agents are going to use big, fancy real estate terms to try and impress you. But you shouldn’t have to know all the industry jargon in order to understand what they’re saying. If anything, it's an agent’s job to keep it simple, so you don’t get overwhelmed or confused. A great agent is going to be someone who is very good at explaining what’s happening in the housing market in a way that’s easy to understand. A Data-Based Approach on How To Price Your House While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean your house will sit on the market longer because the higher price is actually turning away buyers. A Fair, but Objective Negotiator The home-selling process can be emotional, especially if you’ve been in your house for a long time. But that sentimental tie can make it harder to be objective during negotiations. That’s where a trusted professional can really make a difference. Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process. [kcm_ig_hashtags] => sellyourhouse,justsold,keepingcurrentmatters [kcm_ig_quote] => Thinking of selling? You want an agent with these skills. [public_bottom_line] =>

Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Connect with a real estate professional so you have a skilled local expert by your side to guide you through every step of the process.

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Thinking of Selling? You Want an Agent with These Skills

Selling your house is a big decision.

21
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    [agents_bottom_line] => 

The data shows home prices are increasing nationally. Let's chat to see exactly what’s going on with prices in our neighborhood.

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Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop.

The latest national data from Case-Shiller and the Federal Housing Finance Agency (FHFA) shows they’re going up (see graphs below):

No Caption Received


As you can see, home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year.

But here's what you need to know now. As of February, when the spring market kicked off, prices were on the rise again.

Home Prices Are Going Up in Most of America's Top Cities

After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in your area, too. While it depends on where you live, prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index (see chart below):

No Caption Received


Most experts also think home prices will keep rising and end the year on a high note. Forbes explains why:

“Even as mortgage rates have reached their highest level since November, persistent demand coupled with limited housing supply are key drivers pushing home values upward.”

How This Impacts You

  • For Buyers: If you’re ready, willing, and able to buy a home, purchasing before prices go up even more might be a smart choice, since home values are expected to keep climbing.
  • For Sellers: Prices are going up because there still aren’t enough homes available for sale right now compared to today’s buyer demand. So, if you work with an agent to price your house right, you might receive multiple offers and sell quickly. 
[created_at] => 2024-05-08T20:34:48Z [description] =>

Thinking about buying a home or selling your current one to find a better fit?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240508/20240513-Header-Image.png [id] => 51810 [kcm_ig_caption] => Thinking about buying a home or selling your current one to find a better fit? If so, you might be wondering what's going on with home prices these days. Here's the scoop. Home prices were rising for most of 2023. But over the course of December and January, they were virtually flat – which is pretty normal for that time of year. But here's what you need to know now. As of February, when the spring market kicked off, prices were on the rise again. Home Prices Are Going Up in Most of America's Top Cities After seeing a jump in home prices nationally in February, you might be wondering if they’re going up in your area, too. While it depends on where you live, prices are rising in 18 of the top 20 cities Case-Shiller reports on in the monthly price index. Most experts also think home prices will keep rising and end the year on a high note. Forbes explains why: “Even as mortgage rates have reached their highest level since November, persistent demand coupled with limited housing supply are key drivers pushing home values upward.” How This Impacts You • For Buyers: If you’re ready, willing, and able to buy a home, purchasing before prices go up even more might be a smart choice, since home values are expected to keep climbing. • For Sellers: Prices are going up because there still aren’t enough homes available for sale right now compared to today’s buyer demand. So, if you work with an agent to price your house right, you might receive multiple offers and sell quickly. The data shows home prices are increasing nationally. Let's chat to see exactly what’s going on with prices in our neighborhood. [kcm_ig_hashtags] => realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Home prices are climbing in these top cities. [public_bottom_line] =>

The data shows home prices are increasing nationally. Chat with a local real estate agent to see exactly what’s going on with prices in your neighborhood.

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Home Prices Are Climbing in These Top Cities

Thinking about buying a home or selling your current one to find a better fit?

22
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    [agents_bottom_line] => 

If you want to find out what builders are doing in our area, let’s connect and check it out together. And if you’re willing to cast a wider net to open up your options even more, we can talk about broadening your search to include other towns nearby.

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When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction.

A trusted real estate agent can help walk you through these two reasons you may want to reconsider that.

1. Adding Newly Built Homes Could Give You More Options

There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or is under construction. An existing home is one a previous homeowner has already lived in. Right now, the inventory of existing homes is tight. But there may be options for you on the new home side of things.

Data from the Census and the National Association of Realtors (NAR) shows that newly built homes are a bigger part of today’s housing inventory than the norm (see graph below):

No Caption Received


From 1983 to 2019 (the last normal year in the market), newly built homes made up only 13% of the total inventory of homes for sale. But today that number has climbed to over 33%.

Rest assured, after over a decade of underbuilding, builders aren’t overdoing it today. Even with an increase in new construction today, there’s still a significant housing shortage overall. But for you, the uptick in new builds can be a game changer because it gives you more options for your search.

2. Newly Built Homes May Be More Affordable Than You’d Think

You may still be wondering if a new build could really be an option for you. If you’ve previously written them off because you thought they would be out of your budget, consider this. The price gap between a newly built home and an existing house is shrinking. Here's why.

Builders are going to build what’s in demand. And they know people need more options right now, especially ones that are smaller and potentially more affordable. So, they’re focusing on building smaller homes at lower price points. The graph below shows the price difference between new and existing homes is shrinking as that happens:

 No Caption Received


As LendingTree explains:

In the past, newly built homes have been much more expensive than existing homes — but that gap has been getting smaller recently. In some places today, you may find that the cost to build versus buy is roughly the same.”

And an article from CNBC says:

“While new builds are still sold for slightly more than existing homes, the price gap has significantly narrowed . . .”

Not to mention, some builders are even offering price cuts and mortgage rate buy-downs right now to sweeten the deal. Today there are many reasons new builds may be worth considering. Other buyers sure seem to think so. As Freddie Mac says:

"As the supply of existing homes for sale remains low and home prices continue to rise, more buyers are choosing to purchase new homes than in previous years."

Just know that buying a newly built home isn’t the same as buying an existing one. Builder contracts have different fine print. So, partner with a local agent who knows the market, builder reputations, and what to look for in those contracts so you have an expert on your side to help you explore this option.

[created_at] => 2024-05-06T20:14:01Z [description] =>

When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240506/20240509-The-Top-2-Reasons-To-Consider-a-Newly-Built-Home.png [id] => 51561 [kcm_ig_caption] => When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction. 1. Adding Newly Built Homes Could Give You More Options There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or is under construction. An existing home is one a previous homeowner has already lived in. Right now, the inventory of existing homes is tight. But there may be options for you on the new home side of things. 2. Newly Built Homes May Be More Affordable Than You’d Think You may still be wondering if a new build could really be an option for you. If you’ve previously written them off because you thought they would be out of your budget, consider this. The price gap between a newly built home and an existing house is shrinking. Just know that buying a newly built home isn’t the same as buying an existing one. Builder contracts have different fine print. So, partner with a local agent who knows the market, builder reputations, and what to look for in those contracts so you have an expert on your side to help you explore this option. If you want to find out what builders are doing in our area, DM me and check it out together. And if you’re willing to cast a wider net to open up your options even more, we can talk about broadening your search to include other towns nearby. [kcm_ig_hashtags] => firsttimehomebuyer,starterhome,keepingcurrentmatters [kcm_ig_quote] => The top 2 reasons to consider a newly built home. [public_bottom_line] =>

If you want to find out what builders are doing in your area, connect with a real estate agent. And if you’re willing to cast a wider net to open up your options even more, that agent can talk to you about broadening your search to include other towns nearby.

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The Top 2 Reasons To Consider a Newly Built Home

When you’re planning a move, it’s normal to wonder where you’ll end up and what your future home is going to look like.

23
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Every time a home is sold, it really helps out the local economy. If you’re ready to move, let’s get in touch. It won’t just change your life—it’ll also do a lot of good for the whole community.

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If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too.

Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below):

No Caption Received


When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community:

“. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .”

It makes sense that housing creates a lot of jobs because so many different kinds of work are involved in the industry.

Think about all the people involved with selling a house—city officials, contractors, lawyers, real estate agents, specialists, etc. Everyone has a job to do to make your deal go through. So, each transaction is a big help to those who work and live in your community.

Put simply, when you buy or sell a home, you’re helping out your neighbors. So, when you decide to move, you're not just meeting your own needs—you're also doing something good for your community. Just knowing your move helps so many people around you can give you a sense of empowerment as you make your decision this year.

[created_at] => 2024-05-07T15:35:56Z [description] =>

If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240507/20240508-How-Buying-or-Selling-a-Home-Benefits-Your-Community.png [id] => 51638 [kcm_ig_caption] => If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too. When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community: “. . . housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year . . .” It makes sense that housing creates a lot of jobs because so many different kinds of work are involved in the industry. Think about all the people involved with selling a house—city officials, contractors, lawyers, real estate agents, specialists, etc. Everyone has a job to do to make your deal go through. So, each transaction is a big help to those who work and live in your community. Put simply, when you buy or sell a home, you’re helping out your neighbors. So, when you decide to move, you're not just meeting your own needs—you're also doing something good for your community. Just knowing your move helps so many people around you can give you a sense of empowerment as you make your decision this year. Every time a home is sold, it really helps out the local economy. If you’re ready to move, let’s get in touch. It won’t just change your life—it’ll also do a lot of good for the whole community. [kcm_ig_hashtags] => realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => How buying or selling a home benefits your community. [public_bottom_line] =>

Every time a home is sold, it really helps out the local economy. If you’re ready to move, get in touch with a local real estate agent. It won’t just change your life—it’ll also do a lot of good for the whole community.

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How Buying or Selling a Home Benefits Your Community

If you're thinking of buying or selling a house, it's important to know it doesn't just impact you—it helps out the local economy and your community, too.

24
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    [agents_bottom_line] => 

Real estate professionals have expertise on what’s working for other buyers like you. Lean on them for tips and advice along the way. As Directors Mortgage says, with that support you can make it happen:

 

The path to homeownership may not be a straightforward one for Gen Z, but it’s undoubtedly within reach. By adopting the right strategies, like exploring down payment assistance programs and sharing living costs with relatives, you can bring your dream of owning a home closer to reality.”

 

Let’s connect to get you set up for long-term success.

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If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you.

While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side.

Here are some helpful tips you may get from a pro.

1. Explore Your Options for a Down Payment

If a down payment is your #1 hurdle, you may have options to give your savings a boost. There are over 2,000 down payment assistance programs designed to make homeownership more achievable. And, that’s not the only place you may be able to get a helping hand. While it may not be an option for everyone, 49% of Gen Z homebuyers got money from loved ones that they used toward a down payment, according to LendingTree.

And chances are you won’t need to put 20% down (unless specified by your loan type or lender). So be sure to work with a trusted mortgage professional to explore your options, find out how much you’ll really need, and learn about any guidelines on getting a gift from loved ones.

2. Live with Loved Ones To Boost Your Savings

Another thing a number of Gen Z buyers are doing is ditching their rental and moving back in with friends or family. This can help cut down your housing costs so you can build your savings a whole lot faster. As Bankrate explains:

“. . . many have opted to stop renting and live with family in order to boost their savings. Thirty percent of Gen Z homebuyers move directly from their family member’s home to a home of their own, according to NAR.”

3. Cast a Broad Net for Your Search

When you’ve saved up enough, here’s how a pro will help you approach your search. Since the supply of homes for sale is still low and affordability is tight, they’ll give you strategies and avenues you may not have considered to open up your pool of options.

For example, it’s usually more affordable if you consider a rural or suburban area versus an urban one. So, while the city may be livelier and more energetic, the cost of living may be reason enough to look at something further out. And if you consider smaller homes and condos or townhouses, you’ll give yourself even more ways to break into the market. As Colby Stout, Research Analyst at Bright MLS, explains:

“Being flexible on the types of home (e.g., a condo or townhome versus a single-family home) and exploring more affordable neighborhoods is important for first-time buyers.”

4. Take a Close Look at Your Wants and Needs

And lastly, an agent can help you really think about your must-have’s and nice-to-have’s. Remember, your first home doesn’t have to be your forever home. You just need to get your foot in the door to start building equity. If you want to buy, you may find making some compromises is worth it. As Chase says:

“An open-minded approach to house-hunting may be one way for Gen Z homebuyers to maintain some edge. This could mean buying in areas that are less expensive. Differentiating needs vs. wants may help in this area as well.”

An agent will help you prioritize your list of home features and find houses that can deliver on the top ones. And they’ll be able to explain how equity can benefit you in the long run and make it possible to move into that dream home down the line.

[created_at] => 2024-05-03T14:26:52Z [description] =>

If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240503/20240507-Tips-for-Younger-Homebuyers-How-To-Make-Your-Dream-a-Reality.png [id] => 51379 [kcm_ig_caption] => If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hurdle, you may have options to give your savings a boost. There are over 2,000 down payment assistance programs designed to make homeownership more achievable. And chances are you won’t need to put 20% down (unless specified by your loan type or lender). 2. Live with Loved Ones To Boost Your Savings Another thing a number of Gen Z buyers are doing is ditching their rental and moving back in with friends or family. This can help cut down your housing costs so you can build your savings a whole lot faster. 3. Cast a Broad Net for Your Search When you’ve saved up enough, here’s how a pro will help you approach your search. Since the supply of homes for sale is still low and affordability is tight, they’ll give you strategies and avenues you may not have considered to open up your pool of options. 4. Take a Close Look at Your Wants and Needs And lastly, an agent can help you really think about your must-have’s and nice-to-have’s. Remember, your first home doesn’t have to be your forever home. You just need to get your foot in the door to start building equity. If you want to buy, you may find making some compromises is worth it. Real estate professionals have expertise on what’s working for other buyers like you. Lean on them for tips and advice along the way. Let’s connect to get you set up for long-term success. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,keepingcurrentmatters [kcm_ig_quote] => Tips for younger homebuyers: how to make your dream a reality. [public_bottom_line] =>

Real estate professionals have expertise on what’s working for other buyers like you. Lean on them for tips and advice on ways you can get ready to buy. As Directors Mortgage says, with that support you can make it happen:

 

The path to homeownership may not be a straightforward one for Gen Z, but it’s undoubtedly within reach. By adopting the right strategies, like exploring down payment assistance programs and sharing living costs with relatives, you can bring your dream of owning a home closer to reality.”
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Tips for Younger Homebuyers: How To Make Your Dream a Reality

If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home?

25
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If you're thinking about selling your house, there’s probably a good reason for it. Let’s talk so you have help making the right move to reach your goals this year.

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Thinking about selling your house? As you make your decision, consider what's pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons (see graphic below):

No Caption Received


Let's take a closer look and see if they’re motivating you to make a change too.

1. To Make a Profit

If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here's some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM, a property data provider, explains:

“. . . home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.”

That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed. There was way more buyer demand than homes available for sale and that combination pushed prices up.

Now, home prices are still rising, just not as fast. That ongoing appreciation is good news for your bottom line. Any profit you make can help offset some of today’s affordability challenges when you buy your next home.

If you want to know how much your house is worth now and what's going on with prices in your area, talk to a local real estate agent.

2. For Family Reasons

Maybe you want to be near relatives to help take care of older family members or to have more support nearby. Or maybe you’re just eager to spend time together on special occasions like birthdays and holidays.

Selling a house and moving closer to the people who matter the most to you helps keep you connected. If the distance is making you miss out on some big milestones in their lives, it might be time to talk to a local real estate agent to find a place close by. The National Association of Realtors (NAR) says:

“A great real estate agent will guide you through the home search with an unbiased eye, helping you meet your buying objectives while staying within your budget.”
[created_at] => 2024-05-02T17:17:30Z [description] =>

Thinking about selling your house?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240502/240506-What-s-Motivating-Your-Move.png [id] => 51269 [kcm_ig_caption] => Thinking about selling your house? As you make your decision, consider what's pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons. 1. To Make a Profit If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here's some good news – the latest data shows most sellers get a great return on their investment when they sell. That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed. There was way more buyer demand than homes available for sale and that combination pushed prices up. Now, home prices are still rising, just not as fast. That ongoing appreciation is good news for your bottom line. Any profit you make can help offset some of today’s affordability challenges when you buy your next home. 2. For Family Reasons Maybe you want to be near relatives to help take care of older family members or to have more support nearby. Or maybe you’re just eager to spend time together on special occasions like birthdays and holidays. Selling a house and moving closer to the people who matter the most to you helps keep you connected. If the distance is making you miss out on some big milestones in their lives, it might be time to talk to a local real estate agent to find a place close by. If you're thinking about selling your house, there’s probably a good reason for it. Let’s talk so you have help making the right move to reach your goals this year. [kcm_ig_hashtags] => sellyourhouse,realestatetips,keepingcurrentmatters [kcm_ig_quote] => What's motivating your move? [public_bottom_line] =>

If you're thinking about selling your house, there’s probably a good reason for it. Why not talk to a local real estate agent? They can help you make the right move to reach your goals this year.

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What's Motivating Your Move?

Thinking about selling your house?