The #1 Thing Sellers Need To Know About Their Asking Price

When you put your house on the market, you want to sell it quickly and for the best price possible; that’s generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.

According to data from Realtor.com, in February, price cuts were the highest they’ve been in any other February since 2019 (see graph below):

a graph of blue rectangles with numbers

If you consider that 2019 was the last true normal year for the housing market – that’s a big deal. We’re getting back to what’s typical for the market.

This isn’t the same frenzied seller’s market we saw a few years ago. You may not get the same price your neighbor did at the height of the pandemic. And that means you may need to reset your expectations.

Because here’s the reality. If you shoot too high and have to lower your price after the fact, you could actually end up walking away with lower offers than if you’d priced it right from the start. So, how do you avoid that? You lean on your agent.

How an Agent Helps You Nail the Right Price

A great agent doesn’t just pull a number out of thin air. They’ll use real data and market trends to make sure your house is priced based on what your specific home is valued at today. So, you’re setting a realistic price – one that’ll draw in serious buyers.

And based on your agent’s analysis of your local market, they may even recommend strategically pricing slightly below market value to help your house attract more eyes and more competitive offers. Here’s how your agent will determine the right number for your house:

  • They look at recent sales. What did similar homes in your area actually sell for? Not list for, sell for.
  • They analyze local market trends. Your home’s value isn’t just about what you want for it, it’s about what buyers in your area are willing to pay.
  • They craft the right strategy. They’ll make sure your home is priced to attract attention and create a sense of urgency among buyers.

Why Overpricing Backfires

Unfortunately, some sellers still ignore their agent’s advice and prefer to start high just to see what happens. The hope being maybe they get their full asking price, or they at least have more wiggle room for negotiation. But pricing high usually ends up costing you, and here’s why:

  • Buyers may not even look at it. Today’s buyers are more budget-conscious than ever. If they see a home that seems overpriced, they’re likely to skip it completely rather than try to negotiate.
  • It could sit on the market for too long. The longer your home sits unsold, the more buyers will assume something’s wrong with it. That can make it even harder to sell down the line.
  • You might end up getting less. Homes that require a price cut often sell for less than they would have if they had been priced right from the start.

You can see that shake out in the graph below. It uses data from the National Association of Realtors (NAR) to show that the longer a house sits, the less it’ll sell for:

a graph of blue rectangular objects


This graph shows that if a house sells within the first 4 weeks it is listed, it usually goes for full price. Based on experience, that’s what usually happens to homes that are priced at or just below current market value. If it’s priced right, buyers will be interested, and, ultimately, willing to pay the asking price – or compete with other buyers and even go over asking.

But if a house isn’t priced right, it doesn’t sell as quickly. And this graph shows that, after the first 4 weeks on the market, the price starts to drop from there. That’s because buyer interest falls off the longer it sits. So, it becomes more likely a seller will either accept a lower offer because that’s all they have, or opt to do a price drop to draw people back in.

Bottom Line

The last thing you want is to list too high, watch your house sit, and then have to drop the price just to get attention. Let’s connect so that doesn’t happen to you.

To see more about pricing strategy, read our article about Pricing Your Home in a Shifting Market.

Want to make sure your home sells quickly and for the best price? Let’s go over the right pricing strategy for your house.

The Secret to Pricing Your Home Right in a Shifting Market

Thinking about selling your home? One of the biggest decisions you’ll make is how to price it.

Set the price too high, and buyers might skip right over it. Price it too low, and you could leave money on the table. That’s why finding the right price—especially in a changing market—is so important.

The good news? You don’t have to figure it out alone. A great real estate agent knows how to price your home to help you sell quickly and get top dollar.

Why the Right Price Matters

The housing market is always changing. Buyer demand, interest rates, and inventory levels are always changing. And that’s exactly why working with a knowledgeable agent is essential to getting top dollar for your home without pricing yourself out of the market.

In a shifting market, buyers are careful. They compare prices, photos, and features before deciding which homes to see in person. If your home is priced just right, it will grab their attention and make them want to come take a look.

Our job is to help you hit that perfect price point—where your home stands out, gets noticed, and brings in strong offers.

How We Find the Right Price

When we help you price your home, we don’t guess. We analyze:

  • Recent sales of homes like yours in the area
  • What’s currently for sale (your competition)
  • How long homes are staying on the market
  • What buyers are looking for right now

Then we use all that info to recommend a smart price that gives you the best chance of a fast and successful sale.

Pricing + Marketing = More Offers

Here’s the truth: even the best price won’t work without the right marketing. That’s why we also create a full plan to get your home in front of serious buyers.

We use things like:

  • Professional photos
  • Eye-catching online listings
  • Targeted ads and social media
  • Open houses and private tours

When your home is priced well and marketed the right way, buyers take notice—and that can lead to more offers and a better sale.

Selling Your Home Doesn’t Have to Be Stressful

As real estate professionals, we’ve helped lots of sellers navigate this process. We know the local market, we understand what buyers want, and we know how to price and promote your home to help you get the best outcome.

If you’re thinking about selling, let’s connect. We’ll walk you through the process, give you a custom price analysis, and work with you every step of the way.

Want to know what your home could sell for right now? Contact us today for a free pricing consultation.

To learn the secrets of home pricing, read our article on The Four Factors Agents Use to Price Your Home Right.

The post The Secret to Pricing Your Home Right in a Shifting Market appeared first on Dakno Blog.

The Ultimate Guide to Prepping Your Home for a Quick Spring Sale

Spring is one of the best times to sell a home, as buyers emerge from winter ready to make a move. If you’re planning a spring sale this season, preparation is key to attracting the right buyers and securing a quick, competitive sale. Follow this guide to ensure your home is market-ready and stands out in the busy spring real estate market.

Organized home closet

1. Declutter and Depersonalize

Buyers want to envision themselves in your home, which can be difficult if personal items and clutter dominate the space. Start by:

  • Removing personal photographs and memorabilia
  • Clearing off countertops and shelves
  • Organizing closets and storage spaces to show off their full potential
  • Donating or storing unnecessary furniture to create an open, inviting feel

A clutter-free home appears larger and more inviting, making a lasting impression on potential buyers.

2. Deep Clean Every Inch

A sparkling clean home signals to buyers that the property has been well cared for. Pay special attention to:

  • Scrubbing floors, walls, and baseboards
  • Cleaning windows inside and out to maximize natural light
  • Refreshing kitchen and bathroom grout
  • Dusting ceiling fans, vents, and light fixtures
  • Eliminating pet odors and lingering smells

Consider hiring professional cleaners to ensure no detail is overlooked.

3. Boost Your Curb Appeal

First impressions matter, and the exterior of your home sets the tone for what’s inside. Improve curb appeal by:

  • Power washing the driveway, walkway, and siding
  • Refreshing mulch, trimming bushes, and adding seasonal flowers
  • Painting the front door for a fresh, inviting look
  • Cleaning or replacing old house numbers and mailbox
  • Ensuring outdoor lighting is functional and welcoming

A well-maintained exterior invites buyers in and builds anticipation for what’s inside.

4. Make Minor Repairs

Small fixes can make a big difference in how buyers perceive your home. Address minor repairs such as:

  • Fixing leaky faucets and running toilets
  • Patching up nail holes and repainting scuffed walls
  • Replacing burned-out light bulbs with warm, bright lighting
  • Repairing broken or squeaky doors and cabinets
  • Updating outdated hardware and fixtures

These minor updates create a polished, move-in-ready feel that buyers appreciate.

beautiful staged living room

5. Stage Your Home for Maximum Appeal

Staging helps buyers visualize the potential of each space. Key staging tips include:

  • Arranging furniture to create flow and highlight focal points
  • Using neutral decor and light, airy colors to make rooms feel bigger
  • Adding fresh flowers or bowls of fruit for a welcoming touch
  • Setting the dining table to evoke a cozy, inviting atmosphere
  • Highlighting unique features like fireplaces, built-ins, or large windows

Professional staging can be a worthwhile investment for maximizing your home’s appeal.

6. Optimize Your Home’s Lighting

Bright, well-lit homes feel warm and inviting. Enhance your lighting by:

  • Opening curtains and blinds to let in natural light
  • Using mirrors to reflect light and make spaces feel larger
  • Adding table and floor lamps to brighten dark corners
  • Swapping outdated light fixtures for modern, energy-efficient options

The right lighting can make your home feel open and welcoming, encouraging buyers to explore every room.

7. Highlight Your Home with High-Quality Photos

Most buyers start their search online, so high-quality listing photos are essential. Before your home is photographed:

  • Ensure all rooms are clean and staged
  • Remove unnecessary items from kitchen and bathroom counters
  • Turn on all lights and open blinds for maximum brightness
  • Capture each room from the best angle to showcase space

Consider hiring a professional photographer to make your listing stand out in a competitive market.

8. Work with a Real Estate Agent

A knowledgeable real estate agent can make the selling process smoother and more successful. They provide:

  • Expert pricing strategies to attract serious buyers
  • Marketing expertise to showcase your home to the right audience
  • Negotiation skills to help you get the best offer
  • Guidance on what improvements will yield the highest return

Our team has the local expertise, industry knowledge, and dedication to help you achieve the best possible outcome. When you work with us, you’re not just hiring an agent—you’re gaining a trusted partner in your home-selling journey. Let us handle the details so you can focus on what comes next. Partnering with the right agent ensures your home is well-positioned for a fast, successful sale.

older couple working with a real estate agent

Ready for a Spring sale?

With the spring market heating up, now is the perfect time to prepare your home for a quick and profitable sale. By decluttering, cleaning, staging, and working with an experienced real estate professional, you can attract buyers and maximize your home’s value.

We’re here to guide you every step of the way, from strategic pricing to expert marketing and negotiation. Don’t navigate the selling process alone—reach out today and let’s get your home sold quickly and for top dollar!

If you’re thinking about selling, reach out to a local real estate agent today to start the process and make the most of this exciting season!

For more information on how to make the most of your home, see our post on How to Sell in Spring.

The post The Ultimate Guide to Prepping Your Home for a Quick Spring Sale appeared first on Dakno Blog.

Selling This Spring?

Spring is the season of new beginnings, and for homeowners, it’s also the hottest time to sell. If you’re considering listing your home, partnering with an experienced real estate agent is the key to maximizing your profit and minimizing stress. Here’s why working with the right agent this spring is your smartest move.

home interior living room spring

1. The Spring Market Advantage – Timing Matters

Spring has long been the best season to sell, thanks to increased buyer demand, longer daylight hours, and homes looking their best. According to real estate trends, inventory tends to rise in the spring, but so does competition among buyers eager to move before summer.

A skilled agent understands market fluctuations and can help you list your home at the optimal time for maximum exposure. They’ll analyze local market conditions—such as inventory levels, buyer demand, and interest rates—to ensure you hit the market when buyers are most active.

2. Pricing Right From the Start – Avoid Costly Mistakes

Setting the right price is crucial. Overpricing can lead to a stagnant listing, while underpricing leaves money on the table. A professional agent will conduct a comparative market analysis (CMA) to determine a competitive price that attracts serious buyers while maximizing your return.

Data shows that homes priced correctly from the start sell faster and often receive multiple offers. In fact, homes that undergo a price reduction sit on the market twice as long as those priced correctly at listing. Your agent’s expertise ensures you avoid these costly missteps.

real estate negotiation, shaking hands

3. Preparing Your Home – Where to Invest and Where to Save

Not all home improvements are created equal. An agent can guide you on which updates will deliver the biggest return on investment and which aren’t worth the expense.

Here’s a checklist of high-impact, budget-friendly improvements:

  • Deep clean and declutter every space
  •  Boost curb appeal with fresh mulch, trimmed bushes, and a power-washed walkway
  • Apply a fresh coat of neutral paint to walls
  • Stage key rooms to highlight functionality and space
  • Upgrade lighting for a warm, inviting atmosphere

An experienced agent helps you focus on what truly matters, so you don’t waste money on unnecessary renovations.

4. The Power of Professional Marketing & Negotiation

Today’s buyers start their home search online, which means high-quality photos, targeted advertising, and strategic marketing are non-negotiable. A top agent will ensure your home gets in front of the right buyers through:

  • Professional photography and videography to showcase your home in its best light
  • Targeted online advertising to reach the most qualified buyers
  • Social media and email marketing to maximize visibility

Beyond marketing, negotiation is where a seasoned agent shines. They advocate for your best interests, ensuring you get the best possible price and terms while navigating multiple offers with skill and strategy.

photographing living room

5. Navigating the Selling Process – A Stress-Free Experience

Selling a home involves managing showings, buyer inquiries, offers, inspections, and legal documents. We take on these responsibilities, so you don’t have to. We’ll handle the complexities, preventing potential legal and financial pitfalls.

Get Ahead of the Competition – Work with the Best Agents for the Job

If you’re thinking of selling this spring, now is the time to start. As experienced agents, we have the expertise, marketing strategies, and negotiation skills to ensure your home sells quickly and for top dollar.

Reach out today for a free home value consultation or a personalized spring selling strategy session. Let’s make your home sale smooth, successful, and stress-free!

The post Selling This Spring? Why Partnering with the Right Agent is Your Best Move appeared first on Dakno Blog.

Ready to list and looking for tips on how to boost the attractiveness of your home? Read our article for advice on how to maximize the curb appeal of your home!

11,000 Homes Will Sell Today – Will Yours Be One of Them?

Are you hesitant to sell your house because you’re worried no one’s buying with rates and prices where they are right now? Here’s some perspective that can help.

The market actually isn’t at a standstill. While there weren’t as many sales last year as there’d be in a normal market, roughly 4.15 million homes still sold (not including new construction), according to the National Association of Realtors (NAR). And the expectation is that number will rise in 2025. That means more people will likely move this year, and they need homes to buy. Homes like yours.

But even if we only match last year’s sales pace, here’s what that looks like.

Every Minute Homes Are Selling – Literally

  • 4.15 million homes ÷ 365 days in a year = 11,370 homes sell each day
  • 11,370 homes ÷ 24 hours in a day = 474 homes sell per hour
  • 474 homes ÷ 60 minutes = roughly 8 homes sell every minute

Think about that. Just in the time it took you to read this, 8 homes sold.

If you’ve been holding off on selling your house because you think buyers aren’t out there, let this reassure you – there are still buyers looking to buy.

Every day, thousands of people need to buy homes. So, while higher home prices and mortgage rates have slowed the market down and forced some buyers onto the sidelines, that doesn’t mean the market isn’t active. Many buyers are still eager to make a move because life doesn’t wait for perfect market conditions.

With the right agent by your side, you can get your house in front of those buyers while other hesitant homeowners are still putting their plans on pause because they’re worried buyer demand has disappeared. Let’s get your house sold.

Bottom Line

On average, over 11,000 homes sell every day, and yours could be one of them. In the time it took you to read this, another 8 homes sold.

When you’re ready to take the next step, let’s connect so you have an agent to create that perfect strategy. Call us at (918) 665-8559 or contact us on our website.

In the meantime, check out our post on the Best Timeline to Sell Your Home.

Setting Your Real Estate Goals for 2025

As the calendar turns to a fresh year, many of us start thinking about our real estate goals and dreams for the months ahead. Whether you’re planning to buy your first home, sell your current house, or simply explore your options, setting clear real estate goals for 2025 is a fantastic way to start the year on the right foot. And guess what? You don’t have to do it alone!

We’re not just here for you when you’re ready to make a move—we’re here to help you prepare, strategize, and feel confident about your real estate decisions every step of the way. Let’s dive into how you can set achievable real estate goals for the year and how we can support you.

1. Reflect on Your Real Estate Dreams

Take a moment to think about what’s important to you when it comes to your home. Are you dreaming of upgrading to a larger space? Downsizing now that the kids have moved out? Moving closer to work or family? Or perhaps you’re curious about what your home could sell for in today’s market. Whatever your goals, it’s helpful to write them down. Even if they feel a little far off, having a clear vision can help guide the steps you take this year.

2. Start the Conversation Early

You don’t need to wait until you’re ready to buy or sell to talk to a real estate agent. In fact, the earlier you reach out, the better! By starting the conversation now, we can help you:

  • Understand current market conditions.
  • Answer any questions about the buying or selling process.
  • Discuss potential timelines that align with your personal goals.
  • Identify key steps to prepare your home or finances.

Whether you’re thinking of making a move in six months or a year, having a game plan in place will make the process much smoother when the time comes.

3. Get to Know the Market

The real estate market is always evolving, and it’s important to stay informed. We’re here to provide insights into what’s happening locally, from current home prices to trends in demand. For buyers, this can mean understanding how to position yourself in a competitive market. For sellers, it’s about knowing when the time is right to list your home.

4. Plan Ahead for Financial Success

Your financial readiness plays a big role in achieving your real estate goals. If you’re buying, now is a great time to evaluate your credit score, save for a down payment, and explore loan options. If you’re selling, we can discuss how to maximize your home’s value through strategic improvements. By taking proactive steps, you’ll set yourself up for success when you’re ready to move forward.

5. Ask Questions—Lots of Them!

Curious about what’s happening in your neighborhood? Not sure if it’s the right time to refinance? Wondering what a home inspection entails? No question is too big or small! We’re here to provide answers, guidance, and peace of mind so you can feel empowered in your real estate journey.

Let’s Make 2025 Your Year!

Whether your real estate goals are crystal clear or just starting to take shape, we’re here to help you turn them into reality. Reach out to us today to schedule a no-pressure chat. We’ll listen to your ideas, share insights, and help you create a plan that works for your unique situation.

Remember, achieving your real estate goals isn’t just about where you’re going—it’s about having the right team to guide you there. Let’s make 2025 a year of exciting opportunities and big wins in real estate!

The post Setting Your Real Estate Goals for 2025: Let’s Make a Plan Together! appeared first on Dakno Blog.

Real Estate During the Holidays

Key Facts:

  • The holiday real estate market offers unique advantages for both buyers and sellers.
  • Strategic planning can help you navigate the season’s challenges and opportunities.
  • Flexible schedules, festive staging, and smart negotiation tactics are key to success.

The holiday season may not seem like the ideal time to dive into the real estate market, but it actually offers unique opportunities for both buyers and sellers. With a bit of strategic planning and the right mindset, you can make the most of this festive time to achieve your real estate goals. Let’s take a closer look at what makes real estate during the holidays special and how you can navigate it successfully.

Mantle with holiday decor and stockings

Why the Holiday Market Works for Buyers and Sellers

For buyers, the holidays can mean less competition and motivated sellers. Fewer people are actively house-hunting this time of year, which often translates to a quieter market and the chance to avoid bidding wars. Plus, sellers who list their homes during the holidays are often eager to close quickly, making it an excellent time to negotiate favorable terms.

Sellers, on the other hand, can benefit from a more serious pool of buyers. Those looking for homes in December tend to be motivated and ready to act, which is great news if you’re aiming for a smooth, quick sale. Additionally, with fewer homes on the market, your property has a better chance of standing out. And let’s not forget the added charm of a well-decorated, festive home—it’s hard to resist a cozy space with twinkling lights and a warm ambiance.

Holiday wreath on front door

Tips for Sellers: Stand Out This Holiday Season

If you’re selling during the holidays, a little extra effort can go a long way. Start by staging your home to highlight its best features while keeping holiday décor subtle and tasteful. A wreath on the door or a few sparkling lights can add warmth without overwhelming potential buyers.

Since daylight hours are shorter, ensure your home is well-lit for showings. Bright spaces feel more inviting, so turn on lamps and add some soft, warm lighting where needed. Flexibility is also key—buyers’ schedules can be hectic this time of year, so accommodating their availability can help seal the deal.

Couple on laptop exploring the holiday real estate market

Advice for Buyers: Be Prepared to Move Quickly

On the buying side, timing is everything. With fewer listings available, when you find the right home, you’ll need to act fast. Being pre-approved for a mortgage and having a solid offer ready can make all the difference.

Negotiation can also work in your favor during the holidays. Sellers may be more willing to negotiate on price or closing terms to finalize a deal before year-end. Stay flexible and proactive, and you could find yourself with a fantastic deal before the new year.

Home foyer with holiday wreath and table with Christmas decor

Embrace the Holiday Market

Navigating the real estate market during the holidays doesn’t have to be stressful. With thoughtful planning and a clear strategy, you can make the most of this unique time of year. Whether you’re buying your dream home or preparing to list your current property, the holiday season might just be the perfect time to make your move.

Thinking about buying or selling this holiday season? Reach out to us today—we’d love to help you take the next step toward your real estate goals.

The post Navigating the Real Estate Market During the Holidays appeared first on Dakno Blog.

Interested in learning more about listing during the holiday season? See our post on Holiday Home Selling!

Should You Sell Your House As-Is or Make Repairs?

recent study from the National Association of Realtors (NAR) shows most sellers (61%) completed at least minor repairs when selling their house. But sometimes life gets in the way and that’s just not possible. Maybe that’s why, 39% of sellers chose to sell as-is instead (see chart below):

If you’re feeling stressed because you don’t have the time, budget, or resources to tackle any repairs or updates, you may be tempted to sell your house as-is, too. But before you decide to go this route, here’s what you need to know.

What Does Selling As-Is Really Mean?

Selling as-is means you won’t make any repairs before the sale, and you won’t negotiate fixes after a buyer’s inspection. And this sends a signal to potential buyers that what they see is what they get.

If you’re eager to sell but money or time is tight, this can be a relief because it’s that much less you’ll have to worry about. But there are a few trade-offs you’ll have to be willing to make. This visual breaks down some of the pros and cons:

Typically, a home that’s updated sells for more because buyers are often willing to pay a premium for something that’s move-in ready. That’s why you may find not as many buyers will look at your house if you sell it in its current condition. And less interest from buyers could mean fewer offers, taking longer to sell, and ultimately, a lower price. Basically, while it’s easier for you, the final sale price might be less than you’d get if you invested in repairs and upgrades.

That doesn’t mean your house won’t sell – it just means it may not sell for as much as it would in top condition.

Here’s the good news though. In today’s market, as many as 56% of buyers surveyed would be willing to buy a home that needs some work. That’s because affordability is still a challenge, and while there are more homes for sale right now, inventory is lower than the norm. So, you might find there are a few more buyers who may be willing to take on the work themselves.

How an Agent Can Help

So, how do you make sure you’re making the right decision for your move? The key is working with a pro.

good agent will help you weigh your options by showing you what comparable homes in your area have sold for, what updates your neighbors are making, and guide you in setting a fair price no matter what you decide. That helps you anticipate what your house may sell for either way – and that can be a key factor in your final decision.

Once you’ve picked whether you will sell your house as-is or not and the asking price is set, your agent will market your house to maximize its appeal. And if you decide to sell as-is, they’ll call attention to the best features, like the location, size, and more, so it’s easy for buyers to see the potential, not just projects.

Bottom Line

Selling a home without making any repairs is possible in today’s market, but it does have some trade-offs. To make sure you’re considering all your options and making the best choice possible, let’s have a conversation.

Reach out to us here or call us: (918) 665-8559

Read our earlier post about which renovations will increase the value of your home.

What To Look For From This Week’s Fed Meeting

You may be hearing a lot of talk about the Federal Reserve (the Fed) and how their actions will impact the housing market right now. Here’s why.

The Fed meets again this week to decide the next step with the Federal Funds Rate. That’s how much it costs banks to borrow from each other. Now, that’s not the same thing as setting mortgage rates, but mortgage rates can be influenced through this process. And if you’re thinking about buying or selling a home, you may be wondering about the downstream impact and when mortgage rates will come down.

Here’s a quick rundown of what you need to know to help you anticipate what’ll happen next. The Fed’s decisions are guided by these three key economic indicators:

  1. The Direction of Inflation
  2. How Many Jobs the Economy Is Adding
  3. The Unemployment Rate

Let’s take a look at each one.

1. The Direction of Inflation

You’ve likely noticed prices for everyday goods and services seem to be higher each time you make a purchase at the store. That’s because of inflation – and the Fed wants to see that number come back down so it’s closer to their 2% target.

Right now, it’s still higher than that. But despite a little volatility, inflation has generally been moving in the right direction. It gradually came down over the past two years, and is holding fairly steady right now (see graph below):

The path of inflation – though still not at their target rate – is a big part of the reason why the Fed will likely lower the Fed Funds Rate again this week to make borrowing less expensive, while still ensuring the economy continues to grow.

2. How Many Jobs the Economy Is Adding

The Fed is also keeping an eye on how many new jobs are added to the economy each month. They want job growth to slow down a bit before they cut the Federal Funds Rate further. When fewer jobs are created, it shows the economy is still doing well, but gradually cooling off—exactly what they’re aiming for. And that’s what’s happening right now. Reuters says:

“Any doubts the Federal Reserve will go ahead with an interest-rate cut . . . fell away on Friday after a government report showed U.S. employers added fewer workers in October than in any month since December 2020.”

Employers are still hiring, but just not as many positions right now. This shows the job market is starting to slow down after running hot for a while, which is what the Fed wants to see.

3. The Unemployment Rate

The unemployment rate shows the percentage of people who want jobs but can’t find them. A low unemployment rate means most people are working, which is great. However, it can push inflation higher because more people working means more spending—and that makes prices go up.

Many economists consider any unemployment rate below 5% to be as close to full employment as is realistically possible. In the most recent report, unemployment is sitting at 4.1% (see graph below):

Unemployment this low shows the labor market is still strong even as fewer jobs were added to the economy. That’s the balance the Fed is looking for.

What Does This Mean Going Forward?

Overall, the economy is headed in the direction the Fed wants to see – and that’s why experts say they will likely cut the Federal Funds Rate by a quarter of a percentage point this week, according to the CME FedWatch Tool.

If that expectation ends up being correct, that could pave the way for mortgage rates to come down too. But that doesn’t mean they’ll fall immediately. It will take some time. Remember, the Fed doesn’t determine mortgage rates. Forecasts show mortgage rates will ease more gradually over the course of the next year as long as these economic indicators continue to move in the right direction and the Fed can continue their Federal Funds rate cuts through 2025.

But a change in any one of the factors mentioned here could cause a shift in the market and in the Fed’s actions in the days and months ahead. So, brace for some volatility, and for mortgage rates to respond along the way. As Ralph McLaughlin, Senior Economist at Realtor.com, notes:

“The trajectory of rates over the coming months will be largely dependent on three key factors: (1) the performance of the labor market, (2) the outcome of the presidential election, and (3) any possible reemergence of inflationary pressure. While volatility has been the theme of mortgage rates over the past several months, we expect stability to reemerge towards the end of November and into early December.”

Bottom Line

While the Fed’s actions play a part, economic data and market conditions are what really drive mortgage rates. As we move through the rest of 2024 and 2025, expect rates to stabilize or decline gradually, offering more certainty in what has been a volatile market. 

See more in our post about the impact of Falling Mortgage Rates

Features Today’s Homebuyers Are Looking For

In today’s ever-changing real estate market, understanding what features homebuyers are looking for can significantly impact the sale of your property.

Key Facts:

  • Home offices are a top priority for buyers needing productive, quiet workspaces.
  • Energy-efficient appliances attract eco-conscious buyers with cost and environmental benefits.
  • Outdoor spaces, from gardens to balconies, are valued for their versatility.

Whether you’re a seller aiming to make your home more attractive or a buyer searching for your dream home, knowing these key features can guide your decisions. Let’s explore the top home features that are currently in demand.

Home feature: stylish home office

Home Offices

Having a dedicated home office space is highly desirable. Buyers are looking for homes that offer a quiet, organized area that enhances productivity. If you’re selling, consider staging a room or a nook as a home office to appeal to this growing need. Think about incorporating built-in shelves, adequate lighting, and technology-friendly setups to make the space truly functional and appealing.

Closeup of a smart thermostat with happy family on couch

Eco-Friendly Appliances

Homebuyers are increasingly looking for homes equipped with eco-friendly appliances that help reduce utility bills. Sellers should highlight features like solar panels or high-efficiency washers and dryers in their listings. Discussing the long-term cost benefits and the environmental impact of these upgrades can make your listing stand out.

Home patio with wicker furniture

Outdoor Living Spaces

Outdoor living spaces are highly prized. These can range from expansive backyards with room for gardening to cozy balconies with space for a small table and chairs. These features offer a private escape or an additional entertaining space, making them appealing to many buyers. Enhance these spaces with outdoor kitchens, fire pits, or comfortable seating areas to increase attractiveness.

Home feature: modern white kitchen with updated appliances

Modern Kitchens and Bathrooms

Today’s homebuyers are also focusing on modern, well-equipped kitchens and bathrooms. A kitchen with updated appliances, ample storage, and stylish countertops can be a major selling point. Similarly, bathrooms with modern fixtures, good lighting, and efficient layouts are highly sought after. Consider including photos of these spaces with descriptions of recent updates in your listings.

Close up of home alarm system with kitchen in background

Smart Home Technology

Integration of smart home technology is another feature that’s becoming increasingly popular. Systems for controlling lighting, temperature, security, and even blinds remotely are convenient and cost-effective. Highlighting these features in your listing can attract tech-savvy buyers looking for modern conveniences.

Dining room doubling as a home office

Multipurpose Spaces

With the changing dynamics of home use, areas that can serve multiple purposes—like a basement that doubles as a media room, a garage that can be a workshop or a dining room that can also host business meetings—are extremely valuable. Highlighting a property’s versatility can appeal to a broader range of buyers.

Living room and kitchen with open floorplan

Moving Forward with Confidence

Understanding what buyers are looking for helps sellers showcase their homes effectively and assists buyers in identifying their must-have features. If you’re ready to buy or sell or need advice on how to highlight these desirable features in your home, don’t hesitate to contact us. Our expertise ensures you can confidently navigate the market, whether upgrading to a newer home or finding one that meets all your modern living needs.

The post Features Today’s Homebuyers Are Looking For appeared first on Dakno Blog.

Read more in our blog entry on the Most Popular Features in Multimillion Dollar Properties.