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Why the Holidays Are an Excellent Time to Sell Your House

Key Takeaways:

  • Less competition and holiday decor make your home stand out.
  • Serious buyers and fast closings make for a merry sale.
  • With the year coming to a close, contact us today to get started!

Believe it or not, the holidays are a wonderful time to sell your home! People are in warm spirits, and there is typically less competition from other sellers during the holidays, so your house is more likely to stand out. So if you’re considering selling your house, the holidays may be the perfect time to do it!

Holiday cheer extends to homebuyers

Home with a bow in front of a holiday tree.

During the holidays, people are out shopping—for homes! Yes, homebuyers take advantage of the festive atmosphere to research options and kickstart their house-hunting journey. With offers of holiday cheer in the air, many buyers feel more confident taking the plunge and seriously making offers on potential homes. Beyond being a season of merriment, the holidays have become a time for serious house hunters to jump into the market.

With less competition, your home shines bright

House in winter with a sold sign.

During the holidays, sellers can enjoy a unique advantage over their competition. With fewer houses listed on the market, those for sale tend to see busy open houses bustling with would-be buyers. That’s why when you list your home during the holiday season, your house has a better chance of standing out to potential buyers and moving off the market as quickly as possible.

Offers made during the holidays are serious

Buyers purchasing a home.

Buyers during this time of year tend to be more serious about making an offer, so you’re more likely to get an offer – and close the deal! By taking advantage of the housing market at this time of year, you’re capturing demand during the seasonal rush. The holidays could be the perfect opportunity to sell your home quickly and for top dollar.

Holiday decorations are perfect for staging your home

A beautiful winter living room.

Decorating for the holidays can give your house that extra bit of charm and make it more appealing to potential buyers. Decorating with subtlety is key: hanging up bold red and green decorations or festively-themed banners might be a little too much for some viewers. Instead, go for tasteful touches like wreaths, string lights, and pine garlands in doorways and window ledges to bring alive the holiday spirit while not overwhelming buyers. This way, you’ll create an inviting atmosphere in your home that will make it stand out from competitors in the market.

Get the Gift You Want

The holidays are the perfect time to sell your home and get top dollar. With less competition and serious buyers, plus some cheer thrown in for good measure, now is the time to move quickly. Selling during the holidays can be a great way to start the new year in your new home. Our experienced real estate team can help, so contact us today to get started!

Read our article about selling in other seasons, as well.

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Why Now Is a Good Time to Enter the Housing Market

Key Takeaways:

  • Low default rates are a positive sign of the housing market’s resiliency
  • There are signals that the market is shifting to favor homebuyers
  • Our team is ready to help you achieve your goals, so contact us today!

As with any investment, the best time to enter the housing market is when prices are low. It’s no different when it comes to real estate. With one historic and unprecedented event after another these days, knowing when to move in today’s market can be complicated and intimidating, but it doesn’t need to be.

Analysts agree about where the market is likely headed. So as 2022 winds down, let’s review the latest news to help you better understand where your opportunity lies (and why now may actually be the best time to buy!).

Low loan defaults are keeping the housing market healthy

Portrait Of Happy Family Showing Key, Standing In Living Room.

The current housing market is not a repeat of the previous financial crisis in 2008. The two primary factors that contributed to the housing market crash back then were cheap credit and lax lending standards. Remember the terms subprime, mortgage-backed securities, CDOs, and adjustable rate mortgage? Thankfully, that’s not what’s making headlines this time around.

Today, lending standards are more strict than they were 15 years ago, and because of this, most homeowners are not teetering on loan default like they were back in 2008. In response to the global COVID-19 pandemic, banks introduced various programs to help homeowners stay current on their mortgages and avoid default. The result is historic mortgage balance lows, with loans that are 90 days past due pegged at just 0.5%. That’s a far cry from the staggering 11.36% rate back in 2010 when homeowners struggled to make payments.

Economic signals indicate this is becoming a buyer’s market

real estate agent Delivering sample homes to customers, mortgage loan contracts. Make a contract for hire purchase and sale of a house. and home insurance contracts, home mortgage loan concepts

Putting today’s housing market in proper historical context is paramount to making an informed decision. While the current 7% mortgage interest rates are certainly higher than the pandemic-induced low of 2.65% in December 2020 (the lowest in history!), that doesn’t mean you should avoid buying a home. Compared to the all-time high of 18.45% set back in 1981, today’s average rate of 7% is suddenly far less imposing.

Experts all agree: home equities are going to decline. The only dispute between analysts is by how much, with some analysts projecting an average decline of about 20%. According to Black Knight, a mortgage technology and data provider, home prices have declined slightly, but mortgage holders possess $11.5 trillion in tappable equity.

Even though recent news and numbers seem to suggest that the real estate market may be experiencing a slowdown, Black Knight added that the “market is on strong footing to weather a correction” given that the total market leverage (including both first and second liens) was just 42% of mortgaged homes’ values – the lowest number on record.

Homes are always a solid investment strategy

Beautiful, Newly Built Luxury Home Exterior

Eager would-be homebuyers waiting for home prices to enter the housing market to fall have some good news ahead of them. But, homeowners have good news, too. While there’s plenty of panic around a “decline” in home prices, the Case-Shiller Index reports it’s just 2.2%—meaning homeowners are still in command of a 38.33% increase in the last two years.

With mortgage interest rates hovering around 7% and home values stabilizing, the tail-end of 2022 or 2023 may be the best time for you to finally make that move, especially as two-thirds of major regional housing markets (98 out of 148) prices continue to drop.

We’ll Help You Buy For the Right Price

When you’re ready to make your move, reach out and contact our trusted real estate team. We know the local housing market and can help guide you to the best deals available on the market today. And, there’s plenty of ways to extend your buying power and reduce your interest rates! Our team can’t wait to share our proven strategies with you, so contact us today!

Entering the market as a first-time buyer.

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What’s Happening in Your Local Housing Market?

Key Takeaways:

  • Today’s market conditions are unique, and there’s plenty of ways to win
  • Let’s explore the steps you can take to pave your path to homeownership
  • Our team is ready to help you achieve your goals, so contact us today!

Amid high inflation, increasing mortgage rates, and limited housing inventory, the headlines make it seem like there’s no good news in the real estate market. But when you listen closely to expert economists and look at your local market, you’ll learn that there’s plenty of opportunity. Let’s take a closer look to understand the complete picture of what’s really going on in the housing market.

Low inventory keeps home prices high

Magnifying glass in front of an open newspaper with paper houses.

It’s easy to hear snippets of today’s news cycle and get swept up into a maelstrom of doom and gloom. You don’t need to fear that the Great Recession of 2008 is happening all over again.  Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), gave a talk this month in Orlando. Mr. Yun pointed out why the housing market will remain stable and profitable.

One of the leading factors behind his assertion is that “housing inventory is about a quarter of what it was in 2008.” The historic low inventory of available housing in the US is a positive. That limited inventory will prevent large price drops for most of the country. Mr. Yun went on to say that “distressed property sales are almost non-existent, at just 2%, and nowhere near the 30% mark seen during the housing crash (of 2008). Moreover, short sales are almost impossible because of the significant price appreciation of the last two years.”

The national housing market is not your local market

Gainesville, Florida, USA downtown cityscape at twilight.

The national news won’t give you an accurate snapshot of what’s happening in your area. It’s a collection of data that makes for wonderful headlines but has little to do with what you need to know to buy or sell a home. It’s our job to dive deep into the microdata and help guide our clients to making smart moves.

Despite inventory remaining limited nationally, there are still housing markets with increases in available units. This is true especially for starter homes, making this a wonderful time to buy. Other pockets are holding onto a seller’s market, with prices staying steady. It’s always best to speak to your trusted agent to know what’s happening in the area where you live or want to move. And, with rental prices continuing to rise as well, it’s never a bad time to consider purchasing a home.

How to start planning your next move

Full length body size view of four cheery people dad mom small little kids brother sister carrying cardboard boxes moving new residence cottage town.

As a homeowner or prospective homebuyer, there are always ways you can stay ahead of the market. No one purchases a home overnight, so give yourself plenty of time and take smart steps to ensure success when the time is right.

First, contact us today to find the latest, up-to-the-minute value of your home, backed by local data. This will give you accurate insights into the value of your home and what your best move may be. From there, you’ll be able to make data-backed decisions about whether you should remodel, list your home, what kind of return you can expect, and more.

If you’re looking to buy, contact us to learn more about our market and how much inventory is available. Stay flexible, and consider different styles of homes, from townhouses and condos to older homes ready for some modern upgrades. Or, maybe a new construction home is right for you, with special financing and other incentives offered by the builders.

You Can Win Your Local Housing Market

Ultimately, real estate is always local! The best thing you can do before making a move in today’s real estate market is to contact your local real estate agent. As your local, trusted real estate professionals, we know what’s happening and are your best resource for determining your next best step. So contact us today!

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Top 5 Tips for Home Buying in Today’s Market

Key Takeaways:

  • There’s plenty of strategies to successfully buy in today’s market.
  • Lean in on the expertise of your local real estate—we’ve seen it all!
  • Our team is ready to help you achieve your goals, so contact us today.

Whether you’re shopping for your first home or relocating to a new area, purchasing a home in today’s real estate market can be daunting. However, the good news is that today’s housing market can actually be helpful if you’re a prospective homebuyer who knows how to play the game well. When it comes to making a winning offer on your dream home, you must know certain particulars of the homebuying process to be successful.

So, let’s look at the top five tips that will help to play the real estate game more effectively and pave your path to home ownership.

1. Determine and know your budget

Woman looking over finances to buy a home

Before you begin the house-hunting process and start picking your paint colors, potential homebuyers should receive pre-approval. Ideally, get approved by one or more lenders to verify the amount of money you are qualified to borrow. Being pre-approved tells sellers you’re serious about buying and have the means to do so. It also helps narrow your search by allowing you to determine which neighborhoods are within your budget.

Remember to consider the additional costs of homeownership, such as taxes, utilities, maintenance, and insurance. Finally, be realistic about how much you can comfortably afford in today’s tight real estate market. Availability is at historic lows . Rising mortgage rates mean you’ll have to be able to move quickly when the right home presents itself. That means having your finances ready to go.

2. Distinguish between your wants and your needs

Smiling Family Carrying Boxes Into New Home On Moving Day

To play the real estate game well, you need to know what it is, specifically, that you want from a home. Certain wants, such as stainless steel appliances, new cabinets, or hardwood floors, can always be obtained later. Therefore they shouldn’t be deal-breakers.

However, if you want to be in a specific school district, need to live close to work, or have a decent-sized backyard to try your hand at homesteading, those cannot be addressed later and must factor in throughout the house-hunting process. As you contemplate a purchase, consider your other financial goals as well. It can be easy to get swept up in the frenzy of a tight housing market, so it’s essential to keep your financial goals top of mind during this process.

3. Be Prepared to Act Quickly in Today’s Market

Couple buying home from real estate agent.

A well-priced property in good condition in a good neighborhood with plenty of nearby amenities will always draw many interested buyers during the first few days of being on the market. In a tight seller’s market like today, such homes rarely stay on the market for very long.

So, when you find the right home that fits your budget and satisfies your wants and needs, you’ll want to sign an offer immediately and get it presented. Serious buyers should always be ready to submit an offer quickly, or they may risk missing out on the property altogether.

4. Bid competitively and stay flexible

Real estate agent holding house key to his client after signing contract.

Prepare to bid competitively to make your offer stand out, but remain pragmatic and know your limits. It may be tempting to submit a low offer as a starting bid, but in a tight seller’s market, buyers must put forward their highest offer from the very beginning to avoid losing out on the home. In multiple bidding situations, the highest offer is only sometimes accepted by the seller. In many instances, buyers with the fewest contingencies and who are flexible with things like their move-in date are the ones whose bid stands out to the seller.

5. Always work with a certified real estate agent

Smiling broker standing with documents, happy family hugging near their new home

What’s trending nationally is certainly different from the area where you’re looking to buy, sell, or relocate to. Work with us, your local real estate experts. Our team is certified, experienced, and familiar with the areas and neighborhoods you’re considering. As your local agents, we are the most trusted resource for accurate information that you have at your disposal. Our unparalleled knowledge of our local community will give you the competitive advantage you need in this housing market.

In Today’s Market You Deserve to Work With the Best

If you’re ready to make your move, we know the housing market trends. We have decades of experience in the natural ups and downs of the market. We know how to help you best navigate what’s happening right now. Contact us today to get started exploring your options and crafting a winning strategy.

For another perspective on mistakes to avoid when homebuying, read our list for first-time homebuyers.

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Top 3 Staging Tips To Sell Your Home Faster

Key Takeaways:

  • Staging showcases a home’s best assets, and helps sell it for top dollar.
  • You’ll be at an advantage if you take the extra step of staging your property.
  • This is a great time to plan for the future of your home, so contact us today!

First impressions matter. When you finally put your house on the market, you’ll want to pay special attention to how you stage your property.

Staging is a real estate term that means how a house looks. Good staging helps buyers imagine themselves in the home. It shows off the property’s good features, hides its flaws, turns unconventional spaces into usable spaces, creates a mood, and makes the house look significantly better in photos.

Let’s look at why staging is necessary. Read on for some of the staging steps to ensure you get top dollar for your home!

Why staging your home matters

Home neatly staged for selling.

Potential buyers aren’t just looking for a structure to inhabit – they’re also looking for a way to fulfill their dreams. If done well, staging allows buyers to imagine themselves already living in the property. It can create a more emotional sale for the buyer, generating more money for the seller.

Potential buyers don’t want to see work they will have to do upon moving into the home. For every problem they see, they will want to deduct its cost from the offering price. If too many issues get noticed, they may even pass on the home entirely.

Before they step foot into a home, prospective buyers spend hours looking at pictures of their potential new homes on the internet.

How your home looks, inside and out, is arguably the most crucial feature of your home. If it doesn’t look good, potential buyers will continue their search and keep clicking. Proper staging gets them to stop. They will envision how the house might look once they move into it, making it look more move-in ready.

Essential home staging according to the experts

Painting your home to sell for higher price.

According to the 2021 Profile of Home Staging, a National Association of Realtors (NAR) report, 82% of buyer’s agents said that staging makes it easier for buyers to visualize a property as their future home, which can help the home get top dollar and sell faster. The report also found that staging the living room was very important to 46% of buyers, followed by the primary bedroom at 43% and the kitchen at 35%.

Before you give in to the temptation to think that staging your home will cost you thousands of dollars, let’s take a quick look at a few of the most cost-effective and simplest staging steps to help your home sell for top dollar more quickly.

  1. Keep it clean

A clean home shows potential buyers that you’ve taken good care of the property. Ideally, you should clean every part of the house, from the floors to the ceilings and everything in between.

If you don’t have new appliances in the kitchen, there’s no need to worry. Just make sure the existing ones are spotless. Likewise, ensure your bathrooms sparkle, from the corners of the tub to the sink drain to that spot behind the toilet you don’t think anyone can see. Your goal should be to make everything look new and hospital clean.

  1. Take care of your clutter

Buyers need to be able to envision themselves in your home, so remove all the family photos, keepsakes, and refrigerator art. Yes, the velvet paintings must come down. Likewise, keep clothes hidden away as much as possible, and make sure the bathroom counters are empty (except for hand soap, of course). Similarly, put away all the toys and anything else that is highly personal to the home’s current inhabitants.

  1. Plants and paint go a long way

A few potted plants can do wonders to make your home feel fresh and inviting to potential buyers. But conversely, if you’ve got a lot of indoor plants, this could create a cluttered feeling, so you’ll want to remove some of them. Additionally, a new coat of paint is a relatively inexpensive and quick home staging step you can take that will pay big returns on closing day.

Work With the Best

If you’re ready to move, work with your local team that knows the micro-housing market trends in your area. Our real estate agents have decades of experience and understand how to help you best navigate today’s market. So don’t hesitate to reach out and say Hello! to figure out your best options for buying or selling your next home!

As staging is to the interior of your home, curb appeal is to the outside.

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How to Stay Ahead of the Real Estate Market

From volatile national market trends impacting local housing markets to unforeseen structural problems, a property’s value fluctuation can be tricky to gauge accurately. However, the good news for current and would-be homeowners curious about a property’s actual value in today’s market is that information is more accessible than ever. So let’s look at some of the easiest, most straightforward options for knowing a property’s actual value and why it’s so important!

Key Takeaways:

  • Knowing your property’s real-time value is more important than ever
  • Build a relationship with your local real estate team to maximize your money
  • This is a great time to plan for the future of your home, so contact us today!

Know the accurate value of your property:

Stacked gold coins and plant growing on the top and wooden home model

 

People usually want to know how much a home is worth to take comfort in knowing they’re making a good investment. Buying or selling a home is one of the most significant financial investments people will ever make. So naturally, when sellers want as much profit as possible and buyers want to pay as little as possible, achieving the right balance between these two when the closing time rolls around can be tricky. Staying informed about your home’s value and the trend of home prices in your local area allows you to make better financial decisions overall. It all boils down to knowing how much a home is realistically worth. 

Suppose you’re a current homeowner about to place your property on the market who’s considering a renovation to increase your payout at closing; knowing your home’s current value will help determine if doing so is even necessary, potentially saving you thousands of dollars. Or perhaps you’re a buyer eager to make an offer; knowing a property’s real-time, comparative value in the market could help you avoid overpaying. 

And this is where getting to know your local real estate professionals becomes one of the most important decisions you will make.

Build a relationship with your local real estate agent

Real estate agent showing modern house

Regardless of what is happening within the broader national housing market, buying or selling a home is always a local matter. While real estate is an industry heavily influenced by environmental, political, social, and broader economic forces that affect property value and pricing, what is valid for buyers and sellers in San Francisco differs from what is reasonable for buyers and sellers in Sioux Falls, SD. 

This is where knowing who your local real estate experts are is invaluable. Top-earning real estate agents have one thing in common: they know their local real estate markets. Ask them any question about the area, and they can answer it, or at least they know where to go and who to ask to find the answer. 

So, when you’re ready to put your house on the market or make an offer, the first and easiest step you can and should take is to contact your local real estate professionals. They are experts in their field who understand market etiquette and know how to make a great offer that achieves the difficult balance of satisfying both buyer and seller. The right real estate agent knows how to negotiate the complex web of forms best, and they can foresee issues you might not.

Discover Your Real Estate Partnership

If you’re ready to move, don’t get caught up in the frenzy of negative news. Instead, work with your local team that knows the micro-housing market in your area. Our real estate agents have decades of experience and understand how to help you best navigate today’s market. So don’t hesitate to reach out and say Hello! to figure out your best options for buying or selling your home!

When you know your value on the market, make sure that you maximize that potential with proper staging. Read our blog on Staging Mistakes for more information.

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The Housing Market is a Win for Buyers and Sellers

You might hear a lot of doom and gloom news about the housing market lately, but let’s put it in perspective. The COVID-19 global pandemic caused unprecedented disruptions to financial markets, including housing. Now, with everyone ready to move forward, the historic hot housing market is returning to normal. Let’s look at what that means for buyers and sellers. 

Key Takeaways:

  • Ignore the negative news—the market is coming back down to earth
  • Homeowners have record equity, and buyers have more inventory
  • This is a great time to make a move in the market, so contact us today!

The current housing market and forecast 

Dreaming of new home

Our last blog post looked at mortgage rates in their historical context. While today’s rates range between 5-6% and are certainly higher than homebuyers’ rates during the COVID-19 pandemic, they’re nothing extraordinary. Today’s rates are still far below the all-time high of 18.45% set back in the 1980s! 

A recent report by Fannie Mae forecasts that over the next 12 months, US consumers anticipate home prices to fall for the first time in two years. With potential buyers expecting further price declines and sellers not keen on giving up their lower, fixed mortgage rate, now is the time to buy or sell your home.

However, for first-time homebuyers seeking to make a move, news of continued cooling of home prices is welcome, which will keep demand high. While current homeowners considering selling may be concerned that they missed the window to realize their equity gains or will lose out on their current lower mortgage rate, it’s important to remember the larger historical trends regarding real estate investments. And, if you’re purchasing another home, you have more homes to choose from.

What home sellers need to know right now

Real estate agent handing over keys of new home to young couple. Happy new property owners with estate broker.

Don’t listen to the news cycle pedaling doom and gloom about your equity gains and home value. Buying or selling property is always a good investment. The real estate market always presents opportunities, and home prices are simply moderating from historic highs. 

Moreover, homeownership is a long-term asset that pays out over time, and the record equity gains of the past few years that current homeowners have enjoyed aren’t likely to ever happen again. So, while home prices are cooling off, the decline is less than 1%, leaving those equity gains intact when you decide it’s time to sell.

What home buyers need to know right now

Happy couple sold home sign.

CoStar Group, an online real estate analytics provider, recently reported negative growth in asking rental prices for the first time in 20 months, falling 0.1%. While this is undoubtedly welcome news for renters and would-be homeowners battling skyrocketing rental prices, the cost of rent remains a high hurdle for many to clear every month. 

For potential homebuyers wondering if now is the time to stop paying rent and move toward homeownership, it’s worth remembering that owning a home will always be a better long-term investment of your money than renting. 

So, despite a new Fannie May survey declaring that around half of today’s consumers hold a negative view of the market and think it would be difficult to get a mortgage today, this is overly pessimistic. Moreover, there are numerous loan options for qualifying buyers, such as first-time buyers and veteran programs. 

Getting a mortgage is one of the most significant financial moves a person will ever make, and preparation is critical. So before you apply, spend some time ensuring that your credit and finances are in order. Because when you find your perfect home, you’ll want to be able to make an offer immediately.

Take the Next Step

If you’re ready to make a move, don’t get caught up in the frenzy of negative news. Instead, work with your local team that knows the micro-housing market in your area. Our real estate agents have decades of experience and understand how to help you navigate the market. Contact us today to figure out your best options for buying and selling your home!

For more information read our article on Staying Ahead of the Housing Market.

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Why Now Is the Right Time to Buy Your Dream Home

Many would-be homebuyers are fearful of rising mortgage rates. It seems like the news is non-stop negative when it comes to talking about the housing market. But it’s worth putting those headlines into perspective. In 1981, mortgage rates hit an all-time high of 18.45%! On a 30-year fixed mortgage right now, you can expect to find rates around 5.9%—that’s 68% less than the highest mortgage rates homeowners have historically managed. Let’s take a look at today’s mortgage rates and see why this is still the time to buy your dream home. 

Key Takeaways:

  • Mortgage rates are going up, but they’re actually not that high. 
  • You’re still in control: you can get yourself a lower rate with these smart tips.
  • Find opportunities in your local real estate market—contact us today!

Why are mortgage rates increasing right now?

Sitting smiling happy meeting with real state agent signing mortgage loan at bank.

The COVID-19 pandemic had unexpected financial consequences across the entire world. One of those was a real estate boom in the United States, spurred by record-low mortgage rates. 

In December 2020, the 30-year fixed mortgage rate was an astonishing 2.68%. And guess what? These were the lowest mortgage rates in history. The whole year of 2020 saw the lowest annual average rate in history at 3.11%.

That historical high of 18.45%? That was caused by record inflation during the OPEC embargo. And, the Federal Reserve is working hard to curb inflation right now to avoid things like double-digit mortgage rates returning. 

So, while plenty of lucky homeowners were able to purchase new homes or refinance their existing ones at around a 3% mortgage rate in 2020, it was extremely unlikely that those rates would ever become the norm—because they have never been. It was only due to the COVID-19 pandemic that rates were temporarily at their lowest of all time. 

Can I still buy a home with 5% mortgage rates?

Cheerful couple with keys to their new home.

Of course you can still buy that dream home! Before COVID-19 ushered in a few years of unprecedented global economics, in January 2019 the average mortgage rate was around 4.5% and around two-thirds of Americans still owned and occupied their homes. 

Mortgage rates have seen spikes and dips and national and international events influence financial markets. But for more good news, let’s consider that the average mortgage rates have actually declined every decade since the 1970s, and the amount of homeowners has steadily increased as well. 

With rates around 5% right now and more economic uncertainty on the horizon, this is still a great time to buy a home. You can lock in a rate that’s actually on the lower end, and be able to refinance when the time comes that they fall below 5% again. Or, you’ll be in a perfect position to sell your home at that time and realize your equity gains. 

How you can secure a lower mortgage rate

Family teaching their daughter to save money.

There are still steps you can take to lower your rate, independent of the Federal Reserve. Even though the Federal Reserve is responsible for setting interest rates, mortgage rates are only influenced by the Federal Reserve, and there are more factors you can control. 

First and foremost, make sure you pay attention to improving your credit score. It’s always important to have a decent credit score when applying for loans, but even more so when you can save yourself money every month on your mortgage.

Next, pay down or off any debt and try to increase your income if you can. A higher annual income helps with mortgage rates, but may also give you some extra spending to pay down debt before applying for a home loan. 

And finally, shop around for different lenders, and consider different types of mortgages. There isn’t just one lender in town, and there are more options than the conventional 30-year fixed mortgage. A combination of the right lender and the right mortgage for your financial situation can make a big difference in your final monthly payment.

Let’s Buy Your Dream Home

There are still plenty of wonderful homes for sale in all types of price ranges in different neighborhoods. That’s why it’s important to contact your local real estate team. Don’t worry so much about the headline news—focus on what’s happening in your backyard, and what kind of home you can buy right now. Contact us today to get started!

Read our article on This is the Key to Your Dream Home for more information.

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Why You Need a Real Estate Agent in This Shifting Market

Key Takeaways:

  • Understanding the ebbs and flows of the market is crucial to success
  • A real estate agent is on your side and knows your local market best 
  • Start planning your next move now – contact us!

What to Do When the Market Changes

Buying or selling a home is one of the most exciting moments in people’s lives, and it’s also affected by broader economic trends. The challenging process is filled with details and detours. Today’s housing market is continually pivoting amid persistent global pandemic-related influences and a subsequent housing supply crisis.

If you’re looking to buy, sell, or both, employing the services of a trusted real estate professional is a critical decision that can make or break your deal. The local knowledge and experience they bring to the table will help you navigate the real estate investing process wisely, especially in today’s rapidly shifting housing market. 

So, let’s take a deeper look at current housing market trends to better understand what’s going on, why hiring a professional real estate agent is essential, and let’s help you figure out your next best step!

Understanding the current housing market 

Real estate agent explains the current housing market to young couple.

Understanding the shifts occurring in today’s housing market is simple when you boil it down to basics: people moved in response to the COVID-19 pandemic. Some homeowners moved because their jobs went remote, and others upgraded or downsized to cash in on their equity gains. But, regardless of their reasons, people flooded into the housing market, disrupting the balance between supply and demand.

Recently, numerous reports have stated that we are in a “buyer’s market” now due to home prices beginning to stabilize and houses sitting on the market longer. However, at the same time, because of higher mortgage interest rates and the available housing supply continuing to lag behind current market demand, others have declared that we’re still in a “seller’s market.” With all these conflicting reports about what is happening in today’s housing market, it’s easy to get confused about what’s really going on. 

Here’s the truth: today’s historic hot housing market is a robust win-win for both buyers and sellers. With the available housing supply finally beginning to rise, buyers benefit from having more properties to choose from and don’t feel the need to settle or place an offer for fear of missing out. At the same time, sustained demand has preserved historic equity gains that remain beneficial for sellers should they choose to put their homes on the market.

Why hiring a trusted real estate agent never goes out of style

Real Estate Agent Shows Bright New Home to a Young Couple. Successful Young Couple Becoming Homeowners, Embraces and Hugs Each Other.

It is not uncommon or unusual for real estate markets to change. It happens all the time. However, one thing that doesn’t change is the value and peace of mind that hiring a trusted real estate professional provides you. 

If you’ve been reading the national headlines and wondering what it all means for you and your local area of interest, hiring a local real estate agent is vital, since real estate is all about location, location, location. Some neighborhoods and communities thrive amid all the turbulence, while others are staying cooler even in this hot market. If you’re selling, your agent will know the best way to position and market your property to get top dollar for the sale. And if you’re buying, your agent will help steer you in the right direction of your desired neighborhood, and cut through all the larger noise of the national market.

The best part? Your agent is a trained negotiator, and their expertise goes way beyond finding a place to call home. With your agent’s help, you can get what you want out of the deal. Think beyond purchase price and consider all of your contract’s terms, with potential benefits including a longer closing date, special repairs, and upgrades to the property, or even getting the seller to pay some of your closing costs.

Ready to Conquer the Market?

The best way to beat the market swings is to work with a real estate professional that knows your area. With decades of experience, our team is here to help. We’ve seen it all, and are here with smart advice to give you the competitive advantage. Let’s connect today and figure out how we can achieve your goals.

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The 2022 Summer Housing Market

Key Takeaways:

  • There’s a lot to be excited about with this summer’s housing market.
  • Homes are for sale with the features you want, like swimming pools.
  • Our team knows how to help get the most for your home – contact us!

Despite news about a looming recession, high mortgage interest rates, and low inventory negatively impacting the housing market, many good things are still happening and worth getting excited about in the 2022 summer housing market. 

Some promising news in today’s historic housing market is that home demand remains strong, with well-vetted, qualified buyers making cash offers, creating a more balanced seller’s and buyer’s market. Additionally, home values continue to defy the odds and climb higher with no end in sight, helping your equity gains grow, which creates opportunities to put your equity gains to use that have never been better.

So, let’s take a deeper look at the 2022 summer market trends and help you figure out your next best step!

Upgrade to a home with the summer features you want

Senior neighbors having fun spending sunny summer day together outdoors, having a backyard barbecue party by the swimming pool

Maybe you’ve just returned from vacation, and you miss relaxing by the sea, or perhaps you didn’t go on holiday this year and missed out on getting to spend afternoons poolside or get to the ocean. Or possibly you’ve looked into getting a pool, or some other addition, installed at your home and have encountered supply chain issues. Regardless, there’s no reason to be discouraged. 

While housing supply is at record lows, it’s important to remember that historically, summer marks a lull in inventory that gets improved upon by the season’s end. This year is no different, with plenty of updated and newly-built properties available on the market, so it’s a great time to look and see if your ideal property that already has a pool or a pavilion is on the market right now waiting for you. 

Real estate is a proven safeguard against recession

Closeup house model over the Sale representative offer the house price list and condition for house purchase or rental on the working space table in new house

A shrinking economy marks a recession. People will spend less money on discretionary purchases, focusing instead on essentials. Companies may slow down hiring or even begin laying off workers to bolster their bottom lines. Stock prices may drop in the face of uncertainty about the economy.

When a recession sets in, the value of your stock portfolio may take a hit if prices drop temporarily. While downturns aren’t ideal, they can create opportunities for savvy real estate investors. If you’re considering investing in real estate during a recession or already own investment property, you need to have a strategy for maximizing your equity gains. 

Real estate can offer some stability for investors when the economy slows. Of course, a recession doesn’t automatically cause a drop in home values. But if a recession causes a hot housing market to cool off, that could open up opportunities for you to find your dream property at a discount.

It may seem contradictory to move during these challenging times, but remember, even with higher mortgage interest rates, there are always opportunities, even in the most demanding of seasons. What makes the difference is doing your research, knowing what you want and can afford, and most importantly, working with a capable guide before leaping.

Just remember: As with any real estate purchase, it’s not about right-timing the market but about buying at the right time for your personal goals and finances.

Let’s Talk About Your Real Estate Goals

Whether following local and national trends and guiding you through a shifting market or pricing your house right, a trusted real estate agent has the expertise you’ll want to rely on throughout your next transaction. So if you’ve been considering selling, let’s connect so you can have an expert on your side.