US Housing Market Archives

December 15, 2021June 19, 2024

What to Expect in the 2022 Real Estate Market

Key Takeaways:

Many of the dynamics seen in 2021 will carry through into next year’s housing market, but at a much less frenzied pace.
As remote work becomes a more permanent, widespread option, Millennials are taking advantage and entering the real estate market.
We’re ready for another seller’s market. Like last year, there isn’t time to waste—contact us to start planning now!

What Buyers and Sellers Need to Know About the 2022 Housing Market

In the final few weeks of 2021, both home buyers and sellers look forward to what lies ahead in 2022. We can help build your strategy to stay competitive! Don’t wait for the real estate market to heat up during the spring and summer. Here’s what you need to know to get ahead of the competition next year.

First-time home buyers can overcome the challenging market

Recent real estate forecasts suggest that competitive will be the defining characteristic of the housing market throughout 2022. That will be especially true for first-time home buyers.

Competing levels of low inventory supply and high buyer demand will continue to hold housing market values at, or above, asking prices. Total inventory will increase by the end of 2022, but it will not be enough to slow the seller’s market.

For first-time home buyers to secure their house, they need to start early and expect competition. On a positive note, low interest rates can help new homeowners build equity faster.

Millennials are working remotely and finally buying homes

A lot has changed in these last two years. Buzzwords like “the new normal” were everywhere, along with speculations about how people lived, worked, and commuted were going to change. As we enter into 2022, we now have data reports and are beginning to see how these changes affect the housing market.

The ability to work remotely is helping the more than 45 million Millennials that make up the fastest growing segment of buyers. After an uphill battle, they’re entering the prime first-time home buying age range of 26 – 35, and changing the real estate landscape.

Millennials are leaving the glamor of big city life to take advantage of more affordable housing markets in suburbs and rural areas. As long as they have internet access, their salary remains the same. And unsurprisingly, 99% of them use technology to research the home buying market.

With 90% of managers and employees reporting that they’re happy working from home, and productivity increasing by as much as 47%, remote work is here to stay. The new normal will also create new investment opportunities as companies seek to reduce their office sizes.

Low inventory stretches into the new year

After years of underbuilding, housing supply shortages will continue to be a dominant feature of the market next year. One of the most significant factors that will carry over immediately from last year is low inventory supply.

Available housing will remain tight throughout the year. While that will generate some stress, it will also drive home values higher. Estimates of continued home sales growth will be 6.6%.

While housing inventory levels will remain lower than their pre-pandemic levels throughout 2022, a modest 0.3% growth in inventory should be enough to keep market prices from spiraling even further upward.

Sellers remain in control of the market

As we look ahead to 2022, some clear realities for the housing market begin to appear: it will remain a seller’s market. Interest rates continue to hover around a record-low 3%, providing incentives for sellers to upgrade to a larger home for a lower monthly payment.

After the refinance boom in 2020, homeowners are still in an advantageous position. With home sales expected to hit their highest level in 16 years due to Millennials entering the housing market, sellers sit in a very good position to profit. If accurately priced and, more importantly, if houses are in great condition with upgrades throughout, the real estate market will continue to be a boon for sellers.

Be Prepared for a Competitive Year

The new normal in 2022 turns out to be an old adage: the early bird gets the worm. We have the experience and can move quickly to make sure you stay competitive, regardless of whether you’re buying or selling. Contact us today to make your plan for the new year!

November 15, 2021December 20, 2024

From Boomers to Zoomers

Looking for advice? We’re here to offer some savvy real estate tips for every generation, from Gen Z to Baby Boomer.

Key Takeaways:

Buyers throughout all walks of life are wondering how to navigate today’s competitive housing market.
Whether you’re a Gen Z first-time buyer or a Baby Boomer looking to downsize, you should consider making a move to lock in your real estate goals.
Have questions about buying or selling? Contact us for personalized advice!

What Every Generation Should Know About Buying a Home

As older members of Gen Z reach home-buying age and Millennials make up the largest share of the housing market, buyers from every generation are wondering if now is the right time to make a move. Buying a home at any stage in life comes with its own unique challenges, so it’s crucial to consider your future and factor finances into your decision.

Gen Z: The New Buyers on the Block

If you’re part of Generation Z, you were probably born after 1997—and the oldest “Zoomers” are just now buying their first homes at 24 and 25. Even though most members of Gen Z aren’t quite ready to tackle homeownership, this socially conscious and highly educated generation is setting goals for themselves when it comes to real estate.

According to a new survey by Homes.com, over 85% of Gen Z plans to buy a home before turning 35. So if you’re a Zoomer, now is the perfect time to begin saving and paying off any debt. Start researching the home-buying process, learning about different loan options, and setting aside as much extra cash as possible to build up your down payment (spoiler alert: it doesn’t have to be the traditional 20%). And if you have any questions, don’t hesitate to speak with an agent…it’s okay if you aren’t quite ready to buy!

Millennials: The Market Trendsetters

Millennials—known for their love of pets and avocado toast—comprise a whopping 37% of today’s total home-buyers. And after witnessing the 2008 market crash, a pandemic, and now record-low interest rates, they’re finally ready to buy.

Compared to other generations, Millennials waited longer to buy their first homes. This surprising shift can be attributed to rising student debt, the Great Recession, as well as a dip in marriage and fertility rates. However, if you’re one of the many Millennials looking to ditch renting and start build equity, it’s worth doing a deep dive on mortgages before beginning your search. Even if you don’t have a traditional 20% down payment saved up, you could take advantage of government backed loans or assistance programs. Remember—knowing exactly what you can afford and getting pre-approved will up your chances of securing your perfect place.

Millennials aren’t just first-time buyers, either—many have also stepped into the role of first-time sellers. If you’re selling a home without much experience, it’s more important than ever to work with the right agent. Don’t be afraid to shop around and interview a few candidates before settling on “the one!”

Gen X: Making a Comeback

Gen X—classified as anyone born between 1965 and 1979—makes up around a quarter of today’s total buyers. And while they may not have the same momentum as Millennials, members of Gen X typically aren’t buying their first homes. In fact, many are looking to upgrade and purchase a home at a higher price point than any other generation.

Per a new survey by the National Association of Realtors, Gen X is the highest earning generation, and they tend to buy larger and more expensive homes to accommodate growing households. If you’re one of the many Gen Xers eager to upsize—perhaps even into a multigenerational home—you’ll want to take advantage of the equity you have in your current place. The right agent will be able to help you sell for top dollar and find a new house that checks all your boxes!

Baby Boomers: Downsizing…and Investing!

A Baby Boomer born between 1946 and 1964 now faces the reality of retiring and downsizing. This exciting season of life can come with a few challenges, as well as some unexpected opportunities! If you’re a Boomer considering a move to a smaller home, it’s crucial to examine the equity you have in your current property. The average Baby Boomer has stayed in the same home for around 15 years—and in that timeframe, home values have risen by 50% or far more depending on your area.

So, what should you do with all that extra money once you downsize to a more manageable house? Consider paying all cash for your new place, especially if you want sellers to notice (and accept!) your offer. And as you adjust to retirement, using that leftover equity to purchase an investment property could be an easy way to generate extra income.

Take Advantage of Today’s Once-in-a-Generation Market

No matter where you are in the home-buying process, it pays to work with the right agent. We’d love to help you achieve your buying and selling goals, or just answer any questions you have about today’s hot real estate market. Home prices are on the rise, mortgage rates remain low, and there’s never been a better time to make a move!

To focus in on another generation, read up on millennial buyers in our article: Unlocking the Power of Millennial Buyers.

September 1, 2021June 19, 2024

Our Full Guide to This Winter’s Cooled-Down Market

Key Takeaways:

According to this winter’s market forecast, there’s going to be a flurry of new housing inventory that benefits both buyers and sellers.
More housing inventory provides additional options for buyers and newfound confidence for sellers who need to find a home after they list.
Thinking about making a move? It’s not too early to begin planning—and by starting now, you’ll be settled in your next home by the new year!

The Winter Weather Forecast Is Calling for a Cooled-Down Market

It might still be the beginning of autumn, but it’s never too early to start planning a successful home sale! If you’re thinking about listing your home this winter, you should expect the market to look a little different by the end of the year. Winter is usually the quietest time for real estate, which means you can look forward to a cooled-down winter market forecast. A slower-moving market will give sellers more time to prepare their listings and peruse the market for their next homes.

Here’s what more housing inventory means for sellers

After enduring a red-hot sellers’ market so far in 2021, this year’s winter market forecast is finally calling for increased housing inventory. More homes on the market means two things for sellers: they gain more time to prepare their listings, but they might need to do a little more to stand out from the competition.

With additional properties expected to hit the market this winter, we want to make sure you get your home listed before our area gets snowed in with sellers. From highlighting your home’s top features to marketing it to targeted buyers, we can sell your property for top dollar in no time.

Homebuyers, your holiday present is here

Instead of a present under the tree, what if we could give you a new home instead? Current predictions indicate an onset of new housing inventory this winter, which means more options for buyers. So bundle up buyers—it’s finally going to be your turn to make a move in the market. More housing inventory and continually low interest rates could lead to a long-awaited decrease in home prices, all of which will help create a more balanced market.

As your local area experts, we know how to land your dream home in just the right community. So whether you’ve been browsing for your next home or already know you’re going to need a house after you sell, you can count on us to find your perfect place. And by using our comprehensive market reports, we can help you secure a home within your budget, too!

Now’s the time to take advantage of this year’s wintery market mix

While it might be tempting to put off listing your home until after the holiday season, you never know when the market is going to shift again. Trying to time the market is one of the biggest mistakes you can make as a homeowner, and we’re here to assure you that this winter (or even fall!) is the time to make your real estate move.

Both buyers and sellers can take advantage of this year’s wintery market mix of competitive listings and increased housing inventory. New properties on the market will provide buyers with more housing options to choose from, and sellers can list their homes knowing that they’ll be able to find a new place after they sell. And if you’re listing soon, you don’t have to worry about making your property stand out—our top-notch agents can handle all the details.

Ready to Slide Into the Market This Winter?

Hop on your sleds, we’re ready to help you slide into the real estate market this winter! Buying or selling your home—even during the holiday season—doesn’t have to be stressful. Allow us to handle all the details of your real estate transaction for you this winter, so you can be settled in your next home by the new year!

May 1, 2021June 19, 2024

5 Questions Sellers Keep Asking About 2021’s Hot Real Estate Market

Key Takeaways:

Today’s real estate market is heavily skewed towards sellers, making now the perfect time to list your home.
Many would-be sellers have questions about moving when the market is this hot—and we have the answers you need to get started.
If you’re considering selling your home soon, it’s crucial to work with a top local agent. Give us a call to see what we bring to the table!

The Top 5 Questions Every Seller Asks in Today’s Market

Whether you’re eager to list or are just thinking about selling, you’ve probably heard that the 2021 real estate market is one for the record books. Since last year’s swift economic recovery, home values just keep getting higher, and it’s not uncommon for listings to sell over asking price in just a few days. And according to the National Association of Realtors, the typical home is now selling for 14.1% more than last year.

Have a few reservations about listing your home right now? Here are the answers to some of the most common questions we hear from our sellers.

Should I even consider selling right now?

To put it simply: yes! There’s never been a better time to sell, especially if you’ve built up equity by living in the same home for a while. Since the beginning of the pandemic, we’ve seen a national housing shortage, record-low interest rates, and a surge of serious buyers. This has driven prices to all-time highs, and many buyers are even waiving contingencies or paying extra for the right home.

Looking for another reason to move? A recent survey by NerdWallet found that one in six homeowners plan to list their home in the next 18 months. So if you want to take advantage of today’s crazy market and beat out the competition, you shouldn’t wait much longer.

Will I be able to buy a new home after I sell?

A majority of homeowners aren’t worried about selling their home—they’re actually more concerned with buying a new one. If your home sells quicker than you expect, you still have options. You may be able to request “use and occupancy” or “rent-back” contingencies from your buyer, which allow you to live in your current home until you find a new one. It’s also worth asking your buyer if they’re willing to be flexible with the closing date. Depending on your situation, it might even be more advantageous to buy before you sell.

Do I need to work with an agent if the market is so hot?

Many homeowners believe they can make an even bigger profit by not using an agent, particularly in a seller’s market. While you may save some money on commission, you could end up selling your home for below its true market value. And let’s be honest—nobody has time to sort through dozens of offers or handle all the complicated paperwork that comes with selling a home!

If you want to price your home right and ensure a stress-free selling experience, it’s worth paying for an agent.

Should I still stage my home or make improvements?

Unless your home is in dire need of an update, there’s no need to make any major changes before you list. However, it’s still a good idea to do a little staging to get your space looking its best. Start by tidying up, getting rid of clutter, and depersonalizing as much as possible.

If you’re trying to sell a fixer-upper and don’t want to complete any repairs, consider listing “as-is.” This tells potential buyers that you won’t be making any changes—what they see is what they get.

What’s my home worth in today’s market?

Tempted to use an online estimator to see how much your home is worth? Before you type in your address, consider reaching out to a local real estate agent instead. The real estate market in our area changes day by day, and an agent will have up-to-date data that’s more accurate than any algorithm.

If you’ve lived in your house for at least a few years, your property has probably increased in value more than you’d expect. Get in touch with us today for a complimentary valuation, or give us a call for more personalized advice!

Sell Your Home with Confidence

Selling your home shouldn’t be a stressful experience. If you have even more questions about today’s market, just drop us a line—we’re here to make the entire process hassle-free!

Curious about your home’s value? Send over your address, and we’ll conduct a free, no-obligation home value estimate.

January 15, 2021June 19, 2024

Why You Shouldn’t Wait Until Spring to Sell Your Home

Key Takeaways:

After a turbulent 2020, many homeowners are holding out until spring to list their properties.
Though spring is usually the busiest season for real estate, now is the time to take advantage of high prices, low interest rates, and skyrocketing demand for homes.
Not sure when to list? Get in touch with us today to explore your options!

Here’s Why Sellers Should Capitalize on 2021’s Hot Winter Housing Market

It’s safe to say that 2020 was a challenging year, both in real estate and for the world as a whole. And as we celebrate new beginnings, many homeowners are pondering a move at some point during 2021. Traditionally, spring is considered the best time of year to sell a home—but thanks to a number of factors, this is no longer the case.

Still not sure if now is the right time to move? Here’s why you shouldn’t wait any longer to put your home on the market.

You won’t have much competition

If you haven’t seen as many “For Sale” signs in your neighborhood recently, you’re not alone. According to the National Association of Realtors, available inventory has plummeted by nearly 40% over the last few months, which is fantastic news for today’s sellers.

Dwindling supply and high buyer demand will put your home in the spotlight if you decide to list this winter, and it means you’ll be in the driver’s seat during negotiations. Because there are fewer homes on the market right now, you also won’t have to compete with other sellers waiting to move in the spring.

Interest rates are still low

Interest rates reached record lows in 2020, which tempted many buyers to enter the market even amidst a pandemic. In November, rates actually dipped below 2.3%—that’s the lowest they’ve been in recorded history!

Most experts believe interest rates won’t spike during 2021, but we’ll probably see some slight increases as the economy continues to bounce back. Listing your home before rates go up comes with a lot of benefits, and it might even be the smartest financial decision you ever make.

Low interest rates help drive buyer demand and make homeownership more affordable. As a seller, that means you’ll draw in a larger audience of financially-qualified buyers and maybe even sell faster than you expect. If you plan on buying another home, you’ll be able to secure a great rate, too.

Home prices keep rising

If you’ve lived in your current home for more than a few years, now could be the perfect time to sell and cash in on your equity. In a recent study, the National Association of Realtors found that home prices have increased by a whopping 13.4% since 2019. In 2021, prices are expected to increase by 8%—and in 2022, that projection drops to just 5%.

While it may be tempting to “time” your sale to get the best possible price, selling your home when you know the market is doing well is a surefire way to yield an impressive profit. And if you’re ever curious about how much your home is worth right now, you can always ask your agent for a free home valuation.

The market could change before spring

As the market continues to recover, it’s still hard to know what will happen in 2021—after all, nobody predicted last year’s pandemic and economic collapse! Most experts aren’t expecting another sudden crash, but that doesn’t mean you should wait until spring to list your home.

Right now, we’re seeing a record amount of home sales, as well as a surprising number of motivated winter buyers. So if you want to be smart about your move, it makes sense to sell sooner rather than later.

Get the Most Out of Your Home Sale

If you’re thinking about selling your home this winter, contact us today to get started. We have plenty of resources to guide you through every step of the process, and we can even help you buy your next home after you sell.

Want to know how much home prices have risen in your neighborhood? Be sure to ask about our complimentary home value assessment!

November 1, 2020August 2, 2024

Busting the Biggest Home-Buying Myths of 2020

This year has been difficult for just about everyone, but if you were (or still are) thinking about buying a home in 2020, you might be feeling more than a little overwhelmed. An ongoing pandemic, the subsequent recession, and general uncertainty have forced many house-hunters to put their real estate dreams on hold. However, despite all these potential obstacles, homeownership is still a very attainable goal.

Don’t Let These Myths Keep You From Buying a Home!

Buying a home is a huge decision, and it’s one you shouldn’t make without careful planning. Unfortunately, there’s a lot of misinformation out there regarding the home-buying process and the real estate market as a whole, especially as the nation continues to navigate an unpredictable year.

Still unsure about making a move during 2020? Here are four of the most common myths that deter today’s buyers—and why you shouldn’t believe them.

It’s not a good time to move

On the surface, this myth may seem true. Towards the beginning of the year, a majority of sellers chose not to list their homes, while many buyers didn’t feel comfortable moving during quarantine. This caused the national real estate market to experience an unusual spring slump. The good news is that the market has made substantial progress since March—actually, real estate has become one of the most stable investments you can make in 2020.

Pent-up buyer demand has helped the market recover in record time. In fact, the number of mortgage applications, closed sales, and pending sales are up by double-digit percentages compared to last year. And if you’re still hesitant to buy during a pandemic, you’ll be happy to learn that most agents now offer virtual tours and have put social distancing measures in place to keep clients safe.

Homeownership isn’t affordable

Does it seem like houses are getting more and more expensive these days? You aren’t just imagining things—home prices are about 6.5% higher than they were last year. This means a home that was worth $250,000 in 2019 could now sell for nearly $270,000.

While this may seem like bad news for buyers, you shouldn’t be deterred by rising prices. Historically low interest rates have helped to make homes more affordable, even as they continue increasing in value. Although a small change in interest rates may not seem drastic, it can actually save you tens of thousands of dollars over the lifespan of your loan.

If you already have a bit saved up in the bank for a down payment, buying a home can even be more affordable than renting. Today’s average mortgage payment of $1,275 is $188 less than the average monthly rent. That equates to a savings of over $2,200 per year!

You need a 20% down payment

You’ve probably heard that you need at least a 20% down payment to buy a home. While there is merit to putting down as much as possible, you can still purchase your own place with as little as 0% down by using the right loan.

According to a recent study by the National Association of Realtors, the median down payment for all buyers in 2019 was just 12%, and first-timers only put down an average of 6%. You might also qualify for an FHA or VA loan, which offer down payments as low as 3.5% or 0%, respectively.

It’s worth researching different types of mortgages, as well as down payment assistance programs available in your area. They could provide the financial boost you need to finally buy a home!

You can’t buy if you have debt or bad credit

The average American has accrued $38,000 in personal debt, excluding home mortgages. Even if you don’t owe quite that much, any kind of debt or a low credit score can seem like a pretty big roadblock if you’re trying to make a move. However, there are still a few options that can get you on the path to homeownership.

The easiest way to boost your credit score is to pay off your debts; consolidating your loans into one monthly payment could help you reduce your debt-to-income ratio. There are also a variety of loans tailored to buyers with lower credit scores, such as FHA, VA, or balloon mortgages.

It can take time to pay off debt and rebuild your credit, but that doesn’t mean you can’t work towards buying a home. If you have any questions about your individual situation, it’s best to contact your agent or financial advisor. They’ll have plenty of resources available to guide you in the right direction!

Take Advantage of a Hot Market

Are you thinking about buying a home before the end of the year? Contact us today to get the ball rolling on your real estate journey! We look forward to teaming up and finding you a place that checks all the boxes.

Need to sell before you buy? We can help with that, too!

October 1, 2020August 2, 2024

Increasing Home Prices

To say that 2020 has been a bit of a whirlwind would be an understatement. And as we get closer to the end of the year, many buyers and sellers are wondering if it makes financial sense to enter the market. Although the warmer months are typically considered the best time to move, buyer demand continues to surge into fall, while the available supply of homes just keeps dwindling. This has caused home prices to skyrocket to one of their highest points ever.

Need some advice before breaking into today’s competitive housing market? We have a few details to consider before making any big decisions.

Buying or Selling Soon? Here’s How Rising Home Prices Will Affect Your Move

Real estate has always been about supply and demand. For example, during the housing market crash of 2008, home prices plummeted partially because of low buyer interest. Today, though, we’re seeing the opposite—prices are increasing due to waning supply and rock-bottom mortgage interest rates.

This is fantastic news for anyone looking to sell their home and cash out on their hard-earned equity. Buyers, on the other hand, may have to do more to stand out from the competition.

Why have home values increased?

Even amidst a pandemic and national recession, buying a home is still a top priority for many Americans. In fact, according to a newly released report by the National Association of Realtors (NAR), the number of existing home sales reached a 14-year high this August. A similar report by Bloomberg states that if current demand holds strong, we could run out of housing inventory in around three months.

Wondering why so many people are clamoring to buy this year? Even in the face of rising home prices, low mortgage rates have enticed buyers to make a move. While record-shattering rates have helped to expand purchasing power, this intense desire for homeownership has caused prices to jump by a whopping 8.2% year-over-year.

Buyers can take advantage of lower interest rates to afford a more expensive home

If you’re thinking about buying a home soon, you’ll need to be prepared to navigate a cutthroat market. Ever since rates started decreasing in late 2019, more and more buyers have decided to start searching for a home. Unfortunately, this means you could get caught in a bidding war or might have to make some compromises to secure a place of your own.

Although prices have soared dramatically since last year, buying a home is still an attainable goal. In fact, when mortgage rates sunk below 3% this summer, buyers found themselves with an extra $15,000 in purchasing power.

If you’re feeling a little overwhelmed by today’s market, you’re not alone—and reaching out to an agent can help you get the answers you need. Consider contacting a real estate professional before you start looking for homes. They can provide the expertise you need to find your perfect place!

Sellers should expect to sell quickly and for top dollar

Today’s sellers are in a better position than ever before. Nationally, the housing market has struggled to keep pace with buyer demand for the last few years, but this deficiency has only been exacerbated by the pandemic. By listing now, you could take advantage of fierce rivalry amongst buyers, high home prices, and low competition from other sellers.

Despite the ongoing recession, home prices have actually climbed throughout most of 2020. Between May and July, existing properties appreciated in value by a whopping 2%, which is the highest month-by-month increase in three decades. If you’ve lived in your home for at least a few years, you could be sitting on six figures of equity.

Even if you aren’t interested in selling, there’s never been a better time to check on your house’s current value. A top-rated local agent should be able to perform a full home analysis and tell you how much you could sell for if you listed today.

Bottom Line: Now Is the Time to Talk with an Agent

Whether you’re thinking about buying or selling your home, you shouldn’t wait to connect with an agent who has plenty of experience in your desired area. They can help you keep up with today’s ever-changing market and answer any questions you might have.

Not quite ready to move? It’s still worth talking with an agent about your current home’s value, especially as we continue to see such dramatic price increases!

Ready to Take Your Next Steps?

No matter what your real estate needs might be, we’re here to help you every step of the way. Get in touch with us today and let us know what we can do for you. We can even conduct a comparative market analysis on your home to see how much equity you’ve gained over time!

September 15, 2019June 19, 2024

Tiny Houses: How These Small Homes Have Made a Big Splash

You’ve seen the shows on HGTV, the brand new series on Netflix, the craze on sites like Pinterest and Instagram—tiny houses are all the rage. These smaller spaces come with gigantic opportunities—if you’re looking for an incredibly versatile and stylish home, you may want to look into one of the hottest housing trends of the past year. We’ve got all the details you need to understand the ins and outs of tiny homes—and maybe even buy your own.

What is a Tiny Home?

Less than 1,000 square feet and often towable, tiny homes allow their owners to be economical, environmentally-friendly, and enjoy life on the move.

These small abodes are built with an emphasis on organization and maximizing space. You’ll often see stairs repurposed into cabinets, smaller appliances, and loft areas for beds. However, many tiny homes are quite luxurious, with some featuring full sized appliances, bath tubs, and multiple floors. This is proof that “tiny” doesn’t necessarily mean bare bones!

An Inside Look at the Lifestyle

Where did tiny homes come from? Well, it turns out they aren’t just a recent trend—they’ve been around since the 1970s. The tiny house “movement” is becoming increasingly popular, especially due to shows on tiny house living and construction.

Many tiny home dwellers are fully committed to this unique lifestyle, but it takes some getting used to. The most difficult part is paring down what you own, as these tight spaces don’t come with the same amount of storage as a normal home.

However, you don’t have to give up everything you love. Many residents say that living in a tiny home allows them to tour the country and live without clutter. Additionally, a well-built tiny house will allow you to have plenty of space for privacy, hobbies, and even pets.

Discover Diverse Design Options

While tiny-home living might seem pretty straightforward, there are actually quite a few variations between homes.

One major option for tiny homes is towing ability. Having a towable tiny home means you can live wherever you’d like and move at any time, but a stationary tiny house is often larger and features more amenities like multiple floors and screened-in porches.

In addition, there are many different size variations and exterior designs to choose from. Some builders even make custom designs for each homeowner. Nowadays, tiny homes are even being built in shipping containers!

Are They Here to Stay?

Tiny homes may seem like a trend, but the number of homes being built are on the rise. In 2017, the tiny home industry saw a 67% jump in sales, with numbers steadily increasing. Tiny homes also remain easy on the wallet despite rising home costs. On average, a tiny home can cost from $15,000 – $150,000, which is significantly lower than the average home cost of $218,000.

As millennials begin purchasing their first homes, tiny houses are becoming increasingly popular. This is because many millennial buyers are choosing smaller houses and prioritizing travel, making tiny homes the perfect mobile option. They’re also a terrific choice for downsizing after retirement.

Tiny homes don’t seem to be going anywhere, and as more and more people are embracing this unique way of living, tiny home designs are becoming even more elaborate. Even Amazon has started selling tiny homes, so you can order one with just a few clicks!

Ready to Make a Move?

No matter what kind of home you’re looking for, you’ll always need a real estate agent to help guide you through the process. Whether you’re buying or selling, we’ve got the resources you need to lighten your load.

Ready to make your move? Give us a call and let’s chat—we’d love to help you make your real estate dreams a reality!

September 1, 2019June 19, 2024

Is a Home Inspection Really Necessary?

Picture this: you’ve finally found the home of your dreams. It’s got all the features you’ve been searching for, and it’s in the perfect neighborhood. There can’t possibly be anything wrong with it…right?

Though technically optional, a home inspection is highly recommended by most realtors, as it can save you thousands of dollars—or even prevent you from making a costly mistake all together. Here are some reasons why you need a home inspection before you move in—even if you don’t see anything wrong on the surface.

You Could Avoid Expensive Repairs

This is probably the biggest advantage of a home inspection. Certain problems can cost thousands to fix and may not be immediately visible. Wondering what kind of issues a home inspector can find and how much they’ll cost? Here are some of the biggest issues uncovered during home inspections (and typical costs to fix):

HVAC replacement: $4,000 – $12,000

Leaky roof: $300 – $2,000 for basic repair, $4,000 – $20,000+ for advanced repair

Foundation issues: $4,000 – $10,000

A great home inspector will fully sweep the home and point out any problems or potential issues. If there are any big-ticket expenses, you may want to reevaluate your purchase.

You’ll Protect Your Wallet

Buying a home is one of the biggest investments you can make, and a good investment will generate more capital than what you initially paid. While a well-maintained home in a prime location can be a fantastic investment, expensive repairs can turn it into a financial disaster.

Once you have an inspection report detailing all of the issues with the home, you can evaluate the cost of repairs to determine if it’s a good deal. If you aren’t satisfied, you can walk away without losing much money.

You Gain a Negotiation Tool

While not all properties will require major repairs, even new construction homes may have issues you’ll want to take care of before moving in. You can use your inspection report as a negotiation tool to potentially lower the price of the home.

There are a few directions you can go from here. One option is to ask for money off of the price of the home so you can complete the repairs yourself. On the flip side, you can also ask the sellers to make the fixes as a condition of the sale. Either way, you’ll be saving yourself money in the long run.

You Get the Full Picture

While you may be in love with a home, it’s hard to know what potential issues to look for if you’re not a licensed professional. Think of a home inspection like a check-up, and the home inspector like a doctor—it’s the perfect opportunity to learn about the health of a home, from the roof down to the foundation.

The inspector can diagnose all kinds of problems and tell you what needs to be fixed (and for how much). After the inspection, you’ll be handed a comprehensive report that gives you a full picture of the home’s condition, allowing you a more realistic look at the details that you might not have noticed before.

Ready to Buy Your Next Home?

Buying a home can be a difficult decision, so make sure you have the tools you need to make a well-informed decision. For tips on smooth sailing during the buying process, give us a call so we can chat. We’ve got the resources you need to make the right choice.

Haven’t started the buying process yet? Check out our specialized search tool to find the home of your dreams, and let us know when you’re ready to get started.

November 1, 2018June 19, 2024

Why You Should Buy a Home During the Off Season

Your personal home-buying schedule doesn’t have to correspond with the real estate market! In fact, buying during the “off season” can yield tremendous advantages.

The “off season” differs depending on your specific location, but always refers to the period of time during a calendar year when both inventory and competition are low. Usually, this corresponds with the weather conditions in a particular area.

If you’re buying a home, you may just want to begin looking for your dream home during this period of market inactivity. Here’s why:

There’s Less Competition

During the off season there are typically far fewer active buyers looking for homes, as most buyers prefer to look for homes when the weather is great or their kids are out on summer vacation. If you’re searching during the off season, you won’t feel as much pressure from other buyers looking at the same homes as you.

This gives you plenty of time to tour homes, think about them, and come to a decision about whether or not you want to put an offer down.

But the Same Great Inventory

While inventory does decrease during the off season, you can still expect to encounter a great selection of homes for sale in your area. Home selling tends to correspond less with the weather or the time of year and more with an individual seller’s situation.

After all, sellers usually have unique reasons (like relocating for work or searching for a bigger home) for selling their home that aren’t related to the weather or the season.

So no matter the time of year, there will always be homes for sale.

You’ve Got More Room for Negotiation

As the buyer, you have the upper hand during the off season. Fewer buyers often mean more desperate or eager sellers. And many times, sellers whose homes didn’t sell during the busier seasons will drop their price to appeal to more buyers.

This eagerness to sell gives your more power in your negotiations. By working with your Realtor, you may be able to get the seller to agree to a lower price, or possibly even some upgrades or repairs.

Your Realtor Won’t Be as Busy

Not that your Realtor shouldn’t always make time for you, but during the hectic busy season, it can be tough! During the off season, real estate agents usually have fewer clients — meaning they have more time to dedicate to you and your needs.

However, when you choose to partner with us, you can expect a superior level of customer service—any time of year. Give us a call today to get started on buying your dream home.