When you’re From 1983 to 2019 (the last normal year in the market), newly built homes made up only 13% of the total inventory of homes for sale. But today that number has climbed to over 33%. Rest assured, after over a decade of As LendingTree explains: “In the past, newly built homes have been much more expensive than existing homes — but that gap has been getting smaller recently. In some places today, you may find that the cost to build versus buy is roughly the same.” And an article from CNBC says: “While new builds are still sold for slightly more than existing homes, the price gap has ..read more

If you’re thinking of buying or selling a house, it’s important to know it doesn’t just impact you—it helps out the local economy and your community, too. Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below): When a house is sold, it really boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a ..read more

If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that’s not going to be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you. While there’s no arguing this housing market is challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side. Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hurdle, you may have options to ..read more

Thinking about Let’s take a closer look and see if they’re motivating you to make a change too. 1. To Make a Profit If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here’s some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM, a property data provider, explains: “. . . home sellers made a $121,000 profit on the typical sale in 2023, generating a 56.5 percent return on investment.” That’s significant. And here’s one contributing factor. During the pandemic, home prices skyrocketed ..read more

Some Highlights Having a hard time finding a home in your budget? ​Builders may have a solution that can help. Builders are shifting their attention to what buyers want most right now – smaller, more affordable homes. If you want to see what’s available locally and in other areas nearby, connect with an agent to explore your options together.  Find Your Next Home [showcaseidx shortcode encountered an error] FREE Buyers GuidePlease call/text/message/ me to share your thoughts about your next home and I’ll identify your most important next step. If you’re reading this late at night and ..read more

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead. Economic Factors That Impact Mortgage Rates When it comes to mortgage rates, things like the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all have an impact. Another factor at play is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be heari ..read more

Thinking about buying a home? While today’s mortgage rates might seem a bit intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your own place. 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally they’re still going up. In fact, over the long-term, home prices almost always go up (see graph below):   Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices have climbed steadily for the pa ..read more

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right. But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below):   This graph shows more homeowners are putting that sale sign up in their yards compar ..read more

Thinking about Why Are Sellers Feeling so Optimistic? One reason why is because right now is traditionally the best time of year to sell a house. A recent article from Bankrate says: “Late spring and early summer are generally considered the best times to sell a house. . . . While today’s rates are relatively high, low inventory is still keeping sellers in the driver’s seat in most markets.” These are the seasons when most people move. That means buyer demand grows. And because there still aren’t enough homes for sale to meet that demand, sellers see some serious perks. According to Rocket ..read more

Some Highlights Did you know the equity you have in your current house can help make your move possible? Once you sell, you can use it for a larger down payment on your next home, so you’re borrowing less. Or, you may even have enough to be an all-cash buyer.  The typical homeowner has $298,000 in equity. If you want to find out how much you have, connect with a local real estate agent for a Professional Equity Assessment Report. Find Your Next Home [showcaseidx shortcode encountered an error] FREE Buyers GuidePlease call/text/message/ me to share your thoughts about your next home an ..read more