Interest rates continue to be a main topic of conversation as we move into the 2nd quarter of 2024. Rates have always fluctuated, but on average have hovered in the 5 to10% range for the past three decades. As of right now, industry experts are reporting that rates could potentially fall to around 6% by the end of 2024. The supply and demand scenario we are seeing nationwide has been 10 years in the making, so the likelihood of waiting another 6 to12 months will make your purchase more affordable is very slim. If you do find a home you like, and you can afford the payment, our best advice is t ..read more

How will the first quarter of the new year shake out when it comes to rates and prices?  We may be in the thick of cold winter months but many buyers are already having warm thoughts about the market.  With a recent decline in rates we have seen another uptick in activity! We are having lots of conversations with homeowners right now to get them prepared for the 2024 selling season.  Some sellers opt to wait until the warmer months (April/May) to list their homes but many are looking to beat the larger influx of inventory by putting their home on the market while inventory is lo ..read more

If you are like many of people, you are a bit confused by what you see in the main stream media regarding the real estate market. The headlines have an impact, even if they are not always true.  The best way to say what we are experiencing is a softening of the market.   Activity has slowed a bit but it is still considered a seller’s market because of supply and demand. Especially in the lower price points.  With the holidays fast approaching the trend is that the inventory will continue to go down a bit more.  What does this mean for sellers? This is a great time to sell ..read more

Many homeowners today bought or refinanced their homes during the pandemic when mortgage rates were at a historic low. While today’s rates have increased a bit over last year, you have to remember that mortgage rates aren’t the only thing to consider when making a move. Any lender will tell you it’s important to marry the house and date the rate! Your mortgage rate is important, but there are plenty of reasons you may still need or want to move. The most common reasons for selling were the desire to move closer to loved ones, followed by moving due to retirement, and their neighborhood becomin ..read more

As the market has cooled somewhat, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too! Here are couple of trends that may benefit you when you go to buy a home today. Bidding Wars Have Eased One of the top stories in real estate over the past two years was the intensity and frequency of bidding wars. But today, things are different. Now you have a chance to jump back into the market and enjoy searching for a home with less competition. As interest rates slightly increased in the fall of 2022, the buyer pool shrunk as well. More Negotiation Power When you h ..read more

Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new lows many times over, and the trend has continued through this year.  Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.   Where will mortgage rates be a year from now?   Today, interest rates are hovering around 3 ..read more

When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are a few great reasons why this is the perfect time to sell your house now. There’s high demand from homebuyers. Buyer demand is strong right now, and buyers are active in the market. When your house is positioned to get a ton of attention from competitive buyers, you’re in the best spot possible as the seller. The demand is so high, the market is running ou ..read more

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. A pre-approval from a lender is the only way to do this. How competitive is today’s market? Extremely – especially among buyers. With limited inventory, there are many more bu ..read more

With so few houses for sale and low mortgage rates driving buyer activity, bidding wars are becoming the norm. Here are three things you can do to make your offer a competitive one when you’re ready to make your move. 1. Be Ready Multiple-offer scenarios are heating up, so it’s critical to get pre-approved in advance. This way, you can put your best foot forward quickly and efficiently. Buyers who are pre-approved are definitely a step ahead when it’s time to make an offer. It’s best to contact a mortgage professional to start your pre-approval process early, so you’re in the best positio ..read more

There are many benefits to working with a real estate professional when selling your home.  During these challenging times like we face today, it has become even more important to have an expert guiding you through the negotiation. If considering selling on your own, please consider the following: Putting a sign in your yard, and placing a few photos on a site such as Zillow.com, is NOT enough to attract prequalified buyers. Exposure to the buying public is what brings the multiple offers, which in turn can drive up the price.  Over 93% of buyers will look on-line to find a home. An ..read more