If you’re planning to buy your first home, then you’re probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes: “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.” And a re ..read more

Even though home prices have moderated over the last year, many homeowners still have an incredible amount of home equity. But what is home equity? In the simplest terms, home equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time: “Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.” How Your Home Equity Can Help You Achieve Your Goals The home equity you build up over the years ..read more

As the housing market continues to change, buyers may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy. Home Prices on the Rise A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to ..read more

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest: “Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.” We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia: “A mortgage application is ..read more

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News: “Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.” Buyer Activity Jumps with Showings That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below): The 62% jump in showings from December to January is one of the largest on ..read more

The Lehigh Valley is a bustling area with plenty of opportunities for home buyers and sellers. With its close proximity to Philadelphia and Allentown, it’s no wonder that homes in the county are seeing an increase in value. But is now the time to buy or sell? Let’s take a closer look at what the market has to offer. Lehigh Valley Median Sold Price By Bedroom Count The median sold price of homes in Lehigh County varies depending on bedroom count. For example, one-bedroom homes had a median sold price of $175k in February 2023, a +19.5% increase from 2022. While four-bedroom homes had a median ..read more

If you’re ready to make a move, you may be thinking about using your current house as a short-term home rental instead of selling. A short-term rental (STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. According to a Harris Poll survey, 28% of homeowners have considered using a short term home rental service to temporarily rent out their home for additional income. A Short-Term Home Rental Comes with Responsibilities Successfully owning and renting a house takes work. Think through your ability to make th ..read more

As we start off the new year, let’s take a look at some of the most expensive homes that sold in the Lehigh Valley area in 2022. From elegant estates to exquisite mansions, these properties definitely don’t come cheap. But for luxury home buyers and sellers, this is just a glimpse into what the real estate market in the Lehigh Valley has to offer. Keep reading to see which homes topped the list this year. 1. The most expensive home that sold in the Lehigh Valley area in 2022 was a 9,353 square foot estate sitting on 6.8 acres that went for $7.1 million. House at 3347 Green Acres Dr., Bethlehe ..read more

Don Wenner founded Don Wenner Team with one simple concept: there’s more than one way to buy or sell a home. That’s why his team gives buyers and sellers options and lets them choose the path that best fits their current situation — so they can buy or sell their home, their way, on their terms. This innovative approach has enabled us to reach record-breaking numbers year after year. The Power of Experience Don Wenner founded Don Wenner Team with one simple concept: there’s more than one way to buy or sell a home. That’s why his team gives buyers and sellers options and lets them choose the ..read more

If you’re a renter, you likely face an important decision every year: renew your current lease, start a new one, or buy a home. This year is no different. But before you dive too deeply into your options, it helps to understand the true costs of renting moving forward. In the past year, both current renters and new renters have seen their rising rent prices based on information from realtor.com: “Three out of four renters (74.2%) who have moved in the past 12 months reported seeing their rent increase. The strain from recent rent hikes isn’t exclusive to renters who have recently moved ..read more