While the housing market traditionally heats up with the weather, buyers are looking year-round. If you’re thinking about selling your home, here are a few reasons why now is a great time to get it on the market. Appreciation. Your home’s value is based on the market, not the season. In the last few years, home values have increased by more than 20% in some areas, creating a significant profit for homeowners when selling. Motivated buyers. Spring and summer are generally considered the “peak seasons” for real estate, but prospective home buyers that start shopping in January are serious, motiv ..read more

Everything in the economy is cyclical and real estate is no exception. After a few robust years, 2022 brought the housing market to more normal (pre-Covid) levels, which we expect to continue in 2023. Here are a few more of the trends that my team at Long & Foster Real Estate and I expect to occur next year.   Home inventory will continue to be scarce but grow. The lack of listings has been severe for more than five years. Although real estate is hyper-local, demand is expected to wane in 2023, causing inventory—that is, the number of homes for sale—to expand because with fewer people ..read more

  It’s hard to believe that we’re more than three quarters into 2022 and will soon ring in a new year. After a few years of a hot real estate market, you may wonder what’s happening now – especially if you’re planning to buy or sell a home in the next few months. In 2020 and 2021, low interest rates, remote working opportunities facilitated by the pandemic, and low housing inventory created the perfect storm of buyers flooding to the market to purchase a home. Homes were selling quickly and for more than asking price. Recently, though, interest rates have started to rise and that has caus ..read more

October has arrived, bringing with it crisp, cooler air, colorful foliage and sightings of pumpkins and mums on porches. Preparing your home now for the colder months ahead will help prevent costly repairs later and keep your home running in good condition all winter. We’ve put together a few tips to make your home a warm, safe and comfortable place to enjoy with friends and family. It’s also a good idea to keep a record of your home maintenance routine for your own use or to pass to the next owner of your home should you sell it. Turn off exterior faucets. Drain the water from your outdoor fa ..read more

Choosing to become a homeowner is generally one of the biggest decisions of your life. It’s a financial and emotional decision that must be made based on your individual circumstances. But if sky-high rent increases have you leaning toward the security of owning your home, here’s why it’s a good time to buy. What’s Happening in the Rental Market? Rental costs have grown at their fastest pace in more than three decades. The national median cost of a monthly rental is now over $2,000 for the first time ever. Rent has increased over 30% in some of the major cities and are expected to continue to ..read more

About 15 years ago, we experienced a housing crisis. Unfortunately, at that time, many Americans lost their homes and real estate investments. Although our current market is shifting, homeowners need not worry that history will repeat itself. The factors affecting today’s housing market are vastly different than they were in the mid to late 2000s. The 2008 Housing Crisis – What Happened? Relaxed lending standards caused high buyer demand but led to an inability to repay mortgage loans as many obtained loans that would not qualify under today’s lending standards. Homes fell into foreclosure whe ..read more

There’s been so much news lately relating to the economy and real estate. If you’re planning to buy or sell a home soon, you may be wondering what it means for you. The housing market, which received a boost from record low interest rates during the Covid-19 pandemic, has begun to shift. The Arrival of a More Balanced Market With mortgage interest rates and home prices on the rise, we expect the housing market will continue to cool from the surge in demand we’ve seen the last few years. As a bright spot for frustrated homebuyers, the number of homes on the market is expected to increase, bring ..read more

Before selling your home, it’s hard to know what improvements you can do now that will add value to it – without spending a fortune. To help, each year Remodeling magazine releases their Cost vs. Value Report, which estimates the average cost of a project and the percentage of the investment that will be recouped if the home is sold within a year. Based on the 2022 report, here are the top four home improvement projects with the highest return at resale. Garage Door Replacement: Traditionally ranked as one of the highest returns on your investment, the average cost is $4,041 and you’ll recover ..read more

With the recent stock market volatility, inflation and all that’s going on in the world, you may be looking for opportunities to diversify and protect your investment portfolio. Over the long term, real estate provides steady appreciation and is usually an excellent investment response to inflation. Savvy consumers are becoming increasingly interested in owning property to get the many benefits that help offset stock market volatility and inflation. Even with the recent uptick of mortgage interest rates, real estate is still considered a safe haven to add to one’s investment mix. Here’s a look ..read more

Spring Home Maintenance Tips March is here, bringing rising temperatures, longer days, and the first signs of spring. Before the arrival of April showers, it’s a good time to get started on some spring maintenance tasks to shed the winter layers and give your home a fresh new start. Groom your lawn. Get ready to mow by picking up debris that accumulated on your lawn over the winter. Fill bare spots with grass seed and fertilizer. Clear gutters and downspouts. Prevent damage from spring rains by clearing out debris. Make sure water is diverted away from the home to protect its foundation. Resea ..read more