Americans can buy almost anything they want on their own with ease. All it takes is a few taps on a keyboard to add to cart. Yet there is still one purchase that’s so important and complex that a buyer should not go it alone: buying a home. In 2023, about 89% of homebuyers purchased their home using a real estate agent or broker, according to the National Association of Realtors®. And while a minority might choose to buy property without professional help, doing so can be a risky move for many reasons. Let’s face it: Buying a home is not like buying a blender. It will likely be the biggest pur ..read more

Q: What are some tips for first-time homebuyers in this spring’s busy housing market? Spring is the season of new beginnings. That’s appropriate as it’s also the kickoff to the busy housing market. Here’s what first-time buyers need to know to have the best chance of purchasing a home this season. 1. Be prepared for competition While homes aren’t selling as fast as they were during the peak of the COVID-19 pandemic, it’s still a seller’s market in most of the country. That means you’re likely to face heavy competition from fellow buyers, especially if you’re eyeing an affordably priced, move-i ..read more

Many young homebuyers grew up with the aspirational idea that their first property would be a starter home. Typically a small two-bedroom, one-bath single-family house, starter homes were a tried and true way for buyers to gain a foothold on the real estate ladder, which they would climb to ever larger and more expensive homes. While the promise of a sweet starter home on a cul-de-sac may linger as an initial dream home, today’s real estate market paints a much different reality. According to data from Realtor.com®, in February, home prices hit a median of $415,500 nationwide, mortgage rates r ..read more

This year’s housing market is off to a strong start. Sales of existing homes, which exclude new construction, jumped 9.5% from January to February, according to a recent report from the National Association of Realtors®. That was the largest month-over-month increase in a year. However, sales did dip a little annually, coming down 3.3% from February 2023. The surge in monthly closings is likely due to the drop in mortgage rates, which began declining last fall. This brought more buyers into the market and, importantly, might have persuaded more homeowners to sell their properties. As most sell ..read more

Mortgage rates fell this week as a rush of fresh listings hit the market. The average rate for a 30-year fixed home loan dropped from 6.87% to 6.79% for the week ending March 28, according to Freddie Mac. “Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Regardless, rates remain elevated near 7% as markets watch for signs of cooling inflation, hoping that rates will come down further.” Homebuyers intimidated by the ups and downs of mortgage rates do have some ..read more

Love is subjective and often irrational. So is buying a home. Sometimes, it’s the littlest thing that tips the scales, where one thinks—no, knows—that a particular property is the one. So lest you get too committed to your house-hunting checklist, we thought we’d share some surprise features that truly bowled over homebuyers, and made them realize without a doubt: “I’m home.” 1. A cappuccino station “As a coffee aficionado, I have spent an untold number of hours in business meetings or personal get-togethers sitting in a coffee shop enjoying a cappuccino. What a wonderful surprise when I was ..read more

For most of us, there’s an implicit understanding that buying a home will nearly drain your bank accounts. You’ll shell out for the down payment, the home inspection, and—just when you think you’re done—the closing costs. OK, you’re forking over a ton of cash upfront, but once you’re past that, you’re golden, right? You are—until you remember that you have to actually make payments on that mortgage you got. And the interest. For the next 30 years. And 30 years of paying 4% interest on your $200,000 mortgage can seem like indentured servitude—especially when you consider that those interest pay ..read more

A first-time homebuyer checklist can take a major weight off of your shoulders when you’re ready to buy your first home. It’s a big step—and one where it’s wise to know for sure you’ve got all your ducks in a row first. First-time homebuyer checklist To help you figure that out, here’s an all-in-one first-time homebuyer checklist with everything you should make sure you have covered before you set off on your hunt—or, if not, consider this a prime opportunity to get started. Step No. 1: Find a real estate agent Most rookie home buyers begin their house search online by browsing listings, says ..read more

Q: What are some tips for first-time homebuyers in this spring’s busy housing market? Spring is the season of new beginnings. That’s appropriate as it’s also the kickoff to the busy housing market. Here’s what first-time buyers need to know to have the best chance of purchasing a home this season. 1. Be prepared for competition While homes aren’t selling as fast as they were during the peak of the COVID-19 pandemic, it’s still a seller’s market in most of the country. That means you’re likely to face heavy competition from fellow buyers, especially if you’re eyeing an affordably priced, move-i ..read more

Mortgage rates fell this week as a rush of fresh listings hit the market. The average rate for a 30-year fixed home loan dropped from 6.87% to 6.79% for the week ending March 28, according to Freddie Mac. “Mortgage rates moved slightly lower this week, providing a bit more room in the budgets of some prospective homebuyers,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Regardless, rates remain elevated near 7% as markets watch for signs of cooling inflation, hoping that rates will come down further.” Homebuyers intimidated by the ups and downs of mortgage rates do have some ..read more