Understanding what closing costs include is important, but knowing what you’ll need to budget to cover them is critical, too. Did you know that closing costs typically vary between 2% and 5% of your home's total purchase price? Imagine finding your dream home at the median price of $366,900 – according to Freddie Mac estimates, your closing fees could range from approximately $7,500 to $18,500.  But wait, there's more! Whether your desired home is above or below this price range, your closing costs will adjust accordingly, so it's essential to be in the know.  Ready to navigate the w ..read more

➡️ financial Stability: it is very helpful to have a stable income and a good credit score to qualify for most mortgages and to have the best financing terms  ➡️  Pre Approval : Pre approval - Being proactive will make you win and win big, obtaining pre approval will not only give you an idea how much you can borrow but will also give you the piece of mind of how much you can afford on your monthly payments ➡️  sufficient down payment : Sufficient down payment- The down payment is the amount that you will be paying towards your purchase price, depending on you fin ..read more

Whether you're buying or selling a home this year, understanding the current market and  setting clear goals is crucial. Let's dive into how you can make informed decisions and achieve your homeownership dreams in 2024 First you need to be Understanding of the Market The economy has significantly influenced the housing market. It's vital to grasp the market's current state and what you seek from it, focus on your immediate and future needs to make a sound financial decision when buying a home. Next You want to Identify Your Motivation What's driving your desire to move? Whether it's ..read more

If you're contemplating a move in the real estate market in 2024, you're likely eager to understand the dynamics that will shape the landscape. Today I want to provide you with insights from my perspective. Let's start with mortgage rates—there's a positive trend emerging. Recently, rates have begun to decrease, offering a glimmer of hope for those grappling with affordability concerns. Drawing from analysis,  the potential for further decreases, as mortgage rates have already pulled back from recent peaks near 8 percent. Jessica Lautz, Deputy Chief Economist at the National Association o ..read more

The Perfect Home Could Be the One You Perfect After Buying There’s no denying mortgage rates and home prices are higher now than they were last year and that’s impacting what you can afford. At the same time, there are still fewer homes available for sale than the norm. These  are two of the biggest hurdles buyers are facing today. But there are ways to overcome these things and still make your dream of homeownership a reality.   As you set out to make a purchase this season, you’ll want to be strategic. This includes taking ..read more

Moving this Holiday? Are you considering a move this holiday season? Well, If you are it's crucial to stay informed about the current state of the housing market.  Hello This is Rima Rafeh with the Rafeh Group  And....Here's the latest update on the availability of homes for sale. Whether you're in the market to buy or sell, supply and demand of homes in your local area should be on your radar. It's the season to  observe recurring trends known as seasonality.  Spring emerges as the peak seaon for homebuyers, with a surge in new listings. This is when the market experi ..read more

Home Prices: Unveiling the Truth! Analyzing Y-O-Y vs. M-O-M Trends for Accurate Market Insights ?? Hello This is Rima Rafeh with eXp Realty The media often presents conflicting information about home prices, leaving us confused. Understanding the different data methods can help clarify the situation: ? Year-over-Year (Y-O-Y): Y-O-Y compares home prices from the same month or quarter in the previous year. It provides a comprehensive view of long-term trends and annual growth rates. For example, comparing April  2023 prices to April 2022 prices. ? Month-over-Month (M-O-M): M-O-M compares ho ..read more

The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities. Selling in the winter can give you a few advantages. There will be fewer h ..read more

Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family. Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mort ..read more

It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market. It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home ..read more