When planning a move, it’s normal to wonder where you’ll end up and what your future home will look like. Maybe you’ve got a specific picture of that house in your mind. But unless you came into this process knowing you want to buy a newly built home, you may not have pictured new home construction. A trusted real estate agent can help walk you through these reasons you may want to reconsider. 1. Adding Newly Built Homes Could Give You More Options There are two types of homes on the market: new and existing. A newly built home refers to a house that was just built or is u ..read more

If you’re thinking of buying or selling a house in Chicago, Illinois, it’s important to know it doesn’t just impact you—it helps out the local economy and your community, too. Every year, the National Association of Realtors (NAR) puts out a report that breaks down the financial impact that comes from people buying and selling homes (see visual below): When a house is sold, it boosts the local economy. That’s because of all the people needed to build, fix up, and sell homes. Robert Dietz, Chief Economist at the National Association o ..read more

If you’re a member of a younger generation, like Gen Z, you may be asking the question: will I ever be able to buy a home? And chances are, you’re worried that will not be in the cards with inflation, rising home prices, mortgage rates, and more seemingly stacked against you. While this housing market is certainly challenging for first-time homebuyers, it is still achievable, especially if you have professionals on your side. Here are some helpful tips you may get from a pro. 1. Explore Your Options for a Down Payment If a down payment is your #1 hurdle, you may have option ..read more

Thinking about selling your house this year? As you decide, consider what’s pushing you to think about moving. A recent survey from Realtor.com looked into why people want to sell their homes this year. Here are the top two reasons (see graphic below): Let’s look closer and see if they’re also motivating you to make a change. 1. To Make a Profit If you’re thinking about selling your house, you probably have a lot of questions on your mind. Well, here’s some good news – the latest data shows most sellers get a great return on their investment when they sell. ATTOM, a p ..read more

You may have heard mortgage rates will stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead. Economic Factors That Impact Mortgage Rates When it comes to mortgage rates, the job market, the pace of inflation, consumer spending, geopolitical uncertainty, and more all impact them. Another factor is the Federal Reserve (the Fed) and its decisions on monetary policy. And that’s what you may be hearing a lot about right n ..read more

Thinking about buying a home in your area? While today’s mortgage rates might seem intimidating, here are two solid reasons why, if you’re ready and able, it could still be a smart move to get your place. 1. Home Values Typically Go Up Over Time There’s been some confusion over the past year or so about which way home prices are headed. Make no mistake, nationally, they’re still going up. In fact, over the long term, home prices almost always go up (see graph below): Using data from the Federal Reserve (the Fed), you can see the overall trend is home prices ..read more

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right. But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below): This graph shows more homeowners are putting that sale s ..read more

Are you thinking about selling your house? If so, you might be weighing factors like today’s mortgage rates and changing needs to determine your next move. Here’s something else to consider. According to the latest Home Purchase Sentiment Index (HPSI) from Fannie Mae, the percentage of respondents who say it’s a good time to sell is on the rise (see graph below): Why Are Sellers Feeling so Optimistic? One reason is because right now is traditionally the best time of year to sell a house. A recent article from Bankrate says: “Late spring and e ..read more

If you’ve been keeping up with the news lately, you’ve probably come across some articles saying the number of foreclosures in today’s housing market is going up. And that may leave you feeling a bit worried about what’s ahead, especially if you owned a home during the housing crash in 2008. The reality is, while increasing, the data shows a foreclosure crisis is not where the market is headed. Here’s the latest information stacked against the historical data to put your mind at ease. The Headlines Make the Increase Sound Dramatic – But It’s Not The increase the media is ca ..read more

If you’re considering buying a home, chances are you’ve got mortgage rates on your mind. You’ve heard about how they impact how much you can afford in your monthly mortgage payment, and you want to make sure you’re factoring that in as you plan your move. The problem is, with all the headlines in the news about rates lately, it can be a bit overwhelming to sort through. Here’s a quick rundown of what you really need to know. The Latest on Mortgage Rates Rates have been volatile – that means they’re bouncing around a bit. And, you may be wondering, why? The answer is co ..read more