What experts are saying about home values during this market shift. With all the talk of uncertainty in this economy, many homeowners are worried that things are going downhill and home values are depreciating. If this is something you’re concerned about, I‘m sharing some information that I hope will give you peace of mind.  First, to define it, depreciation is something that declines in value over time. An example of this is your car—as soon as you drive it off the lot, your car’s value will consistently decrease. Historically, home prices appreciate (or increase in value) over time. If ..read more

How to respond when you receive random offers in texts or letters. Have you ever received a text, email, or letter, offering to buy your home? When this happens, you’re probably bewildered as to how you should react, especially when you didn’t list your home on the market in the first place. Are these offers even real, and what should you do about them? The short answer is yes, they’re likely real buyers, but most of them are investors. If you don’t have plans to sell your home, you can simply ignore them. However, if you are interested in selling, you can call us so we c ..read more

Why are home prices so high right now in our market? Interest rates are getting higher, and home values continue to climb. Why are prices so high?  Here are a few key factors you need to keep in mind. Supply and Demand.  As supply diminishes and demand stays the same or rises, prices rise accordingly. In one of the recent videos, I discussed how builders went out of business during the economic crash. I have also explained in another video why demand increased during the pandemic. However, aside from these, there is also a ..read more

How does pricing and a good marketing plan affect the selling price? Sellers always ask me, “How do you price your home?” No matter what the market is like, you should price your home based on the comparable sales around you. The reality is that the price you put on your home doesn’t decide what it sells for; it is actually the market that tells you what your home is actually worth.  In today’s seller’s market, you can’t underprice your home, you can only overprice. If you overprice your home and it doesn’t sell quickly, buyers start wondering what’s wrong with it. Again, you can ov ..read more

Here are three things buyers should consider before leaving the market.  If you’re a buyer in this market, you probably understand how difficult it can be to find a home. Supply is scarce, so buyers are forced to compete for what little inventory there is. Should you get out of the market and wait until conditions improve? Here are three reasons why you shouldn’t wait to buy: 1. Economists don’t expect home prices to fall anytime soon. Even if prices increase at a normal rate instead of the crazy pace we’ve seen recently, your next home will still be more expensive in 2023. The truth is ..read more

If you’re updating your home before selling, keep these tips in mind. Now that the weather is becoming nicer and we’re approaching the prime selling season, many homeowners are wondering what improvements they can make to their houses to increase their values. In other words, what are buyers looking for in the current market? Today I’ll share a couple of tips to remember as you’re renovating your property: 1. Kitchens and bathrooms. These areas are extremely important to buyers, so making improvements here will give you the biggest bang for your buck. Also, be mindful of whether or not you’re ..read more

These are the two biggest takeaways from a recent contractor conversation. With all the work we do in architecture and real estate, we get a close look at the home-construction industry. We had a really interesting conversation with a contractor recently, and I wanted to share the contents of that discussion with you today. We had asked him, “What does everyone need to know before they head into a new construction project right now?” He gave us two tips: 1. Prices for new homes have gone up 300% in the last year. 2. This is the worst subcontractor work he’s seen in 30 years. That doesn’t mean ..read more

Here’s what you need to know about rising interest rates and our market. Unless you’ve been living under a rock, you’ve probably heard about our rising interest rates. I’ve recently talked with a few clients who want to know more about what interest rates are and why they’re important, so today I want to explain what you need to know about rising rates.  Just like most things, there are positives and negatives to higher interest rates. Essentially, interest rates are the rate at which money is borrowed, so if you have money in the bank, higher rates mean you’re earning more interest. How ..read more

Why it’s not a great idea to tag along for the inspection as a seller. Why can’t you be at the inspection as a seller? When a buyer goes under contract, they have an opportunity to do an inspection. They’ll bring out someone to look at the home who can tell when something’s wrong. They’ll look at the pipes, the walls, etc. Sometimes, sellers want to tag along for this, but that’s not the best idea. When you’re in the middle of negotiations, you need to have an intermediary. That’s what agents are for! Buying a home is one of the top five most stressful things that happen in a person’s life. W ..read more

Let’s talk about two ways you can start to pay off your debt. When you get serious about buying a house, you start looking at your finances more closely. You’ll figure out how much debt and income you really have. You’re going to have a lender who will tell you whether you qualify or not. All of this leads up to a question I get a lot: “How do I reduce my debt?” The most basic answer is that you should reduce your spending and put that extra money toward paying down your debt. A lot of people talk about how to do this; I would highly recommend a Dave Ramsey course or book on this topic. Howev ..read more