The housing market has been going through shifts lately. That’s why it’s so important to work with an industry professional who can be your guide throughout the process. Real estate expert uses their knowledge of what’s really happening with home prices, housing supply, expert projections, and more to give you the best advice. Someone who can provide clarity like that is critical right now. Jay Thompson, Real Estate Industry Consultant, explains: “Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry.  Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it .” Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Co-Founder and Chief Data Officer at  Parcl , says: “In the absence of trustworthy...

After steadily falling over the winter, mortgage rates have risen in recent weeks. This concerns some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you’re planning to purchase a home this year, you too may wonder if now’s the right time to buy or if you should hold off on your search until rates come back down. The recent uptick in rates has been driven by what’s happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the  Mortgage Bankers Association  (MBA), explains: “Mortgage rates increased across the board last week, pushed higher by market expectations that  inflation will persist, thus requiring the Federal Reserve to keep monetary policy restrictive for a longer time.” The most recent weekly average 30-year fixed mortgage rate reported by  Freddie Mac  is 6.5%. It’s the third week in a row that rates have increased and puts ...

Are you planning to buy a home this spring? Though things are more balanced than they were at the height of the pandemic, it’s still a sellers’ market. So, when you find the home you want to buy, remember these four tips to make your best offer. 1. Lean on a Real Estate Professional Rely on an agent who can support your goals. As  Bankrate  notes: “. . . select the best real estate agent for your needs. They will be a critical part of your home buying process.” Agents are local market experts. They know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out. 2. Know Your Budget Understanding your budget is especially important right now. As Sandy Higgins, Senior Wealth Advisor at  Capstone Financial Advisors , puts it: “Understand your current budget … what are your expenses, how’s your spending, would you need to make change...

A lot has changed over the past year, and you might be wondering what’s in store for the spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind. 1. Houses That Are Priced Right Are Still Selling Houses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at  Zillow , says: “. . . sellers who price and market there home competitively shouldn’t have a problem finding a buyer.” The need to price your house right is so important today because the market has changed so much over the past year. Danielle Hale, Chief Economist at  realtor.com , explains: “With a smaller pool of buyers today and more competition from other homes on the market, homesellers will likely need to adjust there price expectations in the market this spring.” While this spring housing market is different than last year’s, sellers with proper expectations...

You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on. A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, the methodology behind one of those reports says that renting is the smarter financial option because of the opportunity to invest money elsewhere. It assumes renters take the money they’d spend on costs tied to buying a home and put it in an investment portfolio. But here’s the thing –  most people who rent aren’t making those investments . Ken Johnson, Co-Author of the  BH&J National Price-to-Rent Index , explains: “One of the difficulties with the rent and reinvest model is many people . . . simply rent and spend the difference. . . .  That’s wealth destroying .” The reason homeownership is one of the best investments you can make i...

Today’s homeowners are sitting on significant equity, even as home price appreciation has eased recently. If you’re a homeowner, your net worth got a boost over the past few years thanks to rising home prices. Here’s what it means for you, even as the market moderates. How Equity Has Grown in Recent Years   Because of the imbalance between how many homes were for sale and the number of homebuyers in the market over the past few years, home prices appreciated substantially. And while price appreciation has slowed this year, that doesn’t mean you’ve lost all the equity in your home. In fact, the latest  Homeowner Equity Insights  report from  CoreLogic  finds  the average homeowner’s equity has grown by $34,300 over the past year alone . And if you’ve been in your home longer than that, chances are you have even more equity than you realize. While that’s the national number, if you want to know what happened in your area, look at the ...

If you’re thinking of selling your house, it is important to work with someone who understands how the market is changing and what it means for you. Here are five reasons working with a professional can ensure you’ll get the most out of your sale. 1. They’re Experts on Market Trends With today’s housing market defined by change, it’s critical to work with someone who knows the latest infrmation and how it impacts your goals. An expert real estate advisor knows about national trends and your local area too. More importantly, they’ll give insight into what all of this means for you, so they’ll be able to help you make a decision based on trustworthy, data-bound information. 2. A Local Professional Knows How To Set the Right Price for Your Home Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your home ...

Here are many reasons to buy a home that it’s a major way to build wealth and gain financial stability. According to Freddie Mac : “Building equity through your monthly principal payments and appreciation is a critical part of homeownership that can help you create financial stability.” With spring approaching, now’s a great time to consider if buying a home makes sense for you. The best way to figure that out is to talk with a trusted real estate professional. The Largest Part of Most Homeowners’ Net Worth Is Their Equity You may be surprised to learn just how much of a homeowner’s net worth actually comes from owning their home. The  National Association of Realtors  (NAR) shares: “ Homeownership is the largest source of wealth among families, with the median value of a primary residence worth about ten times the median value of financial assets held by families.  Housing wealth (home equity or net worth) gains are built up through price appreciation...