Buying a home can be intimidating, especially in today’s atypical market. With a few homes for sale, bidding wars have become common, driving home prices as buyers fiercely compete for available properties. Navigating this can be daunting if you’re trying to do it alone. That’s why having a skilled expert to guide you through homebuying… [Read More]
Leverage Home Equity Now
Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time: “Housing wealth… [Read More]
Factors Affecting Home Affordability
The attention has been on the impact of rising mortgage rates on home affordability for current homebuyers. Rates have escalated significantly compared to the record lows experienced during the pandemic. Nonetheless, affordability depends not only on mortgage rates but also on a blend of mortgage rates, home prices, and wages. Considering how each of these… [Read More]
The Power of Pre-Approval
If you’re buying a home this spring, today’s housing market can be challenging. With so few houses on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go… [Read More]
Reconsider Waiting for Lower Prices
Are you looking to buy a home but holding off until prices drop significantly? You may want to reconsider. While home prices have come down a bit since peaking last June, recent data suggests they have already bottomed out and are now on the rise again. Waiting for a significant price drop may not be… [Read More]
Tax Refund for Homebuying Goals
Are you planning to purchase a home this year and have been diligently saving for it? You are probably aware of the numerous expenses that come with it, including the down payment and closing costs. However, the good news is that your tax refund can serve as financial aid toward achieving your goals by covering… [Read More]
Trying To Buy a Home? Hang in There.
We’re still in a sellers’ market. And if you’re looking to buy a home, you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind; there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here… [Read More]
Why Buying a Home Is a Sound Decision
If you’re considering buying a home, you want to know if the decision will be good. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. However, as the year goes on, some… [Read More]
What Buyers Need to Know in 2023
Last year, the Federal Reserve attempted to decrease inflation, but it resulted in a rapid increase in mortgage rates from record lows in 2021, peaking at just over 7% in October. This caused some potential buyers to pause their plans. However, the inflation rate is starting to decrease, leading to a drop in mortgage rates… [Read More]
Is Now a Good Time to Sell Your House?
As mortgage rates rose last year, the housing market experienced a slowdown, resulting in fewer home offers and longer selling periods. Unfortunately, this caused many homeowners to put their selling plans on hold. Fortunately, rates are declining, and buyers are re-entering the market. Recent data from the Mortgage Bankers Association (MBA) indicates that mortgage applications… [Read More]