"The hardest part is waiting," as Tom Petty once sang. Was he talking about prospective homeowners? I'm not sure, but after years of hovering around the high sixes, sevens, and even briefly the eights, it's almost time for people who have patiently waited for mortgage rates to finally start declining. The Federal Reserve has cut the prime lending rate by a half point, and inflation has started to moderate.Almost all of the agents RISMedia contacted felt there are three primary reasons prospective homeowners should purchase now: No one knows for sure if/when rates will rise or fall. Buyers can always refinance. If rates do fall fast, competition for houses will skyrocket, along with prices. Start building equity now. Renting is money spent with no equity gain.   Though there's no assuran... 10/02/2024

This is  a common question that professional stagers answer on a daily basis. You can understand why the subject is brought up so often on the surface. There are plenty of arguments in favor of a property being staged before being made available for public inspection. Let's examine a handful of them.  Know Your BuyersIt is a fact that the buyers will decide whether or not you sell your house, when it will sell, and how much it will sell for. Although you may have aspirations, desires, and wishes, the customer ultimately has the final say. Experts in staging know which type of buyer is most likely to buy your property, and they will base their recommendations accordingly. Millennials are currently the largest generation purchasing real estate. While the younger members of this age group ... 09/25/2024

    Buyers still considering purchasing a home in 2024 should not worry! A new analysis from Realtor.com® indicates that the first week of October appears to be the greatest time to buy this year. According to Realtor.com's sixth annual Best Time to Buy report, the hottest week for home buying in 2024 will be from September 29 to October 5. This prediction is based on an analysis of several important metrics, including listing prices, inventory levels, new or "fresh" listings, time on market, demand from homebuyers (as measured by Realtor.com listing views), and price reductions.     In comparison to the summer's peak median cost home, purchasers might save over $14,000, according to the research, and there could be up to 37% more inventory available than there was at the beginning of t... 09/18/2024

If you're considering selling your home, you should be aware that there are purchasers willing and able to cover the high asking prices of today. However, they are looking for a move-in ready house. A recent Redfin press release explains:“Buyers are still out there and they’re willing to pay today’s high prices, but only if the house is in really good shape. They don’t want to spend extra money on paint or new appliances.”If you consider it, it makes sense. In the current housing market, they must pay a high price for a home. This implies that after they move in, they might find it difficult to afford improvements. Therefore, potential buyers may pass on your house or make a lower offer than you had hoped for if it is old or requires some renovation.  Furthermore, many houses currently ... 09/11/2024

  Finding your dream house may be an exhilarating as well as an intimidating process. While it's thrilling to think about moving to the ideal location to fulfill your aspirations and make memories, the process may also be stressful and difficult. However, you may ensure a seamless and pleasurable house search experience by being well-prepared and taking the appropriate approach. Here are some pointers to assist you locate your dream house (mostly) stress-free. 1. Decide on Your Needs and Wants Spend some time defining your exact criteria for a home before you begin viewing properties. Think about the features that are most important to you, as well as aspects like size, style, location, and amenities. Consider your current way of life and how it might evolve in the future. Does your fam... 09/04/2024

When buying your first property, you may encounter unfamiliar terminology and circumstances. While you may have a rough understanding of what an inspection is, you may be unsure of why you need one or how they differ from appraisals. To make things easy, here's an explanation of each one and what it means for you as a buyer.  Home InspectionOnce you've agreed to buy a home, getting an inspection is an important step in the process. An inspection is crucial for assessing the safety and overall condition of a house before making a significant (usually your largest) purchase. A recent Realtor.com post explains:“A home inspection is something that protects your financial interest in what will likely be the largest purchase you make in your life—one in which you need as much information as p... 08/28/2024

It is likely that you are considering a number of factors when determining if you are prepared to purchase a home. You're considering your financial situation as well as the current state of mortgage rates, house prices, and the number of available properties. You're also trying to balance how each of those factors will affect the decision you choose.Although the state of the housing market undoubtedly influences your choice, your financial situation and personal circumstances also contribute. According to a NerdWallet article:“Housing market trends give important context. But whether this is a good time to buy a house also depends on your financial situation, life goals and readiness to become a homeowner.”Concentrate on the things you can control rather than trying to time the market.... 08/21/2024

There is a shift occurring in the housing market. At the same time that the number of homes for sale is increasing, moderate buyer activity is being caused by higher mortgage rates.Furthermore, you might not be aware of that if you aren't working with an agent. This is the drawback. You cannot modify your expectations or plan to fit the current market if you lack knowledge. And that can result in several expensive errors.Here are a few of the more typical ones, along with tips from an agent to help you steer clear of them when you sell.  1. Pricing Your House Over Market ValueMany sellers set their asking prices excessively high, which is why there is an increase in homes with price reductions today. Unrealistic pricing will turn off potential buyers, produce an appraisal difficulty, or... 08/14/2024

When the time comes to move, making decisions about your home can be very important. Is it better to rent it out to generate long-term wealth or sell it and take the proceeds for your next trip?Many homeowners ask this question, and the response isn't always clear-cut. There are many factors to take into account, whether you're interested in the possible revenue from renting or concerned about the obligations of being a landlord.Let's go over some important questions to ask in order to help you decide which course of action is best for you.  The Rental Test: Is Your Home Suitable for Renting?Your current residence might not be suitable for rental purposes, even if you have aspirations of becoming a landlord. Perhaps the neighborhood isn't ideal for rentals, you're moving far away, makin... 08/07/2024

Relocating to your ideal house can be challenging. It may seem like you've lost your mind in a sea of bubble wrap as you unpack, clean, and search for that stray roll of toilet paper.For this reason, I wanted to give you a list of five easy things to do in your first month of moving into your new house. Although these chores might seem unimportant, they will actually improve your quality of sleep at night and help your new place feel more like your home than just a place to live. We were exhausted, overwhelmed, and unable to recall where we had put our 10-month-old son's sippy cups when we moved into our dream home. In addition, we didn't know where to start! We cleaned and unpacked, of course, but what comes next?This short list of tasks guides you through each one and explains why it ... 07/31/2024

Homeowners with pools frequently ask real estate agents how much they can add to the sale price and whether or not the costs of installing a pool can be covered by the proceeds from the sale of their property.In general, the answers are not what sellers want to hear, but they do depend on a number of factors, which we will address here. For buyers, though, they might be good news.  This is due to the fact that pools do not increase in value like homes do. Similar to a car, a pool loses value after it is used. If it were to be sold in a real estate transaction, a pool older than ten years would be nearly worthless.There are, of course, exceptions to this broad principle. Ten years later, the value of a well-built concrete pool made of premium materials in an upscale home that has been we... 07/24/2024

You're probably hearing a lot about mortgage rates right now. You may even see headlines discussing the recent Federal Reserve (Fed) meeting and what it means for interest rates. However, despite what the headlines may suggest, the Fed does not set mortgage rates.The truth is that a variety of factors influence mortgage rates, including geopolitical uncertainty, inflation, and the economy. It's difficult to predict when all of those elements will align enough for interest rates to fall.As a result, attempting to time the market is rarely worthwhile. There is simply too much going on that you have no control over. The best thing you can do is manage the variables that are under your control.And when it comes to prices, here's what you can do to make your relocation ambitions a reality.  ... 07/10/2024

For sellers, who continue to enjoy quick sales and bidding wars that are pushing up prices nationwide, the housing market is still hot. Even if it's the house of their dreams, there are still a lot of warning signs that could discourage buyers from making a purchase, regardless of how strong the market is.These are the worst offenders on the list so you can address serious issues in your house that could cause problems when it comes time to sell.1. Outdated HomesA fixer-upper may be welcomed by some buyers, but a major remodeling project is enough to turn off some buyers.Almost 2/3 of buyers stated they would postpone purchasing a home if it required renovation. If your house is dilapidated or has significant damage, potential buyers might be put off.According to Self Financial, the kit... 06/26/2024

To improve curb appeal, simply design a welcoming and eye-catching exterior for the home. Here are 10 curb appeal ideas and helpful tips that fit your budget, ranging from easy do-it-yourself projects to some requiring professional contractors. With the aid of these techniques, you can turn any property into the ideal residence for a buyer.   1. Repaint The Front DoorRepainting your front door to add a pop of color that draws attention from onlookers is one of the most cost-effective curb appeal ideas. Painting the window frames again can give them a fresher, cleaner look that complements a more polished exterior. (Studies show that black doors can bring $6000 more in value.) 2. New House NumbersNew house numbers are a great and reasonably priced way to improve the curb appeal of your h... 06/19/2024

If you're thinking about listing your home as a "For Sale by Owner" (FSBO) and selling it yourself, you should consider whether the additional stress is really worth it. By choosing this path, you will be taking on a great deal of responsibility all by yourself. If you are not an expert, this can lead to mistakes and quickly become too much to handle.According to a National Association of Realtors (NAR) report, price and paperwork were the two main areas where homeowners who sold their own homes had the greatest difficulty.  Pricing Your HomeIt's critical to price your home correctly when first listing your house for sale. Additionally, there are two typical problems that can arise when selling your home independently. It is possible that you are overpricing. Alternatively, you may not ... 06/12/2024

 The process of purchasing a home may seem overwhelming, especially if you're a first-time home buyer with no prior real estate experience. It's simple to feel overburdened by the amount of money needed for down payments, credit scores, interest rates, fixed- and adjustable-rate mortgages, property taxes, and closing costs. The stakes are really high when buying a first home!Nevertheless, knowing the basics of home buying beforehand will make navigating the real estate market easier for you. Now let's start discussing some important information for first-time home buyers!How can one purchase a home? To make your first home purchase, follow these guidelines.   Save Your MoneyStart saving a down payment, closing costs and moving expensesOne of the most crucial stages in making your first ... 06/05/2024

  In the current housing market, the quantity of properties available for purchase is crucial. And one of your biggest advantages right now, if you're debating whether or not to list your house, is the limited supply of homes available. This is because, in a low- inventory situation—especially if it's priced appropriately—your house will stand out more. However, there are more houses available for purchase. Recent data from Realtor.com indicates that the number of new listings—homeowners who have recently listed their property for sale—is increasing (see graph below):     Compared to the same period last year, this graph indicates that more homeowners are posting sale signs in their yards. According to Realtor.com: “. . . sellers turned out in higher numbers this March as newly listed h... 05/29/2024

You never think it will happen to you, but sometimes you have a listing or a home that just won’t sell. Or, your seller keeps asking, “Why is my house not selling?” and you want to share the reasons. Don’t worry. It happens to the best agents and great homes! The good thing is that there are many reasons why a house isn’t selling, and it isn’t always just an issue of price. So before you panic and massively reduce the price, read on to learn about some other challenges you may be facing with some easy fixes.1. Home FeaturesAccording to studies, about 60% of US owner-occupied homes were constructed prior to 1980. In certain states the average age of homes is even higher. Many of these older homes have features—like small bedrooms, no main bathroom, low ceilings, and one-car garages (that... 05/22/2024

Recent data from Fannie Mae reveals that nearly 25% of home buyers and sellers believe that home prices will decrease. If you find yourself among those concerned about this possibility, fear not! Let me shed some light on the situation.Much of this apprehension likely stems from the doom and gloom portrayed in the media and online. But here's the scoop - bad news sells. So, what you're consuming may not be the whole enchilada. You might just be getting the sensationalized version.As Jay Thompson, a Real Estate Industry Consultant, aptly puts it:“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 ... 05/15/2024

Numerous factors can cause property values to fluctuate, so it's critical for homeowners to be aware of those that could lower their home's value. While some of these factors—like interest rates, the state of the economy, and market conditions—are beyond your control, others are largely under your control. A home's property value can be adversely affected by certain projects, or lack thereof, ranging from ugly renovations to careless home maintenance. Knowing what depresses property value will help you safeguard your house and maximize your return on investment when the time comes to sell.   1) Home improvement projects done poorlyIn addition to making their space more comfortable and enjoyable, many homeowners undertake home improvement projects in an effort to increase the value of th... 05/08/2024