It may not feel or look like spring in many areas yet, but as of Monday March 20th, it’s here! So does that mean the spring real estate market officially begins that day as well? Or does it kick off the weekend before or the weekend after since the first day of spring falls on a weekday? None of the above actually.In fact, the spring market has already begun! Many people in the industry consider January to be the start of the spring real estate market. At least that’s when buyers who plan on buying in the spring often begin their search, and some even end up buying before spring arrives.But there is truly a seasonal uptick when more sellers tend to list their houses, and more buyers are actively out looking in most areas. But when that officially begins depends on where you’re looking t... 03/15/2023

Years ago it was common for children to move out and get a place of their own right after they turned 18, or maybe around 22 if they went to college. But times (and costs) have certainly changed over the years, making it difficult for young adults to move out and get a place of their own. So, most people would agree that young adults can probably use all the time and help they can get from their parents for as long as possible nowadays.Rents and house prices aren’t cheap. Then of course there’s the price of food and utilities every month. And if they went to college, they probably have loans they need to pay off… which is why so many young adults live at home for a lot longer than people used to.But at some point, they have to move out and get a place of their own. And doing that is dif... 03/11/2023

No matter how much buying a house makes sense for your long-term financial well-being, buying your first house can often just seem expensive and totally out of reach. That leads to many younger people putting off buying a home until later in life than they might have, if the costs were lower.But there are plenty of younger people buying homes. Nearly 40% of people under 35 own a home, so it’s by no means impossible or entirely unaffordable.  Homeownership Stats by AgeInfogram As you can see in the graph above, the homeownership rate goes up to just over 60% for those between the ages of 35-44, which is about where the homeownership rate is for the entire US, regardless of age.Interestingly, if you look at the chart below, the homeownership rate has actually hovered between 62 and 68 per... 02/28/2023

According to a recent poll, more than a third of Americans who’ve ever owned a home received financial help from their parents to purchase it, but that number is even higher (at 79%) for younger buyers today. So the chances are, if you have a Boomer dad, he’s going to be chipping in some money—and probably his two cents along with it—when you buy a house.Getting some dough from dad is a double-edged sword. As much as the money is welcome, it often comes with some invisible strings that give him the right to have a say in your home search, which house you buy, and how much you should offer to pay for it.It’s not just dads; you can add moms to the list, too. Many parents have a tendency to want some say in their child’s home purchase, especially when they’re chipping in to help make it po... 02/25/2023

If you’re a renter and live alone, it’s no surprise that it costs you more than if you had a significant other, or at least a roommate, to help pay the rent. But have you ever done the math on exactly how much extra it costs you?According to this Business Insider article, it costs a single person an average of $7,000 more in rent per year than people with a partner or roommate.The obvious solution to avoid this “singles tax” is to find yourself a significant other, or a roomie. But if you live alone, there’s probably a reason why you haven’t already gone either of those routes, like: If you don’t have a partner, finding a significant other isn’t something you can always just snap your fingers and make happen. Even if you could, rushing into a relationship to save on rent probably isn’t ... 02/25/2023

If you currently own a home and want to buy a new property, the chances are you’re going to have to navigate selling your current home and buying your new home at the same time.But what, exactly, does that look like? What do you need to know to successfully buy and sell property simultaneously?A recent video from realtor.com outlined a few key factors to consider when buying and selling a home at the same time, including: You probably have money to work with. If you’ve owned your home for more than a few years, there’s a solid chance that you’ve gained equity in the property. That equity can help to fund your new home purchase—either by acting as a down payment to pair with your new mortgage or, if you’re downsizing and have a lot of equity, to help you come in with an all-cash offer on... 02/22/2023

You certainly don’t have to take classes or pass an exam if you want to sell your house. All you have to do is hire a great real estate agent who had to do both of those things in order to help you sell your house quickly and for the most money possible.Even if you took the same classes and tests your agent took to become an agent, it’d be difficult for you to know everything you need to know. Much of the insight and knowledge that makes your agent so effective at getting you the best results comes from experience actually selling houses, not from real estate school.However, the more you know and understand about the best decisions ahead of time, the better off you’ll be. So here’s a quick quiz to help you see what decisions you’d get right, and learn from the ones you get wrong so you ... 02/17/2023

You have to go to school and pass a real estate exam in order to become a real estate agent to help people buy a house, but you don’t need to do either of those things as a home buyer. All you have to do is rely on the knowledge and experience of your agent, and you’ll be fine.However, your agent can be a lot more effective and help you get better results if you know a few things ahead of time! Some of the “right” things you should do are probably different than what you might think is the “right” thing to do.Here’s a quick quiz to see how savvy you are without even going to real estate school or spending years in the field! The answers will be at the bottom…but no peeking!(Don’t sweat it if you get some answers wrong on this quiz; even getting an answer wrong will teach you something. ... 02/15/2023

When you decide to sell your house, you’ll often hear real estate agents say that they’ll get your house sold quickly and for top dollar.Who wouldn’t like that?! Everybody wants as much money as they can possibly get, and most people would prefer not to have buyers coming to see their house for months on end, so, the quicker the better.But what defines quick? Well, there’s no absolute definition and it depends upon a few factors. It can mean a few days, weeks, or even months, depending upon how the market is in your area, the price range of your home, and the choices you make as a seller.Over the past couple of years, it probably seemed like every house was selling within a few days of being listed for sale. While many houses were selling that quickly, not all of them were. In fact, acc... 02/08/2023

For many, hearing the phrase “home projects” brings to mind lengthy, stressful, and expensive home renovations.But not every project is a major undertaking; there are plenty of small (and totally doable!) projects that can have a big impact on your home, with minimal time, effort, and/or budget required.So what, exactly, are some of those projects?A recent article from realtor.com outlined manageable (and affordable!) home projects homeowners should consider tackling to breathe new life into their space, including: Create a workstation. If you’re working from home, but using your dining room table as your desk, it’s time to create a more permanent solution. Find a space in your home (for example, a guest room, quiet corner of the living room, or even a closet!) and turn it into your per... 02/01/2023

According to the latest S&P Case-Shiller Home Price Index, home prices continue to slow, though they remain 7.7 percent above year-before levels.The S&P Case-Shiller Home Price Index is among the most closely watched measures of U.S. home prices. The index, which tracks both monthly and annual changes in home values, has been collecting data for nearly 30 years. According to the most recent release, home prices continue to slow in metro areas across the country. Craig J. Lazzara, managing director at S&P, says November marked five consecutive month-over-month declines. “November 2022 marked the fifth consecutive month of declining home prices in the U.S.,” Lazzara said. “ These declines, of course, came after very strong price increases in late 2021 and the first half of 2022. Despite i... 02/01/2023

Oh no, the real estate market’s shifting! Is it a “bubble” about to pop? Will prices come crashing down? How much higher will mortgage rates go? Will they come down again? Is it a buyers’ market, or are sellers still in the driver seat?All of that may sound custom tailored to the current market, but those are concerns homeowners, buyers, and agents alike all ponder on a recurring basis. The real estate market is constantly changing, and every few years it goes through a fairly significant shift.Successful agents who stand the test of time don’t rely on a “hot” market or favorable headlines about real estate. They know times can get tough, and the market is never absolutely ideal for every potential buyer, seller, or homeowner. But it’s always a good market for some people to buy or sell... 01/27/2023

If you’re a renter, you’re probably well aware that rents went up more than 20% over the past few years, but your income most likely didn’t increase by nearly as much. So this realtor.com article probably sounds like promising news when the headline claims that rent prices are finally falling in some areas.However, the article actually says that economists are predicting rental prices to keep increasing in the coming year. When they say “falling” they’re referring to the fact that they just won’t be increasing as much per year as they have been over the past few years.Considering home prices are reportedly coming down for the first time in a number of years, it might not seem fair that rents don’t as well.Unfortunately, it doesn’t typically work that way. While home values fluctuate up ... 01/18/2023

People were flocking to buy a house when it was possibly one of the most difficult times in history to do so. Sure, interest rates were super low, but that’s about the only thing buyers had in their favor.Competition was fierce, since there were so many buyers and not enough houses to satisfy demand, making it almost impossible to get your offer accepted. Prices were going higher and higher. And if you even wanted your offer to get a second glance, you pretty much had to give up your rights to typical inspections. Forget about asking for any concessions from a seller! Yet buyers were still lining up (literally) to buy houses.Then mortgage rates went up, and many buyers felt like it was an awful time to buy a house. Consumer confidence plummeted to a low of 16% back in October and Novemb... 01/13/2023

People have a lot of preconceived ideas about what it means to buy a new construction home, and whether buying a new construction home is a good investment.But the problem is, many of those preconceived ideas simply aren’t true, and those myths are holding back buyers from exploring buying new construction, even if it might be the best move for their home purchase.So what, exactly, are those preconceived ideas—and why are they not true? A recent article from realtor.com debunked common myths about buying new-construction homes, including: New construction homes are more expensive. Will new construction homes have a higher price tag than previously owned homes? Most likely. But because everything in a new construction home is new (like the roof, appliances, HVAC equipment, and other majo... 01/10/2023

It’s natural for people to be concerned that they’re buying a house when prices are at their peak, and people worry about that in almost any market. So when you start hearing news about the market shifting, and home prices coming down, you might wonder if your house is worth less than you paid for it (if you bought it in the past couple of years).It can (and does) happen. Real estate values aren’t on a constant upward trend; they do take a dip here and there. But overall, the value of your house will appreciate over the years, despite some dips. So, unless you have to sell when prices are lower than you paid for your house, you can always just wait for the market to bounce back before selling.The good news is that while prices have been adjusting down in some areas, they haven’t been fa... 01/04/2023

If you’ve been thinking about selling soon, you’re probably leaning toward doing so when the spring market rolls around, since it’s often considered the best time of year to sell a house. However, you might want to reconsider what constitutes the “best” time for you to sell your house.It’s hard to qualify any specific time of year as the best time to sell, but spring probably gets ranked highest more so because it’s when more people tend to list their homes, and more buyers tend to look for a home. But that doesn’t mean it’s the most strategic time to sell yours.In fact, listing your house well ahead of the official start to the spring market could be the most strategic thing you do in any market, but even more so given the current market conditions. Let’s take a look at 8 reasons you s... 12/27/2022

You want to get the best price for your house – and you want it to happen fast! But the competition out there can be stiff…especially if there are lots of great properties for sale in your area that don’t have bad smells. So how do you give your home the edge?When it comes to selling your home, you’ve got to think beyond how pretty it looks, how nice the shrubs are outside, and whether the paint color on the front door is a turn on, or a turn off.It’s no secret that you’ve got to appeal to their sense of sight – after all, we perceive up to 80% of our information through vision.If you want to sell your home fast (and at the best possible price, of course), you also need to pay attention to is smell.It’s true… stinky homes sell slowly. Sweet-smelling homes are much more desirable!Even th... 12/06/2022

It was a great year in the local Oakland County, Michigan real estate market for home sellers but home buyers had a different experience when purchasing a new home with many paying thousands over asking, forgoing inspections and contingencies of all kinds to nail down the perfect home. Forward to todays housing market with rising interest rates, a slowing economy and the uncertainty of the housing market shows that the homebuyer and seller advantages are at a stalemate favoring neither at this time, bringing in the new year with more uncertainty of which side will be on top for the spring market in the new year.Buyers and Sellers AnalysisA new analysis finds the national housing market favors neither buyers or sellers right now. It's the first time the market has been in neutral territo... 12/05/2022

When you’re in the market to buy a house, of course you want to find a great deal, but it probably seems like most houses are priced higher than they’re worth. That happens a lot; many homeowners initially list their house for more than they should. And sometimes they get it!In the past few years, when the rates were super low, and there were more buyers clamoring for a house than there were houses for sale, sellers could get away with listing their house a little on the higher side.But, as the market shifts, you have more breathing room to look for and find a deal. If only there was a sign that the owner was negotiable…Well, there is—a price reduction! And apparently, the best day to look for price reductions is on Thursdays, according to this Lifehacker article. Research shows that 18... 11/30/2022