Things To Avoid After Applying for a Home LoanOnce you've applied for a mortgage to buy a home, there are some key things to keep in mind. While its exciting to start thinking about moving in and decorating, be careful when it comes to making any big purchases. Here are a few things you may not realize you need to avoid after applying for your home loan.Don't Deposit Large Sums of Cash Lenders need to source your money, and cash isn't easily traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.Don't Make Any Large Purchases Its not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income... 06/28/2022

Homeownership Is a Great Hedge Against the Impact of Rising InflationIf you're following along with the news today, you've heard about rising inflation. Today, inflation is at a 40-year high. According to the National Association of Home Builders (NAHB):Consumer prices accelerated again in May as shelter, energy and food prices continued to surge at the fastest pace in decades. This marked the third straight month for inflation above an 8% rate and was the largest year-over-year gain since December 1981.With inflation rising, you're likely feeling it impact your day-to-day life as prices go up for gas, groceries, and more. These climbing consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they're still worthwhile.If you've ... 06/27/2022

Why an Agent Is Essential When Pricing Your House Some Highlights When it comes to pricing your house, there's a lot to consider. The only way to ensure you price it right is by partnering with a local real estate professional. To find the best price, your agent balances current market demand, the values of homes in your neighborhood, where prices are headed, and your homes condition. Don't pick just any price for your house. If you're ready to sell, lets connect to find the perfect price for your house.      06/25/2022

A Majority of Consumers Say Its a Good Time To Sell Your HouseIf you're a homeowner thinking about selling your house, you're probably looking for the best time to make your move. That means you're likely balancing a number of factors, like your changing needs, where you'll go when you sell, and todays mortgage rates in order to time it just right.According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is a good time to sell.The graph below shows the percentage of survey respondents who say its a good time to sell a house. The big dip in March and April of 2020 reflects how consumer sentiment dropped at the beginning of the pandemic as uncertainty about the health crisis grew. ... 06/22/2022

Why the Growing Number of Homes for Sale Is Good for Your Move UpAre you thinking about selling your current home? If so, the biggest question on your mind may be: if I sell now, where will I go? If this resonates with you, there's something you should know. The number of homes coming onto the market is increasing and that could make it easier for you to move up this summer.According to the latest data from realtor.com, the number of homes being listed for sale, known as new listings, has increased consistently this year (see graph below):While this news has clear benefits for buyers who are craving more options for their home search, what does that mean for current homeowners like you? It gives you two distinct opportunities in todays housing market.Opportunity #1: Take Advantage of Mo... 06/15/2022

What Are the Best Options for Todays First-Time Homebuyers?If you're looking to buy your first home, youre likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that doesnt mean you have to put your plans on hold.If you partner with a trusted real estate advisor and hone your strategy, you can navigate todays market and find the home you're looking for. Here are two tips to help you get started.Work with a Professional To Prioritize Your Wish ListIf you're having trouble finding a home in your budget that checks all the boxes, it may be worth taking another look at your lists of what you want and what you really need. According to the latest First-Time Homebuyer Metro Af... 06/14/2022

Luxury Homes Are in High DemandAs people realize their needs are changing, some are turning to luxury housing to find their dream home. Investopedia helps define what pushes a home into this category. In a recent article, they point out that a luxury home isn't only defined by its price. Location is also an important factor. It could be a condo at a desirable city address, a spacious home on the water, or one with access to luxury activities like arts and entertainment, high-end shopping and dining, and more. The home itself will also boast some of the finest features available.According to the Luxury Market Report from the Institute for Luxury Home Marketing, there's been a substantial increase in how many buyers are purchasing luxury homes over the past two years. It says:. . . North ... 06/13/2022

Carving Out Your Home Office SpaceWhen COVID-19 emerged, a lot of employers realized the advantage of allowing at least some employees to work from home. Not only can it act as a benefit for employees, but it can also help to reduce the cost of stocking and maintaining a physical office space. As a result, the number of people working in home offices has increased significantly over the last few years. This trend will likely continue as well, since companies are realizing that many employees like a work-from-home option and are actively seeking out WFH positions.While there are definite advantages to this, it does bring up one potential problem: If your home wasn’t designed with a home office in mind, where are you going to put it? While some people solve this problem by just sticking a... 06/12/2022

The Top Reasons To Own Your HomeSome Highlights June is National Homeownership Month, and its a great time to consider the benefits of owning your own home. If you're considering homeownership, know that it can give you privacy, comfort, and a place to express yourself. It can also provide financial stability and help you grow your net worth. Are you ready to experience all the great benefits that come from purchasing a home? Lets connect to begin the process today.      06/11/2022

What Does the Rest of the Year Hold for the Housing Market?If you're thinking of buying or selling a house, you're at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here's what experts have to say.The Number of Homes Available for Sale Is Likely To GrowThere are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:The gap between this years homes for sale and last years is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they've had... 06/10/2022

Why Home Loans Today Aren't What They Were in the PastIn todays housing market, many are beginning to wonder if were returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Lets ease those concerns.Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the Mortgage Credit Availability Index (MCAI). According to their website:The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.Basically, the index determines how easy it is to get a mortgage. The higher the index, the more available mortgage credit becomes. Here's a graph of the MCAI dating back to 2004, ... 06/08/2022

How Homeownership Impacts YouJune is National Homeownership Month, and its the perfect time to reflect on how impactful owning a home can truly be. When you purchase a house, it becomes more than just a space you occupy. Its your stake in the community, an investment, and a place you can put your stamp on.If you're thinking about buying a home this year, here are some of the benefits you’ll experience when you do.The Emotional Benefits of HomeownershipBecause its a place that’s uniquely yours, owning a home can give you a sense of pride and happiness in several ways.Your Home Can Reflect Your Tastes and PersonalityInvestopedia puts it like this:One often-cited benefit of homeownership is the knowledge that you own your little corner of the world.That knowledge can lead to a powerful, em... 06/07/2022

History Proves Recession Doesn't Equal a Housing Crisis Some Highlights Its important to understand history proves an economic slowdown does not equal a housing crisis. In 4 of the last 6 recessions, home prices actually appreciated. Home prices only fell twice minimally in the early 90s and then by nearly 20% during the housing crash in 2008. If you have questions, lets connect to discuss why todays housing market is nothing like 2008.     06/06/2022

Make Your Virtual Tour IrresistibleVirtual tours are all the rage these days, and for good reason. Not only do virtual tours make it easier for buyers to view homes they might be interested in at any time of the day or night, they’re safe, even when COVID cases are high. With a virtual tour, a home shopper can eliminate homes they definitely do not want to see, making the whole process a lot more efficient.As the seller of one of these homes, it’s extra important that your home is staged so that the virtual tour makes people want to come in and see more. This often goes well beyond what you’d need to do for a regular showing, since your goal is to mimic the feeling of what it’s like to be in your house. Don’t worry, we’ve got some tips to get you started!Declutter Like Your In-Laws Are ... 06/05/2022

Work With a Real Estate Professional if You Want the Best AdviceBecause buying or selling a home is such a big decision in our lives, the need for clear, trustworthy information and guidance is crucial. And while no one can give you perfect advice, when you align yourself with an expert, you'll get the best advice for your situation.An Expert Will Give You the Best Advice Possible Lets say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to their office, they wont immediately tell you how the case is going to end or how the judge or jury will rule. What a good attorney can do, though, is discuss the most effective strategies you can take. They may recommend one or two approaches they believe will work well for your case.Then, they'll... 06/04/2022

Sellers Have an Opportunity with Todays Home PricesAs mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here's the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate. The latest data on home prices seems to confirm that trend.According to data from CoreLogic, home price appreciation has been re-accelerating since November. The graph below shows this increase in home price appreciation in green:This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. The increas... 06/03/2022

How Buying or Selling a Home Benefits the Economy and Your CommunityIf you're thinking of buying or selling a home, chances are you're focusing on the many extraordinary ways itll change your life. But do you know it has a large impact on your community too?To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map below):You may be wondering: how can a single home sale h... 06/02/2022

Why Summer Is a Great Time To Buy a Vacation Home You may be someone who looks forward to summer each year because it gives you an opportunity to rest, unwind, and enjoy more quality time with your loved ones. Now that summer is just around the corner, its worthwhile to start thinking about your plans and where you want to spend your vacations this year. Here are a few reasons a vacation home could be right for you.Why You May Want To Consider a Vacation Home TodayOver the past two years, a lot has changed. You may be one of many people who now work from home and have added flexibility in where you live. You may also be someone who delayed trips for personal or health reasons. If either is true for you, there could be a unique opportunity to use the flexibility that comes with remote wo... 06/01/2022

Remember and Honor Those Who Gave AllRemember and Honor Those Who Gave AllWe remember and honor those who gave all.  05/30/2022

If You're a Homeowner, You Have Incredible Leverage When You Sell TodayIn todays housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. Thats because there's a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things: To be the winning bid on their dream home To buy before mortgage rates rise more To buy before home prices go even higher These buyer needs give you an amazing advantage also known as leverage when you sell.What Does This Mean for Sellers Today?You might already realize this enables you to sell at a good price, but you're also in a great position to get the best terms to suit your needs.According to the latest Realtors Confidence Index from... 05/30/2022