Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to consider the long-term benefits of homeownership when deciding. Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’ll Continue Reading
Selling your house is no simple task. While some homeowners opt to sell their homes on their own, known as an FSBO (For Sale by Owner), they often encounter various challenges without the guidance of a real estate agent. If you’re considering selling your house alone, here’s what you should know. The most recent Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) Continue Reading
Some Highlights Are you wondering if it makes sense to buy a home today, even when inflation is high? When other costs increase due to inflation, buying a home helps you keep your monthly housing expense steady. Rents typically increase with inflation. Maybe that’s why, according to a recent survey, 65.1% of landlords say they plan to raise the rent of at least one of their properties Continue Reading
Credit Score knowledge is essential if planning on purchasing a home. Knowing your credit score’s a critical piece of the puzzle when qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from Bankrate explains: “Your credit score is one of Continue Reading
Are you planning to sell your house? If so, you may be surprised to hear how much buyers value energy efficiency and eco-friendly features today. This is especially true as summer officially kicks off. The 2023 Realtors and Sustainability Report from the National Association of Realtors (NAR) shows 48% of agents or brokers have noticed consumers are interested in sustainability. So, Continue Reading
The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week. This monthly report provides information on the sales volume and price trend for previously owned homes. In the upcoming release, it’ll likely say home prices are down. This may feel confusing, especially if you’ve been following along and seeing the blogs saying that home prices Continue Reading
Downpayment advice when purchasing a home is everywhere, but not necessarily correct. If you plan to buy your first home, you're probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% Continue Reading
Key Takeaways Wealth creation occurs over time when you own a home. Your net worth grows significantly in the long-term as the value of your home appreciates. If you’re considering buying a home this year, consider the long-term benefits of homeownership. Over time, homeownership allows you to build equity and wealth. On average, nationwide home prices appreciated by 290.2% over the Continue Reading
If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life but also your community. The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact: As the graphic shows, when a house is sold, it can make a big difference in Continue Reading
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