Birch Bay LIving

01/19/2024

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There are plenty of reasons why you may want or need to move. For many, it's a new job opportunity or the desire to be closer to loved ones. If you're considering selling your house and could use some friendly advice on weighing the pros and cons, let's chat. I'm here to help you explore your options.

01/18/2024

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2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now.

And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future.

You May Not Feel as Locked-In to Your Current Mortgage Rate

With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. With rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was...

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.

01/17/2024

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The Dramatic Impact of Homeownership on Net Worth

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s.

One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you make your mortgage payment each month.

The Largest Part of Most Homeowner Net Worth Is Their Equity

Home equity does more to build the average household’s wealth than anything else. According to data from First American and the Federal Reserve, this holds true...

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

01/16/2024

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Homeownership Is Still at the Heart of the American Dream

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Let’s explore just a few of the reasons why so many Americans continue to value homeownership.

The Financial Benefits of Owning a Home

One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool. Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down.

It can also provide meaningful financial stability compared to renting. When you buy with a fixed-rate mortgage, you can lock in your monthly housing payments for the length of your home loan.

The Non-Financial Benefits of Homeownership

But, owning a home offers more than just financial benefits—it benefits you socially...

Buying a home is a powerful decision, and it remains at the heart of the American Dream.

01/15/2024

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Wondering where you’ll go when you sell your house? With so few homes available today, it’s crucial to explore all your options. That includes both existing homes as well as newly built ones. If you're curious about the choices in our area, let's chat. I'm here to help you navigate what's available and find what suits you best.

01/14/2024

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Thinking of making 2024 the year you become a homeowner? Focus on boosting your credit score, planning for that down payment, getting pre-approved, and deciding what’s important to you. Let's connect so you can get expert advice on turning those homeownership dreams into reality this year.

01/13/2024

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Why the Price of Your House Matters When Selling

The asking price for your house can greatly affect your bottom line and how fast your house sells. Let’s connect so we can find the right price for your house.

01/12/2024

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Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years. If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, let’s connect.

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.

01/11/2024

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Avoid These Common Mistakes After Applying for a Mortgage

If you’re getting ready to buy a home, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s a list of things to remember when you apply for your home loan.

Don’t Deposit Large Sums of Cash

Lenders need to source your money, and cash isn’t easily traceable. Discuss the proper way to document your transactions with your loan officer.

Don’t Make Any Large Purchases

It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. Resist the temptation to make any large purchases, even for furniture or appliances.

Don’t Cosign Loans for Anyone

When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment.

Don’t Switch Bank Accounts

Lenders need to...

If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own.

01/10/2024

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There’s so much a trusted real estate agent can help you with when you sell a house. We’re specialists at navigating today’s market and each step of the selling process. Don’t go at it alone. DM me today so we can sell your house this year.

01/09/2024

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Ways Your Home Equity Can Help You Reach Your Goals

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this: “. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.”

That means your equity grows as you pay down your home loan over time and as home values climb. Here are a few examples of how you can put your home equity to work for you.

1. Buy a Home That Fits Your Needs

If your current space no longer meets your needs, you can put your equity toward a down payment on something that fits your changing lifestyle.

2. Reinvest in Your Current Home

A real estate agent is a great resource on which projects to prioritize to get the greatest return on your...

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity.

01/08/2024

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What Are Your Goals for 2024?

What are your goals for 2024? Let’s connect and find a home that has enough room for you to reach your goals this year.