Justin Lockwood - Beverly & Co DRE 02128085

04/12/2023

Your Tax Refund Can Help You Achieve Your Homebuying Goals

Have you been saving up to buy a home this year? If so, you know there are a variety of expenses involved – from your down payment to closing costs. But there’s good news – your tax refund can help you achieve your goals by paying for some of these expenses.

SmartAsset estimates the average American will receive a $1,798 tax refund this year. According to Freddie Mac, there are multiple ways your refund check can help you as a homebuyer. If you’re getting a refund this year and thinking about buying a home, here are a few tips to keep:

Saving for a down payment – One of the largest barriers to homeownership is saving for a down payment. You could reach your savings goal more quickly than expected by using your tax refund to help with your down payment.

Paying for closing costs – You have to pay fees to your lender, real estate agent, and other parties involve...

Have you been saving up to buy a home this year? 

04/11/2023

The Big Advantage If You Sell This Spring

Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low. HousingWire shares:

“. . . the big question is whether we are finally starting to see the seasonal spring increase in inventory. The answer is no, because active listings fell to a new low last week for 2023 . . .”

The National Association of Realtors (NAR) confirms today’s housing inventory is low by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. And today, the number is much lower:

“Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year ago (850,000). Unsold inventory sits at a 2.6-month supply at the current sales pace, down 10.3% from January but up from 1.7 months in February 2022.”

The less in...

Thinking about selling your house?

04/10/2023

Homebuyer Activity Shows Signs of Warming Up for Spring

The spring season appears to be warming up in housing as more and more buyers enter the market. And after rising mortgage rates sidelined so many buyers last year, that’s a good sign for sellers. Realtor.com has the latest:

“Spring is officially here, and like green shoots emerging from the bleak winter, new data suggests that more buyers are back in the market, although more subdued compared to a year ago.”

We know buyer activity is trending up because of mortgage purchase application data. According to Investopedia:

“A mortgage application is a document submitted to a lender when you apply for a mortgage to purchase real estate.”

That means the number of mortgage applications shows how many buyers are applying for mortgages. Put another way, an increase in mortgage applications means an increase in buyer demand – and as Joel Kan, VP and Deputy Chief E...

The spring season appears to be warming up in housing as more and more buyers enter the market. 

04/09/2023

Home prices don’t always fall during a recession. In fact, more often than not, they rise. If you’re worried about the impact a recession could have on the housing market, reach out to me today for expert insights.

04/08/2023

The Key Advantage of Investing in a Home [INFOGRAPHIC]

Buying a home is a major way to build wealth and gain financial stability. That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity. DM me so you can start investing in homeownership.

Buying a home is a major way to build wealth and gain financial stability.That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity.

04/07/2023

Homeownership Is a Hedge Against Inflation

Homeownership is a hedge against inflation. Let’s connect if you’re ready to start the homebuying process.

04/06/2023

Trying To Buy a Home? Hang in There.

There are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them.

>>Long-Term Benefits Outweigh Short-Term Challenges

Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. Freddie Mac puts it this way:

“Homeownership not only builds a sense of pride and accomplishment, but it’s also an important step toward achieving long-term financial stability.”

The key there is long-term because the financial benefits homeownership provides, like home value appreciation and equity, grow over time.

>>Mortgage Rates Are Constantly Changing

Mortgage rates have been hovering around 6.5% over the last several months. However, as Sam Khater, Chief Economist at Freddie Mac, notes, they’ve been coming down some recently:

“Economic uncertainty continue...

We’re still in a sellers’ market.

04/05/2023

If you’re in the market to buy a home, you should know how a mortgage rate change affects you. Even a 0.5% change can have a significant impact on your monthly mortgage payment. If you’re ready to buy, reach out to me today.

04/04/2023

Two Reasons You Should Sell Your House

Wondering if you should sell your house this year? A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year.

Let’s break those reasons down and explore how they might resonate with you.

>>1. I Want To Take Advantage of the Current Market and Make a Profit

When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the average seller can expect a strong return on their investment when they make a move. ATTOM explains:

“The $112,000 profit on median-priced home sales in 2022 represented a 51.4% return on investment compared to the original purchase price, up from 44.6% last year and from 32.8% in 2020.”

Even though home prices have declined slightly in some markets, they’re still much higher overall than they were just a few year...

Wondering if you should sell your house this year? 

04/03/2023

Why a Smaller Home May Be the Best Fit

Are you a homeowner starting to plan where you’ll live when you retire? Let’s connect to explore today’s downsizing opportunities so you can better understand your options.

04/02/2023

Are you wondering if you should sell your house this spring? If so, it’s worth considering all the reasons moving could make sense. DM me for help weighing the benefits of moving and whether it’s the right decision for you.

04/01/2023

In today’s housing market, homeowners have record levels of home equity. That means another housing crash like the one we saw in 2008 is very unlikely. If you have questions about today’s housing market, DM me today.