Karen Nangle at EXIT Cape Realty

08/22/2023

05/22/2023

So very happy for my buyers!!
If you or anyone you know is looking to buy or sell a home, I'd be delighted to help.
Happy Monday!

09/30/2022

When you say "YES" to the EXIT Formula, you say "NO" to living sale-to-sale.

Passive income through the EXIT Formula unlocks the opportunity for unlimited income through bonuses earned when you introduce a colleague who joins EXIT Realty. 💰

You can earn the equivalent to 10% of your sponsor’s gross commission (up to $10,000 per sponsor each year) for as long as they remain with EXIT.

Check us out at exitcaperealty.com and reach out for a confidential conversation.

09/19/2022

A Mortgage Pre-Approval means a lender has reviewed your finances and, based on your income, debt, and credit history, has determined how much you&rsq...

08/15/2022

If you need any assistance with buying or selling, I'm your professional!

06/27/2022

A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a b...

06/23/2022

Homeownership Is a Great Hedge Against the Impact of Rising Inflation!

Today, inflation is at a 40-year high. According to the National Association of Home Builders:

“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. 💰

Should you continue down the path of homeownership? While the answer depends on your situation, homeownership CAN help you combat the rising costs that come with inflation.

Buying a home allows you to stabilize what’s typically your biggest monthly expense: housing cost. When you have a fixed-rate on your home, you lock in your monthly payment for the duration of your loan, often 15 to 30 years. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same. That’s certainly not the case if you’re renting. So even if other prices increase, your housing payment will be a reliable amount that can help keep your budget in check.

While it’s true rising home prices and higher mortgage rates mean that buying a house today costs more than it did even a few months ago, you still have an opportunity to set yourself up for a long-term win. That’s because, in inflationary times, you want to be invested in an asset that outperforms inflation and typically holds or grows in value.🏠

The graph here shows how the average home price appreciation outperformed the average inflation rate in most decades going all the way back to the seventies – making homeownership a historically strong hedge against inflation.

So, what does all this mean for you? Today, experts forecast prices will only go up from here thanks to the ongoing imbalance of supply and . Once you buy a house, any home price appreciation that does occur will grow your equity and your net worth. And since homes are typically assets that grow in value, you have peace of mind that history shows your investment is a strong one. So if you're ready and able, it makes sense to buy today before prices rise further.

exitcaperealty.com

06/16/2022

Despite forecasts for a cooling housing market in 2022, U.S. home prices are still hitting record highs, even with mortgage rates surging in recent months. WSJ’

05/27/2022

Don't let rising inflation delay your homeownership dreams!

Housing is an asset that typically grows in value. Plus, your mortgage helps stabilize your monthly housing costs, and buying protects you from rising .

Experts say owning a home is historically a good hedge against inflation. Connect with an EXIT Cape Realty professional if you’re ready to start the homebuying process today!

05/17/2022

Should you update before you sell?

In today’s Seller's market, have limited options and may be more willing to take on repairs themselves.

If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.

05/10/2022

How Today’s Mortgage Rates Impact Your Home Purchase

If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach. Mortgage rates directly impact the monthly payment you’ll have on the home you purchase. So, when rates rise, so does the monthly payment you’re able to lock in on your home loan.

Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that’ll likely go up in the months ahead. You have the opportunity to get ahead of that increase if you buy now before that impacts your purchasing power.

The chart below can help you understand the general relationship between mortgage rates and a typical monthly mortgage payment within a range of loan amounts. Let’s say your budget allows for a monthly mortgage payment in the $2,100-$2,200 range. The green in the chart indicates a payment within that range, while the red is a payment that exceeds it.

As the chart shows, you’re more likely to exceed your target payment range as mortgage rates increase unless you pursue a lower home loan amount. If you’re ready to buy a home, use this as your motivation to purchase now so you can get ahead of rising rates before you have to make the decision to decrease what you borrow in order to stay comfortably within your budget.

It’s critical to keep your budget top of mind as you’re searching for a home.
Get preapproved with where rates are today, but also consider what would happen if rates were to go up. Know what that would do to your monthly costs and how comfortable you are with that, so that if rates do move higher, you already know how you need to adjust in response.

No matter what, the best strategy is to work with an EXIT Cape Realty agent to create a plan that takes rising mortgage rates into consideration.

05/06/2022

Buying your first home is a major decision and an exciting milestone. Even though it can feel daunting at times, it has the power to change your life...