Earl Buffaloe, Home Towne Real Estate

10/26/2024

01/12/2024

🖍️ Do your kiddos love to draw? We would love for them to enter our We Help You Home art contest. This contest is a way for us to see the magic of home through children's eyes.

🖌️This year's theme: WHAT DOES HOME MEAN TO YOU? 🖌️

CONTEST RULES 👉 https://hometowne.re/2024contestrules
TO ENTER 👉 https://hometowne.re/2024htreartcontest

06/30/2023

Key Reasons To Use a Real Estate Agent When You Sell [INFOGRAPHIC]

An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process. They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed at the contracts and disclosures involved. DM me to ensure you have an expert helping you sell your house successfully.

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An agent is a really important part of selling your home because they bring a lot of skill and expertise to the sales process.

06/29/2023

Where Will You Go If You Sell? Newly Built Homes Might Be the Answer.

Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market? You're not alone, but there’s some good news that may ease your worries. New home construction is up and is becoming an increasingly significant part of the housing inventory.

That means when you go to put your house on the market this summer, considering newly built homes is crucial for expanding the options you’ll have for your next move.

Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), highlights the importance of newly built homes for those looking to buy in today’s housing market. Dietz states, "With limited available housing inventory, new construction will continue to be a significant part of prospective buyers' search in the quarters ahead."

Don’t overlo...



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Do you want to sell your house, but hesitate because you’re worried you won’t be able to find your next home in today’s market?

06/28/2023

Lending Standards Are Not Like They Were Leading Up to the Crash

You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it.

Every month, the Mortgage Bankers Association releases the Mortgage Credit Availability Index. 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. In 2004, the index was around 400. But, by 2006, it had gone up to over 850. Today, the story is quite different. Since the crash, the index went down because lending standards got tight...



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You might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008.

06/27/2023

Why Homeownership Wins in the Long Run

Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some 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 think about the long-term benefits of homeownership when making your decision.

Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe buying a home is a safe investment.

Here’s a look at how just the home price appreciation piece can really add up over the years.

If you look at the percent change i...



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Today’s higher mortgage rates, inflationary pressures, and concerns about a potential recession have some people questioning: should I still buy a home this year?

06/26/2023

The True Cost of Selling Your House on Your Own

In a new report, NAR surveyed homeowners who’d recently sold their own homes and asked what difficulties they faced. Those sellers say some of the greatest challenges were prepping their home for sale, pricing it right, and properly managing the required paperwork, just to name a few.

When it comes to selling your most valuable asset, consider the invaluable support that a real estate agent can provide. By partnering with an agent, you can navigate the complexities of the selling process with confidence. Here are just a few of the many ways an agent is essential to your home sale:

>>Marketing and Exposure
If you sell on your own, you may struggle to match the reach of agents, resulting in limited exposure and, ultimately, fewer potential buyers.

>>Managing Liability and Legal Considerations
Real estate agents are well-versed in the contracts, discl...



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Selling your house is no simple task.

06/23/2023

Homeownership Helps Protect You from Inflation [INFOGRAPHIC]

Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up 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 within the next 12 months. Especially when inflation is up, having a stable housing payment can be helpful. Let’s connect so you can learn more and start your journey to owning a home today.

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Wondering if it makes sense to buy a home today even when inflation is high? When other costs go up due to inflation, buying a home helps you keep your monthly housing expense steady.

06/22/2023

What Homebuyers Need To Know About Credit Scores

If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan. Lenders review your credit to assess your ability to make payments on time, to 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 the most important factors lenders consider when you apply for a mortgage. Not just to qualify for the loan itself, but for the conditions: Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. Working with a trusted lender’s the best way to get more information...



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If you’re thinking about buying a home, you should know your credit score’s a critical piece of the puzzle when it comes to qualifying for a home loan.

06/21/2023

Eco-Friendly, Energy-Efficient Homes Attract Buyers

NAR shows 48% of agents or brokers have noticed consumers are interested in sustainability. If you want to upgrade your house in a way that maximizes its green appeal, you need to work with a local agent to understand what buyers in your area are looking for. The same NAR report identifies the following green home features as most important to buyers at a national level:

>>Windows, doors, and siding
>>Proximity to frequently visited places
>>A comfortable living space
>>A home’s utility bills and operating costs
While you can’t change the location of your house, you can take action to make sure it’s as comfortable as possible while also setting up the next owners for lower operating costs. ENERGY STAR shares some suggested upgrades as ones that may be worth considering:

>>Heating and cooling
>>Water heater
>>Smart thermostat
>>Attic insulation
>...



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Are you planning to sell your house?

06/20/2023

Why the Median Home Price Is Meaningless in Today’s Market

NAR will release their latest 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 a bit confusing, especially if you’ve been following along and seeing the blogs saying that home prices have bottomed out and turned a corner.

So, why will this likely say home prices are falling when so many other price reports say they’re going back up? It all depends on the methodology of each report. NAR reports on the median sales price, while some other sources use repeat sales prices. Here’s how those approaches differ.

WSU explains median prices like this: “The median sale price measures the ‘middle’ price of homes that sold, meaning that half of the homes sold for a higher price and...



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The National Association of Realtors (NAR) will release its latest Existing Home Sales (EHS) report later this week.

06/19/2023

Saving for a Down Payment? Here’s What You Need To Know.

If you're planning to buy your first home, then 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% down. That doesn’t necessarily have to be the case. As NAR notes, “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”

And a recent Freddie Mac survey finds, “. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.”

Here’s the good news. Unless specified by your loan type or lender, it’s typically not r...



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If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase.