Real Estate by Deanna

03/28/2022

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03/24/2022

What You Can Expect from the Spring Housing Market

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reserve in over three years — the housing market seems to be relatively immune. Here’s a look at what experts say you can expect this spring.

>>Mortgage Rates Will Climb
Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days.

>>Housing Inventory Will Increase
There may be some relief coming for buyers searching for a home to purchase. Realtor.com recently reported that the number...

As the spring housing market kicks off, you likely want to know what you can expect this season when it comes to buying or selling a house. While there are multiple factors causing some uncertainty, including the conflict overseas, rising inflation, and the first rate increase from the Federal Reser...

03/23/2022

What You Need To Know if You’re Thinking About Building a Home

Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.

>>Supply Chain Issues

The first hurdle builders are dealing with is the lack of supply of various building materials. According to a recent article from HousingWire, “. . . Nearly everything needed in the homebuilding process is facing some sort of delay and subsequent price increase.”

>>Skilled Labor Shortage

But that’s not the only challenge with new home construction today. Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines. But there is good news. The...

If you’re ready to move up, you may be trying to decide whether you want to buy a home that's already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to co...

03/22/2022

The Many Benefits of Homeownership

Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy a home today, think about all the ways homeownership can impact your life.

>>Homeownership Has Impactful Personal and Emotional Benefits
Owning your home gives you a significant sense of pride because it’s a space which is truly yours. And as a homeowner, you can customize your home to your heart’s desire. Having a space you’ve put your stamp on enhances the pride and sense of ownership you may feel. And that sense of ownership can extend beyond your shelter to help create social, community, and civic benefits as well. As NAR says, “Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”
>>Owning a Home Is a Significant Step Toward Financial Stability
In a...

The past two years have taught us the true value of homeownership, especially the stability and the feeling of accomplishment it can provide. But homeownership has so much more to offer. Here’s a look at a few of the non-financial and financial benefits of owning a home. If you’re looking to buy...

03/21/2022

The Average Homeowner Gained More Than $55K in Equity over the Past Year

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great news for you.

Here’s how it happened. Home values are on the rise thanks to low housing supply and high buyer demand. When you own a home, the rising prices mean your home is worth more in today’s market. And as home values climb, your equity does too. As Dr. Frank Nothaft, Chief Economist at CoreLogic, explains, “Home prices rose 18% during 2021 in the CoreLogic Home Price Index, the largest annual gain recorded in its 45-year history, generating a big increase in home equity wealth.” According to CoreLogic, the average...

If you’re a current homeowner, you should know your net worth just got a big boost. It comes in the form of rising home equity. Equity is the current value of your home minus what you owe on the loan. Today, you’re building that equity far faster than you may expect – and this gain is great ne...

03/18/2022

Spring Cleaning Checklist for Sellers [INFOGRAPHIC]

If you’re thinking about selling your house this spring, here are some things you’ll want to tackle before you list. Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackle for your home, you need the opinion of a trusted expert. DM me to help make sure your house shows well this season.

Some Highlights If you’re thinking about selling your house this spring, here are some things you’ll want to tackle before you list. Spend your time on tasks that make it feel inviting, show it’s cared for, and boost your curb appeal. To determine the full list of things you’ll want to tackl...

03/17/2022

Did Your Dream Home Just Come on the Market?

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines).

Though the increase in homes coming to the market is great news for prospective homebuyers, the number of buyers is still outpacing the number of homes available for sale. In fact, according to the latest ShowingTime Showing Index, which tracks the average number of appointments received on active listings during the month, buyer demand was greater this January than any other January in the last five years.

Basically, as homes come to the market, they are quickly being purchased by eagerly awaiting buyers. So even though the number of newly listed homes is increasing, the number of active...

For the first time in a long time, the number of newly listed homes is beginning to rise. In their latest monthly release, realtor.com reveals the number of existing homes entering the market has increased for two months in a row (this comes after six months of declines). Here’s a graph showing th...

03/16/2022

Are You Wondering if This Is the Year To Buy a Home?

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. After all, according to Census data, rents have risen consistently for decades.

To make an informed and powerful decision, the first step is understanding what’s happening in today’s housing market so you can determine which option is the better long-term financial decision for you.

Rents are skyrocketing right now. Data from realtor.com shows just how much rental prices are surging throughout the country. If you’re a renter and plan on signing a new lease, your monthly costs are likely to go up when you do. Those rising costs can have a big impact on your...

Every year, many renters ask themselves the same question: Should I continue renting, or is it time to buy a home? If you’re a renter, chances are you’ve asked yourself that question at least once, and it’s likely because you’ve faced an increase in your monthly housing costs over time. Afte...

03/15/2022

Don’t Get Caught Off Guard by Closing Costs

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. Here’s some information to help you get started so you’re not caught off guard when it’s time to close on your home.

>>What Are Closing Costs?
One possible reason some people are surprised by closing costs may be because they don’t know what they are or what they cover. According to U.S. News and World Report:

“Closing costs encompass a variety of expenses above your property's purchase price. They include things like lender fees, title insurance, government processing fees, upfront tax payments and homeowners insurance.”

In other words, your closing costs are a collection of fees and payments made to a variety of individuals and organizations who are involved with your transaction.

>>How Much Will You Need To Budget for Closing...

As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised by their closing costs. Here’s some information to help you get...

03/14/2022

This Spring Presents Sellers with a Golden Opportunity

If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one. If that’s the case, you should know – you may be able to get the best of both worlds today.

>>1. The Number of Homes on the Market Is Still Low
There are far more buyers in the market today than there are homes available. Listing your house now makes it the center of attention.

>>2. Your Equity Is Growing in Record Amounts
Homeowners are sitting on record amounts of equity thanks to recent home price appreciation. That much equity can open doors for you to make a move. It may be just what you need to cover a large portion – if not all – of the down payment on your next home.

>>3. Mortgage Rates Are Increasing
While recent...

If you’re thinking of selling your house this year, timing is crucial. After all, you’ll want to balance getting the most out of the sale of your current home and making the best investment when you buy your next one.

03/11/2022

Key Terms for Homebuyers [INFOGRAPHIC]

Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. Let’s connect so you have an expert guide and advice for any questions that may come up.

Some Highlights Knowing key housing terms and how they relate to today’s market is important. For example, when mortgage rates and home prices rise, it impacts how much home you can afford. Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (whi...