Allen Realty Solutions

01/08/2024

Why Pre-Approval Is Your Homebuying Game Changer

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why.

Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer.

What Pre-Approval Does for You

To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they’re willing to loan you. From there...

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip.

01/05/2024

Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC]

Planning to buy a home in 2024? Here’s what to focus on. Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you. Let’s connect so you have expert advice on how to achieve your homebuying goals this year.

Planning to buy a home in 2024? Here’s what to focus on.

01/04/2024

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.

01/03/2024

Thinking About Buying a Home? Ask Yourself These Questions

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028. And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too.

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates spiked up...

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.

01/01/2024

3 Keys To Hitting Your Homeownership Goals in 2024

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

1. Know Your Why

You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many compelling reasons to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time. Use your why and your motivation as a guidepost in partnership with an expert advisor to make sure your move gives you a lasting sense of accomplishment.

2. Figure Out What Your Next Home Needs To Look Like

You know you want to move, but how would you describe your dream home? The number of homes for sale has grown recently, and...

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

12/29/2023

What You Need To Know About Saving for a Home in 2024

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.
Here are just a few things experts say you should be thinking about.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required.

To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires.

2. Closing Costs

Bankrate explains: “Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the...

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.

12/28/2023

Pre-Approval Matters When Buying a Home

If you’re thinking about buying a home, getting pre-approved is an important first step. Want more information on buying a home? Let’s connect.

12/27/2023

Get Ready To Buy a Home by Improving Your Credit Score

As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score.

Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate.

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.

According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect.
If you’re looking for ways to improve your score, Experian highlights some things you may want to focus...

As the new year approaches, the idea of buying a home might be on your mind.

12/25/2023

These Non-Financial Benefits Turn a House into a Happy Home

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of homeownership are important, the non-financial and emotional reasons are too. Here’s why.

1. You Can Be Proud of Your Accomplishment
Buying a home is a major life milestone. Whether you’re ready to buy your first home or your fifth, congratulations will be in order once you’ve achieved your goal. The sense of accomplishment you’ll feel at the end of your journey will truly make your home feel like your special place.

2. You Have Your Own Designated Happy Place
Owning your home offers not only safety and security, but also a comfortable place where you can relax and unwind after a long day. Sometimes that’s just what you need to feel refreshed and recharged.

3. You Can...

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy.

12/22/2023

Sell Smarter: Why Working with a Real Estate Agent May Beat Going Solo

If you're thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider. Going this route means taking on a lot of responsibilities by yourself – and that can be a bit of a headache.

A recent report from the National Association of Realtors (NAR) found two of the most difficult tasks for people who sell their house on their own are getting the price right and understanding and performing paperwork.

Getting the Price Right

Setting the right price for your house is important when you're trying to sell it. If you're selling your house on your own, two common issues can happen. For starters, you might ask for too much money (overpricing). Alternatively, you might not ask for enough (underpricing). Either can make it hard to sell your house. To avoid these problems, it's a good...

If you're thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider.

12/21/2023

What Experts Say About the Housing Market in 2024

Experts forecast home prices will go up over the next five years. Let’s connect to discuss why that’s a good thing for you.

#2024

12/20/2023

Why Mortgage Rates Could Continue To Decline

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here's what you need to know.

The Federal Funds Rate Hikes Have Stalled

One of the Fed’s primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.

Recently inflation has started to cool, a signal those increases worked and are bringing inflation back down. As a result, the Fed’s hikes have gotten smaller and less frequent. In fact, there haven’t been any increases since July.

This indicates the Fed thinks the economy and inflation are improving. Why does that matter to you...

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed).