SW Florida Home Seller's Resource

03/11/2024

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that may be on your mind. But understanding your home equity could be the key to making your decision easier.

Think of equity as a simple math equation. It's the value of your home now minus what you owe on your mortgage. And guess what? Recently, your equity has probably grown more than you think.

In the past few years, home prices skyrocketed, which means your home's value – and your equity – likely shot up, too. So, you may have more equity than you realize.

How To Make the Most of Your Home Equity Right Now

If you're thinking about moving, the equity you have in your home could be a big help. According to CoreLogic: “. . . the average U.S. homeowner with a mortgage still has more than $300,000 in equity . . .”

After you sell your house, you can use your equity to help you buy your next home:

• Be an all-cash buyer: If you’ve been living in your current home for a long time, you might have enough equity to buy your next home without having to take out a loan. If that’s the case, you won’t need to borrow any money or worry about mortgage rates.

• Make a larger down payment: Your equity could also be used toward your next down payment. It might even be enough to let you put a larger amount down, so you won’t have to borrow as much money.

The Easy Way To Find Out How Much Equity You Have

To find out how much equity you have in your home, ask a real estate agent you trust for a Professional Equity Assessment Report (PEAR).

Planning a move? Your home equity can really help you out. DM me to see how much equity you have and how it can help with your next home.

Are you on the fence about selling your house?

03/07/2024

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.

The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years.

According to Realtor.com: “Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Research, says: “. . . 2024 is starting stronger than last year. And demand is increasing each week.”

If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, DM me.

Have you been thinking about selling your house?

03/03/2024

Spring Selling Secret: Want your house to sparkle in the eyes of every potential buyer? Show it's been pampered and cared for. From decluttering to deep cleaning, make sure your space shines bright and leaves a lasting impression. DM me to chat about what steps you need to take to get your house market-ready this season.

02/28/2024

Ready to make a move? Your current house could be the key to overcoming today’s affordability hurdles. As you’ve paid down your mortgage and home prices rose, your equity grew. Right now, over two-thirds of homeowners are holding at least 50% equity in their homes - that’s a huge advantage when looking to move. DM me to learn how much equity you have.

02/24/2024

Headlines saying foreclosures are rising might make you feel uneasy, but there’s no cause for alarm. Today’s numbers are still below pre-pandemic levels and are significantly lower than the 2008 housing market crash. Let’s chat more about why today’s housing market is nothing like it was back then.

02/20/2024

Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.

If you look at the national data for 2023, home prices actually showed positive growth for the year.

The overarching story is that prices went up last year, not down. Let’s dive in to the data to set the record straight.

2023 Was the Return to More Normal Home Price Growth

If anything, last year marked a return to more normal home price appreciation. To prove it, here’s what usually happens in residential real estate.

In the housing market, there are predictable ebbs and flows that take place each year. It’s called seasonality. Home prices follow along with this seasonality because prices grow the most when there’s high demand.

What You Really Need To Know

Headlines are going to call attention to the small month-to-month dips instead of the bigger year-long picture. And that can be a bit misleading because it’s only focused on one part of the whole story.

Instead, remember last year we saw the return of seasonality in the housing market – and that’s a good thing after home prices skyrocketed unsustainably during the ‘unicorn’ years of the pandemic.

And just in case you’re still worried home prices will fall, don’t be. The expectation for this year is that prices will continue to appreciate as buyers re-enter the market due to mortgage rates trending down compared to last year.

Don’t let home price headlines confuse you. The data shows that, as a whole, home prices rose in 2023. If you have questions about what you’re hearing in the news or about what’s happening with home prices in our local area, DM me.

Based on what you’re hearing in the news about home prices, you may be worried they’re falling.

02/16/2024

There are more homes for sale this year. Let’s connect to find the perfect one for you.

01/09/2024

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.

12/22/2023

If a move is on your mind this holiday season, remember selling now makes both your move and someone else’s possible. Let’s connect today and start the process of selling your house.

12/18/2023

Use Homebot to get an instant estimate of you home's value and let me know if you feel your free report is accurate. If you would like a more comprehensive analysis of your home's current market value, please let me know. It would be my pleasure to perform a complimentary CMA (Comparative Market Analysis.) It is the best way to determine your home's true value. If you have any questions, or if you just want to discuss the current real estate market, let's chat!

Homebot is a monthly financial dashboard that enables you to maximize the wealth from the single largest asset you will ever own.

12/17/2023

Thinking about selling your house sometime soon? If you are, here are a few tips that can help you out along the way. By working with a real estate agent and maximizing your home’s appeal, you can attract as many buyers as possible. DM me today for more tips and to get your house on the market in front of eager buyers.

12/09/2023

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.

To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.

Experts Project Ongoing Appreciation

While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group.

The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices over a five-year period. It includes projections from over 100 economists, investment strategists, and housing market analysts. And the results from the latest quarterly release show home prices are expected to go up every year through 2027.

If you’re worried home prices are going to fall, here’s the big takeaway. Even though prices vary by local area, experts project they’ll continue to rise across the country for years to come at a pace that’s more normal for the market.

If you’re someone who’s worried home prices are going to fall, rest assured a lot of experts say it’s just the opposite – nationally, home prices will continue to climb not just next year, but for years to come. If you have any questions or concerns about what’s next for home prices in our local area, DM me.

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future.