Ed Kelley - RE/MAX Valley Shore

Ed Kelley - RE/MAX Valley Shore Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Ed Kelley - RE/MAX Valley Shore, Estate agent, 222 Old Boston Post Road, Old Saybrook, CT.

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down...
02/13/2024

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around. Let’s break down what it is and why it’s important if you’re looking to buy a home in 2024.

What Pre-Approval Is

As part of the homebuying process, your lender will look at your finances to figure out what they’re willing to loan you. According to Investopedia, this includes things like your W-2, tax returns, credit score, bank statements, and more.

From there, they’ll give you a pre-approval letter to help you understand how much money you can borrow.

This sets you up to make an informed decision about your numbers. That way you’re able to tailor your home search to what you’re actually comfortable with budget-wise and can act fast when you find a home you love.

Why Pre-Approval Is So Important in 2024

If you want to buy a home this year, there’s another reason you’re going to want to be sure you’re...

On the road to becoming a homeowner? If so, you may have heard the term pre-approval get tossed around.

In today's housing market, you can still come out on top if you have the right team and plan. To win when buying a home,...
02/10/2024

In today's housing market, you can still come out on top if you have the right team and plan. To win when buying a home, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Let’s connect today to make your winning move.

In today's housing market, you can still come out on top if you have the right team and plan.

Are you on the fence about selling your house? While affordability is improving this year, it’s still tight. And that ma...
02/08/2024

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...

Are you on the fence about selling your house?

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzie...
02/06/2024

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...

Have you been thinking about selling your house?

Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their ...
02/01/2024

Home affordability depends on three factors: mortgage rates, home prices, and wages. Mortgage rates are down from their recent peak, home prices are expected to rise at a slower pace, and wages are increasing faster than usual. That’s good news if you want to buy a home because it means affordability is getting better.

Home affordability depends on three factors: mortgage rates, home prices, and wages. 

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of ...
01/30/2024

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?

The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.

Inflation and the Federal Reserve

The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.

Fortunately, the expert outlook for inflation and mortgage rates is that both should become more favorable over the course of the year. As Danielle Hale, Chief Economist at Realtor.com, says: “[M]ortgage rates will continue to ease in 2024 as inflation...

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of exci...
01/27/2024

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. Keep these three best practices in mind when you’re ready to sell.

1. Price Your Home Right

If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.

2. Keep Your Emotions in Check

Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years.

This is much more than what used to be the norm. The side effect, however, is when you stay in one...

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.

Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process. If ...
01/25/2024

Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process. If you want to become a homeowner this year, it's a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home. Let’s connect so you can get expert help with any questions you have.

Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent s...
01/23/2024

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.

To help ease that concern, here's what experts forecast will happen with prices this year.

Experts Project a Modest Increase

Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains: “With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach...

Even though home prices are going up nationally, some people are still worried they might come down.

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Let’s explore just a few of the...
01/20/2024

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Let’s explore just a few of the reasons why so many Americans continue to value homeownership.

The Financial Benefits of Owning a Home

One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool. Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down.

It can also provide meaningful financial stability compared to renting. When you buy with a fixed-rate mortgage, you can lock in your monthly housing payments for the length of your home loan.

The Non-Financial Benefits of Homeownership

But, owning a home offers more than just financial benefits—it benefits you socially and emotionally too. Your home provides feelings of achievement, responsibility, and more.

What Does That...

Buying a home is a powerful decision, and it remains at the heart of the American Dream.

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their rec...
01/18/2024

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now.

And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future.

You May Not Feel as Locked-In to Your Current Mortgage Rate

With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. With rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was. That makes moving more affordable than it was just a few months ago. As Lance Lambert, Founder of ResiClub...

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? I...
01/16/2024

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.

Near-Record Percentage of New Home Inventory

The percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way.

Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped).

And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news.

How This Helps You

Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives...

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move?

Address

222 Old Boston Post Road
Old Saybrook, CT
06475

Opening Hours

Monday 9am - 5:30pm
Tuesday 9am - 5:30pm
Wednesday 9am - 5:30pm

Telephone

+18603044338

Website

Alerts

Be the first to know and let us send you an email when Ed Kelley - RE/MAX Valley Shore posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The Business

Send a message to Ed Kelley - RE/MAX Valley Shore:

Shortcuts

Share

Category