Jake Bachrodt - EXP Realty - Spradling Group

09/01/2022

Some first time home buyer tips to remember!

08/17/2022

What Does the Rest of the Year Hold for Home Prices?

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals.

Last Year’s Rapid Home Price Growth Wasn’t the Norm
In 2021, home prices appreciated quickly. One reason why is that record-low mortgage rates motivated more buyers to enter the market. As a result, there were more people looking to make a purchase than there were homes available for sale. That led to competitive bidding wars which drove prices up. CoreLogic helps explain how unusual last year’s appreciation was:

“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

In other words, the pace of appreciation in 2021 far surpassed the 6% the market saw in 2020. And even that appreciation was greater than the pre-pandemic norm which was typically around 3.8%. This goes to show, 2021 was an anomaly in the housing market spurred by more buyers than homes for sale.

Home Price Appreciation Moderates Today
This year, home price appreciation is slowing (or decelerating) from the feverish pace the market saw over the past two years. According to the latest forecasts, experts say on average, nationwide, prices will still appreciate by roughly 10% in 2022 (see graph)

If you’re thinking of making a move, you shouldn’t wait for prices to fall. Experts say nationally, prices will continue to appreciate this year, just at a more moderate pace. Contact me today, and I will help you with all your real estate needs. And don’t forget to follow me on Facebook https://www.facebook.com/Jakebachrodtrealtor

08/09/2022

I have good news for homeowners here in Johnson County. For the last 2 years, there’s been an elephant in the room that no one wants to talk about. The hard truth is, any homeowner with a pulse knows (and has known) they could make a lot of money by selling their house.

But, the question no one had an answer for was, “Where do I go?”
For the last 2 years, it’s been HARD to be a buyer in this market. Really hard. Homes have been selling quickly at record prices.
Which means it’s been a great time to sell your home, but nearly impossible to find your next one.
But that is all changing now.

Buyers may not “feel” it yet, but as a full-time Realtor here in Johnson County, I do. Because I am constantly seeing offers and writing offers on homes, I tend to sense these shifts before my clients do.

The market is shifting.
Homes are sitting a little longer.
Price reductions are happening.

This is really good news for buyers. Buyers actually have a much better chance of finding the home they want today than they did just 30 days ago.

But that’s also really good news for sellers, too.
Sellers have a much better chance of finding their next home now. In many cases, sellers can even make an offer contingent on selling their home — that was unheard of just a few months ago!
So the good news is: The elephant is gone. The market is shifting. And that’s actually a great thing.

Give me a call if you have any questions: (913) 201-0646
- Jake Bachrodt

08/08/2022

Buying a Home May Make More Financial Sense Than Renting One..

If rising home prices leave you wondering if it makes more sense to rent or buy a home in today's housing market, consider this. It's not just home prices that have risen in recent years - rental prices have absolutely skyrocketed as well. As a recent article from realtor.com says:

"The median rent across the 50 largest US metropolitan areas reached $1,876 in June, a new record level for realtor.com data for the 16th consecutive month."

That means rising prices will likely impact your housing plans either way. But there are a few key differences that could make buying a home a more worthwhile option for you. If you need more space, Buying a home may be more affordable.

What you may not realize is that , according to the latest data from realtor.com and the National Association of Realtors (NAR) , it may actually be more affordable to buy than rent depending on how many bedrooms you need. The graph uses the median rental payment across the country to show WHY:

08/02/2022

Just because a room was built small, doesn't
mean it has to feel small. Here are a few ways to
make any room feel larger than it is!
What are some other tricks you like to use?

07/30/2022

If you're ready to buy a home, now may be the moment you’ve been waiting for. Contact me today!

07/30/2022

Shopping small isn't just good for the community, it's also great for you as a homeowner! You can seriously add value to your home by supporting the local community,, so lets show some love for our local small businesses! What are your favorite local businesses? Drop/tag them in the comments below!

07/29/2022

Want To Buy a Home? Now May Be the Time.
There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”
Two Reasons There Are More Homes for Sale
The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com
to show how active real estate listings have risen over the past four months as a result.

The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.

Contact me today with all your home buying and selling needs

07/28/2022

Number 5, I’ll take it!!

Americans' top choices aren't necessarily the best-known.

07/22/2022

Here are a few myths about today's unique housing market

Jake Bachrodt
Spradling Group EXP Realty
913-201-0646

07/22/2022

If you have put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of homes for sale is increasing as a result. That means you may have a better chance of finding a home that will meet your current needs. Here are some options to consider.

Buying an Existing Home Can Give You That Lived-in Charm
According to the National Association of Realtors (NAR), the supply of existing homes (a home that’s been previously owned) has steadily increased since the beginning of the year. The graph below indicates inventory levels are rising, and that’s largely due to more homes coming onto the market and the pace of sales slowing.
As the graph shows, if you’re looking for a home with lived-in charm, supply is rising, and that’s great news for you.

Bottom Line:

With the supply of homes for sale rising, you have options for your next home no matter what your preferences are. If you have questions or want help deciding what’s best for you, connect with a local real estate professional and start the conversation today. If you're in the Kansas City area and are looking to buy in Kansas, please contact me today!

Jake Bachrodt
Spradling Group EXP Realty
913-201-0646

07/22/2022

It's very important to know your "WHY'S" before purchasing a home!