Michael & Company Real Estate Inc.

09/12/2023

What Experts Project for Home Prices Over the Next 5 Years

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.

Experts Project Ongoing Appreciation

Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years.

If you’re someone who was worried home prices would fall because of stories you’ve read online, here's the big takeaway. Even though home prices vary by local market, experts project prices will continue to...

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment.

09/11/2023

Planning to Retire? Your Equity Can Help You Make a Move

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities. As the door to this exciting chapter opens, one thing you may be considering is selling your house and finding a home better suited for your evolving needs.

Fortunately, you may be in a better position to make a move than you realize. Here are a few reasons why.

Consider How Long You’ve Been in Your Home

From 1985 to 2009, the average length of time homeowners stayed in their homes was roughly six years. But according to the National Association of Realtors (NAR), that number is higher today. Since 2010, the average home tenure is just over nine years.

This means many homeowners have been living in their houses even longer in recent years. When you live in a home for such a significant amount of time, it’s natural for you to experience changes...

Reaching retirement is a significant milestone in life, bringing with it a lot of change and new opportunities.

09/09/2023

Did you know that your equity grows as you pay down your home loan and as home prices increase? And the recent rise in home values is giving your equity an extra boost. Nearly half of homeowners today have at least 50% equity in their houses. Want to know how much equity you've got and how you can use it? Send me a DM and let's chat.

09/09/2023

With the current low supply of homes for sale, it’s still a seller's market. So, if you’re thinking of selling your house this year, making your move while inventory is this low means you could see multiple offers and a quick sale. DM me so we can chat about the many benefits that come with listing now.

09/09/2023

According to a recent survey, 100 economists, investment strategists, and housing market analysts project home prices will appreciate every year for the next five years. That means if your goal is to become a homeowner, you could considerably grow your net worth if home prices appreciate like expected. Interested in learning more? DM me today.

09/08/2023

Haven’t found your dream home yet? It may be because there’s a limited supply of homes up for sale. But, here’s something that could help. Adding newly built homes to your search opens up a world of exciting options. Interested in exploring what our area's homebuilders have in store? DM me today so you have a trusted agent at your side.

09/08/2023

Home Price Forecasts Revised for 2023 [INFOGRAPHIC]

Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low. While it’s normal for experts to re-forecast throughout the year, the good news for 2023 is that prices are no longer projected to decrease. Let’s connect so you know what’s happening with home values in our local area.

Last year, some housing experts projected a decline in home prices by the end of 2023. But that didn’t happen – inventory was just too low. 

09/08/2023

Are headlines about the housing market leaving you with more questions than answers? That can make it tough when you’re trying to decide if you’re ready to buy or sell a home. For a clearer picture of today’s housing market, DM me for digital copies of these guides. They’re designed to make sure you have the information you need to make a confident decision.

09/07/2023

The Fall Guides for Buying or Selling a Home Have Arrived

The fall guides for buying or selling a home have arrived. Let’s connect so you can get the newest digital versions.

09/07/2023

Get Ready for Smaller, More Affordable Homes

Have you been trying to buy a home, but higher mortgage rates and home prices are limiting your options? If so, here’s some good news, smaller, more affordable homes are on the way.

In some ways, smaller homes are already here. When the pandemic hit, the meaning of home changed. People needed the space their home provided not only as a place to live, but as a place to work, go to school, exercise, and more. Those who had that space were more likely to keep it. And those that didn’t were in a position where they were trying to sell their smaller house to move up to a larger one. That meant the homes coming to the market during the pandemic were smaller than those on the market before the pandemic – and that trend continues today.

Larger homes tend to come on the market during the summer months when households with children who are out of school are looking to...

09/06/2023

Mortgage Rates: Past, Present, and Possible Future

If you’re hoping to buy a home this year, you’re probably paying close attention to mortgage rates. Since mortgage rates impact what you can afford when you take out a home loan – and affordability is a challenge today – it’s a good time to look at the big picture of where mortgage rates have been historically compared to where they are now.

Giving Context to the Sticker Shock

Mortgage rates have increased significantly since the start of last year. But even with that rise, today’s rates are still below the 52-year average.

That’s important because it explains why the recent jump in rates might have you feeling sticker shock even though they’re close to their long-term average. While many buyers have adjusted to the elevated rates over the past year, a slightly lower rate would be a welcome sight. To determine if that’s a realistic possibility, it’s...

09/05/2023

Expert Home Price Forecasts Revised Up for 2023

Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023. That led to a lot of fear and questions about whether there was going to be a repeat of the housing crash that happened back in 2008. But the headlines got it wrong.

While there was a slight home price correction after the sky-high price appreciation during the ‘unicorn’ years, nationally, home prices didn’t come crashing down. If anything, prices were a lot more resilient than many people expected.

Expert Home Price Forecasts: Then and Now

There are a number of reasons why home prices are so resilient to falling. As Odeta Kushi, Deputy Chief Economist at First American, says: “One thing is for sure, having long-term, fixed-rate debt in the U.S. protects homeowners from payment shock, acts as an inflation hedge - your primary household expense...

Toward the end of last year, there were a number of headlines saying home prices were going to fall substantially in 2023.