Justin Pirrie - The Veteran Realtor

01/29/2024

How Owning a Home Can Really Increase Your Wealth

If you're choosing between renting or buying a home this year, consider that homeownership can be a significant wealth-building tool. Let’s connect so you can learn more about how buying a home can increase your net worth over time.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/26/2024

2024 is already off to a strong start. With demand on the rise, it’s a great time to get your house in front of potential buyers. If the thought of selling has crossed your mind, this could be your golden opportunity to make a move. DM me today, and together, let's get your house sold.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/25/2024

Have you been holding off on selling your house because you felt mortgage rates were too high? If so, their recent dip is good news. Lower rates not only help you feel less locked-in to your current rate, but they also bring more buyers to the market. If you're ready to make the most of today's more favorable conditions and talk through the next steps, DM me.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/24/2024

Experts Project Home Prices Will Increase in 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...



Justin Pirrie
DMA Real Estate
DRE # 02113108

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

01/23/2024

3 Key Factors Affecting Home Affordability

To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages.

1. Mortgage Rates

Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.

2. Home Prices

The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024.
That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if...



Justin Pirrie
DMA Real Estate
DRE # 02113108

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten.

01/22/2024

Why You May Want To Consider a Newly Built Home Today

If you’re feeling frustrated by the limited supply of homes for sale, you may want to look into new home construction. Let's connect to go over the process for buying a newly built home and see what’s available near us.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/19/2024

Thinking of buying a home this year? Time to be strategic. With the current affordability challenges and limited housing supply, finding a home that suits your needs and fits your budget requires some thoughtful planning. Let's chat about your priorities and ensure your housing decision aligns with your long-term goals.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/18/2024

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

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...



Justin Pirrie
DMA Real Estate
DRE # 02113108

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.

01/17/2024

The Dramatic Impact of Homeownership on Net Worth

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s.

One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you make your mortgage payment each month.

The Largest Part of Most Homeowner Net Worth Is Their Equity

Home equity does more to build the average household’s wealth than anything else. According to data from First American and the Federal Reserve, this holds true...



Justin Pirrie
DMA Real Estate
DRE # 02113108

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

01/16/2024

Homeownership Is Still at the Heart of the American Dream

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...



Justin Pirrie
DMA Real Estate
DRE # 02113108

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

01/15/2024

Wondering where you’ll go when you sell your house? With so few homes available today, it’s crucial to explore all your options. That includes both existing homes as well as newly built ones. If you're curious about the choices in our area, let's chat. I'm here to help you navigate what's available and find what suits you best.



Justin Pirrie
DMA Real Estate
DRE # 02113108

01/12/2024

Why the Price of Your House Matters When Selling

The asking price for your house can greatly affect your bottom line and how fast your house sells. Let’s connect so we can find the right price for your house.



Justin Pirrie
DMA Real Estate
DRE # 02113108