Adhami Real Estate

09/19/2022

Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market

After over two years of constant and rather extreme imbalance in both the local and national real estate markets, we're finally (FINALLY!!) starting to see a market in which the average buyer can shop with some hope of a sound, timely outcome.

The days of 25-offers-per-listing are over (for now;), and our local market is starting to behave like a semi-responsible young adult again, rather than the petulant toddler we've been dealing with since late-2019.

By the numbers, demand still exceeds supply in most areas, and large demographic factors tell us that this will probably be the case for several years to come. Having said that, the cheap-money-fueled-red-hot-demand we've been wrestling with for years now has settled a bit, and restored some much-needed normalcy.

I built this real estate business on the notion that it's not my job to sell anything to anyone, but rather to help people make decisions they'll be happy with down the road. Good decisions are made with good information, and providing accurate, objective information is the whole goal of these updates.

With that in mind, please do feel free to reach out if you'd like to talk through a real estate decision you're considering. I'm always happy to provide the counsel, and you'll get no push from me.

As always, thank you for trusting Me as your Realtor with your real estate needs - I sincerely appreciate it.

Please call me @248-249-1998. Thank you!

07/22/2022

Buying a house is an important decision that cannot be taken lightly! Your quality of life and personal finances depend on it. Let me assist you in this process. Call me @ 248-249-1998

03/12/2022

Clock with flowers and moving hand
spring forward

Ready to spring forward into a new home? The flowers will soon be blooming and the spring market is already booming. Spring Forward is on Sunday, March 13. Don't forget to set your clocks forward before bed on Saturday!

08/16/2021

To buy or not to buy a home

Owning a home is a truly rewarding experience. It's also a big investment. So, you should know where your wallet stands before
you fall in love with a homeinvestment. So, you should know where your wallet stands before you fall in love with a homeinvestment. So, you should know where your wallet stands before you fall in love with a home.

Please contact me @ 248-249-1998 I can assist you by fiting your dreams with your finanial abilty. I will do the best to fulfil your dream.

04/21/2021

Market Update!

The single-family-residential real estate market has been getting a lot of attention lately, primarily due to how extreme the current levels of supply and demand have become.

Sellers are seeing record outcomes, and buyers are often struggling to gain traction. For example, I listed a home in Ferndale last week, and received 26 offers within 3 days, 25 of which were well above list price. These levels of heat and pressure in the market have many of us understandably concerned about the risk of a hit to value in the near-term. As likely as some sort of 'crash' may seem, the majority of economists - along with the actual data - tell a different story.

As Real Estate Professionals, I sincerely want what's best for my clients. That said, if we're to believe the economists and the data, the overall cost of both real estate and money will continue to rise for several years to come. This trend does not affect everyone equally, and understanding how to best position yourself depends on your specific market goals.

Downsizing Sellers:

You have options, and you have time. Selling now would get you a fantastic result, but buying the smaller home could be tougher now than perhaps 6-12 months down the road. That said, the relief we see within the next year is unlikely to be significant, so keep an eye on your target market.

Move-Up Sellers:

Financially, your best outcome is most likely available to you sooner, rather than later. As many markets are experiencing similar levels of upward pressure on value, you stand to gain less by waiting than the sellers of your next home will. Furthermore, the cost of money is likely to continue to rise, thereby reducing future purchasing power (relatively speaking...).

First time and/or OOT Buyers:

Those of you in this group are bearing the brunt of this tough market. The upside is that money is still historically cheap (just ask your parents about their mortgage rate in the 80's;), and you're likely looking at the cheapest housing costs you're going to see for a long time. Additionally, inventory levels should improve as the vaccine roll-out reduces health risks for concerned sellers.

Bottom line:

The market is very tough right now, and will probably stay that way for quite some time. Those who understand this well enough to do the hard work now are unlikely to regret it down the road.

As always, feel free to reach out if you'd like to discuss your options - I am always happy to do it. You can reach me @248-249-1998

03/22/2021

Regardless of your level of participation in today's Real Estate Market, you've probably heard enough by now to know the basics: inventory is low - demand is high - and the cost of housing is rising as a result. Most of us are old enough to have some fairly vivid memories of what The Great Recession of 2008 did to home values, and many are understandably concerned about today's high prices leading to a similar situation.

Before I tell you that 'everything will be fine', and that there's 'nothing to worry about', let me first say that I don't like to get this stuff wrong. Sure, we're a bit biased towards real estate in general - and we all admittedly have eggs in that basket. That said, we really do take our job - and your trust - very seriously, and we prefer to lean on historic data and long-term market trends, rather than whatever hype might be swirling around our industry at any given moment.

While our current real estate climate may trigger some unsettling feelings / memories about what happened last time, the truth is that the fundamentals of the market as an asset class couldn't be much different now. Fortunately, we all (homeowners - lenders - real estate professionals) learned some very important lessons from what happened in '08, and these lessons appear to have lead to a stable and strong market, whose true value was created in a far more sound manner than what preceded The Great Recession.

As always - thank you for trusting me with your real estate needs, and feel free to reach out anytime if you'd like to discuss how this information could affect your sale, purchase, or home's current value - I am always happy to help.

11/04/2020

High Levels Of Housing Demand Expected
To Carry Over Into The New Year

Despite a rather unpredictable year, housing demand is one area that has remained strong.

Now, Redfin CEO, Glenn Kelman, predicts, “This level of demand is absolutely insane. I would expect it to last into 2021, at least."
Starting there, let's take a look at what the recent data has to tell us.

Several factors driving demand – A rise in remote working. The desire to be in less-populated areas. Wanting more space to work and learn from home. All of these have contributed to an insatiable demand for housing.

Rates still at historic lows – Although they certainly won't be forever, low interest rates are another factor fueling an already red-hot market.

The proof is in the purchasing – To help put existing demand in perspective, here's the latest. In September, the National Association of REALTORS® reported sales of existing homes jumped 9.4%, up 20.9% annually.

Home prices also on the rise – A surge in demand, coupled with an ongoing inventory shortage, has created the perfect storm for a price increase to occur. By the end of September, the median 'sold' price was $311,800 (14.8% higher than this time last year).
Not surprisingly, supply thins out (and prices are rising the fastest) the closer you get to the low end of the market.

The bottom line is this: There's a lot to be excited about for real estate as we move into 2021. However, with prices continuing to rise, clients who are actively looking to buy may benefit from doing so sooner rather than later if their current situation allows.

Contact me today to see how we can work together to help you as clients to take advantage of current opportunities.

11/02/2020

With the presidential election finally upon us, many are wondering about the effect our nation's political volatility may have on the housing market in the months to come. Thankfully - and as predicted - the single-family-residential real estate market has demonstrated remarkable resilience this year, and this will likely continue for at least the next year or so.

In 2021 we expect current trends to continue, regardless of what happens tomorrow.

To say that 2020 has been a tough year is an understatement. We've all faced new and serious challenges, and we're not out of the woods yet. As always - but now more than ever - I Eliana Adhami Realtor am extremely grateful for your trust. Additionally, we recognize that many folks are facing difficult housing-related situations right now, and we want you to know that we're here to help. If you or someone you know are facing a seemingly unsolvable housing problem, please reach out - we'll do whatever we can.

So vote tomorrow, love your neighbors, and stay in touch -I am here if you need me:)

10/12/2020

Buying A Home Right Now: Easy? No. Smart? Yes.


Ther is no need to put off your buying a home plan.

As we start to come out of this epidemic, many new homes will start to appear on the market.

Taking advantage of this situation when the competition is less and the mortgage rates are at an all-time low is a smart move.

Many families have decided not to postpone their plans to purchase a home, even in these difficult times.

If you need to make a move, let’s connect today so you have a trusted advisor to safely and professionally guide you through the process.

10/10/2020

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Beautiful Home With Creek In Large Backyard !!!!Truly amazing Colonial in a perfect location and BETTER THAN BUILDING NEW! Why build when you can move right into this very young home that has a beautiful open Floor Plan! Custom Kitchen with Granite Counters and Top of the line SS Appliances.! Large....

08/27/2020

Why Is It so Important to Be Pre-Approved in the Homebuying Process?

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

According to a recent survey from realtor.com, many buyers are making the mistake of skipping the pre-approval step in the homebuying process:

“Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months, only 52% obtained a pre-approval letter before beginning their home search, which means nearly half of home buyers are missing this crucial piece of paperwork.”

This paperwork (the pre-approval letter) shows sellers you’re a qualified buyer, something that can really help you stand out from the crowd in the current ultra-competitive market.

How competitive is today’s market? Extremely – especially among buyers.

With limited inventory, there are many more buyers than sellers right now, and that’s fueling the competition. According to the National Association of Realtors (NAR), homes are receiving an average of 2.9 offers for sellers to negotiate, so bidding wars are heating up.

Pre-approval shows homeowners you’re a serious buyer. It helps you stand out from the crowd if you get into a multiple-offer scenario, and these days, it’s likely. When a seller knows you’re qualified to buy the home, you’re in a better position to potentially win the bidding war and land the home of your dreams.

Danielle Hale, Chief Economist for realtor.com notes:

“For ‘a buyer in a competitive market, it’s typically essential to have pre-approval done in order to submit an offer, so getting it done before you even look at homes is a smart move that will enable a buyer to move fast to put an offer in on the right home.’”

In addition, today’s housing market is also changing from moment to moment. Interest rates are low, prices are going up, and lending institutions are regularly updating their standards. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals (a loan officer and a real estate agent) making sure you take the right steps along the way and can show your qualifications as a buyer at the time you find a home to purchase.

Bottom Line

In a competitive market with low inventory, a pre-approval letter is a game-changing piece of the homebuying process. If you’re ready to buy this year, let’s connect before you start searching for a home.

Stay Safe and Be Well

If I can help you in any way, please don't hesitate to reach out.

Eliana Adhami
248-249-1998