Sara Clayton - Realtor

27/09/2024

A little late to post because it has been a busy week! SO grateful for my amazing clients. Thank you all for trusting me through some of the largest purchases and sales you make in your life!

30/07/2024

Why a Foreclosure Wave Isn’t on the Horizon

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming?

Here's a look at why the data and the experts say that’s not going to happen.

There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages

One of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending standards made it easy for people to take out mortgages, even when they couldn’t show they’d be able to pay them back. At that time, lenders weren’t being as strict when looking at applicant credit scores, income levels, employment status, and debt-to-income ratio.

But since then...

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.

29/07/2024

During the pandemic, home prices soared due to high demand coupled with low inventory and mortgage rates. But that rapid appreciation couldn’t last forever.

Now, data confirms prices are still rising, just more moderately.

This healthier pace is actually a good thing. It means home price growth is normalizing.

DM me if you want more details on prices in our area.

28/07/2024

Unlocking the Benefits of Your Home Equity

Home equity is the difference between how much your home is worth and how much you owe on your mortgage. And for most people it’s gotten a big boost in recent years, thanks to rising home prices. If you want to find out how much equity you have, reach out for a professional equity assessment report.

27/07/2024

How the Economy Impacts Mortgage Rates

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.

The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:

1. The Rate of Inflation
2. How Many Jobs the Economy Is Adding
3. The Unemployment Rate

What Does This Mean Moving Forward?

While mortgage rates are going to continue to be...

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

26/07/2024

New trend alert.

The median price for new builds has dipped lower than the median for existing homes.

Plus, some builders are tossing in sweet perks like competitive mortgage rates and free upgrades.

So, if you aren’t already considering brand-new homes, it may be worth looking into. Drop a comment with your dream home feature, and let’s find your perfect fit together.

25/07/2024

Do high prices at the gas pump and grocery store have you worried more people are going to fall behind on their mortgage payments?

If you’re thinking that’ll lead to a surge of foreclosures, let this reassure you.

Serious delinquencies (loans that are 3 or more monthly payments past due) are on the decline – so there’s no wave of foreclosures on the horizon.

24/07/2024

A Newly Built Home May Actually Be More Budget-Friendly

If you’re in the market to buy a home, there’s some exciting news for you.

Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.

Reason 1: Lower Median Prices for Newly Built Homes

The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from the Census and the National Association of Realtors (NAR).

Why is that? Builders are focused on building what they can sell. And right now, there’s a very real need for smaller and more affordable homes – so that’s what they’ve been bringing to the market.

Reason 2: Attractive Incentives from Home Builders

Another big reason to consider a newly built home is the range of incentives that many home builders are offering...

If you’re in the market to buy a home, there’s some exciting news for you.

23/07/2024

The Biggest Mistakes Homebuyers Are Making Right Now

Some of the biggest mistakes homebuyers are making right now are putting off pre-approval, holding out for perfection, and buying more than they can afford. The best way to avoid making these mistakes? Hire an agent who knows today’s market and how to help you navigate it.

22/07/2024

How Affordability and Remote Work Are Changing Where People Live

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.

Consider Moving to a More Affordable Area

Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower.

If you’re hoping to buy a home soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget.

Remote Work Opens Up More Home Options

If you work remotely or drive into the office only a few times each week, you have many more possibilities when...

There’s an interesting trend happening in the housing market.

21/07/2024

Did you put off your home search because the market was too intense?

Here’s some good news: buyer demand is easing and inventory is growing. This means you may be able to avoid being in a multiple-offer scenario.

Want to learn more about the opportunities buyers have in the second half of this year? DM me.

20/07/2024

Choosing the right agent is a big deal.
One key thing to look for? A local real estate expert.
You want to find someone who knows the area like the back of their hand, including where you're most likely to find the home you're looking for.
It can make a world of difference in your homebuying journey.