Wednesday, May 18, 2022 / by Raj Jaggi
If you're trying to decide whether to rent or buy a home, you're probably weighing a few different factors. The financial benefits of homeownership might be one of the reasons you want to make a purchase if you’re a renter, but the decision can also be motivated by having a place that’s uniquely your own.
If you want to express yourself by upgrading and customizing your living space but are feeling held back by your rental agreement, it might be time to consider the perks of owning your home.
A Little Change Can Bring Lots of Joy
There’s a significant level of pride that comes from owning a home. That’s because it’s a space that truly belongs to you.
A recent report from the National Association of Realtors (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space. NAR measures this with a Joy Score that indicates how much happiness specif ...
Monday, May 16, 2022 / by Raj Jaggi
In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:
To be the winning bid on their dream home
To buy before mortgage rates rise more
To buy before home prices go even higher
These buyer needs give you an amazing advantage – also known as leverage – when you sell.
What Does This Mean for Sellers Today?
You might already realize this enables you to sell at a good price, but you’re also in a great position to get the best terms to suit your needs.
According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), the average home sold is receiving 4.8 offers. That’s why there&rs ...
Tuesday, May 10, 2022 / by Raj Jaggi
Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.
What’s Happening with Home Prices?
Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says:
“Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”
So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today’s low-inventory housing market.
Where Do Experts Say Prices Will Go from Here?
Experts say the housing marke ...
Tuesday, May 3, 2022 / by Raj Jaggi
With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below):
The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition. While a real estate professional is your ultimate guide to presenting a strong offer, here are a few things you could consider.
Offering over Asking Price
When you think of sweetening the deal for sellers, the first thought you likely have is around the price of the home. In today’s housing market, it’s true mo ...
Monday, April 18, 2022 / by Raj Jaggi
If you're considering selling your property, you may have heard that prices are rising, listings are selling quickly, and sellers are receiving several offers. But why are today's selling conditions so favorable? And what can you expect if you decide to relocate? Let's look at the data to see if we can answer both of those questions.
There are considerably more purchasers shopping for homes nowadays than there are sellers offering their properties. To help paint a picture of what this looks like, below are maps from the National Association of Realtors (NAR) depicting recent buyer and seller traffic:
On the left, notice how much darker the blues are. This demonstrates that today's buyer traffic is robust. The much lighter blues on the right, on the other hand, imply low or extremely weak seller traffic. In a word, there is far more demand for homes than there are available for purchase.
What Does This Mean for You?
You have a considerable advantage when you sell your home u ...