Thursday, April 24, 2025 / by Joyce Dungca
At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”
That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.
Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.
Forecasts Say Prices Will Keep Climbing
Each quarter, over 100 housing market experts weigh in for the Home Price Expectations Survey from Fannie Mae, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.
Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will ...
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team raj jaggi, buyers, sellers, housing market, homeownership, home prices
Wednesday, April 2, 2025 / by Joyce Dungca
Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.
According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. And one place you can usually find a smaller footprint (and sometimes better affordability) is in townhomes.
Why Townhomes Are Gaining Popularity
Townhomes typically cost less than single-family homes due to their more limited size. And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:
"In today's market, affordability remains a key priority for homebuyers, making townhomes an attractive option because they are often priced more reasonably than single-family homes. It makes them es ...
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team raj jaggi, buyers, sellers, housing market, first-time home buyers, homeownership
Wednesday, March 26, 2025 / by Joyce Dungca
Spring is here, and so is the busiest season in real estate. More buyers are out looking for homes, which means more competition for you. If you want to put yourself in the best position to buy, there’s one step you can’t afford to skip, and that’s getting pre-approved for a mortgage.
Some buyers think they can wait until they’ve found a home they love before talking to a lender. But in a season where homes can sell fast, that’s a risky move. Getting pre-approved before you start your search is a much better bet.
Here’s what you need to know about this early step in the buying process.
What Is Pre-Approval?
Pre-approval gives you a sense of how much a lender is willing to let you borrow for your home loan. To determine that number, a lender starts by looking at your financial history. Here are some of the things that can have an impact, according to Yahoo Finance:
Your debt-to-income (DTI) ratio: This is how much money ...
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team raj jaggi, buyers, sellers, housing market, homeownership, pre approval
Tuesday, March 25, 2025 / by Joyce Dungca
Homeowner’s insurance is a must-have to protect what’s probably your biggest investment – your home. And while you never want to think about worst-case scenarios, the right coverage is basically your safety net if something goes wrong. Here’s how it helps you.
Covers Repairs and Rebuilding Costs: If your home is damaged by fire, storms, or other covered events, your policy helps pay for repairs or even a full rebuild.
Protects Your Belongings: Many policies can also cover personal items like furniture, electronics, and clothing if they’re stolen or damaged.
Provides Liability Coverage: If someone gets injured on your property, homeowner’s insurance can help cover medical bills or legal expenses.
In the simplest sense, it gives you peace of mind. Knowing you have protection against unexpected events helps you worry less. And with such a big purchase, having that reassurance is a big deal.
And while your first insura ...
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team raj jaggi, buyers, sellers, housing market, homeownership, home owners, mortgage, insurance
Monday, February 24, 2025 / by Joyce Dungca
Many people are hoping mortgage rates will come down before they buy a home. But will that actually happen? According to the latest forecasts, experts say rates will decline, but not by as much as a lot of people want.
The good news? Even if they don’t drop substantially, there are still ways to make buying a home more affordable.
How Much Will Rates Drop?
A few months ago, experts were forecasting mortgage rates could dip below 6% by the end of the year. But recent projections suggest that may not happen after all.
While mortgage rates are still expected to decline some later this year, projections from Fannie Mae, the Mortgage Bankers Association (MBA), and Wells Fargo now show them stabilizing closer to the 6.5% to 7% range (see below):
That means if you’re holding off on buying a home in hopes of much lower mortgage rates, you may be waiting a while. And if you need to move because something in your life has changed, like a new job, a n? ...
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team raj jaggi, buyers, sellers, mortgage rates, homeownership, home buying
