“Is this a good time to buy a home?” The answer is, “Absolutely!" There are 3 key elements in the housing market that determine affordability, Mortgage Rates, Home Prices and Wages. Experts are predicting that these 3 factors are likely to improve this year! Read on to find out more:
Getting top dollar for your home does not always mean pricing it as high as possible. There are many factors to consider when pricing your home to sell and it is important to understand the “method behind the madness”. Pricing your home too high could result in less money than the home is worth, while pricing too low could result in money being left on the table. This is why it is so important to work with a Real Estate Professional who can help you navigate through all these caveats. Contact me today!
I hear the same question from buyers over and over, “I want to buy a house but I don’t know where to start?” THE most important first step in buying a home is not to start looking at houses but to obtain a preapproval from a local lender. Without a preapproval, you have NO idea what your purchase power is and are not fully prepared to start making offers on homes that you may fall in love with. Do not put off this important step in the process!
If you are considering purchasing a home this year but are waiting for rates to drop, you need to reconsider that plan. According to experts, we are not going to see 3% rates any time soon however, with inflation easing we will see lower mortgage rates in 2023 as compared to this past year. This is still a great time to buy and homeownership is still a better option over renting!
During the pandemic, second homes became popular because of the rise in work-from-home flexibility. That’s because owning a second home, especially in the luxury market, allowed those homeowners to spend more time in their favorite places or with different home features. Keep in mind, a luxury home isn’t only defined by price. In a recent article, Investopedia shares additional factors that push a home into this category: location, such as a home on the water or in a desirable city, and features, the things that make the home itself feel luxurious.
It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:
Are you considering buying a home in 2023 and overwhelmed with all the terminology? Here are 9 Key Terms to help you better navigate through the homebuying process.
If you were considering buying a home or selling a home in 2022 you probably felt like you had the rug ripped out from under you, with constant rate hikes and so much uncertainty in the market. The good news is that experts are predicting greater stability and predictability in the housing market for 2023. If you held off on buying your dream home or selling your home this past year, 2023 may be your year!
Mortgage Rates have been at the top of everyone's mind this past year and many prospective buyers have continued to hold off on a home purchase until things simmer down. But, while you are waiting for rates to drop and getting ready to sign another rental lease, consider the fact that rents between 2021 and 2022 increased by over 17% and are expected to increase by another 6% or more in 2023. Over a 20% increase in 3 years! Read further to find out why you need to consider a home purchase in 2023.
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