New Search

If you are not happy with the results below please do another search

2715 search results for: you need an industry expert in this market

201
stdClass Object
(
    [agents_bottom_line] => 

Whether your motives are financial or focused on the people you’ll share your home with, buying a multi-generational home may make sense for you. If you’re interested in learning more, let’s connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too.

Why Buyers Are Opting for Multi-Generational Living

According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability (see graph below):

First-time buyers are focused most on cost savings – with 28% saying this was a key reason for them. By pooling their resources with others, they can share financial responsibilities like mortgage payments, utilities, and more to make homeownership more affordable. This is especially helpful for those first-time homebuyers who may be finding it tough to afford a home on their own in today’s market.

Buyers are also turning to multi-generational homes so they can more easily afford their dream home. Both first-time (28%) and repeat buyers (18%) chose to live with others so they could buy a larger home. When everyone chips in and combines their incomes, that big dream home with more space could be more within reach.

But multi-generational living isn’t just about the financial side of things. According to the same study from NAR, 23% of repeat buyers chose to buy a multi-generational home to make it easier to care for an aging parent. Many older adults want to age in place and a multi-generational home can help make that possible. For those older adults, it gives them an opportunity to maintain their quality of life while being surrounded by their loved ones. As Axios explains:

“Financial concerns and caregiving needs are two of the major reasons people live with their parents (and parents' parents).”

Lean on an Expert

Finding the perfect multi-generational home isn’t as simple as shopping for a regular house. That’s because there are more people with even more opinions and needs to be considered. It's like solving a puzzle, and the pieces need to fit just right.

So if you're interested in the many benefits multi-generational living offers, partner with a local real estate agent who has the expertise to help.

[created_at] => 2024-01-24T16:24:20Z [description] =>

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240124/20240125-The-Benefits-of-Buying-a-Multi-Generational-Home.png [id] => 40562 [kcm_ig_caption] => Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too. Why Buyers Are Opting for Multi-Generational Living According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability. First-time buyers are focused most on cost savings – with 28% saying this was a key reason for them. By pooling their resources with others, they can share financial responsibilities like mortgage payments, utilities, and more to make homeownership more affordable. This is especially helpful for those first-time homebuyers who may be finding it tough to afford a home on their own in today’s market. But multi-generational living isn’t just about the financial side of things. For those older adults, it gives them an opportunity to maintain their quality of life while being surrounded by their loved ones. Lean on an Expert Finding the perfect multi-generational home isn’t as simple as shopping for a regular house. That’s because there are more people with even more opinions and needs to be considered. It's like solving a puzzle, and the pieces need to fit just right. Whether your motives are financial or focused on the people you’ll share your home with, buying a multi-generational home may make sense for you. If you’re interested in learning more, DM me. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => The benefits of buying a multi-generational home. [public_bottom_line] =>

Whether your motives are financial or focused on the people you’ll share your home with, buying a multi-generational home may make sense for you. If you’re interested in learning more, connect with a local real estate agent.

[published_at] => 2024-01-25T11:30:00Z [related] => Array ( ) [slug] => the-top-benefits-of-buying-a-multi-generational-home [status] => published [tags] => Array ( [0] => content-hub ) [title] => The Top Benefits of Buying a Multi-Generational Home [updated_at] => 2024-01-25T11:30:57Z [url] => /2024/01/25/the-top-benefits-of-buying-a-multi-generational-home/ )

The Top Benefits of Buying a Multi-Generational Home

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind?

202
stdClass Object
(
    [agents_bottom_line] => 

As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. Let’s connect so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale.

The Mortgage Rate Lock-In Effect

Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. An article from Freddie Mac explains:

The lack of housing supply was partly driven by the rate lock-in effect. . . . With higher rates, the incentive for existing homeowners to list their property and move to a new house has greatly diminished, leaving them rate locked.”

These homeowners decided to stay put and keep their current lower mortgage rate, rather than move and take on a higher one on their next home.

Early Signs Show Those Homeowners Are Ready To Move Again

According to the latest data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in December 2023 compared to December 2022 (see graph below):

 

Here's why this is so significant. Typically, activity in the housing market cools down in the later months of the year as some sellers choose to delay their moves until January rolls around.

This is the first time since 2020 that we’ve seen an uptick in new listings this time of year. This could be a signal that the rate lock-in effect is easing a bit in response to lower rates.

What This Means for You

While there isn’t going to suddenly be an influx of options for your home search, it does mean more sellers may be deciding to list. According to a recent article from the Joint Center for Housing Studies (JCHS):

A reduction in interest rates could alleviate the lock-in effect and help lift homeowner mobility. Indeed, interest rates have recently declined, falling by a full percentage point from October to November 2023 . . . Further decreases would reduce the barrier to moving and give homeowners looking to sell a newfound sense of urgency . . .”

And that means you may see more homes come onto the market to give you more fresh options to choose from.

[created_at] => 2024-01-17T18:24:11Z [description] =>

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240117/20240124-Are-more-homeowners-selling-as-mortgage-rates-come-down.jpg [id] => 39601 [kcm_ig_caption] => If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability. But there’s another way this benefits you – it may inspire more homeowners to put their houses up for sale. The Mortgage Rate Lock-In Effect Over the past year, one factor that’s really limited the options for your move is how few homes were on the market. That’s because many homeowners chose to delay their plans to sell once mortgage rates went up. Early Signs Show Those Homeowners Are Ready To Move Again According to the latest data from Realtor.com, there were more homeowners putting their houses up for sale, known in the industry as new listings, in December 2023 compared to December 2022. Here's why this is so significant. Typically, activity in the housing market cools down in the later months of the year as some sellers choose to delay their moves until January rolls around. This is the first time since 2020 that we’re seen an uptick in new listings this time of year. This could be a signal that the rate lock-in effect is easing a bit in response to lower rates. What This Means for You While there isn’t going to suddenly be an influx of options for your home search, it does mean more sellers may be deciding to list. And that means you may see more homes come onto the market to give you more fresh options to choose from. As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. DM me so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => Are more homeowners selling as mortgage rates come down? [public_bottom_line] =>

As mortgage rates come down, more sellers may re-enter the market – that gives you an opportunity to find the home you’re looking for. Connect with a real estate agent so you’ve got a local expert on your side who’ll help you stay on top of the latest listings in our area.

[published_at] => 2024-01-24T11:30:00Z [related] => Array ( ) [slug] => are-more-homeowners-selling-as-mortgage-rates-come-down [status] => published [tags] => Array ( [0] => content-hub ) [title] => Are More Homeowners Selling as Mortgage Rates Come Down? [updated_at] => 2024-01-25T18:18:58Z [url] => /2024/01/24/are-more-homeowners-selling-as-mortgage-rates-come-down/ )

Are More Homeowners Selling as Mortgage Rates Come Down?

If you’re looking to buy a home, the recent downward trend in mortgage rates is good news because it helps with affordability.

203
stdClass Object
(
    [agents_bottom_line] => 

If you're worried home prices will come down, don’t be. Many experts believe they’ll actually go up this year. If you have questions or worries about what’s happening with prices in our area, let’s connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 9 [name] => Home Prices [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => home-prices [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Precios ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:22:04Z [id] => 327 [name] => Forecasts [parent] => [parent_id] => [published_at] => 2024-04-10T16:22:19Z [slug] => forecasts [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Previsiones ) ) [updated_at] => 2024-04-10T16:22:19Z ) ) [content_type] => blog [contents] =>

Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too.

To help ease that concern, here's what experts forecast will happen with prices this year.

Experts Project a Modest Increase

Check out the latest home price forecasts from eight different sources (see graph below):

The blue bar on the left means, on average, experts think home prices will go up over 2% by the end of this year – not down.

Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains:

“With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.

What Does This Mean for You?

Experts are saying home prices will go up this year, and that's good news if you're thinking about buying a home. When you become a homeowner, you want the value of your house to go up. That appreciation is what builds equity and makes homeownership such a good investment over time.

Beyond that, expected home price appreciation also means if you’re ready, willing, and able to buy, waiting just means it will cost more later. 

[created_at] => 2024-01-22T19:21:29Z [description] =>

Even though home prices are going up nationally, some people are still worried they might come down.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240122/20240123-Experts-Project-Home-Prices-Will-Increase-in-2024.png [id] => 40252 [kcm_ig_caption] => Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. That means almost one out of every four people are dealing with that fear, and you might be, too. To help ease that concern, here's what experts forecast will happen with prices this year. Experts Project a Modest Increase Prices aren’t likely to depreciate in 2024 because inventory is still tight and lower mortgage rates are leading to strong buyer demand. Those two factors will keep pushing prices up as the year goes on. As Selma Hepp, Chief Economist at CoreLogic, explains: “With mortgage rates dropping, demand for homes in early 2024 is likely to be strong and will again put pressure on prices, similar to trends observed in early 2023 . . . Most markets will continue to reach new home price highs over the course of 2024.” What Does This Mean for You? Experts are saying home prices will go up this year, and that's good news if you're thinking about buying a home. When you become a homeowner, you want the value of your house to go up. That appreciation is what builds equity and makes homeownership such a good investment over time. Beyond that, expected home price appreciation also means if you’re ready, willing, and able to buy, waiting just means it will cost more later. If you're worried home prices will come down, don’t be. Many experts believe they’ll actually go up this year. If you have questions or worries about what’s happening with prices in our area, DM me. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Experts project home prices will increase in 2024. [public_bottom_line] =>

If you're worried home prices will come down, don’t be. Many experts believe they’ll actually go up this year. If you have questions or worries about what’s happening with prices in your area, it's a good idea to talk to a real estate agent.

[published_at] => 2024-01-23T11:30:00Z [related] => Array ( ) [slug] => experts-project-home-prices-will-increase-in-2024 [status] => published [tags] => Array ( [0] => content-hub ) [title] => Experts Project Home Prices Will Increase in 2024 [updated_at] => 2024-04-11T20:15:44Z [url] => /2024/01/23/experts-project-home-prices-will-increase-in-2024/ )

Experts Project Home Prices Will Increase in 2024

Even though home prices are going up nationally, some people are still worried they might come down.

204
stdClass Object
(
    [agents_bottom_line] => 

If you’re considering selling your house, let’s connect so you have help navigating the process while prioritizing these must-do’s.

[assets] => Array ( ) [banner_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240129/STM-Banner-GettyImages-1700873470.jpg [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.

A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.

1. Price Your Home Right

The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today. Hannah Jones, Economic Research Analyst for Realtor.com, explains:

“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”

If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.

2. Keep Your Emotions in Check

Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below):

This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.

For some homeowners, that makes it even tougher to separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind.

3. Stage Your Home Properly

While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. That’s why it’s so important to make sure you focus on your home’s first impression, so it appeals to as many buyers as possible.

Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:

“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”

A real estate professional can help you with expertise on getting your house ready to sell.

[created_at] => 2024-01-18T19:28:04Z [description] =>

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240118/20240122-3-Must-Do-s-When-Selling-Your-House-in-2024.png [id] => 39819 [kcm_ig_caption] => If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. Keep these three best practices in mind when you’re ready to sell. 1. Price Your Home Right If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar. 2. Keep Your Emotions in Check Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years. This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind. 3. Stage Your Home Properly While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says: “Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.” If you’re considering selling your house, DM me so you have help navigating the process while prioritizing these must-do’s. [kcm_ig_hashtags] => sellyourhouse,moveuphome,dreamhome,realestate,homeownership,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,justsold,keepingcurrentmatters [kcm_ig_quote] => 3 must-do’s when selling your house in 2024. [public_bottom_line] =>

If you’re considering selling your house, reach out to a local real estate professional to help you navigate the process while prioritizing these must-do’s.

[published_at] => 2024-01-22T11:30:00Z [related] => Array ( ) [slug] => 3-must-dos-when-selling-your-house-in-2024 [status] => published [tags] => Array ( [0] => content-hub ) [title] => 3 Must-Do’s When Selling Your House in 2024 [updated_at] => 2024-03-28T16:55:17Z [url] => /2024/01/22/3-must-dos-when-selling-your-house-in-2024/ )

3 Must-Do’s When Selling Your House in 2024

If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.

205
stdClass Object
(
    [agents_bottom_line] => 
    [assets] => Array
        (
            [0] => stdClass Object
                (
                    [id] => 88397
                    [title] => Branded Infographic
                    [description] => 
                    [url] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/image/20240118/Key-Terms-Every-Homebuyer-Should-Learn-NM.jpg
                    [asset_type] => image
                    [categories] => Array
                        (
                        )

                    [tags] => Array
                        (
                        )

                    [updated_at] => 2024-01-18T17:47:56Z
                )

        )

    [banner_image] => 
    [can_share] => no
    [categories] => Array
        (
            [0] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 5
                    [name] => For Buyers
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2019-06-03T18:18:43Z
                    [slug] => buyers
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Para los compradores
                                )

                        )

                    [updated_at] => 2019-06-03T18:18:43Z
                )

            [1] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 8
                    [name] => Infographics
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2019-06-03T18:18:43Z
                    [slug] => infographics
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Infografías
                                )

                        )

                    [updated_at] => 2019-06-03T18:18:43Z
                )

            [2] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 11
                    [name] => First-Time Buyers
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2024-04-10T15:59:33Z
                    [slug] => first-time-buyers
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Compradores de vivienda por primera vez
                                )

                        )

                    [updated_at] => 2024-04-10T15:59:33Z
                )

            [3] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 38
                    [name] => Move-Up
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2024-04-10T16:00:35Z
                    [slug] => move-up
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Compradores de casa mas grande
                                )

                        )

                    [updated_at] => 2024-04-10T16:00:35Z
                )

        )

    [content_type] => blog
    [contents] => 

[created_at] => 2024-01-18T17:49:59Z [description] =>

Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240118/20240119-Key-Terms-Every-Homebuyer-Should-Learn-KCM-Share.png [id] => 39795 [kcm_ig_caption] => Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process. If you want to become a homeowner this year, it's a good idea to learn these key housing terms and understand how they relate to the current housing market. That will help you feel confident when you buy a home. Let’s connect so you can get expert help with any questions you have. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => Key terms every homebuyer should learn. [public_bottom_line] => [published_at] => 2024-01-19T11:30:00Z [related] => Array ( ) [slug] => key-terms-every-homebuyer-should-learn-infographic [status] => published [tags] => Array ( ) [title] => Key Terms Every Homebuyer Should Learn [INFOGRAPHIC] [updated_at] => 2024-01-19T11:30:52Z [url] => /2024/01/19/key-terms-every-homebuyer-should-learn-infographic/ )

Key Terms Every Homebuyer Should Learn [INFOGRAPHIC]

Buying a home is a big deal and can feel especially complicated if you don't know the terms used during the process.

206
stdClass Object
(
    [agents_bottom_line] => 

If you're thinking about buying a home, it's important to know the main factors impacting affordability are improving. To get the latest updates on each, let's connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 9 [name] => Home Prices [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => home-prices [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Precios ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:18:37Z [id] => 322 [name] => Affordability [parent] => [parent_id] => [published_at] => 2024-04-10T16:18:45Z [slug] => affordability [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Asequibilidad ) ) [updated_at] => 2024-04-10T16:18:45Z ) ) [content_type] => blog [contents] =>

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten. But just recently, there’s been a little bit of relief on that front. Mortgage rates have gone down since their most recent peak in October. But there’s more to being able to afford a home than just mortgage rates.

To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. Let’s dive into the latest data on each one to see why affordability is improving.

1. Mortgage Rates

Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Jiayi Xu, an economist at Realtor.com, explains:

“While there could be some fluctuations in the path forward … the general expectation is that mortgage rates will continue to trend downward, as long as the economy continues to see progress on inflation.”

And even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.

2. Home Prices

The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024. That’s because even with inventory projected to grow slightly this year, there still aren’t enough homes for sale for all the people who want to buy them. According to Lisa Sturtevant, Chief Economist at Bright MLS:

“More inventory will be generally offset by more buyers in the market. As a result, it is expected that, overall, the median home price in the U.S. will grow modestly . . .”

That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if you’re ready, willing, and able to buy, and you can find the right home, purchasing before more buyers enter the market and prices rise further might be in your best interest.

3. Wages

Another positive factor in affordability right now is rising income. The graph below uses data from the Federal Reserve to show how wages have grown over time: 

If you look at the blue dotted trendline, you can see the rate at which wages typically rise. But on the right side of the graph, wages are above the trend line today, meaning they’re going up at a higher rate than normal.

Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage. That’s because you don’t have to put as much of your paycheck toward your monthly housing cost.

What This Means for You

Home affordability depends on three things: mortgage rates, home prices, and wages. The good news is, they’re moving in a positive direction for buyers overall.

[created_at] => 2024-01-16T20:37:08Z [description] =>

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240116/202401183-Key-Factors-Affecting-Home-Affordability.png [id] => 39503 [kcm_ig_caption] => To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages. 1. Mortgage Rates Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment. 2. Home Prices The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024. That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if you’re ready, willing, and able to buy, and you can find the right home, purchasing before more buyers enter the market and prices rise further might be in your best interest. 3. Wages Another positive factor in affordability right now is rising income. Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage. That’s because you don’t have to put as much of your paycheck toward your monthly housing cost. What This Means for You Home affordability depends on three things: mortgage rates, home prices, and wages. The good news is, they’re moving in a positive direction for buyers overall. If you're thinking about buying a home, it's important to know the main factors impacting affordability are improving. To get the latest updates on each, DM me. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => Here’s 3 key factors affecting home affordability. [public_bottom_line] =>

If you're thinking about buying a home, it's important to know the main factors impacting affordability are improving. To get the latest updates on each, connect with a trusted real estate agent.

[published_at] => 2024-01-18T11:30:00Z [related] => Array ( ) [slug] => 3-key-factors-affecting-home-affordability [status] => published [tags] => Array ( [0] => content-hub ) [title] => 3 Key Factors Affecting Home Affordability [updated_at] => 2024-04-11T20:16:03Z [url] => /2024/01/18/3-key-factors-affecting-home-affordability/ )

3 Key Factors Affecting Home Affordability

Over the past year, a lot of people have been talking about housing affordability and how tight it’s gotten.

207
stdClass Object
(
    [agents_bottom_line] => 

If you’ve been waiting to sell because you didn’t want to take on a larger mortgage rate or you thought buyers weren’t out there, the recent decline in mortgage rates may be your sign it’s time to move. When you’re ready, let’s connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now (see graph below):

And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future. As Dean Baker, Senior Economist at the Center for Economic Research, explains:

“It also appears that mortgage rates are now falling again. They will almost certainly not fall to pandemic lows, although we may soon see rates under 6.0 percent, which would be low by pre-Great Recession standards.”

Here are two reasons why this recent trend, and the expectation it’ll continue, is such good news for you.

You May Not Feel as Locked-In to Your Current Mortgage Rate

With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. When mortgage rates were higher, moving to a new home meant possibly trading in a low rate for one up near 8%.

However, with rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was. That makes moving more affordable than it was just a few months ago. As Lance Lambert, Founder of ResiClub, explains:

We might be at peak “lock-in effect.” Some move-up or lifestyle sellers might be coming to terms with the fact 3% and 4% mortgage rates aren’t returning anytime soon.”

More Buyers Will Be Coming to the Market

According to data from Bright MLS, the top reason buyers have been waiting to take the plunge into homeownership is high mortgage rates (see graph below):

Lower mortgage rates mean buyers can potentially save money on their home loans, making the prospect of purchasing a home more attractive and affordable. Now that rates are easing, more buyers are likely to feel they’re ready to jump back into the market and make their move. And more buyers mean more demand for your house.

[created_at] => 2024-01-16T16:50:41Z [description] =>

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240116/2024017-2-reasons-why-today-s-mortgage-rate-trend-is-good-for-sellers..png [id] => 39396 [kcm_ig_caption] => If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now. And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future. You May Not Feel as Locked-In to Your Current Mortgage Rate With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. With rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was. That makes moving more affordable than it was just a few months ago. As Lance Lambert, Founder of ResiClub, explains: “We might be at peak “lock-in effect.” Some move-up or lifestyle sellers might be coming to terms with the fact 3% and 4% mortgage rates aren’t returning anytime soon.” More Buyers Will Be Coming to the Market According to data from Bright MLS, the top reason buyers have been waiting to take the plunge into homeownership is high mortgage rates. Now that rates are easing, more buyers are likely to feel they’re ready to jump back into the market and make their move. And more buyers mean more demand for your house. If you’ve been waiting to sell because you didn’t want to take on a larger mortgage rate or you thought buyers weren’t out there, the recent decline in mortgage rates may be your sign it’s time to move. When you’re ready, DM me. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => 2 reasons why today’s mortgage rate trend is good for sellers. [public_bottom_line] =>

If you’ve been waiting to sell because you didn’t want to take on a larger mortgage rate or you thought buyers weren’t out there, the recent decline in mortgage rates may be your sign it’s time to make your move. When you’re ready, connect with a local real estate agent.

[published_at] => 2024-01-17T11:30:00Z [related] => Array ( ) [slug] => 2-reasons-why-todays-mortgage-rate-trend-is-good-for-sellers [status] => published [tags] => Array ( [0] => content-hub ) [title] => 2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers [updated_at] => 2024-01-24T17:11:11Z [url] => /2024/01/17/2-reasons-why-todays-mortgage-rate-trend-is-good-for-sellers/ )

2 Reasons Why Today’s Mortgage Rate Trend Is Good for Sellers

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you.

208
stdClass Object
(
    [agents_bottom_line] => 

If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, let’s connect. That way you have a local expert to help you explore all of your options, including the newly built homes in our area.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:06:50Z [id] => 320 [name] => Inventory [parent] => [parent_id] => [published_at] => 2024-04-10T16:19:06Z [slug] => inventory [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Inventario ) ) [updated_at] => 2024-04-10T16:19:06Z ) ) [content_type] => blog [contents] =>

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.

Near-Record Percentage of New Home Inventory

Newly built homes are becoming an increasingly significant part of today’s housing inventory. According to the most recent report from the National Association of Home Builders (NAHB):

Newly built homes available for sale accounted for 31% of total homes available for sale in November, compared to an approximate 12% historical average.”

That means the percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way.

Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped).

And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Even more home building will be needed with the housing shortage persisting in most markets . . . Another 30% rise in home construction can easily be absorbed in the marketplace . . .”

How This Helps You 

Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search.

Picture yourself in a home that’s new from the ground up: new appliances, fresh paint, fewer maintenance needs because everything is new, and so much more. Doesn’t that sound nice?

And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home. In a recent article, Patrick Duffy, Senior Real Estate Economist at U.S. News, explains:

“Builders have been using mortgage interest rate buydowns for many years as a sales incentive whenever interest rates are relatively high, . . .Today more builders are offering rate buydowns for the entirety of the loan, allowing buyers to finance more home for the same payment amount.”

Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to partner with a trusted real estate agent who knows the local market. They’ll be your go-to resource for coordinating with the builder, reviewing contracts, and more.

[created_at] => 2024-01-09T18:06:14Z [description] =>

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move?

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240109/20240116-Why-You-May-Want-To-Seriously-Consider-a-Newly-Built-Home.png [id] => 38433 [kcm_ig_caption] => Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why. Near-Record Percentage of New Home Inventory The percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way. Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped). And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news. How This Helps You Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search. And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home. Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to partner with a trusted real estate agent who knows the local market. If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, DM me. That way you have a local expert to help you explore all of your options, including the newly built homes in our area. [kcm_ig_hashtags] => expertanswers,stayinformed,staycurrent,powerfuldecisions,confidentdecisions,realestate,homevalues,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Why you may want to seriously consider a newly built home. [public_bottom_line] =>

If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, connect with a local real estate agent to explore all of your options, including the newly built homes in our area.

[published_at] => 2024-01-16T11:30:00Z [related] => Array ( ) [slug] => why-you-may-want-to-seriously-consider-a-newly-built-home [status] => published [tags] => Array ( ) [title] => Why You May Want To Seriously Consider a Newly Built Home [updated_at] => 2024-05-08T13:24:46Z [url] => /2024/01/16/why-you-may-want-to-seriously-consider-a-newly-built-home/ )

Why You May Want To Seriously Consider a Newly Built Home

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move?

209
stdClass Object
(
    [agents_bottom_line] => 

Buying a home is a powerful decision and the cornerstone of the American Dream. If finding a place to call your own is part of your dream for this year, let’s connect to start the process today.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

Buying a home is a powerful decision, and it remains at the heart of the American Dream. Unlike renting, owning a home means more than just having a place to live – it offers a sense of belonging, stability, and freedom. According to Nicole Bachaud, Senior Economist at Zillow:

The American Dream is still owning a home. There’s a lot of pent-up demand for ownership; that isn’t going to go away.”

Let’s explore just a few of the reasons why so many Americans continue to value homeownership. 

The Financial Benefits of Owning a Home

One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool. That may be why Jessica Lautz, Deputy Chief and VP of Research at the National Association of Realtors (NAR), says:

“Homeownership is the number one way to build wealth in America.”

Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. Habitat for Humanity explains:

“Overall, homeownership promotes wealth building by acting as a forced savings mechanism and through home value appreciation. Homeowners make monthly payments that increase their equity in their homes by paying down the principal balance of their mortgage. . . . In addition, owning a home promotes intergenerational homeownership and wealth building. Children of homeowners transition to homeownership earlier — lengthening the period over which they can accumulate wealth . . .”

It can also provide meaningful financial stability compared to renting. When you buy with a fixed-rate mortgage, you can lock in your monthly housing payments for the length of your home loan.

The Non-Financial Benefits of Homeownership

But, owning a home offers more than just financial benefits—it benefits you socially and emotionally too. Your home provides feelings of achievement, responsibility, and more. In a recent survey, Fannie Mae outlines just a few of these more emotionally-driven benefits, including:

“The top three were having control over what you do with your living space (94%) to having a sense of privacy and security (91%) and having a good place for your family or to raise your children (90%) . . .”

What Does That Mean for You?

If your idea of the American Dream involves greater freedom, security, and prosperity, homeownership could be a key player in bringing that dream to life. And with mortgage rates now on a downward trend, it might be a good time for you to consider making a move.

If you’re ready and able to buy, know that there are incredible benefits waiting at the end of your journey. You'll gain more than just a home – it's a place to grow your wealth and call your very own. Like Ksenia Potapov, Economist at First American says:

“...homeownership remains an important driver of wealth accumulation and the largest source of total wealth among most households.”
[created_at] => 2024-01-12T17:49:06Z [description] =>

Buying a home is a powerful decision, and it remains at the heart of the American Dream.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240112/Header-Image-pg-18.png [id] => 39062 [kcm_ig_caption] => Buying a home is a powerful decision, and it remains at the heart of the American Dream. Let’s explore just a few of the reasons why so many Americans continue to value homeownership. The Financial Benefits of Owning a Home One possible reason homeownership is viewed so highly is because owning a home is a significant wealth-building tool. Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. It can also provide meaningful financial stability compared to renting. When you buy with a fixed-rate mortgage, you can lock in your monthly housing payments for the length of your home loan. The Non-Financial Benefits of Homeownership But, owning a home offers more than just financial benefits—it benefits you socially and emotionally too. Your home provides feelings of achievement, responsibility, and more. What Does That Mean for You? If your idea of the American Dream involves greater freedom, security, and prosperity, homeownership could be a key player in bringing that dream to life. And with mortgage rates now on a downward trend, it might be a good time for you to consider making a move. If you’re ready and able to buy, know that there are incredible benefits waiting at the end of your journey. You'll gain more than just a home – it's a place to grow your wealth and call your very own. Buying a home is a powerful decision and the cornerstone of the American Dream. If finding a place to call your own is part of your dream for this year, DM me to start the process today. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Homeownership is still at the heart of the American Dream. [public_bottom_line] =>

Buying a home is a powerful decision and the cornerstone of the American Dream. If finding a place to call your own is part of your dream for this year, connect with a local real estate advisor to start the process today.

[published_at] => 2024-01-15T11:30:00Z [related] => Array ( ) [slug] => homeownership-is-still-at-the-heart-of-the-american-dream [status] => published [tags] => Array ( [0] => content-hub ) [title] => Homeownership Is Still at the Heart of the American Dream [updated_at] => 2024-01-15T11:30:49Z [url] => /2024/01/15/homeownership-is-still-at-the-heart-of-the-american-dream/ )

Homeownership Is Still at the Heart of the American Dream

Buying a home is a powerful decision, and it remains at the heart of the American Dream.

210
stdClass Object
(
    [agents_bottom_line] => 
  • If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.
  • Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years.
  • If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, let’s connect.
[assets] => Array ( [0] => stdClass Object ( [id] => 88352 [title] => Branded Infographic [description] => [url] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/image/20240111/Home-Prices-Forecast-To-Climb-Over-The-Next-5-Years-NM.jpg [asset_type] => image [categories] => Array ( ) [tags] => Array ( ) [updated_at] => 2024-01-11T18:02:27Z ) ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 8 [name] => Infographics [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => infographics [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Infografías ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 9 [name] => Home Prices [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => home-prices [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Precios ) ) [updated_at] => 2019-06-03T18:18:43Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 53 [name] => Rent vs. Buy [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => rent-vs-buy [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Alquilar Vs. Comprar ) ) [updated_at] => 2019-06-03T18:18:43Z ) [4] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:22:04Z [id] => 327 [name] => Forecasts [parent] => [parent_id] => [published_at] => 2024-04-10T16:22:19Z [slug] => forecasts [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Previsiones ) ) [updated_at] => 2024-04-10T16:22:19Z ) ) [content_type] => blog [contents] =>

[created_at] => 2024-01-11T18:08:37Z [description] =>

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240111/20240112-Home-Prices-Forecast-To-Climb-Over-The-Next-5-Years-KCM-Share.png [id] => 38796 [kcm_ig_caption] => If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028. Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years. If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, let’s connect. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Home prices forecast to climb over the next 5 years. [public_bottom_line] =>
  • If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.
  • Based on that forecast, if you bought a $400,000 house this year, experts say it could gain over $72,000 in equity over the next five years. 
  • If you're worried about falling home prices, don't be. Many experts forecast they'll keep rising for years to come. If you have questions, ask a local real estate agent.
[published_at] => 2024-01-12T11:30:00Z [related] => Array ( ) [slug] => home-prices-forecast-to-climb-over-the-next-5-years-infographic [status] => published [tags] => Array ( ) [title] => Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC] [updated_at] => 2024-04-11T20:16:24Z [url] => /2024/01/12/home-prices-forecast-to-climb-over-the-next-5-years-infographic/ )

Home Prices Forecast To Climb over the Next 5 Years [INFOGRAPHIC]

If you’re worried about what’s next for home prices, know the HPES shows experts are projecting they’ll continue to rise at least through 2028.

211
stdClass Object
(
    [agents_bottom_line] => 

If you're unsure about whether to rent or buy a home, keep in mind that owning a home can increase your overall wealth in the long run, no matter your income. To discover more about this and the many other benefits of homeownership, let’s connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 53 [name] => Rent vs. Buy [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => rent-vs-buy [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Alquilar Vs. Comprar ) ) [updated_at] => 2019-06-03T18:18:43Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:21:25Z [id] => 326 [name] => Equity [parent] => [parent_id] => [published_at] => 2024-04-10T16:21:42Z [slug] => equity [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Equidad ) ) [updated_at] => 2024-04-10T16:21:42Z ) ) [content_type] => blog [contents] =>

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s (see graph below):

One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you make your mortgage payment each month. When you own a home, your monthly mortgage payment acts like a form of forced savings, which eventually pays off when you decide to sell. As a renter, you’ll never see a financial return on the money you pay out in rent every month. Ksenia Potapov, Economist at First American, explains it like this:

“Renters don’t capture the wealth generated by house price appreciation, nor do they benefit from the equity gains generated by monthly mortgage payments . . .”

The Largest Part of Most Homeowner Net Worth Is Their Equity

Home equity does more to build the average household’s wealth than anything else. According to data from First American and the Federal Reserve, this holds true across different income levels (see graph below):

The green segment in each bar represents how much of a homeowner's net worth comes from their home equity. Based on this data, it's clear no matter what your income level is, owning a home can really boost your wealth. Nicole Bachaud, Senior Economist at Zillow, shares:

“The biggest asset most people are ever going to own is a home. Homeownership is really that financial key that helps unlock stability and wealth preservation across generations.”

If you’re ready to start building your net worth, the current real estate market offers several opportunities you should consider. For example, with mortgage rates trending lower lately, your purchasing power may be higher now than it has been in months. And, with more inventory coming to the market, there are more options for you to consider. A local real estate agent can walk you through the opportunities you have today and guide you through the process of finding your ideal home.

[created_at] => 2024-01-10T14:33:27Z [description] =>

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240110/20240111-The-Dramatic-Impact-of-Homeownership-on-Net-Worth.png [id] => 38518 [kcm_ig_caption] => If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision. Every three years, the Federal Reserve releases the Survey of Consumer Finances (SCF), which compares net worth for homeowners and renters. The latest report shows the average homeowner’s net worth is almost 40X greater than a renter’s. One reason a wealth gap exists between renters and homeowners is because when you’re a homeowner, your equity grows as your home appreciates in value and you make your mortgage payment each month. The Largest Part of Most Homeowner Net Worth Is Their Equity Home equity does more to build the average household’s wealth than anything else. According to data from First American and the Federal Reserve, this holds true across different income levels. Based on this data, it's clear no matter what your income level is, owning a home can really boost your wealth. If you’re ready to start building your net worth, the current real estate market offers several opportunities you should consider. For example, with mortgage rates trending lower lately, your purchasing power may be higher now than it has been in months. And, with more inventory coming to the market, there are more options for you to consider. A local real estate agent can walk you through the opportunities you have today and guide you through the process of finding your ideal home. If you're unsure about whether to rent or buy a home, keep in mind that owning a home can increase your overall wealth in the long run, no matter your income. To discover more about this and the many other benefits of homeownership, DM me. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => The dramatic impact of homeownership on net worth. [public_bottom_line] =>

If you're unsure about whether to rent or buy a home, keep in mind that owning a home can increase your overall wealth in the long run, no matter your income. To discover more about this and the many other benefits of homeownership, connect with a local real estate agent.

[published_at] => 2024-01-11T11:30:00Z [related] => Array ( ) [slug] => the-dramatic-impact-of-homeownership-on-net-worth [status] => published [tags] => Array ( [0] => content-hub ) [title] => The Dramatic Impact of Homeownership on Net Worth [updated_at] => 2024-04-11T20:16:38Z [url] => /2024/01/11/the-dramatic-impact-of-homeownership-on-net-worth/ )

The Dramatic Impact of Homeownership on Net Worth

If you're trying to decide whether to rent or buy a home this year, here's a powerful insight that could give you the clarity and confidence you need to make your decision.

212
stdClass Object
(
    [agents_bottom_line] => 

You want your home purchase to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own. But before you get too far down the emotional path, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s a list of things to remember when you apply for your home loan.

Don’t Deposit Large Sums of Cash

Lenders need to source your money, and cash isn’t easily traceable. Before you deposit any cash into your accounts, discuss the proper way to document your transactions with your loan officer.

Don’t Make Any Large Purchases

It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. People with new debt have higher debt-to-income ratios (how much debt you have compared to your monthly income). Since higher ratios make for riskier loans, borrowers may no longer qualify for their mortgage. Resist the temptation to make any large purchases, even for furniture or appliances.

Don’t Cosign Loans for Anyone

When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment. With that obligation comes higher debt-to-income ratios as well. Even if you promise you won’t be the one making the payments, your lender will have to count them against you.

Don’t Switch Bank Accounts

Lenders need to source and track your assets. That task is much easier when there’s consistency among your accounts. Before you transfer any money, speak with your loan officer.

Don’t Apply for New Credit

It doesn’t matter whether it’s a new credit card or a new car. When your credit report is run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Lower credit scores can determine your interest rate and possibly even your eligibility for approval.

Don’t Close Any Accounts

Many buyers believe having less available credit makes them less risky and more likely to be approved. This isn’t true. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both of those parts of your score.

Do Discuss Changes with Your Lender

Be upfront about any changes that occur or you’re expecting to occur when talking with your lender. Blips in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. If your job or employment status has changed recently, share that with your lender as well. Ultimately, it’s best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature.

[created_at] => 2024-01-09T18:00:24Z [description] =>

If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240109/20240110-Avoid-These-Common-Mistakes-After-Applying-for-a-Mortgage.png [id] => 38431 [kcm_ig_caption] => If you’re getting ready to buy a home, there are some key things to keep in mind after you apply for your mortgage and before you close. Here’s a list of things to remember when you apply for your home loan. Don’t Deposit Large Sums of Cash Lenders need to source your money, and cash isn’t easily traceable. Discuss the proper way to document your transactions with your loan officer. Don’t Make Any Large Purchases It’s not just home-related purchases that could disqualify you from your loan. Any large purchases can be red flags for lenders. Resist the temptation to make any large purchases, even for furniture or appliances. Don’t Cosign Loans for Anyone When you cosign for a loan, you’re making yourself accountable for that loan’s success and repayment. Don’t Switch Bank Accounts Lenders need to source and track your assets. Before you transfer any money, speak with your loan officer. Don’t Apply for New Credit When your credit report is run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), it will have an impact on your FICO® score. Don’t Close Any Accounts Closing accounts has a negative impact on both of those parts of your score. Do Discuss Changes with Your Lender Be upfront about any changes that occur or you’re expecting to occur when talking with your lender. Ultimately, it’s best to fully disclose and discuss your intentions with your loan officer before you do anything financial in nature. Remember, before you make any large purchases, move your money around, or make major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Avoid these common mistakes after applying for a mortgage. [public_bottom_line] =>

You want your home purchase to go as smoothly as possible. Remember, before you make any large purchases, move your money around, or make major life changes, be sure to consult your lender – someone who’s qualified to explain how your financial decisions may impact your home loan.

[published_at] => 2024-01-10T11:30:00Z [related] => Array ( ) [slug] => avoid-these-common-mistakes-after-applying-for-a-mortgage [status] => published [tags] => Array ( [0] => content-hub ) [title] => Avoid These Common Mistakes After Applying for a Mortgage [updated_at] => 2024-01-10T11:30:45Z [url] => /2024/01/10/avoid-these-common-mistakes-after-applying-for-a-mortgage/ )

Avoid These Common Mistakes After Applying for a Mortgage

If you’re getting ready to buy a home, it’s exciting to jump a few steps ahead and think about moving in and making it your own.

213
stdClass Object
(
    [agents_bottom_line] => 

If you want to know how much equity you have in your home, let’s connect. That way you have someone who can do a professional equity assessment report on how much you’ve built up over time. Then let’s talk through how you can use it to help you reach your goals.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:21:25Z [id] => 326 [name] => Equity [parent] => [parent_id] => [published_at] => 2024-04-10T16:21:42Z [slug] => equity [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Equidad ) ) [updated_at] => 2024-04-10T16:21:42Z ) ) [content_type] => blog [contents] =>

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this:

“. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.”

That means your equity grows as you pay down your home loan over time and as home values climb. While it’s true home prices dipped slightly last year, they rebounded and have been climbing in many areas since then. Here’s why that price growth is good news for you.

In the latest Equity Insights Report, Selma Hepp, Chief Economist at CoreLogic, explains:

With price gains continuing to help homeowners build wealth, equity has reached a new high and regained losses that resulted from declines last year. And while the average U.S. homeowner gained over $20,000 in additional equity compared with the third quarter of 2022, some markets are seeing larger increases as price growth catches up.”

And that figure is just for the last year. To help you really understand how that number can add up over time, the report also says the average homeowner with a mortgage has more than $300,000 in equity. That much equity can have a big impact.

Here are a few examples of how you can put your home equity to work for you.

1. Buy a Home That Fits Your Needs

If your current space no longer meets your needs, it might be time to think about moving to a bigger home. And if you’ve got too much space, downsizing to a smaller one could be just right. Either way, you can put your equity toward a down payment on something that fits your changing lifestyle.

2. Reinvest in Your Current Home

And, if you’re not ready to move just yet, you can use the equity you have to improve your current home. But it’s important to consider the long-term benefits certain upgrades can bring to your home’s value. A real estate agent is a great resource on which projects to prioritize to get the greatest return on your investment when you sell later on.

3. Pursue Personal Ambitions

Home equity can also serve as a catalyst for realizing your life-long dreams. That could mean investing in a new business venture, retirement, or funding an education. While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life.

4. Understand Your Options to Avoid Foreclosure

While the number of foreclosure filings remains below the norm, there are still some homeowners who go into foreclosure each year. If you’re in a tough spot financially, having a clear understanding of your options can help. Equity can act as a cushion if you’re not able to make your mortgage payments on time.

[created_at] => 2024-01-04T15:23:17Z [description] =>

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240104/20240109-Ways-Your-Home-Equity-Can-Help-You-Reach-Your-Goals.png [id] => 37885 [kcm_ig_caption] => If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity. If you’re not familiar with that term, Freddie Mac defines it like this: “. . . your home’s equity is the difference between how much your home is worth and how much you owe on your mortgage.” That means your equity grows as you pay down your home loan over time and as home values climb. Here are a few examples of how you can put your home equity to work for you. 1. Buy a Home That Fits Your Needs If your current space no longer meets your needs, you can put your equity toward a down payment on something that fits your changing lifestyle. 2. Reinvest in Your Current Home A real estate agent is a great resource on which projects to prioritize to get the greatest return on your investment when you sell later on. 3. Pursue Personal Ambitions While you shouldn’t use your equity for unnecessary spending, using it responsibly for something meaningful and impactful can really make a difference in your life. 4. Understand Your Options to Avoid Foreclosure While the number of foreclosure filings remains below the norm, there are still some homeowners who go into foreclosure each year. Equity can act as a cushion if you’re not able to make your mortgage payments on time. If you want to know how much equity you have in your home, DM me. That way you have someone who can do a professional equity assessment report on how much you’ve built up over time. Then let’s talk through how you can use it to help you reach your goals. [kcm_ig_hashtags] => expertanswers,stayinformed,staycurrent,powerfuldecisions,confidentdecisions,realestate,homevalues,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Ways your home equity can help you reach your goals. [public_bottom_line] =>

If you want to know how much equity you have in your home, connect with a local real estate agent. They can do a professional equity assessment report on how much you’ve built up over time and talk you through how you can use it to help you reach your goals.

[published_at] => 2024-01-09T11:30:00Z [related] => Array ( ) [slug] => ways-your-home-equity-can-help-you-reach-your-goals [status] => published [tags] => Array ( [0] => content-hub ) [title] => Ways Your Home Equity Can Help You Reach Your Goals [updated_at] => 2024-04-11T20:16:51Z [url] => /2024/01/09/ways-your-home-equity-can-help-you-reach-your-goals/ )

Ways Your Home Equity Can Help You Reach Your Goals

If you’ve owned your house for at least a couple of years, there’s something you’re going to want to know more about – and that’s home equity.

214
stdClass Object
(
    [agents_bottom_line] => 

If you’re looking to buy a home, you should know the recent downward trend in mortgage rates is good news for your move. Let’s connect and plan your next steps.

[assets] => Array ( ) [banner_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240129/STM-Banner-20221219-Blog.jpg [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac (see graph below):

 

This recent trend is great news for buyers. As a recent article from Bankrate says:

“The rate cool-off somewhat eases the housing affordability squeeze.”

And according to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA):

“MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .”

Here’s a bit more context on how this could help with your plans to buy a home.

How Mortgage Rates Affect Your Search for a Home

Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to become a homeowner. The chart below illustrates how your ability to afford a home changes when mortgage rates shift. Imagine your budget allows for a monthly payment between $2,400 and $2,500. The green part in the chart shows payments in that range or lower (see chart below):

 

As you can see, even small changes in rates can affect your budget and the loan amount you can afford.

Get Help from Reliable Experts To Understand Your Budget and Plan Ahead

When you're looking to buy a home, it's important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you.

By looking at the numbers and the latest data together, then adjusting your strategy based on today's rates, you'll be better prepared and ready to buy a home.

[created_at] => 2024-01-04T21:16:44Z [description] =>

If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240104/20240108-What-Lower-Mortgage-Rates-Mean-for-Your-Purchasing-Power.png [id] => 37991 [kcm_ig_caption] => If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month. Fortunately, rates for 30-year fixed mortgages have come down significantly since the end of October and are currently under 7%, according to Freddie Mac. This recent trend is great news for buyers. As a recent article from Bankrate says: “The rate cool-off somewhat eases the housing affordability squeeze.” And according to Edward Seiler, AVP of Housing Economics and Executive Director of the Research Institute for Housing America at the Mortgage Bankers Association (MBA): “MBA expects that affordability conditions will continue to improve as mortgage rates decline . . .” Here’s a bit more context on how this could help with your plans to buy a home. How Mortgage Rates Affect Your Search for a Home Understanding the connection between mortgage rates and your monthly home payment is crucial for your plans to become a homeowner. Even small changes in rates can affect your budget and the loan amount you can afford. Get Help from Reliable Experts To Understand Your Budget and Plan Ahead When you're looking to buy a home, it's important to get guidance from a local real estate agent and a trusted lender. They can help you explore different mortgage options, understand what makes mortgage rates go up or down, and how those changes impact you. By looking at the numbers and the latest data together, then adjusting your strategy based on today's rates, you'll be better prepared and ready to buy a home. If you’re looking to buy a home, you should know the recent downward trend in mortgage rates is good news for your move. DM me and plan your next steps. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => What lower mortgage rates mean for your purchasing power. [public_bottom_line] =>

If you’re looking to buy a home, you should know the recent downward trend in mortgage rates is good news for your move. Team up with a trusted real estate agent and lender to plan your next steps. 

[published_at] => 2024-01-08T11:30:00Z [related] => Array ( ) [slug] => what-lower-mortgage-rates-mean-for-your-purchasing-power [status] => published [tags] => Array ( [0] => content-hub ) [title] => What Lower Mortgage Rates Mean for Your Purchasing Power [updated_at] => 2024-03-28T16:55:06Z [url] => /2024/01/08/what-lower-mortgage-rates-mean-for-your-purchasing-power/ )

What Lower Mortgage Rates Mean for Your Purchasing Power

If you want to buy a home, it's important to know how mortgage rates impact what you can afford and how much you’ll pay each month.

215
stdClass Object
(
    [agents_bottom_line] => 
    [assets] => Array
        (
            [0] => stdClass Object
                (
                    [id] => 87716
                    [title] => Branded Infographic
                    [description] => 
                    [url] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/image/20240104/Achieving-Your-Homebuying-Dreams-in-2024-NM.png
                    [asset_type] => image
                    [categories] => Array
                        (
                        )

                    [tags] => Array
                        (
                        )

                    [updated_at] => 2024-01-04T18:03:26Z
                )

        )

    [banner_image] => 
    [can_share] => no
    [categories] => Array
        (
            [0] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 5
                    [name] => For Buyers
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2019-06-03T18:18:43Z
                    [slug] => buyers
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Para los compradores
                                )

                        )

                    [updated_at] => 2019-06-03T18:18:43Z
                )

            [1] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 8
                    [name] => Infographics
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2019-06-03T18:18:43Z
                    [slug] => infographics
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Infografías
                                )

                        )

                    [updated_at] => 2019-06-03T18:18:43Z
                )

            [2] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 11
                    [name] => First-Time Buyers
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2024-04-10T15:59:33Z
                    [slug] => first-time-buyers
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Compradores de vivienda por primera vez
                                )

                        )

                    [updated_at] => 2024-04-10T15:59:33Z
                )

            [3] => stdClass Object
                (
                    [category_type] => standard
                    [children] => 
                    [created_at] => 2019-06-03T18:18:43Z
                    [id] => 38
                    [name] => Move-Up
                    [parent] => 
                    [parent_id] => 
                    [published_at] => 2024-04-10T16:00:35Z
                    [slug] => move-up
                    [status] => public
                    [translations] => stdClass Object
                        (
                            [es] => stdClass Object
                                (
                                    [name] => Compradores de casa mas grande
                                )

                        )

                    [updated_at] => 2024-04-10T16:00:35Z
                )

        )

    [content_type] => blog
    [contents] => 

[created_at] => 2024-01-04T18:06:28Z [description] =>

Planning to buy a home in 2024? Here’s what to focus on.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240104/Achieving-Your-Homebuying-Dreams-in-2024-KCM-Share.png [gif] => https://videos.mykcm.com/videos/gifs/865925710954.gif [hashtags] => homegoals,buyingahome,realestategoals [id] => 37919 [kcm_ig_caption] => Planning to buy a home in 2024? Here’s what to focus on. Improve your credit score, plan for your down payment, get pre-approved, and decide what’s most important to you. Let’s connect so you have expert advice on how to achieve your homebuying goals this year. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => How to achieve your homebuying dreams in 2024. [public_bottom_line] => [published_at] => 2024-01-05T11:30:00Z [related] => Array ( ) [slug] => achieving-your-homebuying-dreams-in-2024-infographic [sources] => [status] => published [tags] => Array ( ) [thumbnail_timestamp] => 4500 [title] => Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC] [updated_at] => 2024-01-05T11:30:41Z [url] => /2024/01/05/achieving-your-homebuying-dreams-in-2024-infographic/ )

Achieving Your Homebuying Dreams in 2024 [INFOGRAPHIC]

Planning to buy a home in 2024? Here’s what to focus on.

216
stdClass Object
(
    [agents_bottom_line] => 

So, before you start mentally arranging furniture in your dream home, work with a trusted lender to get your pre-approval set. It’ll save you time, stress, and a lot of headaches that could come up along the way without it. The reality is, the more prepared you are, the more likely you are to land the home you’re longing for.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why.

While home price growth is moderating and mortgage rates have been coming down in recent weeks, affordability is still tight.  At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer.

What Pre-Approval Does for You

To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they’re willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this:

A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.”

Getting pre-approved starts to put you in the mindset of seeing the bigger financial picture, one step at a time. And the key is actually more than just getting a pre-approval letter from your lender. The combination of pre-approval and strategic budgeting is your golden ticket to understanding what you can actually afford. It saves you from painful heartaches down the road so you don’t fall in love with a house that might be out of reach.

Pre-Approval Helps Show Sellers You’re a Serious Buyer

But that's just the beginning. Let’s face it, there are more people looking to buy than there are homes available for sale, and that creates competition among homebuyers. That means you could see yourself in a multiple-offer scenario when you get ready to make your move. But getting pre-approved for a mortgage can help you stand out from other buyers.

In today's fast-moving housing market, having that pre-approval in your back pocket can be your secret weapon. When sellers see you're pre-approved, it tells them you're a strategic and serious buyer. In a world of multiple offers, that's a big deal. As an article from the Wall Street Journal (WSJ) says:

If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.”

Pre-approval shows sellers you’re more than just a window shopper. You’re a buyer who’s already undergone a credit and financial check, making it more likely that the sale will move forward without unexpected delays or issues. Sellers love that because they see your offer as a reliable one. A win-win, right?

[created_at] => 2023-12-20T20:29:49Z [description] =>

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231220/20240103-Why-Pre-Approval-Is-Your-Homebuying-Game-Changer.png [id] => 37134 [kcm_ig_caption] => If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why. Affordability is tight with today’s mortgage rates and rising home prices. At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer. What Pre-Approval Does for You To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they’re willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this: “A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.” Getting pre-approved starts to put you in the mindset of seeing the bigger financial picture, one step at a time. And the key is actually more than just getting a pre-approval letter from your lender. The combination of pre-approval and strategic budgeting is your golden ticket to understanding what you can actually afford. It saves you from painful heartaches down the road so you don’t fall in love with a house that might be out of reach. Pre-Approval Helps Show Sellers You’re a Serious Buyer But that's just the beginning. Let’s face it, there are more people looking to buy than there are homes available for sale, and that creates competition among homebuyers. That means you could see yourself in a multiple-offer scenario when you get ready to make your move. But getting pre-approved for a mortgage can help you stand out from other buyers. In today's fast-moving housing market, having that pre-approval in your back pocket can be your secret weapon. When sellers see you're pre-approved, it tells them you're a strategic and serious buyer. In a world of multiple offers, that's a big deal. As an article from the Wall Street Journal (WSJ) says: “If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.” Pre-approval shows sellers you’re more than just a window shopper. You’re a buyer who’s already undergone a credit and financial check, making it more likely that the sale will move forward without unexpected delays or issues. Sellers love that because they see your offer as a reliable one. A win-win, right? So, before you start mentally arranging furniture in your dream home, work with a trusted lender to get your pre-approval set. It’ll save you time, stress, and a lot of headaches that could come up along the way without it. The reality is, the more prepared you are, the more likely you are to land the home you’re longing for. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => Why pre-approval is your homebuying game changer. [public_bottom_line] =>

So, before you start mentally arranging furniture in your dream home, let’s connect to get your pre-approval set. It’ll save you time, stress, and a lot of headaches that could come up along the way without it. The reality is, the more prepared you are, the more likely you are to land the home you’re longing for.

[published_at] => 2024-01-04T11:30:00Z [related] => Array ( ) [slug] => why-pre-approval-is-your-homebuying-game-changer [status] => published [tags] => Array ( ) [title] => Why Pre-Approval Is Your Homebuying Game Changer [updated_at] => 2024-01-04T11:30:40Z [url] => /2024/01/04/why-pre-approval-is-your-homebuying-game-changer/ )

Why Pre-Approval Is Your Homebuying Game Changer

If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip.

217
stdClass Object
(
    [agents_bottom_line] => 

If you’re thinking about buying a home, you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, making sure you have the latest information can help you make an informed decision. Let’s connect so you can stay up to date on what’s happening and why this is such good news for you.

[assets] => Array ( ) [banner_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240129/STM-Banner-GettyImages-578078246.jpg [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 9 [name] => Home Prices [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => home-prices [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Precios ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [3] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.

Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028 (see the graph below):

So, why does this matter to you? While the percent of appreciation may not be as high as it was in recent years, what’s important to focus on is that this survey says we’ll see prices rise, not fall, for at least the next 5 years.

And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too. It means, by buying now, your home will likely grow in value, and you should gain home equity in the years ahead. But, if you wait, based on these forecasts, the home will only cost you more later on. 

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates spiked up in response to economic uncertainty, inflation, and more. But there’s an encouraging sign for the market and mortgage rates. Inflation is moderating, and here’s why this is such a big deal if you’re looking to buy a home.

When inflation cools, mortgage rates generally fall in response. That’s exactly what we’ve seen in recent weeks. And, now that the Federal Reserve has signaled they’re pausing their Federal Funds Rate increases and may even cut rates in 2024, experts are even more confident we’ll see mortgage rates come down.

Danielle Hale, Chief Economist at Realtor.com, explains:

. . . mortgage rates will continue to ease in 2024 as inflation improves and Fed rate cuts get closer. . . . a key factor in starting to provide affordability relief to homebuyers.”

As an article from the National Association of Realtors (NAR) says:

Mortgage rates likely have peaked and are now falling from their recent high of nearly 8%. . . . This likely will improve housing affordability and entice more home buyers to return to the market . . .”

No one can say with absolute certainty where mortgage rates will go from here. But the recent decline and the latest decision from the Federal Reserve to stop their rate increases, signals there’s hope on the horizon. While we may see some volatility here and there, affordability should improve as rates continue to ease.  

[created_at] => 2024-01-02T20:38:18Z [description] =>

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20240102/20240103-Thinking-About-Buying-a-Home-Ask-Yourself-These-Questions.png [id] => 37719 [kcm_ig_caption] => If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise. 1. Where Do I Think Home Prices Are Heading? One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists. According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028. And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too. 2. Where Do I Think Mortgage Rates Are Heading? Over the past year, mortgage rates spiked up in response to economic uncertainty, inflation, and more. But there’s an encouraging sign for the market and mortgage rates. Inflation is moderating, and here’s why this is such a big deal if you’re looking to buy a home. No one can say with absolute certainty where mortgage rates will go from here. But the recent decline and the latest decision from the Federal Reserve to stop their rate increases, signals there’s hope on the horizon. If you’re thinking about buying a home, you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, making sure you have the latest information can help you make an informed decision. DM me so you can stay up to date on what’s happening and why this is such good news for you. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Thinking about buying a home? Ask yourself these questions. [public_bottom_line] =>

If you’re thinking about buying a home, you need to know what’s expected with home prices and mortgage rates. While no one can say for certain where they’ll go, making sure you have the latest information can help you make an informed decision. Connect with a trusted local real estate agent so you can stay up to date on what’s happening and why this is such good news for you.

[published_at] => 2024-01-03T11:30:00Z [related] => Array ( ) [slug] => thinking-about-buying-a-home-ask-yourself-these-questions [status] => published [tags] => Array ( [0] => content-hub ) [title] => Thinking About Buying a Home? Ask Yourself These Questions [updated_at] => 2024-03-28T16:55:40Z [url] => /2024/01/03/thinking-about-buying-a-home-ask-yourself-these-questions/ )

Thinking About Buying a Home? Ask Yourself These Questions

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.

218
stdClass Object
(
    [agents_bottom_line] => 

It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Let’s connect to determine what happened, and what changes you should make to get your house back on the market.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to think about as you figure out what to do next.

Did You Limit Access to Your House?

One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After all, minimal access means minimal exposure to buyers. ShowingTime advises:

“. . . do your best to be as flexible as possible when granting access to your house for showings.”

Sometimes, the most determined buyers might come from far away. Since they’re traveling to see your house, they may not be able to change their plans easily if you only offer limited times for showings. So, try to make your house available as much as you can to accommodate them. It's simple – if no one’s able to look at it, how will it sell?

Did You Make Your House Stand Out?

When you're selling your house, the old saying matters: you never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to boost your home’s curb appeal so you can make an impact upfront. As an article from U.S. News says:

“After all, if people drive by, but aren’t interested enough to walk through the front door, you’ll never sell your house.”

But don’t let that impact stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Plus, a fresh coat of paint or thorough floor cleaning can work wonders in sprucing up the house for potential buyers.

Did You Price Your House at Market Value?

Setting the right price is key. While it might be tempting to push the price higher to maximize your profit, overpricing your house can actually turn off potential buyers and slow down the selling process. Forbes notes:

“Pricing a home too high could lead to a slower sale or force the seller to drop their price.”

If your house is priced higher than others like it, it may discourage buyers, resulting in increased time on the market. Pay attention to the feedback people give your agent during open houses and showings. If lots of people are saying the same thing, it might be a good idea to think about lowering the price.

For all these insights and more, rely on a trusted real estate agent. A great agent will offer expert advice on relisting your house with effective strategies to get it sold.

[created_at] => 2023-12-20T20:00:03Z [description] =>

If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231220/20240102-Things-To-Consider-If-Your-House-Didn-t-Sell.png [featured_image_meta] => [id] => 37126 [kcm_ig_caption] => If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment. Understandably, you're probably wondering what may have gone wrong. Here are three questions to think about as you figure out what to do next. Did You Limit Access to Your House? One of the biggest mistakes you can make when selling your house is restricting the days and times when potential buyers can tour it. Being flexible with your schedule is important, even though it might feel a bit stressful to drop everything and leave when buyers want to see it. After all, minimal access means minimal exposure to buyers. Did You Make Your House Stand Out? When you're selling your house, the old saying matters: you never get a second chance to make a first impression. Putting in the work to make the exterior of your home look nice is just as important as how you stage it inside. Freshen up your landscaping to boost your home’s curb appeal so you can make an impact upfront. But don’t let that impact stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Did You Price Your House at Market Value? Setting the right price is key. While it might be tempting to push the price higher to maximize your profit, overpricing your house can actually turn off potential buyers and slow down the selling process. It’s natural to feel disappointed when your listing has expired and your house didn’t sell. DM me to determine what happened, and what changes you should make to get your house back on the market. [kcm_ig_hashtags] => sellyourhouse,moveuphome,dreamhome,realestate,homeownership,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,justsold,keepingcurrentmatters [kcm_ig_quote] => Things to consider if your house didn’t sell. [public_bottom_line] =>

It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Connect with a reliable real estate agent to determine what happened, and what changes you should make to get your house back on the market.

[published_at] => 2024-01-02T11:30:00Z [related] => Array ( ) [slug] => things-to-consider-if-your-house-didnt-sell [status] => published [tags] => Array ( [0] => content-hub ) [title] => Things To Consider If Your House Didn’t Sell [updated_at] => 2024-01-02T11:30:39Z [url] => /2024/01/02/things-to-consider-if-your-house-didnt-sell/ )

Things To Consider If Your House Didn’t Sell

If your listing has expired and your house didn’t sell, it's completely normal to feel a mix of frustration and disappointment.

219
stdClass Object
(
    [agents_bottom_line] => 

Let’s connect to plan how to make your homeownership dreams a reality in 2024.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2024-04-10T16:19:38Z [id] => 323 [name] => Buying Tips [parent] => [parent_id] => [published_at] => 2024-04-10T16:19:44Z [slug] => buying-tips [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Consejos de compra ) ) [updated_at] => 2024-04-10T16:19:44Z ) ) [content_type] => blog [contents] =>

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

Over the last year, the economy had a big impact on the housing market, and likely on your wallet too. That’s why it’s critical to have a clear picture of not just the market today, but also on what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at Realtor.comexplains:

The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so that you can stay in your home long enough that buying is a sound financial decision.

Here are a few things to think through as you define your goals for 2024.

1. Know Your Why

You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many compelling reasons to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time. Use your why and your motivation as a guidepost in partnership with an expert advisor to make sure your move gives you a lasting sense of accomplishment.

2. Figure Out What Your Next Home Needs To Look Like

You know you want to move, but how would you describe your dream home? The number of homes for sale has grown recently, and that could mean more options to choose from when you buy. But overall housing supply is still lower than more normal years in the market, so you’ll have to work closely with a pro to find what you’re looking for. Just be sure to keep your budget in mind as you balance your wants and needs. The better you understand what’s essential and where you can be flexible, the easier it will be to find a home that’s right for you.

3. Determine if You’re Ready To Buy

Getting clear on your budget and available savings is essential before you get too far into the process. Partnering with a local agent and a lender early is the best way to make sure you’re in a good position to buy. This could include planning how much to save for a down payment, getting pre-approved for a home loan, and assessing your current home equity if you’re selling your existing house.

A Professional Will Guide You Through Every Step of the Process

Buying or selling a home takes expertise to navigate. If that feels a bit overwhelming, that’s normal. Don’t let uncertainty hold you back from your goals this year. A trusted expert will help you bridge that gap and give you the facts and advice you need about today’s housing market.

[created_at] => 2023-12-20T19:17:57Z [description] =>

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231220/20240101-3-Keys-To-Hitting-Your-Homeownership-Goals-in-2024.png [id] => 37120 [kcm_ig_caption] => If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus. 1. Know Your Why You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many compelling reasons to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time. Use your why and your motivation as a guidepost in partnership with an expert advisor to make sure your move gives you a lasting sense of accomplishment. 2. Figure Out What Your Next Home Needs To Look Like You know you want to move, but how would you describe your dream home? The number of homes for sale has grown recently, and that could mean more options to choose from when you buy. But overall housing supply is still lower than more normal years in the market, so you’ll have to work closely with a pro to find what you’re looking for. Just be sure to keep your budget in mind as you balance your wants and needs. 3. Determine if You’re Ready To Buy Getting clear on your budget and available savings is essential before you get too far into the process. Partnering with a local agent and a lender early is the best way to make sure you’re in a good position to buy. This could include planning how much to save for a down payment, getting pre-approved for a home loan, and assessing your current home equity if you’re selling your existing house. DM me to plan how to make your homeownership dreams a reality in 2024. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => 3 keys to hitting your homeownership goals in 2024. [public_bottom_line] =>

Work with a local real estate agent and build a team of industry professionals to be sure you hit your homeownership goals in 2024.

[published_at] => 2024-01-01T11:30:00Z [related] => Array ( ) [slug] => 3-keys-to-hitting-your-homeownership-goals-in-2024 [status] => published [tags] => Array ( ) [title] => 3 Keys To Hitting Your Homeownership Goals in 2024 [updated_at] => 2024-04-11T20:17:11Z [url] => /2024/01/01/3-keys-to-hitting-your-homeownership-goals-in-2024/ )

3 Keys To Hitting Your Homeownership Goals in 2024

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

220
stdClass Object
(
    [agents_bottom_line] => 
  • When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference.
  • They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved.
  • Let’s connect so you have expert advice throughout the entire process.
[assets] => Array ( [0] => stdClass Object ( [id] => 87688 [title] => Branded Infographic [description] => [url] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/image/20231219/The-Benefits-of-Working-With-an-Agent-NM.jpg [asset_type] => image [categories] => Array ( ) [tags] => Array ( ) [updated_at] => 2023-12-19T20:52:56Z ) ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 8 [name] => Infographics [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => infographics [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Infografías ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

[created_at] => 2023-12-19T20:54:57Z [description] =>

When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference. 

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231219/The-Benefits-of-Working-With-an-Agent-KCM-Share.png [id] => 37051 [kcm_ig_caption] => When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference. They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved. DM me so you have expert advice throughout the entire process. [kcm_ig_hashtags] => sellyourhouse,moveuphome,dreamhome,realestate,homeownership,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,justsold,keepingcurrentmatters [kcm_ig_quote] => Here’s the benefits of working with an agent when you sell your house. [public_bottom_line] =>
  • When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference.
  • They’ll explain what’s happening today, what that means for you, and how to price and market your house. They’re also skilled negotiators and well versed in the contracts and disclosures involved. 
  • Partner with a trusted real estate professional so you have expert advice throughout the entire process.
[published_at] => 2023-12-29T11:30:00Z [related] => Array ( ) [slug] => the-benefits-of-working-with-an-agent-when-you-sell-your-house-infographic [status] => published [tags] => Array ( ) [title] => The Benefits of Working With an Agent When You Sell Your House [INFOGRAPHIC] [updated_at] => 2023-12-29T11:30:35Z [url] => /2023/12/29/the-benefits-of-working-with-an-agent-when-you-sell-your-house-infographic/ )

The Benefits of Working With an Agent When You Sell Your House [INFOGRAPHIC]

When it comes to selling your house, the expertise of a trusted real estate agent can make a big difference. 

221
stdClass Object
(
    [agents_bottom_line] => 

When buying a home, being informed about what to save for is key. Let’s connect so you’ll have an expert on your side to answer any questions you have along the way.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. One way to ease those concerns is to make sure you understand some of the costs you may encounter up front. And to do that, always turn to trusted real estate professionals. They can help you set a plan and take a strategic look at your budget and your process before you even get started.

Here are just a few things experts say you should be thinking about.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required. An article from the Mortgage Reports explains why that’s not always the case:

“The idea that you have to put 20% down on a house is a myth. . . . The right amount depends on your current savings and your home buying goals.”

To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires. The more you know ahead of time, the easier the process will be.

2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various parties involved in your transaction. Bankrate explains:

Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage so it’s important to be financially prepared for this expense.”

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house. According to Realtor.com, it’s usually between 1% and 2% of the total home price.

This deposit works like a credit. It’s not an added expense – it’s paying a portion of your costs upfront. You’re using some of the money you’ve already saved for your purchase to show the seller you’re committed and serious about buying their house. Realtor.com describes how it works as part of your sale:

It tells the real estate seller you’re in earnest as a buyer . . . Assuming that all goes well and the buyer’s good-faith offer is accepted by the seller, the earnest money funds go toward the down payment and closing costs. In effect, earnest money is just paying more of the down payment and closing costs upfront.”

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your local area. They’ll advise you on what moves you should make so you can make the best possible decisions throughout the buying process.

[created_at] => 2023-12-20T18:23:35Z [description] =>

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231220/20231228-What-You-Need-To-Know-About-Saving-for-a-Home-in-2024.png [featured_image_meta] => [id] => 37112 [kcm_ig_caption] => If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be. Here are just a few things experts say you should be thinking about. 1. Down Payment Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required. To understand your options, partner with trusted real estate professionals to go over the various loan types, down payment assistance programs, and what each one requires. 2. Closing Costs Bankrate explains: “Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the mortgage so it’s important to be financially prepared for this expense.” 3. Earnest Money Deposit Realtor.com describes how it works as part of your sale: “It tells the real estate seller you’re in earnest as a buyer . . . Assuming that all goes well and the buyer’s good-faith offer is accepted by the seller, the earnest money funds go toward the down payment and closing costs. In effect, earnest money is just paying more of the down payment and closing costs upfront.” It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your local area. When buying a home, being informed about what to save for is key. DM me so you’ll have an expert on your side to answer any questions you have along the way. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => What you need to know about saving for a home in 2024. [public_bottom_line] =>

When buying a home, being informed about what to save for is key. Partner with a local real estate advisor so you’ll have an expert on your side to answer any questions you have along the way.

[published_at] => 2023-12-28T11:30:00Z [related] => Array ( ) [slug] => what-you-need-to-know-about-saving-for-a-home-in-2024 [status] => published [tags] => Array ( ) [title] => What You Need To Know About Saving for a Home in 2024 [updated_at] => 2023-12-28T11:30:35Z [url] => /2023/12/28/what-you-need-to-know-about-saving-for-a-home-in-2024/ )

What You Need To Know About Saving for a Home in 2024

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.

222
stdClass Object
(
    [agents_bottom_line] => 

Retirement can bring about major changes in your life, including what you need from your home. Let’s connect to explore the available homes in our area.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life.

Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as you decide whether or not to sell and make a move.

How Long You’ve Been in Your Home

From 1985 to 2008, the average length of time homeowners typically stayed in their homes was only six years. But according to the National Association of Realtors (NAR), that number is rising today, meaning many homeowners are living in their houses even longer (see graph below):

When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you.

How Much Equity You’ve Gained

Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. That’s because the longer you’ve been in your house, the more likely it’s grown in value due to home price appreciation. Data from the Federal Housing Finance Agency (FHFA) illustrates that point (see graph below):

While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time.

Consider Your Retirement Goals

Whether you're looking to downsize, relocate to a dream destination, or simply be closer to loved ones, your home equity can be a key to realizing your homeownership goals. NAR shares that for recent home sellers, the primary reason to move was to be closer to loved ones.

Whatever your home goals are, a trusted real estate agent can work with you to find the best option. They’ll help you sell your current house and guide you through buying the home that’s right for your lifestyle today.

[created_at] => 2023-12-20T17:43:34Z [description] =>

If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231220/20231227-Retiring-Soon-Why-Moving-Might-Be-the-Perfect-Next-Step.png [id] => 37107 [kcm_ig_caption] => If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about as you decide whether or not to sell and make a move. How Long You’ve Been in Your Home When you live in a home for a significant period of time, it’s natural for you to experience a number of changes in your life while you’re in that house. As those life changes and milestones happen, your needs may change. And if your current home no longer meets them, you may have better options waiting for you. How Much Equity You’ve Gained Additionally, if you’ve been in your house for more than a few years, you’ve likely built-up significant equity that can fuel your next move. While home price growth varies by state and local area, the national average shows the typical homeowner who’s been in their house for five years saw it increase in value by nearly 60%. And the average homeowner who’s owned their home since 1991 saw it more than triple in value over that time. Consider Your Retirement Goals Whether you're looking to downsize, relocate to a dream destination, or simply be closer to loved ones, your home equity can be a key to realizing your homeownership goals. Whatever your home goals are, a trusted real estate agent can work with you to find the best option. Retirement can bring about major changes in your life, including what you need from your home. DM me to explore the available homes in our area. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => Retiring soon? Here’s why moving might be the perfect next step. [public_bottom_line] =>

Retirement can bring about major changes in your life, including what you need from your home. Connect with a local real estate agent to explore the available homes in your area.

[published_at] => 2023-12-27T11:30:00Z [related] => Array ( ) [slug] => retiring-soon-why-moving-might-be-the-perfect-next-step [status] => published [tags] => Array ( ) [title] => Retiring Soon? Why Moving Might Be the Perfect Next Step [updated_at] => 2023-12-27T11:30:34Z [url] => /2023/12/27/retiring-soon-why-moving-might-be-the-perfect-next-step/ )

Retiring Soon? Why Moving Might Be the Perfect Next Step

If you’re thinking about retirement or have already retired this year, it’s a good time to consider if your current house is still a good fit for the next chapter in your life.

223
stdClass Object
(
    [agents_bottom_line] => 

As you set your sights on buying a home in the upcoming year, a focus on boosting your credit score could help you get a better mortgage rate when the time comes. If you want to learn more, connect with a trusted lender.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score.

Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. An article from CNBC explains:

“When it comes to mortgages, a higher credit score can save you thousands of dollars in the long run. This is because your credit score directly impacts your mortgage rate, which determines the amount of interest you’ll pay over the life of the loan.”

This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today.

According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect. An article from Business Insider explains generally how your FICO score range can make an impact:

“. . . you don’t need a perfect credit score to buy a house. . . . Aiming to get your credit score in the ‘Good’ range (670 to 739) would be a great start towards qualifying for a mortgage. But if you’re wanting to qualify for the lowest rates, try to get your score within the ‘Very Good’ range (740 to 799).”

Working with a trusted lender is the best way to get more information on how your credit score could factor into your home loan and the mortgage rate. As FICO says:

“While many lenders use credit scores like FICO Scores to help them make lending decisions, each lender has its own strategy, including the level of risk it finds acceptable. There is no single “cutoff score” used by all lenders and there are many additional factors that lenders may use to determine your actual interest rates.”

If you’re looking for ways to improve your score, Experian highlights some things you may want to focus on:

  • Your Payment History: Late payments can have a negative impact by dropping your score. Focus on making payments on time and paying any existing late charges quickly.
  • Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible.
  • Credit Applications: If you’re looking to buy something, don’t apply for additional credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score.

A lender will help you navigate the process from start to finish, from assessing which range your score falls in to telling you more about the specifics for each loan type.

[created_at] => 2023-12-19T20:31:27Z [description] =>

As the new year approaches, the idea of buying a home might be on your mind.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231219/20231226-Get-Ready-To-Buy-a-Home-by-Improving-Your-Credit-Score.png [featured_image_meta] => [id] => 37044 [kcm_ig_caption] => As the new year approaches, the idea of buying a home might be on your mind. It’s an exciting goal to set, and it's never too early to start laying the groundwork. One crucial step to prepare for homeownership is building a solid credit score. Lenders review your credit to assess your ability to make payments on time, pay back debts, and more. It’s also a factor that helps determine your mortgage rate. This means your credit score may feel even more important to your homebuying plans right now since mortgage rates are a key factor in affordability, especially today. According to the Federal Reserve Bank of New York, the median credit score in the U.S. for those taking out a mortgage is 770. But that doesn’t mean your credit score has to be perfect. If you’re looking for ways to improve your score, Experian highlights some things you may want to focus on: • Your Payment History: Late payments can have a negative impact by dropping your score. Focus on making payments on time and paying any existing late charges quickly. • Your Debt Amount (relative to your credit limits): When it comes to your available credit amount, the less you’re using, the better. Focus on keeping this number as low as possible. • Credit Applications: If you’re looking to buy something, don’t apply for additional credit. When you apply for new credit, it could result in a hard inquiry on your credit that drops your score. As you set your sights on buying a home in the upcoming year, a focus on boosting your credit score could help you get a better mortgage rate when the time comes. If you want to learn more, connect with a trusted lender. [kcm_ig_hashtags] => firsttimehomebuyer,opportunity,housingmarket,househunting,makememove,homegoals,houseshopping,housegoals,investmentproperty,emptynest,downsizing,locationlocationlocation,newlisting,homeforsale,renovated,starterhome,dreamhome,curbappeal,keepingcurrentmatters [kcm_ig_quote] => Get ready to buy a home by improving your credit score. [public_bottom_line] =>

As you set your sights on buying a home in the upcoming year, a focus on boosting your credit score could help you get a better mortgage rate when the time comes. If you want to learn more, connect with a trusted lender.

[published_at] => 2023-12-26T11:30:00Z [related] => Array ( ) [slug] => get-ready-to-buy-a-home-by-improving-your-credit-score [status] => published [tags] => Array ( [0] => content-hub ) [title] => Get Ready To Buy a Home by Improving Your Credit Score [updated_at] => 2023-12-26T11:30:33Z [url] => /2023/12/26/get-ready-to-buy-a-home-by-improving-your-credit-score/ )

Get Ready To Buy a Home by Improving Your Credit Score

As the new year approaches, the idea of buying a home might be on your mind.

224
stdClass Object
(
    [agents_bottom_line] => 

Whether you’re planning to buy your first home, or you’re ready to move into a different one to meet your changing needs, think about the emotional benefits that can turn a house into a happy home. When you’re ready to make a move, let’s connect.

[assets] => Array ( ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 5 [name] => For Buyers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los compradores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 11 [name] => First-Time Buyers [parent] => [parent_id] => [published_at] => 2024-04-10T15:59:33Z [slug] => first-time-buyers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de vivienda por primera vez ) ) [updated_at] => 2024-04-10T15:59:33Z ) [2] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 38 [name] => Move-Up [parent] => [parent_id] => [published_at] => 2024-04-10T16:00:35Z [slug] => move-up [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Compradores de casa mas grande ) ) [updated_at] => 2024-04-10T16:00:35Z ) ) [content_type] => blog [contents] =>

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of homeownership are important, the non-financial and emotional reasons are too. Here’s why.

The word home truly means something different to everyone. Whether it’s sharing memories with loved ones around the kitchen table or settling in to read a book in your favorite chair, the emotional connections we have to our homes can be just as important as the financial ones. Here are some of the things that turn a house into a happy home.

1. You Can Be Proud of Your Accomplishment

Buying a home is a major life milestone. Whether you’re ready to buy your first home or your fifth, congratulations will be in order once you’ve achieved your goal. The sense of accomplishment you’ll feel at the end of your journey will truly make your home feel like your special place. Go ahead and smile – you’ve earned it.

2. You Have Your Own Designated Happy Place

Owning your home offers not only safety and security, but also a comfortable place where you can relax and unwind after a long day. Sometimes that’s just what you need to feel refreshed and recharged.

3. You Can Find the Space To Meet Your Needs

Whether you want more room for your changing lifestyle (like a large backyard for entertaining or room for a home office) or you simply want to move closer to your loved ones, you can invest in a home that truly works for your evolving needs.

4. You Can Customize Your Surroundings

Looking to try one of those decorative wall treatments you saw online? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to create an in-house yoga studio. You can do these things and much more when you own your home.

[created_at] => 2023-12-19T19:26:41Z [description] =>

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231219/20231225-Turning-a-House-Into-a-Happy-Home.png [id] => 37027 [kcm_ig_caption] => There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy. While the financial aspects of homeownership are important, the non-financial and emotional reasons are too. Here’s why. 1. You Can Be Proud of Your Accomplishment Buying a home is a major life milestone. Whether you’re ready to buy your first home or your fifth, congratulations will be in order once you’ve achieved your goal. The sense of accomplishment you’ll feel at the end of your journey will truly make your home feel like your special place. 2. You Have Your Own Designated Happy Place Owning your home offers not only safety and security, but also a comfortable place where you can relax and unwind after a long day. Sometimes that’s just what you need to feel refreshed and recharged. 3. You Can Find the Space To Meet Your Needs Whether you want more room for your changing lifestyle (like a large backyard for entertaining or room for a home office) or you simply want to move closer to your loved ones, you can invest in a home that truly works for your evolving needs. 4. You Can Customize Your Surroundings Looking to try one of those decorative wall treatments you saw online? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to create an in-house yoga studio. You can do these things and much more when you own your home. Whether you’re planning to buy your first home, or you’re ready to move into a different one to meet your changing needs, think about the emotional benefits that can turn a house into a happy home. When you’re ready to make a move, DM me. [kcm_ig_hashtags] => realestate,homeownership,homebuying,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,realestateagents,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,keepingcurrentmatters [kcm_ig_quote] => These non-financial benefits turn a house into a happy home. [public_bottom_line] =>

Whether you’re planning to buy your first home, or you’re ready to move into a different one to meet your changing needs, think about the emotional benefits that can turn a house into a happy home. When you’re ready to make a move, connect with a local real estate advisor.

[published_at] => 2023-12-25T11:30:00Z [related] => Array ( ) [slug] => these-non-financial-benefits-turn-a-house-into-a-happy-home [status] => published [tags] => Array ( [0] => content-hub ) [title] => These Non-Financial Benefits Turn a House into a Happy Home [updated_at] => 2023-12-25T11:30:32Z [url] => /2023/12/25/these-non-financial-benefits-turn-a-house-into-a-happy-home/ )

These Non-Financial Benefits Turn a House into a Happy Home

There’s no denying the long-term financial benefits of owning a home, but today’s housing market may have you wondering if now’s still the time to buy.

225
stdClass Object
(
    [agents_bottom_line] => 
  • As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal.
  • To name just a couple, it’s a good idea to declutter, take down personal photos and items, touch up any scuffs on the walls, and tidy up your landscaping.
  • Connect with a trusted real estate professional for advice on what else you may want to do to get your house ready to sell this season.
[assets] => Array ( [0] => stdClass Object ( [id] => 87645 [title] => Branded Infographic [description] => [url] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/assets/image/20231219/Get-Your-House-Ready-To-Sell-This-Winter-NM.jpg [asset_type] => image [categories] => Array ( ) [tags] => Array ( ) [updated_at] => 2023-12-19T15:49:07Z ) ) [banner_image] => [can_share] => no [categories] => Array ( [0] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 6 [name] => For Sellers [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => sellers [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Para los vendedores ) ) [updated_at] => 2019-06-03T18:18:43Z ) [1] => stdClass Object ( [category_type] => standard [children] => [created_at] => 2019-06-03T18:18:43Z [id] => 8 [name] => Infographics [parent] => [parent_id] => [published_at] => 2019-06-03T18:18:43Z [slug] => infographics [status] => public [translations] => stdClass Object ( [es] => stdClass Object ( [name] => Infografías ) ) [updated_at] => 2019-06-03T18:18:43Z ) ) [content_type] => blog [contents] =>

[created_at] => 2023-12-19T15:53:17Z [description] =>

As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal.

[exclusive_id] => [expired_at] => [featured_image] => https://files.keepingcurrentmatters.com/KeepingCurrentMatters/content/images/20231219/Get-Your-House-Ready-To-Sell-This-Winter-KCM-Share.png [id] => 36996 [kcm_ig_caption] => As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal. To name just a couple, it’s a good idea to declutter, take down personal photos and items, touch up any scuffs on the walls, and tidy up your landscaping. Connect with a trusted real estate professional for advice on what else you may want to do to get your house ready to sell this season. [kcm_ig_hashtags] => sellyourhouse,moveuphome,dreamhome,realestate,homeownership,realestategoals,realestatetips,realestatelife,realestatenews,realestateagent,realestateexpert,realestateagency,realestateadvice,realestateblog,realestatemarket,realestateexperts,instarealestate,instarealtor,realestatetipsoftheday,realestatetipsandadvice,justsold,keepingcurrentmatters [kcm_ig_quote] => Get your house ready to sell this winter. [public_bottom_line] =>
  • As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal.
  • To name just a couple, it’s a good idea to declutter, take down personal photos and items, touch up any scuffs on the walls, and tidy up your landscaping.
  • Let’s connect so you have advice on what else you may want to do to get your house ready to sell this season.
[published_at] => 2023-12-22T11:30:00Z [related] => Array ( ) [slug] => get-your-house-ready-to-sell-this-winter-infographic [status] => published [tags] => Array ( ) [title] => Get Your House Ready To Sell This Winter [INFOGRAPHIC] [updated_at] => 2023-12-22T11:30:41Z [url] => /2023/12/22/get-your-house-ready-to-sell-this-winter-infographic/ )

Get Your House Ready To Sell This Winter [INFOGRAPHIC]

As you get ready to sell your house, there are a few things you should add to your to-do list to make it inviting and boost curb appeal.