Wednesday, September 21, 2022 / by Nicole Solari
Some people believe there’s a group of homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have the same hesitation if you’re thinking about selling your house.
Data shows 51% of homeowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. As Jessica Lautz, Vice President of Demographics and Behavioral Insights at the National Association of Realtors (NAR), explains:
“Home sellers have historically moved when something in their lives changed – a new baby, a marriage, a div ...
Tuesday, September 13, 2022 / by Nicole Solari
If you’re selling your home—particularly if it’s your first time doing so—it can sometimes seem like your real estate agent is speaking another language with all their industry jargon. But in order to really understand what’s happening with your home sale, it’s important to get a handle on what that jargon means.
So the question is, in today’s market, what are the real estate terms sellers need to know—and what, exactly, do they mean?
A recent article from realtor.com defined key real estate terms every home seller needs to know in today’s market, including:
DOM. DOM stands for days on the market. Knowing your home’s DOM is a must because it can impact your sale price. If your house has a high DOM—and has been sitting on the market for a long time—it could give buyer’s an advantage and inspire them to try to negotiate a lower price for the property.
Stale listing. Speaking of homes ...
Wednesday, July 27, 2022 / by Nicole Solari
If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.
While Growing, Housing Supply Is Still Low
Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.
The blue bars represent the years leading up to the housing crisis in 2008. As the graph shows, right before the crash, homebuilding increased significant ...
Friday, June 17, 2022 / by Nicole Solari
While the days of spending more time at home may be over, and many people have returned to the office and normal daily activities, home redecorating is still on many homeowners’ minds. Simple home improvement projects have the combined benefit of creating a renewed space that can cure “cabin fever” and can also be good for your home’s property value. You don’t even need to hire a contractor to get started on these projects that can change your home’s look, even during a weekend.
Get painting, in a creative way
While painting your home to give it a new look is an obvious choice, you can save yourself time and go for a creative change by painting targeted areas of your home instead of all of it. You can select one wall in your home, such as in a living room or your kitchen, to be an accent wall. This accent wall could be painted in shades of green or blue, and some homeowners are even using on-trend wallpaper to create an accent wall.; ...
Monday, June 6, 2022 / by Nicole Solari
If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you’re looking for on your house if you’re ready to sell.
And here’s the thing – you need an expert on your side to ensure you make all the right moves when you do, especially when it comes to pricing your house. Even in this competitive market, you can’t stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they view the listing. That’s where a real estate professional comes in.
Why Pricing Your House Right Is Important
The price you set for your house sends a message t ...