The rising possibility of a recession has sparked concerns about the housing market. Historically, recessions don’t typically cause home prices to drop significantly; rather, they often continue rising. Additionally, mortgage rates usually decline during recessions, improving affordability. Understanding these patterns can alleviate concerns for potential buyers and sellers.
Tag Archives: real-estate
The #1 Thing Sellers Need To Know About Their Asking Price
When selling a home, accurate pricing is crucial due to changing market dynamics and increased inventory. Overpricing can deter buyers and result in lower offers. Agents play a key role in setting competitive prices based on market data. A well-priced home attracts serious buyers and facilitates quicker sales, ensuring better outcomes.
4 Things to Expect from the Spring Housing Market
This spring, the housing market is improving with a 27.5% increase in homes for sale, providing buyers more choices and encouraging sellers. Home price growth is slowing, stabilizing mortgage rates are aiding buyer confidence, and overall demand is rising. It’s an opportune time to consider buying or selling.
The Best Week To List Your House Is Almost Here – Are You Ready?
If selling your house is on your to-do list this year, the time to start prepping is now. That’s because experts say the best week to list your house is coming up fast. A recent Realtor.com study analyzed years of housing market trends (excluding 2020 since it was an outlier) and found that April 13–19Continue reading “The Best Week To List Your House Is Almost Here – Are You Ready?”
Rising Inventory Means This Spring Could Be Your Moment
This spring presents a favorable opportunity for homebuyers due to increased inventory and sellers’ willingness to negotiate. With 27.5% more homes available compared to last year, buyers enjoy greater choices and potential lower prices. Increased price cuts indicate sellers are more flexible, enhancing buyers’ leverage in negotiations.
Mortgage Rates Hit Lowest Point So Far This Year
Mortgage rates have been declining for seven weeks, reaching the lowest level of the year, as recent economic uncertainty impacts consumer sentiment. This drop offers potential homebuyers a better opportunity with significant savings on monthly payments. However, volatility remains a possibility, prompting buyers to consider acting now.
Seller Concessions: A Smart Strategy to Get Your House Sold
The housing market is shifting towards a balance, requiring sellers to offer concessions to close deals. These can include covering closing costs, price adjustments, or adding a home warranty. As nearly 24% of sellers offered concessions in 2024, having a skilled agent to navigate these negotiations is essential for successful transactions.
How To Buy a Home Without Waiting for Lower Rates
Many buyers anticipate a drop in mortgage rates before purchasing a home, but experts forecast only a modest decline. Current predictions suggest rates will stabilize around 6.5%. Alternative financing options, such as mortgage buydowns, adjustable-rate mortgages, and assumable mortgages, can help buyers navigate affordability challenges in the market.
The Secret to Selling This Spring: Start the Prep Work Now
Spring is a crucial season for home sales, with buyers becoming more selective. Homeowners should prioritize strategic repairs, especially those with high ROI, to enhance their property’s appeal. Consulting a local real estate agent early can provide valuable insights. Start getting your home market-ready now to maximize buyer interest.
Breaking Into the Market: Smart Moves for First-Time Buyers
Aspiring homebuyers are facing rising living costs, including home prices. Many wrongly believe their first home must be their forever home, but it can be a stepping stone to build equity. By expanding their search area and working with a knowledgeable real estate agent, buyers can find more affordable options and start their homeownership journey.
Real Estate | Your@HomeTeam 