Friday, January 3, 2025 / by Bianca Romero
The start of a new year often inspires reflection and goal-setting. As you envision what you want your 2025 to look like, one dream may stand out: living in a new home. But how do you turn that vision into reality? Where should you begin?
Here are some key steps to help you get started.
Define Your Why
Your journey begins by identifying your “why.” While financial considerations are essential, so is the motivation behind your desire to move. Do you need more room for a growing family? Are you downsizing for a simpler lifestyle? Or is it time to purchase your first home?
Your “why” will be your guiding light. Share it with your real estate agent—they’ll use their expertise to align your goals with the right opportunities, no matter the market conditions. A skilled agent will guide you through the process, troubleshoot challenges, and keep you on track until your dream becomes a reality.
Clarify Your Needs
Next, get specific about what your next . ...
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Monday, December 9, 2024 / by Bianca Romero
Why Homeownership Can Still Be a Smart Move, Even in Today's Market
With today’s fluctuating mortgage rates and rising home prices, it’s natural to wonder if now is the right time to buy a home. While current market conditions certainly play a role in the decision, it’s important to zoom out and consider the bigger picture: the long-term advantages of owning a home.
Think about it this way: If you know people who bought homes 5, 10, or even 30 years ago, chances are you’ll have a hard time finding someone who regrets their decision. Why? Because, over time, home values tend to rise, and as a result, so does a homeowner’s net worth. Let’s take a closer look at how homeownership can pay off in the long run.
Home Price Growth Over Time
Over the past five years, home prices have increased significantly, with national prices rising by more than 57%. While these changes vary by region, the overall trend is clear: home prices have seen substantial. ...
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Monday, December 9, 2024 / by Bianca Romero
A common question everyone is asking right now is: when will mortgage rates start to come down? After a period of rising rates and significant fluctuations in 2024, we’re all hoping for some relief.
While no one can predict mortgage rates with absolute certainty or pinpoint exactly when they’ll drop, experts are offering insights on what we might expect in the year ahead. Here’s what the latest projections are saying.
Mortgage Rates Are Expected to Ease and Stabilize in 2025
After a period of volatility, the latest forecasts indicate that mortgage rates should start to stabilize over the next year, with a slight decrease compared to where they are now.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), notes:
“While mortgage rates remain elevated, they are expected to stabilize.”
Key Factors Affecting Mortgage Rate Movements
It’s important to recognize that predicting when and how mortgage rates will change is one . ...
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Tuesday, April 30, 2024 / by Bianca Romero
The current state of the housing market is heavily influenced by the number of homes available for sale. If you're contemplating listing your house, the current scarcity of inventory provides a significant advantage. Your property becomes more prominent when there's a limited supply, particularly if it's appropriately priced.
However, the supply of homes for sale is on the rise. Recent data from Realtor.com indicates an upward trend in new listings, with more homeowners putting their properties on the market compared to the previous year. This surge in listing activity, as reported by Realtor.com, signifies a shift:
"More sellers entered the market this March, with newly listed homes showing a 15.5% increase over last year. This marks the fifth consecutive month of rising listing activity following a 17-month decline."
Implications for Sellers
If you've been postponing the sale of your house, it might be time to reconsider before your neighbors beat you to it. While a sur ...
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Monday, April 29, 2024 / by Bianca Romero
Ever considered the prospect of sharing a residence with your grandparents, parents, or other cherished relatives? You're certainly not alone. Many individuals are opting for multi-generational homes where multiple generations can coexist harmoniously. Let's explore the rationale behind this choice to see if it resonates with you.
Why Multi-Generational Living Is Gaining Popularity
The National Association of Realtors (NAR) highlights several compelling reasons why buyers have gravitated towards multi-generational homes in the past year:
Assistance for Aging Parents: A significant portion, 27%, of buyers selected multi-generational homes to facilitate easier care for their aging parents. Additionally, 19% embraced this living arrangement to spend more quality time with their elders. For many seniors, the desire to age in familiar surroundings is paramount, and residing in a household with loved ones enables them to do so comfortably. If your parents share this aspiration ...
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