What You Need To Know About Selling in a Sellers MarketWhat Does This Mean for You When You Sell?When the supply of houses for sale is as low as it is right now, its much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they're going to do their best to submit a very attractive offer upfront. This could drive the final price of your house up.And because mortgage rates and home prices are climbing, serious buyers are motivated to make their purchase soon, before those two things rise further. That means, if you put your house on the market while supply is still low, it will likely get a lot of attention from competitive buyers.Bottom LineThe current ... 05/02/2022

Why This Housing Market Is Not a Bubble Ready To PopHomeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream.Prior to the 1950s, less than half of the country owned their own home. However, after World War II, many returning veterans used the benefits afforded by the GI Bill to purchase a home. Since then, the percentage of homeowners throughout the country has increased to the current rate of 65.5%. That strong desire for homeownership has kept home values appreciating ever since. The graph below tracks home price appreciation since the end of World War II:The graph shows the only time home values dropped significantly was during... 04/25/2022

 Some Highlights If you're a homeowner, your net worth has gotten a big boost. Thats because recent home price appreciation has increased your equity. Your equity grows as you pay down your loan and as your home increases in value. Over the past year, the average homeowners equity grew by 55,300. Ready to sell? Lets connect to talk about how you can use that equity to fuel your next move.   04/11/2022

Filing a Homeowner’s Insurance ClaimNobody wants to have to file a homeowner’s insurance claim. After all, filing a claim means that something has gone horribly wrong at home. Maybe it’s damage from a storm, or a frozen pipe that burst, or some other unexpected problem. Whatever the cause, the damage was severe enough that you need to make a claim on the policy that up until now you’d hoped would never actually have to be used.Exactly what’s involved with filing a homeowner’s insurance claim, though? While the filing process is similar to that with other forms of insurance, there are a few things about homeowner’s insurance that might seem confusing if you’ve never really dealt with it before. To make sure that everything goes smoothly, here’s some advice on what to expect when filing a... 03/27/2022

How Global Uncertainty Is Impacting Mortgage RatesIf you're thinking about buying or selling a home, you'll want to keep a pulse on what's happening with mortgage rates. Rates have been climbing in recent months, especially since January of this year. And just a few weeks ago, the 30-year fixed mortgage rate from Freddie Mac approached 4% for the first time since May of 2019. But that climb has dropped slightly over the past few weeks (see graph below):The recent decline in mortgage rates is primarily due to growing uncertainty around geopolitical tensions surrounding Russia and Ukraine. But experts say its to be expected.Here's a look at how industry leaders are explaining the impact global uncertainty has on mortgage rates:Odeta Kushi, Deputy Chief Economist at First American, says:Wh... 03/18/2022

 Some Highlights There's an influx of buyers looking for homes today, and that means your house is in high demand. Here are a few reasons why so many people are looking to buy a home. Buyers are motivated to beat rising mortgage rates, and many want to escape rising rents. There's also additional demand from millennials who are reaching peak homebuying age. If you're thinking about selling your house, todays demand is great news. Lets connect to begin the process of listing your house while buyers are ready to purchase.   02/18/2022

 Some Highlights Even in todays sellers market, there are still ways for buyers to win big. Build a team of trusted professionals and make strategic plays as you budget and pick your desired neighborhoods. Then, be ready for the competition by getting a pre-approval letter and leaning on your expert advisors to draft a winning offer. In a sellers market, you can still be the champion if you have the right team and strategy. Lets connect today to make your game-winning play.   02/11/2022

Do More With Your Corner CabinetsA good set of cabinets is all but essential in the kitchen. Not only do they keep your plates, bowls, and assorted other implements organized, but they can also provide easy access to dry goods and other items that you need to use frequently while cooking. The more cabinet space you have, the less clutter you’ll have in the kitchen itself, because you can store your various kitchen gadgets until they’re needed while still having them close at hand.Corner cabinets can be a bit of a problem, however. While these cabinets tend to provide the most interior space, a lot of this space isn’t easy to access because of the narrow opening that the corner cabinet provides. Fortunately, this isn’t an issue that you just have to accept. There are a few different ways... 02/06/2022

One key question that's top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, were in the ultimate sellers market, so real estate is ultra-competitive for buyers right now. The number of buyers searching for a home greatly outweighs how many homes are available for sale.While low inventory in the housing market isn't new, its a challenge that continues to grow over time. Here's a look at two reasons why todays housing supply is low and what that means for you.1. New Home Construction Fell Behind for Several YearsThe graph below shows new home construction for single-family homes over the past five decades, including the long-term average for housing units completed. Builders exceeded that average during the housing bubble (shown in red on the g... 01/21/2022

After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. The following graph shows year-over-year appreciation throughout 2021. December data has not yet been released.As the graph shows, appreciation has remained steady at around 18% over the last five months.In addition, the latest S&P Case-Shiller Price Index and the FHFA Price Index show a slight deceleration from the same time last year it’s just not at the level that was expected. However, they also both indicate there's continued strong price growth throughout the country. FHFA ... 01/15/2022

When you think about the pros that are needed in and around your home, you likely think of contractors, roofers, plumbers, electricians, and a few other professionals. One option that might not cross your mind is an interior designer. This is a shame, really, because a good interior designer can take the look of your home to a completely new level.Don’t confuse an interior designer with a simple decorator. Designers help arrange the decorations, yes, but they do so in such a way that it completely redesigns the look of your home’s interior. Interior designers typically have refined artistic sensibilities and put them to work for you in order to create a home that will leave visitors breathless when they first take it all in.Do You Need an Interior Designer? Some people think that interi... 01/12/2022

Special Government Home Renovation Loan Program using FHA 203k Mortgage Loans in Missouri City Texas. Many are not aware of a special government loan program that is actually a part of FHA (Federal Housing Administration- a department within HUD). Existing home owners or potential home buyers can remodel and update their homes without having a higher cost second lien because of this FHA loan program.  "Luxury items" like a hot tub and a swimming pool are not allowed by this FHA loan program. Repaint, remodel cabinetry in kitchens and bathrooms, add wallpaper, replace appliances and flooring and even a add a room to an existing structure (which will increase the value of the homes square footage).   One of the biggest advantages to this government loan program is you have all of your acq... 01/06/2022

As the threat of winter ice and snow increases, many homeowners start stocking up on deicer and other products to try and keep their walkways safe and clear throughout the winter. Not all deicer products are created equal, however, and some can actually do some harm around the home. Not only can some deicing compounds harm plants around your walkway, but they can even cause some damage to your walkways as well if you aren’t careful.Obviously, damage to your lawn or property isn’t ideal when trying to use a product to keep yourself and your family safe during the winter. With several options available, how do you know which deicer is best for your home? While it may differ based on the composition of specific deicer products, here are some things that you can look for to help choose the ... 01/02/2022

From the opportunity to take advantage of todays low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year.As we wrap up the fall season and move into the winter months, here's a look at what several industry leaders have to say about the continued momentum in the current market, and what it means as we head into the early part of next year.Lawrence Yun, Chief Economist, National Association of Realtors (NAR)This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales... 12/27/2021

Since the pandemic began, Americans have reevaluated the meaning of the word home. Thats led some renters to realize the many benefits of homeownership, including the feelings of security and stability and the financial benefits that come with rising home equity. At the same time, many current homeowners have decided their house no longer meets their needs, so they moved into homes with more space inside and out, including a home office for remote work.However, not every purchaser has been able to fulfill their desire for a new home. Here are two obstacles some homebuyers are facing: The ability to save for a down payment The ability to qualify for a mortgage at the current lending standards This past week, both of those challenges have been mitigated to some degree for many purchasers.... 12/17/2021

Having space within the home is important to most homeowners. If everything is too small and cluttered, it can make an otherwise charming home seem claustrophobic and unpleasant. With that said, adding space to your home can be a significant ordeal that comes with a lot of cost; at the very least, adding space means a major remodeling project even if you don’t have to make major modifications like taking out a wall.It’s often possible to create the illusion of space without actually making modifications to the home, though. The available options will depend on the layout of your house and a few other factors, of course. If you want to make your home seem a lot more open without making major changes or sinking a lot of money into remodeling, here are a few ideas to get you started.Keep I... 12/16/2021

Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022:The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.If you're thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be CostlyMortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you're buying a home, directly affecting how much you can afford. And even the smallest increase can have a large impact on your monthly payment (see chart below):With mortgage... 11/29/2021

Having access to a sink when you need one is a great convenience. Most people are used to having sinks in their kitchen and bathrooms, but there are other locations where a sink can come in handy as well. Installing a utility sink in these areas can make tasks such as laundry and cleaning easier, while also keeping you from having to dump things like cleaning wastewater into your kitchen or bathroom sink.Installing a utility sink in places like your laundry room, basement, or mudroom can be a great idea, especially if there aren’t any other sinks convenient to those locations. Depending on how your home is laid out, though, it might also be a significant undertaking. If you’re thinking about adding a utility sink, here are some things to keep in mind.What Is a Utility Sink? If you aren’... 11/21/2021

In todays housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways todays low inventory will set you up for a win when you sell this season.1. Higher PricesWith so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in todays market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal.2. Greater Return on Your InvestmentRising prices mea... 11/18/2021

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What's happening with home values right now? What's projected for next year? Here's a look at the answers to all three of these questions.How much have home values appreciated over the last 12 months?According to the latest Home Price Index from CoreLogic, home values have increased by 18.1% compared to this time last year. Additionally, prices have gone up at an accelerated pace for each of the last eight months (see graph below):The increase in the rate of appreciation that's shown by CoreLogic coincides with data from the other two main home price indices: the FHFA Home Price Index and the S&P Case Shiller Index.The last year has shown tremendous home price appreciation, which ... 11/16/2021