Home Price Deceleration Doesn't Mean Home Price DepreciationExperts in the real estate industry use a number of terms when they talk about what’s happening with home prices. And some of those words sound a bit similar but mean very different things. To help clarify what’s happening with home prices and where experts say they’re going, here's a look at a few terms you may hear: Appreciation is when home prices increase. Depreciation is when home prices decrease. Deceleration is when home prices continue to appreciate, but at a slower pace. Where Home Prices Have Been in Recent YearsFor starters, you've probably heard home prices have skyrocketed over the past two years, but homes were actually appreciating long before that. You might be surprised to learn that home prices have climbed fo... 06/20/2022

On the Fence of Whether or Not To Move This Spring? Consider This!If you're thinking of selling your house, it may be because you've heard prices are rising, listings are going fast, and sellers are getting multiple offers on their homes. But why are conditions so good for sellers today? And what can you expect when you move? To help answer both of those questions, lets turn to the data.Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks like:Notice how much darker the blues are on the left. This shows buyer traffic is strong today. In contrast, the much lighter blues on the right indicate weak or very wea... 04/18/2022

Some Highlights With inflation driving up the cost of everyday items, seeking out an energy-efficient home can be a great way to decrease the expenses you can control. Energy efficiency can help lower your utility bills and possibly even save you money on your taxes. Options to look for include efficient appliances, windows, and solar panels. If you're planning to buy a home this year, consider energy efficiency in your search. Lets connect so you can better understand features that can save you money for years to come.   03/28/2022

There's no question that the financial benefits of selling a house are outstanding today. Now is truly a great time to list if you're ready to make a change. But if you do sell your house right now, you may be wondering where you'll go when you move.With so few homes available to buy right now, you might be considering building a new home as one of your options. But you may be unsure if that's the way to go. Lets compare the benefits of a newly built home versus moving into an existing one, and why working with a real estate agent throughout the process is mission-critical to your success no matter what you decide.The Pros of Newly Built HomesFirst, lets look at the benefits of purchasing a newly constructed home. With a brand-new home, you'll be able to:1. Create your perfect home.If y... 12/15/2021

First impressions go a long way. This is applicable to not only when you meet someone new, but also when somebody sees your house for the first time. Regardless of whether it’s a friend or colleague coming over to visit or a prospective buyer looking at a property you’re trying to sell, the importance of curb appeal shouldn’t be underestimated.You might think that it takes a lot of work and money to update the curb appeal of your home, but that doesn’t have to be the case. It’s possible to significantly increase the curb appeal of your home and your property just by changing your landscaping. Here are a few ways that your landscaping can change up the look of your property and give your overall curb appeal a significant boost.Adjusting Existing Landscaping It doesn’t take a lot to turn ... 10/14/2021

When you hear the phrase home price appreciation, what does it mean to you? Through context clues alone, chances are you know it has to do with rising home prices. And as a seller, you know rising home prices are good news for your potential sale. But lets look past the dollar signs and dive deeper into the concept. To truly understand home price appreciation, you need to know how it works and why it matters to you.Investopedia defines appreciation like this:Appreciation, in general terms, is an increase in the value of an asset over time. The increase can occur for a number of reasons, including increased demand or weakening supply, or as a result of changes in inflation or interest rates. This is the opposite of depreciation, which is a decrease in value over time.When we consider thi... 08/27/2021

With home prices continuing to deliver double-digit increases, some are concerned were in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.1. The housing market isn't driven by risky mortgage loans.Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers Association is an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, lets look at the volume of mortgages that originated when a buyer had less than a 620 credit score.Dr. Fr... 07/28/2021