Fall Home Selling Checklist [INFOGRAPHIC]

Some Highlights When it comes to  selling your house , you want it to look its best inside and out so it catches the attention of buyers. A real estate professional can help you decide what to do to make that happen. Focus on tasks that can make it inviting, show it’s cared for, and boost your  curb appeal . Connect with a trusted real estate professional for advice on what you may want to do to get your house ready to  sell this season .

What Experts Say Will Happen with Home Prices Next Year

Experts are starting to make their 2023 home price forecasts. As they do, most agree homes will continue to gain value, just at a slower pace. Over the past couple of years,  home prices  have risen at an unsustainable rate, leaving many to wonder how long it would last. If you’re asking yourself:  what’s ahead for the price of my home,  know that experts are now answering this question, and its welcome news for homeowners who may have been led by the media to believe their home would lose value. Historically, home prices have appreciated at a rate near  4% . For 2023, the average of six major forecasters noted below is 2.5% .  While one,  Zelman & Associates , is calling for depreciation, the other five are calling for appreciation. The graph below outlines each expert forecast to show where they project home prices are going in the coming year. To understand why experts are calling for appreciation next year, look to the economics of supply and demand. Dave Ramsey, Financial Expe

Top Reasons Homeowners Are Selling Their Houses Right Now

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 divorce or a new job. . .  .” So, if you’re thinking about selling your house, it m

Watching the Stock Market? Check the Value of Your Home for Good News.

While watching the stock market recently may have started to feel pretty challenging, checking the value of your home should come as welcome relief in this volatile time. If you’re a homeowner, your  net worth  got a big boost over the past few years thanks to rising home prices. And that increase in your wealth came in the form of home equity. Here’s how it works. Equity is the current value of your home minus what you owe on the loan.  Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially. And while  rising inventory  and  mortgage rates  have cooled the market some in recent months, home prices nationally remain strong. That’s why, according to the latest  Homeowner Equity Insights  from  CoreLogic ,  the average homeowner equity has grown by $60,000 over the last 12 months.  While that’s the national number, if you want to know what h

This Week in Real Estate

Good Morning! Altos Research CEO Mike Simonsen said This Week in Real Estate that with demand falling but not cratering, and supply of homes available for sale remaining depressed, a US housing crash remains unlikely. “The supply of homes for sale is just too short for the market to tank hard,” concluded Simonsen. Total inventory is far from the peak levels we saw in 2007 of over 4 million listings. Currently we are at 1,310,000. Serving as an additional buffer is the $29 trillion in US homeowner equity, according to the Federal Reserve. Below are a few newsworthy events from the second week of September that influence our business:  * A Crash Of The US Housing Market Is ‘Very Unlikely’ Even As Mortgage Rates Surge To 14-Year Highs. The average 30-year mortgage hit a 14-year high Wednesday, but that surge won't spark a crash in the US housing market akin to anything seen in 2008, investment strategist Louis Navellier told Insider on Wednesday . "There are very real concer

Will My House Still Sell in Today’s Market?

If recent headlines about the housing market cooling and buyer demand moderating have you worried you’ve missed your  chance to sell , here’s what you need to know. Buyer demand hasn’t disappeared, it’s just eased from the peak intensity we saw over the past two years. Buyer Demand Then and Now During the pandemic,  mortgage rates  hit record lows, and that spurred a significant rise in buyer demand. This year, as rates increased due to factors like rising  inflation , buyer demand pulled back or softened as a result. The  latest data  from  ShowingTime  confirms this trend ( see graph below ): The orange bars in the graph above represent the last few months of data and the clear cooldown in the volume of home showings the market has seen since mortgage rates started to rise. But context is important. To get the full picture of where today’s demand stands, let’s look at the July data for the past six years ( see graph below ): This second visual makes it clear that, while moderating co

A Crucial First Step: Mortgage Pre-Approval [INFOGRAPHIC]

Some Highlights Mortgage  pre-approval  means a lender has reviewed your finances and, based on  factors  like your income, debt, and credit history, determined how much you’re  qualified to borrow . Being  pre-approved  for a loan can give you clarity while planning your  homebuying budget , confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted professional to learn more and start your homebuying process today.