Bob Whigham Re/max Victory + Affiliates Realtor

How Mortgage Rate Changes Impact Your Homebuying Power

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know.

What’s Happening with Mortgage Rates?

Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors.

Things like the economy, job market, inflation, and decisions made by the Federal Reserve all play a part. So, even as rates go down, they can still bounce around a bit based on new economic data. As Odeta Kushi, Deputy Chief Economist at First American, says: “The ongoing deceleration in inflation, coupled with the Federal Reserve’s...

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How Mortgage Rate Changes Impact Your Homebuying Power If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind.

Mortgage Rates Edge Lower Yet Again

Determine if you know the definitions of these mortgage terms.

Understanding Mortgage Terms for Home Buyers Navigate the home-buying process with ease: Learn the essential mortgage terms you need to know for a successful purchase. Don't miss out on this basic overview!

How To Choose a Great Local Real Estate Agent

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.

Check Their Reputation

Start by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them.

Look for Local Market Expertise

A great agent should have in-depth knowledge of what’s happening at the national and local level. That way they can clear up any misconceptions sparked by what you’re reading or hearing in the news.

Get a Feel for Their Communication Style and...



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How To Choose a Great Local Real Estate Agent Selecting the right real estate agent can make a world of difference when buying or selling a home.

How To Choose a Great Local Real Estate Agent Selecting the right real estate agent can make a world of difference when buying or selling a home.

🚨 Important Update for Home Buyers and Sellers: NAR Settlement Effective 8/17/2024 🚨

The real estate landscape is changing! As of August 17, 2024, the National Association of Realtors (NAR) has reached a significant settlement that impacts how commissions are handled in real estate transactions. This could mean big changes for both buyers and sellers.

🔍 What Does This Mean for You?

For Buyers: You may see more transparency in how your agent’s commission is handled, potentially affecting your overall buying costs.

For Sellers: This settlement could influence how you negotiate commissions with your listing agent, possibly impacting your bottom line.

To learn more about these changes and how they might affect your next real estate move, watch the attached video for a detailed breakdown!

bob whigham nar settlement 1080p The final summary of the effect that this decision has on the sale of your home.

DO NOT scroll past this post if you are a homeowner or thinking of buying.

📝 Understanding Owner's Title Insurance: A Must-Have for Homebuyers 🏡

Purchasing a home is one of the most significant investments you'll ever make. But have you considered how owner's title insurance can protect that investment? This article by Clark explains why this coverage is essential, how it works, and what it can save you from in the long run.

Whether you're a first-time homebuyer or a seasoned investor, ensuring your title is clear and protected is crucial. Learn more about why owner's title insurance is worth considering before closing on your next property.

🔗 Read the full article here.

What Is Owner's Title Insurance and Do You Need It? You should consider owner's title insurance when buying or refinancing a home. Learn owner’s title insurance costs and coverages to protect your home.

[ 🤣 SHORT JOKE OF THE DAY ]

What do you call an elephant that doesn't matter? 🐘
An irrelephant. 🤣

Is Affordability Starting To Improve?

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Here’s a look at the latest data on the three biggest factors affecting home affordability.

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid 6% to low 7% range. But there's some good news. Data from Freddie Mac shows rates have been trending down overall since May. When rates decline, it's easier to afford the home you want because your monthly payment will be lower. Just don’t expect them to go back down to 3%.

2. Home Prices

The second big thing to think about is home prices. Nationally, they’re still going up this year, but not as fast as they did a couple of years ago. As Odeta Kushi, Deputy Chief Economist at...

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Is Affordability Starting To Improve? Over the past couple of years, a lot of people have had a hard time buying a home.

[ 🤣 SHORT JOKE OF THE DAY ]

The grape said nothing when he was stepped on. 🦶🍇
Instead, he let out a little wine. 🍷

🏞️ Adventure awaits!

Discover this *hidden gem* nestled in Ohio's scenic landscape—a cozy cabin that’s the perfect escape from the everyday hustle. if you’re craving tranquility with a touch of rustic charm, this spot should be at the top of your list! 🛶✨ Check it out and start planning your next getaway!

This Hidden Cabin In Ohio Is Full Of Charm And Perfect For An Escape Into Nature In Berlin, we found a hidden cabin surrounded by nothing but forest flora and fauna that's sure to become your new favorite Ohio getaway.

Determine if an open makes sense for your needs.

Open Vs. Closed Mortgage: The Pros, Cons, And How To Choose | moneyGenius If you’re deciding between an open vs. closed mortgage, it boils down to how much flexibility you need when making payments. Here’s everything you need to know.

3 Reasons To Move in Today’s Shifting Market

The housing market is in a transition. And that gives you 3 key opportunities going into the fall. There are more homes actively for sale. Builders are motivated to sell, so a newly built home may be more achievable than you think. And mortgage rates have come down from their recent peak. If you’re ready and able to buy, you may find the housing market this fall a bit easier to navigate. Let’s connect to get started.

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3 Reasons To Move in Today’s Shifting Market The housing market is in a transition. And that gives you 3 key opportunities going into the fall.

🌟 Elevate Your Home's Style with the Latest Window Treatment Trends! 🌟

Are you looking to refresh your space with a new look? One of the easiest ways to transform a room is through updated window treatments. From sleek, minimalistic designs to rich, textured fabrics, this year's trends offer something for every style and preference.

Discover how the right window treatments can enhance natural light, add warmth, and create the perfect balance between form and function in your home. Whether you're going for a modern aesthetic or a cozy, traditional feel, these trends will inspire you to rethink your windows and make a statement in any room.

Check out the latest window treatment trends and learn how to incorporate them into your home decor! 🌿🪟

8 Window Treatment Trends That Are Huge in 2024—And How to Use Each One From cafe curtains to cordless shades, these are the window coverings interior designers are seeing everywhere this year.

🏡 Montgomery County Real Estate Update! 🏡

Check out the latest "Months of Inventory" trends! 📊 It shows how long it would take to sell all the homes currently on the market. We're seeing a slight dip, which could mean a great opportunity for sellers! Local market inventory is currently at 1.7 months as of July 2024, while the national average stands at 1.6 months. Stay tuned for more insights!

[ 🤣 SHORT JOKE OF THE DAY ]

It doesn't matter how much you push the envelope. ✉️
It'll still be stationary. 😁

🍂 Ready to refresh your space for fall? 🍁

Check out these simple tips to declutter your home and make it cozy for the season! Say goodbye to clutter and hello to a warm, inviting atmosphere. 🏡✨

5 Steps to Quickly Declutter Your Home Before Fall (and Keep It Tidy All Season Long) Cleaning experts share the quickest ways to declutter your home ahead of fall. Plus, how to keep it tidy all season long.

📢 Urgent Update for Homebuyers! 📢

If you’re thinking about making a move, now’s the time to act! The housing market is shifting, and opportunities like this won’t last long. Check out these 3 key reasons why you should consider moving today. Don’t miss out—your dream home is waiting! 🏡

3 Reasons To Move in Today’s Shifting Market 3 Reasons To Move in Today’s Shifting MarketSome HighlightsThe housing market is in a transition. And that gives y

Have you heard of the Great Wealth Transfer?

Over the next 20 years, roughly $84 trillion is expected to change hands from Baby Boomers to Gen X and Millennials.

And as it’s passed down, it’ll impact the housing market because it should help younger generations be in a better position to afford homes.

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[ 🤣 SHORT JOKE OF THE DAY ]

I ate a watch yesterday... 🍴⌚
It was extremely time consuming. 😋

Consider improving your while mortgage rates are high.

9 Ways to Deal With High Mortgage Rates - Experian When mortgage interest rates are high, you can minimize the impact by saving for a larger down payment, buying down the rate and improving your credit.

The Great Wealth Transfer: A New Era of Opportunity

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.

Basically, as more Baby Boomers retire, sell businesses, or downsize their homes, more substantial assets are being passed down to younger generations. And this creates a powerful ripple effect that’ll continue over the next few decades.

Impact on the Housing Market

One of the most immediate effects of this wealth transfer is on the housing market. Home affordability has been a concern for many aspiring buyers, especially in high-demand areas. The increase in generational wealth is expected to ease some of these challenges by providing future homeowners with greater financial resources. As assets are passed down through generations, buyers may find themselves in a better position to afford homes.

Impact on the...



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The Great Wealth Transfer: A New Era of Opportunity In recent years, there’s been a significant shift in how wealth is distributed among generations.

[ 🤣 SHORT JOKE OF THE DAY ]

I just learned that french fries are not from France at all. 🍟
They were first cooked in grease. 🧑‍🍳

Home Inspections For Sellers: How To Prepare

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for. As supply grows and buyers regain negotiation power, you may find you want to do some select repairs with a good return on investment before listing to get ahead of things a buyer may ask you to fix. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.

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Home Inspections For Sellers: How To Prepare If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.

Mortgage Rates Continue to Recover, But We Could See Big Moves Tomorrow, Depending on Data