Scott Vinson

Campland Mission Bay, San Diego calif. Sofia, Alex, Dustin, Jackson, and Alexis.

We be kickin back this 4th of July at Campland Mission Bay...

Got the RV ready for tomorrow's Jimmy Buffett Concert. If your a FB friend, look for the big RV with large USA Map on back. We'll get you a cold one or margarita.

It turns out, millennials aren’t the renter generation after all. The 2022 Consumer Insights Report from Mynd says there’s a portion of millennial and Gen Z buyers who are pursuing homeownership as a way to build their wealth.

Instead of buying a home and moving into it themselves, some young buyers are purchasing a home so they can use it as a rental. This tactic may be gaining popularity, at least in part, because of the affordability challenges brought about by today’s higher mortgage rates. The report above mentions how many people in this group are considering this approach. It says:

“Almost half of Millennials and Gen Z (43%) are considering buying an investment property compared to only 9% of Baby Boomers and 27% of Gen X.”

>>Why Younger Buyers Are Buying a Home To Use as a Rental

This strategy allows buyers to continue living in their current location, like the bustle of a city apartment or a neighborhood that they know and love, where they couldn’t afford to buy. But instead of giving up on the idea of owning a home, they buy a home in a more affordable area with the intention of renting it out.

In a way, they’re getting the best of both worlds. They live where they want, and they still own a home where they can afford it.

Their goal is to generate passive income and diversify their assets. It works like this: in addition to having a rental stream of income, the equity they build in their house will also help grow their net worth over time.

If you’re thinking about buying a home as an investment strategy to build your wealth, DM me to explore your options and nearby areas that may have homes that fit what you’re looking for.

If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first. But it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter.

Here are just a few costs experts say you can expect.

>>1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. While each situation is different, there’s a common misconception that putting 20% down toward your purchase is required.

To understand your options, partner with a trusted real estate professional to go over the various loan types, down payment assistance programs, and what each one requires.

>>2. Closing Costs

Make sure you also budget for closing costs, which are a collection of fees and payments made to the various people involved in your transaction.

The best way to understand what you’ll need at the closing table is to work with a trusted lender. They can provide you with answers to the questions you might have.

>>3. Earnest Money Deposit

If you want to cover all your bases, you can also consider saving for an earnest money deposit (EMD). An EMD is money you pay as a show of good faith when you make an offer on a house.

Keep in mind, an EMD isn’t required, and it doesn’t guarantee your offer will be accepted. It’s important to work with a real estate advisor to understand what’s best for your situation and any specific requirements in your area.

Budgeting for your home purchase doesn’t have to be scary. DM me so you’ll have an expert on your side to answer any questions you have along the way.

Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point.

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market.

>>What Does This Inflection Point Mean for Buyers?

If you’re thinking of buying a home, you’ll have less competition and more options than you would have had last year. Enjoy having more homes to choose from in your home search and lean on a trusted real estate professional to understand how the increase in supply has also increased your negotiation power. That professional can talk you through the opportunities and challenges buyers face in today’s shifting market. You may be surprised to find they’re different than they were a year ago.

>>What Does This Inflection Point Mean for Sellers?

If you’re looking to sell your house, know that inventory is still low overall. That means, if you work with an agent to price your house based on current market value, it will still sell despite the inventory gains and moderating buyer demand this year. That’s because there are still buyers out there who want to move, and your house may be exactly what they’re looking for.

If you’re thinking of buying or selling a home, the best place to turn to for information on today's supply and demand is a trusted real estate professional. DM me so you know what’s happening in our local market and what that means for you.

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key.

>>Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.

Why does this matter to you? When inventory is low, there is still demand for your house because there just aren’t enough homes available for sale.

>>Homes Are Still Selling Faster Than More Normal Years

And while homes aren’t selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms – in large part because inventory is so low.

Most recently, due to the cooldown in the housing market, the average days on the market have started to tick back up slightly but are still far below the pre-pandemic norm.

What does this mean for you? While it may not be as fast as it was a couple of months ago, homes are still selling much faster than they did in more normal, pre-pandemic years.

>>Buyer Demand Has Moderated and Is Now in Line with More Typical Years

Buyer demand has softened this year in response to rising mortgage rates. But again, perspective is key. Prior to the pandemic, it was typical for homes sold to see roughly 2-2.5 offers.

But most recently, the number of offers on homes sold today has started to return to pre-pandemic levels as the market cools from the frenzy.

What’s the takeaway for you? Buyer demand has moderated from the pandemic peak, but it hasn’t disappeared.

If you have questions about selling your house in today’s housing market, DM me.

Today’s housing market is different than it was just a few months ago. Taking the time upfront to prep your house appropriately and create a solid plan can help bring in the greatest return on your investment.

Here are a few simple tips to make sure you maximize the sale of your house this fall.

>>1. Price It Right

One of the first things buyers will notice is the price of your house. That’s because the price sends a message to home shoppers. Your goal in pricing your house is to gain the attention of prospective buyers and get them to make an offer.

Pricing your house isn’t a guessing game. It takes skill and expertise. Work with a trusted real estate advisor to determine the current market value for your home.
>>2. Keep It Clean

It may sound simple but keeping your house clean is another key to making sure it gets the attention it deserves.

Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any clutter. Doing these simple things can reduce potential distractions for buyers.

>>3. Help Buyers Feel at Home

Finally, it’s important for buyers to see all the possible ways they can make your house their next home. An easy first step to create this blank canvas is removing personal items, like pictures, awards, and sentimental belongings. It’s also a good idea to remove any excess furniture to help the rooms feel bigger and make sure there’s ample space for touring buyers to stand and look at the layout.

Selling a house requires prep work and expertise. If you’re looking to sell your house this season, DM me today for advice.

Today’s market is at a turning point, making it more essential than ever to work with a real estate professional. Here are five reasons why working with a real estate professional makes sense.

>>1. A Professional Follows the Latest Market Trends

Working with an expert real estate advisor helps ensure you can stay updated on what’s happening. They know your local area and follow national trends too.

>>2. A Professional Helps Maximize Your Pool of Buyers

Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers.

>>3. A Professional Understands the Fine Print

Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. A real estate professional will help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.

>>4. A Professional Is a Trained Negotiator

If you sell without a professional, you’ll also be solely responsible for all the negotiations. In today’s changing market, buyers are regaining some negotiation power as bidding wars ease. Instead of going toe-to-toe with all parties alone, lean on an expert.

>>5. A Professional Knows How To Set the Right Price for Your House

If you sell your house on your own, you may be more likely to overshoot your asking price. Real estate professionals know the ins and outs of how to price your house accurately and competitively.

Don’t go at it alone. If you plan to sell your house, DM me today.

The real estate market is on just about everyone’s mind these days. That’s because the unsustainable market of the past two years is behind us, and the difference is being felt. The question now is, just how financially strong are homeowners throughout the country? Mortgage debt grew beyond 10 trillion dollars over the past year, and many called that a troubling sign when it happened for the first time in history.

Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said:

“U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national "LTV" in Q2 2022 was 29.5%, the lowest since 1983.”

She continued on to say:

“Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”

>>What Is LTV?

The term LTV refers to loan to value ratio. For more context, here’s how the Mortgage Reports defines it:

“Your ‘loan to value ratio’ (LTV) compares the size of your mortgage loan to the value of the home. For example: If your home is worth $200,000, and you have a mortgage for $180,000, your LTV ratio is 90% — because the loan makes up 90% of the total price."

>>Why Is This Important?

This is another reason we won’t see the housing market crash. Home equity allows homeowners to be in control. For example, if someone did need to sell their home, they likely have the equity they need to be able to sell it and still put money in their pocket. This was not the case back in 2008.

Homeowners today have more financial strength than they have had since 1983. This is yet another reason homeownership in any market makes sense.

In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional comes in. Here are some considerations a professional will guide you through.

>>What You Need To Know About Your Local Market

Since the supply of homes for sale has increased so much this year, today’s buyers have more options than they had last year. That may mean you’re not able to ignore some of those repairs or cosmetic updates you could have skipped in previous months. As a recent article from realtor.com says, “To stand out in the market, sellers should make their home attractive to buyers, which usually means some selective updates.”

>>Not All Renovation Projects Are Equal

In addition to making sure your house makes a good first impression, you’ll also want to consider the ROI for any renovations. When your agent comes to your house for a walk-thru and consultation, they’ll use their expertise to offer any insight into what you may need to repair, replace, or refinish.

>>How To Draw Buyer Attention to the Upgrades You’ve Made

For any projects you’ve already completed or for those you plan to do before listing, make sure your real estate professional knows. They’re not just an advisor to help you decide where to focus your efforts, they’re also skilled at highlighting any upgrades in your listing. That way, potential buyers know about the features that may help sell them on the house.

In today’s shifting market, it’s important to spend your time and money wisely when you’re getting ready to move. DM me to find out where to focus your efforts before you sell.

Venison appetizer atop mashed potatoes in a red pepper, yogart, sour cream, copped onions and minced garlic. Taste delicious. I live finding new ways to cook the game we hunt.

There’s no denying the housing market is undergoing a shift this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall.

>>Opportunity #1: You Have More Options for Your Move

One of the biggest stories today is the growing supply of homes for sale. Housing inventory has been increasing since the start of the year. If you’re selling your house to make a move, it means you’ll have more options for your own home search.

>>Opportunity #2: The Number of Homes on the Market Is Still Low

Just remember, while data shows the number of homes for sale has increased this year, housing supply is still firmly in sellers’ market territory. While you’ll have more options for your own home search, inventory is still low, and that means your home will still be in demand if you price it right.

>>Opportunity #3: Your Equity Has Grown by Record Amounts

The home price appreciation the market saw over the past few years has likely given your equity (and your net worth) a considerable boost. It may be just what you need to cover a large portion (if not all) of the down payment on your next home.

If you’re thinking about selling your house this season, DM me so you have the expert insights you need to make the best possible move today.

Here are three tips for buying the home of your dreams today.

>>Understand How Mortgage Rates Impact Your Homebuying Power
It’s important to stay up to date on what’s happening with rates and understand how they can impact your purchasing power when you’re thinking of buying a home. Even a small change in mortgage rates can have a big impact on your monthly payments. If rates rise, you could exceed your budget unless you pursue a lower home loan amount. If rates fall, your purchasing power may increase, which could give you additional options for your search.

>>Be Open to Exploring Different Options During Your Search
The supply of homes for sale is improving, which gives you more homes to choose from. But historically, supply is still low. That means if you don’t find something that meets your needs, it may be worth expanding your search. And if you’re able to, opening your search up to include other housing types, like newly built homes, condominiums, or townhomes can further increase your pool of options.

>>Work with a Local Real Estate Professional for Expert Guidance
Ultimately, you need to be prepared when you set out to buy a home. Jeff Ostrowski, Senior Mortgage Reporter for Bankrate, explains, “Taking the leap to homeownership can provide a feeling of pride while boosting your long-term financial outlook, if you go in well-prepared and with your eyes open.”

To make sure you have expert advice each step of the way, DM me.

If you’re thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.

As Lawrence Yun, Chief Economist at NAR, says, “Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.” It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer bidding wars and less competition among buyers.

But don’t forget – that’s compared to the severely overheated market we saw over the past two years. According to the latest Confidence Index from NAR, “. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.” While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they’re buying homes that are priced right. In fact, the Confidence Index also notes the average home is selling in just 14 days.

If you’re aiming to sell your house, be sure you’re working with your agent to price it for today’s housing market. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today. But it is still a sellers’ market. DM me so you understand what’s happening with buyer demand and home prices in our local area as you get ready to enter the market.

As mortgage rates started to rise this year, many homeowners began to wonder if the value of their homes would fall. Here’s the good news. Historically, when mortgage rates rise by a percentage point or more, home values continue to appreciate.

According to data from CoreLogic, home price appreciation has been re-accelerating since November. This is largely due to an ongoing imbalance in supply and demand. Specifically, housing supply is still low, and demand is high. As mortgage rates started to rise this year, many homebuyers rushed to make their purchases before those rates could climb higher. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“Home price growth continued to gain speed in early spring, as eager buyers tried to get in front of the mortgage rate surge.”

And experts say prices are forecast to continue appreciating, just at a more moderate pace moving forward. A recent article from Fortune says:

“. . . the swift move up in mortgage rates . . . doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model . . . still predicts home prices will climb further this year.”

If you’re thinking about selling your house, you should know you have a great opportunity to list your home and capitalize on today’s home price appreciation.

When you sell, you can use that equity toward the purchase of your next home. And at today’s record-level of appreciation, that equity may be enough to cover some (if not all) of your down payment.

DM me when you’re ready to find out how much equity you have in your current home and what’s happening with home prices in your local area.

Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say they’re headed, and how this impacts your homeownership goals.

>>What’s Happening with Home Prices?

Home prices have seen 121 consecutive months of year-over-year increases. CoreLogic says, “Price appreciation averaged 15% for the full year of 2021, up from the 2020 full year average of 6%.”

So why are prices climbing so much? It’s because there are more buyers than there are homes for sale. This imbalance is expected to maintain that upward pressure on home prices because homes for sale are a hot commodity in today’s low-inventory housing market.

>>Where Do Experts Say Prices Will Go from Here?

Experts say the housing market isn’t set up for a price decline due to that ongoing imbalance between supply and demand. In the latest home price forecasts for 2022, they’re calling for ongoing appreciation throughout the year. While the experts are forecasting more moderate price appreciation, the 2022 projections show price gains will remain strong throughout this year.

If you’re thinking of selling to move up, you shouldn’t wait for prices to fall. Experts say prices will continue to appreciate this year. That means, if you’re ready, buying your next home before prices climb further may make the most financial sense. DM me to begin the process of selling your current home and looking for your next one before prices rise higher.

According to a recent survey NAR, one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes for sale is so low today. If you’re looking to buy a home, you may have noticed this yourself. But there is good news. Recent data shows more sellers are listing their houses this season, which may give you more options for your home search.

The latest data from realtor.com shows the number of listings coming onto the market has increased since the start of the year. And according to realtor.com, this growth is expected to continue. Their research finds the majority of potential sellers plan to list their homes over the next six months.

But while new listings are increasing, it’s important to know they’re also selling quickly. The latest Realtors Confidence Index from NAR shows the median days on market for recently sold homes since the beginning of the year. The time on market has decreased month-over-month. That means homes are selling even faster than they did the previous month.

While a low-inventory market is difficult to navigate as a buyer, there is hope. The growing number of new listings and the expectation more sellers will list their homes in the coming months is great news if you’ve had a hard time finding a home that fits your needs. Just remember, those new listings are going fast. That means you’ll want to keep your foot on the gas and be ready to act if you find a home you love this season. DM me so you can stay up to date on the latest listings in our market, so you can be ready to move fast when you find the one that’s right for you.

Here are three things that can help give you the information you need to confidently pursue your dream of homeownership.

>>Consider All Options When the Number of Homes for Sale Is Low
Today, there are far more buyers in the market than there are homes available for sale. When that happens, it’s a good idea to do what you can to increase your pool of options. Condos and townhomes are both great entryways into homeownership. When you buy either one, you can start building equity which increases your net worth and can fuel a future move.

>>Know Your Down Payment Could Be More Within Reach Than You Think
Saving for a down payment can feel like one of the biggest obstacles for homebuyers, but that doesn’t have to be the case. As NAR says, “One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.” For all homebuyers right now, it’s only 13%. That’s well below the common misconception of 20%, and it’s even lower for younger buyers. There are also down payment assistance programs available for many buyers.

>>Work with a Trusted Real Estate Advisor Throughout the Process
Once you’re ready to begin your search, a real estate professional can help you understand your local market and search for available homes. And when it’s time to make an offer, they’ll be an expert advisor and negotiator to help your offer stand out above the rest.

DM me so you have an expert on your side who can help you navigate the homebuying process.