Kelly Hidalgo NMLS #1989752 Mortgage Broker

Thinking about selling but worried buyer demand disappeared when mortgage rates went up? Well, multiple offers are still rolling in, especially for starter and mid-priced homes. That means there's still a pool of interested buyers, and your home could be a standout in the current market.

History is on your side. Six decades of home price data prove home values almost always go up in the long run. That means homeownership is a smart investment that can significantly boost your net worth over time. Ready to start your homebuying journey? Let's connect to get you preapproved.

If you want to buy a home, you may not need as much for your down payment as you think.

If you're concerned about the possibility of home prices dropping, rest assured that many experts project they’ll actually rise at a normal pace in 2024. Whether you're gearing up to buy or sell in the new year, I'm here to chat about the latest forecasts, and help you plan for your next move.

If you’ve been debating whether or not to sell, here’s some information that may help you make a decision. The number of homes for sale is half of what we’d see in more normal years. That means today’s buyers are craving more options and your house may be just what they’re looking for.

Want to know what experts say will happen in the rest of 2023? Now is still a good time to buy. Reach out with any questions.

Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs. Reach out when you're ready to get pre approved.

Are you a seller who’s worried there aren’t any buyers out there? Data says it's just the opposite. The latest ShowingTime Showing Index (a measure of buyers touring homes) shows buyers are still more active than they were during the normal years in the housing market.

While home prices did fall a bit this year, the worst is already behind us. Nationally, prices have already rebounded and they’re expected to continue to tick up. That means if you buy a home now, it should grow in value. But if you wait, that same home is going to cost you more later. DM me if you’re ready to take the first step toward buying your next home.

Whether you’re buying or selling, it’s important to stay in-the-know about the housing market. Limited inventory, rising home prices, and homes selling fast are defining the housing market right now. To get insights into what’s happening in our local area and how these trends may affect your plans to buy or sell, let’s chat.

If you’re thinking about buying and you’ve been waiting and hoping home prices would fall, here’s what you need to know. The worst price declines are already behind us. So, it may not make sense to try to wait it out and score a deal. Instead, focus on finding a home that really fits your needs and budget based on where prices are now. DM me so you have help with that.

If you’re thinking about buying a home soon, one thing you can do to help you get ready is focus on your credit score. Higher scores can help you get a lower mortgage rate and better loan terms. A loan officer can provide even more strategies to help you improve your credit score. If you're ready to buy now, DM me for other valuable tips on the homebuying process.

Housing inventory is still historically low, with nearly 50% less supply compared to 2019 – the last normal year in the market. If you're a homeowner considering selling, now's your time to shine. If you list now and price your house right, you could see multiple offers and a fast sale. DM me to get connected to a realtor in your area.

Your mortgage pre-approval is an important first step in your homebuying journey. By getting pre-approved you’ll know what you can borrow for your home loan and you’ll be able to show sellers you’re serious about purchasing their house. DM me any questions you have about how to get started on your path to homeownership.

During the lead up to the 2008 housing crisis, it was much easier to get a home loan than it is today. Back then, lending institutions took on riskier borrowers and offered higher-risk mortgage products. Today, things are different, and buyers face stronger standards from mortgage companies. DM me to learn more about how today’s market is different than 2008.

Wondering if it makes sense to buy a home even while inflation is high? Consider this: as other expenses rise with inflation, buying a home can provide stability to your monthly housing costs. If you keep renting, you risk rising rental rates over time. That makes owning a home a great hedge against inflation. DM me if you are ready to get pre-approved.

Today, newly built homes make up a significant 31% of the total housing inventory. That’s more than double the average percentage seen over the past few decades. This means you have an exciting selection of new homes to choose from in your home search. DM me today to get pre-approved before exploring newly built homes in our area.

While the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling. Here are a few things to think about.

>>Limited Access – If You Can’t Show It, You Can’t Sell It.

One of the biggest mistakes you can make as a seller is limiting the days and times when buyers can view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’ ability to view it. Remember, minimal access equals minimal exposure.

>>Priced Too High – Price It To Sell, Not To Sit.

Pricing is a critical factor that can significantly impact your home sale. While it's tempting to push the price higher to try to maximize your profit, overpricing can deter potential buyers and lead to your home sitting on the market longer. Jeff Tucker, Senior Economist at Zillow, notes, “. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”

>>Not Freshened Up Before Listing – If It Looks Good, It’ll Make a Good Impression.

When selling your house, the old saying “you never get a second chance to make a first impression” matters. Putting in the work on the exterior of your home is just as important as what you stage inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact up front. But don’t let that stop at the front door. By removing personal items and reducing clutter inside, you give buyers more freedom to picture themselves in the home. Additionally, a new coat of paint or cleaning the floors can go a long way to freshening up a room.

To get more expert insights, DM me.

Reasons Your Home May Not Be Selling When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles.

The inspection is a major part of the home selling process. Many buyers used to waive inspections to be more competitive with their offer, but recently, inspections and repairs are becoming popular again.

Do today’s rising costs have you considering moving to a smaller home? Downsizing can have a lot of benefits. Not only are smaller homes generally more affordable, but they also typically come with lower bills and less upkeep.

The average net worth of a homeowner is 40 times greater than a renter. Why? One reason is home equity. As a homeowner, you build equity with each mortgage payment you make and as home prices appreciate with time. This helps grow your net worth. DM me so you can start your journey toward homeownership today.

If you're looking to buy a home, it's important to understand how changing mortgage rates can affect affordability. Even a slight change in rates can have a significant impact on your purchasing power. If you have questions on mortgage rates, reach out to a trusted lender. If you want to talk to someone about the homebuying process, DM me today.

During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year.

>>The Bad News: It Rattled Consumer Confidence

These forecasts put doubt in the minds of many consumers about the strength of the residential real estate market. Evidence of this can be from Fannie Mae. It showed a larger percentage of Americans believed home prices would fall over the next 12 months than in any other December in the history of the survey. That caused people to hesitate about their homebuying or selling plans as we entered the new year.

>>The Good News: Home Prices Never Crashed

However, home prices didn’t come crashing down and seem to be already rebounding from the minimal depreciation experienced over the last several months.

In a report just released, Goldman Sachs explains, “The global housing market seems to be stabilizing faster than expected despite months of rising mortgage rates, according to Goldman Sachs Research. House prices are defying expectations and are rising in major economies such as the U.S. . . . ”

When the forecasts of significant home price appreciation were made last fall, they were made with megaphones. Mass media outlets, industry newspapers, and podcasts all broadcasted the news of an eminent crash in prices.

Now, forecasters are saying the worst is over and it wasn’t anywhere near as bad as they originally projected. However, they are whispering the news instead of using megaphones. As real estate professionals, it is our responsibility – some may say duty – to correct this narrative in the minds of the American consumer.

Oops! Home Prices Didn’t Crash After All During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year.

Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions:

>>Why Are Mortgage Rates So High?

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). Demand for MBS helps determine the spread between the 10-Year Treasury Yield and the 30-year fixed mortgage rate. Historically, the average spread between the two is 1.72.

Last Friday morning, the mortgage rate was 6.85%. That means the spread was 3.2%, which is almost 1.5% over the norm. If the spread was at its historical average, mortgage rates would be 5.37%.

This large spread is very unusual. The good news is, that means there’s room for mortgage rates to improve today. So, what’s causing the larger spread and making mortgage rates so high today? Simply put: when there’s less risk, demand for MBS is high, so mortgage rates will be lower. On the other hand, if there’s more risk with MBS, demand for MBS will be low, and we’ll see higher mortgage rates as a result. Currently, demand for MBS is low, so mortgage rates are high.

>>When Will Rates Go Back Down?

Odeta Kushi at First American says in a recent blog: “It’s reasonable to assume that the spread and, therefore, mortgage rates will retreat in the second half of the year if the Fed takes its foot off the monetary tightening pedal and provides investors with more certainty. However, it’s unlikely that the spread will return to its historical average of 170 basis points, as some risks are here to stay.”

The Main Reason Mortgage Rates Are So High Today’s mortgage rates are top-of-mind for many homebuyers right now.