Encore Group

Busy weekend for our 🤩ROCKSTAR🤩 agents, Kim Jenkins and David Rowan. Congratulations to you both on getting some pendings! We are so proud of you.

Looking to buy or sell? Reach out and we can help you get in the home you need.

CONGRATS David Rowan and Kari Jensen on getting some pendings this month! We are so proud of you and your clients. Way to fight for them to win out in this market!

Can we get a round of applause for this dude right here? TWO IN ONE DAY?! Wow, congrats on working so hard in getting your clients under contract. We couldn't be more proud of you.

The bad news? 11% of buyers who purchased a home last year were underwater on their mortgages by November 2022.

The good news? Despite fluctuating prices, buying is still a good long-term investment.

So if you are one of the 11%, don’t beat yourself up. Even still, here are a few ways to avoid overpaying this spring:

1) Do some research: Check out recent sales of comparable homes in your area to get an idea of what similar homes are selling for.
2) Hire an appraiser: An appraiser can provide an objective estimate of your home's value, taking into account factors like location, condition, and features.
3) Get a second opinion: If you're working with an agent, ask for a second opinion on the value of a home. They can provide insight into market trends and other factors that could impact the price.

Remember, paying too much for your home could impact your finances for years to come. So take the time to do your research and make an informed decision!

Find this helpful? Save this post for later, and feel free to reach out with any questions!

This is everything when it comes to selling your home:

Timing.

Over the years, we've seen how the timing of the market can impact the sale of a home. It's like cooking a masterpiece, you have to gather all the right ingredients and wait for the perfect moment to bring everything together.

That “perfect moment” often comes in late spring — specifically May — when over the past ten years, sellers have seen added 12.6% boost in the sale price, according to ATTOM Data Solutions.

All that to say, if you’re thinking about selling, now is a great time to pull together the best ingredients for a successful sale - prepping, staging, and showing. And don’t worry, as local agents with years of experience, we can help! We promise when the timing is right, your home will be the main course everyone is talking about!

Here’s what we are not gonna let happen this spring — you overpay for a new home.

We know, we know. You’ve come to terms with the higher interest rates and home prices. But those? Those are completely out of your control. What’s in your control? The price tag you’re willing to pay.

So here’s what we’re gonna do. When you find your next home, and you’re ready to put in an offer, we’ll talk about an appraisal contingency. Here’s how works:

An appraisal contingency allows buyers to back out of a deal or renegotiate the purchase price if the home's appraisal value comes in lower than the purchase price. It’s a simple way to safeguard your hard-earned cash during the buying process — and ensure you're not overpaying.

So if you’re thinking of buying but don’t want to get in over your head, don’t worry. We’ll do everything in my power not to let that happen.

Have other hangups about buying? Message us - we'd love to talk more.

Congrats gentlemen, on your pendings!! We are so proud of ya'll for working hard and getting these BEAUTIFUL homes under contract! Your clients are lucky to have you.

If you are looking for some fighters, these are the guys you want on your side!

Spencer Sinor, Realtor
📱615.525.1975
💻[email protected]

David Rowan, Realtor
📱865.257.0210
💻[email protected]

Did you know that Spring is peak home buying season, with 40% of purchases happening between March and June?!

If you’re buying a home this Spring, it’s time to put on your game face and get ready to compete. Here are a few tips to help you win the bidding war and secure your dream home...

Be ready to act fast.
In a hot market, homes don’t last long. Be prepared to act quickly and make an offer as soon as you find the perfect home. *Ahem* this means getting pre-approval from a lender before starting your search.

Be prepared to make a strong offer.
In a competitive market, you may need to make an offer above the asking price to stand out. Be prepared to move fast and make a strong offer to secure your dream home. Don’t worry, we have a few more tricks up our sleeves to help your offer stand out!

Be flexible.
Be open to different neighborhoods, home styles, and move-in dates. The more flexible you are, the more options you’ll have. Pro tip: Create a wants vs. needs list before you start searching.

We love helping clients come out on top of a bidding war and lock down their dream home. The sooner we can start preparing for your purchase the better, send us a message and let’s get started!

Statistics:
*According to NAR, spring is often the busiest season for home sales, with 40% of typical existing-home purchases taking place between March and June.

Excuse us while we brag on these KILLERS!!!

🥳Congratulations Kim Jenkins, Spencer Sinor, and David Rowan on getting this BEAUTIFUL properties under contract!! Way to win in this market all while getting your clients their forever home!! We are so proud of ya'll!🥳

Are you questioning your home? Your state? Your living situation? Are you ready to buy or sell? Reach out and let’s get you started on your future!

Congratulations to the Encore Group for being the Top producer in Sales Volume for the month of December. Team- WEST

Hey there, first-time homebuyer, can we have a heart-to-heart?

You see, you’re buying your first home, and we couldn’t be more excited. We are showing up as your biggest fan.

But our guess is you’re hearing lots of chatter about this not being the ideal time to buy. Maybe even from people you love.

Here’s the thing: Maybe conditions aren’t ideal, but if you know in your heart you’re ready to buy, then NOW is THE time.

So long as you can take that spirit into this process, you’re going to be just fine. And we’ll be with you every step of the way. To leave nothing unsaid, here are a few other mind shifts we hope you, and all first-time buyers, will embrace:

1. This is your first home. Not your forever home. It’s okay if it doesn’t have everything on your wish list. That will come with time.
2. You can’t control the market or interest rates. You know the home you could have afforded two years ago isn’t the home you can afford today. But that’s okay. You will find the home that’s right for you right now.
3. Staying within your budget is important. Don’t get caught up in the emotional side of buying or begin to equate your value as a person with the home you purchase.

Now that your mind and heart are ready, it’s time to get moving. Send us a DM, and let’s take the next step.

Buying and selling at the same time. It’s not for the faint of heart, but our clients do it all the time. And in the end, they’re all smiles!

So today, we are sharing our top tips for maintaining your sanity if you’re staring down both sides of a real estate transaction.

1. Involve an agent in the early stages of buying and selling.
2. Consider options for temporary housing. While the stars may align and you may not need them, a plan for where you’ll go in between selling and buying will smooth the rough edges of the process.
3. Get “paperwork ready” to buy and “house ready” to sell. Before you’re up to your eyeballs in showings on either side, get pre-approved and make any necessary repairs to your home. You don’t want to be scrambling on either.
4. Say yes to seeing “just listed” homes. If your search has stalled, be willing to drop everything when your agent calls with a new listing. The sooner you can put eyes on a home, the sooner you’ll be out of limbo.
5. Trade dollars for a quick closing. It may be worth a buyer’s home warranty to get a 30-day closing. Empower your agent to negotiate a quick closing so you can step into your forever home as soon as your home closes.

Selling and buying is a big deal, but that’s why we're here. Save this one for later!

What you need to know before buying (that no one ever tells you):

1. Buy the house you can afford, not the maximum the mortgage lender thinks you can afford.
2. Don’t dismiss school districts - even if you don’t have kids. Buying in a sought-after district will come in genius at resell.
3. It’s okay if you don’t have a 20% down payment. Just talk with a reputable lender ASAP to see which loans are right for you.
4. Don’t be afraid to walk. Title issues, an overwhelming inspection, or a nagging hunch that won’t quit? You’re the buyer. You’re in charge. And you can walk at any point.
5. Buying is costlier than renting. You’ll be your own landlord now, so you’ve got to factor repair costs, utilities, and furniture into your budget. Another reason to revisit number one above.

Tag a friend who needs to see this, or save this post for later.

Q: What’s the true cost of selling a home?
A: Roughly 10-12% of the sale price.

Here’s a DETAILED breakdown (with 2022 data):

- Agent commissions: 5-6% of the sale price, split between the two agents.
- Attorney fees, transfer taxes, and other administrative costs: 1% of the sale price
- Home repairs and inspection requests: $100-10,000. The most common repair on a home inspection report? Sticky doors that need adjusting. The second? Leaky faucets and shower heads.

Optional expenses:

- Moving: The average cost of a local move with a two-person team is $1,400. A cross-country move will set you back $2,200-5,700. Save on moving by grabbing a few friends and DIY.
- Interior staging and exterior landscaping: 18% of sellers’ agents said staging increased a home’s value between 6-10%. Staging and landscaping will run 2% of the sale price, making both worthy of your time and money.
- Seller concessions: To sweeten the deal, you may help a buyer with inspection fees, processing fees, or other costs. Usually, no more than 2% of the sale price.
- Home warranty: Some sellers offer buyers a warranty to cover the home leading up to closing, so the buyer knows they’re not facing repair costs as soon as they sign. A home warranty costs $300-500.

One mistake we see from sellers? Pouring money into the wrong improvements before getting an agent involved.

If you’re thinking of selling, don’t wait to get an agent’s eyes on your home — it’ll focus your efforts and help you get every dollar out of your home. Want help? DM us today.

We’re halfway through January, so it’s time to start talking about market predictions for Q1 and the rest of the year. While no one has a crystal ball, here’s what experts and enthusiasts see coming into view for 2023:

1. Home prices will rise, but slower than in years past. Realtor.com predicts an average increase of 5.4% nationwide.
2. Mortgage rates will hover around 7%, four percentage points higher than the historic lows of 2021.
3. Thanks to the uptick in rates, buyers will have less buying power in 2023. Some will consider creative ways to pursue homeownership, like pooling their resources to buy with friends and family, a trend experts first noticed in the spring of 2022.
4. Inventory will trail pre-pandemic levels but will be up 22.8% giving buyers more options to choose from and far less competition than in past years.
5. Homeowners in a position to do so will look to rent their low-mortgage-rate homes and step into the role of landlord. With rental rates predicted to increase faster than home values, renting out a home will be lucrative in 2023.

DM us if you want to chat about what these predictions mean if you’re looking to buy or sell in 2023. We’d love to connect!

Source: https://www.realtor.com/research/2023-national-housing-forecast/
Source: https://www.zillow.com/research/zillow-housing-predictions-2023-31714/