Bob Webster Realtor at Compass Lake Geneva Property

Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years. That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time. If you’ve been debating if it makes more sense to rent or buy, DM me to talk about why homeownership can be a better bet in the long run.

Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC] According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years.

Last week’s average for 30-year fixed-rate mortgages was just over 7%. Both last week’s and this week’s rates are higher than they were this time last year when rates averaged 6.71%.

Mortgage rates fall but only slightly as home prices continue rising "Mortgage rates retreated this week given incoming data showing slower growth," Freddie Mac Chief Economist Sam Khater said. "Rates are just shy of seven percent, and we expect them to modestly decline over the remainder of 2024. If a potential buyer is looking to buy a home this year, waiting for l...

Wishing all the amazing dads out there a happy and memorable Father's Day filled with love and appreciation!

Learn more at https://BetterHomeowners.com/BobWebster/2024/06/14/Fathers-Day-2024

Homebuilders Aren’t Overbuilding, They’re Catching Up

You may have heard that there are more brand-new homes available right now than the norm. Today, about one in three homes on the market are newly built. And if you’re wondering what that means for the housing market and for your own move, here’s what you need to know.

Why This Isn’t Like 2008

People remember what happened to the housing market back in 2008. And one of the factors that contributed to that crash was that there were too many homes for sale. While only part of the oversupply back then came from builders, the lasting impact is that some people still feel uneasy when they hear new home construction has ramped up.

Even though the supply of new homes has grown this year, the data shows there’s no need to worry. Builders aren’t overbuilding, they’re just catching up.

New Home Construction May Be at Its Peak for the Year

Builders remember what...

Homebuilders Aren’t Overbuilding, They’re Catching Up You may have heard that there are more brand-new homes available right now than the norm.

Home appraisals are typically required by mortgage lenders before the loan can be approved.

How much does a home appraisal cost? A home appraisal is conducted by a licensed professional to determine what your home is worth. Sometimes, sellers arrange an appraisal before they put the property on the market to ensure they’re asking the right price. More commonly, though, a buyer’s mortgage lender will require an appraisal o...

True, you can't buy happiness, but you can invest in something that brings you joy and security: real estate. Let's turn your dreams of homeownership into a reality together!

Learn more at https://BetterHomeowners.com/BobWebster/2024/06/13/You-cant-buy-happiness...

Geneva Lake Access Home in Somerset
1120 South Lake Shore Drive, Unit 33 | Lake Geneva | $1,498,500

Here's an opportunity to find a 4 bedroom, 3 bath ranch home in the city limits of Lake Geneva with a Transferable Boat Slip on Geneva Lake. The comfortable home features a bright open floor plan, Great Room with cathedral ceilings and fireplace, spacious kitchen with center island ideal for entertaining, and main floor primary bedroom suite. Conveniently located near all your favorite downtown Lake Geneva shops and dining options.

https://lakegenevaproperty.com/properties/1120-s-lake-shore-dr-33-lake-geneva-wi-us-53147-1869708

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.

The key is knowing the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar.

Here’s the most important thing to note: Actual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years.

What Does This Mean for Home Prices?

So, while there's been an increase in price reductions recently, this doesn't mean overall home values are declining.

Why This...

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify.

Take thirty minutes and we'll build a case for homeownership now...today...amid issues of inventory, affordability, and rising prices.

Living the Dream: The Value of Homeownership Homeownership represents far more than just having a place to live—it embodies values, aspirations, and a sense of security.

UNDER CONTRACT :: 271 Fontana Boulevard, #903 | $349,900

Another Abbey Harbor Dockominium under contract!

Savings Strategies Every First-Time Homebuyer Needs To Know

If homeownership is on your goal sheet for your future, you’re probably working on your savings. And a big priority is making sure you’ve got a plan in place for things like your closing costs, down payment, and more.

Here are a few strategies that can help speed up that process.

Budget and Track Your Expenses: To start, create a detailed budget that tracks the money you’ve got coming in and the money going out. This’ll give you a better look at your finances as a whole.

Cut Down on Unnecessary Spending: Now that you have your budget sheet done and you know how you’re spending your money, look for any line items that aren’t absolutely essential. If you cut down on those, you can re-allocate that cash toward buying a home. Even the little things can add up.

Automate Your Savings: Once you know how much you want to set aside for your homebuying budget...

Savings Strategies Every First-Time Homebuyer Needs To Know If homeownership is on your goal sheet for your future, you’re probably working on your savings.

SOLD :: 853 Van Slyke Drive, Fontana | Offered at $859,000

Congratulations to my sellers on the successful closing on this beautiful Fontana home.

Falling prices are a product of low inventory and falling demand.

Crash or Correction? Home Prices Are Falling In These 15 Cities Across the Country After several years of escalating home prices amid tight inventory, as well as high interest rates that slammed the brakes on homebuying and investing, the first few dominoes appear to have fallen as prices in some cities nationwide have started to tumble. Is this a blip or the start of a larger tre...

I know of an Abbey Dockominium boat slip available to rent for the season.
"AA" large size with an extended deck area.
Available now. $20k.
PM me and I'll pass along the details.

Selling Smart: Why a Real Estate Agent Makes All the Difference

If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress.

Getting the Price Right

Setting the right price for your house is important. And, if you’re selling your house on your own, two common issues can happen. You might ask for too much money (overpricing). Or you might not ask for enough (underpricing). Either can make it hard to sell your house.

To avoid these problems, team up with a real estate agent. Agents know how to figure out the perfect price because they have a deep understanding of the local housing market.

Understanding and Performing Paperwork

Selling a house involves a bunch of paperwork and legal documentation that has to be just right. There are a lot of rules and regulations to follow, and that makes it a bit tricky for homeowners to manage...

Selling Smart: Why a Real Estate Agent Makes All the Difference If you’re considering selling your house on your own as a “For Sale by Owner” (FSBO), you want to think about if it’s really worth the extra stress.

Here's an attractive like new chalet style home located across the street from Geneva Lake with a Transferable Boat Slip located just a short walk or golf cart ride to the Association lakefront park. You'll enjoy partial views of the lake from the expansive covered porch as well as several rooms inside. Impressive Great Room has wood floors, open kitchen with stainless appliances, granite countertops, island serving area and seating, two dining areas, two story stone fireplace and vaulted ceilings. All ensuite bedrooms, main floor primary bedroom and laundry, open loft office area, walkout lower level with large family room, game area and full bath. Oversized 2 car tandem garage and spacious rear deck overlooking the backyard patio area. South Shore location, move-in condition.

If you're feeling challenged by affordability in today's market, we need to talk about options.

Learn more at https://BetterHomeowners.com/BobWebster/2024/06/10/Your-own-front-door

The home appraisal can be a major source of stress for homebuyers. Buyers have little to no control over it and are legally prohibited from trying to influence the appraisal. However, an unfavorable or error-ridden appraisal can sink the entire sale.

11 Questions Every Buyer Should Ask About The Appraisal There are basic things you can do to help ensure your home appraisal goes smoothly, or even prevent a bad appraisal report. The accuracy of the appraisal is going to depend on whether the appraiser “gets” the property. That is, are they familiar with the area and type of property, can they find ...

SOLD in the Wooddale Association with Geneva Lake Access!
N1871 Woddale Drive, Linn | $635,000

The Wealth-Building Power of Homeownership [INFOGRAPHIC]

If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time. According to the FHFA, home values have increased by 315.7% since 1991. Home equity is one reason owning your own place can really pay off in the long run. When you're ready, DM me.

The Wealth-Building Power of Homeownership [INFOGRAPHIC] If you’re trying to decide if buying a home is worth it, consider the long-term benefits, like building equity as home values grow over time.

Cold plunge pools are one of the latest wellness trends making the rounds—and homeowners are taking note by installing them in their bathrooms, basements, and backyards.

Is It Worth It: Adding a Cold Plunge Pool The ice-bathing movement has become so popular that research firm Future Market Insights predicts the plunge pool market will grow by more than $200 million over the next 10 years.

The rates are the cost of doing business now and the value of homes continue to go up.

Learn more at https://BetterHomeowners.com/BobWebster/2024/06/07/Building-Wealth-with-Your-Home

Jessica Lautz, NAR Deputy Chief Economist and Vice President of Research, reacts to this week's mortgage rates.

Your Equity Could Make a Move Possible

Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now. Today’s mortgage rates are higher than the one they currently have on their home, and that’s making it harder to want to sell and make a move.

What Is Equity?

Think of equity as a simple math equation.
Your equity grows as you pay down your loan over time and as home prices climb. And thanks to the rapid home price appreciation we saw in recent years, you probably have a whole lot more of it than you realize.

The latest from the Census and ATTOM shows more than two out of three homeowners have either completely paid off their mortgages.
That means the majority of homeowners have a game-changing amount of equity right now.

How Your Equity Can Help Fuel Your Move
• Be an all-cash buyer
• Make a larger down payment

The First Step: Determine How Much Equity You Have in Your Home

Want...

Your Equity Could Make a Move Possible Many homeowners looking to sell feel like they’re stuck between a rock and a hard place right now.

Maybe you need more space because your family has grown, or perhaps you want to find a place closer to work or school.

How second-time homebuyers should approach today’s market The real estate market lately has made it a great time to sell a home — which means it’s not a very easy time to buy one, a conundrum for anyone who falls in the category of a second-time homebuyer. Even so, plenty of people are managing to make the trade from starter home to upgrade property: D...

Real estate agents provide a unique advantage compared to automated online models by harnessing their deep understanding of local market dynamics.

Learn more at https://BetterHomeowners.com/BobWebster/2024/06/06/Online-estimates-may-Be-convenient-but-not-necessarily-accurate.

The Summer 2024 issue of Lake & Country Magazine will be on shelves tomorrow, but did you know you that by signing up for my email newsletter, you can view the digital issue BEFORE the magazine is out? Message me your email address and I can get you added to the exclusive list!

The Sweet Spot for Buying Luxury Homes

If you’ve been looking for a home at the high end of your market, but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why.

There Are More Luxury Homes To Choose From

What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, they’re homes that are valued in the top 5% of any given market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing.

There are considerably more single-family luxury homes available now than there were a year ago. In fact, there are even more than there were just a month ago. This means you should have a wider variety of top-of-the-line homes to choose from, each with unique features and styles.

Rising Luxury Home Prices Can Help You Build...

The Sweet Spot for Buying Luxury Homes If you’ve been looking for a home at the high-end of your market, but haven’t found the right one, you may have put your search on hold.

It's all about seizing the opportunity for savings, financial flexibility, and homeownership that aligns perfectly with your goals and lifestyle.

How to get a lower rate and a lower price In a world of financing options, an overlooked option is adjustable rate mortgages that allow you to buy now instead of waiting for interest rates to come down while the price of homes are still going up.