The Brown Home Team

Real Estate News You Can Use from Susan

3 Keys To Hitting Your Homeownership Goals in 2024

If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

1. Know Your Why

You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many compelling reasons to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time. Use your why and your motivation as a guidepost in partnership with an expert advisor to make sure your move gives you a lasting sense of accomplishment.

2. Figure Out What Your Next Home Needs To Look Like

You know you want to move, but how would you describe your dream home? The number of homes for sale has grown recently, and...

3 Keys To Hitting Your Homeownership Goals in 2024 If buying or selling a home is your goal for 2024, it’s important to understand today’s housing market, know your why, and work with industry experts to bring your homeownership vision for the new year into focus.

Real Estate News You Can Use from Susan

Thinking About Buying a Home? Ask Yourself These Questions

If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market. Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.

1. Where Do I Think Home Prices Are Heading?

One reliable place you can turn to for information on home price forecasts is the Home Price Expectations Survey from Fannie Mae – a survey of over one hundred economists, real estate experts, and investment and market strategists.

According to the most recent release, the experts are projecting home prices will continue to rise at least through 2028. And home prices rising, even at a more moderate pace, is good news not just for the market, but for you too.

2. Where Do I Think Mortgage Rates Are Heading?

Over the past year, mortgage rates spiked up...

Thinking About Buying a Home? Ask Yourself These Questions If you’re thinking of buying a home this year, you’re probably paying closer attention than normal to the housing market.

Real Estate News You Can Use from Susan

What You Need To Know About Saving for a Home in 2024

If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.
Here are just a few things experts say you should be thinking about.

1. Down Payment

Saving for your down payment is likely top of mind as you set out to buy a home. But do you know how much you’ll need? While every buyer’s situation is different, there’s a common misconception that putting 20% of the purchase price down is required.

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

2. Closing Costs

Bankrate explains: “Closing costs are the fees you pay when finalizing a real estate transaction, whether you’re refinancing a mortgage or buying a new home. These costs can amount to 2 to 5 percent of the...

What You Need To Know About Saving for a Home in 2024 If you’re planning to buy a home, knowing what to budget for and how to save may sound intimidating – but it doesn’t have to be.

Real Estate News You Can Use from Susan

Sell Smarter: Why Working with a Real Estate Agent May Beat Going Solo

If you're thinking about selling your house on your own, called “For Sale by Owner” or FSBO, there are some important things to consider. Going this route means taking on a lot of responsibilities by yourself – and that can be a bit of a headache.

A recent report from the National Association of Realtors (NAR) found two of the most difficult tasks for people who sell their house on their own are getting the price right and understanding and performing paperwork.

Getting the Price Right

Setting the right price for your house is important when you're trying to sell it. If you're selling your house on your own, two common issues can happen. For starters, you might ask for too much money (overpricing). Alternatively, you might not ask for enough (underpricing). Either can make it hard to sell your house. To avoid these problems, it's a good...

www.simplifyingthemarket.com

Real Estate News You Can Use from Susan

Why Now Is Still a Great Time To Sell Your House

If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there. The housing market isn't as frenzied as it was during the ‘unicorn’ years when buyer demand was through the roof, mortgage rates were historically low, and home values rose like we’ve never seen before. But that doesn’t mean the market is at a standstill.

Nationally, demand is still high compared to the last normal years in the housing market and plenty of buyers are making moves right now. Here’s the data to prove it.

Sellers Are Still Seeing Multiple Offers

According to the latest data from the National Association of Realtors (NAR), sellers are receiving an average of 2.5 offers on their houses.

It’s true that’s fewer than the number of offers sellers were receiving during the ‘unicorn’ years. But compared to last...

Why Now Is Still a Great Time To Sell Your House If you were worried buyer demand disappeared when mortgage rates went up, the data shows there are plenty of interested buyers still out there.

The perfect Christmas gift 🎁 - a New Home 🎄🗝️🏡!

Real Estate News You Can Use from Susan

Why Mortgage Rates Could Continue To Decline

When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed). But how do those two things impact you and your homebuying plans? Here's what you need to know.

The Federal Funds Rate Hikes Have Stalled

One of the Fed’s primary goals is to lower inflation. In order to do that, they started raising the Federal Funds Rate to slow down the economy. Even though this doesn’t directly dictate what happens with mortgage rates, it does have an impact.

Recently inflation has started to cool, a signal those increases worked and are bringing inflation back down. As a result, the Fed’s hikes have gotten smaller and less frequent. In fact, there haven’t been any increases since July.

This indicates the Fed thinks the economy and inflation are improving. Why does that matter to you and...

Why Mortgage Rates Could Continue To Decline When you read about the housing market, you’ll probably come across some information about inflation or recent decisions made by the Federal Reserve (the Fed).

Real Estate News You Can Use from Susan

Down Payment Assistance Programs Can Help Pave the Way to Homeownership

If you’re looking to buy a home, your down payment doesn’t have to be a big hurdle. According to the National Association of Realtors (NAR), 38% of first-time homebuyers find saving for a down payment the most challenging step. But the reality is, you probably don’t need to put down as much as you think.

Data from NAR shows the median down payment hasn’t been over 20% since 2005. In fact, the median down payment for all homebuyers today is only 15%. And it’s even lower for first-time homebuyers at 8%. But just because that’s the median, it doesn’t mean you have to put that much down. Some qualified buyers put down even less.

First-Time and Repeat Buyers Are Often Eligible

According to Down Payment Resource, there are thousands of programs available for homebuyers – and 75% of these are down payment assistance programs.

And it’s not just...

www.simplifyingthemarket.com

Real Estate News You Can Use from Susan

Your Homebuying Adventure [INFOGRAPHIC]

Here are the key milestones you’ll encounter on your path to homeownership. From building your team, to house hunting, all the way to moving into your new home – it’s an exciting adventure. Your journey starts here. Let’s connect so you have expert guidance each step of the way.

Your Homebuying Adventure [INFOGRAPHIC] Here are the key milestones you’ll encounter on your path to homeownership.

Real Estate News You Can Use from Susan

Experts Project Home Prices Will Rise over the Next 5 Years

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.

To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.

Experts Project Ongoing Appreciation

While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group.

The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices...

Experts Project Home Prices Will Rise over the Next 5 Years Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future.

Real Estate News You Can Use from Susan

When You Sell Your House, Where Do You Plan To Go?

If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options. But you may also be wondering, once you sell, how does the current supply impact your own move? And, will you be able to find a home you want to buy with inventory this low?

One thing that can help you find your next home is exploring all your options, including both homes that have been lived in before as well as newly built ones. Let’s look at the benefits of each one.

The Pros of Newly Built Homes

First, let’s look at the advantages of purchasing a newly constructed home. With a brand-new home, you’ll be able to:

1. Create your perfect home.

2. Cash-in on energy efficiency.

3. Minimize the need for repairs.

4. Have brand new everything.

The Pros of Existing...

When You Sell Your House, Where Do You Plan To Go? If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options.

Real Estate News You Can Use from Susan

Why the Economy Won’t Tank the Housing Market

If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. And many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago.

However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less than half (48%) of economists believe a recession will actually occur within the next year.

If those expert projections are correct, more people will lose their jobs in the upcoming year. And job losses of any kind are devastating for those people and their loved ones.

However, the question here is: will there be enough job losses to cause a wave of foreclosures that will crash the housing...

Why the Economy Won’t Tank the Housing Market If you’re worried about a coming recession, you’re not alone.

Real Estate News You Can Use from Susan

Why Homeowners Feel Thankful for Their Homes [INFOGRAPHIC]

Here are three reasons why homeowners feel thankful for their homes. First, it’s a safe place that can give you a greater sense of comfort, safety, and security. Second, it gives you freedom of expression. From the color of the paint to the art on the walls, you can express your style and your personality. Third, it provides a sense of community. Owning your home helps you build lasting friendships with neighbors and connects you to your community. If you're thinking of buying a home and want to hear more about the potential benefits, DM me.

www.simplifyingthemarket.com

Real Estate News You Can Use from Susan

Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season?

This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays? Some sellers with homes already on the market may even remove their listing until the new year.

But the truth is, many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for.

To help prove that point, here are four reasons you shouldn’t wait to sell your house.

1. The desire to own a home doesn’t stop during the holidays. A recent article from Investopedia says: “Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

2. While the supply of homes for sale has increased a little bit lately, overall...

Is Your House the Top Thing on a Buyer’s Wish List this Holiday Season? This time every year, homeowners who are planning to move have a decision to make: sell now or wait until after the holidays?

Real Estate News You Can Use from Susan

People Are Still Moving, Even with Today’s Affordability Challenges

If you're thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising. That much is true.

According to NAR, based on the pace of sales right now, just under 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

• 3.96 million homes divided by 365 days in a year = 10,849 houses sell each day
• 10,849 divided by 24 hours in a day = 452 houses sell per hour
• 452 divided by 60 minutes in an hour = about 8 houses sell each minute

So, on average, over 10,000 homes sell each day in this country. Whether you're a buyer or a seller, this goes to show there are still ways to make your move possible, even at a time when affordability is tight.

An Agent Can Help You...

People Are Still Moving, Even with Today’s Affordability Challenges If you're thinking about buying or selling a home, you might have heard that it’s tough right now because mortgage rates are higher than they’ve been over the past few years, and home prices are rising.

Real Estate News You Can Use from Susan

The Latest 2024 Housing Market Forecast

The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what's ahead for the housing market.

Experts Forecast Ongoing Home Price Appreciation

Looking forward, experts project home prices will continue to rise next year, but not quite as much as they did this year. Even though the expected rise in 2024 isn't as big as in 2023, it's important to understand home price appreciation is cumulative. That ongoing price growth is a big part of why owning a home can be a smart decision in the long run.

Projections Show Sales Should Increase Slightly Next Year

While expectations are for just a slight uptick in total sales, improved activity next year is a good thing for the housing market, and for...

The Latest 2024 Housing Market Forecast The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home.

Real Estate News You Can Use from Susan

Life-Changing Events That Move the Housing Market

Life is a journey filled with unexpected twists and turns, like the excitement of welcoming a new addition, retiring and starting a new adventure, or the bittersweet feeling of an empty nest. If something like this is changing in your own life, you may be considering buying or selling a house. That’s because through all these life-altering events, there is one common thread—the need to move.

Lean On a Real Estate Professional for Help

Whether you're beginning your search for a home or preparing to sell your current house, you don't have to go it alone. With their expertise, a real estate agent is an invaluable partner who can help you smoothly transition through these big moments in your life.

When Buying a Home

If you’re welcoming a new addition and want more space, the need for a new home may be a top priority. While higher home prices and mortgage rates are...

www.simplifyingthemarket.com

We are approaching the most wonderful time of the year, and only 41 days until Christmas 🎄✨ Here’s a list of some holly, jolly activities to enjoy!

Wishing your families all the magical memories this holiday season 🎁🏡

Real Estate News You Can Use from Susan

Homeowner Net Worth Has Skyrocketed

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.

The average homeowner’s net worth is almost 40X greater than a renter’s.

One of the biggest reasons homeowner net worth skyrocketed is home equity.

Over the last few years, known as the ‘unicorn’ years for housing, home prices went through the roof. That’s because there weren’t enough homes for sale, and there was a big influx of buyers rushing to buy them and take advantage of the then record-low mortgage rates. That imbalance of supply and demand pushed prices...

Homeowner Net Worth Has Skyrocketed If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision.

Real Estate News You Can Use from Susan

Thinking About Using Your 401(k) To Buy a Home?

Are you dreaming of buying your own home and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why.

The Numbers May Make It Tempting

It can be really tempting when you have a lot of money saved up in your 401(k) and you see your dream home on the horizon. But remember, dipping into your retirement savings for a home could cost you a penalty and affect your finances later on. That's why it's important to explore all your options when it comes to saving for a down payment and buying a home.

Alternative Ways To Buy a Home

Using your 401(k) is one way to finance a home, but it's not the only option. Before you decide...

www.simplifyingthemarket.com

Real Estate News You Can Use from Susan

Don’t Believe Everything You Read About Home Prices

According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months. But why do roughly 1 in 4 people feel that way?

It has a lot to do with all the negative talk about home prices over the past year. Since late 2022, the media has created a lot of fear about a price crash and those concerns are still lingering.

The answer is simple. Listen to the professionals who specialize in residential real estate.

Market experts acknowledge that nationally, prices did dip down slightly late last year, but that was short-lived. Data shows prices have already rebounded this year after that slight decline in 2022.

What’s worth noting is that, just a few short weeks ago, the Fannie Mae forecast was for 3.9% appreciation in 2023. In the forecast that just came out, that projection was updated from 3.9% to 6.7%...

Don’t Believe Everything You Read About Home Prices According to the latest data from Fannie Mae, 23% of Americans still think home prices will go down over the next twelve months.

Showing at Inspiration in Wylie today, gorgeous amenity center!

Real Estate News You Can Use from Susan

What Are Accessory Dwelling Units and How Can They Benefit You?

Maybe you’re in the market for a home and are having a hard time finding the right one that fits your budget. Or perhaps you’re already a homeowner in need of extra income or a place for loved ones. Whether as a potential homebuyer or a homeowner with changing needs, accessory dwelling units, or ADUs for short, may be able to help you reach your goals.

What Is an ADU?

As AARP says:
• “An ADU is a small residence that shares a single-family lot with a larger, primary dwelling.”
• “An ADU is an independent, self-contained living space with a kitchen or kitchenette, bathroom and sleeping area.”
• “An ADU can be located within, attached to, or detached from the main residence.”

The Benefits of ADUs

• Living Close by, But Still Separate: According to Freddie Mac: “Having an accessory dwelling unit on an existing property has become a popular way for...

www.simplifyingthemarket.com

Real Estate News You Can Use from Susan

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Here’s what you really need to know about a few myths causing fear in today’s housing market. Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment. If you have other fears or reservations about buying a home today, DM me so you have an expert to help clear those up.

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC] Here’s what you really need to know about a few myths causing fear in today’s housing market.

Real Estate News You Can Use from Susan

Invest in Yourself by Owning a Home

Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner.

Home Values Appreciate over Time

There’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good news for the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run, home values rise.

As prices rise, and as you pay down your mortgage, you build equity. Over time, that growing equity gives your net worth a boost.

Rent Keeps Going Up Through the Years

Another reason you may want to consider buying a home...

Invest in Yourself by Owning a Home Are you wondering if it makes sense to buy a home right now?

Real Estate News You Can Use from Susan

Home Price Growth Is Returning to Normal [INFOGRAPHIC]

If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year. Based on typical seasonality in the market, prices go up most in the spring during the peak buying season, and then price growth slows down as the year goes on. Home prices aren’t falling. They’re just rising slower and going back to normal seasonal trends. That’s a good thing. If you're curious about prices in our area, let’s connect.

Home Price Growth Is Returning to Normal [INFOGRAPHIC] If you're wondering what’s happening with home prices, know they’re still rising, just at a slower pace – and that’s perfectly normal for this time of year.

Real Estate News You Can Use from Susan

The Difference Between Renting and Buying a Home [INFOGRAPHIC]

When deciding between buying a home or renting, think about these three important factors. Buying a home means owning a tangible and valuable asset, avoiding rising rents, and growing your wealth over time. If you’re ready to enjoy the advantages of owning a home, DM me to discuss your options.

The Difference Between Renting and Buying a Home [INFOGRAPHIC] When deciding between buying a home or renting, think about these three important factors.

I am thrilled for the Yang family, and so happy to be a part of their home finding process!