AJ Realtor

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays

Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. Here are five great reasons you shouldn’t wait to sell your house.

1. While the supply of homes for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand.

2. Serious homebuyers are out looking right now. Millennials are driving homebuying demand today, and many are eager to make a purchase.

3. The desire to own a home doesn’t stop during the holidays. In fact, homes decorated for the holidays appeal to many buyers. Plus, purchasers who look for homes during the holidays are ready to buy.

4. You can restrict the showings in your house to days and times that are most convenient for you. That can help you minimize disruptions, which is especially...

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.

Home Sweet Home: The Emotional Benefits of Homeownership [INFOGRAPHIC]

While there are many financial perks to owning a home, there are also powerful non-financial benefits to consider if you’re thinking about making a move. Homeownership allows you to express yourself, gives you greater privacy and comfort, enhances your connection to your community and loved ones, and is an achievement to feel proud of. DM me today to discuss all that homeownership has to offer.

Home Sweet Home: The Emotional Benefits of Homeownership Some Highlights While there are many financial perks to owning a home, there are also powerful non-financial benefits to consider if you’re thinking about making a move. Homeownership allows you to express yourself, gives you greater privacy and comfort, enhances your connection to your community ...

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What Buyers Need To Know About the Inventory of Homes Available for Sale

If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market.

According to Calculated Risk, for the week ending in November 18th, there were 47.7% more homes available for sale than there were at the same time in 2021. And having more options for your home search may be exactly what you need to feel confident about making a move.

>>What Caused the Growth in Housing Inventory This Year?

The increase we’ve seen in housing supply this year isn’t from the source you think it is. Rather than an influx of recent homeowners listing their houses for sale (known as new listings), the primary reason the supply has grown is because homes are staying on the market a bit longer (known as active...

What Buyers Need To Know About the Inventory of Homes Available for Sale If you’re thinking about buying a home, you’re likely trying to juggle your needs, current mortgage rates, home prices, your schedule, and more to try to decide if you want to jump into the market.

What Homeowners Want To Know About Selling in Today’s Market

If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it's not the peak intensity we saw during the pandemic, we’re still in a sellers’ market.

Here are a few things experts say today’s sellers need to consider.

>>Be Willing To Negotiate

This year, the supply of homes for sale has increased as the market cooled. Even though inventory is still low overall, buyers today have more options, and with that comes more negotiation power.

As a seller, that means you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today.

>>Price Your Home at Market Value

Pricing your house appropriately so you can catch the eyes of serious buyers is important.

You don’t want to overreach with your price and...

What Homeowners Want To Know About Selling in Today’s Market If you’re thinking about selling your house, you’re likely hearing about the cooling housing market and wondering what that means for you. While it's not the peak intensity we saw during the pandemic, we’re still in a sellers’ market. That means you haven’t missed your window. Realtor.com ...

Mortgage Rates Will Come Down, It’s Just a Matter of Time

Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. This is because the average 30-year fixed mortgage rate has doubled this year, severely limiting homebuying power for consumers. This month, the average rate for financing a home briefly rose over 7% before coming back down into the high 6% range. But we’re starting to see a hint of what mortgage interest rates could look like next year.

As long as inflation is high, we’ll see higher mortgage rates. Recently, we’ve seen indications that inflation may be cooling, giving us a glimpse into what may happen in the future. The mortgage market is eagerly awaiting positive news on inflation. As Ali Wolf, Chief Economist at Zonda, says, “The housing market is expected to face continued uncertainty heading into 2023 as consumers...

Mortgage Rates Will Come Down, It’s Just a Matter of Time This past year, rising mortgage rates have slowed the red-hot housing market. Over the past nine months, we’ve seen fewer homes sold than the previous month as home price growth has slowed. All of this is due to the fact that the average 30-year fixed mortgage rate has doubled this year, severely ...

Should You Update Your House Before You Sell? Ask a Real Estate Professional. [INFOGRAPHIC]

You may be wondering what needs to be renovated before you sell your house. In today’s shifting market, making your house appealing is more important than ever. That’s why it’s essential to lean on a real estate professional who has in-depth knowledge of today’s housing market. They know what buyers are looking for and how to highlight any upgrades you make. DM me so you know where to focus your efforts so your house will stand out in a today’s market.

Should You Update Your House Before You Sell? Ask a Real Estate Professional. Some Highlights You may be wondering what needs to be renovated before you sell your house. In today’s shifting market, making your house appealing is more important than ever. That’s why it’s essential to lean on a real estate professional who has in-depth knowledge of today’s housing marke...

More People Are Finding the Benefits of Multigenerational Households Today

The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational living has increased over the past 50 years.

As you consider this option for your own home search, know it could help you on your homeownership journey and provide you with other incredible benefits along the way.

>>Living with Loved Ones Could Help You Achieve Your Homeownership Goals

There are several reasons people choose to live in a multigenerational household, and for many, the arrangement is a personal one. But according to the Pew Research Center, the top reason people choose to live together today is financial.

A recent study from Freddie Mac also finds more people are choosing to buy a home together so they can save money in the homebuying process.

For these...

More People Are Finding the Benefits of Multigenerational Households Today If you’re thinking of buying a home and living with siblings, parents, or grandparents, then multigenerational living may be for you. The Pew Research Center defines a multigenerational household as a home with two or more adult generations. And the number of individuals choosing multigenerational...

Top Questions About Selling Your Home This Winter

There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house.

>>1. Should I Wait To Sell?

Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market.

While buyers have regained some negotiation power as inventory has grown, you haven’t missed your window to sell. Your house could still stand out since inventory is low, especially if you list now while other sellers hold off until after the holiday rush and the start of the new year.

>>2. Are Buyers Still Out There?

If you’re thinking of selling your house but are hesitant because you’re worried buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone...

Top Questions About Selling Your Home This Winter There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident d...

Why It May Be Time To Add Newly Built Homes to Your Search

If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home, you may have even more options and incentives than you realize.

>>More Options To Choose from and Potential Builder Incentives

While the inventory of existing homes has increased this year, it’s still below more typical years like 2019. While it’s a smaller segment of the overall inventory of homes for sale, the supply of newly built homes has grown even more.

Because the inventory of newly built homes has grown so much, builders are motivated to sell their properties before they build more. Back in the housing crash of 2008, builders were building too many homes, and that oversupply is part of what...

Why It May Be Time To Add Newly Built Homes to Your Search If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. If you’re willing to work with a trusted agent to consider a newly built home, you may have even more options and incentives than you re...

Home Equity: A Source of Strength for Homeowners Today

Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:

“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.”

But even though the volume of homeowners at risk is very low, there is still a small percentage of homeowners who may be coming face to face with foreclosure as a possibility today.

The good news is there are alternatives available to help you avoid going through the foreclosure process, including:

• Reinstatement
• Loan modification
• Deed-in-lieu of foreclosure
• Short sale

But before you go down any...

Home Equity: A Source of Strength for Homeowners Today Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:

VA Loans: Making Homes for the Brave Achievable [INFOGRAPHIC]

VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Dream. One way we can honor and thank our veterans is to ensure they have the best information about the benefits of VA home loans.

VA Loans: Making Homes for the Brave Achievable Some Highlights VA Loans can help make homeownership possible for those who have served our country. These loans offer great benefits for eligible individuals and can help them buy a VA-approved house or condo, build a new home, or make improvements to their house. Homeownership is the American Drea...

VA Loans Can Help Veterans Achieve Their Dream of Homeownership

For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits.
Here are some things you should know about VA loans before you start the homebuying process.

VA home loans provide a pathway to homeownership for those who have served our nation.

Top Benefits of the VA Home Loan Program

In addition to helping eligible buyers achieve their homeownership dreams, VA loans have several other great benefits for buyers who qualify. According to the Department of Veteran Affairs:

• Qualified borrowers can often purchase a home with no down payment.
• Many other loans with down payments under 20% require Private Mortgage Insurance (PMI). VA Loans do not require PMI, which...

VA Loans Can Help Veterans Achieve Their Dream of Homeownership For over 78 years, Veterans Affairs (VA) home loans have provided millions of veterans with the opportunity to purchase homes of their own. If you or a loved one have served, it’s important to understand this program and its benefits.

What’s Ahead for Mortgage Rates and Home Prices?

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.

>>Mortgage Rates Will Continue To Respond to Inflation

There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month.

Because we’re in unprecedented territory, it’s hard to say with certainty where mortgage rates will go from here. Projecting the future of mortgage rates is far from an exact science, but experts do agree that, moving forward, mortgage rates will...

What’s Ahead for Mortgage Rates and Home Prices? Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move...

The Majority of Americans Still View Homeownership as the American Dream

Buying a home is a powerful decision, and it remains a key part of the American Dream. Let’s explore just a few of the reasons why so many Americans continue to value homeownership.

>>The Financial Benefits of Owning a Home

Over time, owning a home not only helps boost your own net worth, but it also sets future generations up for success as you pass that wealth down. That may be why the Mynd report also says:

“Most Americans (78%) still associate homeownership with the ‘American dream.’ And nearly two-thirds of Americans (65%) see homeownership as a means of building intergenerational wealth.”

>>The Non-Financial Benefits of Homeownership

While the financial benefits of owning a home are important, becoming a homeowner impacts you on a social and emotional level, too. As Mark Fleming, Chief Economist for First American...

The Majority of Americans Still View Homeownership as the American Dream Buying a home is a powerful decision, and it remains a key part of the American Dream. In fact, the 2022 Consumer Insights Report from Mynd found the majority of people polled still view homeownership as a key life achievement. Let’s explore just a few of the reasons why so many Americans continue...

Key Factors Affecting Home Affordability Today

While it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here are three measures used to establish home affordability: home prices, mortgage rates, and wages.

>>1. Mortgage Rates

This is the factor most people are focused on when they talk about homebuying conditions today. So far, current rates are almost four full percentage points higher than they were at the beginning of the year.

That increase in mortgage rates is impacting how much it costs to finance a home purchase, creating a challenge for many buyers that’s pricing some out of the market.

>>2. Home Prices

The second factor at play is home prices. Home prices have made headlines over the past few years because they skyrocketed during the pandemic.

But while prices are still elevated in many markets, some areas...

Key Factors Affecting Home Affordability Today Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren...

Homeownership Wins Over Time [INFOGRAPHIC]

If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 290.2% since 1991. Homeownership wins in the long run. If you’re ready to buy a home, DM me today.

Homeownership Wins Over Time Some Highlights If you’re questioning whether or not to buy a home this year due to today’s cooling market, consider the long-term financial benefits of homeownership. As a homeowner, equity increases your wealth. On average, nationwide, home prices appreciated by 2% since 1991. Homeownership wi...

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be.

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...

Do You Believe Homeownership Is Out of Reach? Maybe It Doesn’t Have To Be. 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, but it may not be exactly the way previous generations have done it. ...

Sell Your House Before the Holidays

As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year.

If you’re ready to make your decision, here are three reasons you may want to consider selling before the holidays.

>>1. Get One Step Ahead of Other Sellers

Homeowners are less likely to list their houses toward the end of the year. Selling now, while other homeowners may hold off until after the holidays, can help your house stand out.

Start the process with a real estate professional today so you can get your house on the market and get ahead of your competition.

>>2. Get In Front of Serious Buyers This Season

Even though housing supply has increased this year as buyer demand has moderated, it’s still low overall. That means there aren’t enough...

Sell Your House Before the Holidays As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, finding...

3 Trends That Are Good News for Today’s Homebuyers

As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you when you go to buy a home today.

>>1. More Homes To Choose from

According to Calculated Risk, the supply of homes for sale increased by 39.5% for the week ending October 28 compared to the same week last year.

Even though it’s still a sellers’ market and supply is still lower than more normal levels, you have more to choose from in your home search. That makes finding your dream home a bit less difficult.

>>2. Bidding Wars Have Eased

According to the National Association of Realtors (NAR), the average number of offers on recently sold homes has declined. This September, the average was 2.5 offers per sale. In contrast, last September, the average was 3.7 offers per sale.

If you...

3 Trends That Are Good News for Today’s Homebuyers While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for those people still looking to buy a home.

Taking the Fear out of Saving for a Home

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...

Taking the Fear out of Saving for a Home 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. And to do that, turn to trusted real estate professionals. They can ...

Applying for a Mortgage Doesn’t Have To Be Scary [INFOGRAPHIC]

Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can get pre-approved and begin your home search. Any major life change can be scary, and buying a home is no different. DM me so you have an advisor by your side to take fear out of the equation.

Applying for a Mortgage Doesn’t Have To Be Scary Some Highlights Even with higher mortgage rates, the mortgage process doesn’t need to be something you fear. Here are some steps to help as you set out to buy a home. Know your credit score and work to build strong credit. When you’re ready, lean on the pros and connect with a lender so you can ...

Millennials Are Still a Driving Force of Today’s Buyer Demand

If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. Your house may be exactly what they’re looking for.

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. Here’s why.

>>Millennial Homebuying Power

While there’s no denying higher mortgage rates are making it more challenging to afford a home today, many millennials are still eager and able to buy homes – whether it’s their first or they’re moving up. That’s in large part because of the value they place on education.

A recent article from First American says millennials may...

Millennials Are Still a Driving Force of Today’s Buyer Demand If you’re thinking about selling your house but wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008

With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. The good news is, there’s concrete data to show why this is nothing like the last time.

There were too many homes for sale during the housing crisis (many of which were short sales and foreclosures). That caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available, primarily due to almost 15 years of underbuilding homes.

There just isn’t enough inventory on the market for home prices to come crashing down like they did last time.

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Back then, lending institutions took on much greater risk in both the person and the mortgage...

3 Graphs Showing Why Today’s Housing Market Isn’t Like 2008 With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to...

What Happens to Housing when There’s a Recession?

Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly.

To add to that sentiment, housing is typically one of the first sectors to rebound during a slowdown.

Part of that rebound is tied to what has historically happened to mortgage rates during recessions. Here’s a look back at rates during previous economic slowdowns to help put your mind at ease.

>>Mortgage Rates Typically Fall During Recessions

Historical data helps paint the picture of how a recession could impact the cost of financing a home. Looking at recessions in this country going all the way back to 1980, the graph below shows...

What Happens to Housing when There’s a Recession? Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would re...

Pre-Approval Is a Critical First Step on Your Homebuying Journey

If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why.

>>What Is Pre-Approval?

To better understand why pre-approval is key, it’s important to know what pre-approval is. As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand your true price range and how much money you can borrow.

That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with mortgage rates rising and impacting affordability, a solid understanding of your...

Pre-Approval Is a Critical First Step on Your Homebuying Journey If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why.