Deepti Mittal, Partner Mittal Talwar Team at Douglas Elliman Real Estate

Lower Mortgage Rates Boost Your Buying Power

Mortgage rates are trending down and that’s great news for your bottom line. As rates drop, your monthly payment on your next home does too. Even a small change in mortgage rates can have a big impact on your purchasing power. If you put your search on hold when mortgage rates were higher, think about how much you could save now that rates are coming down.

Lower Mortgage Rates Boost Your Buying Power Mortgage rates are trending down and that’s great news for your bottom line.

Have you heard the good news? Mortgage rates are trending down.

And, if you’re looking to buy a home, that helps your bottom line. As rates drop, your monthly payment on your next home does too.

The change we’ve already seen could save you hundreds of dollars a month.

Have you felt like homeownership is out of reach? You aren’t alone.

But here’s some good news: builders are focusing on bringing smaller, more affordable homes to market. And if we open up your search to include those new builds, we may be able to find the right fit for your budget.

Let’s chat if you’re ready to explore what builders have to offer in and around our area.

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Mortgage rates have hit their lowest level since February 2023 – and that’s big news.

So if you’ve been sitting on the homebuying sidelines waiting for this to happen, it’s time to talk about making your move. Because the monthly savings is going to be a game changer for your purchasing power.

DM me and I’ll show you how the recent decline may help you get a better monthly payment than you’d expect.

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September 29 – October 5 is the best week to buy a home this year, according to a study from Realtor.com.

And with mortgage rates coming down like they have recently, that makes this sweet spot even hotter.

So, if you’re looking to make a move, DM me so we can make sure you’re ready to go.

What To Know About Closing Costs

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process. And while your down payment is probably the number one expense on your mind, don't forget about closing costs. Here’s what you need to know.

What Are Closing Costs?

Simply put, your closing costs are the additional fees and payments you have to make at closing. Some of these are one-time expenses that are baked into your closing costs. Others, like homeowners’ insurance, are initial installment payments for ongoing responsibilities you’ll have once you take possession of the home.

How Much Are Closing Costs?

Freddie Mac says: “Closing costs vary greatly depending on your location and the price of your home. Typically, you should be prepared to pay between 2% and 5% of the home purchase price in closing fees.”

Tips To...

What To Know About Closing Costs Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process.

The Real Story Behind What’s Happening with Home Prices

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one. With so much information out there, it can be hard to figure out your next move.

Home Price Growth Is Slowing, but Prices Aren’t Falling Nationally

Throughout the country, home price appreciation is moderating. What that means is, prices are still going up, but they're not rising as quickly as they were in recent years.

What’s Next for Home Prices? It’s All About Supply and Demand

Nationally, the number of homes for sale is going up, but there still aren’t enough of them to meet today’s buyer demand. That’s keeping upward pressure on prices – even though recent inventory growth has caused that home price appreciation to slow. Danielle Hale, Chief Economist at Realtor.com, said, “. . . today’s low but quickly improving for-sale inventory has ushered in more market...

The Real Story Behind What’s Happening with Home Prices If you’re wondering what’s going on with home prices lately, you’re definitely not the only one.

Planning to buy a home? Make sure you’re budgeting not just your down payment, but for your closing costs too.

And if you want to try to cut down on those a bit, try these tips. Negotiate with the seller for concessions, shop around for more affordable home insurance, and look into closing cost assistance programs. DM me for more homebuying tips.

Even though affordability is improving, it’s still tight. So, it’s important to take some time early on to talk to a lender about pre-approval.

As part of that conversation, you’ll go over your loan options, what you can borrow, and your monthly payment, so you can gauge what really works for your budget.

How long have you lived in your house? Because if it’s been a while, chances are you have a whole lot of equity built up.

In the last 5 years, home values have gone up by almost 60%. And in 30 years, they’ve more than tripled.

When you sell, you can use the equity that gives you to your advantage. Want to find out more? DM me.

Thinking about moving in 2025 and wondering what to expect?

In their early 2025 housing market forecasts, experts say mortgage rates will come down slightly. As that happens, more buyers will jump back into the market, so more homes will sell. And that’ll keep upward pressure on prices.

Want to talk to an expert about what that really means for you? DM me.

Early Forecasts for the 2025 Housing Market Infographic

Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead. Mortgage rates will come down slightly. More homes will sell. And prices will rise more moderately. Let’s connect to go over what these forecasts mean for your move and what to expect from our local market in 2025.

Early Forecasts for the 2025 Housing Market Infographic Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead.

Trying to decide if you want to sell now or wait? Here’s a tip. Consider why you want to move.

Maybe you, like so many other homeowners, want to be closer to your loved ones, find that your house is too small, or you’ve recently had a big change in your life.

Whatever your reason, it may be motivation enough to sell. DM me if you’re ready to get started.

This “Buyer Guide” will give you powerful marketing materials to share with clients, and help you simply and effectively explain the current market opportunities to potential buyers!

Are You Thinking About Buying a Home? The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few thin...

How the Federal Reserve’s Next Move Could Impact the Housing Market

Now that it’s September, all eyes are on the Federal Reserve (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that inflation is cooling, and the job market is slowing down.

Why a Federal Funds Rate Cut Matters

The Federal Funds Rate is one of the key factors that influences mortgage rates – things like the economy, geopolitical uncertainty, and more also have an impact.

When the Fed cuts the Federal Funds Rate, it signals what’s happening in the broader economy, and mortgage rates tend to respond.

As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), points out: “Once the Fed kicks off a rate-cutting cycle, we do expect that mortgage rates will move somewhat lower.”

And any upcoming Federal Funds Rate cut likely won’t be a one-time...

How the Federal Reserve’s Next Move Could Impact the Housing Market Now that it’s September, all eyes are on the Federal Reserve (the Fed).

Most experts project the Fed will start cutting the Federal Funds Rate this month.

And while the Fed doesn’t control mortgage rates, a Federal Funds Rate cut can have an impact. It should help keep the downward mortgage rate momentum going, especially if inflation and the economy continues to cool.

If you want to talk more about what that means for you, DM me.

Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Are you on the fence about whether to sell your house now or hold off? It’s a common dilemma, but here’s a key point to consider: your lifestyle might be the biggest factor in your decision. While financial aspects are important, sometimes the personal motivations for moving are reason enough to make the leap sooner rather than later.

An annual report from the National Association of Realtors (NAR) offers insight into why homeowners like you chose to sell. All of the top reasons are related to life changes.

If you, like the homeowners in this report, find yourself needing features, space, or amenities your current home just can’t provide, it may be time to consider talking to a real estate agent about selling your house. Your needs matter. That agent will walk you through your options and what you can expect from today’s market, so you can make a...

Should You Sell Now? The Lifestyle Factors That Could Tip the Scale Are you on the fence about whether to sell your house now or hold off?

Could a 55+ Community Be Right for You?

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you. Here’s some information that could help you make your decision.

What Is a 55+ Community?

It’s important to note that these communities aren’t just for people who need extra support – they can be pretty vibrant, too. Many people who are downsizing opt for this type of home because they’re looking to be surrounded by people in a similar season of life. U.S. News explains: “The terms ‘55-plus community,’ ‘active adult community,’ ‘lifestyle communities’ and ‘planned communities’ refer to a setting that caters to the needs and preferences of adults over the age of 55. These communities are designed for seniors who are able to care for themselves but may be looking to downsize to a community with others their same age and with similar interests.”

Why It’s Worth...

Could a 55+ Community Be Right for You? If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you.

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Equestrian Escapes: The Best Getaways Around the Globe | Elliman Insider When many envision their ideal getaway, they dream of days spent lounging on pristine beaches or exploring the historic attractions of opulent European cities. But for those with a passion for horses, the archetype of a perfect trip may look a bit different. When planning your next holiday, prioriti...

How To Avoid Today's Top Seller Mistakes

Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too? The biggest missteps are pricing a house too high, skipping repairs, not being objective, and not being willing to negotiate. And the best way to avoid falling into any of these traps is to partner with a trusted real estate agent who knows exactly what to do. Let’s connect so you have someone to lean on for advice.

How To Avoid Today's Top Seller Mistakes Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?

Are We Heading into a Balanced Market?

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand. But is that going to shift now that inventory is growing? Here’s a breakdown of what you need to know.

What Is a Balanced Market?

A balanced market is generally defined as a market with about a five-to-seven-month supply of homes available for sale. In this type of market, neither buyers nor sellers have a clear advantage. Prices tend to stabilize, and there’s a healthier number of homes to choose from. And after many years when sellers had all the leverage, a more balanced market would be a welcome sight for people looking to move. The question is – is that really where the market is headed?

For now, this is still seller’s market territory – it’s just not as frenzied of a seller’s market as it’s been over the past few years.

What This Means for You and...

Are We Heading into a Balanced Market? If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand.

As inventory grows, the market is starting to balance out a bit. But don’t worry – this isn’t close to an oversupply that would cause a crash.
It just means buyers are regaining negotiation power as their options grow. And sellers need to price their house right and may want to consider some repairs to help it stand out.
Let’s connect to talk more about how this impacts you.

Wondering if the election is going to have an impact on the housing market? Here’s your answer. Usually, it only has a small and temporary effect.

Sales usually slowdown briefly, but rebound fast.

Prices tend to stay on their current trajectory for your market.

And mortgage rates often trend down in the months leading up to the election.

DM me if you want to learn more.