Carla Hunter Real Estate Sales

3 Reasons To Move in Today’s Shifting Market

The housing market is in a transition. And that gives you 3 key opportunities going into the fall. There are more homes actively for sale. Builders are motivated to sell, so a newly built home may be more achievable than you think. And mortgage rates have come down from their recent peak. If you’re ready and able to buy, you may find the housing market this fall a bit easier to navigate. Let’s connect to get started.

3 Reasons To Move in Today’s Shifting Market The housing market is in a transition. And that gives you 3 key opportunities going into the fall.

What Credit Score Do You Really Need To Buy a House?

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:

"Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage."

The trouble is most buyers overestimate the minimum credit score they need to buy a home. According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.

So, here’s a general ballpark to give you a rough idea. Experian says:

“The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the...

What Credit Score Do You Really Need To Buy a House? When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle.

The Great Wealth Transfer: A New Era of Opportunity

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.

Basically, as more Baby Boomers retire, sell businesses, or downsize their homes, more substantial assets are being passed down to younger generations. And this creates a powerful ripple effect that’ll continue over the next few decades.

Impact on the Housing Market

One of the most immediate effects of this wealth transfer is on the housing market. Home affordability has been a concern for many aspiring buyers, especially in high-demand areas. The increase in generational wealth is expected to ease some of these challenges by providing future homeowners with greater financial resources. As assets are passed down through generations, buyers may find themselves in a better position to afford homes.

Impact on the Economy

But the Great Wealth Transfer doesn’t just...

The Great Wealth Transfer: A New Era of Opportunity In recent years, there’s been a significant shift in how wealth is distributed among generations.

Is Affordability Starting To Improve?

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Here’s a look at the latest data on the three biggest factors affecting home affordability.

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid 6% to low 7% range. But there's some good news. Data from Freddie Mac shows rates have been trending down overall since May. When rates decline, it's easier to afford the home you want because your monthly payment will be lower. Just don’t expect them to go back down to 3%.

2. Home Prices

The second big thing to think about is home prices. Nationally, they’re still going up this year, but not as fast as they did a couple of years ago. As Odeta Kushi, Deputy Chief Economist at First American, says, “While...

Is Affordability Starting To Improve? Over the past couple of years, a lot of people have had a hard time buying a home.

Are There More Homes for Sale Where You Live?

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

Recent data from Realtor.com shows that nationally, there are 36.6% more homes actively for sale now compared to the same time last year. That’s a significant improvement. It gives you far more options for your move than you would’ve had just a year ago. And with supply improving, you’re also regaining a bit of negotiation power. So, if you’re someone who thought about buying a home over the last few years but were discouraged by how limited inventory was, this should be welcome news.

As Lawrence Yun, Chief Economist at NAR, says, “Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions.”

While we’re up by almost 37% year-over-year, we’re still not back to how much inventory there’d be in a...

Are There More Homes for Sale Where You Live? One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

Home Inspections For Sellers: How To Prepare

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for. As supply grows and buyers regain negotiation power, you may find you want to do some select repairs with a good return on investment before listing to get ahead of things a buyer may ask you to fix. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.

Home Inspections For Sellers: How To Prepare If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.

Where Will You Go After You Sell?

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.

So how do you decide which route to go? The choice is yours – you just need to figure out what’s most important to you.

Here are some benefits of buying a newly built home right now:

>>Have brand new everything with never-been-used appliances and materials
>>Use energy efficient options to save money and leave a smaller footprint
>>Minimize the need for repairs and benefit from builder warranties
>>Take advantage of builder concessions that can help with affordability

Ralph McLaughlin, Senior Economist at Realtor.com, shares, “Homebuyers who are looking for that ‘new-home smell’ may be in a relatively friendlier...

Where Will You Go After You Sell? If you’re planning to sell your house and move, you probably know there’s been a shortage of options available.

Mortgage Rates Down a Full Percent from Recent High

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.

After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac, they’re now at a level we haven’t seen since February.

Maybe you’re seeing this and wondering if you should ride the wave and see how low they’ll go. If that’s the case, here’s some important perspective. Remember, the record-low rates from the pandemic are a thing of the past. And if you wait for mortgage rates to drop further, you might find yourself dealing with more competition as...

Mortgage Rates Down a Full Percent from Recent High Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability.

Helpful Negotiation Tactics for Today’s Housing Market

If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market. And while that doesn’t make this a buyer’s market, it does mean buyers may be able to ask for a little more. So, sellers need to be ready for that possibility and know what they’re willing to negotiate.

Whether you’re looking to buy or sell a house, here’s a quick rundown of potential negotiations that may pop up during your transaction. That way, you’re prepared no matter which side of the deal you’re on.

What Can You Negotiate?

Most things in a home purchase are on the negotiation table. Here’s a list of just a few of those options, according to Kiplinger and LendingTree:

• Sale Price
• Home Repairs
• Fixtures
• Closing Costs
• Home Warranties
• Closing Date

One thing is true whether you’re a buyer or a seller, and that’s how much your agent can help you throughout the process. Your agent is...

Helpful Negotiation Tactics for Today’s Housing Market If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.

What Every Homeowner Should Know About Their Equity

Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their mortgages.

Today, more homeowners are getting a larger...

What Every Homeowner Should Know About Their Equity Curious about selling your home?

3 Reasons Why We’re Not Headed for a Housing Crash

Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time. Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash. Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008.

3 Reasons Why We’re Not Headed for a Housing Crash Back in 2008, there was an oversupply of homes for sale.

Why the Sandwich Generation Is Buying Multi-Generational Homes

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.

If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.

How Can It Help You Buy a Home?

Here are a few ways their caretaking situation might be helping those 33% buy a home:

• Sharing Expenses

• Built-In Childcare

Beyond just the financial reasons, buying a multi-generational home has other advantages. The Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) highlights some of the most popular, including:

• Easier To Care for Aging Parents

• Spending More Time Together

How a Real...

Why the Sandwich Generation Is Buying Multi-Generational Homes Are you a part of the Sandwich Generation?

Should You Rent Out or Sell Your House?

Figuring out what to do with your house when you're ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth?

Is Your House a Good Fit for Renting?

Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving far away, so keeping up with the ongoing maintenance would be a hassle, the neighborhood isn't great for rentals, or the house needs significant repairs before you could rent it out.

If any of this sounds like it might apply, selling might be your best option.

Are You Ready for the Realities of Being a Landlord?

Managing a rental property isn't just about collecting rent checks. It's a time-consuming and sometimes challenging job.

For example, you may get calls from tenants at all hours of the day with maintenance requests. Or you may find a tenant...

Should You Rent Out or Sell Your House? Figuring out what to do with your house when you're ready to move can be a big decision.

The Biggest Mistakes Sellers Are Making Right Now

Here’s a look at some of the most common mistakes – and how an agent will help you avoid them when you sell.

1. Overpricing Your House

Many sellers set their asking price too high and that’s why there’s an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market longer.

2. Skipping the Small Stuff

You may try to skip important repairs, thinking you can pass the task on to your buyer. But visible issues (even if they’re small) can turn off potential buyers and result in lower offers or demands for concessions.

3. Not Looking at Things Objectively

Buyers today are feeling the pinch of high home prices and mortgage rates. With affordability that tight, they may come in with an offer that’s lower than you’d want to see – especially if you didn’t stage, price, or market the house well...

The Biggest Mistakes Sellers Are Making Right Now The housing market is going through a transition.

Are Home Prices Going To Come Down?

Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means.

Here’s what Danielle Hale, Chief Economist at Realtor.com, says: “In stock market terms, a correction is generally referred to as a 10 to 20% drop in prices . . . We don't have the same established definitions in the housing market.”

In the context of today’s housing market, it doesn’t mean home prices are going to fall dramatically. It only means prices, which have been increasing rapidly over the last couple years, are normalizing a bit. In other words, they’re now growing at a slower pace. Prices vary a lot by local market, but rest assured, a big drop off isn’t what’s happening at a national level.

From 2020 to 2022, home prices skyrocketed. But, that...

Are Home Prices Going To Come Down? Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening.

Unlocking the Benefits of Your Home's Equity

Equity is the difference between what your house is worth and what you still owe on your mortgage. The typical homeowner gained $28,000 over the past year and has a grand total of $305,000 in equity. And there are a lot of great ways you can use that equity. Want to know how much equity you have? Let’s connect so you can get a Professional Equity Assessment Report (PEAR).

Unlocking the Benefits of Your Home's Equity Equity is the difference between what your house is worth and what you still owe on your mortgage.

How the Economy Impacts Mortgage Rates

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate.

The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are:

1. The Rate of Inflation
2. How Many Jobs the Economy Is Adding
3. The Unemployment Rate

What Does This Mean Moving Forward?

While mortgage rates are going to continue to be volatile in the days and months...

How the Economy Impacts Mortgage Rates As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.

A Newly Built Home May Actually Be More Budget-Friendly

If you’re in the market to buy a home, there’s some exciting news for you.

Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option.

Reason 1: Lower Median Prices for Newly Built Homes

The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from the Census and the National Association of Realtors (NAR).

Why is that? Builders are focused on building what they can sell. And right now, there’s a very real need for smaller and more affordable homes – so that’s what they’ve been bringing to the market.

Reason 2: Attractive Incentives from Home Builders

Another big reason to consider a newly built home is the range of incentives that many home builders are offering. Again, since builders are aiming...

A Newly Built Home May Actually Be More Budget-Friendly If you’re in the market to buy a home, there’s some exciting news for you.

Why a Foreclosure Wave Isn’t on the Horizon

Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets. And those high costs on everything from gas to groceries are fueling unnecessary concerns that more people are going to have trouble making their mortgage payments. But, does that mean there’s a big wave of foreclosures coming?

Here's a look at why the data and the experts say that’s not going to happen.

There Aren’t Many Homeowners Who Are Seriously Behind on Their Mortgages

One of the main reasons there were so many foreclosures during the last housing crash was because relaxed lending standards made it easy for people to take out mortgages, even when they couldn’t show they’d be able to pay them back. At that time, lenders weren’t being as strict when looking at applicant credit scores, income levels, employment status, and debt-to-income ratio.

But since then, lending standards have gotten a...

Why a Foreclosure Wave Isn’t on the Horizon Even though data shows inflation is cooling, a lot of people are still feeling the pinch on their wallets.

How Affordability and Remote Work Are Changing Where People Live

There’s an interesting trend happening in the housing market. People are increasingly moving to more affordable areas, and remote or hybrid work is helping them do it.

Consider Moving to a More Affordable Area

Today’s high mortgage rates combined with continually rising home prices mean it’s tough for a lot of people to afford a home right now. That’s why many interested buyers are moving to places where homes are less expensive, and the cost of living is lower.

If you’re hoping to buy a home soon, it might make sense to broaden your search area to include places where homes that fit your needs are more affordable. That’s what a lot of other people are doing right now to find a home within their budget.

Remote Work Opens Up More Home Options

If you work remotely or drive into the office only a few times each week, you have many more possibilities when looking for your next home...

How Affordability and Remote Work Are Changing Where People Live There’s an interesting trend happening in the housing market.

The Biggest Mistakes Homebuyers Are Making Right Now

Want to know the biggest mistakes homebuyers are making today? They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro. Let’s connect to make sure you have a pro on your side who can help you avoid these mistakes.

The Biggest Mistakes Homebuyers Are Making Right Now Want to know the biggest mistakes homebuyers are making today?

Unlocking Homebuyer Opportunities in 2024

There’s no arguing this past year has been difficult for homebuyers. And if you’re someone who has started the process of searching for a home, maybe you put your search on hold because the challenges in today’s market felt like too much to tackle. You’re not alone in that. A Bright MLS study found some of the top reasons buyers paused their search in late 2023 and early 2024 were:

• They couldn’t find anything in their price range
• They didn’t have any successful offers or had difficulty competing
• They couldn’t find the right home

If any of these sound like why you stopped looking, here’s what you need to know. The housing market is in a transition in the second half of 2024. Here are four reasons why this may be your chance to jump back in.

1. The Supply of Homes for Sale Is Growing

2. There’s More New Home Construction

3. Less Buyer Competition

4. Home Prices Are Moderating

The Opportunity in...

Unlocking Homebuyer Opportunities in 2024 There’s no arguing this past year has been difficult for homebuyers.

Why Fixing Up Your House Can Help It Sell Faster

If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices. But they want a home that’s move-in ready.

It makes sense when you think about it. They’re having to pay a lot of money for a house in today’s market. That means they may not be able to easily afford upgrades after they move in. So, if your home is outdated or needs some work, buyers might pass it by or offer a lower price than you were hoping for.

If your house falls into this category, it's important to consider making selective updates to help it appeal to buyers, so it sells faster. But how do you know where to spend your time and money?

Why You Need a Real Estate Agent

By working with a local real estate agent to be strategic about the improvements you make, you can be sure you’re making a smart investment. Put simply, not all upgrades are worth the cost.

Your agent...

Why Fixing Up Your House Can Help It Sell Faster If you’re thinking about selling your house, you should know there are buyers who are ready and able to pay today’s high prices.

How To Determine if You’re Ready To Buy a Home

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind. Instead of trying to time the market, focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.

1. Do You Have a Stable Job?

One thing to consider is how stable you feel your employment is.

2. Have You Figured Out What You Can Afford?

If you have reliable paychecks coming in, the next thing to figure out is what you can afford.

3. Do You Have an Emergency Fund?

Another key factor is whether you’ll have enough cash leftover in case of an emergency.

4. How Long Do You Plan To Live There?

5. Above all else, the most important question to answer is: do you have a team of real estate professionals in place?

If not, finding a trusted local agent and a lender is a good first step. The pros can talk you through your options and help you...

How To Determine if You’re Ready To Buy a Home If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind.

Why Working with a Real Estate Professional Is Crucial Right Now

Navigating the housing market can be tricky, especially these days. That's why having an experienced guide when buying or selling a home is so important.
Here are just a few of the ways a real estate expert is invaluable:
Contracts – Agents help with the disclosures and contracts necessary in today’s heavily regulated environment.
Experience – In today’s market, experience is crucial. Real estate professionals know the entire sales process, including how it’s changing right now.
Negotiations – Your real estate advisor acts as a buffer in negotiations with all parties, and advocates for your best interests throughout the entire transaction.
Industry Expertise– Knowledge is power in today’s market, and your advisor will simply and effectively explain processes, market conditions, and key terms, translating what they mean for you along the way along the way¬.
Pricing – A real estate...

Why Working with a Real Estate Professional Is Crucial Right Now Navigating the housing market can be tricky, especially these days.

How Do Presidential Elections Impact the Housing Market?

Are you wondering if the upcoming election will have an impact on the housing market? Here’s what history tells us you need to know if you’re considering a move. Data shows home sales slow in November but quickly bounce back and rise the following year. Prices usually keep climbing. And mortgage rates typically come down slightly. Presidential elections have only a small and temporary impact on the housing market. If you have questions, let’s connect.

How Do Presidential Elections Impact the Housing Market? Are you wondering if the upcoming election will have an impact on the housing market?

Why Moving to a Smaller Home After Retirement Makes Life Easier

Retirement is a time for relaxation, adventure, and enjoying the things you love. As you imagine this exciting new chapter in your life, it's important to think about whether your current home still fits your needs.

If it's too big, too costly, or just not convenient anymore, downsizing might help you make the most of your retirement years. To find out if a smaller, more manageable home might be the perfect fit for your new lifestyle, ask yourself these questions:

• Do the original reasons I bought my current house still stand, or have my needs changed since then?
• Do I really need and want the space I have right now, or could somewhere smaller be a better fit?
• What are my housing expenses right now, and how much do I want to try to save by downsizing?

If you answered yes to any of these, consider the benefits that come with downsizing.

Your Equity Can Help Make Downsizing...

Why Moving to a Smaller Home After Retirement Makes Life Easier Retirement is a time for relaxation, adventure, and enjoying the things you love.

The Price of Perfection: Don’t Wait for the Perfect Home

In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn't wise. That’s because the pursuit of perfection comes at a cost. And in this case, that cost may be delaying your dream of homeownership.

The Cost of Holding Out for Perfection

Nothing in life is ever perfect – and that's true when you search for a home too. Unless you’re building a brand-new home from the ground up, chances are there are going to be some features or finishes you wouldn’t have picked yourself.

But here’s the trade-off you'd be making without even realizing it. In all that time you’d spend searching for the perfect place, you’d overlook a lot of homes that would’ve worked for you.

It’s Time To Redefine Perfection

Especially with affordability and inventory where they are today, buying a home that needs some updates, is a few neighborhoods...

The Price of Perfection: Don’t Wait for the Perfect Home In life, patience is a virtue – but in the world of homebuying, waiting too long in hopes of finding the perfect home actually isn't wise.

Why Your Asking Price Matters Even More Right Now

If you’re thinking about selling your house, here’s something you really need to know. Even though it’s still a seller’s market today, you can’t pick just any price for your listing.

While home prices are still appreciating in most areas, they’re climbing at a slower pace because higher mortgage rates are putting a squeeze on buyer demand. At the same time, the supply of homes for sale is growing. That means buyers have more options and your house may not stand out as much, if it’s not priced right.

Those two factors combined are why the asking price you set for your house is more important today than it has been in recent years.

And some sellers are finding that out the hard way. That’s leading to more price reductions. That’s because they haven’t adjusted their expectations to today’s market.

If you want to avoid making a pricing mistake that could turn away buyers and delay your sale, you need...

Why Your Asking Price Matters Even More Right Now If you’re thinking about selling your house, here’s something you really need to know.

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008

Even if you didn't own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then.

Homeowners Deciding To Sell Their Houses

Although the supply of existing (previously owned) homes is up compared to this time last year, it’s still low overall. And while this varies by local market, nationally, the current months’ supply is well below the norm, and even further below what we saw during the crash.

New Home Construction

People are also talking a lot about what's going on with newly built houses these days, and that might make you wonder if homebuilders are overdoing it. Even though new homes make up a larger percentage of the total inventory than the norm, there’s no need...

Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008 Even if you didn't own a home at the time, you probably remember the housing crisis in 2008.