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The Latest on the Luxury Home Market Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.

The Latest on the Luxury Home Market

Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle. And if you're in the market for a million-dollar home, now is an excellent time to explore the thriving luxury market. Here's why.

The Number of Luxury Homes Is Growing

The top of the market, or luxury homes, can mean different things depending on where you live. But in general, these are homes that are in the top 5% price range in any area. According to a recent report from Redfin, the average value of those homes has risen to over one million dollars: “The median sale price for U.S. luxury homes, defined as the top 5% of listings, rose 9% year-over-year to a record $1.18 million during the second quarter.”

That same report goes on to show the percentage of homes valued at a million dollars or more has risen to an all-time high.

Your Luxury Home Is an...

The Latest on the Luxury Home Market Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.

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).

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).

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?

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.

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.

simplifyingthemarket.com

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.

simplifyingthemarket.com

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.

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.

2025 Housing Market Forecasts: What To Expect Looking ahead to 2025, it's important to know what experts are projecting for the housing market.

2025 Housing Market Forecasts: What To Expect

Looking ahead to 2025, it's important to know what experts are projecting for the housing market.

Mortgage Rates Are Projected To Come Down Slightly

Mortgage rates play a significant role in the housing market. The forecasts for 2025 from Fannie Mae, the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and Wells Fargo show an expected gradual decline in mortgage rates over the course of the next year.

And many experts believe these signs will encourage the Federal Reserve to lower the Federal Funds Rate, which tends to lead to lower mortgage rates.

Expect More Homes To Sell

The market will see an increase in both the supply of available homes on the market, as well as a rise in demand, as more buyers and sellers who have been sitting on the sidelines because of higher rates choose to make a move. That’s one big reason why experts are...

2025 Housing Market Forecasts: What To Expect Looking ahead to 2025, it's important to know what experts are projecting for the housing market.

What's the Impact of Presidential Elections on the Housing Market? It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead.

What's the Impact of Presidential Elections on the Housing Market?

If you’ve been considering buying or selling a home this year, you’re probably curious about what the election might mean for the housing market – and if it’s still a good time to make your move.

Home Sales

In the month leading up to a Presidential election, from October to November, there’s typically a slight slowdown in home sales.

Some consumers will simply wait it out before they make their purchase decision. However, it’s important to know this slowdown is small and temporary.
Historically, home sales bounce right back and continue to rise the following year.

Home Prices

You may also be wondering about home prices. Do prices come down during election years? Not typically.

Home prices generally rise over time, regardless of an election cycle. So, based on what history shows, you can expect the current pricing trend in your local market to likely...

What's the Impact of Presidential Elections on the Housing Market? It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead.

What Mortgage Rate Are You Waiting For? You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years.

What Mortgage Rate Are You Waiting For?

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down.

Expert Projections for Mortgage Rates

Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there.

What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a full percentage point from the recent peak compared to May.

Know Your Number for Mortgage Rates

So, what does this mean for you and your plans to move? If you’ve been holding out and waiting for rates to come down, know that it’s already happening. You just have to decide, based on the expert...

What Mortgage Rate Are You Waiting For? You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years.

How Growing Inventory Benefits Today's Buyers While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.

How Growing Inventory Benefits Today's Buyers

While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal. Here’s what that means when you buy: more options for your search, more negotiation power for you, it’s more likely sellers will make select repairs, and more moderate price growth. If you want to talk more about what rising inventory means for you, let’s connect.

How Growing Inventory Benefits Today's Buyers While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.

Today’s Biggest Housing Market Myths Have you ever heard the phrase: don’t believe everything you hear?

Today’s Biggest Housing Market Myths

Have you ever heard the phrase: don’t believe everything you hear? There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important.

1. I’ll Get a Better Deal Once Prices Crash

If you’ve heard home prices are going to come crashing down, it’s time to look at what’s actually happening. While prices vary by local market, there’s a lot of data out there from numerous sources that shows a crash is not going to happen. So, if you think waiting will score you a deal, know that data shows there’s not a crash on the horizon, and waiting isn’t going to pay off the way you’d hoped.

2. I Won’t Be Able To Find Anything To Buy

If this nagging fear about finding the right home if you move is still holding you back, you probably haven’t talked with an expert real estate agent lately. Throughout the year, the...

Today’s Biggest Housing Market Myths Have you ever heard the phrase: don’t believe everything you hear?

The Number One Mistake Sellers Are Making: Overpricing Their House In today's housing market, many sellers are making a critical mistake: overpricing their houses.

The Number One Mistake Sellers Are Making: Overpricing Their House

In today's housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest.

If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here’s a look at what’s at stake if you don’t.

Not Paying Attention To Current Market Conditions

Understanding current market conditions is key to accurate pricing.

Real estate agents stay updated on market trends and how they impact the pricing strategy for your house.

Pricing It Based on What You Want To Make (Not What It’s Worth)

Another misstep is pricing...

The Number One Mistake Sellers Are Making: Overpricing Their House In today's housing market, many sellers are making a critical mistake: overpricing their houses.

How To Choose a Great Local Real Estate Agent Selecting the right real estate agent can make a world of difference when buying or selling a home.

How To Choose a Great Local Real Estate Agent

Selecting the right real estate agent can make a world of difference when buying or selling a home. But how do you find the best one? Here are some tips to help you make that big decision as you determine your partner in the process.

Check Their Reputation

Start by gathering information about agents in your area. From there, try to narrow down the list. Ask the people you trust if they have someone they’d recommend. You’ll want to find an agent with a strong online presence, plenty of positive reviews, and someone whose great reputation truly precedes them.

Look for Local Market Expertise

A great agent should have in-depth knowledge of what’s happening at the national and local level. That way they can clear up any misconceptions sparked by what you’re reading or hearing in the news.

Get a Feel for Their Communication Style and Availability

Effective communication...

How To Choose a Great Local Real Estate Agent Selecting the right real estate agent can make a world of difference when buying or selling a home.

How Mortgage Rate Changes Impact Your Homebuying Power If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind.

How Mortgage Rate Changes Impact Your Homebuying Power

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know.

What’s Happening with Mortgage Rates?

Mortgage rates have been trending down recently. While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors.

Things like the economy, job market, inflation, and decisions made by the Federal Reserve all play a part. So, even as rates go down, they can still bounce around a bit based on new economic data. As Odeta Kushi, Deputy Chief Economist at First American, says: “The ongoing deceleration in inflation, coupled with the Federal Reserve’s...

How Mortgage Rate Changes Impact Your Homebuying Power If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind.

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.

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.