Jim and Lori Hill Realtors - HillnHills brokered by Exp

More Than a House: The Emotional Benefits of Homeownership

With all the headlines and talk about housing affordability, it can be tempting to get lost in the financial side of buying a home. That’s only natural as you think about the dollars and cents of it all.

And while you ultimately need to be able to afford a home you buy, don’t lose sight of why homeownership was so important to you in the first place. That’s because buying a home is so much more than just a financial transaction. As the National Association of Realtors (NAR) says:

“The benefits of purchasing and owning your place of residence are both financial and emotional – pride in homeownership and the feeling of security are huge intangible benefits.”
Here’s a look at just a few of those more emotional or lifestyle perks, to help anchor you to why homeownership is one of your goals.

A Sense of Satisfaction
Owning a home is often associated with better mental health and well-being. That’s probably because buying a home is a big milestone. And the sense of satisfaction and pride that comes with achieving that goal just feels good. A recent article from the Mortgage Reports says:

“By and large, homeownership brings more satisfaction than renting. . . Surveys scored the overall happiness level of homeowners at 88% compared to 67% for renters.”
More Stability for Your Family
Another thing that may make homeowners feel more satisfied is that they’re finally able to put down roots. Think about it. If you’re used to moving each time your lease renews and your rent climbs, staying put for a while would be nice not just for you, but for any loved ones that live with you.

A home can provide more predictability and the chance to make long-term friends. That should reduce everyone’s stress too. As NAR explains:

“Families also benefit from homeownership, with studies proving that parents are able to spend less time in a stressed state, therefore spending more time with their children. The ability for parents to feel stable has a huge impact on children’s behavioral issues, educational success, and future economic success.”

A Stronger Feeling of Community
And if you’re also looking for a sense of belonging for yourself, homeownership can help with that too. As FinHabits says:

“Homeowners tend to be more involved in their local communities, leading to a stronger sense of belonging . . .”
It makes sense. Your home connects you to your neighborhood and, by extension, your broader community. That’s because owning a home gives you a stake in that community’s future. So, becoming more involved and wanting to do what you can to help improve the area while making long-term relationships with neighbors is only natural.

The Ability To Make the Space Your Own
And don’t forget, your home is a place that’s all yours. Unless you’ve got specific homeowner’s association requirements, you’re free to customize it however you see fit.

So, if renting has been cramping your style, it’s time to express yourself and jump on the latest trends (if you want to). Whether that’s small home improvements or full-on renovations, your house can be exactly what you want and need it to be. And as your tastes and lifestyle change, so can your home. Picture coming home each day to a place that feels like you. That’s a feeling like no other.

Bottom Line
If you want to enjoy a sense of accomplishment and pride in where you’re living, let’s have a conversation to go over what you need to do now to make this future happen for you.

Looking for a home? Need to find the value of your current home? Visit us at https://www.hillnhills.com/

Congratulations Lori Hill! You work hard for our people and it is good to see you recognized!

Today is the day! In just a few hours, join us for our highly anticipated follow-up discussion on Buyer Representation. Following the huge success of our session on March 18th, which attracted over 50,000 viewers, we are excited to offer another opportunity to gain valuable insights from eXp Realty's top leadership.

I’ve asked my original co-host Holly Mabery, our VP of Brokerage Operations to join me; she’s just returned from NAR midyear meetings last week, and Kendall Bonner, our VP of Industry Relations who has been studying the settlement and been at the forefront of discussions around the next chapter in our industry.

Please note, this session is open to ALL AGENTS across all brokerages in the industry!

​​Event Details:

Time: TODAY 12 PM PT / 3 PM ET

Join here: https://www.youtube.com/watch?v=qfokgU9fsCo

Tune in to be part of this transformative discussion that will help shape your approach and tactics in the competitive real estate market.

Get Your Free Home Analysis! https://search.hillnhills.com/seller

Find out your home value, home equity, refinance and mortgage reduction and much more!

Feel Confident When It’s Time to Sell
Your report comes with simple, easy to understand information about your home!

Take the guesswork out of selling your home
Calculate how much equity you have by using our equity calculator tool.

Access our database of buyers
We can provide you a list of active and hot buyers looking for homes in your area.

Get Insightful Market Trends About Your Area
Make well-timed decisions with all the high level market information we have about your area.

And just as important, we provide you with all of the little details
Such as, what’s the average price per square feet in your area? How many other active listings are there? We’ll tell you.

https://search.hillnhills.com/seller

With the wave of AI (artificial intelligence) coming onto the scene.... have to ask, can you tell the difference between a human and AI?

Play the game and see how you do. https://www.humanornot.ai/

Thanks Michelle Ylopo

Human or Not? // A Social Turing Game Play a chatroulette and try to figure out if you’re talking to a human or an AI bot. Think you can tell the difference?

Big news from eXp...
(Everyone else please ignore) 😅

As an eXp agent, I've been itching for some excitement, and guess what? It's finally here!

Get ready for the New Revenue share model hitting the scene in just one week. If you've ever thought about jumping ship, now's the time to pay attention. Seriously... This is it.

With the first three levels needing NO FLQA, building serious wealth is within reach. And to unlock all but the last level? Just 15 FLQA. That's mind-blowing! (I know this gibberish for most, but trust me it's big)

Thanks for the major upgrade, eXp.

P.S. Shoutout to our competitors in the revenue share game. Competition is sometimes THE BEST THING, and this killer plan proves it!"

If you don’t ask, you don’t get it. 😉

What You Should Know Before Renting A Storage Unit

Renting a storage unit is a convenient option for people who need extra space for their extra possessions, for a variety of reasons. Maybe you want to store seasonal items, such as holiday decorations, costumes, gear, and lawn equipment. Maybe you haven't closed on your new home yet but need to move out of your old home, a rental storage unit can house your stuff till the move can be completed.

If you're a homeowner whose home will undergo major renovations, you can protect your belongings and provide clear space for the makeover by keeping your furniture and other items in a facility until the renovation is complete. For those who are downsizing but not ready to part with some of the stuff they’ve accumulated, renting a storage unit provides an excellent, space-saving solution.

Regardless of your reason or need, here are some things to consider before deciding to rent a self-storage unit:

What You Should Know Before Renting A Storage Unit — HillnHills Renting a storage unit is a convenient option for people who need extra space for their extra possessions, for a variety of reasons. Maybe you just want to store seasonal items, moving to a new home, downsizing, or undergoing renovations - regardless of your reason or need, here are some things to c

Should I Move with Today’s Mortgage Rates?

When mortgage rates spiked up over the last few years, some homeowners put their plans to move on pause. Maybe you did too because you didn’t want to sell and take on a higher mortgage rate for your next home. But is that still the right strategy for you?

In today’s market, data shows more homeowners are getting used to where rates are and thinking it may be time to move. As Mark Zandi, Chief Economist at Moody’s Analytics, explains:

“Listings are up a bit as life events and job changes are putting increasing pressure on locked-in homeowners to sell their homes. Homeowners may also be slowly coming to the realization that mortgage rates aren’t going back anywhere near the rate on their existing mortgage.”

A recent study from Bank of America sheds light on some of the things homeowners say would make them sell, even with rates where they are right now (see visual below):

What Would Motivate You To Move?

Now that you know why other people would move, take a minute to think about what would make a move worth it for you. Is it time to take a chance and go for your dream job, even though it’s not local? Are you looking for a neighborhood that has more to offer and a close-knit sense of community? Maybe you just need more space, you’re looking for your next great adventure, or you want a house that opens up rental opportunities to pad your income.

And here’s something else to consider. Mortgage rates are still expected to go down over the course of the year. And once that happens, there’s going to be a big rush of buyers jumping back into the market. While you could delay your plans until rates drop, you’ll only have more competition with those buyers if you do.

So, does that mean it’s worth it to move now, even with rates where they are? The answer is: that it depends.

You'll want to consider today’s mortgage rates, where they’re expected to go from here, and what would prompt you to want to make a change as you decide on your next steps. An expert can help with that.

Bottom Line

Other homeowners are getting used to rates and deciding to move. Let’s chat to go over what matters most to you and if it’s time for you to jump back into the market too.

Wake County Tax Administration is pleased to offer a new tool to help you search sales comparable to your home/property.

This new tool provides similar information that can be found in the Research Sales tool available on Wake County’s Tax Portal; however, the enhanced Comparable Sales Search tool allows users to map sales of homes within their own neighborhood. These sales have been reviewed by an appraiser and are considered to be indicative of market value as of January 1, 2024. These are the sales that were used to help determine values in each neighborhood in this most recent revaluation.

The tool includes the following information:

Distance from subject property
Properties sold between 1/1/2022–12/31/2023
Planning jurisdiction
Neighborhood
Heated area square footage
Year built
Effective year built
Story height
Building type and use
Acreage

The Comparable Sales Search tool also allows users to select the sales they deem most comparable to their own property and create a report showing how the properties are alike or different. These reports can be downloaded in PDF format and may be helpful if users desire to submit documentation with a request for informal review to the Tax Administration office or a formal appeal to the Board of Equalization and Review.

Please note that information regarding commercial property is not included in the Comparable Sales Search tool.

Comparable Sales Search Wake County Tax Administration is pleased to offer a new tool to help you search sales comparable to your home/property. The enhanced Comparable Sales Search tool allows users to map sales of homes within their own neighborhood.

Spring has finally arrived and so has our Real Estate Seller Guide!

There is information on if you should sell your home this spring, how home equity can be a game changer and checklists for selling your home!

You can get your copy here: https://drive.google.com/file/d/1m_Fceq1yOzsnygSO8pduTB2iqUpJWOwB/view?usp=sharing

We are happy to provide you with a complimentary consultation on selling your home and you can get a preliminary value of your home on our website here: https://www.hillnhills.com/home-valuation

Are you waiting to buy or sell your home? Time to change your perspective and act now!

In 1971, mortgage rates stood at 7.33%.

Waiting until 1993 for lower rates would have meant a 22-year wait, during which property values increased fourfold.

The lesson?

Delaying action in real estate can be expensive; it's crucial to act and let time do its work.

People often compare the present to their ideals without considering all possibilities.

Comparing median home prices to median incomes reveals some interesting insights:

1993:

Median home price: $126,500

Mortgage rate: 7.3%

Median mortgage payment: $1,000

Median household income: $31,000

Median monthly take-home pay: $1,937 (51% of median monthly take-home pay)

Today:

Median home price: $391,600

Mortgage rate: 6.9%

Median payment: $2,585

Median household income: $77,397

Monthly take-home pay: $4,837 (53% of median take-home pay)

These figures aren't significantly different.

However, if we compare these numbers to the early 80s, they are much worse than today.

Lets run the numbers on your home or ability to purchase a home. Reach out to us today. https://www.hillnhills.com/ 919.906.1636 [email protected]

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HillnHills HillnHills is your digital resource for buying and selling homes in the Raleigh, Durham, Wake Forest, NC area.

What’s the Latest with Mortgage Rates?

Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet.

There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer details. What you really want is the answer to this question: does that mean mortgage rates aren’t going to fall? Here’s what you need to know.

Mortgage Rates Are Still Expected To Drop This Year
While it hasn’t happened yet, that doesn’t mean it won’t. Even Jerome Powell, the Chairman of the Fed, says they still plan to make cuts this year, assuming inflation cools:

“We believe that our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”
When this happens, history shows mortgage rates will likely follow. That means hope isn’t lost. As a recent article from Business Insider explains:

“As inflation comes down and the Fed is able to start lowering rates, mortgage rates should go down, too. . .”

What This Means for You

But you don’t necessarily want to wait for it to happen. Mortgage rates are notoriously hard to forecast. There are so many factors at play and any one of those can change the projections as the economy shifts. And it’s why the experts offer this advice. As Mark Fleming, Chief Economist at First American, says:

“Well, mortgage rate projections are just that, projections, not promises and don't forget how hard it is to forecast them. . . So my advice is to never try to time the market . . . If one is financially prepared and buying a home aligns with your lifestyle goals, then it could be the right time to purchase. And there's always the refinance option if mortgage rates are lower in the future.”
Basically, if you’re looking to move and trying to time the market, don’t. If you’re ready, willing, and able to move, it may still be worth it to do it now, especially if you can find the home you’ve been searching for.

Bottom Line

If you’re looking to buy a home, let’s connect so you have someone keeping you up-to-date on mortgage rates and helping you make the best decision possible.

Call now to connect with business.

Should You Sell Your House This Year or Wait? Consider These Factors First

The decision on whether or not to sell your beloved home is already a difficult thing to process. But knowing and understanding when to sell — it's another critical point that can affect your decision and would-be profit, especially when the housing market feels unpredictable. Click on the blog below to find out more!

Should You Sell Your House This Year or Wait? Consider These Factors First — HillnHills The decision on whether or not to sell your beloved home is already a difficult thing to process. But knowing and understanding when to sell — it’s another critical point that can affect your decision and would-be profit, especially when the housing market feels unpredictable. Aside from the hou...

People ask... "Do you sell real estate?"

The answer is no. We don't sell anything. We help people. We listen and guide them to the home they love. It is a labor of love.

We change peoples lives one home at a time.

We are grateful that we are able to bring you our Spring Home Buyers Guide for 2024. This is hot off the press, so to speak (technically it is an electronic PDF...lol) and is chock full of information on what is happening in the housing market today, tips on mortgage rates and financing and much, much more!

You can get your copy by clicking on the link here: https://tinyurl.com/ycy7x9jk

You can also search homes at our website https://www.hillnhills.com/

If you need information about real estate market trends in the area, this is the place to look. You can find median price per square foot, total active listings and much, much more on our website.

All Communities — HillnHills This privacy policy also describes the choices available to you regarding our use of your personal information and how you can access and update this information.

Time to go Christmas home shopping!