Sell or Buy with Team Brittany Nigh

If you’re thinking about buying a home, there are 3 BIG reasons you may want to make your move this fall.

1) Inventory is growing, giving you more options (finally!).

2) Newly built homes may be more budget-friendly than you’d expect (we have an inside view on this).

3) Mortgage rates have come down from their peak last October (and they're expected to drop again!).

Want to talk about what this means for your move? Let's talk! We would love to help you find your dream home.

Thinking of buying a house? There's a lot of confusion about what your credit score needs to be. Here's some info that might help.

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.

Affordability has been a challenge for a while now.

There are three main factors that impact it: mortgage rates, home prices, and wages.

Here’s the good news. There are early signs that all three are starting to improve. Mortgage rates are coming down, home price growth is moderating, and wages are going up.

If you’re thinking about purchasing a home, it's a GREAT time! Give us a call and we can help you through the process.

Monday Market Update (on Tuesday).

Currently we have 162 active single family listings in Washington County. In the past week we've had 34 new listings hit the market, with 8 already receiving offers. As we've seen consistently for the past few months, homes under that $400,000 mark are spending less time on the market. However, we're seeing a bit of a shift in how quickly some of those homes go under contract. Not all of these homes are selling in the first 48 hours as they were a few months ago.

We expect fall will bring buyers out in full force with the anticipated drop in interest rates, so if you're thinking of buying, now is a GREAT time to talk to an experienced agent, like Brittany or Cara!

Are you part of the Sandwich Generation? According to Realtor.com, this term refers to Americans caring for both their children and their parents or grandparents simultaneously.

While juggling these responsibilities is challenging, it can also help you buy a home. Realtor.com found that a third of Sandwich Generation members said their situation made home buying easier.

Here’s how:
✨Sharing Expenses: Multi-generational households can pool resources, making it easier to afford a larger home.
✨Built-In Childcare: Grandparents can help with childcare, saving on daycare costs.

Beyond finances, buying a multi-generational home offers benefits like easier caregiving for aging parents and more family time.

If you’re considering a multi-generational home, a local real estate agent can help you find the right fit. Connect with us to learn more!

📉 **Mortgage Rates Update** 📉

🔹 **30-Year Fixed**: Average rate is now 6.87%, down from 7.19% last week. Monthly payment on a $100K loan is $657, totaling $136,422 in interest over the loan's life.

🔹 **15-Year Fixed**: Average rate is 6.04%, down from 6.44%. Monthly payment on a $100K loan is $846, totaling $52,235 in interest.

🔹 **Jumbo 30-Year Fixed**: Average rate is 6.97%, down 0.25 points. Monthly payment on a $750K loan is $4,974.

💡 **APR Explained**: The annual percentage rate includes both the interest rate and lender fees, giving a clearer picture of the total loan cost.

🔍 **Factors Influencing Rates**: Federal Reserve policies, bond market trends, economic health, and inflation.

📊 **Getting the Best Rate**: Maintain a good credit score, manage your debt-to-income ratio, aim for a lower loan-to-value ratio, and consider shorter loan terms.

🏠 **Best Mortgage Type**: Conventional loans for those with good credit and down payment, FHA loans for lower credit scores, USDA loans for rural areas, and VA loans for eligible military personnel.



://www.forbes.com/advisor/mortgages/mortgage-rates-08-06-24/

Mortgage Rates Today: August 6, 2024—Rates Move Down Today’s average mortgage rate on a 30-year fixed-rate mortgage is 6.87%, down 0.32 percentage point from the previous week. Borrowers may be able to save on interest costs by going with a 15-year fixed mortgage, which will often have a lower rate than a 30-year, fixed-rate home loan. The average

Trying to decide if you want to sell or rent out your house once you move?
There’s a lot to consider – especially when it comes to figuring out if the profit is really worth the potential pains you might come up against.
Pro tip: Talking to another landlord plus professionals (like us) can help you decide what’s best for you and your situation.

📊 **Monday Market Update for Washington County** 📊

Currently, there are 157 single-family homes on the market without offers. Out of these, 21 are new listings from the past week, with just one receiving an offer in its first week. We're starting to see homes staying on the market a bit longer, which is great news for buyers! 🏡🔑

Open House Sunday 11:30-1:30 Come see these Condos build by Stepping Stone Homes.

N162w21918 Poppy Rd, Jackson, WI, 53037 Welcome home to The Cypress model within The Villas at Mo...

Open House Sunday 11:30-1:30 Come see this in person.

N162w21938 Poppy Rd, Jackson, WI, 53037 Welcome home to The Pine model within The Villas at Morni...

Selling your home? Don’t fall for these common mistakes.

The housing market is in a transition right now. And homeowners who don’t work with a skilled agent are going to be more likely to miss the mark on things like pricing, selective repairs, and negotiation tactics.

With a trusted real estate advisor by your side, you won’t get tripped up with avoidable challenges along the way.

Are home prices going to come down?

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.

Monday Market Update for Washington County!!

Currently we have 158 single family homes listed on the MLS without offers. We're still seeing the strongest concentration of inventory in that $550,000 and up range, where we are also feeling a bit of a slow down. Homes in the lower price points are still moving quickly with what feels like an over abundance of buyers looking for homes under $400,000.

This past week brought 42 new listings to the market, 9 of them going under contract quickly as well. Feel free to reach out if you have questions!

What are you doing this weekend?
Two area events that looked interesting are Port Fish Days and Falls Lavander Fest.

This Weekend in Wisconsin: July 19-21 A selection of community happenings across Wisconsin can be found weekly here on our blog. We hope you find something fun to do this weekend in Wisconsin!   Central July 19, Food Truck: UWSP Stevie’s Food Truck in the Beer Garden, Stevens Point July 20, Concert in the Clouds – Featuring Sam and...

✨Real Estate Term Time✨
Buying or selling your first home or your last? There are a lot of terms to remember, and the housing market is always changing. Let us help you understand the process and walk you through every step. 🏡✨

🌟 Retirement is a time for relaxation, adventure, and enjoying the things you love! 🌟 As you step into this exciting new chapter, consider whether your current home still fits your needs. Is it too big, too costly, or just not convenient anymore? Downsizing might be the perfect solution to make the most of your retirement years.

Ask yourself:
🔹 Do the original reasons I bought my current house still stand?
🔹 Do I need and want the space I have now, or could somewhere smaller be better?
🔹 What are my current housing expenses, and how much could I save by downsizing?

If you answered yes to any of these, downsizing could be a great move for you!

**Benefits of Moving into a Smaller Home:**
- Use your equity to make downsizing possible.
- Reduce your monthly living expenses.

With homeowners age 62 and older holding over $12 trillion in home equity, downsizing makes sense. Use that equity to buy a home that fits your needs today. 🏡

When you're ready to use your equity to fuel your next move, I'm here to guide you through every step – from setting the right price for your current house to finding a home that suits your evolving needs.

**Bottom Line:**
Starting your retirement journey? Downsizing could really help. When you're ready, let's connect! 😊

Check out our newest listing in Jackson, The Villas at Morning Meadows. A great condo alternative to single family living at an affordable price!

https://brittanynigh.firstweberinc.com/details/?mlsid=1882693&mls=186&ppc=&addht=playbook-promote-listing-457&view_timing=2

Deciding if you’re ready to buy a home? Here are some key questions to ask:

1. **Do You Have a Stable Job?**
2. **Have You Figured Out What You Can Afford?**
3. **Do You Have an Emergency Fund?**
4. **How Long Do You Plan To Live There?**

Your personal situation matters just as much as the housing market. Focus on what you can control and consult with a trusted real estate agent and lender to guide you through the process.

**Bottom Line:**
Thinking about buying a home? Let's connect and discuss your readiness! 🏡

📊 **Washington County Market Update: Single Family Homes**

Last week, 38 homes hit the market, and 9 of them already have offers! 🏡 The market is moving fast—if you're thinking about buying or selling, now's the time to act. Contact us for more details!

Curious About Adjustable Rate Mortgages?

Do you know what an adjustable rate mortgage is or have questions about one? We can help you find a lender that fits your needs.

Let’s chat!

Worried About Rising Foreclosures?

Don’t be. The increase is only compared to the record lows of the past few years. We’re still below what we’d see in a normal year, and it’s nothing like what happened during the crash.

Have questions? Drop them below or reach out to us!

Patience is a Virtue, But Not in Homebuying

In life, patience is a virtue, but in homebuying, waiting for the perfect home can delay your dream of homeownership. As Bankrate explains, searching for perfection can narrow your choices and cause you to miss out on great starter homes.

The Cost of Holding Out for Perfection

Nothing is ever perfect, and that includes homes. Whether it’s paint colors, light fixtures, or location, there will always be something that doesn’t meet your ideal. Waiting for the perfect home means missing out on many that could work for you. As U.S. News puts it, having blinders on can make you miss great investments.

# # # Redefine Perfection

With today’s market conditions, buying a home that needs updates or is slightly out of your ideal location can be a smart move. These homes are often more affordable and offer a chance to personalize your space. You might even discover a new favorite neighborhood!

How an Agent Helps

If you’re open to homes needing some work or in different areas, let your agent know. They can:
1. Prioritize your must-haves vs. nice-to-haves.
2. Help you see potential in homes needing a little TLC.
3. Connect you with local pros for any updates post-move.

Bottom Line

There’s no perfect home, but with an expert agent and an open mind, you can find the right one. Let’s connect to see what’s out there!

🏡 **Washington County Housing Market Update** 🏡

There are currently 121 single-family homes on the market in Washington County without offers. In just the past week, 14 new listings hit the market, and six of those are priced under $350,000! If you're thinking about buying, now's a great time to explore these new opportunities. 🏠✨

Did you know?

Real estate has been voted the best long-term investment for 12 years straight.

That’s because history shows home values usually go up. And when that happens, it helps homeowners grow their net worth.

So, if you’re debating renting or buying, remember to factor this into your decision.

When you’re ready to start your homeownership journey, let's connect.

Happy 4th of July from our team to you!

West Bend friends! Looking for something to do this 4th of July? Come out to Regner Park and enjoy all the festivities!

Independence Day Festivities - Visit West Bend, Wisconsin Parade – 9:30-10:30 a.m. (Downtown) Kiwanis Duck Derby – 11 a.m. (Regner Park) Fireworks – 9 p.m. (Riverside Park)

What is Equity? Equity is the current value of your home minus what you owe on the loan. And thanks to the ongoing rise in home prices, the average homeowner's equity is STILL on the rise.

Check out the map above to see how much the typical homeowner gained in each state.

If you want to find out how much equity you have, reach out to us and let’s chat!

We're seeing a little uptick in inventory these past few weeks. Although it seems most of that uptick has been in homes over $350,000. Well priced homes under $400,000 are still selling quickly as there is more demand than supply. The market is appears more saturated with homes in the upper price points in Washington County however. Feel free to reach out if you have questions!