Buying Pre-Approval Is a Critical First Step on Your Homebuying Journey If you’re planning to buy a home this year, one of the first steps on your journey is getting pre-approved. Especially in today’s market when mortgage rates are higher than they were just a few months ago, getting a mortgage pre-approval can be a game changer. Here’s why. What Is Pre-Approval? To better understand why pre-approval is key, it’s important to know what […]
Buying What’s Ahead for Home Prices? As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? […]
Buying Fixed Housing Costs; The Best Hedge Against Inflation If you’re ready and able to do so, becoming a homeowner can provide lasting stability and a reliable shelter in times of economic uncertainty. While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire […]
Buying Housing Supply and Demand… The Latest Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. The graph below helps tell the story of just how different things are today. This year, buyer […]
Buying The Emotional and Non-financial Benefits of Homeownership With higher mortgage rates, you might be wondering if now’s the best time to buy a home. While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move. Here are just a few of the benefits that come with homeownership. Homeowners Can Make Their Home Truly Their […]
Selling Perspective Matters When Selling Your House Today Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways I can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. Fewer Homes for Sale than Pre-Pandemic While the supply of […]
Buying September Market Stats for Northern Michigan Every month, I publish the latest market data from the Northern Michigan MLS. Data for 17 areas in three counties is compiled, filtered and presented in easy to read infographics. Just select the “Market Data” tab above and choose the county you want to view. Interested in more than a one month snapshot? Scroll down each […]
Buying Saving for a Down Payment? Here’s What You Need To Know. As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start. If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why. The […]
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Buying The Journey To Buy a Home
Buying The Long-Term Benefit of Homeownership Today’s cooling housing market, the rise in mortgage rates, and mounting economic concerns have some people questioning: should I still buy a home this year? While it’s true this year has unique challenges for homebuyers, it’s important to factor the long-term benefits of homeownership into your decision. Consider this: if you know people who bought a home 5, […]
Buying Should I Buy OR Should I Rent? Either way, you’re going to be paying more. The difference is, with homeownership, you’re also gaining equity over time which will help grow your net worth. Mortgage rates have increased significantly in recent weeks. And that may mean you have questions about what this means for you if you’re planning to buy a home. Here’s some information that can […]
Buying Taking a Look at Inflation and Mortgage Rates If you’re following today’s housing market, you know two of the top issues consumers face are inflation and mortgage rates. Let’s take a look at each one. Inflation and the Housing Market This year, inflation reached a high not seen in forty years. For the average consumer, you probably felt the pinch at the gas pump and in the […]
Home Improvement Fall Home Selling Checklist Focus on tasks that can make it inviting, show it’s cared for, and boost your curb appeal.
Buying What’s Mortgage Pre-Approval? It’s a Critical First Step Some Highlights Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow. Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and helps sellers know your offer is serious. Connect with a trusted […]
Buying The Housing Shortage Explained If you’re curious about WHY we have a lack of inventory – this infographic will help! As you can see, a lack of homes built in the past decade and recent low interest rates have affected the current home supply, and created our current inventory crisis. You need an expert if you’re considering buying or […]
Buying Three Things Buyers Can Do in Today’s Housing Market It’s clear the 2022 housing market has been defined by rising mortgage rates. With rates on the rise, it’s also become more costly to purchase a home. According to the National Association of Realtors (NAR): “Compared to one year ago, the monthly mortgage payment rose to $1,944 from $1,265, an increase of 53.7%.” If you’re thinking of buying a […]
Buying Expert Forecasts on Mortgage Rates If you’ve been thinking of buying a home, you may have been watching what’s happened with mortgage rates over the past year. It’s true they’ve risen dramatically, but where will they go from here, especially as the market continues to slow? As you think about your homeownership goals and decide if now’s the time to make […]
Buying Should I Sell My House This Year? There’s no denying the housing market is undergoing a shift this season as buyer demand slows and the number of homes for sale grows. But that shift actually gives you some unique benefits when you sell. Here’s a look at the key opportunities you have if you list your house this fall. Opportunity #1: You Have More Options for […]
Selling It’s Still a Sellers’ Market Some Highlights While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low. The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price. You haven’t missed your opportunity to sell. Work with a […]
Selling What’s Actually Happening with Home Prices Today? One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture. Part of the challenge is […]