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 that it can be hard to understand what experts are saying when the words they use sound similar. Let's break down the differences among those terms to help clarify what's actually happening today.
If you're thinking about selling your house, you may have heard about the housing market slowing down in recent months. While it's still a sellers' market, the peak frenzy the market saw over the past two years has cooled some. If you're asking yourself if you've missed your chance to sell your house and make a move, the good news is you haven't – motivated buyers are still out there. But you do need to price your house right for today's market. Here's why.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
Homes priced right are selling very quickly...
THE REAL ESTATE MARKET IS SHIFTING: DOES THIS BENEFIT BUYERS OR SELLERS?
In the short term, the answer is both! However, sellers who have been in the power seat for many years, will need to quickly adjust their expectations and settle on the new reality of a balance of power. As the market shifts and becomes less of a sellers market and moves towards a balanced market, buyers and sellers need to get up to speed and understand the new terms and rules.
A CASE FOR BUYERS
In my previous article: 3 SOLID REASONS TO BUY A HOME THIS SUMMER I highlighted the immediate opportunity for buyers during...
According to a recent survey from the Wall Street Journal, the percentage of economists who believe we'll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there'd be a recession by now. But this July, when polled, 49% believe we will see a recession in the coming 12 months.
And as more recession talk fills the air, one concern many people have is: should I delay my homeownership plans if there's a recession?
Here's a look at historical data to show what happened in real estate during previous recessions to help prove why you shouldn't be afraid...
If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.
But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.
There were many reasons for the limited number of homes on the market during the pandemic,...
Realtors are not sales people! There, I said it. Contrary to public opinion, reputation and all the negative attention that gets dumped on us we don't "sell" property. We manage and build relationships, guide clients through complicated and emotional transactions and creative problem solve. Realtors wear many hats but have one focus - our clients. What is best for them, how we can help them, how we can make their real estate dreams come true and hopefully with joy and the least amount of stress.
Some clients don't make it easy
My most recent closed transaction was one of the most difficult transactions of my career and nothing about preparing the home, managing my client, marketing the home, securing a buyer and then collectively managing the entire process until we closed escrow felt salesy for even one second. Realtors don't "sell" properties, we solve problems. We guide our clients...
If you’re not finding the “perfect” home as soon as you’d like, it’s easy to become frustrated and feel as though you are at the whim of the market. I’m here to tell you that staying patient is not your only option. What you can do to regain control over your home search is take a more strategic approach to the inventory you’re looking for. By categorizing your search into three specific fields, you can take more control over your search by understanding what is realistic and how that reality compares to your dream home. The truth is, fantasizing about your dream home tends to be a very romanticized process, as if we could simply manifest the home of our dreams and it will magically appear on the market within days…but it’s not always that easy. When it comes to finding that home, you may learn that...