Each month, we publish a series of articles of interest to homeowners -- money-saving tips, household safety checklists, home improvement advice, real estate insider secrets, etc. Whether you currently are in the market for a new home, or not, we hope that this information is of value to you. Please feel free to pass these articles on to your family and friends.
How To Find a Neighborhood You'll Love And Can Afford - Finding the right home means more than the right layout or finishes, it means finding a neighborhood that fits your lifestyle, needs, and budget.
The Ultimate Homebuyers Checklist - Buying a home involves many moving parts, and missing even one can cost time, money, or the deal itself.
How To Choose The Agent Who Will Actually Sell Your Home - Not all real estate agents are created equal. Choosing the right one can mean the difference between a fast, profitable sale-and a stressful, drawn-out experience.
Summary
Finding the right home means more than the right layout or finishes, it means finding a neighborhood that fits your lifestyle, needs, and budget. This report guides buyers through the process of evaluating areas, comparing priorities, and balancing dreams with dollars. Learn how to research like a pro and avoid common location regrets.
You've probably heard the phrase "location, location, location" and for good reason. The neighborhood you choose shapes your lifestyle, commute, sense of safety, and future property value. So how do you find the perfect fit, especially when affordability is a factor?
Here's how to narrow it down and make a smart move.
1. Start with Your Lifestyle PrioritiesAsk yourself:
Do I want a quiet suburb or urban energy?
Is walkability important?
How long of a commute is acceptable?
Do I want parks, trails, or dog-friendly areas?
What matters most: restaurants, schools, transit, or views?
Listing your non-negotiables will guide your search.
2. Know Your Budget (and Be Honest About It)Work with a lender to get pre-approved and understand your true price range. Remember to include:
Property taxes
HOA fees (if applicable)
Insurance premiums (especially in flood or high-risk areas)
Commuting or transit costs
Use this number to rule out areas before falling in love with homes that aren't feasible.
3. Define Your "Goldilocks Zone"Find the overlap between affordability, commute, and lifestyle. Use online maps and radius search tools to draw zones where you can realistically live, and live well.
4. Research Like a LocalUse tools like:
Google Street View and satellite maps
Walk Score and crime maps
Local Facebook groups and Reddit threads
Municipal websites for zoning, development, and community programs
Drive through neighborhoods at different times of day to get a feel for noise, traffic, and activity levels.
5. Consider Future GrowthLook for signs of an up-and-coming area:
New businesses or transit lines
City investment in infrastructure
Young families or creatives moving in
These areas can offer long-term upside, but may require patience or tolerance for change.
6. Think About ResaleEven if it's your "forever home," plans change. Choose a neighborhood that will appeal to future buyers too. Areas near good schools, transit, and employment centers tend to hold value.
7. Work With a Local AgentA good real estate agent can suggest hidden gem neighborhoods, point out value opportunities, and guide you toward areas that match your personality and goals.
8. Watch for Red FlagsHigh vacancy or foreclosure rates
Excessive graffiti or neglected properties
Loud noise zones (highways, airports, train tracks)
Lack of local services or grocery access
Sometimes the perfect area is just out of reach financially. Consider:
Compromising on home size, not location
Buying a fixer in a better area
Expanding your search radius slightly
The right neighborhood makes daily life better and is worth some creative thinking.
A great house in the wrong neighborhood won't feel like home. By aligning your lifestyle, commute, and budget with the right area, you'll set yourself up for long-term happiness and financial confidence. Don't just chase square footage, choose a location that truly fits.
Summary
Buying a home involves many moving parts, and missing even one can cost time, money, or the deal itself. This report delivers a comprehensive, easy-to-follow checklist covering everything from financial prep and viewings to closing day. Whether you're buying your first property or your fifth, you'll appreciate the structure and clarity this guide provides. Stay organized and informed through every step of the journey.
Buying a home is one of the most exciting and life-changing experiences you'll ever have, but the process can be complex. That's where a detailed homebuyer's checklist comes in. A checklist isn't just a convenience; it's a roadmap that keeps you organized, focused, and informed at every step of the journey. This guide outlines the full homebuying process with actionable steps and expert tips to help you navigate with confidence.
Before even browsing online listings, take a hard look at your financial picture. Check your credit score, calculate your debt-to-income ratio, and determine how much you can afford to borrow. Speak to a lender to get pre-approved, which will both set your budget and increase your credibility when submitting offers. Be sure to account for all upfront costs including your down payment, closing costs (typically 2â5% of the home's price), moving expenses, and an emergency fund.
Step 2: Define Your Needs vs. WantsMake a list of your must-haves and nice-to-haves. Must-haves might include the number of bedrooms, a specific school district, or a minimum square footage. Nice-to-haves could be a finished basement, large backyard, or walk-in closets. Prioritizing your list helps you stay focused when touring properties and makes trade-offs easier when inventory is limited.
Step 3: Research NeighborhoodsSpend time understanding local neighborhoods that align with your lifestyle and budget. Visit at different times of day, check crime rates, research school ratings, evaluate commute times, and look for future development plans that might affect the area. Understanding the neighborhood's trajectory helps you make an informed investment, not just a lifestyle choice.
Step 4: Choose the Right Real Estate AgentA good real estate agent is more than a door opener; they're your advocate, negotiator, and guide through the paperwork. Interview multiple agents and look for someone who specializes in your target market, has good reviews, and communicates well. Don't hesitate to ask for recent sales data or client references.
Step 5: Begin Your Home SearchOnce your finances and team are in place, start looking at listings. Your agent can create a customized search to match your criteria, but use online tools too for added context. Tour homes with a critical eye, look beyond staging and paint. Take notes, ask about roof age, HVAC systems, plumbing, and neighborhood features. Don't be afraid to revisit a property more than once.
Step 6: Evaluate Properties and CompareAfter seeing several homes, compare them based on your checklist. Use a scoring system for each must-have and nice-to-have, and review photos or notes from your visits. Be objective, don't let emotional attachment cloud your judgment. Narrow down your top choices and revisit anything that still excites you.
Step 7: Make an OfferWhen you're ready, work with your agent to craft a competitive but fair offer based on comparable sales. Decide in advance what contingencies (inspection, financing, appraisal) you'll include and what your walk-away price is. The stronger your offer package, including pre-approval and a personal letter, the more likely the seller will respond favorably.
Step 8: Complete the Home InspectionOnce your offer is accepted, schedule a professional home inspection. Use a licensed, well-reviewed inspector and plan to attend the inspection if possible. Ask questions and take note of any recommended repairs or red flags. This is your chance to renegotiate or walk away if major issues arise.
Step 9: Finalize the Mortgage and AppraisalYour lender will order an appraisal to confirm the home's value supports your loan. During this time, avoid opening new credit lines, changing jobs, or making large purchases, anything that could affect your loan approval. Stay responsive to your lender and provide requested documents quickly.
Step 10: Review Closing DocumentsBefore closing, you'll receive a Closing Disclosure outlining your loan terms, monthly payments, and closing costs. Review it carefully and ask questions. You'll also do a final walk-through to ensure the home's condition hasn't changed and that any agreed-upon repairs were completed.
Step 11: Closing DayOn closing day, bring your government ID, any remaining down payment funds (typically wired), and review all documents carefully. Once signed, you'll receive the keys to your new home! Celebrate, but also keep all documents in a safe place for future reference.
Bonus: After You Move InThe checklist doesn't stop after closing. Notify utility companies, update your address with important institutions, and rekey the locks. Meet your neighbors, review your maintenance schedule, and set aside savings for home improvements. A well-planned post-move checklist helps you settle in smoothly and start enjoying your investment.
The homebuying process is filled with steps, deadlines, and details, but having a master checklist turns chaos into clarity. Whether you're just getting started or already visiting homes, this step-by-step guide keeps you grounded, informed, and in control. With careful planning, the right team, and this comprehensive checklist, you'll move confidently from dream to reality.
Summary
Not all real estate agents are created equal. Choosing the right one can mean the difference between a fast, profitable sale-and a stressful, drawn-out experience. This guide helps sellers evaluate potential agents based on results, strategy, communication, and trust. Learn what to look for, what to avoid, and how to make an informed decision that puts your home in the best hands possible.
Selling a home is one of the most important financial decisions you'll ever make. And yet, many sellers choose an agent without doing any homework. They go with a friend of a friend, or someone who "seems nice." But your agent's expertise, marketing skills, and commitment can directly affect your bottom line-and your peace of mind. Here's how to choose wisely.
Why the Right Agent Matters
A great agent knows how to price your home right from the start.
They understand your local market-down to the neighborhood level.
They know how to stage and market your home for maximum impact.
They respond quickly to buyer inquiries and navigate negotiations smoothly.
They manage the process from listing to close-minimizing your stress.
What Sellers Are Typically Required to Disclose
Proven Track Record
Ask how many homes they've sold in the past 12 months-and what the average days on market and list-to-sale price ratio was. Look for someone with consistent performance, not just a license.
Local Market Expertise
An agent who knows your area can better position your home, answer buyer questions, and price your property accurately. Ask what other listings they've handled nearby.
Strong Marketing Plan
Your agent should provide a clear, customized marketing strategy. This may include professional photography, staging, online and offline advertising, social media promotion, and open houses.
Communication Style
You want someone who's proactive, responsive, and available. Ask how often they'll check in, what updates you'll receive, and how quickly they return calls and messages.
Support Team or Solo Agent
Agents with a team may offer additional support, while solo agents may provide more personal attention. Ask who will handle showings, paperwork, and buyer interactions.
Network and Negotiation Skills
Your agent should have relationships with local agents, lenders, and inspectors. More importantly, they must be skilled negotiators who can get you the best price while protecting your interests.
Tech-Savvy and Data-Driven
In today's market, your agent should be comfortable with digital marketing, social media, virtual tours, and data analytics. Ask what platforms and tools they use to market homes effectively.
Red Flags to Avoid
Agents who overpromise on price without comps to support it
Poor online presence or lack of professional photos in past listings
No clear marketing plan or listing timeline
Limited availability or poor communication
High pressure to sign right away
How to Interview an Agent
Don't be afraid to "interview" at least 2â3 agents. Ask:
What's your strategy to get my home sold quickly and for top dollar?
How many listings are you managing right now?
What happens if my home doesn't sell in 30/60/90 days?
Can I speak to some of your past clients?
Also, request a sample marketing plan and a listing presentation. You'll learn a lot from how they respond and how prepared they are.
Choosing the right agent isn't about personality-it's about performance. You need someone who treats your sale like a business transaction and brings the expertise to back it up. Do your research, ask tough questions, and choose someone who will go to bat for your success. The right agent will be your greatest ally in a competitive market.
Your House Didn’t Sell. Here’s What To Do Now.When your house doesn’t sell, it doesn’t just feel frustrating – it feels personal. You put time, money, and emotional energy into this move. You told your friends and family it was happening. And now that your listing has expired without a buyer? You’re left feeling stuck, and maybe even a little embarrassed. And here's what most agents won’t tell you. Over 70% of homeowners who re-list with a different agent sell their house. Re-list with the same agent? That stat drops to only 50%, according to the latest data from REDX. That’s like leaving the fate of your sale to a coin toss. And that’s not good enough. Same house. Different strategy. Completely different results. Let's break down what might’ve gone wrong – and how a fresh perspective can help you have a winning strategy this time. Today, homebuyers are feeling the squeeze of higher mortgage rates, so even a slightly overpriced home will get overlooked. And once your listing starts to go stale, it’s hard to regain momentum. Missing the mark on pricing is a costly mistake – and too many homeowners are doing that very thing right now. What we need to do now: We need to analyze the latest sales in your area to make sure you’re hitting the right number. This includes taking a hard look at real-time buyer behavior, and any feedback you got from open houses or showings your first time around. Pricing at, or even just below, current market value is a winning play because it drives more buyers to your listing – and that amps up the competition for your home. You only get one shot at a first impression. If the listing photos didn’t pop, the house wasn’t staged well, or it wasn't updated, most buyers will skip over it without ever scheduling a showing. And even if buyers did show up, small things like scuffed walls, outdated light fixtures, or a wobbly doorknob can turn them away. What we need to do now: Let’s walk through your house with fresh eyes to see if there are any areas that may have been sticking points inside and out. Sometimes taking down old drapery, some light staging, or even a fresh coat of paint can completely change how a buyer feels about the home. If your home didn’t sell, chances are it wasn’t getting the visibility it deserved. Generic flyers and a few online photos aren’t enough anymore. Today’s top agents are using highly targeted digital marketing, social media strategies, custom video content, and more to get your listing in front of the right buyers at the right time. What we need to do now: We have to do more than just put your house online and hope it sells. Together, we can come up with a real plan to maximize its exposure. With the right pricing, staging, and marketing, your house will sell quickly. Here’s a real-world example (see graph below): In this market, sellers who aren’t open to negotiating on things like closing costs, inspection repairs, or other concessions are often left behind. And if your last agent didn’t set that expectation with you, that's a real shame. What we need to do now: Be willing to meet buyers where they are. The goal is to get the deal done – and sometimes that means getting creative to help buyers cross the finish line. Home values have increased by over 55% over the last five years, so you likely have enough wiggle room to offer some perks without sacrificing your bottom line. If your house didn’t sell and your listing has expired, you don’t need to give up. You just need a better plan. And a better partner. Over 70% of homeowners who switch agents sell their house after re-listing it. That’s not a coincidence. That’s strategy. If you're ready for a proven approach, let’s talk so you know what to do differently – and why doing different things actually works. It’s time to get your move back on track.
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Newly Built Homes May Be Less Expensive Than You ThinkDo you think a brand-new home means a bigger price tag? Think again. Right now, something unique is happening in the housing market. According to the Census and the National Association of Realtors (NAR), the median price of newly built homes is actually lower than the median price for existing homes (ones that have already been lived in): 1. Builders Are Building Smaller Homes Builders know that buyers are struggling with affordability today. So, instead of building big houses that may not sell, they’re building smaller ones that will. According to the Census, the average size of a newly built single-family home has dropped considerably over the past few years (see graph below): 2. Builders Are Offering Price Cuts and Incentives In May, according to the National Association of Home Builders (NAHB), 34% of builders lowered their prices, with an average price drop of 5%. That’s because they want to be sure they’re selling the inventory they have before they build more. On top of that, 61% of builders also offered sales incentives – like helping with closing costs or buying down your mortgage rate. These are all ways builders are making their homes more affordable, so these homes sell in today’s market. If you're trying to buy a home right now, be sure to talk to your agent to find out what builders are doing in and around your area. They can find new home communities, as well as builders who are offering incentives or discounts, and hidden gems you might not uncover on your own. Plus, buying a newly built home often means there are different steps in the process than if you purchase a home that’s been lived in before. That’s why it’s so important to have your own agent who can explain the fine print. You want a pro in your corner to advocate for you, negotiate on your behalf, and make sure your best interests come first. You could get a home that’s brand new, with modern features, at a price that’s even lower than some older homes. Let’s talk about what you’re looking for and see if a newly built home is the right fit for you. If buying a home is on your to-do list, what would stop you from exploring newly built options?
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Many Veterans Don’t Know about This VA Home Loan BenefitFor 80 years, Veterans Affairs (VA) home loans have helped countless Veterans buy a home. But even though a lot of Veterans have access to this powerful program, the majority don't know about one of its core benefits. According to a report from Veterans United only 3 in 10 Veterans are aware they may be able to buy a home with no down payment with a VA loan (see visual below): That’s why it’s so important for Veterans, and anyone who cares about a Veteran, to be aware of this program. As Veterans United explains, VA home loans: These loans are designed to make buying a home more achievable for those who have served. And, by extension, they also give their families the opportunity to plant roots and build equity in a home of their own. Here are some of the biggest advantages for this type of loan according to the Department of Veterans Affairs: If you want to learn more, your best resource for all the options and advantages of VA loans is your team of expert real estate professionals, including a local agent and a trusted lender. VA home loans offer life-changing assistance, and a trusted lender and agent can help make sure you understand the details and are ready to move forward with a solid plan. Do you know if you’re eligible for a VA home loan? Talk to a trusted lender who can help you see if you’d qualify.
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More Homes for Sale Isn’t a Warning Sign – It's Your Buying OpportunityMaybe you’ve heard the number of homes for sale has reached a recent high. And it might make you question if this is the start of another housing market crash. But the reality is, the data proves that’s just not the case. In most areas, more inventory isn’t bad news. It’s actually a sign of the market returning to a more stable, healthy place. Based on the latest data from Realtor.com, inventory just hit its highest point since 2020, shown with the white line in the graph below. But what you need to realize is, at the same time, inventory levels still haven’t returned to pre-pandemic norms (shown in gray): And while it’s true inventory is up significantly compared to where it was over the last few years, the number of homes on the market is still well below typical levels. And that’s important context. Some people hear inventory’s rising and immediately think about 2008. Because back then, inventory spiked just before the market crashed. But today’s situation is very different. Here’s the key reason why. We don’t have a surplus of homes; we have a deficit to climb out of. What we’re dealing with is a long-term housing shortage – and it’s a big one. The red bars in the graph below show all the years where housing starts (new builds) didn’t keep up with household formation, going all the way back to 2012. The deeper the bars in the graph, the more the housing deficit grew (see graph below): That means, in most areas, there isn’t a risk of having too many houses on the market right now. It’s quite the opposite – a vast majority of markets actually need more homes. Which is why, even though inventory is rising, it’s not a problem on a national scale. It’s just helping to fill a gap that’s been growing for years. Don’t let the headlines scare you. Rising inventory isn’t a sign of a crash. It’s a step toward a more normal, stable housing market.
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Why Buyers Are More Likely To Get Concessions Right NowEspecially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-downs, and more. In the industry, it’s called a concession or an incentive. When a seller or builder gives you something extra to help with your purchase, that’s called either a concession or an incentive. Today, some of the most common ones are: For buyers, getting any of these things thrown in can be a big deal – especially if you’re working with a tight budget. As the National Association of Realtors (NAR) says: It’s not just one builder willing to toss in a few extras. A lot of builders are using this tactic lately. As Zonda says: That’s because they don’t want to sit on inventory for too long. They want it to sell. And according to the National Association of Home Builders (NAHB), one of the strategies many builders are using to keep that inventory moving (and not just sitting) is a price adjustment (see graph below): This isn’t a sign of trouble in the market, it’s an opportunity for you. The fact that the majority of builders offer incentives and roughly 3 in 10 are lowering prices means if you're looking at a newly built home, your builder will probably try to make it easier for you to close the deal. More existing homes (one that someone has lived in before) have been hitting the market, too – which means sellers are facing more competition. That’s why over 44% of sellers of existing homes gave concessions to buyers in March (see graph below): But remember, concessions don’t always mean a big discount. While more sellers are compromising on price, that’s not always the lever they pull. Sometimes it’s as simple as the seller paying for repairs, leaving appliances behind for you, or helping with your closing costs. And considering that home values have risen by more than 57% over the course of the past 5 years, small concessions are a great way for sellers to make a house more attractive to buyers while still making a profit. Whether you’re looking at a newly built home or something a little older, there’s a good chance you can benefit from concessions or incentives. If a seller or builder offered you something extra, what would make the biggest difference to help you move forward? Let’s talk about it and see if it’s realistic based on inventory and competition in our local market.
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Homes Are Still Selling Faster Than Pre-PandemicAs you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says: That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly. The first thing you should know is that, in most markets, things have slowed down a little bit. While you may remember how quickly homes sold a few years ago, that’s not what you should expect today. Now that inventory has grown, according to Realtor.com, homes are taking a bit longer to sell in today’s market (see graph below): By this comparison, if your house does take a little more time to sell this year, it’s not really a concern. It’s actually still faster than the norm. Plus, it gives you a bit more time to find your next home, which is welcome relief when you’re trying to move, too. Just remember, some homes sell in less time than this. Some take even longer. So, what’s the real difference? Why do some homes attract eager buyers almost instantly, while others sit and struggle? It comes down to having the right agent and strategy. Here are a few tips you need to know. One of the biggest reasons homes sit on the market is overpricing. Many sellers want to shoot for a higher price, thinking they can lower it later – but that backfires by turning buyers away. What to do: Work with an agent to make sure your house is priced right. They’ll analyze recent comparable sales (what other homes have sold for recently in your area), so you know you're pricing appropriately for today’s market and what buyers are willing to pay. As Chen Zhao, Economic Research Lead at Redfin, explains: A messy yard or a house that needs paint? It’ll turn buyers off. Since buyers decide within seconds whether they like a home, a good first impression is key. What to do: Outside, clean up your front yard, tidy up your landscaping, power wash walkways, and add fresh mulch. Inside, declutter and depersonalize. And consider minor touch-ups like repainting in a neutral tone. Your agent will offer advice on what to tackle. If your listing or your photos don’t look professional, you could have trouble drawing in buyers who think you’re trying to cut corners. What to do: Instead, lean on your agent’s skills, expertise, and resources. They’ll help you make sure you have: You may have heard the phrase “location, location, location” when it comes to real estate. And there’s definitely some truth to that. Homes in highly sought-after neighborhoods tend to sell faster. What to do: While you can’t change where your house is located, your agent can highlight the best features of your neighborhood or community in your listing. By showcasing what’s great about your area, they can help draw buyers into what life would look like in your house. Homes that sell quickly don’t necessarily have better features – they have better agents and a better strategy.
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A Tale of Two Housing MarketsFor a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room. In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move. In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate. On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home. For years, almost every market in the country was a strong seller’s market. That made it tough for buyers – especially first-timers. But now, things are shifting. According to Zillow, the national housing market is balancing out (see graph below): The orange bars in the middle of the graph show the years when sellers had their strongest advantage, from 2020 to early 2022. But, as time has gone on, the market has become more balanced. It shifted from a strong seller’s market to a less intense one. And lately, it's been neutral more than anything else (that’s the gray bars on the right side of the graph). That means buyers are gaining some negotiating power again. In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago. Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth. As data from Realtor.com shows, the supply of available homes for sale isn’t growing at the same rate everywhere (see graph below): The South and West regions of the U.S. have seen big jumps in housing inventory in the past year (that’s the blue on the right). Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there. But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic (that’s why those red bars are so big). That means those areas are more likely to stay seller’s markets for now. Every local market is different. Even if the national headlines say one thing, your town (or even your neighborhood) could be telling a totally different story. Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now. As Zillow says: Agents understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With their expert strategies, you can move no matter which way the market is leaning, because they know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price a house right, how to negotiate based on who has more leverage, and more. If you're ready to make a move, or even just thinking about it, let’s connect. That way, you’ll have someone to help you understand our local market and create a game plan that works for you. What’s one thing you’re curious about when it comes to the market in our area?
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What’s Your House Worth Now? The Answer May Surprise YouLet’s talk about something you might not check nearly as often as your bank account – and that’s how much your home is worth. But when it comes to your financial situation, it’s an important thing to remember. When’s the last time you had a professional show you the value of your home? Think about it. For most people, your house is probably the biggest asset you have. And if you’ve owned your home for a few years (or longer), chances are it’s been quietly building wealth for you in the background. And honestly? You might be surprised by just how much. This wealth you may not even realize you have comes in the form of home equity. Home equity is the difference between what your house is worth and what you still owe on your mortgage. It grows over time as home values rise and as you pay down your mortgage each month. Here’s an example to help you really understand how this works. Let’s say your house is now worth $500,000, and you have $200,000 left to pay off on your loan. That means you have $300,000 in equity. And most homeowners are sitting on some pretty significant equity right now. According to Cotality (formerly CoreLogic), the average homeowner with a mortgage has about $311,000 in equity. Here are the two main reasons homeowners like you have record amounts of equity right now: 1. Significant Home Price Growth. According to the Federal Housing Finance Agency (FHFA), home prices have jumped by more than 57% nationwide over the last five years (see map below): 2. People Are Living in Their Homes Longer. Data from the National Association of Realtors (NAR), shows the average homeowner stays in their home for about 10 years now (see graph below): So, if you’re one of those people who’s been in their home for that long, here’s how much the behind-the-scenes price growth has helped you out. According to NAR: Remember, your house might be your biggest financial asset – and, if you’re smart about how you leverage your equity, it could open up some exciting opportunities for your future. Chances are, your house is worth a lot more than you realize. Whether you’re thinking about selling, upgrading, or simply want to understand your options, your equity isn’t just a number. It’s a tool. If you sold your house and had significant equity to work with, what would you do with it? Let’s figure out how to turn your home’s value into your next big move.
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The Spring Guides for Buying or Selling a Home Are HereThe Spring Guides for buying or selling a home are here. Let’s connect so you can get the latest digital copies of these guides.
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