Wednesday, August 10, 2022 / by Brian Armstrong
Should You Wait Until 2023 to Sell Your Home?
Considering selling your home, but not sure if now is the right time? The real estate market is still complicated, so we understand why you are questioning the timing of your sale! Your home is a valuable asset, and you don't just want to sell; you want to maximize the value of your sale. So, let's look at where things stand as we approach the end of 2022!
Consumer Confidence
Consumer confidence measures how people in the US feel about the current market. Right now, buyer and seller confidence in the nation has been falling as inflation and mortgage rates rise, as told in a recent report by Fanny Mae. Housing confidence has not been this low since 2011, indicating significant economic challenges in today's real estate market. "Surveyed consumers continue to express pessimism about home buying conditions, with only 17% of respondents reporting it's a good time to buy a home," according to Fannie Mae's report. "Meanwhile, the percentage ; ...
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real estate, strong will real estate, vermont, chittenden county, keller williams, northwest vermont, burlington, home tips, home selling process, interest rates
Thursday, August 4, 2022 / by Brian Armstrong
If you have been looking for a home, considering buying property, or just watching the news over the past two years, you have probably heard about the wild and wacky real estate market. Home prices skyrocketed, homes sold moments after listing, and bidding wars dominated the market nationwide. Where does that leave us today? Is now a good time to buy? Please note we are not financial experts, so please consult with a financial institute before making a home purchase. However, we want to help you understand what is happening in the Vermont real estate market so you can make educated decisions!
The Economic Slowdown
As you may well know, the US economy has experienced significant volatility in 2022. This volatility penetrated the Real estate market as indicators showed recessionary activity. Inflation rose quickly to over 9%, thus driving the Federal Reserve to increase the rates for borrowing. These actions caused consumers to borrow less money and ultimately spend less over. ...
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real estate, strong will real estate, vermont, chittenden county, keller williams, northwest vermont, burlington, buyers process, homebuying, first time buyer, home tips, interest rates, lending, investment properties
Thursday, July 28, 2022 / by Brian Armstrong
Buying a home is typically one of the most valuable asset purchases we make in the US. Budgeting for a new home can be challenging but learning how to manage your spending habits will help pave the path towards homeownership! As you get started, it is important to think about your goals and the personal habits you want to keep. Budgeting for a home is often a balance of tradeoffs, and only you can determine your ideal situation. In this article, we will dive into the best steps to take if you are looking to budget for a home purchase! Please keep in mind we are not financial advisors, and you should always speak to a lawyer or financial advisor prior to making a home purchase.
Build A Monthly Budget
One of the first steps of budgeting for a new home is building out a monthly budget. This will help you stay on track with your goals and allow you to see how all of your dollars add up each month. To get started, take a close look at your most recent financials to understand your; ...
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real estate, strong will real estate, vermont, chittenden county, keller williams, northwest vermont, burlington, buyers process, homebuying, first time buyer
Thursday, July 21, 2022 / by Brian Armstrong
Buying and owning a home has been a quintessential part of the American Dream for decades! The American Dream, which first came about during the Great Recession, idolized that anyone in the U.S with a hard work ethic should be able to achieve success through employment, homeownership, family, etc. However, the U.S. economy continues to evolve, paving a new path for the 21st Century American Dream. Take a journey with us as we travel back 50 years to see what buying a home looked like compared to today!
Buying a Home in the 1970s
In the 1970s, Vermont was a rapidly growing state! Ben & Jerry's started its first ice cream shop, the counterculture was a growing phenomenon, and Vermont was a great place to own a home! So much so, that 69.1% of housing units in the '70s were Owner-Occupied dwellings! Sounds like a high percentage, right? 50 years ago, the median value of an owner-occupied single-family home was only $16,500! So, what about wages? ...
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real estate, strong will real estate, vermont, chittenden county, keller williams, northwest vermont, burlington, buyers process, homebuying, first time buyer, interest rates, lending
Thursday, May 26, 2022 / by Brian Armstrong
If you have been watching the news over the past several weeks, you have likely seen analysts discussing inflation and interest rates. Both mechanisms have a strong pull on the U.S. economy, and if you are looking to buy or sell real estate, understanding what the numbers are indicating is key. Read on as we dive into what is happening with our current economy and what impacts Vermonters (or future Vermonters) will face! Please keep in mind we are not financial advisors, and you should always speak to a finance professional before making any decisions to understand the appropriate solution(s) specific to you.
The Inflating Economy
Over the last year, we have seen a tremendous rise in inflation. Inflation, in simple terms, is a year-over-year calculation of everyday goods like food, gas, electricity, etc. In the past 12 months, we have seen a huge jump coming to a whopping 8.3% increase. With the cost of living rising across the U.S., homebuyers feel the effects in their pockets. ; ...
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real estate, strong will real estate, vermont, chittenden county, keller williams, northwest vermont, burlington, buyers process, home tips, homebuying, home selling process, interest rates, lending
