Wednesday, January 11, 2023 / by Brian Armstrong
If you have been in the market to buy or sell a home in the last few months, your experience is drastically different from those who made a purchase just six months ago. For the past two years, uncertainty rattled the real estate industry and created a seller’s market. As we rounded into the new year, market shifts have drastically changed buyer capabilities, and we will discuss what that means for homeowners and how to overcome those challenges in 2023!
The Federal Reserve Hikes
Have you noticed that your shopping bills have been much higher over the last few months? Inflation has steadily risen, affecting the price of everything from milk and bread to assets like vehicles and homes. To combat this aggressive inflationary activity, the Federal Reserve, the central banking system of the United States, has risen national interest rates over the past year. Interest rates and inflation have an inverse relationship, so making an adjustment to the cost of borrowing influences the ov! ...
Tuesday, July 27, 2021 / by Christine Elwood
The real estate market across the country has seen tremendous movement throughout the pandemic making it difficult for buyers to find their next dream home. While it may be more challenging than a year or two ago, finding your next home is still possible! Below we break down the complexities of today's market and what you can do to prepare!
Understanding Goals & Market Conditions
People often ask us about the first step in the homebuying process. No matter what the market looks like, we recommend hiring a realtor you trust and working with them to understand your motivations and establish clear goals. Market conditions heavily impact the decision-making process, so having your goals clear will help you and your realtor navigate the market. As part of your discovery process, you may realize the current market is not for you, and that's okay! We want you to be comfortable and happy with your purchase, so we have outlined some of the market challenges you will need to consider.
Wednesday, July 14, 2021 / by Christine Elwood
Moving out of state is a major life change, and there are quite a few steps to consider making the most of this transition. Some people prefer to take a "wing it" approach and deal with the various issues as they arise. On the other hand, some people prefer to take a systematic approach to plan and outline how this transition will happen. If you prefer a more planned approach, check out the tips below to ease through this big move!
Tip 1: Learn About The New Area
One of the best ways to get ahead of the curve is to research the town or city you are planning to relocate to. If you can do so, travel to the new area before moving to become acclimated with your surroundings! Also, remember to check out the local dining options, entertainment venues, public transportation, etc. If you have little ones, you may also consider researching local school districts to provide them with a strong education!
Compare your area to a new area using this tool: Compare Areas
This tool can help you! ...
Friday, March 23, 2018 / by Cole Elwood
There are many economic variables to consider when selling your home when interest rates are rising. If that’s the only changing economic variable, you’re generally going to see a negative impact on both home sales and home prices. This means as interest rates rise, the buyer pool for your home is going to shrink.
In 2008, the Federal Reserve set rates at 0.25 percent because of the recession and the lack of buyer confidence or demand. Since then, buyer confidence and buyer demand have risen. In December 2015, rates climbed to 0.5 percent and continued to rise to where they are today at 1.5 percent. The Fed has noted rates will rise to 2 percent in 2018 and then 3 percent by 2020.
What Happens to the Ability to Sell Your Home With These Rises in Interest Rates?If interest rates rise 1 percent and all other economic factors remain the same, purchasing power for homebuyers will decrease by just over 11 percent; therefore, every quarter-percent (0.25 percent) rise of interes. ...
Tuesday, October 3, 2017 / by Christine Elwood
As summer ends, we should start thinking about the cooler weather and the fact that winter is just around the corner. Start making these appointments now as the expert’s schedules will be filling up fast!
Have your Furnace Cleaned and Inspected
Schedule an appointment with a heating and cooling professional to get your heating system checked and cleaned up for the upcoming heating season. An annual maintenance contract ensures you’re at the top of the list for checks and helps so you won’t forget to make your appointment. Change your furnace filters. This is a job you should do more often anyway, but if you haven’t, now’s the time.
Examine your Roof:
Your roof is often forgotten about because it is not at eye level to give you a subtle reminder every time you walk past it. Check for any curling or missing shingles. Check the flashing around your chimney and any openings in the roof, ! ...