Blog

Make your home offer the most appealing
Post Date: 05-17-2023
Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot. The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago. ...CONTINUE READING

Protect yourself with a new construction inspection
Post Date: 05-10-2023
Builders of new homes offer or are required to warrant their work for a specified period. Municipal inspections are generally required during different stages to "ensure the life, health, safety, and welfare of the public" but even if something is missed, the ultimate responsibility for building to code belongs to the builder, even if the municipal inspector misses something. ...CONTINUE READING

Shopping Mortgage Rates
Post Date: 04-26-2023
Nobel Prize recipient, Richard Thaler, in his research into seemingly irrational economic behaviors, "found that consumers generally search too little, get confused while evaluating complex alternatives, and are slow to switch from past choices, even if it costs them." "Why are consumers leaving money on the table?" ...CONTINUE READING

Who Benefits from Selling a Home "As Is"?
Post Date: 04-19-2023
A person's decision to sell their home comes with a lot of other decisions causing an owner to stress or procrastinate. Early in the process, the owner will consider selling the home "As Is" to avoid the looming issues that accompany selling a home. ...CONTINUE READING

A Lesson on Housing from the 80's
Post Date: 04-12-2023
Doing nothing may be a lot more costly than doing something. With rates twice what they were in 2021 and the first half of 2022, many buyers are sitting on the sideline. For some, it has to do with not being able to afford the home they want at today's mortgage rates and for others, it is not willing to accept that the low rates that were available are not only gone, but may never be available again. ...CONTINUE READING

Tell Me More About Closing Costs
Post Date: 04-05-2023
There are fees and expenses associated with mortgages that must be paid by the closing date for closing costs, and pre-paid items, in addition to the down payment. These amounts can vary according to the type of loan, mortgage company, customary practices of the area, and the terms of the contact. ...CONTINUE READING

A New Perspective on the Housing Market
Post Date: 03-29-2023
The housing market in 2021 and part of 2022 was anything but normal. Mortgage rates were at all time lows and may never reach those levels again. Double-digit appreciation drove prices to new heights. Low inventories fueled by high buyer demand made multiple offers a normal expectation. ...CONTINUE READING

Rethinking Backup Offers
Post Date: 03-17-2023
Like with any professional, there are tools and techniques available to help with particular situations. They might be more popular at certain times and might even be put aside or forgotten at others. For real estate professionals, one of those is the backup offer. ...CONTINUE READING

Playing Monopoly Is Good Homework
Post Date: 03-08-2023
If you've ever been in a Monopoly game after most of the properties have been purchased and developed, it can be a relief to land on Free Parking, knowing the dice must rotate to the next player giving you a respite from paying rent. Like the game, in real life, it would be nice to avoid paying rent and even better to have people paying you rent for property you own. ...CONTINUE READING

Getting Comfortable with the New Normal Mortgage Rates
Post Date: 03-03-2023
The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. ...CONTINUE READING