Author: thekelsiward

Have realistic expectations.

Whether it’s applying for a mortgage or submitting an offer, be realistic.

Take a second look.

It’s easy to get wrapped up in the dream of home ownership. Bring your realtor, friends, or parents, for a second showing to be sure of your decision.

Commit to the long run!

Gather resources to keep up with home maintenance and never ignore problems that pop up. Because this will likely be your home for years to come!

Need a few more tips on how to buy this year? Schedule your strategy call today.

Rents, homes prices, and mortgage rates all increased last year which created a lot of barriers for home buyers.

Rising rents have made it especially difficult for buyers to save for a down payment.

As exciting as home buying may seem, remember that a house has to be something you can comfortably afford.

You don’t want to end up in your dream house with a nightmare budget.

So what can you do in the meantime?

Share housing with roommates or opt to stay with your parents if your situation allows it.

Be persistent about saving money and protecting (or improving) your credit.

These might not be your ideal steps, but you can still take consistent action to make home buying more affordable when you’re ready. Schedule your strategy call today.

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Here’s the thing… mortgage rates rose dramatically in 2022.⁣
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That was due to the federal reserve trying to⁣
bring inflation down.⁣
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While there are some signs that inflation may be slowing… where the market goes from here really depends on the Fed’s ability to get inflation under control.⁣
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Good news is, if inflation continues to fall like we’ve seen lately, mortgage rates likely will too. (Anyone else see those rates dipping into the 5% range??)⁣
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It’s safe to say, we all want stability and predictability right now…⁣
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I’ll keep following the latest trends to keep you updated on what’s going on.⁣
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Remember if you have questions about buying or selling a home this year you can always reach out to me! Schedule your strategy call today.

Want to know what will happen to the housing market if we have another recession?

While nobody can tell you for certain when or even if a recession will take place, I can tell you history proves a recession doesn’t automatically equal a housing crisis.

When we look at the last six recessions in the U.S.  going all the way back to the 80s… home prices actually appreciated in four of those.

There were only two recessions where we saw home prices depreciate. It happened first in the early 90s when the impact was minimal.

Unfortunately, what everyone remembers is the housing crash from 2008 when homes lost nearly 20% of their value.

Since home values actually climbed in some of those recessions– history shows that a recession doesn’t always mean home prices will fall.

So if you’re looking to make a move let’s connect! Schedule your strategy call today.

Well… Demand, inventory, and sales volume are down.

Which probably makes you think we’re on the brink of some deep price declines, huh?

Prices are coming down.

But here’s the thing… in 2008, 30% of homes were upside down. At the end of 2022, that number was less than 2%. 

So you’re likely not going to see catastrophic price declines going on.

Instead, we’re actually moving towards healthier market correction.

Want to learn more about where your current home fits into all of this? Schedule your strategy call today.

There’s been a slight increase of homes on the market, but buyers who got a 3% mortgage when they bought their home likely don’t want to give that up. 

Which means a lot of people who considered selling their homes, are now hanging onto them as rentals instead.

They want to hold onto the mortgage (rate) and get somebody else to pay the rent.

That means there could be a lot of inventory locked for years to come.

So, did you miss out on timing the market? Don’t count yourself out of homeownership yet. The best time to buy is when you can personally afford to do so.

Need help navigating the process? Schedule your strategy call today.