Buying

April 3, 2024

What Does Contingent Mean in Real Estate?

By Kristine Gill | Better Homes & Gardens Learn more about common contingencies in real estate and how they can affect the buying processes. Buying and selling a home often requires a dictionary as you navigate a new litany of terms, each describing a crucial step in the process. In real estate, a contingent offer has a meaning all its own—one that can make or break a deal. “It is a common misconception that once you are under contract, you are going to close with that buyer and seller—no matter what,” says Abbey Wostal, a broker and owner at Better Homes and Gardens Real Estate Wostal Realty. “This is absolutely false if there...

by Jenn Pfeiffer

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March 25, 2024

Buying, Selling

What Every Homebuyer Should Know About Closing Costs

From our friends in KCM Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too. Here’s some helpful information on what those costs are and how much you should budget for them. What Are Closing Costs? A recent article from Bankrate explains: “Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .” Simply put, your closing costs are...

by Jenn Pfeiffer

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March 21, 2024

Buying, Selling

What Are Experts Saying About the Spring Housing Market?

From our friends in KCM If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here’s what the professionals are saying about what’s in store for this season. Odeta Kushi, Deputy Chief Economist, First American: “. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.” Lisa Sturtevant, Chief Economist, Bright MLS: “There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.” Danielle Hale, Chief...

by Jenn Pfeiffer

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March 19, 2024

Buying, Selling

Housing Starts Rebound in February by Largest Amount in Nine Months

By Greg Robb | Realtor.com The numbers: Construction of new U.S. homes rebounded 10.7% in February to an annual pace of 1.52 million units, the Commerce Department said Tuesday. That is the biggest gain in nine months. Despite the increase, starts are still below December’s level. Economists on Wall Street were expecting a 7.4% rise in housing starts in February to 1.43 million. All numbers are seasonally adjusted. The number of housing starts in January was revised slightly higher, to a drop of 12.3% to 1.37 million, from an initial reading of a 14.8% drop to 1.33 million. It is still the biggest drop since May 2022. Building permits, a sign of future construction, rose...

by Jenn Pfeiffer

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March 11, 2024

Buying, News

The Housing Market’s Unhappy New Year: Fewer Homes Go Under Contract as Mortgage Rates Rise

By Clare Trapasso | Realtor.com The housing market isn’t off to a good start this year. The number of homes under contract that haven’t closed yet dropped 4.9% from December to January, according to a recent report from the National Association of Realtors®. Year-over-year pending home sales were down 8.8% in January. The culprit? Rising mortgage rates that make it more expensive for folks to purchase homes. “Consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that’s impacting home sales,” said NAR Chief Economist Lawrence Yun in a statement. Mortgage rates had dropped to a low of 6.61% in late December but ticked up slightly in January, according to Freddie Mac data. “Buyer demand...

by Jenn Pfeiffer

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March 5, 2024

Buying

Buying Houses Before Finding Spouses

By Debra Kim| The New York Times Single men traditionally get a head start in homeownership and reap the benefits faster, but single women are thinking creatively to close the gap. Rachel Rodman always dreamed of owning her own home, but life kept getting in the way. She became a mother at 19, then went through a complicated divorce that left her financially depleted. For many years, she felt resigned to renting with her son, James, now 14. Ms. Rodman, 33, earns a steady income as an events producer for SXSW, the annual festival of creative arts and technology held in her hometown, Austin, Texas. Still, she never felt she had...

by Jenn Pfeiffer

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February 15, 2024

Buying

Don’t Let the Latest Home Price Headlines Confuse You

From our friends KCM Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture. If you look at the national data for 2023, home prices actually showed positive growth for the year. While this varies by market, and while there were some months with slight declines nationally, those were the exception, not the rule. The overarching story is that prices went up last year, not down. Let’s dive into the data to set the record straight. 2023 Was the Return to More Normal Home Price Growth If anything, last year marked a return to more normal home price...

by Jenn Pfeiffer

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February 14, 2024

Buying

Why So Many People Fall in Love with Homeownership

From our friends in KCM Chances are at some point in your life you’ve heard the phrase, home is where the heart is. There’s a reason that’s said so often. Becoming a homeowner is emotional. So, if you’re trying to decide if you want to keep on renting or if you’re ready to buy a home this year, here’s why it’s so easy to fall in love with homeownership. Customizing to Your Heart’s Desire Your house should be a space that’s uniquely you. And, if you’re a renter, that can be hard to achieve. When you rent, the paint colors are usually the standard shade of white, you don’t have much control over the upgrades, and you’ve...

by Jenn Pfeiffer

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February 9, 2024

Buying, Living, News

Houses Are Still Selling Fast

From our friends in KCM Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn’t as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal. The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes...

by Jenn Pfeiffer

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February 6, 2024

Buying, Home Staging, Uncategorized

6 Reasons Why It Makes Sense To Sell a Home Right Now—Before the Spring Rush

By Jillian Pretzel | Realtor.com Thinking about selling your house in 2024? While many home sellers wait until spring to put their property on the market, there are some distinct advantages to getting ahead of the curve this year and listing sooner rather than later. Generally, the cold weather season causes home sales to be sluggish, but this winter is a bit different. High interest rates kept much of America’s real estate market in a deep freeze for most of 2023. But now that rates have subsided a bit in the new year, there is a whole lot of pent-up demand (and supply) that could burst onto the market at any...

by Jenn Pfeiffer

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What Does Contingent Mean in Real Estate?

What Every Homebuyer Should Know About Closing Costs

What Are Experts Saying About the Spring Housing Market?

Housing Starts Rebound in February by Largest Amount in Nine Months

The Housing Market’s Unhappy New Year: Fewer Homes Go Under Contract as Mortgage Rates Rise

Buying Houses Before Finding Spouses

Don’t Let the Latest Home Price Headlines Confuse You

Why So Many People Fall in Love with Homeownership

Houses Are Still Selling Fast

6 Reasons Why It Makes Sense To Sell a Home Right Now—Before the Spring Rush

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