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A lot of people assume spring is the ideal time  to sell  a house. And sure, buyer demand usually picks up at that time of year. But here’s the catch: so does your competition because a lot of people put their homes on the market at the same time. So, what’s the real advantage of  selling your house  before spring? It’ll stand out. Historically, the number of  homes for sale  tends to drop during the cooler months – and that means buyers have fewer options to choose from. You can see how that trend played out over the past few years in  this data  from the  National Association of Realtors  (NAR). Each time, the supply of homes for sale dipped during these cooler months. And then, after each winter lull, inventory started to climb as more sellers jumped into the market closer to spring ( see graph below ): Here’s why knowing how this trend works gives you an edge. While inventory is higher this year than it‘s been in the last few winters, if you work with an agent to list now, it’ll still be in this year’s sweet spot. So, while other sellers are taking their homes off the market, you can sell before the spring wave of new listings hits, and your house will have a better chance of standing out. Why wait until spring when you can get ahead of the curve now? Fewer Listings Also Means More Eyes on Your Home Another big perk of selling in the winter? The buyers who are looking right now are serious about making a move. During this season, the window-shopper crowd tends to stay busy with other things, like holiday celebrations, and avoids looking for homes when the weather’s cooler. So, the buyers out looking aren’t casually browsing—they’re motivated, whether it’s because of a job relocation, a lease ending, or some other time-sensitive reason. And those are the types of buyers you want to work with.  Investopedia  explains: “. . .   if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy.” Bottom Line With less competition and serious buyers on the hunt, you’ll be in a great position to sell your house this winter. Let's connect if you’re ready to get the process started.

Trying to decide between renting or  buying a home ? One key factor that could help you choose is just how much homeownership can grow your net worth. Every three years, the  Federal Reserve Board  shares a report called the  Survey of Consumer Finances  (SCF). It shows how much wealth homeowners and renters have – and the difference is significant. On average, a homeowner’s net worth is nearly 40 times higher than a renter’s.  Check out the graph below to see the difference for yourself: Why Homeowner Wealth Is So High In the previous version of that report, the average homeowner’s net worth was about $255,000, while the average renter’s was just $6,300. That’s still a big gap. But in the most recent update, the spread got even bigger as homeowner wealth grew even more ( see graph below ): As the SCF report  says : “. . . the 2019-2022 growth in median net worth was the largest three-year increase over the history of the modern SCF, more than double the next-largest one on record.” One big reason why homeowner wealth shot up is  home equity . Equity is the difference between your home’s value and what you owe on your mortgage. You gain equity by paying down your mortgage and when your home’s value goes up. Over the past few years, home prices have gone up a lot. That’s because there weren’t enough available homes for all the people who wanted one. This supply-demand imbalance pushed home prices up – and that translated into faster equity gains and even more net worth for homeowners. If you’re still torn between whether to rent or buy, here’s what you should know. While inventory has grown this year, in most places, there’s still not enough to go around. That’s why expert forecasts show prices are expected to go up again next year nationally. It’ll just be at a more moderate pace. While that’s not the sky-high appreciation we saw during the pandemic, it still means potential equity gains for you if you buy now. As Ksenia Potapov, Economist at  First American ,  explains : “Despite the risk of volatility in the housing market , homeownership remains an important driver of wealth accumulation and the largest source of total wealth among most households .” But prices and inventory are going to vary by area. So, lean on a local real estate agent. They’ll be able to give you the local trends and speak to the other financial and lifestyle benefits that come with owning a home. That crucial information will help you decide the best move for you right now. As  Bankrate  explains: “Deciding between renting and buying a home isn’t just about cost — the decision also involves long-term financial strategies and personal circumstances.  If you’re on the fence about which is right for you, it may be helpful to speak with a local real estate agent who knows your market well. An experienced agent can help you weigh your options and make a more informed decision. ” Bottom Line If you’re not sure if you should rent or  buy , keep in mind that if you can make the numbers work, owning a home can really grow your wealth over time. And if homeownership feels out of reach, let’s connect so we can explore programs that may make buying possible.

With the 2024 Presidential election fast approaching, you might be wondering what impact, if any, it’s having on the housing market. Let’s break it down. Election Years Bring a Temporary Slowdown In any given year, home sales slow down slightly in the fall. It’s a typical, seasonal trend. However, according to data from BTIG , in election years there’s usually a slightly larger dip in home sales in the month leading up to Election Day ( see graph below ): Why? Uncertainty. Many consumers hold off on making major decisions or purchases while they wait to see how the election will play out. It’s a pattern that’s shown up time and time again, and it's particularly apparent for buyers and sellers in the housing market. This year is no different. A recent survey from Redfin found that 23% of potential first-time homebuyers said they’re waiting until after the election to buy . That’s nearly a quarter of first-time buyers hitting the pause button, likely due to the same feelings of uncertainty. Home Sales Bounce Back After the Election The good news is these delayed sales aren’t lost forever—they’re just postponed. History shows sales tend to rebound after the election is over. In fact, home sales have actually increased 82% of the time in the year after the election ( see chart below ): That’s because once the election dust settles, buyers and sellers have a sense of what’s ahead and generally feel more confident moving forward with their decisions. And that leads to a boost in home sales. What To Expect in 2025 If history is any indicator, that means more homes will sell next year. And based on the latest forecasts, that’s exactly what you should expect. As the graph below shows, the housing market is on pace to sell a total of 4.6 million homes this year, and projections are for 5.2 million total sales next year ( see graph below ): And that aligns with the typical pattern of post-election rebounds. So, while it might feel like the market is slowing down right now, it’s more of a temporary dip rather than a long-term trend. As has been the case before, once the election uncertainty passes, buyers and sellers will return to the market. Bottom Line It’s important to remember that while election years often bring a short-term slowdown in the housing market, the pause is usually temporary. Those sales are not lost. Data shows home sales typically increase the year after a Presidential election, and current forecasts indicate 2025 will be no different. If you’re waiting for a clearer picture before making a move, just know that the market is expected to pick up speed in the months ahead.

If you’re toying with the idea of selling your house, you’re probably wondering how much it’ll cost. To be honest, the final number will depend on several factors like the offer you accept, if you help with your buyer’s closing costs, how many repairs you tackle, and more. Closing Costs and Commission These are the fees you’ll pay at the closing table to cover various aspects of the sale. You’ll have your own closing costs and you may even offer to pay some of the buyer’s as a concession. Pre-Listing Inspection and Repairs One optional step some sellers take is having a pre-listing inspection. It gives you an idea of what may pop up later on in the buyer’s inspection – because those are the items a buyer may ask you to toss in a credit (or concession) to cover later on. This allows you to get a jump on any repairs and tackle them before you list, so your house is set up to impress from the start. Home Staging As inventory grows, you may want to take a few extra steps to make sure your house stands out. Staging is an optional way to make sure your house shows well. If you want to skip this step, you could opt to lean on your agent’s advice for what looks good and what may feel cluttered. Why Leaning on an Agent Is Key If you’re looking to cut down on your costs, you have options. An agent is your go-to expert throughout the transaction. They’ll offer customized advice every step of the way, including how to stage the house and what repairs to tackle. This can help you avoid hiring an outside stager or having to pay for a pre-listing inspection. Want a better picture of what you should expect when you sell your house? Let’s have a conversation and walk through it together. #sellyourhouse #realestatenews

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent. After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the Federal Reserve cut the Federal Funds Rate for the first time since they began raising that rate in March 2022 . And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower mortgage rates are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at Bright MLS , says: “A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.” The best part? You can take advantage of that renewed buyer interest. As Rates Fall, Buyer Activity Goes Up The graph below illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the Mortgage Bankers Association (MBA) Mortgage Application Index , which tracks the number of mortgage applications. As you can see, as mortgage rates ( orange ) come down, the Mortgage Application Index ( blue ) rises, showing more people start to re-engage in the process ( see graph below ): What This Means for You According to the National Association of Realtors (NAR), home sales increased in July, which was a welcome shift after four straight months of declines. If you're a homeowner thinking about selling, this uptick in buyer activity works in your favor. More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And, according to Edward Seiler, AVP of Housing Economics at the Mortgage Bankers Association (MBA), this trend is expected to continue: “MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and lead to increased activity in the housing market .” All in all, the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours. With more buyers entering the market, now’s the time to start getting your house ready to sell . Bottom Line The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue. Let’s work together to take advantage of this increased buyer demand and get your house ready to sell.

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns, credit score , and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market. Pre-Approval Helps You Know Your Numbers While  home affordability  is finally starting to show signs of improving, it’s still tight. So, it’s a good idea to talk to a lender about your loan options and how today’s changing mortgage rates will impact your monthly payment. The pre-approval process is the perfect time for that. In addition to determining the maximum amount you can borrow, pre-approval also helps you understand this piece of the puzzle. As Investopedia says: “Consulting with a lender and obtaining a pre-approval letter allows you to discuss loan options and budgeting with the lender; this step can clarify your total house-hunting budget and the monthly mortgage payment you can afford .” You should use this information to tailor your  home search  to what you’re actually comfortable with budget-wise. Since mortgage rates have inched down some lately, you may find you’re able to afford a bit more than you’d expect for your monthly payment, but you still want to avoid overextending . As CNET explains: “In many cases, a lender may preapprove you for more than you need to spend on a home. And while it can be tempting to look at houses outside your budget, it won’t help you in the long run. Before you start touring homes, figure out how much you can realistically afford and stick to your budget.” Pre-Approval Makes Your Offer More Appealing And once you do find a home you want in your budget, pre-approval has another big perk. It not only makes your offer stronger, it also shows sellers you’ve already undergone a credit and financial check. When a seller sees you as a serious buyer, they may be more attracted to your offer because it seems more likely to go through. As Greg McBride, Chief Financial Analyst at  Bankrate,  says: “Preapproval carries more weight because it means lenders have actually done more than a cursory review of your credit and your finances, but have instead reviewed your pay stubs, tax returns and bank statements.  A preapproval means you’ve cleared the hurdles necessary to be approved for a mortgage up to a certain dollar amount .” As mortgage rates trend down, more buyers are going to be ready to jump back into the market. And while demand is still limited right now, there’s the potential for competition to pick back up, especially in hot markets. So, why not stack the deck in your favor and make sure you’re putting yourself in the best position possible when you find a home you love? Bottom Line If you’re planning on buying a home, don’t forget to get pre-approved early in the process. It can help you get a more in-depth understanding of what you can borrow and shows sellers you mean business.

If your listing expired and your house  didn’t sell , it’s totally natural to feel a mix of frustration and disappointment. And as you’re working through that, you’re probably also wondering what went wrong and what you should do next. If you still need to move and want to get it back on the market, here are some things  to consider  as you look back. Was It Priced for Today’s Market? Setting the  right price  from the start is key. While it might be tempting to try shooting high with your price, that can slow down the  selling process  big time. If your house was  priced higher  than others similar to it, it may have turned away buyers. And that’s likely why it sat on the market. As  Rocket Mortgage  explains: “Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . .  If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing . . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment.  Your home’s true value is whatever a buyer is willing to pay for it .” Was It Easy for Buyers To Tour? One of the  biggest mistakes  you can make when selling your house is overly restricting the days and times when potential buyers can tour it. Even though it might feel stressful to drop everything and leave when buyers want to see your house, being flexible with your schedule is important. After all, minimal access means minimal exposure to buyers.  ShowingTime   advises : “. . . do your best to be as flexible as possible when granting access to your house for showings.” Was It Set Up To Make the Best Impression on Buyers? If buyers weren’t interested in your house, it’s worth taking another look at your home through their eyes. Are there outstanding repairs that may be distracting them? Even if it’s a small thing, some buyers may see it as a sign the maintenance on the home is falling behind. Just remember, you don’t always need to make big upgrades. Selective small repairs or touch-ups go a long way. Things like tidying up your  landscaping , a fresh coat of paint inside, or removing personal items and clutter can work wonders in sprucing up the house for potential buyers. You could also consider staging the home. Were You Willing To Negotiate? If there were offers coming in, but you weren’t ready to negotiate, that may be another reason why it didn’t sell. While you want to get top dollar for your house, you also need to be realistic about what your house can net in today’s market. The market is still tipped in a  seller’s favor , but the supply of  homes for sale  is growing and buyers are feeling the sting of higher mortgage rates. So being willing to play ball can make closing a deal a whole lot easier. A skilled agent can help. As  Ramsey Solutions  explains: “If you don’t have the money or time to fix home issues, consider offering some other form of incentive to buyers. . .  An experienced real estate agent can help you arrange a deal where you and your buyer both come out on top .”  Did You Listen To Your Agent? If you want an  expert’s advice  on why it didn’t sell, rely on a trusted real estate agent. Whether that’s the agent you used previously or a new one once the listing has officially expired, a  great agent  will sit down and take the time to talk it over with you. They’ll want to hear your honest opinion on what worked and what didn’t, and where you want to go from here. Then, they’ll offer their perspective. This includes tailored advice and effective strategies for re-listing your house to get it sold. As  Better Homes & Gardens  says, an agent should be your go-to resource in this situation: “If you’re frustrated with the timeline of your sale, chat with your real estate agent.  Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key .” Bottom Line It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Connect with a reliable real estate agent to determine what happened, and what changes you should make to get your house back on the market.