An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer. It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash. Looking at the […]

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. "Inventory levels are still at historic […]

Key Takeaways: Renting doesn’t help build a future Homeownership can be accessible Contact your trusted local agents for more on being a first-time homebuyer Many renters discover a universal truth—renting can often feel like it lacks long-term benefits. However, each monthly rent payment potentially reduces a landlord’s mortgage while increasing their home equity. This revelation […]

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 […]

Like opening and closing a faucet increases and decreases the water flow, lowering interest rates increases home sales and raising interest rates decreases home sales. When home sales increase during periods of limited inventory, demand increases and prices go up. Contrarily, when home sales decrease, demand could lessen and prices moderate. There is opportunity with […]

Key Takeaways: Market conditions favoring sellers Adjusting to changes in space needs Aligning with your evolving lifestyle Emotionally ready and motivated for a fresh start As a Realtor, I understand how the idea of selling your home can be both exciting and daunting. With the market constantly changing, it’s important to know when the time […]

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?" Based on this behavior, a borrower securing a […]

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. From a seller’s standpoint, "as is" means the buyer will purchase […]

Key Takeaway: Closing costs are a part of every real estate sale There are many variables that determine the price of closing costs Ask your local real estate expert for specifics about closing costs When you’re buying or selling a home, it’s important to understand what closing costs entail. Closing costs are expenses and fees […]

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, […]