That kitchen you’ve been mentally redesigning…The bathroom that really needs a refresh…Or the outdoor space you keep saying you’ll get to someday…What if you already have what you need to finally make it happen? Because a growing number of homeowners are realizing just that.Homeowners are expected to spend over $522 billion on home improvements by the end of 2026 – and they’re not draining their savings accounts to get it done. Many are using their home equity.And if you’ve owned your home for 10+ years, there’s a chance you could use your equity to fund some home upgrades...
For the past few years, affordability has been what’s stopped a lot of buyers in their tracks. Maybe it stopped you, too.At some point you probably did the math, looked at the monthly payment, and decided to pause your search and wait for things to get better. But here’s something you may have missed while you’ve been sitting on the sidelines.Over the last year, housing affordability has improved in all 50 states. Yes, you read that right. It’s gotten better in every single state.That’s based on new research coming out of First American. And while housing is still fairly expensive compared...
Buying your first home is exciting, but it can also be a little nerve-wrecking because it’s something you’ve never done before. And trying to think of everything you need to do can feel like a lot. But here’s the key.You don’t have to figure everything out on your own. And you don’t have to do it all at once. Just tackle it one thing at a time.Here’s a simple list of 3 main things you should focus on to help you get started.1. Assemble Your Team: Don’t Do This AloneBuying a home is a team sport. And having the right professionals by your side can make a world of difference. Here’s who you...
You may have seen headlines on social saying the number of buyers backing out of their contracts is on the rise – and has recently reached a high not seen since 2017. That can sound intimidating. But it varies a lot by market.And here’s the key thing to understand if you want to sell. A lot of the time, there’s one common cause. And it’s something you can actually control.Here’s what you can do to get ahead of the biggest dealbreaker before it ever becomes a problem.The Top Dealbreaker: Issues That Pop Up During the InspectionA Redfin survey shows over 70% of recently cancelled contracts...
Foreclosures are ticking up. And that may make your mind jump straight to thoughts of 2008 – specifically to what happened to the market during the housing crash. So, let’s do exactly what your brain already wants to do, and see if there’s any connection there.The simple truth is foreclosure filings are rising. But they’re nowhere near crisis levels. And that’s not where they’re headed either. Here’s why.Take a look at serious delinquencies – loans where the homeowner is more than 90 days late on their mortgage payments.While those have increased slightly, data from the New York Fed shows...
Online searches for “can’t sell house” just hit an all-time high according to Google Trends. So, if your house has been sitting on the market without any bites, you’re not the only one. But it’s also not the end of the road. Homes are selling every day, so you can turn this around. You just need to take another look at your approach.If you’re feeling this pain, know this: an online search engine isn’t where you should go for your answers. It’s much better to talk to your agent. Because a search engine doesn’t know your market or your house. But your agent does.While a quick search or...
Mortgage rates have already dropped into the upper 5s twice this year. But after just a few days, they ticked back up into the low 6% range. If you saw that and thought, “Great. I missed it,” you’re not the only one.A lot of buyers are treating the 5s like some kind of magic number. As if moving from 6.1% to 5.99% suddenly changes everything. And from a mindset perspective, it does feel different.But here’s the part most people don’t actually run the math on.The Payment Difference Isn’t What You ThinkLet’s say you’re looking at a $500,000 home loan. At 6.1%, generally speaking, your...
Homeowners looking to sell usually want three things: plenty of interested buyers, strong offers, and a short timeline. Spring is the season that most often delivers all three.So, if a move has been on your mind this year, this is the window where momentum tends to work in your favor. Here’s what makes this season so powerful for sellers.1. More Buyers Will Be LookingTypically speaking, in the housing market, there’s no more popular time to move than the Spring. Historically, data coming out of ShowingTime proves that’s when buyer activity peaks each year. Take a look for yourself (see...
You’ve probably seen posts on social media talking about how “home prices are falling.” And when you see something like that, it’s normal to wonder:Is this the start of a crash?What does this mean for my house?Let’s clear this up right away. This is not a crash. And your home is not suddenly losing a lot of value.The National Story – Prices Are Still Going UpHere’s what often gets left out of what you’re seeing online. While some markets are experiencing slight declines, they’re the minority. Most places are still seeing prices rise or at the very least, hold steady.That’s why, at the...
What if you didn’t have a mortgage payment on your next house? It may sound a little unrealistic. But for a number of homeowners, it’s actually doable.Nearly 3 in 10 homes purchased today are bought in cash, according to the National Association of Realtors (NAR). That’s far more than the pre-pandemic norm (see graph below):So, how are so many buyers pulling that off? The answer is simple: home equity.Back in 2020-2021, mortgage rates and the number of homes for sale were both at all-time lows. And that combination pushed home prices up, fast.If you owned a home during that time, it likely...