Equity Is a Game Changer for Homeowners Looking To Sell
If you’re a homeowner, you might be torn on whether or not to sell your house right now. Maybe that’s because you don’t want to take on a higher mortgage rate on your next home. If that’s your biggest hurdle, understanding your equity may be exactly what you need to help you feel more comfortable making your move. What Equity […]
Why Homeownership Wins in the Long Run
With higher mortgage rates and concerns about a potential recession, people are questioning whether to buy a home this year. However, it’s crucial to consider the long-term benefits of homeownership. Home values tend to grow over time, leading to wealth accumulation. A recent survey shows that 70% of respondents believe buying a home is a safe investment. Home price appreciation has been significant, with national averages of over 56% in five years and over 290% in 30 years. Despite talks of a housing crash, prices are rebounding, making homeownership a wise choice compared to renting.
A Drop in Equity Doesn’t Mean Low Equity
You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly […]
Keys to Success for First-Time Homebuyers
Buying your first home is an exciting decision and a major milestone that has the power to change your life for the better. As a first-time homebuyer, it’s a vision you can bring to life, but, as the National Association of Realtors (NAR) shares, you’ll have to overcome some factors that have made it more […]
Owning a Home Helps Protect Against Inflation
You’re probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you’re a renter, you’re likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still […]
Homeowners Have Incredible Equity To Leverage Right Now
Even though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your […]
Reasons To Sell Your House Today [INFOGRAPHIC]
Some Highlights
How Homeowners Win When They Downsize
Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains: “Downsizing is somewhat […]
Why Buying a Home Makes More Sense Than Renting Today
The decision to rent or buy a home can be a challenging one. However, rising rental costs in recent years make owning a home a more appealing option. Rents have steadily increased since 1988, with the median asking rent in the US being $1,732 in March 2023, which is 25.7% higher than pre-pandemic levels. In contrast, homeowners with a fixed-rate mortgage can lock in a monthly payment for the duration of their loan, making homeownership more affordable in the long run. Additionally, owning a home allows you to start building equity, which can increase your net worth and set you up for future success. When considering homeownership, it’s essential to have a team of real estate professionals who can guide you through the process and explore your options.
Why Today’s Foreclosure Numbers Are Nothing Like 2008
The recent increase in foreclosure filings may have some potential homebuyers worried, but a closer look at the data reveals a different story. Foreclosures have been at record lows in recent years due to relief options for homeowners, such as the forbearance program. While the end of the government’s moratorium on foreclosures has led to an increase, it’s not the sudden flood of foreclosures that some may fear. Rising unemployment rates and other economic challenges are contributing factors, but many homeowners still have significant home equity that can help prevent increased levels of foreclosure activity. Overall, while foreclosures may be climbing, they are nowhere near the levels seen during the housing crisis, and the current market won’t lead to a crash in home prices.