4 Things Your Zestimate Won’t Know About Your Home’s Value (But Your Agent Will)

We’ve all opened up Zillow, typed in our address, and waited with bated breath for that magical Zestimate to appear. But while that Zestimate might give you a quick thrill (or chill), it only scratches the surface of your home’s actual value.

Algorithms are great for predicting the weather, finding the shortest route to work, or suggesting what movie to watch next. But when it comes to understanding the real, nuanced value of your home, that’s a job for a human—and a professional one at that.

So here’s a look at four crucial things your Zestimate just can’t take into account when pricing your home, but your local real estate agent can:

1) Neighborhood Nuances

Zestimates likely take your location into account to some degree, but they don’t know the nuances of your specific neighborhood, street, or exact location like a local agent does. Agents consider these finer details that truly influence a home’s appeal and factor them into their valuations.

2) Upgrades and Updates

Zestimates are based on general data, not specific upgrades, so don’t expect it to know that you just renovated your kitchen and include that in their valuation. But your agent will not only take all of the updates and renovations you’ve made into consideration, they’ll also take note of the small (but impressive!) details when pricing your home.

3) Local Market Trends

A savvy agent is tapped into current market trends. They’re constantly checking the pulse of local sales, shifting buyer preferences, and even seasonal changes that affect home values. Your Zestimate doesn’t reflect what’s trending in your neighborhood right now and how it impacts your home’s appeal.

4) Buyer Psychology

Home value isn’t just about square footage; it’s about how buyers feel. A Zestimate can’t assess what the current vibe is in your local market. Agents have their thumb on the pulse of the market, and have a better feel for how buyers will act and react to your home in the current market.

New Year, New House? Here’s Why You Shouldn’t Wait past February to Start Searching

If real estate agents earned a dollar every time they heard someone say, “I’m waiting until the new year to buy a house,” they wouldn’t retire rich, but it might be enough to fill up their gas tank…with premium!

They start hearing buyers say this just before the holidays, often from buyers who’ve spent months searching for their dream home. And the reasoning seems sound—December is hectic, inventory shrinks, and many hope for better options or lower rates in the new year.

However, there aren’t always drastic or noticeable changes to the real estate market the minute the confetti is cleaned up in Times Square on January 1st, which often leads to many home buyers following a similar pattern in the new year.

The Predictable Pattern of “New Year” Buyers

Here’s a prediction: many buyers who postponed their home search until the new year will follow a strikingly familiar arc to this in the coming months.

• They’ll begin the year excited and optimistic about buying a house in the coming year.

• In the first couple of months they’ll feel like the market hasn’t changed enough yet because rates haven’t dropped significantly or inventory hasn’t ballooned.

• They’ll feel like there’s plenty of time in a year and decide to wait until the spring market officially begins to get serious about looking for a house.

• Spring arrives, bringing more listings…but also more competition.

• They struggle to stand out in bidding wars, losing out to better-prepared buyers.

• They’ll decide to pause their house-hunting efforts for a little while and wait until competition dies down, or more houses hit the market.

• Summer will come and they’ll blame vacations for a lack of inventory, or their reason for not being able to look at houses.

• The holidays return, and they’re back to saying, “We’ll wait until next year.”

Sound familiar? If so, don’t feel bad, it’s a cycle agents witness many buyers go through each year. But the beginning of 2025 might hold a subtle, game-changing opportunity to help you avoid repeating it, while other buyers fail to recognize the opportunity at hand!

What Most Buyers Will Do (and Why You Shouldn’t)

According to recent Redfin data, the number of homes for sale has hit a four-year high, rising 12.1% year-over-year. Even more notable, over half (54.5%) of active listings have been on the market for at least 60 days without going under contract.

Many of these “stale” listings are sitting on the market because they were simply overpriced, which is a golden opportunity for buyers who get out there as soon as the new year begins and start making offers.

Properties that aren’t perfectly priced or move-in ready linger almost always linger on the market. But the fact that many buyers took some time off for the holidays adds to why there are more homes on the market and they’re taking longer to sell. And a house often loses even more appeal to buyers as it racks up more and more “days on market”. So a lot of the houses that are sitting on the market will easily be ignored by other buyers.

Many buyers will wait for new listings to come on the market in spring, or pounce on any new listings that come on before then if they’re priced right and/or in great condition. But they’ll just end up facing stiff competition from other buyers for those listings.

This makes the next month or two prime time to scoop up a house with less competition and possibly for a better price.

Instead of competing with a crowd, savvy buyers can take advantage of the quieter winter months to go after the homes that others are ignoring. It’s also the perfect time to consider homes that have been sitting on the market because the sellers are often more willing to accept offers below asking price or agree to favorable terms.

Your January 2025 Home-Buying Game Plan

Here’s how to make the most of these market conditions:

1. Ask your agent to search for homes that have been on the market for 60+ days, or whatever they feel constitutes “stale” in your market area.

2. Also ask if they can look for any properties that may be off-market currently, due to the holidays. Some sellers pull their listings in winter, intending to relist in spring. Have your agent reach out to the listing agents of home sellers that may have taken their homes off the market to see if they are still open to offers.

3. Be patient and don’t get discouraged. Even if you aren’t able to get a house under contract in the first few weeks of the year, stay focused and continue to remain active in the market. This will help you compete against other buyers who enter the market in the months to come.

The Takeaway:

When the holiday season rolls around, many buyers often put off looking for a home until after the new year. However, they often end up pushing that start date off until the spring market begins.

But you may want to start your search in January or February in order to avoid the competition that will surely increase in the spring market, as well as take advantage of the fact that there are currently more homes sitting on the market unsold than there have been in the past four years! you to hit the ground running in the new year.

Why Shopping for a Home During the Holidays Might Be the Best Gift You Give Yourself

The holiday season is a busy time for most people filled with shopping for gifts, going to parties, hosting guests, and perhaps traveling to visit loved ones. Amid all the holiday cheer and festivities, shopping for a home often doesn’t make the list of top things to do.

Besides being busy—and spending more than usual!—many potential buyers assume there won’t be homes worth looking at during the holidays. So it’s not uncommon for people planning on buying a home to say they’re waiting until the spring market when their lives settle down, and there are more houses for sale.

There’s nothing wrong with taking that approach. But there are certainly some advantages to looking for a house during the holidays that people who wait miss out on…

The Benefits to Looking for a Home During the Holidays

When it comes to real estate, timing can be everything—and the holiday season offers a unique opportunity to explore the market on your terms. While it’s not the busiest time of year for buying or selling homes, that can work in your favor. In fact, stepping into the market now could give you an edge over the competition and help you discover hidden opportunities that other buyers might overlook.

Here are four reasons why searching for a home during the holidays might be one of the smartest moves you make this year:

1. There’s less competition. With most other buyers preoccupied with holiday festivities, you’ll find fewer people vying for the same properties, which can mean fewer bidding wars, and potentially better deals. That’s always a bonus at this time of year, but even more so considering how stiff competition has been in many areas over the last few years.

2. Sellers may be more motivated. If a home is on the market during the holidays, the seller is probably very serious about selling their house. Perhaps they’re relocating for a job, are going through a divorce, or simply need to sell in order to buy their dream home. Whatever their reason, it could also mean they’ll be more willing to negotiate.

3. You’ll gain insights into the market ahead of your competition. Even if you don’t end up finding and buying a house during the holiday season, just kick-starting your search process will give you a better handle on the market than a buyer who starts looking after the new year. Diving into the market during the holidays allows you to familiarize yourself with pricing, inventory, and neighborhood trends.The better you understand the market and process, the more ready you’ll be to pounce on your perfect home when you see it, and make a solid offer.

4. You may have more time to look. While it obviously depends upon your particular job and work responsibilities, holiday vacations or slower work schedules can provide a bit more flexibility to browse listings, schedule showings, and do some thoughtful research without the usual weekday hustle.

Don’t Let the Downsides Get You Down

House hunting during the holidays comes with some unique advantages—but like any real estate journey, it’s not without its challenges. The key to success is being prepared for the potential downsides while keeping your eye on the ultimate goal of finding your dream home. With a little patience and the right perspective, you can navigate these seasonal hurdles and make the most of your home search.

Here are a few common drawbacks to consider, along with tips to help you stay on track and keep things in perspective:

• There may be a limited number of homes to look at. There typically aren’t as many homes on the market in December as there will be in the spring. That said, inventory has been limited throughout the year in many areas for quite some time, so that shouldn’t be a deal breaker right now. Just don’t let yourself get discouraged and stop looking, because you never know when a great house will hit the market, and pausing your home search until the spring could lead to missing one you would have loved.

• You might need to be patient about getting a showing scheduled. Keep in mind that sellers may be hosting visitors, getting ready for a party, or simply enjoying some quiet downtime at home, and may not allow you to come see their house on the exact day and time you’d prefer. Just be patient and understanding and schedule a time that works for both you and the seller.

• There could be delays in the buying process. If you find the perfect home and make an offer that gets accepted, some aspects of the process could take longer than usual. There are a lot of professionals involved in a real estate transaction—lenders, inspectors, appraisers, and title companies—and any one of them may also be juggling vacation schedules. Again, just be patient and relish the fact that you were able to get a house under contract while other buyers were taking a break from even looking at houses.

Even with those drawbacks, the holiday season offers unique opportunities to gain a competitive edge. So if you’ve been planning on waiting until after the new year to buy, consider getting the ball rolling now!

The Takeaway:

While it may not seem like the most festive activity, starting your home search during the holidays can be a smart move. You’ll face less competition, encounter motivated sellers, and get a jumpstart on understanding the market—advantages that can put you ahead of the pack when the spring buying season heats up.

Yes, there are some challenges, like limited inventory and potential delays, but they’re manageable with patience and flexibility. Even if you don’t buy a home right now, getting familiar with the process and market conditions will prepare you to hit the ground running in the new year.

How Will the Election Affect the Real Estate Market Now That It’s Over?

Many would-be buyers have been holding off on buying homes until after the election, as well as some sellers who’ve been waiting until post-election to list their homes. And all of that waiting is evident in the real estate market. According to a recent article from realtor.com, sales of existing homes in the United States dropped to a 14-year low in September, even though mortgage rates hit a two-year low that same month.

But now that the election is over, that may change.

A recent article from realtor.com answered key questions about the ways that the election is and may impact the real estate marketing, including:

1) Why is the election impacting the real estate market?

Homebuying or selling is a major decision, and with politics feeling so uncertain and polarized, many people are waiting to make major life decisions (including buying or selling real estate) until after the election results have been confirmed.

2) Will home sales increase after the election?

According to the article, home sales and prices have increased annually in the four months following every election since 2004, with the exception of 2008, when the country was in the midst of a housing crisis. So, based on that data, there could be reason to believe that home sales and prices will increase following the 2024 election.

3) Is it election jitters that are causing the slow down?

While many people will say the election is the reason they’re not buying or selling, the truth is, people are waiting to buy and/or sell for a variety of reasons. So, while the election may be contributing to the slowdown in real estate activity, it’s certainly not the only reason.

8 Ways House Hunting Is Basically Trick-or-Treating for Adults

There’s no definite answer as to how old is “too old” to go trick-or-treating. But let’s face it, if you’re old enough to buy a house, you’re probably going to get some nasty looks if you throw on a costume and go knocking on people’s doors looking for candy handouts.

However, you can relive the childhood thrill of trick-or-treating as a home buyer…

While you might not get away with knocking on doors in costume anymore, house hunting lets you live out the thrill of Halloween—minus the sugar rush! Check out these 8 ways house hunting is similar to the trick-or-treating:

1) The anticipation as you walk up to a house…

Remember hoping every house you were walking up to was going to be the one that had king-sized candy bars? You’ll have that same feeling every time you’re walking up to a house you’re going to see, hoping it has more to offer than any other house you’ve been to yet.

2) Trying to get to a house before it’s too late…

Whether it’s scoring your fair share of candy, or snagging the perfect home, the race is on. You want to get there before everyone else does, because houses—like candy—sometimes disappear faster than you’d expect!

3) Sometimes you need to wait for your turn…

Whether it’s an open house, or a hot new listing with back-to-back showings, sometimes you’ve got to wait in line to see a house like you did back in the day when other kids were lining up at a house to get candy.

4) What’s behind the door can be disappointing…

When it comes to searching for a house, sometimes the online photos make it look way better than reality. It’s like walking up to a high-end house when trick-or-treating, fully expecting the owner to be doling out Snickers—at least the “Fun Size” ones—and getting a scoop full of candy corn instead.

5) But sometimes the opposite happens…

On the other hand, sometimes you look at a house you almost crossed off your list because the pictures online didn’t look all that promising, and it ends up being way better than you expected! It’s just like that house on your street where the little old lady lived and you thought would be giving out boxes of raisins on Halloween, and she ended up giving you the best loot of the night.

6) The house you didn’t get to in time…

Whether it’s house hunting or trick-or-treating, it pays to get to the door ASAP. Taking your time to go see a house you’re interested in could lead to finding out the house is under contract already, which is the equivalent to getting to a house right after they’ve run out of candy on Halloween.

7) There’s always a house that gives you the creeps…

Every neighborhood has the house you want to avoid on Halloween because there’s a creepy old man living there, or it just looks spooky from the road. Some houses will give you that same vibe when house hunting, because of some crazy urban legend about it being haunted, or just some scary decor.

8) It’s fun to separate the keepers from the throwaways…

After a long day of house hunting (or trick-or-treating), it’s fun to assess the pros and cons of each house you saw. Which houses made the best impression? Which ones were a total letdown? It’s the adult version of dumping all of the candy out of your bag and sorting through it to make a pile of the candy you want, and making a separate pile to trade or give to your parents.

4 Tips For Buying A Home From A Distance

Chances are, if you’re looking for a new home, you’re ready for a change of scenery. And while that might mean just a new property or a new neighborhood, for many potential homebuyers, that often means a new city. And if you’re considering buying property in a city other than the one where you currently reside, you probably have a lot of questions about the process. Will you have to fly to your new city every weekend to look at properties? Will you miss out on hot properties? Is it even possible to buy without physically being in your city?

Buying a home from a distance certainly presents its own set of unique challenges, but by no means is it impossible. Here are four tips for buying a home from a distance to make the process easier, faster, and less stressful for you and your family:

1. Gather information

When you’re buying property in an unfamiliar city, the first thing you need to do is educate yourself. Gathering information on the city, the neighborhoods, the cost of living, and general property information is essential to help you make an informed decision. Without it, you’ll likely waste time and energy exploring homes that ultimately aren’t the right fit for you.

For example, you might see a home that matches all of your criteria and think “Great! We should look at this home!” But once you do your research, you might learn that while the home is great, it’s in an undesirable area, doesn’t have the walkability you’re looking for, or has a subpar school system that wouldn’t be the right fit for your children.

Thoroughly researching your new city and the different areas within it will help you save time by only viewing properties that fall within the neighborhoods you want to live in. Do research on the internet and, if possible, connect with residents of the city (friends of friends are always a great resource) to get their take on where to live and where to avoid.

2. Choose the right real estate agent

The key to successfully buying a new home from a distance is choosing the right real estate agent. You want to work with someone who’s an expert in your new market and who you trust to check out properties on your behalf when you’re not around.

Since you’re not in town to pop by and view properties, you only want to spend time on properties that check all of your boxes and that could be a serious contender for purchase. Ideally, your real estate agent will act as your eyes and ears, going to see properties, eliminating ones that aren’t the right fit for you, and only bringing your attention to the ones they feel hit the mark.

You also need a real estate agent with a sense of urgency. Most markets move quickly, and since you’re at a distance, you need to trust that your agent is working for you and making sure you don’t miss any hot opportunities.

3. Decide your boundaries and parameters up front

Once you find your agent, it’s important that you set your boundaries and parameters up front. How often will you fly in to view properties? If the perfect home came along, would you purchase it sight unseen? Do you want a virtual tour of every home your real estate agent is considering or just the ones they feel are perfect?

By setting proper expectations up front, you’ll avoid any miscommunications or misunderstandings during the purchase process, which could otherwise be exacerbated by the distance between you and your agent.

4. Leverage technology

Thanks to technology, there’s never been a better time to search for properties from afar. And if you want to have the easiest, fastest, and most positive experience with distance homebuying, you need to leverage the technology available to aid your home search.

When exploring neighborhoods, use sites like WalkScore and BikeScore to get an idea of how easy to navigate your new neighborhood is. Use real estate sites like Zillow and Redfin to explore everything from selling history to school systems and ratings to estimated taxes for properties you’re considering purchasing. Have your real estate agent use video conferencing technology like FaceTime or Skype during property walk-throughs so you can get a sense of the layout and flow of properties. And when you’re finally ready to buy, have your real estate agent use a file management program like DocuSign to get all the necessary documents signed and delivered (without you ever having to leave your computer desk).

Trying to find and buy a home in a city you don’t live in can be a challenge. But when you do your research, know what you want, find the right agent, and make technology work in your favor, finding your dream home in a far away zip code won’t be as difficult as you might think.

6 Questions to Consider When Downsizing

If you’re considering moving into a smaller home, you may be eager to save money on mortgage payments and utilities. You might also be looking forward to spending less time and effort on interior and exterior home maintenance.

But before you begin packing up your belongings, here are a few things you might want to consider to help you choose the best one for the lifestyle you want.

1. Will this be your forever home?

Just because you’re downsizing, that does not mean you will only be considering a one-floor home. You could be looking at smaller homes with second floors, or lots of stairs.

You may still be in great health and shape, but as you age, steps often become the enemy, as climbing and descending a staircase causes pain in the back and legs. With that in mind, be realistic about the type of floor plan that best suits your future needs.

If you’re thinking this move will be your last and you’ll enjoy your retirement in this smaller space, you may want to look for a ranch, condo, or apartment that offers one-level living.

2. How much room will you need?

If you have children, even if they are in or out of college, that doesn’t mean they won’t be back to live with you at some point. Multi-generational living is on the rise. According to the Office of National Statistics, 32 percent of those in the 18 to 34 age range lived with their parents in 2017, compared with 25 percent in 1997. For men, that statistic is even higher at 37 percent. Though you may think your adult children have left the nest, they may boomerang their way back to you.

If you move to a popular destination, will you have frequent visitors? If so, do you want to open your home to them for a brief or extended stay?

These are just a couple of specific scenarios to get you thinking about the square footage you may need. If having room to accommodate adult children, grandkids, relatives, or friends is important to you, you may not want to scale back too substantially.

Of course, if you’re hoping to keep your home all to yourself, a significant downsizing should do the trick!

3. What are your storage options?

Keep in mind, if you’re downsizing, you will likely have to part with some belongings, so take an honest assessment of what you have and what of it you want to keep and bring with you.

Do you have heirloom furniture you’re not ready to part with, or large sporting equipment like jet skis or kayaks? If so, you’ll want to be sure that your next home offers a place for you to store these treasures. If it doesn’t, look into nearby storage facilities so you don’t have part with your prized possessions.

4. Will your pets be welcome?

Even if your goal is to go smaller, you’ll still want enough space to ensure your pets feel comfortable and safe.

If you have a cat or dog (or any other type of pet), you probably think of them as a four-legged family member. As you’re considering smaller spaces such as condos or apartments, make sure they’re pet-friendly. And, if your pet needs time in the great outdoors, make sure it’s allowed and that there is ample and desirable space to bring them outside.

5. Is there a sense of community?

Moving can be stressful — especially if you’re leaving behind friends, family, and neighbors you’ve known for years. Before putting down roots in a new locale, think about what your day-to-day life will be like without this close circle.

If you’re accustomed to an active social life, you’ll want to be sure your new enclave is brimming with opportunities to make new friends. Likewise, if you enjoy hobbies you’d prefer not to live without, do your due diligence so you can still enjoy the activities that bring you fulfillment.

6. What are your transportation options?

If part of your downsizing plan includes hanging up your car keys, you’ll want to explore your transportation options. From ride-sharing and community shuttles, to mass transit and air travel, know how easy or challenging it is to get around your potential new area before you move.

Taking the time to truly think about your preferences and what will make you most comfortable going forward can save you from the heartaches and headaches of having to move again.

Once you’ve made a list of must-haves, share them with your real estate agent so you’ll look at only those spaces that meet your criteria. This way your only regret will be that you didn’t downsize sooner.

Important Things to Know When Buying a Home in a New Place:

Purchasing a home is a significant investment, and buying in a new area adds an extra layer of considerations. Whether you’re moving for a job, to be closer to family, or simply for a change of scenery, it’s essential to do your research. Here are some crucial things to know when buying a home in a new area:

1. Understanding the Local Market

Every real estate market is different, so it's important to understand the dynamics of the area you're moving to. Research average home prices, how quickly homes are selling, and whether the market is trending up or down. This information will help you make a more informed decision and could impact your offer strategy.

2. Neighborhoods Matter

The neighborhood you choose will greatly affect your lifestyle, so take time to explore different areas. Consider factors like proximity to work, schools, and amenities. Spend some time in the neighborhoods you’re interested in at different times of the day to get a feel for the community, noise levels, and traffic.

3. School Districts

If you have children or plan to in the future, the quality of the local school district is a key factor. Even if you don’t have kids, buying in a good school district can be beneficial for resale value. Research school ratings, student-teacher ratios, and extracurricular offerings to ensure the area meets your expectations.

4. Cost of Living

Beyond the price of the home, consider the overall cost of living in the area. This includes property taxes, utility costs, insurance rates, and everyday expenses like groceries and transportation. Understanding these costs will help you budget more effectively and ensure the area is affordable in the long term.

5. Commute and Transportation

Your daily commute is an important consideration. Factor in the distance to your workplace, the availability of public transportation, and traffic patterns. A long or difficult commute can affect your quality of life, so make sure the location is convenient for your needs.

6. Future Development Plans

Research any future development plans in the area. New infrastructure projects, commercial developments, or housing expansions can impact property values and the character of the neighborhood. While some developments can increase property value, others might detract from the appeal of the area.

7. Local Laws and Regulations

Different areas have varying laws and regulations that could affect your purchase. This includes zoning laws, building codes, and homeowner association (HOA) rules. Be sure you understand these before making a purchase to avoid any unexpected complications.

8. Safety and Crime Rates

Safety is a priority when buying a home. Look into crime rates and trends in the area, and consider how safe you feel in the neighborhood. Local police departments often provide crime statistics, or you can use online resources to gather this information.

9. Climate and Weather

The climate and weather patterns of your new area can significantly impact your day-to-day life. Consider how the local weather aligns with your preferences and whether the home is suited to handle it—like insulation for cold winters or air conditioning for hot summers.

10. Access to Healthcare and Services

Proximity to healthcare facilities is crucial, especially if you have specific medical needs. Research the availability of hospitals, clinics, and specialized care in the area. Also, consider access to other essential services like grocery stores, pharmacies, and banks.

11. Community Vibe

The community's vibe can make a big difference in how much you enjoy living in a new area. Attend local events, visit community centers, or talk to potential neighbors to get a sense of the local culture and whether it aligns with your lifestyle.

12. Resale Value

Even if you’re planning to live in the home for many years, consider its potential resale value. Homes in desirable areas with good schools, low crime rates, and convenient amenities tend to hold their value better. This is important if you ever decide to sell or need to move unexpectedly.

Conclusion

Buying a home in a new area involves more than just finding the right property—it’s about ensuring the area fits your lifestyle, needs, and future plans. By considering these important factors, you can make a more informed decision and increase the chances of finding a home where you’ll be happy for years to come. Take your time, do your research, and don’t hesitate to ask for help from a local real estate expert who knows the area well.

The Benefits of Homeownership: More Than Just a Roof Over Your Head

Owning a home is a significant milestone for many people. It represents stability, investment, and a sense of belonging. While renting can be convenient in certain circumstances, the benefits of homeownership far outweigh those of renting in the long run. Here’s a closer look at why owning your own home can be one of the best decisions you’ll ever make.

Building Equity

One of the most significant financial advantages of homeownership is building equity. Equity is the portion of the property that you own outright, and it increases over time as you pay down your mortgage. Unlike renting, where monthly payments contribute to your landlord's equity, owning a home means every payment you make increases your share of the property's value.

Long-Term Financial Stability

Owning a home can provide long-term financial stability. Fixed-rate mortgages offer predictable monthly payments, which can help with budgeting and financial planning. Over time, as you continue to pay down your mortgage, your monthly housing costs can become lower than comparable rent payments, providing a sense of financial security.

Appreciation in Property Value

Real estate generally appreciates over time. This means that the value of your home is likely to increase, providing you with a substantial return on investment. While the market can experience fluctuations, historically, real estate has been a reliable way to grow wealth.

Tax Benefits

Homeownership comes with several tax advantages. Mortgage interest and property taxes can often be deducted from your taxable income, potentially saving you thousands of dollars each year. These deductions can make owning a home more affordable and are a significant incentive for many buyers.

Control Over Your Living Space

As a homeowner, you have complete control over your property. You can renovate, decorate, and make improvements as you see fit, creating a living space that truly reflects your style and needs. This level of control is typically not available to renters, who must adhere to their landlord's rules and restrictions.

Sense of Community and Stability

Homeownership can foster a sense of community and stability. Owning a home often leads to longer stays in one place, allowing you to build relationships with neighbors and become more involved in the local community. This sense of stability is especially beneficial for families, providing children with a consistent environment in which to grow and thrive.

Hedge Against Inflation

Real estate can serve as a hedge against inflation. As inflation rises, the value of your home and the amount of rent you can charge for a rental property are likely to increase as well. This means your investment in real estate can help protect your financial future from the eroding effects of inflation.

Conclusion

While owning a home requires a significant financial commitment and ongoing maintenance, the benefits make it a worthwhile investment. From building equity and financial stability to enjoying tax benefits and a sense of community, homeownership offers numerous advantages that renting simply cannot match. If you’re considering making the leap into homeownership, now might be the perfect time to start exploring your options and reaping the rewards that come with owning your own home.

How to Determine If You're Ready to Buy Your First Home

Buying your first home is an exciting milestone, but it's also a major financial commitment that requires careful consideration. It's important to assess your readiness before diving into the home-buying process. Here are some key factors to consider when determining if you're ready to buy your first home.

1. Financial Stability

Steady Income:

One of the first indicators that you're ready to buy a home is having a stable and reliable income. This ensures you can comfortably manage mortgage payments and other homeownership costs without financial strain.

Savings for a Down Payment:

A significant factor in home buying is the down payment. Most lenders require a down payment of 3-20% of the home's purchase price. Having substantial savings not only covers this cost but also demonstrates financial discipline and readiness.

Emergency Fund:

Homeownership comes with unexpected expenses, such as repairs and maintenance. Having an emergency fund that covers 3-6 months of living expenses can provide a safety net and peace of mind.

2. Credit Health

Good Credit Score:

A good credit score is crucial for securing a favorable mortgage rate. Review your credit report and score to ensure there are no errors and that your credit health is in good standing. Aim for a score of at least 620, though higher scores can qualify you for better interest rates.

Manageable Debt:

Lenders look at your debt-to-income ratio (DTI) to assess your ability to take on a mortgage. Aim for a DTI of 43% or lower, meaning your monthly debt payments should not exceed 43% of your monthly income.

3. Long-Term Commitment

Staying Put:

Consider whether you're ready to stay in one place for at least 5-7 years. Buying a home is a long-term investment, and moving too soon can result in financial loss due to transaction costs and potential market fluctuations.

Future Plans:

Think about your future plans and how they align with homeownership. Factors like career stability, family planning, and lifestyle preferences can influence your readiness to buy a home.

4. Understanding the Costs

Beyond the Mortgage:

Homeownership involves more than just mortgage payments. Be prepared for additional costs such as property taxes, homeowners insurance, maintenance, utilities, and potential homeowner association (HOA) fees.

Affordability:

Use mortgage calculators to determine what you can afford, considering all associated costs. A general rule of thumb is to keep your housing costs (including mortgage, taxes, and insurance) below 28% of your gross monthly income.

5. Knowledge of the Market

Market Conditions:

Understanding the current real estate market conditions can help you make an informed decision. Are home prices rising or falling? Is it a buyer’s or seller’s market? Researching these factors can guide your timing and expectations.

Professional Guidance:

Consider consulting with a real estate agent who can provide insights into the local market, help you find suitable properties, and guide you through the buying process.

6. Emotional Readiness

Responsibility:

Homeownership comes with responsibilities that renting does not. Are you prepared to handle repairs, maintenance, and the overall management of your property?

Determining if you're ready to buy your first home involves assessing your financial stability, credit health, long-term plans, understanding of costs, market knowledge, and emotional readiness. Homeownership is so exciting, and can help build generational wealth. If you have any questions or need personalized advice on what's best for your timeline, consider reaching out to a trusted real estate professional who can help guide you through the process. Happy house hunting!

How To Build Generational Wealth Through Real Estate!

Building generational wealth is a cornerstone of financial security and prosperity, ensuring that our future generations have the resources and opportunities to thrive. Real estate is one of the most effective and reliable means of creating and preserving wealth over time. Here’s why it’s important and how you can start building generational wealth through real estate.

The Importance of Building Generational Wealth Through Real Estate:

1. Stability and Security

• Real estate provides a stable investment that is less volatile than stocks and other securities. Property values tend to appreciate over time, offering long-term security and a hedge against inflation.

2. Consistent Income

• Rental properties generate steady, passive income, which can support your family financially and offer a reliable revenue stream for future generations.

3. Appreciation and Equity

• As properties appreciate in value, your equity grows. This equity can be leveraged to purchase additional properties, further expanding your wealth.

4. Tax Benefits

• Real estate investors enjoy numerous tax advantages, including deductions for mortgage interest, property taxes, and depreciation. These benefits can significantly enhance your overall returns.

5. Legacy Building

• Real estate provides a tangible asset that can be passed down to your heirs, ensuring they have a valuable resource to support their financial well-being.

How to Build Generational Wealth Through Real Estate:

1. Start with a Plan

• Establish clear goals for your real estate investments. Determine the types of properties you want to invest in, the locations, and your timeline for growth.

2. Educate Yourself

• Knowledge is crucial in real estate investing. Read books, attend seminars, follow industry blogs, and find a Realtor you can trust!

3. Invest in Rental Properties

• Rental properties are an excellent way to generate ongoing income. Choose properties in high-demand areas where rental income can cover your mortgage and other expenses, leaving you with a profit.

4. Leverage Financing

• Use mortgages to your advantage by acquiring more properties with less cash. Be cautious of over-leveraging, and ensure your properties generate positive cash flow.

5. Focus on Appreciation

• Invest in areas with strong economic growth and good quality of life, which typically see higher appreciation rates. Holding properties long-term allows you to benefit from this appreciation.

6. Effective Property Management

• Properly managing your properties is essential for maintaining their value and ensuring a steady income. Whether you do it yourself or hire a management company, keep properties well-maintained and tenants satisfied.

7. Utilize Tax Benefits

• Take advantage of the tax deductions available to real estate investors. Work with a tax advisor to ensure you're maximizing these benefits and keeping more of your earnings.

8. Reinvest Your Profits

• Use the income and equity from your properties to buy more real estate. This reinvestment strategy will help grow your portfolio and increase your wealth over time.

9. Estate Planning

• Set up legal structures like trusts and wills to ensure your real estate assets are passed down smoothly. Consult with an estate planner to minimize tax liabilities and ensure your wealth is preserved for future generations.

  Building generational wealth through real estate is a powerful strategy that offers stability, income, appreciation, and significant tax benefits. By starting with a clear plan, educating yourself, and strategically investing and managing properties, you can create a lasting legacy of financial security for your family. With careful planning and smart investments, real estate can provide the foundation for generational wealth that supports your loved ones for years to come.

Two of the Best Days of the Year to Sell Your House Are in the Last Week of May

Most home sellers want to sell their house for as much money as possible. So, if you’ve been thinking about selling your house, you’d probably love it if you (or your agent) could predict the perfect day to sell your house in order to do that.

Well, you’re in luck!

ATTOM Data Solutions has analyzed more than 59 million single-family home and condo sales that occurred between 2011 to 2023, and have found that two of the best days of the year to sell a house are in the month of May.

According to their data, the sixth best day of the year to sell a house is on May 25th, netting sellers a 15.1 percent premium. And the absolute best day of the year is two days later, on May 27th, with a 16.2 percent premium.

Couple those statistics with the currently low number of houses for sale in many areas, and that may make this the perfect time to sell your house.

When Should You List in Order to Sell on One of Those Days?

Perfectly timing the real estate market in an overall sense is almost impossible, but even with these statistical insights, it’s pretty difficult to pinpoint the exact day you should actually list your house for sale. Does it make sense to hit the market exactly on the 25th or 27th? A week before? Two weeks ahead of those dates?

The answers to those questions are really better answered by your local agent. The average amount of time it takes to get a house under contract varies from one area to another, and even from one price range to another in any given area. So you’d need to drill down into how long it’s taking between the day a house in your price range gets listed, to the day they typically accept an offer in order to back into an appropriate day to list your property for sale.

But generally speaking, in most areas and markets, if you price your house appropriately, houses are still selling readily — so it’s possible to list your house and get it under contract in a week or two.

That said, it can take some time to get your house ready to be listed for sale. There’s a lot to do between deciding to list your house and actually having it on the market, such as:

• You’ll need time to prep your house. At the least you should give it a good cleaning. But you may also need to do some repairs or touch-ups. If you have a lot of belongings, some decluttering may also be in order.

• It may make sense to have your house professionally staged, in order for it to show as well as possible. It can take time for a professional stager or real estate agent to properly stage a home.

• Professional photography will need to be taken inside and outside of the house, and then edited.

• Once all of that is done, your agent will need to create all of the marketing they employ to build maximum interest the minute the listing hits the market.

So, while you have some time to play with, if you’re trying to capitalize on the two best days to sell, you need to get the ball rolling immediately.

What if You Get an Offer Before One of Those Days?

No matter how much you dig into the local statistics and try to time the day you list perfectly, there’s a chance you’ll get an offer before May 25th or 27th. Should you hold off on accepting offers until those specific days? Honestly, no.

Let’s say that, on average, it takes about 2 weeks to get a house in your price range under contract in your area, so you decide to list on May 11th. But rather than it taking two weeks, you get a great offer (or multiple offers) within the first few days of it being on the market. Trying to hold off on accepting one of them until the 25th or 27th, just to see if you get a better offer on one of those two dates, is probably going to produce the opposite results. Your initial buyers would likely lose patience and interest over that amount of time, and may even reduce or rescind their offer.

To make matters worse, you’d probably end up realizing that they were the best buyers and offers you’ll see. It isn’t like those dates are magical and an unknown buyer will appear out of thin air with a better offer.

As much as the current data is true, it also changes from year to year. Back in 2021, that same company said that the five best dates to sell on were May 16th, 19th, 20th, 23rd and 27th and the 23rd was the best day of the bunch.

The point is, those aren’t dates set in stone, so don’t put more stock in statistics than the actual offers you have to consider.

But, if you’ve been thinking about selling, statistically speaking, the next couple of weeks are as good a time as any to list your house for sale!

WHY USING A LICENSED REALTOR® TO BUY A HOME IS A MUST!

Navigating the process of purchasing a home can be both exhilarating and overwhelming. Many prospective buyers find themselves questioning the need for a realtor in an age of online listings and DIY resources. However, the advantages of partnering with a skilled real estate professional extend far beyond what meets the eye. Here's why having a realtor by your side is a game-changer:

1. Market Expertise:

In the world of real estate, a realtor is your local expert. They possess in-depth knowledge of neighborhoods, market trends, and property values. This expertise enables them to guide you to the best-suited areas, ensuring your investment aligns with your lifestyle and future goals.

2. Access to Exclusive Listings:

Realtors have access to a vast network and exclusive listings that may not be publicly available. This access gives you a competitive edge, increasing the likelihood of discovering hidden gems and securing your dream home before it hits the general market.

3. Negotiation Prowess:

Negotiating the terms of a real estate transaction requires finesse and experience. A realtor acts as your advocate, skillfully navigating negotiations to secure the best possible deal. Their knowledge of market dynamics and local pricing trends is an invaluable asset in ensuring you get the most value for your investment.

4. Legal Protection and Paperwork Precision:

Real estate transactions involve a substantial amount of legal paperwork. A realtor is well-versed in these complexities, ensuring that all documents are accurately completed and compliant with current regulations. This not only provides legal protection but also streamlines the entire process.

5. Strategic Guidance from Start to Finish:

From the initial search to closing day, a realtor provides strategic guidance at every step. They assist with property viewings, offer insights into potential concerns, and coordinate inspections. Their role is not just about finding a property but ensuring a smooth and successful journey to homeownership.

6. Time and Stress Savings:

Buying a home can be time-consuming and stressful, especially without the right guidance. A realtor takes on the legwork, conducting research, scheduling viewings, and handling negotiations, allowing you to focus on what matters most – finding the perfect home for you.

7. Professional Network:

Realtors have an extensive network of professionals, including inspectors, lenders, and contractors. This network ensures that any issues that arise during the buying process can be promptly addressed by trusted experts.

Having a realtor by your side is not just a choice; it's a strategic advantage. Their expertise, access to exclusive listings, negotiation skills, and commitment to your success make them an indispensable ally in your home buying journey. When it comes to making one of the most significant investments of your life, partnering with a realtor is the key to unlocking success.

Navigating Selling a Home:

Deciding to sell your home can feel a bit overwhelming, after all it’s a big decision but the start of a very exciting journey! That is why having a seasoned REALTOR® that knows the area is the key to a successful and stress-free selling experience. Here's why having a REALTOR® by your side is more important than you might think:

Expert Guidance Through the Entire Process: Selling a home involves navigating paperwork, legalities, and negotiations. A skilled REALTOR® acts as your guide, offering expert insights, explaining intricate details, and ensuring a seamless process from start to finish. There are many things an average buyer and seller may not know or think about when selling a home, as your realtor we are here to help guide you to the best possible outcome! 

How to know what your home is worth: Determining the right asking price is a delicate balance. If you set the price too high, your property may linger on the market; if you set it too low, you risk undervaluing your home. REALTORS® possess in-depth market knowledge, allowing them to accurately assess your property's value and set a competitive yet attractive price for buyers. 

Knowing how to Market a property: A REALTOR® brings a wealth of marketing expertise to the table. From professional photography, professional staging, and compelling property descriptions to targeted online and offline strategies, REALTORS® know how to showcase your home in its best light, reaching potential buyers! This is a crucial part of selling your home that many may overlook! We believe with expert marketing, oftentimes you can get more from your home! 

The Power of Negotiation: Negotiating the best deal requires loads of knowledge and experience. REALTORS® are skilled negotiators who can navigate tricky waters, ensuring you get the best possible terms and conditions. Their goal is to secure a deal that meets your needs and maximizes your financial outcome.

Helps save you TIME: Selling a home demands time and effort. A REALTOR® takes on the heavy lifting, allowing you to focus on what matters most to you. From coordinating showings to handling inquiries and paperwork, their efficiency streamlines the entire process.

Access to a Network of Professionals We Trust: REALTORS® have a large network of trusted professionals—inspectors, contractors, mortgage brokers, and more. This network ensures that any issues that arise can be swiftly and expertly addressed, keeping the selling process on track with individuals we trust and have experience with! 

Emotional Support: Selling a home can be an emotional journey. A REALTOR® not only provides practical guidance but also offers a supportive presence. They understand the nuances of the process and are there to guide you through challenges with a steady hand and loads of experience with situations like yours! 

Making the decision to sell your home is a significant one, and having a REALTOR® on your team can make all the difference. From setting the right price, to professional marketing, navigating negotiations, and providing a guiding hand through it all! If you have any more questions or want to know more about what we can provide you as your agent, reach out! We are here for YOU!

Navigating The Future

Navigating the Future: What to Expect in the Real Estate Market in 2024 

As the real estate industry continues to evolve, looking ahead to 2024 sparks curiosity and anticipation… What trends, shifts, and opportunities will define the market in the coming year? Will there be a market crash? Will interest rates drop? Is now a good time to buy and sell? Well…. we are so glad you landed here and we will answer all your questions below! 

In 2023 we experienced higher mortgage rates, rising home prices, and a lot of sellers and buyers sitting on the sidelines waiting for them to drop. Well.. 2024 brings some good news! We will see the mortgage rates slowly start to go down… and excitingly enough this is no surprise and we are already experiencing this now! 

We will see more people list their homes for sale! This is important because we have had a major shortage in inventory for quite some time now! We still do not have enough housing for our population, so this is key as we level out the market for both buyers and sellers. 

Homeowners are outgrowing their living spaces pushing them to want to move. The reluctance to give up a low mortgage interest rate for a higher one is fading away. People who need a larger home, would like to move closer to family, or any other reason.. and there's MANY, will finally make the decision to move. With mortgage interest rates declining, it will feel more feasible to trade out a 2% or 3% mortgage for a 5% to 6% mortgage. We are in need of more inventory so this is definitely good news! 

Homebuyers are coming in HOT! We will also see more buyers purchasing properties. Who are all these buyers… they are the MILLENNIALS! You may ask why, and this is because the average age to buy your first home is 35 years old. Millennials have the largest number of people we have ever experienced at one time coming up on this age. In fact, there are over 45 million millennials and we expect many of them will be purchasing their first property in the next upcoming years.

So you may be asking yourself what this means for home prices? While we do not hold a crystal ball, we do expect the prices will steadily rise. We likely will not see the chaos we saw in 2020, but with lower interest rates and a surge in eager buyers, brace yourself for more competitive bidding situations and push in both prices and property values. 

That leaves us with the anticipation of lower mortgage interest rates, a surge in home listings, the resolution of the trade-in dilemma, the rise of Millennial homebuyers, and the expectation of rising home prices create a canvas of exciting possibilities for the year ahead! 

Together, we can navigate all of what’s to come in 2024, and we're here to guide you through it! 

Here's to a year of exciting real estate adventures, and many more blog posts to navigate and learn each step of the way!