Invest in Yourself by Owning a Home Are you wondering if it makes sense to buy a home right now? While today’s mortgage rates might seem a bit intimidating, here are two compelling reasons why it still may be a good time to become a homeowner. Home Values Appreciate over Time There’s been a lot of confusion around what’s happened with home prices over the past two years. While they did dip ever so slightly in late 2022, this year they’ve been appreciating at a more normal pace, which is good newsfor the housing market. And while looking at price movement over just a year or two can make you worry prices are usually this unpredictable, history shows in the long run, home values rise (see graph below):     Using data from the Federal Reserve for the past 60 years, you can see the overall trend is home prices have climbed quite steadily. Sure, there was an exception around the housing crash of 2008 that caused prices to break the usual trend for a time, but overall, home values have been consistently on the rise. Increasing home values is one great reason why buying may make more sense than renting. As prices rise, and as you pay down your mortgage, you build equity. Over time, that growing equity gives your net worth a boost. Rent Keeps Going Up Through the Years Another reason you may want to consider buying a home instead of renting is the never-ending rent hike. If you've ever felt the pinch of rent increasing year after year, you're not alone. That’s because, rents have climbed steadily over the past six decades (see graph below): By buying a home, you can lock in your monthly housing costs and bid farewell to those pesky rent hikes. That stability is a game-changer. In the end, it all boils down to this: your housing payments are an investment, and you've got a choice to make. Do you want to invest in yourself or your landlord? By becoming a homeowner, you're investing in your own future. When you rent, that’s money you never get back. When you factor in home values consistently rising, plus the opportunity to get relief from never-ending rent hikes, homeownership can be a path to financial security. As Dr. Jessica Lautz, Deputy Chief Economist and VP of Research at the National Association of Realtors (NAR), states:  “If a homebuyer is financially stable, able to manage monthly mortgage costs and can handle the associated household maintenance expenses, then it makes sense to purchase a home.” Bottom Line When it comes down to it, buying a home offers more benefits than renting, even when mortgage rates are high. If you want to avoid increasing rents and take advantage of long-term home price appreciation, let’s connect to go over your options.

A Real Estate Agent Helps Take the Fear Out of the Market Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn't easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says: “In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.” But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You should lean on a trusted real estate agent to help you separate fact from fiction and get the answers you need. That agent will use their knowledge of what’s really happening with home prices, housing supply, expert forecasts, and more to give you the best possible advice. The National Association of Realtors (NAR) explains: “. . . agents combat uncertainty and fear with a combination of historical perspective, training and facts.” The right agent will help you figure out what’s going on at the national level and in your local area. They’ll debunk headlines using data you can trust. Plus, they have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more. Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision. After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in. Bottom Line If you need reliable information about the housing market and expert advice about your own move, let’s connect.

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Why Home Prices Keep Going Up If you've ever dreamed of buying your own place, or selling your current house to upgrade, you're no stranger to the rollercoaster of emotions changing home prices can stir up. It's a tale of financial goals, doubts, and a dash of anxiety that many have been through. But if you put off moving because you’re worried home prices might drop, make no mistake, they’re not going down. In fact, it's just the opposite. National data from several sources says they’ve been going up consistently this year (see graph below):     Here’s what this graph shows. In the first half of 2022, home prices rose significantly (the green bars on the left side of the graphs above). Those increases were dramatic and unsustainable. So, in the second half of the year, prices went through a correction and started dipping a bit (shown in red). But those slight declines were shallow and short-lived. Still, the media really focused on those drops in their headlines – and that created a lot of fear and uncertainty among consumers. But here’s what hasn’t been covered fully. So far in 2023, prices are going up once more, but this time at a more normal pace (the green bars on the right side of the graphs above). And after price gains that were too high and then the corrections that followed in 2022, the fact that all three reports show more normal or typical price appreciation this year is good news for the housing market. Orphe Divounguy, Senior Economist at Zillow, explains changing home prices over the past 12 months this way:  “The U.S. housing market has surged over the past year after a temporary hiccup from July 2022-January 2023. . . . That downturn has proven to be short lived as housing has rebounded impressively so far in 2023. . .” Looking ahead, home price appreciation typically starts to ease up this time of year. As that happens, there’s some risk the media will confuse slowing price growth (deceleration of appreciation) with home prices falling (depreciation). Don’t be fooled. Slower price growth is still growth. Why Are Home Prices Increasing Now? One reason why home prices are going back up is because there still aren't enough homes for sale for all the people who want to buy them. Even though higher mortgage rates cause buyer demand to moderate, they also cause the supply of available homes to go down. That’s because of the mortgage rate lock-in effect. When rates rise, some homeowners are reluctant to sell and lose their current low mortgage rate just to take on a higher one for their next home. So, with higher mortgage rates impacting both buyers and sellers, the supply and demand equation of the housing market has been affected. But since there are still more people who want to purchase homes than there are homes available to buy, prices continue to rise. As Freddie Mac states:  “While rising interest rates have reduced affordability—and therefore demand—they have also reduced supply through the mortgage rate lock-in effect. Overall, it appears the reduction in supply has outweighed the decrease in demand, thus house prices have started to increase . . .” Here’s How This Impacts You Buyers: If you've been waiting to buy a home because you were afraid its value might drop, knowing that home prices have gone back up should make you feel better. Buying a home gives you a chance to own something that usually becomes more valuable over time. Sellers: If you've been holding off on selling your house because you were worried about how changing home prices would impact its value, it could be a smart move to work with a real estate agent and put your house on the market. You don't have to wait any longer because the most recent data indicates home prices have turned in your favor. Bottom Line If you put off moving because you were worried that home prices might go down, data shows they’re increasing across the country. Let’s connect so you can understand how home prices are changing in our local area.

The Risks of Selling Your House on Your Own Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there's a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it's important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains: “Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.” Here’s a bit more information on just a few of those things and how you may miss out if you don’t use an agent. You May Not Price it Right Pricing your house right is key to a successful sale. Real estate agents have experience navigating this housing market and understand the art of pricing a home to sell today. Unfortunately, homeowners who sell on their own often lack this all-important experience. That can lead to two common consequences: overpricing or underpricing the house. An article from Nerd Wallet offers this advice: “If your home is overpriced, you run the risk of buyers not seeing the listing. . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house.” Don’t run this risk. Instead, partner with an agent to make sure your house is priced at current market value, so it catches the eyes of eager buyers. This will put your house in a position to make the best first impression possible. You Don’t Have as Much Experience in Marketing a House In this digital age, online marketing has become a real game-changer, especially when it comes to selling your house. A recent report from the National Association of Realtors (NAR), explains: “Among all generations of home buyers, the first step taken in the home search process was to look online for properties.” When you partner with a real estate agent who knows how to take advantage of online marketing tools and resources, you'll be able to get in front of these tech-savvy house hunters, boosting your chances of a successful sale. But, if you're attempting to sell your house on your own, you might find yourself missing out on the full power of online and social media strategies. You May Not Be Comfortable Handling All the Back-and-Forth When you decide to sell your house, you're not just on a quest to find a buyer; you're also stepping into a world of negotiations. You’ll have to coordinate with a bunch of people, including the buyer, the buyer’s agent, the inspection company, the appraiser, and more. It's a dance where every move counts, and the expertise of a real estate agent can make a world of difference in keeping these negotiations on track and sealing the deal. As NerdWallet says: “Your listing agent will also, of course, be on your side throughout negotiations. They'll double-check paperwork that comes through, communicate with the buyer's agent and other parties to the sale, and generally stay on top of things through to closing day.” Bottom Line If you're thinking about selling your house and the idea of going it alone has crossed your mind, be sure to think through that decision carefully. Let's connect to discuss how a real estate agent has the experience needed to take all that stress off your plate.

Are More Homes Coming onto the Market? An important factor shaping today’s market is the number of homes for sale. And, if you’re considering whether or not to list your house, that’s one of the biggest advantages you have right now. When housing inventory is this low, your house will stand out, especially if it’s priced right. But there are some early signs that more listings are coming. According to the latest data, new listings (homeowners who just put their house up for sale) are trending up. Here’s a look at why this is noteworthy and what it may mean for you. More Homes Are Coming onto the Market than Usual It’s well known that the busiest time in the housing market each year is the spring buying season. That’s why there’s a predictable increase in the volume of newly listed homes throughout the first half of the year. Sellers are anticipating this and ramping up for the months when buyers are most active. But, as the school year kicks off and as the holidays approach, the market cools. It’s what’s expected. But here’s what’s surprising. Based on the latest data from Realtor.com, there’s an increase in the number of sellers listing their houses later this year than usual. A peak this late in the year isn’t typical. You can see both the normal seasonal trend and the unusual August in the graph below:As Realtor.com explains: “While inventory continues to be in short supply, August witnessed an unusual uptick in newly listed homes compared to July, hopefully signaling a return in seller activity heading toward the fall season . . .” While this is only one month of data, it’s unusual enough to note. It’s still too early to say for sure if this trend will continue, but it’s something you’ll want to stay ahead of if it does. What This Means for You If you’ve been putting off selling your house, now may be the sweet spot to make your move. That’s because, if this trend continues, you’ll have more competition the longer you wait. And if your neighbor puts their house up for sale too, it means you may have to share buyers’ attention with that other homeowner. If you sell now, you can beat your neighbors to the punch. But, even with more homes coming onto the market, the market is still well below normal supply levels. And, that inventory deficit isn’t going to be reversed overnight. The graph below helps put this into context, so you can see the opportunity you still have now: Bottom Line Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. You still have an incredible opportunity if you sell your house today. Let’s connect to explore the benefits of selling now before more homes come to the market.

Whew! That was quick! List to accepted offer in less than 24 hours. Closed in two weeks! 29 Concord Ave, Unit 512 in Cambridge, Ma. SOLD for more than asking! We can sell your home too! Contact Channing Real Estate today! blchanning@gmail.com

Today’s Housing Inventory Is a Sweet Spot for Sellers One of the biggest challenges in the housing market right now is how few homes there are for sale compared to the number of people who want to buy them. To help emphasize just how limited housing inventory still is, let’s take a look at the latest information on active listings, or homes for sale in a given month, as it compares to more normal levels. According to a recent report from Realtor.com:   “On average, active inventory in June was 50.6% below pre-pandemic 2017–2019 levels.” The graph below helps illustrate this point. It uses historical data to provide a more concrete look at how much the numbers are still lagging behind the level of inventory typical of a more normal market (see graph below): It’s worth noting that 2020-2022 are not included in this graph. That’s because they were truly abnormal years for the housing market. To make the comparison fair, those have been omitted so they don’t distort the data. When you compare the orange bars for 2023 with the last normal years for the housing market (2017-2019), you can see the count of active listings is still far below the norm. What Does This Mean for You?  If you’re thinking about selling your house, that low inventory is why this is a great time to do so. Buyers have fewer choices now than they did in more normal years, and that’s continuing to impact some key statistics in the housing market. For example, sellers will be happy to see the following data from the latest Confidence Index from the National Association of Realtors (NAR): The percent of homes that sold in less than a month ticked up slightly to 74%.  The median days on market went down to 18 days, showing homes are still selling fast when priced right.  The average number of offers on recently sold homes went up to 3.3 offers. Bottom Line When supply is so low, your house is going to be in the spotlight. That’s why sellers are seeing their homes sell a little faster and get more offers right now. If you’ve thought about selling, now’s the time to make a move. Let’s connect to get the process started.

 Helping YOU find the I.D.E.A.L homeContact Bill Luther today bill@channingrealestate.comAnywhere in Massachusetts

Need an experienced agent to sell your home?  Contact Bill Luther 617-818-5040 and/or: blchanning@gmail.comCambridge and all of MassachusettsContact Bill Luther 617-818-5040 and/or: blchanning@gmail.comCambridge and Greater Boston, Massachusetts

 This sunny one bedroom condo home is steps to bus stops, The T, Harvard University and a short pleasant stroll to Harvard Square. With a walk score of 88 and biker’s score of 100, you'll enjoy ideal urban living with style! Welcome home to 29 Concord Ave. Cambridge, Ma Click here: .https://tinyurl.com/ynmtuupa Call Bill Luther to see! (617) 818-5040

IN THE WORLD OF REAL ESTATE INVESTING , THERE’S A SAYING: “BE FEARFUL WHEN OTHERS ARE GREEDY, AND GREEDY WHEN OTHERS ARE FEARFUL.”   With real estate markets in a state of flux due to the ongoing effects of the global pandemic and economic uncertainties, now could be the perfect time for savvy investors to ‘get greedy’ and seize the opportunity to build wealth through real estate . Here’s why you should consider doing so.   INTEREST RATES ARE STILL AT HISTORICALLY LOW LEVELS While interest rates may seem high to you compared to a few years ago they remain historically low. Interest rates continue to be a driving factor in the real estate market, making it affordable for investors to secure financing for their purchases. These rates can translate to advantagious monthly mortgage payments, potentially increasing the profitability of rental properties. Moreover, locking in a fixed-rate mortgage now can protect you against future interest rate increases.   PROPERTY VALUES ARE EXPECTED TO APPRECIATE While the real estate market has its ups and downs, the long-term trend has generally been upward. Investing in real estate now can give you the opportunity to benefit from property appreciation over time. As home values increase, so does your equity, allowing you to leverage that equity for future investments or tap into it for other financial needs.   DIVERSIFICATION OF YOUR INVESTMENT PORTFOLIO Diversifying your investments across different asset classes can help mitigate risk. Real estate, as a tangible asset, tends to behave differently from stocks and bonds, providing a hedge against volatility in other markets. By including real estate in your investment portfolio, you can benefit from the stability and potential returns it offers.   TAX ADVANTAGES Real estate investments come with several tax benefits. You can deduct mortgage interest, property taxes, and operating expenses related to your investment properties. Additionally, you can benefit from depreciation, which allows you to write off a portion of the property’s value over time, reducing your taxable income. When it comes time to sell, you may also be able to defer capital gains taxes through strategies like a 1031 exchange.   PASSIVE INCOME AND CASH FLOW Investing in rental properties can provide a steady stream of passive income, helping to increase your cash flow and financial stability. By carefully selecting properties in desirable locations with strong rental demand, you can enjoy consistent rental income that covers your expenses and generates a profit.   FORCED APPRECIATION AND VALUE-ADD OPPORTUNITIES Unlike stocks and bonds, real estate allows you to directly influence the value of your investment. By making strategic improvements to your properties, such as renovations or adding amenities, you can increase their value and rental income potential. This forced appreciation can significantly boost your return on investment.   BUILDING LONG-TERM WEALTH Real estate investing is a long-term endeavor that can help you build lasting wealth. Over time, as your properties appreciate and your mortgage balances decrease, your equity and net worth will grow. By reinvesting your profits and acquiring more properties, you can take advantage of the compounding effect, multiplying your wealth over time. Given the potential for long-term appreciation, now is a prime time to ‘get greedy’ and invest in real estate. However, as with any investment, it’s essential to do your research and carefully evaluate your options.   By making informed decisions, you can capitalize on the current market conditions and set yourself up for financial success in the years to come.   GET MORE INFORMATION William Luther Broker | License ID: 130964 +1(617) 818-5040   Name Email* Phone* Message CHANNING REAL ESTATE William Luther +1(617) 818-5040blchanning@gmail.com License ID: 130964 1776 Massachusetts Ave, Cambridge, MA 02140

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 Is and How It Works Equity is the current value of your home minus what you owe on the loan. And recently, that equity has been growing far faster than you may expect. Over the last few years, home prices rose dramatically, and that gave your equity a big boost very quickly. While the market has started to normalize, there’s still an imbalance between the number of homes available for sale and the number of buyers looking to make a purchase. And it’s because homes are in such high demand that prices are back on the rise today. Rob Barber, CEO of ATTOM, a property data provider, explains: “Equity levels were high even during the recent downturn, and now they are going back up and better than ever.” How Equity Benefits You in Today’s Market With today’s affordability challenges, that equity can be a game changer when you move. Here’s why. Based on data from ATTOM and the Census, nearly two-thirds (68.7%) of homeowners have either paid off their mortgages or have at least 50% equity (see chart below): That means roughly 70% have a tremendous amount of equity right now. Once you sell your house, you can use your equity to help with your next purchase. It could be some (if not all) of what you’ll need for your next down payment. It may even be enough to allow you to put a considerably larger down payment on your next home, so you don’t have to finance quite as much. And, if you’ve been in your current house for years, you may have even built up enough equity to pay in all cash. If that’s true for you, you’d be able to avoid borrowing altogether, so you wouldn’t have to worry about today’s mortgage rates. How To Find Out How Much Equity You Have The best way to learn how much you have is to reach out to a trusted real estate agent for a Professional Equity Assessment Report (PEAR). Bottom Line If you’re planning to make a move, the equity you’ve gained can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect.

Tips for Making Your Best Offer on a Home While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know that the peak frenzy of bidding wars is in the rearview mirror, but you may still come up against some multiple-offer scenarios. Here are a few things to consider to help you put your best foot forward when making an offer on a home. 1. Lean on a Real Estate Professional Rely on an agent who can support your goals and help you understand what’s happening in today’s housing market. Agents are experts in the local market and on the national trends too. They’ll use both of those areas of expertise to make sure you have all the information you need to move with confidence. Plus, they know what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out. As an article from Forbes says: "Getting to know a local realtor where you’re hoping to buy can also potentially give you a crucial edge in a tight housing market." 2. Get Pre-Approved for a Home Loan Having a clear budget in mind is especially important right now given the current affordability challenges. The best way to get a clear picture of what you can borrow is to work with a lender so you can get pre-approved for a home loan. That’ll help you be more financially confident because you’ll have a better understanding of your numbers. It shows sellers you’re serious, too. And that can give you a competitive edge if you do get into a multiple-offer scenario. 3. Make a Fair Offer It’s only natural to want the best deal you can get on a home. However, submitting an offer that’s too low does have some risks. You don’t want to make an offer that will be tossed out as soon as it’s received just to see if it sticks. As Realtor.com explains: “. . . an offer price that’s significantly lower than the listing price, is often rejected by sellers who feel insulted . . . Most listing agents try to get their sellers to at least enter negotiations with buyers, to counteroffer with a number a little closer to the list price. However, if a seller is offended by a buyer or isn’t taking the buyer seriously, there’s not much you, or the real estate agent, can do.” The expertise your agent brings to this part of the process will help you stay competitive and find a price that’s fair to you and the seller. 4. Trust Your Agent’s Expertise Throughout Negotiations During the ‘unicorn’ years of housing, some buyers skipped home inspections or didn’t ask for concessions from the seller in order to submit the winning bid on a home. An article from Bankrate explains this isn’t happening as often today, and that’s good news: “While the market has largely calmed down since then, sellers are still very much in the driver’s seat in this era of scarce housing inventory. It’s not as common for buyers to waive inspections anymore, but it does still happen. . . . It’s in the buyer’s best interest to have a home inspected . . .Inspections alert you to existing or potential problems with the home, giving you not just an early heads up but also a useful negotiating tactic.” Fortunately, today’s market is different, and you may have more negotiating power than before. When putting together an offer, your trusted real estate advisor will help you think through what levers to pull and which ones you may not want to compromise on. Bottom Line When you buy a home this summer, let’s connect so you have an expert on your side who can help you make your best offer.

Two Questions To Ask Yourself if You’re Considering Buying a Home If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting at the local supermarket, the list goes on and on. Most likely, home prices and mortgage rates are coming up a lot.  To help cut through the noise and give you the information you need most, take a look at what the data says. Here are the top two questions you need to ask yourself about home prices and mortgage rates as you make your decision:  1. Where Do I Think Home Prices Are Heading? One reliable place you can turn to for that information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists.  According to the latest release, the experts surveyed are projecting slight depreciation this year (see the red in the graph below). But here’s the context you need most. The worst home price declines are already behind us, and prices are actually appreciating again in many markets. Not to mention, the small 0.37% depreciation HPES is showing for 2023 is far from the crash some people originally said would happen. Now, let’s look to the future. The green in the graph below shows prices have turned a corner and are expected to appreciate in 2024 and beyond. After this year, the HPES is forecasting home price appreciation returning to more normal levels for the next several years. So, why does this matter to you? It means your home will likely grow in value and you should gain home equity in the years ahead, but only if you buy now. If you wait, based on these forecasts, the home will only cost you more later on.   2. Where Do I Think Mortgage Rates Are Heading? Over the past year, mortgage rates have risen in response to economic uncertainty, inflation, and more. We know based on the latest reports that inflation, while still high, has moderated from its peak. This is an encouraging sign for the market and for mortgage rates. Here’s why. When inflation cools, mortgage rates generally fall in response. This may be why some experts are saying mortgage rates will pull back slightly over the next few quarters and settle somewhere around roughly 5.5 and 6% on average. But, not even the experts can say with absolute certainty where mortgage rates will be next year, or even next month. That’s because there are so many factors that can impact what happens. So, to give you a lens into the various possible outcomes, here’s what you should consider: If you buy now and mortgage rates don’t change: You made a good move since home prices are projected to grow with time, so at least you beat rising prices. If you buy now and mortgage rates fall (as projected): You probably still made a good decision because you got the house before home prices appreciated more. And, you can always refinance your home later on if rates are lower. If you buy now and mortgage rates rise: If this happens, you made a great decision because you bought before both the price of the home and the mortgage rate went up. Bottom Line If you’re thinking about buying a home, you need to know the facts on what’s happening with home prices and mortgage rates. While no one can say for certain where they’ll go, expert projections can give you powerful information to keep you informed. Let’s connect so you have a professional to add in an expert opinion on our local market.

Why Buying a Home Is a Sound Decision If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment. This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow. Home Price Appreciation in the Years Ahead Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report indicates what they believe will happen with home prices over the next five years. As the graph below shows, after mild depreciation this year, these experts forecast home prices will return to more normal levels of appreciation through 2027. The big takeaway is experts aren’t forecasting a drastic fall in home prices nationally, even though some markets will see home price appreciation while others may depreciate. And when they look further out, they see steady price appreciation in the long run. That’s a great example of why homeownership wins over time. What Does This Mean for You? Once you buy a home, price appreciation raises your home’s value, and that grows your household wealth. Here’s how a typical home’s value could change over the next few years using the expert price appreciation projections from the survey mentioned above (see graph below): In this example, if you bought a $400,000 home at the beginning of this year and factor in the forecast from the HPES, you could accumulate over $54,000 in household wealth over the next five years. So, if you’re wondering if buying a home is a sound decision, keep in mind what a strong wealth-building tool it is long term. Bottom Line According to the experts, while we may see slight depreciation this year, home prices are expected to grow over the next five years. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) are projected to grow. Let’s connect to begin the homebuying process today.

The Benefits of Selling Now, According to Experts If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house. Here’s what industry experts are saying about why selling now has its benefits: Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):   “Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.” Selma Hepp, Chief Economist at CoreLogic:   “We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to heighten market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely.” Clare Trapasso, Executive News Editor at Realtor.com:   “Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .” Jeff Tucker, Senior Economist at Zillow:   “. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.” Bottom Line If you’re thinking about selling your house, let’s connect so you have the expert insights you need to make the best possible move today. 

Why Buying or Selling a Home Helps the Economy and Your Community If you're thinking about buying or selling a house, it's important to know that it doesn't just affect your life, but also your community. The National Association of Realtors (NAR) releases a report every year to show how much economic activity is generated by home sales. The chart below illustrates that impact: As the visual shows, when a house is sold, it can make a big difference in the local economy. The impact comes largely from the workers required to build, update, and buy and sell homes. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), explains how the housing industry adds jobs to a community: “The economic impact means housing is a significant job creator. In fact, for every single-family home built, enough economic activity is generated to sustain three full-time jobs for a year, per NAHB research. . . . And one job for every $100,000 in remodeling spending.”  Housing being a major job creator makes sense when you consider there are many different industries involved in the process. A recent article from Fortune notes housing activity could have a more robust impact than you think due to the many ways it’s tied to the economy: “Housing has three direct linkages to economic activity (GDP): the construction of new homes, the remodeling of existing homes, and that of housing transactions. . . . consider the activity associated with home sales – think broker fees, lawyers, etc. – which are a sizable contributor to housing’s GDP footprint.”  When you buy or sell a home, you work with a team of professionals, including contractors, specialists, lawyers, and city officials. Each person plays a role in making the transaction happen.  So, when you make a move in the housing market, you're not just meeting your own needs, you're also making a positive impact on the community. Knowing this can give you a sense of empowerment as you make your decision this year. Bottom Line Each and every home sale is important for the local economy. If you’re ready to move, let’s connect. It won’t just change your life – it’ll also have a strong positive effect on the whole community.

The True Value of Homeownership Buying and owning your home can make a big difference in your life by bringing you joy and a sense of belonging. And with June being National Homeownership Month, it’s the perfect time to think about all the benefits homeownership provides.  Of course, there are financial reasons to buy a house, but it’s important to consider the non-financial benefits that make a home more than just where you live. Here are three ways owning your home can give you a sense of accomplishment, happiness, and pride.  You May Feel Happier and More Fulfilled  Owning a home is associated with better mental health and well-being. Gary Acosta, CEO and Co-Founder at the National Association of Hispanic Real Estate Professionals (NAHREP), explains: “Studies have shown the emotional and psychological benefits that homeownership has on a person’s health and self-esteem . . .” Similarly, Habitat for Humanity says: “Residential stability among homeowners is related to improved life satisfaction, . . . along with better physical and mental health.” So, according to the experts, owning a home can improve your psychological wellness by making you feel happier and more accomplished. You Can Engage in Your Neighborhood and Grow Your Sense of Community Your home connects you to your community. Homeowners tend to stay in their homes longer than renters, and that can help you feel more connected to your community because you have more time to build meaningful relationships. And, as Acosta says, when people stay in the same area for a longer period of time, it can lead to them being more involved: “Homeowners also tend to be more active in their local communities . . .” After all, it makes sense that someone would want to help improve the area they’re going to be living in for a while. You Can Customize and Improve Your Living Space Your home is a place that’s all yours. When you own it, unless there are specific homeowner’s association requirements, you’re free to customize it however you see fit. Whether that’s small home improvements or full-on renovations, your house can be exactly what you want and need it to be. As your tastes and lifestyle change, so can your home. As Investopedia tells us: “One often-cited benefit of homeownership is the knowledge that you own your little corner of the world. You can customize your house, remodel, paint, and decorate without the need to get permission from a landlord.” Renting can limit your ability to personalize your living space, and even if you do make changes, you may have to undo them before your lease ends. The ability homeownership gives you to customize and improve where you live creates a greater sense of ownership, pride, and connection with your home. Bottom Line Owning your home can change your life in a way that gives you greater satisfaction and happiness. Let’s connect today if you’re ready to explore homeownership and all it has to offer.