Your Comprehensive Guide to Picking the Perfect Neighborhood

Be the first to comment on this post

Key Takeaways:

  • If you’re thinking about buying a home, it’s important to choose the right neighborhood, especially if you care about resale value.
  • Certain neighborhood features can increase your home value—and make you feel right at home in your new community. 
  • When it comes to your home search, we have some features to keep in the forefront of your mind to make sure you pick the perfect (and most profitable) community! 

Here’s What Affects Your Home Value Every Time

When it comes to your home search, finding a house in the ideal neighborhood is half the battle. Your future community is going to decide how close you are to nearby conveniences, what qualities your home possesses, and the people who are going to be your neighbors. 

A home’s value is determined by how much prospective buyers in the market are willing to pay for your property, but we understand that each buyer is unique. While one buyer may prioritize nearby employment opportunities, another might place more weight on local entertainment or neighborhood amenities. However, property values are always impacted by one component—where they’re located. 

If you’re on the hunt for your next neighborhood, consider this your step-by-step guide on how to pick the perfect community!    

Location, location, location

aerial view of neighborhood homes

You’ve probably heard this before, but it’s so important that we have to repeat it—location is everything when it comes to making a good investment in your next home. Think about it: typically, all the homes in a neighborhood, regardless of size or condition, fall within the same price range. Therefore, when it comes to valuing a property, location matters more than even the home’s characteristics.

When an appraiser is assigning a value to a property based on its location, they look at three primary factors—the reputation of local schools, employment opportunities, and proximity to entertainment. In addition to these factors, a home’s distance to everyday necessities, such as highways and public transit systems, play a crucial role in increasing its value.     

Neighborhood amenities are must-haves for more value 

enjoying an outdoor dinner

What could be better than having a host of amenities available right outside your front door? Neighborhood niceties such as community clubhouses, golf courses, and pools are often at the top of buyers’ wishlists when searching for a new home. All these features and more foster a fun, inclusive environment of community involvement. Plus, a spacious clubhouse serves as the prime venue to host events that are sure to bring the neighborhood together! 

In addition to a neighborhood’s current conveniences, you can research any future upgrades your community has coming through its digital planning documents. These documents should outline what improvements are planned for your neighborhood—like nearby shopping centers, schools, or parks—and when they’re going to be completed. Plus, it’s always a good idea to check and see if a neighborhood has a homeowners association. Your HOA will have a hand in maintaining and enhancing the community’s value over time. 

Other conveniences you should consider…

woman smiling on phone

At this point, you’ve probably considered some basic factors like nearby attractions, commute times, and all the amenities a neighborhood has to offer—but what about the everyday conveniences? To take your home search to the next level, you have to think about the seemingly small details. When evaluating your neighborhood’s location, cover your bases by mapping out the distances to the nearest medical centers, airports, and grocery stores—believe us, you’ll be thankful for this when you forget to buy eggs. 

In terms of expenses, everyone has to pay utility bills, so you can save money by looking at who your local providers will be ahead of time. And speaking of planning, we recommend working with your agent to determine how your area’s property taxes will fit into your home-buying budget. 

Ready to Find Your Perfect Fit?

All these features are things you should be on the lookout for during your home search—and remember, the surrounding community is equally as important as the individual home when it comes to finding your perfect fit. As your local real estate agents, we’d be happy to help you find your dream home in just the right neighborhood—all you have to do is give us a call! 

Categories: Uncategorized

Do You Know the Hidden Costs of New Construction?

Be the first to comment on this post

Key Takeaways:

  • New construction homes can have hidden costs, which is why you have to pay attention to the details when deciding on a new build. 
  • When touring model homes, always ask the builder about what’s standard and what’s considered an upgraded feature with additional costs.  
  • Buy on your terms and work with our team to navigate the ins and outs of purchasing the new construction home of your dreams!

Don’t Mistake “New Construction” with “All-Inclusive” 

There are many advantages of buying a new construction home—low-maintenance living, brand-new appliances, and minimal repair costs are just a few. Plus, a new build provides a blank slate for buyers to begin making sweet new memories! 

While buyers should be excited about all these benefits, they should also be aware of the potential hidden costs associated with purchasing a new build. We’re here to ensure you know exactly what is included in the overall cost of your new construction home. 

Protect yourself before there’s a problem

Just like an existing home, a brand-new home can have hidden issues that could require repairs. Something as simple as inadequate plumbing or roofing could result in sizable amounts of damage—this is why you have to protect yourself by being proactive in the home-buying process. All builders have their own nuances, which is why you should take the time to research different options before deciding on the right one. If you want some tried and true recommendations, your agent can provide valuable insight. Every home, including new builds, should be checked by an independent home inspector who isn’t affiliated with the builder. 

Before you commit to purchasing a new build, make sure to read the fine print of the home warranty. You may have to rely on your warranty if any issues arise that aren’t covered by your homeowners’ insurance policy. And remember, not every warranty is the same, so it’s important to determine exactly what your warranty covers and the length of the coverage. 

Stay true to your non-negotiables

Newly-built homes aren’t guaranteed to include all the necessities, so you need to know what to expect from a standard model. It’s quite common for new builds to come without certain interior items, such as appliances and window treatments, plus exterior fencing and landscaping. 

Before you make an offer, talk to your builder with your agent present and ask about the features included in your future home. Everything from drawer handles to light fixtures could cost extra, so be sure to compile a list of non-negotiables to budget for things you can’t live without.   

Don’t be duped by the mesmerizing model home

The model homes you’ll tour often have all the available upgrades the builder offers—we’re talking gourmet kitchens with granite countertops and open-concept floor plans with beautiful hardwood flooring. However, these top-level features could cost you thousands of dollars more than the builder’s grade basics. 

You can work with your agent to figure out which features are included in the standard model’s base price. Be sure to focus on what originally made you fall in love with the property, not all the bells and whistles you see in the showy model. When contemplating which upgrades are worth the cost, think about the home’s future resale value—will the upgrades increase your return on investment and appeal to a variety of buyers? This is a prime opportunity to lean on your agent’s expertise to determine which upgrades will add the most value to your home.   

Ready to Buy a New Build?

When you buy a new construction home, you always want to have a trusted real estate agent by your side. Remember, the builder’s sales agent has the builder’s best interest in mind—not yours. We have the new construction experience needed to guide you through the negotiation process and make sure you’re getting your money’s worth. Contact us to learn more about new construction properties in the area, and we’ll get the ball rolling on buying your new home today! 

Categories: Uncategorized

The Time to Buy New Construction Is Now

Be the first to comment on this post

Key Takeaways:

  • Buying a new build is the best way to craft a home that fits all your needs, and you’ll get the customization you crave. 
  • Material costs are on the rise, and you shouldn’t wait for them to come down—invest in new construction now to lock in your preferred price. 
  • We have the knowledge and network of connections you need to get started on your new construction project. Give us a call and we can discuss your options! 

What if Your Dream Home Doesn’t Exist Yet?

The past year has made many homeowners redefine what their dream home looks like, and it’s something different for everyone. If you’ve spent time searching the real estate market but can’t find an existing home that suits your specific needs, you should consider new construction. Whether it’s a custom-built home, a recently renovated older property, or a spec home in a newly constructed neighborhood, there are tons of options available right now. And luckily for you, we have all the knowledge you need to bring your dream home into existence.  

Here’s what you need to know about new construction

new construction home being built

Buying new construction isn’t as simple as selecting a floor plan then signing the dotted lines. There is a detailed timeline for constructing a home that you’ll need to discuss with your builder and lender. When you work with an agent who specializes in new builds, you’ll learn all the nuances that come with buying new construction—plus, you’ll have someone who will always be on your side. 

When you decide to buy a new build, you’ll likely check out model homes in the area. At these model homes, you might meet an agent who will give you a tour and tell you a bit more about the builder. In these scenarios, the agent always works for the builder’s best interest, not the homebuyer’s—this is why it’s crucial to find your own agent to guide you from the initial purchase of your new construction home to finalizing the closing documents.  

We’ve heard the rumors, too…

stacks of lumber

In the midst of today’s inventory shortage, demand for building materials is at an all-time high, which means resources like lumber certainly aren’t cheap. Almost all costs associated with construction have increased in 2021—and they aren’t expected to come down anytime soon. With this in mind, now is the time to invest in new construction before costs continue to rise.  

Partially due to the lack of existing housing supply, about one in four homes are now newly built. Whether you’re interested in a pre-built spec home with less prep work or a completely custom build with your say written all over it, you should definitely take a look at the perks that come with a new build—and customization is just the beginning. 

Design your own dream home 

designing your dream home

This time, you can have your cake and eat it too—or better yet, you can have your home built with your custom designs in mind. When you choose to build a home from the ground up, you can customize every single detail. New construction homes are meant to be tailor-made to your desires, so don’t be shy about asking your builder for upgrades or personalizations. From an open-concept floorplan to updated finishes and fixtures, the options really are endless when you choose new construction!   

Think new car smell, but better 

tailor-made kitchen

One of the top appeals of building your own home is that new, never-been-used feeling. When you buy new construction, you’ll get all brand-new appliances. In addition to all the bells and whistles in your new home, it is also likely to have green features like efficient lighting, effective insulation, and smart thermostats—all of which will save you money on your utility bills. And if your new home requires any repairs after moving in, most builders offer warranties and will get everything back in top-notch condition for free within a certain timeframe. 

Ready to Build Your Dream Home?

Now’s a better time than ever to invest in a new construction home—and luckily for you, we’re the new home experts! We have the local area knowledge and expertise in new builds to help you navigate the new construction process from start to finish. Contact us today to make your dream home a reality! 

Categories: Uncategorized

Reap the Benefits of Your Realtor Even After You’ve Moved

Be the first to comment on this post

Key Takeaways:

  • Our real estate expertise goes far beyond just buying or selling your home—you can rely on us for quality resources before and after you’ve moved. 
  • Whether you’re searching for the best local handyman, a notary, or something else entirely, you can trust our vetted providers to get the job done. 
  • If you ever need a real estate recommendation—today or years down the road—just give us a call for personalized advice! 

Unlock Our Exclusive Real Estate Recommendations

We like to consider ourselves real estate experts, and we love being able to share our knowledge with you! Throughout our years of working in the housing market, we’ve formed deep relationships with not only our clients, but with local trusted businesses, too. We’ve vetted these vendors ourselves so that you don’t have to play the costly game of trial and error. 

Need some personalized recommendations or strategic advice? Here’s how your agent can serve you even after you’ve moved.   

Sellers, we don’t stop at “SOLD”

couple with a sold sign

When we say we’re by your side every step of the way, we mean it—which means our services never stop at “SOLD!” Whether we’ve just listed your home or already sold it, we know there’s always more work to be done. Seemingly small details go a long way in making a house a home. We’ve worked with the best professional landscapers, painters, and cleaners in the area—all contacts you need to put the finishing touches on your space. 

We consider our clients to be one of our own, which means our exclusive buying and selling resources are always available to you. At any time, you can see if your home value has increased using our free estimator or jumpstart the buying process after you sell with our advanced search tool. Our real estate professionals have gained invaluable experience in working with our clients, so we try to return the favor whenever possible by providing in-depth insight.    

New homeowners, you’re not done with us yet

Couple holding keys to a home

We loved helping you find your dream home so much that we want to keep working with you—and honestly, we think we’re going to need each other! Homeownership is a huge investment, so you want your new place to be in tip-top shape at all times. 

First things first, it’s important to change your locks when you move into your home, since you don’t know who might have a copy of your keys. Don’t know of a local locksmith? Don’t worry, we’ll open some doors for you! Don’t let a household repair linger just because you don’t know a trusted provider who can get the job done. Whether you’re looking for a handyman to lend a helping hand on a home project or need repairs for your HVAC, you can count on our personalized recommendations for the most reliable providers in the area!

And for when you’ve been watching (maybe too much) HGTV

Older couple talking about renovations

We get it, watching Fixer Upper makes you want to DIY your entire home, especially if you’re thinking about listing soon or just moved in. But for when you’re not in the mood to do it all yourself, we’ve got contacts for everything from new light fixtures to full-on home renovations. Our desire for you to live in your dream home doesn’t stop when you sign the closing documents, and we will always be available to help with any home improvements. 

Want Access to Our Preferred Vendors?

Working with a top-notch real estate agent means you’ve gained a partner for life. So when anything comes up in your buying, selling, or homeownership journey, just give us a call! 

Whether you’re at the beginning of the selling process or have already bought your dream home, you can always rely on us to connect you with the area’s best vendors. Contact us today for any recommendations you may need—and don’t forget, we’re locals too, and we love to catch up with our clients! 

Categories: Uncategorized

The Top 4 Questions to Ask When Buying a Home with a Pool

Be the first to comment on this post

Key Takeaways:

  • Pools are a highly coveted amenity, and having one of your own comes with quite a few perks.
  • Want to know the ins and outs of pool ownership? We’ve outlined some must-ask questions that every homebuyer should consider.
  • No matter what kind of home you’re looking to buy, you can always reach out to us for advice—give us a call to start your next chapter!

Here Are the Questions You Need to Ask Before Buying a Home with a Pool

If you’re in the market for a new home, a pool might be at the top of your wishlist—and having one comes with quite a few health, entertaining, and financial benefits! However, before you commit to buying a home with this luxurious feature, there are some questions you might want to ask first.

Want to learn the ins and outs of buying a home that comes with a pool? Here’s everything you need to know. 

What are the most common types of pools?

Pool with deck and chairs

Generally, most pools fall into two categories: above-ground and in-ground. Above-ground pools cost less to maintain and are statistically safer. However, in-ground pools blend into your yard’s natural landscape, and because they’re permanent, they may increase your home’s value over time. 

Pools can also be subdivided into a number of other categories based on their materials (fiberglass, concrete, etc.), the type of water (fresh or saltwater), and styles (lap pools, infinity pools, or spas). It’s best to do plenty of research in advance and ask your agent for more details on a home’s pool.

What should I know about pool maintenance?

Cleaning a pool

In most cases, pools cost around $100 or more each month to maintain and can require an hour of work per week depending on the season. However, this number varies based on your location and whether or not you use a professional service.

As a pool owner, you’ll be responsible for cleaning any debris, adding pool chemicals, as well as maintaining the pump and filter. You may also want to periodically test pH levels, vacuum your pool, and use cleaners to shock the water.

Over time, your pool will require more expensive maintenance, especially if a part goes bad or there’s a problem with the overall structure. If you have any concerns, your agent can be a helpful resource as you weigh the pros and cons.

Should I worry about pool safety?

If you plan on having children or pets near your pool, you want to ensure that it has the latest safety features. Fencing, mesh covers, and pool alarms add another layer of protection for all ages. If a pool doesn’t already have these upgrades, you’ll want to factor in the cost of adding them. More costly gadgets—such as alarms and fences—will set you back a few hundred dollars. 

Will home inspectors check a pool?

Checking a pool's chemical levels

Home inspectors almost always check a pool during their evaluation. However, if they aren’t well-versed in the specifics of pool maintenance, they may miss some critical issues. If you have any in-depth questions about a pool’s condition, hire a professional pool inspector before the closing. They’ll go beyond a general checklist and give you a thorough look at any problems a pool might have. Most pool inspectors will also provide an itemized list of potential repairs that can help you negotiate the final price of a home.

Want to know some of the most common red flags inspectors might point out? Be wary of any cracks in the pool’s interior, foul-smelling or off-color water, clogged filters, or broken equipment. 

Ready to Have Some Fun in the Sun?

Pools can require some effort and money to maintain, but you simply can’t beat the benefits of having your own swimming space. If you’re dreaming of buying a home with a pool, we’d love to help you track down your perfect place! Just give us a call to get started—we look forward to working with you!

Selling a home with a pool? Contact us to learn more about getting top-dollar in no time at all.

Categories: Uncategorized

What Every Seller Should Know About Home Inspections

Be the first to comment on this post

Key Takeaways:

  • Even in today’s hot market, it’s not uncommon for buyers to request an inspection before purchasing a home.
  • Believe it or not, there are a few steps you can take as a seller to prepare for your home’s big assessment.
  • If you’re ready to list and sell in no time at all, contact us to get the ball rolling!

4 Tips to Help Sellers Ace a Home Inspection

Home inspections—almost every buyer wants one, and they’re often a necessary part of the selling process. Even in 2021’s competitive market, it’s not uncommon to see an inspection contingency attached to an offer, and many sellers have a few questions about what exactly they entail. 

Want to learn the secret to acing your inspection as a seller? Here are a few tips that can help you prepare for your home’s big close-up.

Get a pre-listing inspection

Reviewing home inspection report

Even if your home seems move-in ready, it might still have a few issues you don’t know about. This is why many agents recommend getting a pre-listing inspection to uncover any problems ahead of time. It might cost a bit out of pocket, but it will help you know exactly what you need to fix before your home hits the market. Pre-listing inspections also prevent any surprises down the line and give you more control over the sale.

After your inspection, you can choose to repair any problems or simply let buyers know about them. If you have any questions about what should or shouldn’t be updated, just ask your agent for advice.

Don’t conceal any known problems

Home inspector looking at stairs

Most states require sellers to disclose a home’s known defects, even after they’ve been repaired. While it may be tempting to conceal these issues, doing so can come with serious legal ramifications.

For example, if your home has known water leaks or you’ve made major structural repairs, you’ll likely be required to communicate them to potential buyers. Home inspectors will take your disclosures into account during their analysis, so it’s important to be as truthful as possible. Luckily, your agent can serve as a helpful resource for understanding necessary disclosures!

Do a little prep work

Gathering receipts

Preparing for a buyer’s inspection shouldn’t involve expensive repairs. If your home is already clean and properly staged, there’s actually not a lot you have to worry about. However, there are a few steps you can take to get your space ready for inspection day.

Start by gathering all documents relating to your home—that includes proof of services and receipts from big-ticket purchases (like HVAC systems or appliances). You should also replace your air filters, check your light bulbs, eliminate clutter, and do a quick once-over of your home to make sure everything is in working order.

Know how to negotiate

Real estate agent helping sellers negotiate after an inspection

During an inspection, a qualified professional will spend a few hours examining your home from top to bottom. Generally, they’ll check major components, such as your roof, electrical wiring, plumbing, the foundation, HVAC systems, and all major appliances. It’s normal for an inspector to uncover a few issues—but after the inspection, the ball is back in your court.

In most circumstances, a buyer will request repairs or credits once they review the inspection report. But in today’s seller-driven market, some buyers only conduct an inspection for informational purposes. If you have any questions about post-inspection negotiations, it’s best to defer to your agent. They have the expertise you need to secure the best possible deal.

Looking for More Selling Tips?

Whether you’re eager to list or just have a few questions about selling, you can always give us a call for personalized real estate advice. We’re here to help you navigate every step of the home-selling process, and we can even tell you how much your home is worth in 2021’s crazy market.

Ready to get started? Drop us a line—we look forward to teaming up with you!

Categories: Uncategorized

5 Questions Sellers Keep Asking About 2021’s Hot Real Estate Market

Be the first to comment on this post

Key Takeaways:

  • Today’s real estate market is heavily skewed towards sellers, making now the perfect time to list your home.
  • Many would-be sellers have questions about moving when the market is this hot—and we have the answers you need to get started.
  • If you’re considering selling your home soon, it’s crucial to work with a top local agent. Give us a call to see what we bring to the table!

The Top 5 Questions Every Seller Asks in Today’s Market

Whether you’re eager to list or are just thinking about selling, you’ve probably heard that the 2021 real estate market is one for the record books. Since last year’s swift economic recovery, home values just keep getting higher, and it’s not uncommon for listings to sell over asking price in just a few days. And according to the National Association of Realtors, the typical home is now selling for 14.1% more than last year. 

Have a few reservations about listing your home right now? Here are the answers to some of the most common questions we hear from our sellers.

Should I even consider selling right now?

White sold home sign

To put it simply: yes! There’s never been a better time to sell, especially if you’ve built up equity by living in the same home for a while. Since the beginning of the pandemic, we’ve seen a national housing shortage, record-low interest rates, and a surge of serious buyers. This has driven prices to all-time highs, and many buyers are even waiving contingencies or paying extra for the right home.

Looking for another reason to move? A recent survey by NerdWallet found that one in six homeowners plan to list their home in the next 18 months. So if you want to take advantage of today’s crazy market and beat out the competition, you shouldn’t wait much longer. 

Will I be able to buy a new home after I sell?

Couple buying a home

A majority of homeowners aren’t worried about selling their home—they’re actually more concerned with buying a new one. If your home sells quicker than you expect, you still have options. You may be able to request “use and occupancy” or “rent-back” contingencies from your buyer, which allow you to live in your current home until you find a new one. It’s also worth asking your buyer if they’re willing to be flexible with the closing date. Depending on your situation, it might even be more advantageous to buy before you sell.

Do I need to work with an agent if the market is so hot?

Clients talking to an agent

Many homeowners believe they can make an even bigger profit by not using an agent, particularly in a seller’s market. While you may save some money on commission, you could end up selling your home for below its true market value. And let’s be honest—nobody has time to sort through dozens of offers or handle all the complicated paperwork that comes with selling a home!

If you want to price your home right and ensure a stress-free selling experience, it’s worth paying for an agent.

Should I still stage my home or make improvements?

Painting a wall white

Unless your home is in dire need of an update, there’s no need to make any major changes before you list. However, it’s still a good idea to do a little staging to get your space looking its best. Start by tidying up, getting rid of clutter, and depersonalizing as much as possible.

If you’re trying to sell a fixer-upper and don’t want to complete any repairs, consider listing “as-is.” This tells potential buyers that you won’t be making any changes—what they see is what they get.

What’s my home worth in today’s market?

Increasing home values

Tempted to use an online estimator to see how much your home is worth? Before you type in your address, consider reaching out to a local real estate agent instead. The real estate market in our area changes day by day, and an agent will have up-to-date data that’s more accurate than any algorithm.

If you’ve lived in your house for at least a few years, your property has probably increased in value more than you’d expect. Get in touch with us today for a complimentary valuation, or give us a call for more personalized advice!

Sell Your Home with Confidence

Selling your home shouldn’t be a stressful experience. If you have even more questions about today’s market, just drop us a line—we’re here to make the entire process hassle-free! 

Curious about your home’s value? Send over your address, and we’ll conduct a free, no-obligation home value estimate.

Categories: Uncategorized

4 Tricks to Buying a Home in a Crazy Hot Market

Be the first to comment on this post

Key Takeaways:

  • Despite the ongoing pandemic, the real estate market is more competitive than ever before—and that means buyers have to do more to get their offer accepted.
  • Want to stand out from the competition and score the home of your dreams? Our four tips can help you achieve real estate success in no time.
  • If you have any questions about buying in today’s hot market, just give us a call for even more personalized advice!

The 4 Tips Every Buyer Needs to Know in 2021

If you’ve been house-hunting for a while, you’ve probably noticed that today’s real estate market is more than just a little competitive. Low mortgage rates, high demand, and dwindling inventory have created ideal conditions for sellers—but it’s still very possible to score a fantastic deal on a home.

Want to know the secret to buying a home in 2021? Here are four tips that can help you take back control in a seller-driven market.

Get your finances in order

Calculating mortgage payments

First and foremost, you need to get your finances in order before you even consider looking at homes. Start by paying off as much debt as you can and increasing your credit score. It’s also a good idea to keep track of just how much you have saved for a down payment. Sellers are more likely to choose buyers who can put down at least 15% or pay cash.

Want to strengthen your offer even more? Get preapproved or attach a higher earnest money deposit to show a seller you’re serious about buying their home.

Know what you want

Buying a home is one of life’s most exciting milestones. However, it’s easy to get caught up in the little details—which is why it’s crucial to do your research in advance. Connect with a local agent early on to discuss your home-buying goals. A good agent will help you hone in on your budget, wants, and needs, as well as the right area or neighborhood.

Prepare for a bidding war

Negotiating a deal

According to a recent survey by Redfin, more than half of all buyers found themselves in a bidding war last year. And while the idea of competing against other home-seekers might seem overwhelming, there are a few things you can do to stand out. 

If you’re trying to score a house with multiple bids, send in your best and final offer up front. You may also want to include an escalation clause, which automatically increases your purchase price by certain increments (like a few thousand dollars at a time) so you avoid getting outbid.   

It’s also a good idea to consider homes below your budget, especially if you have your heart set on a popular neighborhood. This gives you some flexibility if you end up in a bidding war. 

Appeal to the seller

Talking about real estate

Even if you find yourself in a bidding war, it’s still possible to come out ahead. Believe it or not, sellers don’t always choose the highest offer, even if it far exceeds the original asking price. 

You can appeal to a seller’s peace of mind by limiting your contingencies, offering to pay closing costs, and letting them choose the closing date. Adding these extra bonuses might seem minor, but they can really impact a seller’s final decision.

Only Buy with the Best

Working with a top-notch agent can help you navigate 2021’s crazy real estate market with ease. So if you’re looking for some guidance, it’s time to give us a call!

Whether you’re at the beginning of the buying process or are already searching for a home, you can trust us to help you find your perfect place. Contact us today to get started; we look forward to working with you.

Categories: Uncategorized

What Makes Today’s Real Estate Market So Competitive?

Be the first to comment on this post

Key Takeaways

  • This year’s housing market is shaping up to be the most competitive on record, but the pandemic isn’t the only thing influencing the national real estate boom.
  • There are actually quite a few factors contributing to today’s hot market, including unfettered buyer demand, historically low supply, and steady interest rates.
  • Have questions about buying a home in 2021? Get in touch with us for even more personalized advice.

3 Factors That Make 2021’s Real Estate Market More Competitive Than Ever

If you’re planning a move, you might be wondering how the real estate market will change this year—and the predictions are pretty eye-opening. Existing home sales are expected to increase by 9%, home prices could rise by a whopping 8%, and mortgage rates should stay well below 4% for the foreseeable future. 

For buyers, this means you may have to work harder than usual to find the perfect place. However, this extra effort will pay off if you have a home to sell or want to take advantage of extraordinarily low interest rates. 

Need help making sense of today’s market? Here are a few reasons why real estate is more competitive than ever in 2021. 

The ongoing pandemic

Buying a home during the pandemic

A year ago, real estate experts had no idea how the COVID-19 pandemic would impact the housing market. While many predicted a crash akin to what we saw in 2008, we actually saw the opposite: a pandemic housing boom.

During last year’s lockdowns, many renters and homeowners grew unhappy with their living situations and wanted a change. This caused demand for homes to spike—and as panicked sellers pulled their listings, prices rose higher and higher.

The pandemic might slowly be coming to an end, but we’re still seeing remnants of 2020 in today’s market. And while more sellers are finally warming up to the idea of listing again, available housing supply is still at its lowest point ever.

Record-low interest rates

Dice changing rates

In late March, interest rates for 15- and 30-year mortgages hovered around 2.5% and 3.3%, respectively. Although these numbers aren’t quite as low as they were in 2020, buyers can still score a once-in-a-lifetime deal by moving now.

To put things into perspective, let’s say you’re thinking about buying a $300,000 house with a 20% down payment. Back when rates were nearing 4%, you could expect to pay around $1,200 per month for your mortgage. However, if you were to buy that same home with a 3% interest rate, your payment would drop to just $1,012—and that difference can save you tens of thousands of dollars over time.

Low inventory & unprecedented buyer demand

Sold sign

Real estate is all about supply and demand. And in today’s competitive market, an inventory shortage and swelling buyer demand have created perfect conditions for sellers. In particularly popular areas, it’s not uncommon for homes to sell just days after they’re listed, sometimes in bidding wars that go above the original asking price.

If you’re thinking about buying a home soon, be prepared to act fast. Many agents recommend getting pre-approved, limiting your contingencies, or even setting an escalation clause to automatically outbid other buyers.

Bottom Line: Now Is the Time to Move

Navigating 2021’s one-of-a-kind real estate market may seem like a daunting task, but the right agent will help you through every step of the process. Today’s buyers can capitalize on shockingly low interest rates, while sellers stand to make an impressive profit should they decide to list soon. And if you ever have any questions, we’re always here to help!

Buying or Selling Soon? Let’s Talk!

Don’t let the market keep you from making a move. If you’re ready to achieve real estate success in no time at all, drop us a line to get started. We’d love to offer you one-on-one buying or selling advice that’s tailored to your unique needs.

Categories: Uncategorized

Exposing the 4 Factors Agents Use to Price Your Home Right

Be the first to comment on this post

Key Takeaways:

  • Before you list your home, it’s crucial to understand how much a buyer would be willing to pay for it.
  • Your agent will use a variety of factors to determine a competitive list price—and some of them might be a little unexpected.
  • If you’re looking for a fast and accurate way to price your home, we’re here to help. Contact us today for a complimentary estimate!

4 Surprising Factors That Go Into Pricing a Home

Pricing your home to sell quickly—even in today’s hot real estate market—is all about balance. You want to price low enough to attract potential buyers, but high enough to profit from your equity. And while it may be tempting to use automatic estimators, it’s best to leave the number-crunching to your agent.

Need help determining the perfect price? Here are a few factors your agent will take into consideration when valuing your home.

Your home’s size and condition

House with coin stacks

This may seem like a given, but a home’s size, condition, and features play a huge role in how much it’s worth. Before you list, your agent will perform a walkthrough of your home to thoroughly evaluate its saleability. If your space is move-in ready and well-maintained, you’ll have more luck setting a higher asking price.

Many sellers are under the impression that big-ticket upgrades will drastically increase their home’s value, but this isn’t always the case. Before you make a significant change, ask your agent for their professional opinion. Believe it or not, smaller touches (like updating hardware or repainting) can have a better return on investment than a full-scale renovation.

Location

Map with pin

Real estate is all about location, and there are a few general factors that tend to boost property values. Typically, agents will price a home based on local schools, nearby employment opportunities, and proximity to amenities. Houses in more desirable neighborhoods or communities also tend to command a higher list price.

Above all, most buyers are looking for homes that offer the perfect blend of privacy and convenience. Being close to (but not right next to!) highways or public transportation is another huge plus.

Other recently sold homes

Sold home sign

One of the best indicators of your home’s value is the sale price of other listings in your neighborhood. Your real estate agent should conduct a comparative market analysis—abbreviated as CMA—to see how your home stacks up against the competition. By looking at recently sold homes that are similar to yours, they can calculate a fair and accurate price.

After your agent has assessed your home, they’ll likely send you a CMA report that contains their projected price, along with data from other comparable homes. A great agent will also be available to answer any questions, too!

Current market trends

Houses on a graph

Even if your home is in perfect condition, in the best location, and boasts quite a few upgrades, the current state of the market can have a huge impact on its overall value. And in today’s seller-driven market, homes are now worth more than ever before.

Just last year, home prices surged by 15%. To put those numbers into perspective, that’s a $45,000 increase for a $300,000 home. If you want to take advantage of these unbelievable conditions, now is the time to list—and we’d love to help!

Get Your Updated Home Value

Whether you’re just curious or are ready to sell, you can trust our team to calculate your home’s true market value. Request a free home valuation today, or reach out to us to learn more about 2021’s hot real estate market. There’s never been a better time to list!

Categories: Uncategorized

Copyright © 2021 | Information deemed reliable, but not guaranteed. | Real Estate Website Design by Dakno Marketing.