Tuesday, February 11, 2025 / by Stephanie Deeds
If you want to sell your house, having the right strategies and expectations is key. But some sellers haven’t adjusted to where the market is today. They’re not factoring in that there are more homes for sale or that buyers are being more selective with their budgets. And those sellers are making some costly mistakes.
Here’s a quick rundown of the 3 most common missteps sellers are making, and how partnering with an expert agent can help you avoid every single one of them.
1. Pricing the Home Too High
According to a survey by John Burns Real Estate Consulting (JBREC) and Keeping Current Matters (KCM), real estate agents agree the #1 thing sellers struggle with right now is setting the right price for their house (see graph below):
And more often than not, homeowners tend to overprice their listings. If you aren’t up to speed on what’s happening in your local market, you may give in to the temptation to price high so you . ...
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real estate, real estate news, realtor tips, selling, selling your house, home sellers, sellers, real estate agent, seller agent
Thursday, January 30, 2025 / by Marie Reddick
If retirement is on the horizon, now’s the time to start thinking about your next chapter. And you probably want to make sure you’re set up to feel comfortable financially to live the life you want in retirement.
What you may not realize is you likely have a hidden goldmine of cash you’re not thinking about — and that’s your home. Data from the Federal Housing Finance Agency (FHFA) shows that home values have gone up nearly 60% over the last 5 years alone (see graph below):
And that appreciation gave your net worth a big boost. According to Freddie Mac, over the same five-year period:
“ . . . Boomer overall wealth increased by $19 trillion, or $486,000 per household, half of which is due to house price appreciation.”
So if you’ve been in your house ever longer than that, chances are you have even more equity in your home. If you want to have access to more of the wealth you’ve built up throughout . ...
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real estate, real estate news, selling, selling your house, home sellers, sellers, real estate agent, seller agent, realtor, home equity
Monday, January 27, 2025 / by Marie Reddick
Let’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”
But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.
What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.
1. Less Competition from Other Buyers
The winter months tend to be quieter in the real estate market. Fewer people are actively looking for homes, which means you’ll likely face less competition when you make an offer. This makes the process feel less rushed and less stressful.
According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring . ...
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real estate, real estate news, buying a home, buyer tips, home buyers, realtor tips
Tuesday, January 21, 2025 / by Stephanie Deeds
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.
What Is Pre-Approval?
Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:
W-2s from the last two years
Tax returns from the last two years
Pay stubs from the last 30 days
Bank statements from the last 60 days
Investment account statements (if applicable)
Two years of history of where you’ve lived
The result? You’ll get a pre-approval letter showing what you can borrow. Keep in mind, that any changes in your finances can affect your pre-approval status. So, after you receive your l. ...
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buying a home, buyer tips, home buyers, realtor tips, credit score
Friday, January 17, 2025 / by Stephanie Deeds
Your credit score plays a big role in the homebuying process. It’s one of the key factors lenders look at to determine which loan options you qualify for and what your terms might be. But there’s a myth about credit scores that may be holding some buyers back.
The Myth: You Need To Have Perfect Credit
According to Fannie Mae, only 32% of potential homebuyers have a good idea of what credit score lenders actually require.
That means two-thirds of buyers don’t actually know what lenders are looking for – and most overestimate the minimum credit score needed.
The Reality: Perfect Isn’t Necessary
But the truth is, you don’t need perfect credit to become a homeowner. To see the average score, by loan type, for recent homebuyers check out the graph below:
There is no set cut-off score across the board. As FICO explains:
“While many lenders use credit scores like FICO Scores to help them make lending de. ...
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real estate, real estate news, buying a home, buyer tips, home buyers, realtor tips, mortgage, housing market, credit score
