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Selling Your Home in 2021

Sep 22, 2021
Home sellers have an unprecedented upper hand in today’s housing market. Homes are flying off the market for top dollar due to low inventory and extremely high demand. While we certainly are still experiencing a strong seller’s market, it’s important to approach the process with careful consideration and expert guidance. If you’re thinking of taking the leap to sell your home in 2021, this is what you need to know. 

Don't Take Advantage

It’s enticing to think that as a home seller you can enter today’s market and price your home at top dollar without doing anything at all. While homes today are still often being sold at ticket-price over asking, it’s important to maintain perspective. 


When pricing your home, consult with your realtor for advice on what makes the most sense considering the state of your home, the surrounding market, trends, and more. Pricing your home at a fair price may actually help to bring in the competitive offers you’re looking for from buyers.


Taking careful consideration of your home pricing may also ensure that your home selling experience goes smoothly and relatively quickly. Overpricing your home may be counteractive to your goals and result in an extended home selling process.


You're Allowed To Be Picky

Because you’ll have the upper hand as the home seller, you have the ability to keep your options open. Buyers today are competing in a tough market, and while it may seem like the highest bid is your best option, that’s not always the case. 


Just as sellers may be receiving multiple offers on their home, buyers could be making multiple offers on different homes as well. When sifting through offers, consult with your real estate agent and read through each offer carefully. Taking notice of things like built in contingencies could be the difference between a reliable buyer and a risky one.


Don't Skip The Small Stuff

Again, this market is nothing short of enchanting. If you’re thinking about selling your home in 2021, but think you can skip the cosmetics, think again. While selling your home in 2021 may be a little easier than past markets, the principles are still the same. 


Buyers like to be able to imagine themselves in your home as much as they want to be able to know the roof won’t cave in. While you may be able to skip out on larger renovations (unless it’s something structural like a leaky roof), patching up holes and adding a fresh coat of paint can go the extra mile. 


Staging your home is still important as well. While there may be less in person showings due to COVID-19, buyers are now scrubbing through images, videos, and virtual tours. Put your home in the best light possible to help buyers visualize themselves in it. Not only will it help the process go more smoothly, but it could also help bring in more competitive offers.


You'll Be On The Other Side Soon

Selling your home in 2021 will also mean that you’ll be buying a home in 2021. What makes this market perfect for seller’s, makes it difficult for home buyers. It is important to know where you’re going once your home sells as the process can move very quickly. 


Consult with your real estate agent and find an experienced loan officer to help you make the process of selling and buying a home as seamless as possible. This team of industry experts will help you sort through offers on your current home, craft your personal offer to be as best as it can be, find the perfect home financing plan for you, and ensure all these moving parts are working together to help you find your next dream home.


The Cost Of Waiting

There is a lot to consider as a home seller in 2021, but the pros outweigh the cons. When you take into consideration the cost of waiting for a more stable market, it becomes even more apparent that 2021 is the best year to sell and buy a home. For more information on how to start your home selling and buying journey, contact one of our loan officers today!

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Q1 Recap

By Mikaylah Collins • 12 Apr, 2023
We've begun to see signs that the Spring Market is here and could be robust! Here is what we know: According to NAR, home sales were up 14% in February over the previous month which marked the biggest monthly increase since July 2020. While March results are not yet published, the mortgage industry saw an increase in purchase applications for the 3rd straight month; a great sign for the housing market. Driving much of this activity is the stabilization of rates in January & February and lower interest rates this past month. We’re starting to see signs of a slowing economy and the markets are now pricing this in. This week we saw the 10-yr Treasury drop under 3.4%, a level it has not reached for quite some time and the lowest it’s been since September 9, 2022. This is great news for consumers as decreasing rates mean more home affordability. Over the past year, most markets have seen home prices stabilize if not even decline, albeit by a very small amount. This stabilization was still a relief for homebuyers as it helped to offset higher interest rates. As rates continue to decrease, we would expect home prices to again increase due to demand increases. In addition to increased demand, there is still a shortage of homes for sale nationwide and that will continue to worsen as more and more homebuyers enter the market.  So what does it all mean? Now is a GREAT time to buy a home! Rates and home prices are stable, there is not as much competition as there will be when rates do decrease, and buying a home is still extremely affordable for most. Once rates fall, we will likely see home prices rise and the competition for the shortage of homes will increase alongside it making the window of a buyer-dominated market very small.

Q1 2023 Market Outlook

By Sarah Rubin • 10 Feb, 2023
We are well into Q1 and feel confident saying that the market appears to be stabilizing. Before we start looking forward, let’s quickly look back at the end of 2022.

Finding The Right Listing Agent For You

By Sarah Rubin • 15 Dec, 2022
Buying a home is a huge investment and one we talk about often - BUT the flipside is that you have an opportunity to cash in on that investment when you’re ready to sell your home! While you do have the chance to cash-in, a lot more work goes into selling a home than you might think! If you are considering selling your home, working with a listing agent will help you market your home, negotiate with potential buyers, work through paperwork, and ultimately close on your home! So what is a listing agent? In its most basic terms, a listing agent is a real estate professional who represents the seller in a real estate transaction. The listing agent lists the home for sale and works on behalf of the seller to sell the home at the best price and terms for their client. Listing your home is a BIG deal and it is not a place to try and DIY. But why can’t you just grab a sign at Home Depot and try and sell yourself? Well, there are lots of reasons some of which include: Professional consultation: A listing agent will walk you through each step and tell you what to expect along the way! They should understand the specific community you’re in and the current market environment and will help you determine a competitive but realistic asking price for your home. Marketing and selling your home: Your listing agent will list your home on the multiple listing service (MLS) in order to better market your home to potential buyers. They also can make staging recommendations and hire a photographer to best show off your home and its features. They’ll schedule house showings, and can be present to answer any questions. Communication and negotiation: Communication is key to both buying and selling a home in order to minimize stress and misunderstandings. Listing agents take care of this important task, by staying in touch with interested buyers and their agents, fielding questions, handling paperwork, and negotiating the final sale price and terms. Recommendations: Seasoned listing agents might come with a list of professionals who they have worked with in the past that they enjoy working with in order to make the selling process smoother for you! Some of these professionals include: real estate attorneys or title companies, inspectors, stagers, those who specialize in home improvement AND of course trusted Loan Officers. How do I find the right listing agent for my situation? In order to find the right listing agent for you, make sure your agent is licensed and has experience, references, and a professional website where you can learn more about them and their qualifications. Most real estate agents work with both buyers and sellers, but some might specialize in one or the other. Once you find a few agents through referrals or online research, meet with them in person to ensure they meet your needs and work well with your personality. It is also important to ask questions during your meeting with them and it’s imperative that you determine what you’re looking for in an agent so you make sure you are happy with the product being delivered. Selling a home can be stressful, especially for first-time sellers. A listing agent can help by taking on some of the burden and providing the information and resources needed to help sellers make informed decisions. We work with agents on both sides of the transaction – if you have any questions or would like a recommendation for an agent in your area, please reach out to us!
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