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Author name: Keith LaBrunda - RE/MAX Town & Valley

Home Seller Listing Appointment

The Risks of Setting a Too High of Asking Price for Your Home

Advice, Real Estate, Seller / By

As a homeowner eager to sell this spring, you’re right to consider this season an optimal time. The current market, with its limited housing inventory, remains in favor of sellers. This period traditionally sees an uptick in buyer activity, making it an ideal time to list your home. However, even in such a favorable market, it’s crucial to approach pricing with a strategy. Overpricing your home could lead to negative consequences down the line. The Pitfalls of Overpricing The price tag you attach to your home is a critical signal to prospective buyers. The initial impression formed by your listing’s

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Senior Couple Holding Moving Boxes

The Coming Silver Tsunami Could be More Like a Gradual Wave

Advice, Buyer, Market Trends, Real Estate, Seller, Senior Housing / By

The term “Silver Tsunami” has been making rounds, suggesting a massive shift of baby boomers downsizing or relocating simultaneously. This scenario raises concerns about a potential flood of properties hitting the market, intensifying competition for smaller homes, and disrupting the supply-demand equilibrium, potentially affecting property values. However, this perspective overlooks several key points. Let’s address these misconceptions and provide some reassurance. Not Every Baby Boomer Intends to Relocate Firstly, a significant number of baby boomers have no intention of moving. According to a study by AARP, over half of individuals aged 65 and older prefer to remain in their current

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Happy New Home Buyers

It May be Getting Easier for Buyers to Find a Home

Advice, Buyer, Market Trends, Real Estate / By

A significant challenge for homebuyers in recent years has been the scarcity of available properties. However, this trend is beginning to shift. Recent data from Realtor.com, illustrated in the graph below, indicates an increase in the housing market inventory in 2024, surpassing the figures from the previous years (2021-2023): Is Buying a Home Now More Feasible? The situation is mixed. According to Realtor.com: “There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation

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House for Sale in Spring

Third Week of April is the Ideal Time to List Your House for Sale

Advice, Market Trends, Real Estate, Seller / By

Considering a change of scenery? Now might be the prime time to embark on that journey. According to industry insiders, the optimal period to list your home is just around the bend. A study by Realtor.com, analyzing housing market patterns over recent years (excluding the anomaly of 2020), pinpointed the prime week for placing your home on the market in 2024 as April 14-20: “Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that

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Row of Houses in Foreclosure

Why a Housing Market Crash Isn’t on the Horizon

Advice, Buyer, Market Trends, Real Estate, Seller / By

Home buyers waiting for the housing market to collapse, driving home prices lower, might need to adjust their expectations. Contrary to hopes for a downturn, current data indicates a continued rise in home prices. The landscape of today’s housing market bears little resemblance to the pre-2008 crash conditions. Here are the key reasons why an impending crash is unlikely: Stricter Loan Requirements Enhance Market Stability Obtaining a mortgage is significantly more challenging now than in the period leading up to the 2008 crisis. Previously, lenient lending standards allowed almost anyone to secure a home loan or refinance, contributing to the

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Realtor Showing a Home for Sale

The Importance of a Realtor’s Advice When Planning to Move

Advice, Buyer, Real Estate, Seller / By

Whether you’re contemplating buying or selling a property, the decision is significant. In times of change, seeking advice from knowledgeable individuals is a natural step for guidance and support. Relocating is no different. Expert insights are crucial to navigate your decision with confidence. Freddie Mac emphasizes the importance of this approach: “As you set out to find the right home for your family, be sure to select experienced, trusted professionals who will help you make informed decisions and avoid pitfalls.” While no advice can be flawless – experts included – you can still access the highest quality guidance available. The

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Suburban Homes

Home Price Headlines Can Be Confusing

Advice, Buyer, Market Trends, Real Estate, Seller / By

Amidst the buzz around falling home prices you might catch in the news, it’s crucial to look beyond the headlines. The reality is, the broader narrative doesn’t align with the snippets you’re hearing. A closer examination of the national figures for 2023 reveals an overall positive trajectory in home prices throughout the year. Despite some regional variations and occasional national dips, these instances were outliers rather than a prevailing trend. The real story of the past year is one of growth, not decline. Let’s delve deeper into the facts to clarify the situation. 2023: A Year of Stabilized Home Price

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Seniors with Real Estate Agent

Leveraging Your Home Equity is Key When Considering a Move

Advice, Real Estate, Seller, Senior Housing / By

Considering selling your home but unsure due to the current market’s affordability challenges? While it’s true that affordability might be tighter this year, there’s a silver lining: your home equity. An article from Bankrate sheds light on this: “Home equity is the difference between your home’s value and the amount you still owe on your mortgage. It represents the paid-off portion of your home. You’ll start off with a certain level of equity when you make your down payment to buy the home, then continue to build equity as you pay down your mortgage. You’ll also build equity over time

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Mortgage Approval

Mortgage Pre-Approval is a Must Have for Buyers This Year

Advice, Buyer, Mortgage, Real Estate / By

Embarking on the journey to homeownership? You might have encountered the term “pre-approval” along the way. Let’s delve into its meaning and its critical role for those aiming to purchase a home in 2024. Understanding Pre-Approval In the homebuying journey, lenders assess your financial health to determine the loan amount you’re eligible for. This evaluation includes reviewing your W-2 forms, tax returns, credit score, bank statements, among other financial documents, as outlined by Investopedia. Following this assessment, lenders issue a pre-approval letter, which Freddie Mac describes as: “A pre-approval is an indication from your lender that they are willing to

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Suburban Houses

Foreclosure Rates Remain Below Historical Norms

Market Trends, Real Estate / By

Noticed headlines recently about rising foreclosures in the current housing market? These reports might stir some concern about the future market conditions. However, it’s crucial to look beyond the sensationalist titles for the complete picture. Understanding the Reality Behind the Headlines The narrative around an increase in foreclosures often lacks context. Media reports tend to compare recent figures against periods of historically low foreclosure rates, painting a more dramatic picture than warranted. During 2020 and 2021, foreclosure moratoriums and forbearance programs significantly aided homeowners, helping them navigate through tough times without losing their homes. The cessation of these programs naturally

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