sell a house in salina kansas: The Real Estate Ripple: Why Interest Rates Matter - 09/12/23 02:22 AM
 
To buyers, sellers, and Realtors alike: interest rates aren’t just numbers. They're the heartbeat of the real estate market. When rates are low, it’s like a clearance sale for homebuyers. Your dream home? More affordable than ever. Monthly mortgage? Dramatically reduced. The result? A surge of buyers rushing to capitalize.
 
But what about sellers? Lower rates mean more buyers and, often, higher home prices. It's prime time to list and maximize returns. And when rates rise? Fewer buyers, but those who shop are serious contenders, often leading to quicker sales.
 
For Realtors, understanding this dynamic is crucial. It dictates market temperature, guides pricing … (15 comments)

sell a house in salina kansas: Wondering How Much You Need To Save for a Down Payment? - 09/11/23 02:11 AM
If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don't let a common misconception about how much you need to save make the process harder than it could be.
Understand 20% Isn’t Always the Typical Down PaymentFreddie Mac explains:
“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.”Unless specified by your loan type or lender, it’s … (3 comments)

sell a house in salina kansas: Buyer Traffic Is Still Stronger than the Norm In Salina,Kansas - 09/04/23 05:26 AM

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.
The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:
As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of year, it's clear … (2 comments)

sell a house in salina kansas: Why You Don’t Need To Fear the Return of Adjustable-Rate Mortgages in Salina,Ks - 08/23/23 04:02 AM

If you remember the housing crash back in 2008, you may recall just how popular adjustable-rate mortgages (ARMs) were back then. And after years of being virtually nonexistent, more people are once again using ARMs when buying a home. Let’s break down why that’s happening and why this isn’t cause for concern.
Why ARMs Have Gained Popularity More RecentlyThis graph uses data from the Mortgage Bankers Association (MBA) to show how the percentage of adjustable-rate mortgages has increased over the past few years:
As the graph conveys, after hovering around 3% of all mortgages in 2021, many more homeowners turned to adjustable-rate mortgages again last year. There’s … (7 comments)

sell a house in salina kansas: Pricing Your House Right Still Matters In Salina Kansas - 08/04/23 03:44 PM

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.
To set yourself up to see advantages like these, you need to rely on an agent. Only an agent has the expertise needed to find the right asking price for your house. Here’s what’s at stake if that price isn’t accurate for today’s market value.
The price … (8 comments)

sell a house in salina kansas: Homebuyers Are Getting Used to the New Normal - 07/20/23 02:32 AM

Before you decide to sell your house, it’s important to know what you can expect in the current housing market. One positive trend right now is homebuyers are adapting to today’s mortgage rates and getting used to them as the new normal.
To better understand what’s been happening with mortgage rates lately, the graph below shows the trend for the 30-year fixed mortgage rate from Freddie Mac since last October. As you can see, rates have been between 6% and 7% pretty consistently for the past nine months:
According to Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), mortgage rates play a significant role in buyer demand and, by … (6 comments)

sell a house in salina kansas: Reasons Your Home May Not Be Selling - 07/12/23 07:20 PM

When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling.
If you're having trouble getting your house to sell in today's sellers’ market, here are a few things to think about.
Limited Access – If You Can’t Show It, You Can’t Sell It.One of the … (4 comments)

sell a house in salina kansas: Today’s Housing Inventory Is a Sweet Spot for Sellers - 07/11/23 03:22 AM

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 … (4 comments)

sell a house in salina kansas: Decoding Real Estate Jargon: Key Terms Explained - 07/10/23 04:30 AM
The real estate world overwhelms individuals with its complex terms and jargon. Whether you're a first-time homebuyer, an investor, or simply interested in understanding the intricacies of the market, it's crucial to decode these terms to make informed decisions. In this blog, we will demystify some of the most commonly used real estate jargon, empowering you to navigate the realm of property confidently.
Appraisal
An appraisal refers to the process of estimating the value of a property. An appraiser evaluates location, condition, size, comparable sales, and market trends to determine an accurate value. People typically conduct appraisals during mortgage applications or when … (5 comments)

sell a house in salina kansas: Building Positive Habits: Unlocking Your Potential for Productivity and Self-Improvement - 06/09/23 01:14 AM
                Developing positive habits plays a crucial role in our quest for personal growth and a fulfilling life. The practices we cultivate shape our actions, productivity, motivation, and overall well-being. In this blog post, we will explore practical advice and effective strategies to build positive habits, enhance productivity, boost motivation, and embark on a journey of self-improvement.
     Understanding the Power of Habits: Habits are the building blocks of our daily lives. They shape our routines and behaviors, often operating on autopilot. By understanding the science behind habits and their formation, we can take control and intentionally create positive habits … (7 comments)

sell a house in salina kansas:   Embracing Change: A Journey of Personal Growth - 06/08/23 02:01 AM
                Change is an inevitable and constant aspect of life. From birth until our last breath, we find ourselves navigating through a series of big and small changes. While change can often be daunting and unsettling, it is through embracing these transformations that we embark on a journey of personal growth. This blog will explore the power of embracing change and how it can positively impact our lives.
     The Nature of Change: Change is integral to our existence. Whether it's changing in our relationships, careers, or even within ourselves, each transition offers … (5 comments)

sell a house in salina kansas: Navigating the Home Selling Process in Salina, Kansas - 05/03/23 02:20 AM
Selling your home can be an emotional roller coaster ride, leaving you overwhelmed and stressed. But with some guidance and preparation, selling your home in Salina, Kansas, can be a smooth and successful journey. Here's everything you need to know about selling your home in Salina, from timing your sale to closing the deal.
Timing is Everything The timing of your home sale is crucial. Before you put your home on the market, take the time to understand the local real estate market and determine the best time to sell. Salina has a robust real estate market with a relatively low inventory … (4 comments)

sell a house in salina kansas: Trying To Buy a Home? Hang in There. - 04/08/23 06:02 AM
We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them.
Long-Term Benefits Outweigh Short-Term ChallengesOwning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out … (3 comments)

sell a house in salina kansas: Two Reasons You Should Sell Your House - 04/04/23 03:57 AM
Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below):
Let’s break those reasons down and explore how they might resonate with you.
1. I Want To Take Advantage of the Current Market and Make a ProfitWhen you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, … (4 comments)

sell a house in salina kansas: We’re in a Sellers’ Market. What Does That Mean? - 03/31/23 11:38 AM
Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house?
It starts with the number of homes available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or … (2 comments)

sell a house in salina kansas: "Maximize Your Home's Value: Using a Real Estate Agent is the Key to a Successful Sale" - 03/26/23 08:32 PM
Using a real estate agent to sell your home can provide several benefits, including:
Expertise: Real estate agents are experts in the home selling process. They can guide pricing, marketing, and negotiating the sale of your home. Their experience can be invaluable in helping you navigate the complexities of the real estate market. Market knowledge: Real estate agents have access to a wealth of information about the local real estate market, including recent sales, market trends, and pricing data. This can help you price your home competitively and attract the right buyers. Marketing: Real estate agents have the resources and expertise … (2 comments)

sell a house in salina kansas: 2 Things Sellers Need To Know This Spring in Salina Kansas - 03/20/23 06:09 PM
A lot has changed over the past year, and you might be wondering what’s in store for the spring housing market. If you’re planning to sell your house this season, here’s what real estate experts are saying you should keep in mind.
1. Houses That Are Priced Right Are Still SellingHouses that are updated and priced at their current market value are still selling. Jeff Tucker, Senior Economist at Zillow, says:
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”The need to price your house right is so important today because the market has … (0 comments)

sell a house in salina kansas: Should You Still Buy a Home with the Latest News About Inflation? - 02/02/23 02:56 PM
While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and fueled the fire for conversations about a recession.
You’re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch it’s creating on your wallet, and the looming economic uncertainty may leave you wondering: “should I still buy a home right now?” If that question is top of mind, here’s what you need to know.
Homeownership Is Historically a Great Hedge Against Inflation In an inflationary economy, prices … (6 comments)