rock solid choice: Owning a Home Helps Protect Against Inflation
- 06/02/23 05:39 AM
Owning a Home Helps Protect Against Inflation
You're probably feeling the impact of high inflation every day as prices have gone up on groceries, gas, and more. If you're a renter, you're likely experiencing it a lot as your rent continues to rise. Between all of those elevated costs and uncertainty about a potential recession, you may be wondering if it still makes sense to buy a home today. The short answer is it does. Here's why.
Homeownership actually shields you from the rising costs inflation brings.
Freddie Mac explains how:
Not only will buying today help you begin to build equity, a fixed-rate … (8 comments)
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rock solid choice: The Benefits of Selling Now, According to Experts
- 05/31/23 05:17 AM
The Benefits of Selling Now, According to ExpertsIf you're trying to decide if now's the time to sell your house, here's what you should know. The limited number of homes available right now gives you a big advantage. Thats because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.
Here's what industry experts are saying about why selling now has its benefits:
Lawrence Yun, Chief Economist at the National Association of Realtors … (3 comments)
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rock solid choice: Homeowners Have Incredible Equity To Leverage Right Now
- 05/30/23 05:07 AM
Homeowners Have Incredible Equity To Leverage Right NowEven though home prices have moderated over the last year, many homeowners still have an incredible amount of equity. But what is equity? In the simplest terms, equity is the difference between the market value of your home and the amount you owe on your mortgage. The National Association of Realtors (NAR) explains how your equity grows over time:
Housing wealth (home equity or net worth) gains are built up through price appreciation and by paying off the mortgage.How Your Equity Can Help You Achieve Your GoalsThe equity you build up over the years can … (2 comments)
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rock solid choice: Why it is Important to Drain Your Water Heater
- 05/28/23 05:29 AM
Why it is Important to Drain Your Water HeaterWe are so used to getting hot water in our home without a thought, until something goes wrong with our water heater, or it stops working. A cold shower or a leak can take us by surprise and are signs that the water heater is not working properly. This can happen when we neglect to periodically drain it. A water heater needs to be drained and flushed as part of its maintenance routine. Why is this so important? Over time sediment from minerals and other deposits in the water build up in the … (8 comments)
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rock solid choice: The Worst Home Price Declines Are Behind Us
- 05/26/23 05:27 AM
The Worst Home Price Declines Are Behind UsIf you're following the news today, you may feel a bit unsure about what's happening with home prices and fear whether or not the worst is yet to come. Thats because todays headlines are painting an unnecessarily negative picture. Contrary to those headlines, home prices aren't in a freefall. The latest data tells a very different and much more positive story. Local home price trends still vary by market, but here's what the national data tells us.
If we take a year-over-year view, home prices stayed positive they just appreciated more slowly than they did … (6 comments)
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rock solid choice: What You Need To Know About Home Price News
- 05/25/23 05:56 AM
What You Need To Know About Home Price NewsThe National Association of Realtors (NAR) will release its latest Existing Home Sales Report tomorrow. The information it contains on home prices may cause some confusion and could even generate some troubling headlines. This all stems from the fact that NAR will report the median sales price, while other home price indices report repeat sales prices. The vast majority of the repeat sales indices show prices are starting to appreciate again. But the median price reported on Thursday may tell a different story.
Here's why using the median home price as a gauge of what's … (4 comments)
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rock solid choice: Powerful Job Market Fuels Homebuyer Demand
- 05/23/23 06:01 AM
The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger.
One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes it clear more people are out looking at homes than there were prior to the pandemic (see graph below):
And though theres less traffic than the buyer frenzy of the past couple of years, were not far off that pace. There … (6 comments)
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rock solid choice: Home Renovations that Offer the Best ROI for Resale
- 05/21/23 05:53 AM
Home Renovations that Offer the Best ROI for ResaleAre you looking to sell your home and concerned about its resale value? If you last updated, upgraded, or refurbished a while ago, your home could show signs of wear and tear that could negatively impact the sale when you try to appeal to buyers. Whether you have a large or limited budget, you can make the much-needed changes that can increase the value of your home and attract home buyers. Here is a list of top-rated home renovation ideas that offer the best ROI for resale.
Boosting Curb Appeal—It’s always best to begin … (7 comments)
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rock solid choice: It May Be Time To Consider a Newly Built Home
- 05/19/23 05:02 AM
It May Be Time To Consider a Newly Built Home
If you're looking to buy a house, you may find todays limited supply of homes available for sale challenging. When housing inventory is as low as it is right now, it can feel like a bit of an uphill battle to find the perfect home for you because there just isn't that much to choose from. If you need to open up your pool of options, it may be time to consider a newly built home.
According to the latest data from the U.S. Census, there's positive news when it comes to new … (5 comments)
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rock solid choice: Why Todays Housing Market Is Not About To Crash
- 05/18/23 06:29 AM
There's been some concern lately that the housing market is headed for a crash. And given some of the affordability challenges in the housing market, along with a lot of recession talk in the media, its easy enough to understand why that worry has come up.
But the data clearly shows todays market is very different than it was before the housing crash in 2008. Rest assured, this isnt a repeat of what happened back then. Heres why.
Its Harder To Get a Loan NowIt was much easier to get a home loan during the lead-up to the 2008 housing crisis than it … (3 comments)
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rock solid choice: The Impact of Inflation on Mortgage Rates
- 05/16/23 06:24 AM
The Impact of Inflation on Mortgage RatesIf you're reading headlines about inflation or mortgage rates, you may see something about the recent decision from the Federal Reserve (the Fed). But what does it mean for you, the housing market, and your plans to buy a home? Here's what you need to know.
Inflation and the Housing MarketWhile the Feds working hard to lower inflation, the latest data shows that, while the number has improved some, the inflation rate is still higher than the target (2%). That played a role in the Fed's decision to raise the Federal Funds Rate last week. As Bankrate … (9 comments)
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rock solid choice: Low-Cost DIY Summer Projects
- 05/14/23 06:29 AM
Low-Cost DIY Summer ProjectsNow that spring is fully here, this is a perfect time to prepare for how you want your home’s exterior and property to look and function for the summer. It’s also fun to find new activities to pre-occupy your time as an excuse to be out on warm, sunny days. You could choose to do renovations or purchase new outdoor appliances and furniture if that is within your budget. However, there are many easy and less costly ways to enhance and beautify your yard and exterior without calling on a professional landscaper or contractor. At the same time, … (2 comments)
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rock solid choice: The Best Time To Sell Your House Is When Others Aren't Selling
- 05/13/23 05:56 AM
The Best Time To Sell Your House Is When Others Aren't Selling
If you're thinking about selling your house, you should know the number of homes for sale right now is low. Thats because, this season, there are fewer sellers listing their houses for sale than the norm.
Looking back at every April since 2017, the only year when fewer sellers listed their homes was in April 2020, when the pandemic hit and stalled the housing market (shown in red in the graph below). In more typical years, roughly 500,000 sellers add their homes to the market in April. This year, we saw … (7 comments)
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rock solid choice: Why Buying a Home Makes More Sense Than Renting Today
- 05/12/23 05:24 AM
Why Buying a Home Makes More Sense Than Renting TodayWondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. Thats because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988.
And, data from the latest rental report from Realtor.com shows rents continue to grow today, even though its at a slower pace than we saw at the height of the pandemic:
In March 2023, the U.S. rental market experienced single-digit growth for … (3 comments)
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rock solid choice: A Recession Doesn't Equal a Housing Crisis
- 05/11/23 06:33 AM
A Recession Doesn't Equal a Housing Crisis
Everywhere you look, people are talking about a potential recession. And if youre planning to buy or sell a house, this may leave you wondering if your plans are still a wise move. To help ease your mind, experts are saying that if we do officially enter a recession, itll be mild and short. As the Federal Reserve explained in their March meeting:
. . . the staffs projection at the time of the March meeting included a mild recession starting later this year, with a recovery over the subsequent two years. While a recession may … (6 comments)
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rock solid choice: Buyer Activity Is Up Despite Higher Mortgage Rates
- 05/10/23 06:55 AM
Buyer Activity Is Up Despite Higher Mortgage RatesIf you're a homeowner thinking about making a move, you may wonder if its still a good time to sell your house. Here's the good news. Even with higher mortgage rates, buyer traffic is actually picking up speed.
Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, helps paint the picture of how much buyer demand has increased in recent months (see graph below):
As the graph shows, the first two months of 2023 saw a noticeable increase in buyer traffic. Thats likely because the limited number of homes for … (5 comments)
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rock solid choice: How Homeowners Win When They Downsize
- 05/08/23 06:18 AM
How Homeowners Win When They Downsize
Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains:
Downsizing is somewhat common among older people and retirees who no longer have children living at home. But these days, younger people are also looking to downsize to save money on housing . . . And when inflation has made most things significantly more expensive, saving … (6 comments)
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rock solid choice: Spring Allergen Removal—Getting Air Ducts Clean
- 05/07/23 06:28 AM
Spring Allergen Removal—Getting Air Ducts CleanHave you experienced chronic ear, throat, or eye irritations, sneezing, coughing, dizziness, or headaches only while in your home and as soon as you use your HVAC system? It could be from poor air quality due to dirty air ducts. Even the American Lung Association recognizes indoor air quality as the catalyst for many allergy-related diseases. If you haven’t cleaned your ducts in 4 to 5 years, there will be an accumulation of contaminants such as dust, pollen, mold, bacteria, and other allergens recirculating by your HVAC system to the indoor air. Even new construction can … (4 comments)
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rock solid choice: The Power of Pre-Approval
- 05/06/23 05:33 AM
The Power of Pre-Approval
If you're buying a home this spring, todays housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, its essential to have a firm grasp on your homebuying budget. You'll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One thing you can do to help you prepare is to get pre-approved.
To understand why its such an important step, you need to know what pre-approval is. As part of the process, a lender looks at … (7 comments)
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rock solid choice: What Are the Experts Saying About the Spring Housing Market?
- 05/05/23 04:55 AM
What Are the Experts Saying About the Spring Housing Market?
The housing markets been going through a lot of change lately, and there's been uncertainty surrounding what will happen this spring. You may be wondering if more homes will go on the market, what's next with home prices and mortgage rates, or what the best advice is for someone in your position right now.
Here's what industry experts are saying right now about the spring housing market and what it means for you:
Selma Hepp, Chief Economist, CoreLogic: We see more competition among buyers . . . Housing supply also tends to grow … (6 comments)
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Owning a Home Helps Protect Against Inflation
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