Key Skills You Need Your Listing Agent To Have
Key Skills You Need Your Listing Agent To Have Selling your house is a big decision. And that can make it feel both exciting and a little bit nerve-wracking. But the key to a successful sale is finding the perfect listing agent to work with you throughout the process. A listing agent, also known as a seller's agent, helps market and sell your house while advocating for you every step of the way. But, how do you know you've found the perfect match in an agent? Here are three key skills you’ll want your listing agent to have. They Price Your House Based on the Latest Data While it may be tempting to pick the agent who suggests the highest asking price for your house, that strategy may cost you. It’s easy to get caught up in the excitement when you see a bigger number, but overpricing your house can have consequences. It could mean it’ll sit on the market longer because the higher price is actually deterring buyers. Instead, you want to pick an agent who’s going to have an open conversation about how they think you should price your house and why. A great agent will base their pricing strategy on solid data. They won't throw out a number just to win your listing. Instead, they'll show you the facts, explain their pricing strategy, and make sure you're on the same page. As NerdWallet explains: “An agent who recommends the highest price isn't always the best choice. Choose an agent who backs up the recommendation with market knowledge.” They’re a Great Negotiator The home-selling process can be emotional, especially if you’ve been in your house for a long time. You’re connected to it and have a lot of memories there. This can make the negotiation process harder. That’s where a trusted professional comes in. A skilled listing agent will be calm under pressure and will be your point-person in all of those conversations. Their experience in handling the back-and-forth gives you with the peace of mind that you've got someone on your side who’s got your best interests in mind throughout this journey. They’re a Skilled Problem Solver At the heart of it all, a listing agent's main priority is to get your house sold. A great agent never loses sight of that goal and will help you prioritize your needs above all else. If they identify any necessary steps you need to take, they’ll be open with you about it. Their commitment to your success means they'll work with you to address any potential roadblocks and find creative solutions to anything that pops up along the way. BankRate explains it like this: “Just as important as the knowledge and experience agents bring is their ability to guide you smoothly through the process. Above all, go with an agent you trust and will feel comfortable with. . .” Bottom Line Whether you're a first-time seller or you’ve been through selling a house before, a great listing agent is the key to success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.
Are You a Homebuyer Worried About Climate Risks?
Are You a Homebuyer Worried About Climate Risks? The increasing effects of natural disasters lead to new obstacles in residential real estate. As a recent article from CoreLogic explains: “As the specter of climate change looms large, the world braces for unprecedented challenges. In the world of real estate, one of those challenges will be the effects of natural catastrophes on property portfolios, homeowners, and communities.” That may be why, according to Zillow, more and more Americans now consider how climate risks and natural disasters can impact their homeownership plans (see below): This study explains that climate risks affect where many people look for a home. Homebuyers are interested in discovering if the house they want will be exposed to floods, extreme heat, and wildfires. If you’re in the same situation and are thinking about what to do next, here’s some critical information to consider as you start looking for a home. Expert Advice for Homebuyers To Reduce Climate Risks The first thing to do is understand how to buy a home while considering climate risks. With the right help and resources, you can simplify the process. The Mortgage Reports provides these tips for buying your next home: Evaluate climate risks: Before buying a home, it's essential to check if it's in a flood-prone area using the FEMA website, review the seller's property disclosure for any past damage, and get an inspection for issues like cracks and mold to make sure it's a safe investment. Consider future preventative maintenance costs: For areas that get tropical storms, you may need to purchase hurricane shutters and sandbags to protect the home. In wildfire-prone areas, you may want to clear plants five feet from the house, consider rooftop sprinklers, or buy gutter guards to prevent fire hazards. Factor these future expenses in when touring homes that may need them. Take steps to avoid losing your assets: Getting the right insurance for a home in a high-risk climate area is crucial. Before bidding on a home, you should shop around and talk to multiple insurance agents to compare prices and options. Above all else, your most valuable resource during this process is a trusted real estate expert. They'll always focus on your goals while keeping your concerns in mind. Even if they don't know how your home can handle natural disasters, they can connect you with the right experts and information. Bottom Line If you want to buy a home, but you're also thinking about climate risks, you're not alone. Your home is a big investment; if anything can impact that, you want to know. Let’s connect so you have someone you can trust to guide you as you find your next home.
Discovering the Advantages of Becoming a First-time Homeowner
Understanding the Benefits of Owning Your First Home Are you considering buying your first home? If so, knowing what led other people to make that decision can be helpful. According to a recent survey of first-time homebuyers by PulteGroup: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the desire to stop renting or recognition that homeownership is a smart financial investment was the main motivator for 72% of respondents.” While that survey looked explicitly at first-time homebuyers buying newly built homes, the same sentiment is true for anyone buying their first home. Here’s a bit more information to help you think about those two benefits of homeownership to see if they’re a crucial factor for you, too. When You Buy a Home, You Have More Stability than When You Rent You might want to stop renting because rents keep going up. If you’re a renter, that means there’s a chance your payment will increase each time you sign a new rental agreement or renew your current one. On the other hand, when you buy your home with a fixed-rate mortgage, your monthly housing payment is predictable over the length of that loan. This stability can give you peace of mind that renting just can’t provide. Jeff Ostrowski, real estate journalist, breaks it down: “With a fixed-rate mortgage, your monthly principal and interest payment is set for as long as you keep the loan. Sign a rental lease, however, and you could see your rent rise the following year, the year after that and so on.” When You Buy a Home, You Grow Your Wealth as Home Values Climb Beyond that, owning a home can also be an excellent long-term investment. While renting may be the more affordable option, it doesn’t allow you to grow your wealth over time. Mark Fleming, Chief Economist at First American, explains that’s an important distinction to consider: “Given current dynamics, more young households may choose to rent in the near term as the cost to own, excluding house price appreciation, has unequivocally increased. Yet, accounting for house price appreciation in that cost of homeownership, whether to rent or buy will depend on where, and if, a home is likely to cost more or less in the near future.” Basically, renting doesn’t allow you to build equity. In contrast, homeownership can help you grow your net worth as your home’s value appreciates. That’s a significant perk you can’t get if you keep renting. When you take that into account, it may make better financial sense to buy. Most experts project home prices will continue to appreciate over the next few years at a more normal pace for the market. That means when you buy a home, not only are you investing in a place to live, but you’re also investing in your financial future. Bottom Line If you're ready, buying your first home instead of renting can be smart. Let’s connect so you can stabilize your housing payment and start building wealth for your future.
Home Prices Are Not Falling
Home Prices Are Not Falling During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the strength of the residential real estate market. If it made you question if you should delay your own plans to move, here’s what you really need to know. Home Prices Never Crashed Disregard what you saw in the headlines. The actual data shows home prices were remarkably resilient and performed far better than the media would have you believe (see graph below): This graph uses reports from three trusted sources to clearly illustrate prices have already rebounded after experiencing only slight declines nationally. That’s a far cry from the crash so many articles called for. The declines that did happen (shown in red), weren’t drastic but were short-lived. As Nicole Friedman, a reporter at the Wall Street Journal (WSJ), says: “Home prices aren’t falling anymore. . . The surprisingly quick recovery suggests that the residential real-estate downturn is turning out to be shorter and shallower than many housing economists expected . . .” Even though some media coverage made a big deal about home prices pulling back, the slight correction that happened is already in the rearview mirror. Basically, this data shows you home prices aren’t falling anymore – they’re actually going back up. What’s Next for Home Prices? The consensus from experts is that home price growth will continue in the years ahead and is returning to normal levels for the market. That means we’ll still see home prices appreciating, just at a slower pace than the last few years – and that’s a good thing. Some news sources will see home price growth slowing and put out stories that make you think prices are falling again. The return of misleading headlines like those is already having an impact on how homebuyers are feeling again. You can see how this affects general opinion in the Consumer Confidence Survey from Fannie Mae (see graph below): While the percentage of Americans who think prices will fall has been slowly declining this year, the latest Consumer Confidence data indicates that’s ticked back up recently (shown in red). This change is surprising especially since the home price data shows prices are going up, not down. It tells you the impact the media still has on public opinion. Don’t fall for the negative headlines and become part of this statistic. Remember, data from a number of sources shows home prices aren’t falling anymore. Bottom Line Even though the media may make things sound doom and gloom, the data shows home prices aren’t falling anymore. So, don’t let the headlines scare you or delay your plans. Let's connect so you have a trusted resource to cut through the noise and tell you what’s really happening in our area.
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