Where affordability concerns dominate headlines, potential home sellers, especially baby boomers, find themselves at a crossroads. Conventional wisdom suggests that waiting for mortgage rates to drop or prices to decrease is the prudent approach, but if you are downsizing, you stand to gain more than the conventional buyer who is borrowing. Let's explore some of the ways that baby boomers can win by selling now.

Mortgage Rates

Mortgage rates are hovering between 7-8%, which effectively creates a buyer's market for home buyers, who are not financing. A significant portion of potential buyers have been sidelined, providing a unique opportunity for those willing to navigate the challenges. According to a recent report by NAR, repeat buyers & people…

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Primary motivations for buying or selling a home, are infrequently related to mortgage rates, however, so much news reporting on rates can cloud decision-making around moving. If you're contemplating putting your house on the market in the Research Triangle Park area, it's likely due to a change unrelated to the FED. Mortgage rates are a factor that plays a pivotal role in your decision-making process, but they should not overshadow the primary reasons that prompted you to consider a move in the first place.

We cannot ignore that higher mortgage rates impact affordability, leading some homeowners to postpone selling, because they are nervous about securing a new home and borrowing at a higher rate. But there are other lifestyle changes and needs…

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The "American Dream" foundation is often, homeownership. It signifies stability, independence, and attainment of a place of ones own. However, for Generation Z, born between 1997 and 2012, there are significant barriers to homeownership in the present market and making this dream a reality can be quite challenging because of higher mortgage rates and higher home prices than previous generations. This should not deter a whole generation from homebuying, because even outside of the "dream" it is a great way to stabilize your finances and build wealth and owning your first home can be attainable with the right strategic planning and resourcefulness.

Down Payment Assistance Programs

While home prices are not on the meteoric rise that they had been…

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There have been some moments this year, that Realtors have not been proud to show. Barbicore is one that is truly an acquired taste, and as we begin to close out 2023, we look forward to new trends that make our jobs, just a bit easier. Here is a pop quiz style list compiled from designer insights and consumer feedback, and what trends will last into 2024 and what trends will stay behind in 2023.

1. All-white Bathrooms, In or out?

Out! According to a survey by Fixr.com, over a quarter of interior designers are ready to bid farewell to all-white bathrooms. A shift is being made towards more vibrant shower tiles and jewel tones.

 

 

2. Patios to the Max, In or out?

In! With contingencies. Homeowners have been maximizing their outdoor…

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If you are putting off moving because you think that home prices will go down, you may want to rethink this strategy. There are a number of factors that have all experts predicting home prices continuing to rise. While the market may cool, and prices will likely not be going up by the soaring amounts that we saw in 2020 and 2021, {locally upwards of 20%}, make no mistake they are continuing to rise. Let's discuss the factors that come into play, latest data, and what strategies we think will be winners in the last quarter of 2023, and into 2024.

But what if prices drop?

If you put off moving because you're worried home prices might drop, you may want to rethink this strategy. Despite a massive increase in prices and the market correction in…

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It might be hard to believe, but we are seeing incredibly high demand for homes. It is not something new and housing experts have predicted that we would be seeing housing constriction for some time, but when homes come to market, they sell quickly, and generally for great terms. More significant than the demand for homes, is the constriction of inventory. For those contemplating the idea of listing their home, this presents a true advantage if your home is priced correctly. Let's dive into the all-important question. Will more homes be coming to market?

Spring, Summer, Fall Trends, in Reverse?

Traditionally, the peak of the housing market occurs is the spring buying season, and sellers in turn prepare homes to sell in the fall or winter months.…

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If you are like many baby boomers and considering cashing in on equity and favorable conditions for sellers, questions around whether you will move, or age in place, may be top of mind. Many people making this decision are considering whether they should buy a smaller home or if they should rent. While the answer to this question hinges on your individual circumstances, we have compiled some of the most important factors to weigh.

Rising Rents

Utilizing national census data, the trend clearly illustrates a consistent upward trajectory of rents since 1988. While opting to rent may seem like a good option, you could expose yourself to a higher rental payment over time. This is especially problematic if you are on a fixed income.

Conversely,…

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Renovate, reduce, and receive; renovate your home, reduce your carbon footprint, and receive tax breaks, it is all possible thanks to the 2022 Inflation Reduction Act (IRA) and other related local laws. You may be able to save thousands of dollars annually and according to the IRS, it is estimated that up to nine million people missed out on these benefits in 2021. Let's break down how you can be saving in taxes, in bills, while reducing your carbon footprint. 

Tax Incentive Terms to Know:

One of the reasons people do not take advantage of tax incentives is lack of understanding of the terminology. Here are some terms you need to know.

  • Tax Credit: These are direct reductions in your tax bill.

  • Tax Incentive: These, like other…

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Purchasing a home is one of the most important financial decisions you will ever make. In the current real estate landscape, where we are post pandemic, low inventory, and with fluctuating interest rates, it is imperative that you have an expert guiding your hand in a decision of this magnitude. Whether you're a first-time buyer or a seasoned seller, partnering with an expert who has decades of experience analyzing historical data in addition to block on block local knowledge will be essential to making sound decisions and protecting your investments.

Experience is Key

No one is perfect and no Realtor is a mind reader, however, Realtors with more experience have the ability to put mortgage rates, home negotiation and pricing, and discussions…

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Moving signals a time of great change. The process can be exciting and daunting as we let go of things, literally and metaphorically. It can be stressful in the best of circumstances whether you hire a mover or not, so if you have made to hire a mover, you should not skip the step of vetting your mover. Finding a reliable and trustworthy service and exercising caution in packing, is worth much more than your belongings, it is your peace of mind. Here are some resources to help you find great movers, why you should exercise great caution in choosing them, and resources in the event you have fallen victim to a moving scam in the Triangle.

How Common are Moving Scams?

Moving scams are unfortunately more prevalent than one might think. According to…

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