2 Things Sellers Need To Know This Spring

Photo: Annika Heaton-Brandt

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 Selling

Houses 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 changed so much over the past year. Danielle Hale, Chief Economist…

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How To Make Your Dream of Homeownership a Reality


According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits, so that interest is understandable.

However, it’s unlikely all 28 million Americans will accomplish that goal in the coming year. Experts project a total of around five million homes will be sold in 2023. Why is there such a big difference? It’s partly because there can be challenges to buying a home.

In the same survey, when asked, “Which of the following are preventing you from pursuing homeownership at this time?”:

  • 34% answered, “I don’t have enough saved for…

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Experts Forecast a Turnaround in the Housing Market in 2023


The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose last year.

Now, as we move through 2023, there are signs things are finally going to turn around. Home price appreciation is slowing from the recent frenzy, mortgage rates are coming down, inflation is easing, and overall market activity is starting to pick up. All of that’s great news for the housing market this year. Here’s what experts are saying.

Cristian deRitis, Deputy Chief Economist, Moody’s Analytics:

“The current state of the housing market is that it is certainly in transition.”

Susan Wachter, Professor of Real Estate and Finance, University…

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Think Twice Before Waiting for 3% Mortgage Rates



Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares:

“While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”

That’s potentially great news if…

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What Are Your Goals in the Housing Market This Year?

If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus.

In the last year, high inflation had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, explains:

“The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so…

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Homeowners Still Have Positive Equity Gains over the Past 12 Months



If you’re a homeowner, your net worth got a big boost over the past few years thanks to rapidly rising home prices. Here’s how it happened and what it means for you, even as the market moderates.

Equity is the current value of your home minus what you owe on the loan.

Because there was a significant imbalance between the number of homes available for sale and the number of buyers looking to make a purchase over the past few years, home prices appreciated substantially.

And while home price appreciation has moderated this year, and even depreciated slightly in some overheated markets, that doesn’t mean you’ve lost all the equity you gained during the pandemic frenzy.

To…

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Prioritizing Your Wants and Needs as a Homebuyer in Today’s Market


There’s no denying mortgage rates are higher now than they were last year. And if you’re thinking about buying a home, this may be top of mind for you. That’s because those higher rates impact how much it costs to borrow money for your home loan. As you set out to make a purchase this winter, you’ll need to be strategic so you can find a home that meets your needs and budget.

Danielle Hale, Chief Economist at realtor.com, explains:

The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, . . . Another key point is to avoid stretching your budget, as tempting as it may be given the diminished…

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It’s Still a Great Time to Buy in Minneapolis

Inflation is high and interest rates are up—is this really the time to buy a house? Experts say, yes. Here are three reasons why buying a house right makes good sense.

Homeownership is a great hedge against inflation
It seems like prices are going up just about everywhere, but if you’re locked into a stable rate for the duration of your loan, your house payment will always stay the same. Unlike renting which typically renews (and often rises) annually, owning a home allows you to stabilize what is most likely your largest monthly payment.

There is less competition for houses
Unlike the craziness of the pandemic days when hot markets saw dozens of bidders frantically hoping to beat the competition,…

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Public Service Announcement: Bonus Depreciation is Going Away!

Did you know that one of the most incredible tax benefits of owning real estate is going away at the end of this year? That’s right, at the end of 2022 you can say goodbye to 100% bonus depreciation. Well, it’s not completely going away, but it will be phasing out over the coming years. Here’s how that looks:

2023 = 80%
2024 = 60%
2025 = 40%
2026 = 20%
2027 = 0%

So, for those who aren’t complete tax nerds, what exactly is Bonus Depreciation? Bonus Depreciation only came into existence in 2017 with the Tax Cuts and Jobs Act’s (TCJA), and truthfully, it’s been pretty awesome for the past 5 years.

Depreciation is just the IRS’s way of recognizing that things wear out over time and thus…

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BET ON THE JOCKEY, NOT THE HORSE: Five Traits to Look for in an Operator & Important Questions to Ask

How do you find the right team to help you reach your investment goals? Here are five things to keep in mind and questions to ask to help determine if your operator is the right fit for you.

Personality
Are they smart and hardworking? Do they have integrity? Take the time to find the right personality fit, and never rush into a deal or partnership.

Track Record
Don’t just look at how previous deals performed. Look at how they performed relative to the original business plan. Did the operator project a 20% IRR but only deliver 17%? That’s not a terrible return, but it’s suspicious when compared with the original objective.

Team
Apartment…

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