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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What’s Ahead for Home Prices?


There’s a saying in real estate: You marry the home, but date the rate!

As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward?

While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today.

What the Experts Are Saying About Home Prices Next Year

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What Are Experts Saying About the Fall Housing Market?

 

The housing market is rapidly changing from the peak frenzy it saw over the past two years. That means you probably have questions about what your best move is if you’re thinking of buying or selling this fall.

To help you make a confident decision, lean on the professionals for insights. Here are a few things experts are saying about the fall housing market.

Expert Quotes for Fall Homebuyers

A recent article from realtor.com:

“This fall, a more moderate pace of home selling, more listings to choose from, and softening price growth will provide some breathing room for buyers searching for a home during what is typically the best time to buy a home.”

Michael Lane, VP and General…

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Top Reasons Homeowners Are Selling Their Houses Right Now



Some people believe there’s a group of homeowners who may be reluctant to sell their houses because they don’t want to lose the historically low mortgage rate they have on their current home. You may even have the same hesitation if you’re thinking about selling your house.

Data shows 51% of homeowners have a mortgage rate under 4% as of April this year. And while it’s true mortgage rates are higher than that right now, there are other non-financial factors to consider when it comes to making a move. In other words, your mortgage rate is important, but you may have other things going on in your life that make a move essential, regardless of where rates are today. As Jessica Lautz, Vice…

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Getting Your House Ready To Sell? Work with an Agent for Expert Advice


In a market that’s shifting as fast as it is today, many homeowners wonder what, if anything, needs to be renovated before they sell their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn’t – do before selling your house.

Here are some considerations a professional will guide you through.

What You Need To Know About Your Local Market

Since the supply of homes for sale has increased so much this year, today’s buyers have more options than they had last year. That may mean you’re not able to ignore some of those repairs or cosmetic updates you could…

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