Thanks to a historic inventory crisis, rising home prices, and stiff competition for property, the vast majority of markets across the US currently favor sellers. And according to most experts, it looks like that trend is going to continue.
According to a recent survey from Zillow, 76% of experts surveyed said they didn’t expect to see national market conditions shift from a seller’s market to a buyer’s market until 2020.
This is obviously good news for sellers—but it doesn’t mean you should wait until 2020 to put your home on the market. According to recent Zillow data, the rate of home appreciation is slowing in markets around the country, and as a result many sellers are having to slash their home prices in order to sell (according to Zillow’s data, 14% of all homes on the market had a price cut in June 2018).
If you’ve been thinking about selling your home, now is the time to make a move. While most experts predict conditions will remain favorable for sellers through 2020, according to current data, conditions aren’t likely to be as favorable over the next few years as they are today.
A lot of people think the best time to buy a house is during the Spring market.
And, it is…
…in the sense that more houses are listed for sale in the Spring. But, there’s also a heck of a lot more buyers trying to buy those listings.
The thing is, some of the houses listed back in the Spring don’t end up selling. (Usually just because they were overpriced.)
Now, it isn’t like new listings don’t happen in the Fall. There’s always new listings coming on the market. But it’s not like, just because it’s Fall and not Spring, prices are necessarily going to fall. In other words, new listings aren’t likely to list for a lot lower than you would have seen in the Spring.
However, the homeowners who did list back in the Spring, are much more likely to be anxious (perhaps even desperate) to sell their home. They’ve created their own problem…they missed the boat by pricing too high.
Which is great news for you, if you’re looking to buy a home:
- Less competition. (Many buyers stop looking at this time of year…for no good reason.)
- Motivated sellers. (They’re sick of being on the market, and wondering why nobody bought their house.)
But it isn’t always easy to find those listings. They don’t wave a white flag, or lower their price to some ridiculous amount everyone would notice. If only it were that easy…
Just because someone listed their home back in the Spring doesn’t mean they’ll be all that negotiable.
There are certain things a great real estate agent will know to look for.
And I love rolling up my sleeves and finding the ones we can most...
It’s that time again. Soon, the cutest ghouls and goblins will be prancing from door to door asking for tricks or treats. Here’s some inspiration to make your carvings stand out from the rest!
1. This image is based on Jack from “The Nightmare before Christmas.”
2. For the little ghouls who like to rock out.
3. This one would be perfect with a recording of “I am Groot!” playing in the darkness.
4. What kid doesn’t love this hedgehog?
5. Maybe add a sign: “Warning - this pumpkin will eat all your treats!”
So you’ve decided to purchase your first home. Congratulations! Purchasing a home is a huge decision, and it can be one of the most exciting and rewarding experiences of your life.
But purchasing a home requires capital, and if your savings account is looking a little trim, it means that you will have to do some budgeting in the upcoming year to make your dream of being a homeowner a reality.
Here are 7 budgeting tips to help you buy your first home:
1. Track Everything You Spend
You will not be able to make any major changes to your budget if you don’t have a firm understanding of how your money is being spent. Tracking everything you spend for a month will show you exactly how much you’re spending, where you’re spending it, how much of your budget is going towards necessities and how much of your budget is going towards luxuries.
You can keep track of all of your expenses in a spreadsheet, but a better strategy is to use a spending tracker like Mint or Prosper Daily (formerly BillGuard). These apps link to all of your accounts and will track and categorize your spending, making it easy to visualize where your money is going.
2. Identify Areas To Cut Back
Once you know where your money is going, it’s time to identify the areas where you can cut back and save additional funds to put towards your down payment. Every household will be different, but when you’re saving for a house, anything that’s not a necessity (like rent or medical insurance) should be considered an area where you can cut back.
Things like eating out, daily Starbucks and an expensive gym membership are great, but...