The Number of Homes for Sale Is Increasing There’s no denying the last couple of years have been tough for anyone trying to buy a home because there haven’t been enough houses to go around. But things are starting to look up. There are more homes up for grabs this year. The graph below uses the latest data from Realtor.com to show in April 2024 there were more homes for sale than there were over the last few years (2021-2023):   As Realtor.com explains: “There were 30.4% more homes actively for sale on a typical day in April compared with the same time in 2023, marking the sixth consecutive month of annual inventory growth.” But does this growing inventory make house hunting easier? Yes and no. Using the latest weekly data from Calculated Risk, the graph below shows, that even with the growth lately, there are still way fewer homes for sale than there were in the last normal year in the housing market:   What Does This Mean for You? If you’ve been looking to buy but put your plans on hold because you just couldn’t find what you were searching for, you might see more options now than you did over the past few years – but don't expect a huge selection. To check out your growing options, it's a good idea to work with a local real estate agent you trust. Real estate is all about location. And an agent can help you get the scoop on the homes available in the area you're interested in. Bankrate explains: “In today’s homebuying market, it’s more important than ever to find a real estate agent who really knows your local area — down to your specific neighborhood — and can help you successfully navigate its unique quirks.” Bottom Line Let's team up so you have someone who can keep you in the loop on everything that might impact your move, like how many homes are up for sale right now.

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Why a Condo May Be a Great Option for Your First Home Having a hard time finding a first home that's right for you and your wallet? Well, here's a tip – think about condominiums, or condos for short. They're usually smaller than single-family homes, but that's exactly why they can be easier on your budget. According to the latest data from the National Association of Realtors (NAR), condos are typically less expensive than single-family homes (see graph below):   So, if you're comfortable with a smaller space and want to buy your first home this year, adding condos to your search might be easier on your wallet. Besides giving you more options for your home search and maybe fitting your budget better, living in a condo has a bunch of other perks, too. According to Rocket Mortgage: “From community living to walkable urban areas, condos are great options for first-time home buyers and people looking to enjoy homeownership without extensive upkeep.” Let’s dive into a few of the draws of condos for first-time buyers from Bankrate: They require less maintenance. Condos are great if you want to own your place but don't want to mow the lawn, shovel snow, or fix the roof. Your real estate agent can help explain any associated fees and details for the condos you’re interested in. They allow you to start building equity. When you buy a condo, you build equity and your net worth as you make your mortgage payments and as your condo’s value goes up over time. They often come with added amenities. Your condo might come with access to amenities like a pool, dog park, or parking. And the best part? You don’t have to take care of any of them. They provide you with a sense of community. Buying a condo means you'll be living close to other people, which is nice if you enjoy having neighbors around and making friends. Many condo communities hold fun events like barbecues and parties during holidays for everyone to enjoy.   Remember, your first home doesn't have to be the one you stay in forever. The important thing is to get your foot in the door as a homeowner so you can start to gain home equity. Later on, that equity can help you buy another place if you need something different. Ultimately, owning and living in a condo is a lifestyle choice. And if it’s one that appeals to you, they could provide the added options you need in today’s market. Bottom Line It might be a good idea to think about condos in your home search. If you're ready to see what's out there, let's get in touch today.

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Thinking of Selling? You Want an Agent with These Skills Selling your house is a big decision. Your home is one of the biggest investments you’ve probably ever made, and it’s a place where you’ve created countless memories. That combo means there’s going to be a lot of emotions involved. You want someone who understands your perspective, knows what it feels like, and is an expert at helping homeowners just like you navigate the process of selling a home. That’s where a good listing agent, also known as a seller's agent, comes in. Here are just a few skills you’ll want your agent to have. The Ability To Turn Something Complex into Something Simple Some agents are going to use big, fancy real estate terms to try and impress you. But you shouldn’t have to know all the industry jargon in order to understand what they’re saying. If anything, it's an agent’s job to keep it simple, so you don’t get overwhelmed or confused. A great agent is going to be someone who is very good at explaining what’s happening in the housing market in a way that’s easy to understand. But they’ll take it one step further than that. They’ll explain what’s going on and, specifically, what that means for you. That way you’re always in the loop and it's a lot easier to feel confident when you’re making a big decision. As Business Insider explains: “Maybe you have a better rapport with one of the agents you're considering, or you just feel like they're easier to approach. You're going to be working closely with this person, so it's important to choose an agent you're comfortable with.” A Data-Based Approach on How To Price Your House 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 your house will sit on the market longer because the higher price is actually turning away buyers. Instead, partner with an agent who’s going to have an open conversation about how they recommend you should price your house. They won't throw out a number just to win your listing. A great agent will back up their number with solid data, explain their pricing strategy, and make sure you're both 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.” A Fair, but Objective Negotiator The home-selling process can be emotional, especially if you’ve been in your house for a long time. But that sentimental tie can make it harder to be objective during negotiations. That’s where a trusted professional can really make a difference. They’re skilled negotiators who know how to stay calm under pressure. You can count on them to handle the back-and-forth and have your best interests at heart throughout the process. Not to mention, they’ll be able to rely on their market expertise and what they’re seeing work in other transactions to offer the best advice possible. As Rocket Mortgage explains: “Whether this is your first or third time selling a house, listing agents work to help make the home selling process smoother and less stressful. These real estate professionals know the ins and outs of the industry and can help you secure the best deal.” Bottom Line Whether you're a first-time seller or you’ve been through this before, a great listing agent is the key to your success. Let’s connect so you have a skilled local expert by your side to guide you through every step of the process.

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