You may have heard that its important to get pre-approved for a mortgage at the beginning of the home buying process, but what does that really mean, and why is it so important? Especially in todays market, with rising home prices and high buyer competition, its crucial to have a pre-approval letter prior to making an offer. Here's why.Being intentional and competitive are musts when buying a home this year. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you're a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.With limited housing inventory, there are many more buyers active in the ... 02/03/2022

Some Highlights Buying a home and wondering if your inspection is necessary? While some buyers may decide to waive their inspection, its risky decision. Your home inspection is a crucial step in the homebuying process. It assesses the condition of the home you plan to purchase, so you can avoid costly surprises down the road. Lets connect so you have expert advice and a trusted professional who will keep your interests top of mind.    01/28/2022

When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago.Here's a look at why that isn't the case.1. There Are Fewer Homeowners in Trouble This TimeAfter the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the bank. Many believed millions of homeowners would face the same fate again this time.However, todays data shows that most homeowners exited their forbearance plan either fully caught up on payments or wit... 01/10/2022

As we move into 2022, both buyers and sellers are wondering, what's next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here's a look at what they say we can expect in 2022. Odeta Kushi, Deputy Chief Economist, First American:Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today. Danielle Hale, Chief Economist, realtor.com: Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials ... 01/06/2022

Its clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important.No matter the living space, the feeling of a home means different things to different people. Whether its a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why.1. Owning your home is an accomplishment worth celebratingYouve put in a lot of work to achieve the dream of homeownership, and whether its your first home or your fifth, congratulations are in order for this milestone. Youve earned it.2. There's no place like homeOwning your own home offers not only safety and security but also a comfortable place where you can simply relax... 12/28/2021

Black Friday and Cyber Monday are over, which means some shoppers have wrapped up their holiday buying. But there's still a group of buyers that are very active this holiday season homebuyers.Experts anticipate the real estate market will see a flurry of activity this winter, and that's great news for todays sellers. If you're planning on listing your home, there's no need to wait until the spring for better conditions todays real estate market is already heating up.Buyers Have Warmed Up to the Idea of Purchasing This WinterThe past 18 months brought about significant lifestyle changes for many of us, including the rise in remote work, job changes, and even early retirement for some. For many people, its prompting a search for their next home now rather than waiting for warmer months.La... 12/21/2021

There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise.With all of this uncertainty, anyone with a megaphone from the mainstream media to a lone blogger has realized that bad news sells. Unfortunately, well continue to see a rash of troublesome headlines over the next few months. To make sure you aren't paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year.There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news.1. Foreclosures Are Spiking TodayThere are a number of headlines circulating that call out the rising foreclosures in todays real estate ma... 11/30/2021

With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn't going away any time soon.But as a homebuyer, what do rates above 3% really mean?Todays Average Mortgage Rate Still Presents Buyers with a Great OpportunityBuyers don't want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But its important to put todays average mortgage rate into perspective. The graph below shows todays rate in comparison to average rates over the last five years:As the graph shows, even though todays rate is above 3%, its still incredibly competitive. But todays rate ... 11/19/2021

When most people think of flooring, they picture things like carpet, wood flooring, tiles, and other common floor coverings. There are other options available to homeowners though, including concrete floors. While concrete was once seen mostly in places like basements and garages, it’s becoming increasingly common in the main floor of homes as well. Concrete flooring with built-in radiant heating systems is becoming a lot more popular, especially in areas that tend to have more severe winters.Some people think that concrete flooring is limited in its decorative options, assuming that the only thing you can do with concrete is apply a sealant or stain. There are other options available, though, including painting the concrete. But be careful before just slapping a coat of paint onto a co... 11/14/2021

The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and todays buyers are looking for homes with more space to support their work needs.As a seller, if you no longer need the extra room you have in your home, rest assured there are buyers who do.Remote Work Is Here To StayRemote work remains a reality for many Americans. A recent poll from Garter, Inc. shows many organizations have not yet returned their offices:. . . 66% of organizations are delaying reopening their offices due to new COVID-19 variants.And its not just companies that are choosing to remain remote for the time being workers are seeking more flexibility. According to research from PricewaterhouseCoopers, nearly one-fifth of em... 11/03/2021

Its impossible to research the subject of buying a home without coming across a headline declaring that the fall in home affordability is a crisis. However, when we add context to the most recent affordability statistics, we soon realize that, though homes are less affordable than they have been over the last few years, they are more affordable than they historically have been.Black Knight, a premier provider of data and analytics for the mortgage industry, just released their latest Monthly Mortgage Monitor which includes a new analysis of the affordability situation. Here's what the report reveals:The monthly payment required to purchase the average priced home with a 20% down 30-year fixed rate mortgage increased by nearly 20% (+210) over the first nine months of 2021, . . . It now r... 10/28/2021

A woodburning stove can be a great addition to your home. Not only do they provide non-electric sources of heat during the winter, but many people enjoy the dry heat provided by woodburning stoves and similar heaters and they aren’t limited to the old-school cast iron stoves. Modern woodburning stoves come in a number of styles and forms, including pellet stoves that use small wooden pellets for a more controlled burn and more manageable heat options.While there are certainly advantages to freestanding wood stoves, it’s important that they’re installed and used safely. It should go without saying that an improperly installed or operated wood stove can be very dangerous. To keep you, your family, and your home safe, here are some things that you should keep in mind when considering insta... 10/18/2021

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following: 70% of respondents want more outdoor living space 69% of respondents want a home office (48% wanted multiple offices) 46% of respondents want a multi-function room/flexible space 42% of respondents want an au pair/in-law suite 39% of respondents want an exercise room/yoga space If you're a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The decision you make could be determined by factors like: A possible desire to relocate The difference in the cost of a renovation versus ... 10/17/2021

If you've been in your home for longer than five years, you're not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.To really explore tenure, its important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says:People who move for home-related reasons might need a larger home or a house that better fits their needs, . . . Financial reasons for moving include wanting a nicer home, moving to a... 10/01/2021

Awnings have been around for a long time; examples of awnings date back as far as ancient Egypt, and their use was common in the height of the Roman Empire. Despite their lasting popularity, modern awning use has really dropped off in recent years. Some blame gentrification, others think that it’s just a shift in design sensibilities, but whatever the reason, there haven’t been nearly as many awnings in use for a decade or more.Is this a continuing trend, or is awning use starting to turn around? What are the reasons that people might want to get awnings? While a lot of the use of awnings comes down to personal preference, here are some of the reasons that awnings fell into disfavor… and why they just might be making a comeback.Why the Awning Hate? Once upon a time, awnings were all the... 09/05/2021

Windows are one of the most important features of your house. They let in light, let in fresh air, and can have a significant impact on the overall look of your rooms. With that said, windows do require a bit of maintenance from time to time. Most of the time, it will be simple things like cleaning the windows and checking window screens for damage to make sure that your windows are still operating in tip-top shape. Occasionally, though, you may find that your windows require a bit more service to keep them from showing wear and other damage over time.If you aren’t sure what sort of service and maintenance your windows might need, don’t worry. A lot of homeowners are somewhat in the dark about proper window maintenance, and the amount of service your windows need depends on a lot of fac... 08/21/2021

Its no secret that one of the top stories in todays real estate market is low housing supply and high buyer demand. If you're a first-time buyer looking for a starter home or are someone whos interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile option.In fact, trends indicate condos are gaining popularity among buyers. In the latest Existing Homes Sales Report from the National Association of Realtors (NAR), the data shows condo sales rising throughout the first half of this year (see graph below):There are a few reasons more and more people are opting to buy condos the benefits of condo life can be quite compelling. Lets explore the main perks to find out if a condo is a good fit for you.AffordabilityAccording to the NAR report, the median sales p... 08/19/2021

An important factor in todays market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point well see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges:It looks like inventory may have hit a bottom (we've seen this in the higher frequency data as well). Unsold inventory in May was at 2.5 months supply, up from 2.4.To put it into perspective, the graph below shows levels of inventory rising since the beginning of the year:Were still not close to a balanced market, which would be a 6 months supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. And that leaves many buyers and sellers wondering the same thi... 07/20/2021

Are you clamoring for extra rooms or a more functional floorplan in your house? Maybe its time to make a move. If you'll be able to work remotely for the long-term or your overall needs have simply changed, its a great time to sell your house and move up. Why? With mortgage rates in their favor and higher-priced home sales powering more moves across the country, sellers in todays market are finding the space they need (and have always dreamed of) by purchasing a home in the upper end of the housing market.With so few homes available for sale and high demand from todays homebuyers, sellers are profiting in major ways this season. Bidding wars are gaining traction, driving up the sale price of more and more homes throughout the country. This means sellers are able to leverage extra cash f... 06/05/2021

Veteran’s Home Loans for Sugar Land Texas!!If you are reading this, you or a family member have likely served in our military.  First off, we would like to say a sincere “Thank You” for your service!  We recognize that not only do our Veterans sacrifice by serving, but their families do as well-, and we owe you all a debt of gratitude!One of the best benefits Veterans and their families receive due to their service to our great country is the VA home loan benefits.  We are going to outline just a few of these significant benefits in this article for you.Here are some of the major benefits you may receive by using your VA home loan benefits:*100% financing available- one of the very few loans available with no down payment!*Lower rates available than most loan programs- which saves you m... 04/20/2021