The Big Question: Should You Renovate or Move?


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 a purchase



Finding an existing home or designing a new home that has ...

Don’t Wait for a Lower Mortgage Rate – It Could Cost You


Today’s housing market is truly one for the record books. Over the past year, we’ve seen the lowest mortgage rates in history. And while those rates seemed to bottom out in January of this year, the golden window of opportunity for buyers isn’t over just yet. If you’re one of the buyers who worry they’ve missed out, rest assured today’s mortgage rates are still worth taking advantage of.
Even today, our mortgage rates are below what they’ve been in recent decades. So, while you may not be able to lock in the rate your friend got recently, you’re still in a great position to secure a rate well below what your parents and even grandparents got in years past. The key will be acting sooner rather than later.
In late September, mortgage rates ticked above 3% for the first time in months. And according to experts throughout the industr ...

Experts Agree: Homeownership Provides a Path to Long-Term Wealth


A recent survey from LendingTree.com found there are multiple reasons why Americans would choose to purchase a home instead of renting. Some of the most popular non-financial reasons given include:


The flexibility to make the space your own



The pride homeownership offers



The sense of stability


In the same survey, 41% of respondents say they’d rather own a home than rent because of the unique way homeownership builds wealth over time.

And experts agree – the home you own is an important tool for building your net worth. Here’s what many of those experts have to say about building long-term financial stability through homeownership.

According to the National Association of Realtors (NAR):


“Homeowners who purchased a typical single-family existing-home 30 years ago at the median sales price of $103,333 with ...

What Do Supply and Demand Tell Us About Today’s Housing Market?


There’s a well-known economic theory – the law of supply and demand – that explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly.

Understanding the impact both supply and demand have can provide the answers to a few popular questions about today’s housing market:


Why are prices rising?



Where are prices headed?



What does this mean for homebuyers?


Why Are Prices Rising? 

According to the latest Home Price Insights report from CoreLogic, home prices have risen 18.1% since this time last year. But what’s driving the increase?

Recent buyer and seller activity data from the National Associat ...

Two Reasons Why Waiting a Year To Buy Could Cost You


If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.

To determine if you should buy now or wait, you need to ask yourself two simple questions:


What will home prices be like in 2022?



Where will mortgage rates be by the end of 2022?


Let’s shed some light on the answers to both of these questions.

What will home prices be like in 2022?

Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts:


Freddie Mac: 5.3%



Fannie Mae: 5.1%



Mortgage Bankers Association: 8.4%


Using the average of the three projections (6.27%), a home that sells for $350,000 today would be valued at $371,945 by the end of next year. That means, if you delay, it could cos ...