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The housing market in 2021 and part of 2022 was anything but normal. Mortgage rates were at all time lows and may never reach those levels again. Double-digit appreciation drove prices to new heights. Low inventories fueled by high buyer demand made multiple offers a normal expectation. ...CONTINUE READING

Like with any professional, there are tools and techniques available to help with particular situations. They might be more popular at certain times and might even be put aside or forgotten at others. For real estate professionals, one of those is the backup offer. ...CONTINUE READING

If you've ever been in a Monopoly game after most of the properties have been purchased and developed, it can be a relief to land on Free Parking, knowing the dice must rotate to the next player giving you a respite from paying rent. Like the game, in real life, it would be nice to avoid paying rent and even better to have people paying you rent for property you own. ...CONTINUE READING

The biggest shock to homebuyers is the soaring mortgage rates of 2022 that doubled in one year resulting in approximately 15 million mortgage ready buyers displaced from the market due to affordability issues. ...CONTINUE READING

Locking your interest rate protects you from increases due to market conditions. Locking early safeguards your budgeted payment. By locking the rate, if the market goes up, you get the lower rate; if it goes down after the lock, you may be able to pay a fee and lower the rate. ...CONTINUE READING

Sellers, who last year, were not willing to make any concessions, are much more likely to do so this year due to the softening of the market because of inflation and higher mortgage rates affecting affordability for buyers. ...CONTINUE READING

The TCJA of 2019 dramatically increased the standard deduction so that many homeowners benefit from taking that rather than itemizing their deductions. Taking the standard deduction may result in a larger deduction even if you have no expenses that qualify for claiming itemized deductions. ...CONTINUE READING

If you are a prospective homebuyer, things have changed in the past year. Most notably, mortgage rates have more than doubled which has created an affordability gap that has taken approximately 15 million buyers out of the market. ...CONTINUE READING

If you're on the sidelines to buy a home, there are things you can do to be ready when you do get back in the game. ...CONTINUE READING

The seller wants the most for their home and the buyer wants to pay the least possible. From the very beginning of the homebuying process, there are adversarial positions between the principals. If you happen to be in a multi-offer situation, it just complicates things further. ...CONTINUE READING