Real EstateSellers August 22, 2023

You Could be in a New Home for the Holidays

Have you been dreaming of selling your home, buying a new one and moving in before the holidays? This scenario is actually fairly common and totally doable. A knowledgeable agent can guide you through the process, negotiate the best terms and get you into a new home – all in time to celebrate with family […]

Have you been dreaming of selling your home, buying a new one and moving in before the holidays? This scenario is actually fairly common and totally doable. A knowledgeable agent can guide you through the process, negotiate the best terms and get you into a new home – all in time to celebrate with family and friends. Here’s how you can get started.

Understand the Market

Although spring and summer are considered peak buying and selling season, you can still snag a great deal during fall and winter months – if you have a good handle on your local market. Your agent is an invaluable resource for information on current inventory, comparable properties, average home prices and median days on the market. Once you know where you stand, you can weigh the options and make smart decisions.

Prepare Your Home for Listing

Now is the time to do a careful review of your property and determine if any repairs or upgrades are needed. Your agent can provide a list of trusted vendors, tradespeople and contractors to take care of larger tasks while staging your house for broad buyer appeal, arranging professional photography and marketing your home for maximum exposure.

Get Ready to Move

To further prepare your home for the market, you want to start decluttering and depersonalizing by boxing up items for donation or storage. You can make this process manageable by targeting one room at a time. Before you know it, you’ll be one step closer to the big move.

Evaluate Your Finances

Taking a realistic look at your financial situation is crucial to determining the size and location of the home you want to purchase and if you need to sell your current home before buying. Your agent can connect you with a reputable lender who will walk you through the available loan options. Having a good understanding of your finances will also ease any stress you may be feeling.

Find Your New Home

To help narrow down the search, create a wish list, prioritize your “must-haves” and check out homes for sale on coldwellbanker.com or in person with your agent. While viewing properties, imagine living there. Is the dining space large enough for Thanksgiving dinner? Do you have somewhere to hang your stockings? How will your holiday lights look to neighbors passing by? If you feel that emotional connection, you know you’ve found the one.

So, is it possible to buy and sell before the holidays? The answer is yes. By working closely with a skilled real estate professional, you can set a timeline, plan out your strategy and ring in the new year in your new home.

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BuyersGeneralReal Estate July 8, 2023

Why Homeownership Wins in the Long Run

Consider this: if you know people who bought a home 5, 10, or even 30 years ago, you’re probably going to have a hard time finding someone who regrets their decision. Why is that? The reason is tied to how home values grow with time and how, by extension, that grows your own wealth. That may be why, in a recent Fannie Mae survey, 70% of respondents say they believe buying a home is a safe investment.

Here’s a look at how just the home price appreciation piece can really add up over the years.

Home Price Growth over Time

The map below uses data from the Federal Housing Finance Agency (FHFA) to show just how noteworthy price gains have been over the last five years. And, since home prices vary by area, the map is broken out regionally to help convey larger market trends.

If you look at the percent change in home prices, you can see home prices grew on average by just over 56% nationwide over a five-year period.

Some regions are slightly above or below that average, but overall, home prices gained solid ground in a short time.And if you expand that time frame even more, the benefit of homeownership and the drastic gains homeowners made over the years become even clearer (see map below):

The second map shows, nationwide, home prices appreciated by an average of over 290% over a roughly 30-year span.

This nationwide average tells you the typical homeowner who bought a house 30 years ago saw their home almost triple in value over that time. That’s a key factor in why so many homeowners who bought their homes years ago are still happy with their decision.

And while you may have heard talk in late 2022 that home prices would crash, it didn’t happen. Even though home prices have moderated from the record peak we saw during the ‘unicorn’ years, prices are already rebounding in many areas today. That means, in most markets, your home should grow in value over the next year.

The alternative to buying a home is renting, and rental prices have been climbing for decades. So why rent and deal with annual lease hikes for no long-term financial benefit? Instead, consider buying a home.

Bottom Line

If you’re questioning if it still makes sense to buy a home today, remember the incredible long-term benefits of homeownership. If you’re ready to start the conversation, reach out to a real estate professional today.

Copyright © 2023 – Keeping Current Matters
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BuyersGeneralReal EstateSellers July 8, 2023

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©2023 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.  
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©2023 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.