Tuesday, November 7, 2023 / by Richard Eimers
Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Federal Reserve shut down the party when it began raising interest rates last year.1
Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock—trying to lock in a low mortgage rate and gain a foothold in the market—current buyers are more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.2
The reality is, home inventory remains low, so most properties will still sell with some basic prep, the right price, and a good real estate agent. But owners who go the extra mile are more likely to sell faster and for a higher amount.
If you have plans to sell your home and want to net the most money possible, this list is for you. Here are our top seven strategies to attract the best offers and maximize y ...
Monday, October 2, 2023 / by Richard Eimers
Homeownership offers numerous benefits such as stability, predictable payments, and the freedom to personalize your space. Additionally, it can contribute to building wealth over time, with studies showing that homeowners tend to have higher net worth compared to renters.
Understanding Home Equity: Home equity is the difference between your home's current market value and the remaining mortgage balance. For instance, if your home is worth $250,000, and your mortgage balance is $200,000, you have $50,000 in home equity.
Wealth Building with Home Equity: Homeownership builds wealth through "forced savings" – as you make mortgage payments, your loan balance decreases, and your home equity increases. Furthermore, real estate often appreciates over time, providing a potential return on investment.
Growing Home Equity Faster: Two primary methods to expedite equity growth are:
Paying Down Your Mortgage: Make extra payments, yearly lump sums, or consider refinancing to a shorter mort ...