Caoe Cod – Make Your Move with Mari

Mid-Year Housing Update

Why some forecasts have changed

If the housing market feels confusing right now, you’re not the only one.

Mortgage rates have risen. Home sales haven’t picked up as much as expected. And many buyers and sellers are wondering when things are going to feel easier or be more affordable.

The truth is: a lot changed over the first half of this year.

Back at the end of 2025, economists were forecasting a much stronger housing market for 2026. They expected mortgage rates to come down, affordability to improve more dramatically, and home sales to rebound.

But inflation, economic uncertainty as evidenced by increased gas and grocery prices, and continuing conflict in the Middle East have combined to push mortgage rates higher than expected. And because rates are staying elevated for longer, some buyers are continuing to hold off.

That’s why the real experts have recently revised their forecasts for the rest of the year (see graph below):

So, what does this actually mean for you? Let’s break it down.

Mortgage Rates May Remain Elevated

While just about everyone wants mortgage rates to go back to the uppers 5s or low 6s we saw at the start of the year, as of right now, the experts don’t think that’s likely to happen this year.

Instead, forecasts have been updated from the low 6s as originally projected. Many industry organizations are saying rates will stay in roughly the mid 6s this year. The good news is, that’s still lower than rates were a year ago.

Of course, this is based on what we know today. If the conflict overseas comes to an end or inflation drops, this could change. But if you’re waiting for lower rates, it may not pay off in the way you expect.

Existing Home Sales Revised Lower

Back in late 2025, experts expected we’d sell an average of 4.5 million homes this year. Now? That’s dropped down a bit to 4.2 million.

That tells us something important: buyers are still hesitant because affordability remains challenging.

Higher mortgage rates have made monthly payments harder to manage, especially for first-time buyers. And that’s slowed the pace of the market compared to what was originally expected. But even though the forecast was revised down, we’re still expected to sell more homes than last year.

Once geopolitical tensions resolve and rates begin to settle down, many experts believe that group of buyers will be ready to jump back in. As Lawrence Yun, Chief Economist at NAR, explains:

“There is sizable pent-up demand that could be released into the market.”

There already have been a few glimmers of renewed hope. In recent months, pending homes sale have been improving month over month despite higher rates.

So, if you’re able to afford a home at today’s rates, it could still make sense to buy now. Otherwise, if you wait, you’ll have more competition (and potentially fewer homes to choose from) when those other buyers jump back in.

New Home Sales Also Slowed

Builders also expected to have a stronger year. Earlier forecasts projected new home sales would top 700k in 2026. Now, economists expect we’ll be just shy of that.

Again, mortgage rates are a major reason why.

But the upside for buyers is that builders may be even more motivated to sell. That means builder incentives, negotiation opportunities, and pricing flexibility may continue.

Builders could be more ready to negotiate, and that gives you more leverage to get a better deal.

Home Prices Are Still Expected To Rise

This is one of the most important takeaways from the entire forecast. Even though sales activity is slower, on average, experts did not revise their home price forecast downward.

They still expect prices to rise nationally this year.

Why? Because while buyer demand has softened, the number of homes for sale is still relatively limited overall. That imbalance is helping support prices, even in a slower market.

On Cape Cod, prices remain steady. In many cases, what’s being interpreted as a “drop in prices,” is actually sellers accepting the fact that this is not just a few years ago when it seemed one could list their house at just about any price and find a ready buyer.

And while buyers may think they want to see a drop in prices, generally you feel better about a big purchase when it doesn’t depreciate right away.

Bottom Line

The housing market hasn’t rebounded as quickly as experts originally hoped. But that doesn’t mean it’s stalled.

So don’t see this revision in forecasts as a sign of trouble. See it as a temporary reaction to overall conditions and uncertainty.

If you have selling — or buying — on your mind, we’re happy to walk you through your options. You can always find us at 508-388-1994 (Mari and Hank) or Colleen (781-264-5517.)

Let’s talk soon…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Why People Decide to Move

Life doesn’t wait for the perfect market.

You may be telling yourself that you’re going to wait to move – maybe you’re hoping mortgage rates will come down, prices will fall, or the market will feel a little easier.

And honestly? A lot of people are feeling that way right now. But here’s what some are starting to realize.

Waiting doesn’t usually fix the thing that made you want to move in the first place.

Your family still desperately needs more room. Your empty nest still feels too…empty.

Your parents or grandparents still need you to live closer.

You just got married… or divorced.

Your vision of retirement has you living somewhere else.

Eventually, life can reach a point where waiting feels harder than moving.

That’s why some people are still deciding to buy right now, even in today’s market. Not because conditions are perfect. But because the life changes behind their move never really went away.

And maybe that’s exactly where you are too. If so, you’re certainly not alone.

The Real Reasons People Move

Data from the National Association of Realtors (NAR) shows 1 in 5 buyers last year said they felt like they had to purchase a home at that time, no matter the market.

That’s an important reminder right now. Sure, the dollars and cents of your move have to make sense for you. But big life changes happen whether mortgage rates and home prices are high, low, or somewhere in between.

And those big life events happen more than you may think. NAR says roughly 22.5 million people experience major life changes in a typical two-year span (see graph below):

These are exactly the kinds of things that can change how much space you need, where you want to live, or what kind of lifestyle makes sense now. Chen Zhao, Head of Economics Research at Redfin, explains:

“Life doesn’t stand still—people get new jobs, grow their families, downsize after retirement, or simply want to live in a different neighborhood.”

And that’s what makes waiting so hard. Every month you spend hoping the market changes is another month living in a house that no longer works for your life. It’s stressful to feel stuck. And that feeling usually doesn’t disappear.

There May Be More Opportunity Than You Think

But while affordability is still a challenge, there may still be a way for you to make your move.

The number of homes for sale has been growing for 4 straight years (see graph below). That means more homes to choose from, and, in some markets, more room to negotiate than buyers had just a few years ago.

That doesn’t mean moving is suddenly easy. But it does mean some buyers are finding ways to make a move work. So, if you’ve been putting your plans on hold, maybe the question isn’t just:

“What’s the market doing?” or “When will it get better?”

Maybe ask yourself this, too: “Can I still live where I’m at right now and make it work?”

If the answer to that second question is “no,” it may be worth having a conversation about what your options look like today – despite where rates or prices are. You could find your move is still possible after all. With more homes for sale, there’s a better chance to find one that fits your life (and your budget) right now.

Bottom Line

Life changes. Priorities shift. Families grow. Kids move out. Careers evolve. And eventually, the house you’re in may stop fitting the life you’re living.

If that’s been weighing on you lately, let’s talk through what your options could realistically look like today, no matter where rates or prices are. You can always find us at 508-388-1994 (Mari and Hank) or 781-264-5517 (Colleen).

Life can’t always wait for perfect market conditions. Maybe you don’t have to either.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Is Co-Buying the Answer?

A creative way to turn someday into now.

For a lot of potential first-time home buyers, affordability is what’s standing in their way. But some buyers are getting creative and finding a way to still make the numbers work – and that’s through co-buying.

The Dream Is Still Alive. The Math Just Isn’t Working for Everyone.

Young people haven’t given up on the dream of owning a home – not even close. According to FirstHome IQ, homeownership still ranks among the top life goals for the next generation.

The problem? 73% of Gen Z and millennial buyers cite affordability as the reason for not making homeownership a priority. And it shows. First-time buyers now make up just 21% of all home purchases, the lowest share since the National Association of Realtors (NAR) started tracking the data in 1981.

But still, some buyers are making it happen. And a portion of them are turning to co-buying to get their foot in the door.

So, What’s Co-Buying?

Co-buying means purchasing a home with someone else, like a friend, sibling, or unmarried partner. You combine incomes, split the down payment, and share monthly costs. For some people, it’s a creative way to turn “someday” into a concrete move-in date that’s just around the corner.

And it’s catching on fast, just look at where things stand today. According to CoBuy.io, 64 million Americans now co-own a home with someone they’re not married to. In fact, 31.5% of home purchases involve co-buyers (see graph below):

Why It Works

Here are just a few of the top reasons buyers are going this route, according to NerdWallet:

Quicker path to homeownership: If owning a home is a serious goal for you, buying with someone else can help make that reality on a shorter timeline. Two or more people can save up a down payment a lot faster than one. That’s less time waiting and more time building equity in a place that’s yours.
More purchasing power: With multiple incomes going toward the home purchase, you might be able to afford a nicer home or live in a more popular neighborhood. Sometimes teaming up means getting the home you actually want, not just the one you can barely afford on your own.
Easier loan qualification: Added income from more than one buyer can also help with your debt-to-income (DTI) ratio, which the lender will calculate based on all the borrowers.
Lower housing costs: Splitting up a mortgage payment multiple ways could maybe even make owning less expensive than renting Plus, sharing costs can make repairs or renovations more manageable, too.

Things To Keep in Mind

If you’re considering going this route, there are some things you’ll want to think over. For starters, co-buying works best with people you trust and share financial goals with. So, before moving forward, make sure everyone agrees on how costs are split, who handles what, and what happens if one person wants to sell down the road.

That’s why a written co-ownership agreement can be a smart move. It keeps everyone on the same page and helps avoid headaches down the line. Think of it less like a legal formality and more like a game plan for your new investment.

Bottom Line

Affordability challenges are real, but they don’t have to mean waiting indefinitely. Co-buying is helping some first-time buyers stop waiting and start putting down roots.

If you’re curious whether it could work for your situation, let’s talk. Reach out today and let’s figure out your path to homeownership together. You can always find us at 508-388-1994 (Mari and Hank) and 781-423-8662 (Colleen).

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Three Misconceptions About the Market

It’s fact vs. fiction.

Some buyers, sellers, and commentators are a little uncertain right now about the housing market. And that’s led to some dramatic headlines. If you’re thinking about buying a home, this may be making you feel a little uneasy about your decision.

A recent study by CNBC asked homebuyers what they’re most worried about, and three themes kept coming up again and again:

Mortgage rates
The number of homes for sale
Home prices

You should know that a lot of what you may be hearing is based more on misconceptions than facts. So, let’s break it down and separate fact from fiction.

Misconception #1:“I’ll Just Wait, Because Mortgage Rates Are Going To Fall Dramatically”

One idea going around on social is that mortgage rates are going to drop dramatically soon. So, it’s better to wait to buy.

But is thatreallywhat’s expected?

While mortgage rates have come down a bit in the last few weeks, forecasts don’t show a major drop ahead.The most likely scenario is that rates stay somewhere in the low 6% range this year.

And that’s not a big change from where rates are now (see graph below):

Of course, this depends on where inflation and the economy go from here. But, based on what we know today, waiting for a big drop in rates may not work out the way some people hope. AsU.S. Newsexplains:

“Mortgage rates aren’t expected to change much over the next several quarters . . .”

Not to mention, even with rates where they are today, it’s alreadymore affordable than a year ago. So, even if they don’t change much, it’s still better than it was.

Misconception #2:“There Are Too Many Homes for Sale Right Now”

You’ve probably heard inventory is up. And nationally, it is. The number of homes for sale is 8% higher than this time last year. But that’s not a bad thing. In fact, it’s one of the reasons buyers have a bit morebreathing room right now.

The problem is the headlines are making something good, sound bad. They’re focusing on how this is the most inventory we’ve had since 2019 or how many homes builders are building. And that can make it sound like the number of homes for sale is rising too far, too fast.

But that’s not what the bigger picture shows.

DatafromRealtor.comshows that, even though inventory is up compared to last year, it’s still nearly 14% lower than it was during the last normal housing market (2017-2019):

On Cape Cod, inventory is down 21% comparing this March to last.

Misconception #3:“Home Prices Are About to Crash”

You’ve probably seen this one, too. The confusion is coming from the fact that some areas are experiencing price declines. And influencers are running with that and saying prices are crashing. But that’s not the reality.

Most areas are seeing prices rise, not fall. On Cape, the median sales price for a single-family home is up almost 2% YTD comparing the first three months of this year with the same time period in 2025.

Why are prices up?

Many homeowners aren’t selling because they don’t want to give up the low mortgage rate they locked in a few years ago. And that’s keeping a lid on how much inventory can grow.
Since inventory is still below pre-pandemic norms, there aren’t enough homes for sale to cause a price crash.
And even in markets with more inventory, some sellers are choosing to pull their homes off the market instead of cutting prices.

Bottom Line

Online posts are going to make things sound worse than they are. If you want a true, data-bound look at what’s really happening in today’s market, please talk with us. You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662

We can separate fact from fiction.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Does Buying Seem Out of Reach?

Here’s a possible solution.

The math on buying a home doesn’t seem to be adding up right now for some folks. Maybe that’s how it feels for you, as well. You look at the cost of buying. Then you look at the cost of expenses like childcare. And it starts to feel as if you need to choose between one or the other.

But some families are finding a way to work things out by doing something a little different: teaming up with family members to purchase a multi-generational home.

One Reason This Is Becoming More Common

It’s no secret that affordability has been a challenge in recent years. But for families with young kids, there’s an added layer that can make it feel even harder: childcare.

According to the Department of Health and Human Services, childcare should take up no more than 7% of your monthly income. But in reality, the average married couple spends closer to 10%. In Massachusetts, it’s almost 12.5%. (see map below):

When you combine that with the cost of buying a home, it’s easy to see why things can feel stretched. That’s exactly why more families are starting to rethink how they approach both.

The Solution More People Are Turning To: Multi-Generational Living

One option gaining traction? Multi-generational living. That’s when parents, grandparents, or other relatives buy a house together and live under the same roof. And it’s not just about convenience anymore. It’s becoming a go-to strategy.

You can see it in the data. According to the National Association of Realtors (NAR), almost 1 in 7 homebuyers (14%) bought a multi-generational home in 2025 (see graph below):

And for the first time, childcare is showing up as a key reason why they chose this option. As NAR explains:

“This year’s report features two new primary reasons for purchasing a multi-generational home: grandchildren living in the home (12%) and to help reduce the cost of childcare (6%).”

Why It Works

Buying a multi-generational home solves two big challenges at the same time.

First, it shares the financial responsibility. If you pool multiple incomes together, you may be able to afford a home you couldn’t have on your own.
Second, it can also solve the childcare puzzle. When grandparents or other relatives live in the home, they may be able to help with daily care – which can significantly reduce or even eliminate daycare costs.

And for many people, that combination is what finally makes their move possible.

If the costs of childcare and housing together have made buying feel out of reach right now, it may be worth exploring creative options like buying a home with your loved ones.

Bottom Line

If you want more information on multi-generational homes, let’s have a quick conversation about some possible options. You can always find us at 508-388-1994 (Mari and Hank) and 781-423-8662 (Colleen).

Sometimes the path to homeownership isn’t doing it alone. It’s doing it together.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Before You Fall in Love with a House – Do This

You don’t have to be ready to buy to be ready to buy.

Be honest. Have you started looking at homes online or in person? If you have, it’s already past time to get pre-approved. Here’s why.

If buying a home is on your radar – even if it’s more of a someday plan than a right now plan – you don’t want to wait to find out what you can afford and what lenders are willing to loan you.

No matter what you’ve heard, pre-approval isn’t about commitment. It’s about clarity.

Here are the two big ways pre-approval sets you up for success.

You Know Your Numbers Up Front

During the pre-approval process, a lender will walk through your finances and tell you what you can borrow based on your income, debts, credit score, and more. Once you have that number, your search becomes a lot more focused.

With a mortgage pre-approval, you know what you can borrow, so it’s easier to figure out your ideal price point, and what you can actually afford. And that clarity is key.

Because if you just start browsing online or going to open houses just guessing at your price point, you run the risk of falling for a house that’s outside of your price range – and missing out on ones that are.

You want this number to be clearly defined before your search. Here’s why.

You Can Move Quickly When You Find the One

This is how a lot of home searches go today. You scroll through listings just to see what’s out there, and then it happens. You fall in love with something you’ve seen online.

If you’re already pre-approved? You’re probably in great shape.

But if you’re not…

Instead of being able to quickly make an offer, you have to scramble to get a lender, gather the financial documents, and then submit the necessary pre-approval paperwork first. And while you’re waiting to hear back from your lender, someone else who’s more prepared could beat you to the house. As Bankrate explains

“The best time to get a mortgage preapproval is before you start looking for a home. If you find a home you love but don’t have a preapproval in hand, you likely won’t have time to get preapproved before you need to make an offer . . .”

And that’s avoidable, with the right prep.

While you can’t control when the right home will show up, you can be ready for it. Think of it like showing up to the starting line with your shoes tied and your warm-up done – while everyone else is still looking for parking.

It’s not about rushing your timeline. It’s about removing the delay between finding the right home and being able to move on it.

One Thing You Need To Know About Pre-Approvals

Speaking of timing, pre-approvals do have an expiration date. So, be sure to ask your lender how long it’s good for. The Mortgage Reports explains:

“Mortgage preapproval letters are typically valid for anywhere from 30 to 90 days. However, a preapproval can be updated and extended if the lender re-checks your information.”

Doing the right prep and knowing this information can make the whole process a lot smoother.

You don’t have to be ready to buy to be ready to buy.

Getting pre-approved doesn’t mean you’re committing to buy right now. It just means you’ve taken a step to understand your numbers. And when a home catches your attention, you’re prepped and good to go.

Bottom Line

So, ask yourself this: if your perfect home popped up tomorrow, would you be ready to make a move?

If the answer is no and you’re thinking about buying, it may be time to get pre-approved. You don’t feel behind before your search even officially kicks off.

If you don’t already have a lender, just let us know. We can connect you with several trusted professionals who have worked with many of our buyers and consistently delivered excellent service.

You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen).

If you have buying on your mind, let’s talk soon…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Three Must-Do’s for Buying Your First Home

If you currently own and are getting ready to buy for the first time in years, this checklist is a good place to start.

Buying your first home is an exciting time, but it can also be a little nerve-wrecking because it’s something you’ve never done before. And trying to think of everything you need to do can feel like a lot. But here’s the key.

You don’t have to figure everything out on your own. And you don’t have to do it all at once. Just tackle it one thing at a time.

Here’s a simple list of three items you should focus on to help you get started.

1. Assemble Your Team: Don’t Do This Alone

Buying a home is a team sport. And having the right professionals by your side can make a world of difference. Here’s who you need to find:

A local real estate agent. We can be your guide from the first showing to closing day. We’ll make sure you understand all the details along the way, so you feel confident in your decision.
A trusted lender will walk you through loan options, monthly payments, and what’s realistic for your situation. That information is something you’re going to want early on. We can recommend reputable local lenders who we work with on a regular basis.

2. Prep Your Finances: Set the Foundation First

This is what determines what you can afford, how competitive you’ll be, and how confident you’ll feel when it’s time to make an offer. Here’s how to get ready:

Check your credit score. Your credit score impacts the loan options you’ll qualify for and even the mortgage rate you’ll get. Knowing this number early gives you time to work on raising your score, if its necessary.
Save for your down payment and closing costs. Most buyers focus on the down payment, but closing costs can sometimes matter, too. Having savings set aside for both helps you avoid last-minute stress and surprises.
Look into assistance programs. Many first-time buyers qualify for programs that will give their homebuying savings a boost. This can make buying possible sooner than you expect.
Talk to a lender about mortgage options. Fixed-rate, adjustable-rate, FHA, VA, and conventional loans all work differently. Understanding the options helps you choose what fits your goals best.
Get pre-approved. A pre-approval tells you what a lender would be willing to give you for your home loan. This’ll help you figure out your price range and set you up to move fast when the right home comes along.
Figure out your budget. Your mortgage is just one part of homeownership. Budgeting for your utilities, home insurance, and everyday expenses and maintenance will help make sure your payment feels comfortable, not stressful.

3. Gather Your Documents: Save Time (and Stress)

When you’re officially ready to kick off the buying process, lenders are going to need to verify your income, assets, and financial history. Having these documents ready-to-go upfront can speed up the process and reduce back-and-forth. Here’s what Bankrate says you need to prep:

W-2s and tax documents (past 2 years). These show income stability and help lenders verify your earnings over time.
Recent pay stubs (generally the past 1–2 months). Pay stubs confirm your current income and employment status.
Bank statements (past 2–3 months). These show your savings, spending patterns, and where your down payment funds are coming from.
Investment account statements (past 2-3 months). If you’re using investments as part of your financial picture, lenders may ask for these as well.
Copy of your driver’s license. This verifies your identity and is required for loan processing.
Residential history (past 2 years). Lenders use this to confirm stability and background information.
Statements for any outstanding debts (past 2 months). Student loans, auto loans, and credit cards affect your debt-to-income ratio, so lenders will want to know about them.
Proof of supplemental income. Bonuses, commissions, side work, or child support may count toward your income if documented properly.

Note: the exact time frames and list of documents may vary lender to lender. This is just a general rule of thumb to help you get the ball rolling.

Bottom Line

Buying your first home doesn’t mean you have to have everything figured out. It just requires a plan.

If you currently own and are getting ready to buy for the first time in years, this checklist is a good place to start, too.

If you begin with your finances, organize your documents, and surround yourself with the right people, you’ll be in great shape when the time comes to make a move.

If you want more information on anything on this list or just need help getting started, don’t hesitate to reach out. You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen.)

We’re happy to help…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Let’s Talk about Foreclosures

It’s about perspective, not panic.

Your Uncle Bob, who “knows a little something about real estate,” is telling you that foreclosures are ticking up. He says that you should wait to buy until you can get a good deal.

Is he right?

Not really.

It is true that foreclosures are rising. But they are nowhere near the crisis level that Bob is suggesting. Here’s why.

Take a look at serious delinquencies – loans where the homeowner is more than 90 days late on their mortgage payments.

While those have increased slightly, data from the New York Fed shows they still remain low. And they aren’t anywhere close to levels seen when the market crashed (see graph below):

Right now, about 1% of mortgages are seriously delinquent. That’s only 1 in 100.

In the years around the crash, they were up around 9%. That’s 1 in 11.

That’s a big difference.

And it’s important to remember not all delinquencies even become foreclosure filings. Some homeowners who are falling behind will work out repayment plans with their banks and lenders because banks don’t want to see a wave of foreclosures either.

That’s why foreclosure numbers are even lower than delinquencies. ATTOM shows only 0.3% of all homes are currently going through a foreclosure filing. And some of those won’t even all go to a full foreclosure. That’s not a wave. That’s a ripple at most.

If People Are Falling Behind on Payments, Why Aren’t There Even More Foreclosures?

Maybe you’re wondering, if people are struggling financially, why aren’t there more foreclosures? Here’s the easiest way to answer that.

When households feel financial pressure, they tend to prioritize their mortgage payment above almost everything else. Because the last thing they want to lose is their home.

More data from the New York Fed shows serious delinquencies have risen more for credit cards and auto loans (the blue and green lines). But mortgage delinquencies and home equity lines of credit (borrowing against the value of your home) aren’t seeing the same big uptick (the yellow and orange lines). They’re a lot more stable overall.

In other words, people may fall behind on other debts, but they fight hard to keep their homes. And, in today’s housing market, they’re also in a strong equity position to do so.

Home Equity Changes Everything

Many people have built significant equity over the past several years. And that creates options. As Daren Blomquist, VP of Market Economics at Auction.com, explains:

“Distressed homeowners… many times they still have equity in their homes. There’s an opportunity for them to sell that home, avoid foreclosure, and walk away with equity.”

That’s a major difference from 2008. Back then, many homeowners owed more than their homes were worth. And selling wasn’t an easy solution. Today, for many people, it is. And even in situations where equity isn’t enough, homeowners are encouraged to contact their loan servicer early to explore alternatives to foreclosure.

Bottom Line

Are foreclosure filings rising slightly? Yes. Are they anywhere near crash territory? No. And homeowners today have far more equity and flexibility than they did during the crash.

If you’re concerned about what you’re seeing in the headlines, the best move isn’t panic, it’s perspective. And the data right now says this isn’t 2008 all over again.

If you’re not sure that this is the right time for you to make a change, you can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen). We can walk you through your options.

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

#1 Mistake Sellers Are Making

Do you want to sell your home for the most money and in the least amount of time?

There’s one decision you’re going to make when you sell your home that determines whether your house sells quickly, or it sits. Whether buyers make an offer, or scroll past it. Whether you walk away with the maximum return, or you end up cutting the price later.

And that’s your asking price.

The #1 Mistake Sellers Make Today: Trusting the Wrong Number

If you’re thinking about moving and trying to figure out what your house may sell for, it’s tempting to start with an online home value tool. They’re fast, free, and easy. And you don’t have to talk to anyone. But here’s the problem: they don’t know your house.

And that can be a bigger drawback than you realize.

Where Online Estimates Fall Short

Online tools often lag behind the market. They look in the rearview mirror, relying on closed sales and delayed information. And in that sense, they’re using incomplete data.

Why?

Some important information just isn’t available online. Bankrate explains:

“While these tools can be a useful starting point, keep in mind that they typically do not provide the most accurate pricing. Algorithms can only rely on the information available; they can’t account for things like a home’s condition or renovations made since the last public information was updated.”

They can’t see:

The unique features that make your house special,
All the work you’ve put in to keep it in good condition,
Or, how in-demand your specific neighborhood is right now.

So, while they may do a good job in some cases, they can’t be as accurate as we are.

In a market where buyers have more options, a seemingly small margin of error can cost you thousands if you price too low, or weeks of lost momentum and time if you price too high.

If you want to sell for the most money and in the least amount of time, you don’t want the fast answer on how to price your house. You want the right one.

That’s why the savviest homeowners today don’t rely on algorithms when it actually matters. They rely on people, specifically trusted local agents.

What an Expert Agent Brings to the Table

According to 1000Watt, sellers overwhelmingly believe real estate agents have the best sense of a home’s true value, far more than any automated tools.

That confidence isn’t accidental. As Bankrate puts it:

“A professional appraiser or real estate agent can visit the home in person, assess the neighborhood as a whole as well as the individual property, perform more thorough market research, and consider subjective details.”

And those details matter. We don’t just pull reports. We know what’s happening right now:

What buyers are paying this month, not last month, or even last year,
How your home compares to the current competition in your neighborhood,
Which features add value based on what buyers are willing to pay for today,
How to price your house to create urgency in this market.

And once we visit your home, we may even find your online estimate undershot your value. So, if you used the estimate you got online, you’d actually be leaving money on the table. And no one wants that.

Bottom Line

While online tools can give you a rough starting point, only local experts like us can give you a price that actually works.

If you want to know the right number for your house, not just the easiest one to find, let’s connect. You can always find us at 508-388-1994 (Mari and Hank) or 781-423-8662 (Colleen).

Talk soon…

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Four Ways Your Equity Can Work for You

Two-thirds of homeowners have a substantial amount of equity today.

Are you sitting at home today wondering if your house still works for you?

With everyone at home and unable to go outside because of the weather are you realizing that it’s just too small? Or are you closing doors and shutting off heat in rooms you haven’t used in years in order to keep utility bills down as you wait out the storm?

You may have heard that as a homeowner you have a lot of equity built up in your property. But what does that really mean?

Because your equity isn’t just a number, it’s a powerful asset that can help you take your next big step in life which could mean upsizing, downsizing or maybe saying goodbye to the cold weather.

How Much Equity Does the Typical Homeowner Have?

Here’s how it works. As you pay down your loan and home prices rise through the years, the share of your home that you own free and clear grows. That’s your equity.

And according to data from the Census and ATTOM two-thirds of homeowners have a substantial amount of it today.

39% own their home outright without owing anything on it.
Another 27% have at least 50% equity in their homes (see chart below):

That’s a big deal. And just in case you’re wondering how that translates into real dollars, Cotality says the typical homeowner has almost $300k in equity today. That’s six figures.

And whether you have that much, even more, or a bit less, here are a few examples of how you can use it.

1. Move Into a Home That Better Fits Your Life

Your needs change over time. Maybe your home is starting to feel cramped, or maybe you have more space than you need that your adult children have moved out. Either way, you can use your equity as a down payment on a home that’s a better fit for what you need now and going forward. You may even have enough equity to buy your next house in cash

2. Upgrade Your Current Home

If you’re not ready to move just yet, you could reinvest some of your equity in your current home instead. Renovations like a kitchen refresh or updated bathrooms could add value when it’s time to sell down the line. Finishing your basement might provide your family more elbow room. Replacing windows could help with those high utility bills. Just be sure to talk to us before you tackle your project list, so you can prioritize updates that’ll give you the biggest return later on.

3. Fund a Major Life Goal

Equity can also help fund your life goals – whether it’s starting a business, saving for retirement, covering education costs, or helping out someone you love. Some homeowners are even passing down some of that wealth to help fund a loved one’s down payment on a home.

4. Avoid Foreclosure in Tough Times

While the number of home foreclosures continues to be small, if you’re struggling with payments, your equity can also be a lifeline. Many homeowners who hit financial hardships can sell their homes and walk away with money in their pockets instead of facing foreclosure. If that’s something on your mind, please talk to us about your options and how your equity can help.

Your Next Steps

If you’re interested in using your equity for one of the reasons above, here’s what to do:

Step 1: Ask us for a personalized equity assessment on your home.
Step 2: Meet with a financial advisor if you’re interested in using that equity.

When it comes to tapping into this resource, there are a few things you’ll want to keep in mind – like making sure you still have a good loan-to-value ratio (LTV) even if you use some of your equity.

That means, as a general rule of thumb, you want to maintain at least 20% equity in your home as a financial cushion – something many homeowners didn’t know back in the crash of 2008.

The good news is, according to the Intercontinental Exchange, most of today’s equity meets that guideline:

“As of Q4, mortgage holders have $17.3T in home equity, including $11.2T in tappable equity ‒ accessible via cash-out refinances or home equity lines while maintaining 20% equity in the property . . . ”

Bottom Line

Your home equity is one of the biggest financial assets you have. Whether you’re thinking about moving, remodeling, or working toward a big goal, it’s worth exploring your options. Reach out to us to learn more.

You can always find us at (508) 388-1994 [Mari and Hank] or (781) 423-8662 [Colleen].

What’s one goal you have that you’d go after right now, if you had the funds to do so?

Mari, Hank, and Colleen

Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.