Uncategorized – Page 4 – Make Your Move with Mari

Time to Begin Again?

It’s really not a surprise that 70% of buyers paused their home search last year. Maybe you were one of them. And if so, no judgment. Conditions just weren’t great.

Inventory was too low, prices were too high, and mortgage rates were bouncing all over. That made it really hard to find a home you loved – and could afford. And why sell if you’re not sure where you’re going to go?

But here’s the thing: the market’s shifting. And it might be time to hit play again.

The Inventory Sweet Spot

More homeowners are jumping back into their search to make a move this year. Builders are finishing more homes. And together, that’s creating more options for you when you move – maybe even the home you’ve been waiting for.

More homes = more possibilities.

But there’s more to it than that. When you sell, you don’t want to feel like it’s impossible to find your next home. At the same time, you also don’t want inventory to be so high that it takes ages for your house to sell. Right now, you’ll get the best of both worlds.

This data will help paint the picture for you. According to Realtor.com, inventory has jumped 28.5% nationally since this time last year. On Cape Cod, the number of homes available is up 13.5% this year versus last. Those numbers are still below pre-pandemic levels but are trending in the right direction.

Basically, there are more homes to choose from when you make your move, but not so many that you’ll struggle to sell your current house. Your home should sell quickly if you work with an agent to it’s priced right and prepped to impress.

More options. Less chaos. Solid demand: That’s the real sweet spot.

But here’s something else to consider. Data from Realtor.com also shows inventory has been on the rise for 17 straight months. And experts agree it’s likely to continue climbing throughout the year. As Lance Lambert, Co-Founder of ResiClub explains:

“The fact that inventory is rising year-over-year . . . strongly suggests that national active housing inventory for sale is likely to end the year higher.”

So, this may actually be the best time to sell, too. Your house may stand out more now than it would as the year goes on and inventory grows even more. Wait too long, and you may be one of many trying to stand out later this year.

Bottom Line

If you’ve been waiting for the housing market to give you a sign – it just did. Whether you’re looking to move up, scale down, or relocate completely, this might be the best balance we’ve seen in a while.

What’s holding you back from taking advantage of this sweet spot? Let’s talk through it and see what’s possible.

You can find us at our new dedicated business cell phone numbers: 508-388-1994 (Mari) or 508-338-9928 (Hank). Let’s talk soon…

Mari and Hank

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision.

Exciting News!

We have some exciting news to share!

Today Real Estate has launched a new technology platform to provide a more interactive search experience to better serve your real estate information needs. You’ll notice a new look and feel to alerts and reports you receive.

With the increase in our business, we also have new dedicated business numbers to work more efficiently and effectively with you. Please update your contact info for us to:

Mari: (508) 388-9924

Hank: (508) 338-9928

Our business email addresses remain the same, as do our personal cell phone numbers.

Please call us on our new numbers and let us know what you think of the new platform.

We’re also looking forward to seeing you this coming Saturday afternoon (4/19) from 1:00 – 3:00pm at the Today Real Estate parking lot on Cotuit Rd. in Sandwich as Grear White Shred will available again this year to safely discard your valuable documents.

With tax season over, there are records that you need to safely dispose of, as well as old bank statements, pay stubs and other documents that you’ve been planning to get rid of.

Merely ripping them up and putting them in your recycling really isn’t good enough, if you want to truly protect your identity and personal information. Great White Shred will turn everything into something like confetti – free of charge!

We ask that, if possible, you bring a monetary donation for the Sandwich Food Pantry.

Enjoy free ice cream from Perry’s ice cream truck, too!

Thanks to Patti Lotane/Cape Cod 5 and Aerial Advantage Photography for their support.

Mari and Hank

Time in the Market vs. Timing the Market

Are you trying to decide whether it makes more sense to buy a home now or wait? There’s a lot to consider, from what’s happening in the market to your changing needs. But generally speaking, aiming to time the market isn’t a good strategy – there are too many factors at play for that to even be possible.

That’s why the real experts — not your dear old Uncle Bob who “knows a little something about real estate” — say that time in the market is better than timing the market.

In other words, if you want to buy a home and you’re able to make the numbers work, doing it sooner rather than later is usually worth it. Bankrate explains why: “No matter which way the real estate market is leaning, buying now means you can start building equity immediately.”

Here’s some data to break this down so you can really see the benefit of buying now versus later.

Each quarter, Fannie Mae releases the Home Price Expectations Survey. It asks over one hundred economists, real estate experts, and investment and market strategists what they forecast for home prices over the next five years. In the latest release, experts are projecting home prices will continue to rise through at least 2029 – just at a slower and more normal pace than they did over the past few years (see the graph below):

But what does that really mean for you? To give these numbers context, the graph below uses a typical home value to show how it could appreciate over the next few years using those HPES projections (see graph below). This is what you could start to earn in equity if you buy a home in early 2025.

In this example, let’s say you go ahead and buy a $400,000 home this month. Based on the expert forecasts from the HPES, you could gain more than $83,000 in household wealth over the next five years. That’s not a small number. If you keep on renting, you’re losing out on this equity gain.

And while today’s market has its fair share of challenges, this is why buying is going to be worth it in the long run. If you want to buy a home, don’t give up. There are creative ways you can make your purchase possible. From looking at more affordable areas, to considering condos or townhomes, or even checking out down payment assistance programs, there are options we can suggest to help you make it happen.

So sure, you could wait. But if you’re waiting it out to perfectly time the market, you’re missing out.

If you’re torn between buying now or waiting, don’t forget that it’s time in the market, not timing the market that truly matters. Let’s connect if you want to talk about what you need to do to get the process started today.

Mari and Hank