fbpx

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC]

A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | Simplifying The Market A+ Reasons to Hire a Real Estate Pro [INFOGRAPHIC] | Simplifying The Market  

Some Highlights:

  • There are many reasons to hire a real estate pro to help you buy your dream home or sell your current house.  Hiring a pro is one of the most powerful decisions you can ever make.
  • A real estate professional has the experience to help you confidently navigate through the entire process.
  • Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.
 

How Property Taxes Can Impact Your Mortgage Payment

How Property Taxes Can Impact Your Mortgage Payment When buying a home, property taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area? When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI – depending on how you’re including your taxes in your mortgage payment. P&I stands for Principal and Interest and both are parts of your monthly mortgage payment that go toward paying off the loan you borrow. PITI stands for Principal, Interest, Taxes, and Insurance.  They’re all important factors to calculate to exactly determine what the cost of your new home will be. TaxRates.org defines property taxes as,
“A municipal tax levied by counties, cities, or special tax districts on most types of real estate – including homes, businesses, and parcels of land. The amount of property tax owed depends on the appraised fair market value of the property, as determined by the property tax assessor.”
This organization also provides a map showing annual property taxes by state (including the District of Columbia), from lowest to highest, as a percentage of median home value.How Property Taxes Can Impact Your Mortgage Payment | Simplifying The Market The top 5 states with the highest median property taxes are New Jersey, New Hampshire, Texas, Nebraska, and Wisconsin. The states with the lowest median property taxes are Louisiana, Hawaii, Alabama, and Delaware, followed by the District of Columbia.  Guess where people are moving from and more people are moving to!

Bottom Line

Depending on where you live, property taxes can have a big impact on your monthly payment. To make sure your estimated taxes will fall within your desired budget, let’s get together today.  Together we can determine how the area you choose can make a difference in your costs when buying a home.

A Recession Does Not Equal a Housing Crisis

A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC] | Simplifying The Market

Recession ≠ Housing Crisis

Chart showing A Recession Does Not Equal a Housing Crisis  

Some Highlights:

  • There is plenty of talk in the media about a pending economic slowdown.  Just like a year ago when recession was all the talk, here we go again.  Sooner or later the experts are bound to be right!
  • The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th.
  • Many experts predict a potential recession is on the horizon. However, housing will not be the trigger, and home values will still continue to appreciate. It will not be a repeat of the crash in the 2008 housing market.

Top Priorities When Moving with Kids

[caption id="" align="alignnone" width="358"]Top Priorities When Moving with Kids Top Priorities When Moving with Kids[/caption] According to the Pew Research Center, around 37% of U.S students will soon be going back to school. The rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, school district, and more. Recently, the 2019 Moving with Kids Report from the National Association of Realtors®(NAR) studied “the different purchasing habits as well as seller preferences during the home buying and selling process.” This is what they found:

When Purchasing a Home With Kids

The major difference between the homebuyers who have children and those who do not is the importance of the neighborhood. In fact, 53% said the quality of the school district is an important factor when purchasing a home, and 50% select neighborhoods by the convenience to the schools. Buyers with children also purchase larger, detached single-family homes with 4 bedrooms and 2 full bathrooms at approximately 2,110 square feet. Furthermore, 26% noted how childcare expenses delayed the home-buying process and forced additional compromises: 31% in the size of the home, 24% in the price, and 18% in the distance from work.

When Selling a Home With Kids

Of those polled, 23% of buyers with children sold their home “very urgently,” and 46% indicated “somewhat urgently, within a reasonable time frame.” Selling with urgency can pressure sellers to accept offers that are not in their favor. Lawrence Yun, Chief Economist at NAR explains,
“When buying or selling a home, exercising patience is beneficial, but in some cases – such as facing an upcoming school year or the outgrowing of a home – sellers find themselves rushed and forced to accept a less than ideal offer.”
For sellers with children: 21% want a real estate professional to help them sell the home within a specific time frame. 20% at a competitive price. 19% to market their home to potential buyers.

Bottom Line

Buying or selling a home can be driven by different priorities when you are also raising a family. If you’re a seller with children and looking to relocate, let’s get together. We will navigate the process in the most reasonable time frame for you and your family.

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC] | Simplifying The Market A Latte a Day Keeps Homeownership Away [INFOGRAPHIC] | Simplifying The Market

Some Highlights:

  • The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!
  • Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster.
  • Home ownership is the best way to build family wealth.
  • Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster thank you think.

5 Easy Steps to Avoid Media Overload

5 Easy Steps to Avoid Overwhelm from Media Overload | Simplifying The Market When someone is thinking about buying or selling a home, they want to be well-informed. They want to make the right decision for themselves and their family. They scour the internet for any information they can find about the housing market. Today, there is an abundance of information available. It is often conflicting news. It can easily lead to confusion and concern, perhaps even causing a potential buyer or seller to cancel their plans to move altogether. Instead, the best things to do are sit down and take a deep breath. In a recent article, Jeff Davidson, a recognized speaker on the subject of productivity, explained:
“The pace at which new information arrives will accelerate every day…Too often, the reflex to take action only exacerbates your time-pressure problems. Do not bite off more than you can chew, and acknowledge that often, the wisest response to too much competition for your time and attention is to simply slow down to assess the best way to proceed.”
To that point, here is an easy five-step process to follow if all of this information seems overwhelming:
  1. Calm Down – Don’t let the confusion lead to concern or panic.
  2. Slow Down – As Davidson suggests, just “slow down to assess.”
  3. Think – Remember the reasons you wanted to move in the first place. Are they still important?
  4. Plan – Determine whether or not the new information should change anything. If you need further clarification on some points, reach out to a real estate professional in your area for a better understanding.
  5. Act – After thorough consideration, feel good about your decision, whether you decide to move or not.

Bottom Line

Don’t let the plethora of seemingly conflicting information on the housing market stop you from moving forward with your life. Let’s get together to ensure you get the valuable counsel you need so you can make the right decision for you and your family.