Tuesday, September 13, 2022 / by Shane Kilby
The market is shifting—is it time to search for your dream home?
Buying a home can be a struggle on a good day, and the market over the last few years has definitely not made it any easier. We had issues with low housing inventory and fierce bidding wars.
The good news is that things are starting to shift. Inventory is increasing, more homeowners are listing their houses, and the rising mortgage rates are moderating the market. This means buyers have more options when searching for their next home. The past bidding frenzy is cooling off and stabilizing our market.
If you’ve put your home search on pause because you were worried you wouldn’t find the right home or would get outbid, now might be the right time to jump back into the market. It won’t be easy—inventory is growing yet still low—but it won’t feel as impossible as it has in recent years.
Are you ready to get started on your home-buying journey? Reach out to me or one o ...
Wednesday, August 31, 2022 / by Shane Kilby
Why now is still a good time to buy a home despite our shifting market.
Should you buy a home in this market? It is indeed shifting away from the intense one we’ve seen these past two years, but that doesn’t mean it’s a bad time to purchase your dream house.
We don’t expect prices to go down in the next few years. At 0:44, you can see a graph showing the results of the home price expectations survey. As part of this survey, over 100 housing experts are asked every quarter about where they see home values going. Their current forecast predicts just over 9% appreciation this year and healthy price growth for the next four years.
You can confidently buy knowing that experts are predicting ongoing appreciation. Once you purchase a home, that price growth helps you build equity quicker. If you’ve been putting off your home search or sitting on the sidelines, now might be the time to get into the market.
My team and I would love to have a no-str ...
Tuesday, August 9, 2022 / by Shane Kilby
Your equity has grown considerably over the last couple of years.
Chances are that you have a lot more equity in your current property than you realize. That can be a game-changer when you prepare to buy your next home. When you sell your house, you can use your equity to help fund your next move. It may be enough to cover some (if not all) of the down payment on your next home.
How does equity work? As you pay down your home loan and as home prices increase, the increasing value you own is your equity. Due to rising home prices over the past few years, your equity has likely grown considerably. According to Core Logic, over the past year alone, homeowners gained record amounts of equity. The average home’s equity increased by $64,000 over the last 12 months.
If you'd like more information like a CMA to determine what your property would sell for in today's market, reach out to me by phone or email. I look forward to hearing from you. ...
Friday, June 24, 2022 / by Shane Kilby
Should you be renting in this market? Here’s why you shouldn’t.
This crazy market has resulted in some buyers feeling fatigued with their home searches. They’re starting to wonder if it’s a good idea to just rent for now while they wait for the market to cool down. However, is that the best real estate decision? Today I’ll share my thoughts on this topic to help you decide whether to buy or rent now.
"The last thing you want is to be locked into a 12-month rental lease."
According to the National Association of Realtors, the average homeowner has around $300,000 in equity, while the average renter has an $8,000 net worth. If you buy a home now, you can be in a better position in the future, even with inflation and climbing interest rates. The last thing you want is to be locked into a 12-month rental lease.
Buyers, here’s my message to you: I know you’re exhausted, but hang in there. You will get better tax advantages ...
Thursday, June 9, 2022 / by Shane Kilby
When is the best time to buy or sell a home? Consider these factors:
If you’re thinking about buying or selling a home, you’re likely wondering when is the best time to enter the market. Buyers and sellers often enter the market at different times for different reasons. They might do it for a financial reason, to accommodate a major life change, or to cash out on their home and pay off some debt. That said, if you have the choice of when to enter the market, there are a few things you’ll need to consider.
Feel free to follow along in the video above or use the timestamps below to navigate the discussion at your leisure:
0:00 — Introduction
1:42 — Every market is different
2:28 — Why winter/early spring have historically been great times to list in north Alabama
3:55 — How fluctuating interest rates can impact when you should enter the market
5:45 — Seasonal cha ...