How Buying or Selling a Home Benefits the Economy and Your Community
If you’re thinking of buying or selling a home, chances are you’re focusing on the many extraordinary ways it’ll change your life. But do you know it has a large impact on your community too? To measure that impact, the National Association of Realtors (NAR) releases a report each year to highlight just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy: As the visual shows, a single home sale can have a significant effect on the overall economy. To dive a level deeper, NAR also provides a detailed look at how that varies state-by-state for newly built homes (see map below): You may be wondering: how can a single home sale have such a major effect on the economy? For starters, there are multiple industries that play a role in the process. Numerous contractors, specialists, lawyers, town and city officials, and so many other professionals are all necessary at various stages during the transaction. Every individual you work with, like your trusted real estate advisor, has a team of professionals involved behind the scenes. That means when you buy or sell a home, you’re leaving a lasting impression on the community at large. Let the knowledge that you’re contributing to those around you while also meeting your own needs help you feel even more empowered when you decide to make your move this year. Homebuyers and sellers are economic drivers in their community and beyond. Let’s connect so you have the Porter group on your side if you’re ready to get started. It won’t just change your life; it’ll make a powerful impact on your entire community. Schedule a Zoom Meeting with Steve!📅 Want to stay updated? Join our VIP Email List!
How To Approach Rising Mortgage Rates as a Buyer
In the last few weeks, the average 30-year fixed mortgage rate from Freddie Mac inched up to 5%. While that news may have you questioning the timing of your home search, the truth is, timing has never been more important. Even though you may be tempted to put your plans on hold in hopes that rates will fall, waiting will only cost you more. Mortgage rates are forecast to continue rising in the year ahead. If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rise. How Rising Mortgage Rates Impact You Mortgage rates play a significant role in your home search. As rates go up, they impact how much you’ll pay in your monthly mortgage payment, which directly affects how much you can comfortably afford. Here’s an example of how even a quarter-point increase can have a big impact on your monthly payment (see chart below): With mortgage rates on the rise, you’ve likely seen your purschasing power impacted already. Instead of delaying your plans, today’s rates should motivate you to purchase now before rates increase more. Use that motivation to energize your search and plan your next steps accordingly. The best way to prepare is to work with a trusted real estate advisor now. An agent can connect you with a trusted lender, help you adjust your search based on your budget, and make sure you’re ready to act quickly when it’s time to make an offer. Serious buyers should approach rising rates as a motivating factor to buy sooner, not a reason to wait. Waiting will cost you more in the long run. Let’s connect today so you can better understand your budget and be prepared to buy your home even before rates climb higher. Schedule a Zoom Meeting with Steve!📅 Want to stay updated? Join our VIP Email List!
Why Staging a Home is Important?
Staging a home is one of the best ways to sell it fast and for top dollar. 50% of staged homes sell between 1 - 10% increase in dollar value offers from buyers and decreased the amount of time a home spent on the market. 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own. Staging transforms homes and makes them look brand new. It is designed to showcase a home's best assets. The goals of staging are to make the home appear move-in ready and help buyers visualize themselves living in it. Home staging is not the same as decorating. Decorating is about personal style, while staging makes your home appealing to the largest pool of buyers. The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room. Here's an Easy and Simple Home Staging Tips to Sell Your Home View and FREE Download Want to Join our VIP Email List?
Categories
Recent Posts
