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Believe it or not, almost&nbsp;<a target="_blank" href="https://www.instagram.com/p/C8VIz8ns2_F/?img_index=6">80%</a>&nbsp;of first-time homebuyers qualify for down payment assistance, but only 13% actually use it.&nbsp;And if you’re hoping to buy a home, this is a mission-critical gap to close – fast (see graph below): <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926050547.png" alt="" width="901" height="507" style="width: 901px; height: 507px;"></figure></div> Here’s what you need to know to make the most of your down payment in today’s housing market. Amplify Your Down Payment Potential For first-time buyers, the name of the game with down payments is making sure you’re taking advantage of all the resources out there designed to help you. And a bunch of them can get you to your goal faster than you may have thought possible. For example, there are loan options that require as little as 3% down, or even 0% for certain qualified borrowers, like&nbsp;<a target="_blank" href="https://www.instagram.com/p/C8VIz8ns2_F/?img_index=4">Veterans</a>. And let’s not forget down payment assistance, like grants and other opportunities, that help you cover the upfront cost of your down payment. If you’re interested in exploring those options and what you may be able to use to your advantage, connect with a trusted lender. Because if you don't at least see what’s available, you could be leaving money on the table and missing your chance at buying a home. These resources can boost your down payment. And a higher down payment could help lower your eventual monthly mortgage payment, and even avoid or reduce your fees like&nbsp;<a target="_blank" href="https://money.usnews.com/loans/mortgages/mortgage-low-down-payment">private mortgage insurance</a>. Don’t Let News Headlines About Down Payments Scare You There’s one more thing to address. News coverage has been talking about how the typical down payment is rising. A report from&nbsp;Redfin&nbsp;states: <blockquote>“The typical down payment for U.S. homebuyers hit a record high of $67,500 in June, up 14.8% from $58,788 a year earlier . . . This was the 12th consecutive month the median down payment rose year over year.” </blockquote> But don’t let those high dollars scare you. Just because the average down payment is rising doesn’t mean down payment requirements are going up. That’s a key piece of the puzzle to understand. It’s really just because people are choosing to put more down to try to offset higher mortgage rates, and current homeowners who are putting their equity to work are using that to increase their down payment on their next home. As&nbsp;HousingWire <a target="_blank" href="https://www.housingwire.com/articles/down-payment-amounts-are-exploding-in-these-metros/">explains</a>: <a target="_blank" href="https://www.housingwire.com/articles/down-payment-amounts-are-exploding-in-these-metros/">https://www.housingwire.com</a><a target="_blank" href="https://www.housingwire.com/articles/down-payment-amounts-are-exploding-in-these-metros/"> </a><blockquote>“. . . buyers are putting down a higher percentage of the purchase price to lower their monthly mortgage payment. And buyers also had more equity from their home sales, which gives them more cushion.”</blockquote> ​Let’s break those two reasons down a bit: 1. A bigger down payment helps lower your monthly mortgage payment.&nbsp;Affordability has been a challenge for many buyers recently, which is why those who have the ability to make a bigger down payment are going to do so in an effort to lower their future housing costs. 2. Buyers who already own a home have a record amount of equity to leverage.&nbsp;Someone who bought a home a few years ago has gained a significant amount of value in their house, thanks to home price appreciation. These people can put down much more than the average first-time buyer who hasn’t owned a home yet. Bottom Line What’s the best thing to do? Talk with a trusted lender about your options. They’ll help you figure out where you stand today and how to access the resources you may qualify for. Because help is out there, you just need to work with a pro to take advantage of it.​ Thank you, Vonda BaileyMY HOME REAL ESTATE​<a target="_blank" href="tel:(469) 358-6430">469-358-6430</a><a target="_blank" href="tel:(469) 358-6430"></a><a target="_blank" href="mailto:myhome.realestate@yahoo.com">​myhome.realestate@yahoo.com</a><a target="_blank" href="https://myhomereteam.com/">https://myhomereteam.com/</a>We believe in the quality of relationships, not the quantity of deals! 2024 DFW Real Producers Top 500 Agent!

The Down Payment Assistance You Didn’t Know About

Should you buy a home now or should you wait? That’s a question a lot of people have these days. And while what’s right for you is going to depend on a lot of different factors, here’s something you’ll&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/29/are-we-heading-into-a-balanced-market/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">want to consider</a>&nbsp;as you make your decision.As soon as you buy, you’ll start gaining equity. And you’d be surprised how quickly that can add up – even with more moderate&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/11/the-real-story-behind-whats-happening-with-home-prices/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">home price appreciation</a>.Each quarter,&nbsp;Fannie Mae&nbsp;releases the&nbsp;<a target="_blank" href="https://www.fanniemae.com/research-and-insights/surveys-indices/home-price-expectations-survey-hpes">Home Price Expectations Survey</a>. 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 project prices will continue to rise nationally through at least 2028 (see the graph below): <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926060352.png" alt="" width="821" height="462" style="width: 821px; height: 462px;"></figure></div> While home prices are going to vary from one local area to the next, this shows they’re expected to keep going up nationally. The size of the increase varies from year-to-year, but the important takeaway is that prices are forecast to rise every single year – just at a moderate pace.And while rising home prices may not sound great right now, once you own a home, that growth will be a big bonus for you. Here’s a look at what you stand to gain equity-wise once you buy. The graph below uses a typical home’s value and those HPES projections to show how much equity is at stake: <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926060424.png" alt="" width="825" height="464" style="width: 825px; height: 464px;"></figure></div> If you bought a $450,000 home at the beginning of this year, based on that starting value and the expert forecasts from the HPES, you could gain more than $90,000 in household wealth over the next five years. That’s significant.So, if you’re ready and able to buy, and growing your wealth is important to you, you’ve got an opportunity in front of you. And now that&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/17/mortgage-rates-drop-to-lowest-level-in-over-a-year-and-a-half/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">mortgage rates</a>&nbsp;have fallen, it may be time to consider making a move.To talk more about your options and what makes sense, lean on a pro. They’ll be able to tell you what home prices are doing in your area and what that means for your move (and your future equity).&nbsp;TheMortgage Reports&nbsp;says: <blockquote>“Given the intricacies of the current market, it’s more important than ever to stay informed and up to date about housing market conditions.&nbsp;Whether you’re looking to buy or sell in the remaining months of 2024, having a professional guide you through the process can make all the difference.”&nbsp; </blockquote> Bottom Line The decision to buy now or wait is a very personal one, but it’s valuable to have an&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/10/why-pre-approval-should-be-at-the-top-of-your-homebuying-to-do-list/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">expert’s perspective</a>. They won't push you, but they will&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/12/what-to-know-about-closing-costs/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">explain things</a>&nbsp;you may not have considered, like the equity that’s at stake. If you want help weighing your options and thinking through how the&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/23/how-growing-inventory-benefits-todays-buyers-infographic/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">current market</a>&nbsp;factors in, let’s connect. Thank you,Vonda BaileyMY HOME REAL ESTATE​​<a target="_blank" href="tel:(469) 358-6430">469-358-6430​</a>​​<a target="_blank" href="mailto:myhome.realestate@yahoo.com">myhome.realestate@yahoo.com</a>​​<a target="_blank" href="https://myhomereteam.com/">https://myhomereteam.com/</a>​We believe in the quality of relationships, not the quantity of deals!2024 DFW Real Producers Top 500 Agent!

Why Buying Now May Be Worth It in the Long Run

Every&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/03/should-you-sell-now-the-lifestyle-factors-that-could-tip-the-scale/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">seller</a>wants to get their house sold&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/07/17/why-fixing-up-your-house-can-help-it-sell-faster/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">quickly</a>, for as much money as they can, with as few&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/30/how-to-avoid-todays-top-seller-mistakes/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">headaches</a>as possible. And chances are, you’re no different. But did you know one of the biggest things that could jeopardize your success is the&nbsp;asking price&nbsp;for your home? Pricing your house correctly is one of the most crucial steps in the selling process. So, how do you know if you’re missing the mark? Here are four signs your high <a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/21/the-number-one-mistake-sellers-are-making-overpricing-their-house/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">asking price</a> might be turning potential buyers away—and why leaning on your&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/20/how-to-choose-a-great-local-real-estate-agent/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">real estate agent</a>&nbsp;is the best way to course correct. 1. You’re Not Getting Many Showings or Offers One of the most obvious signs your house may be overpriced is a lack of showings. If it's been on the market for several weeks and only a few buyers have come to see it—or worse, you haven’t gotten any&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/06/helpful-negotiation-tactics-for-todays-housing-market/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">offers</a>—it could be a clear indication the price isn’t matching up with what buyers expect. Because buyers who have been looking for a while can easily spot (and write off) a home that seems overpriced. Your real estate agent will coach you through this, so lean on their experience for what you may want to try to bring more buyers in, including considering a price cut. 2. Buyers Have Consistent Negative Feedback after Showings And if after the showings you do have, comments from the potential buyers aren’t great, you may need to course correct. Feedback from showings is an important part of understanding how buyers see your house. If they consistently say it's overpriced compared to other homes they’ve seen, it’s time to reconsider your pricing strategy. Your agent will gather and analyze this feedback for you, so you can look at how your house stacks up in the market. They can also suggest specific&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/09/home-inspections-for-sellers-how-to-prepare/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">improvements</a>&nbsp;or staging changes to better justify your asking price, or recommend one that aligns with today’s buyer expectations. As the&nbsp;National Association of Realtors&nbsp;(NAR)&nbsp;<a target="_blank" href="https://www.nar.realtor/determining-asking-price">explains</a>: <blockquote>“Based on all the data gathered, agents may make adjustments to the initial price recommendation. This could involve adjusting for market conditions, property uniqueness, or other factors that may impact the property's value.” </blockquote> 3. It’s Been on the Market for Too Long And that lack of interest is ultimately going to lead to it sitting on the market without any serious bites. The longer it lingers, the more likely it is to raise red flags for buyers, who may wonder if something is wrong with it. Especially in today’s market with growing inventory, a long listing period means your house is&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/06/25/how-long-will-it-take-to-sell-my-house/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">stale</a>&nbsp;– and that makes it even harder to sell. Your real estate agent will be able to give you perspective on how quickly other homes in your area are selling and walk you through what’s working for other sellers. That way you can decide together if there’s something you want to do differently. As a&nbsp;Bankrate&nbsp;article says: <blockquote>“Check with your agent about the average number of days homes spend on the market in your area. If your listing has been up significantly longer than average, that may be a sign to reduce the price.” </blockquote> 4. Your Neighbor’s House Sold Without an Issue And here’s the last one to watch out for. If similar homes in your area are selling faster than yours, it’s a clear sign that something is off. This could be due to things like a lack of upgrades, outdated features, or a less desirable location. Or, it may be priced too high. Your agent will keep you up to date on your competition and what changes, if any, you need to make your home more competitive. They’ll offer advice on small updates that could increase your home’s appeal or how to adjust your strategy to reflect the reality of the market today. Bottom Line Pricing a home correctly is both an art and a science. It requires a deep understanding of the market and buyer psychology. And when the price isn’t drawing in buyers, there’s no better resource than your agent on what you may want to do next.&nbsp; Thank you,Vonda BaileyMY HOME REAL ESTATE​​​<a target="_blank" href="tel:(469) 358-6430">469-358-6430</a>​​<a target="_blank" href="mailto:myhome.realestate@yahoo.com">​​​myhome.realestate@yahoo.com</a>​​<a target="_blank" href="https://myhomereteam.com/">​​https://myhomereteam.com/​</a>​We believe in the quality of relationships, not the quantity of deals!2024 DFW Real Producers Top 500 Agent!

Is Your House Priced Too High?

If you’ve been hesitant to&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/30/how-to-avoid-todays-top-seller-mistakes/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">list your house</a>&nbsp;because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent.After months of high rates keeping buyers on the sidelines, things are starting to shift. Rates are already coming down due to a number of economic factors. And yesterday the&nbsp;Federal Reserve&nbsp;cut the Federal Funds Rate for the first time since they began raising that rate in&nbsp;<a target="_blank" href="https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm">March 2022</a>. And while they don’t control mortgage rates, this sets the stage for mortgage rates to fall even further than they already have – especially since more cuts from the Fed are expected into next year. And lower&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/26/what-mortgage-rate-are-you-waiting-for/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">mortgage rates</a>&nbsp;are bringing more buyers back into the market. Lisa Sturtevant, Chief Economist at&nbsp;Bright MLS, says: <blockquote>“A drop in the cost of borrowing will help fuel more homebuyer demand . . . Falling rates will also bring more sellers into the market.”</blockquote>The best part? You can&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/09/03/should-you-sell-now-the-lifestyle-factors-that-could-tip-the-scale/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">take advantage</a>&nbsp;of that renewed buyer interest. As Rates Fall, Buyer Activity Goes Up The&nbsp;<a target="_blank" href="https://www.mortgagenewsdaily.com/data/mortgage-applications">graph below</a>&nbsp;illustrates the relationship between falling mortgage rates and rising buyer activity. The orange line represents the average 30-year fixed mortgage rate, while the blue line shows the&nbsp;Mortgage Bankers Association&nbsp;(MBA)&nbsp;Mortgage Application Index, which tracks the number of mortgage applications.As you can see, as mortgage rates (orange) come down, the&nbsp;Mortgage Application Index&nbsp;(blue) rises, showing more people start to re-engage in the process (see graph below): <div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240926095828.png" alt="" data-rotate="" data-proportion="true" data-rotatex="" data-rotatey="" width="745" height="419" data-size="745px,419px" data-align="none" data-index="0" data-file-name="20240919-Mortgage-Demand-Rises-When-Rates-Fall-original.png" data-file-size="37219" data-origin="," style="width: 745px; height: 419px;"></figure></div> What This Means for You According to the&nbsp;<a target="_blank" href="https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales">National Association of Realtors</a>&nbsp;(NAR), home sales increased in July, which was a welcome shift after four straight months of declines. If you're a homeowner thinking about selling, this uptick in buyer activity works in your favor.More buyers means more competition, which can lead to higher offers and shorter time on the market for your house. And, according to Edward Seiler, AVP of Housing Economics at the&nbsp;Mortgage Bankers Association&nbsp;(MBA), this trend is expected to continue: <blockquote>“MBA is expecting that slower home-price appreciation, coupled with lower rates, will ease affordability constraints and&nbsp;lead to increased activity in the housing market.”</blockquote>All in all, the market is becoming more accessible to a wider range of buyers, which could result in even more people looking to purchase a house like yours. With more buyers entering the market, now’s the time to start getting your house ready&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/21/the-number-one-mistake-sellers-are-making-overpricing-their-house/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">to sell</a>. Bottom Line The recent decline in mortgage rates is already driving more buyers into the market, and experts project this trend will continue.&nbsp;<a target="_blank" href="https://www.simplifyingthemarket.com/en/2024/08/20/how-to-choose-a-great-local-real-estate-agent/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">Let’s work together</a>&nbsp;to take advantage of this increased buyer demand and get your house ready to sell. Thank you,Vonda BaileyMY HOME REAL ESTATE​​​<a target="_blank" href="tel:(469) 358-6430">469-358-6430​​​</a>​​<a target="_blank" href="mailto:myhome.realestate@yahoo.com">myhome.realestate@yahoo.com</a>​​<a target="_blank" href="https://myhomereteam.com/">​​https://myhomereteam.com/​</a>​We believe in the quality of relationships, not the quantity of deals!2024 DFW Real Producers Top 500 Agent!

Falling Mortgage Rates Are Bringing Buyers Back

<div class="se-component se-image-container __se__float-none"><figure><img src="https://quicktours-static.s3.us-west-1.amazonaws.com/agent_richtext/20240603090632.jpg" alt="" data-rotate="" data-proportion="true" data-size="1076px,2383px" data-align="none" data-file-name="Top-Reasons-To-Own-a-Home-MEM.jpg" data-file-size="528787" data-origin="," origin-size="1300,2879" style="width: 1076px; height: 2383px;"></figure></div> <h3 style="line-height: 1.2;text-align: start">Some Highlights</h3><ul><li><a href="https://www.simplifyingthemarket.com/2024/05/07/tips-for-younger-homebuyers-how-to-make-your-dream-a-reality/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">Buying a home</a>&nbsp;has powerful financial and non-financial benefits. It creates more&nbsp;<a href="https://www.simplifyingthemarket.com/2024/05/01/the-perks-of-buying-over-renting/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">stability</a>, helps grow your net worth, and gives you an undeniable sense of pride.</li><li>While today’s market can be challenging for&nbsp;<a href="https://www.simplifyingthemarket.com/2024/03/18/4-tips-to-make-your-strongest-offer-on-a-home/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">buyers</a>, use these reasons to remind you of why homeownership is so worthwhile.</li><li>When you’re ready to enjoy all the amazing advantages that come with&nbsp;<a href="https://www.simplifyingthemarket.com/2024/03/20/does-it-make-sense-to-buy-a-home-right-now/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb">owning a home</a>, let’s get in touch.</li></ul>

Top Reasons To Own a Home [INFOGRAPHIC]

​ Recent headlines may leave you wondering what’s next for&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/02/23/how-changing-mortgage-rates-impact-you-infographic/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">mortgage rates</a>.&nbsp;Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the&nbsp;Federal Reserve(the&nbsp;Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the&nbsp;Fed&nbsp;met last week, a cut didn’t happen — at least, not yet.&nbsp;There are a lot of factors the&nbsp;Fed&nbsp;considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/01/30/2-of-the-factors-that-impact-mortgage-rates/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">finer details</a>. What you really want is the answer to this question:&nbsp;does that mean&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/03/12/what-mortgage-rate-do-you-need-to-move/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">mortgage rates</a>&nbsp;aren’t going to fall?&nbsp;Here’s what you need to know.<h4 style="text-align: start">Mortgage Rates Are Still Expected To Drop This Year</h4>While it hasn’t happened yet, that doesn’t mean it won’t. Even Jerome Powell, the Chairman of the&nbsp;Fed,&nbsp;<a href="https://www.federalreserve.gov/mediacenter/files/FOMCpresconf20240320.pdf" rel="noopener noreferrer">says</a>&nbsp;they still plan to make cuts this year, assuming inflation cools:<blockquote><div>“We believe that our policy rate is likely at its peak for this tightening cycle and that,&nbsp;if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”</div><div>​ </div></blockquote>When this happens, history shows mortgage rates will likely follow. That means hope isn’t lost.&nbsp;As a recent article from&nbsp;Business Insider&nbsp;<a href="https://www.businessinsider.com/best-mortgage-refinance-rates-today-thursday-21-2024-3" rel="noopener noreferrer">explains</a>:<blockquote><div>“As inflation comes down and the Fed is able to start lowering rates,&nbsp;mortgage rates should go down, too. . .”</div><div> </div></blockquote><h4 style="text-align: start">What This Means for You</h4>But you don’t necessarily want to wait for it to happen. Mortgage rates are notoriously hard to forecast. There are so many factors at play and any one of those can change the projections as the economy shifts. And it’s why the experts offer this advice.&nbsp;As&nbsp;<a href="https://blog.firstam.com/reconomy-podcast/whats-the-outlook-for-the-2024-spring-home-buying-season" rel="noopener noreferrer">Mark Fleming</a>, Chief Economist at&nbsp;First American,&nbsp;<a href="https://blog.firstam.com/reconomy-podcast/whats-the-outlook-for-the-2024-spring-home-buying-season" rel="noopener noreferrer">says</a>:<blockquote><div>“Well, mortgage rate projections are just that, projections, not promises and don't forget how hard it is to forecast them. . .So my advice is to never try to time the market . . . If one is financially prepared and buying a home aligns with your lifestyle goals, then it could be the right time to purchase.&nbsp;And there's always the refinance option if mortgage rates are lower in the future.”</div></blockquote>Basically, if you’re looking to move and trying to time the market, don’t. If you’re ready, willing, and able to move, it may still be worth it to do it now, especially if you can find the home you’ve been searching for. <h3 style="text-align: start">Bottom Line</h3>If you’re looking to&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/03/18/4-tips-to-make-your-strongest-offer-on-a-home/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">buy a home</a>, let’s&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/02/28/why-you-want-an-agents-advice-for-your-move/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">connect</a>&nbsp;so you have someone keeping you up-to-date on mortgage rates and helping you make the&nbsp;<a href="https://www.simplifyingthemarket.com/en/2024/03/11/finding-your-perfect-home-in-a-fixer-upper/?a=1000025185-ccd5ded6415f0f0880bab079f18b54cb" rel="noopener noreferrer">best decision</a>&nbsp;possible.

What’s the Latest with Mortgage Rates?

<h1>An Open Letter from Real Estate Agents in these Uncertain Times</h1>&nbsp;&nbsp;<img src="https://www.bestrealestateblog.com/wp-content/uploads/2020/03/open-letter-uncertain-times-cover.jpg">It’s a difficult time for everybody, especially those whose health has been affected by the pandemic. It’s difficult for the brave healthcare workers putting their lives at risk trying to heal the sick, and it’s difficult for the men and women spending their days and nights keeping people fed, keeping shelves stocked, making sure supplies are delivered, floors are cleaned, and everything in between.And, it’s probably a difficult time for you too.Modern life is stressful, even without a pandemic. The boss wants you to do more, the kids need to be fed, the bills have to get paid, and the house needs to be maintained. But now, those stresses have all been magnified and laid bare.So what do real estate agents want you to know during this complicated, stressful, and difficult time? And why should you even care? We are, after all, here to serve&nbsp;you.Well, the answer is… that’s&nbsp;exactly&nbsp;what we want you to know: we’re here to help you!And not just that, but we’re in this&nbsp;with&nbsp;you. Uncertainty, doubt, stress, and everything in between affects us just as it does you, and we have the same fears as you do about where the future is headed.That said, it’s not all gloom and doom. There are solid reasons to be optimistic, especially when it comes to housing.First, this is not a housing recession like the crash of 2008, where the collapse of the economy was tied directly to mortgage backed securities and skyrocketing default rates.In fact, of the last five recessions, only 2008 saw home values drop precipitously, while they&nbsp;<a href="https://www.corelogic.com/blog/2019/03/housing-recessions-and-recoveries.aspx" rel="noopener noreferrer" target="_blank">continued increasing in three other instances</a>, and only decreased by -1.9% in (1991).That’s not to say we’re even going into a recession, especially since forecasts from some of the brightest minds in finance predict&nbsp;<a href="https://www.goldmansachs.com/insights/pages/us-daily-20-march-2020.html" rel="noopener noreferrer" target="_blank">positive GDP growth of 12% starting in June (Q3)</a>.Second, this crisis has the attention of the world, and there’s an aggressive push to put an end to it sooner than later. Of course, when we’re in the thick of it, it can be difficult to see the light at the end of the tunnel. But social distancing seems to be working, and nearly every country in the world is dumping massive resources in search of a treatment, and a cure. Almost everyone is doing what they can (or at least have to) in order to give this crisis an end date so everyone can get back to business as usual.So, while we all struggle to adjust to this strange moment of time we’re living in, it’s also good to keep things in perspective.Even though the process has been interrupted or paused in some ways and areas, homes are still selling, people are still buying, and the value that you’ve accumulated, by all accounts, is likely to remain.In short, people still&nbsp;want&nbsp;to buy and sell houses. And while there are certainly many people who will be affected financially due to the pandemic, many others will not. They may not be going into the office, but they’re still employed and doing their jobs—just from home.So, if you want or need to buy or sell right now, reach out, and we’ll work together to get it done in a safe and socially-distanced manner.And if you’ve been considering buying or selling your home, and this current environment has made you rethink things, that’s perfectly okay too! We’re here to guide you and answer your questions at any time, not just when you’re ready to list or buy.We, like you, can’t wait until things get back to normal, and for many of us, simply talking to you about real estate helps things feel normal, so please don’t hesitate to call!And remember, you’re not alone in this.&nbsp;Please reach out if we can help with any of your real estate or non- real estate needs!&nbsp;Wishing you and your family all the best in these uncertain times!&nbsp;Vonda BaileyMy Home Real Estate TeamTX Real Estate Broker / AgentWYLIE, TX469-358-6430&nbsp;&nbsp;

An Open Letter from My Home Real Estate in these uncertain times

Do you want to increase the chances that you get a good deal on a house when you buy one!?
Of course you do. Who doesn&rsquo;t?
But most people go about it all wrong. They think that you have to find a desperate seller, or some overlooked, underpriced home that&rsquo;s a steal.
Sure, those are ways to get a good deal, but there are always people waiting in the wings&nbsp;wanting&nbsp;to scoop those up if and when they appear. But most aren&rsquo;t ready and able to do anything about it.
Here are 6 tips to help you be able and ready to get those deals when you find one.
<h3>1. Be flexible with your closing date.</h3>
This sounds so easy and simple. And it is. Many buyers simply cannot be flexible with their closing date. They need to time the closing on the sale of their home, or the end of their lease, for instance.
People selling their home are no different. This is a super common issue. And finding a buyer who can be entirely flexible is a huge benefit to a homeowner. Such a huge benefit that it can help you negotiate a better price and terms than someone who can&rsquo;t be flexible.
<h3>2. Have cash.</h3>
You&rsquo;ve probably heard the term &ldquo;cash is king&rdquo;. And it&rsquo;s true, to a degree. A homeowner isn&rsquo;t necessarily going to give you a steal just because you have cash&hellip;but they might if they&rsquo;re in a rush, or they&rsquo;ve been burned by a previous buyer who was turned down for a mortgage.
The weight of cash will vary from seller to seller. And, obviously, having enough cash to buy a home outright isn&rsquo;t something a lot of people have. But, if you have the cash, it can certainly help.
<h3>3. Be pre-approved for a mortgage.</h3>
This is also pretty much a basic in the world of real estate. Talk to any real estate agent and they&rsquo;ll tell you this is a must-have.
However, you&rsquo;d be surprised at how many buyers don&rsquo;t have a solid pre-approval in hand when they find a great deal. So, have that figured out and ready, so that when a good deal shows up, you&rsquo;re ready to roll.
<h3>4. Be ready to jump.</h3>
Oddly, a lot of buyers looking for a good deal feel like it makes sense to wait a bit once they find a good deal. Let the owner stew a little bit, and come begging for an offer.
That can work&hellip;
It can also cost you a great deal. All it takes is someone else coming across the deal and scooping it up before you even make an offer. In the least, it can create a bidding war between you and someone else&hellip;and then it might not be such a deal anymore.
Another thing many deal-seekers do is wait to see if a better deal comes around. Deals don&rsquo;t necessarily come around every day&hellip;or week&hellip;or month. Maybe not even that many in a year.
So, don&rsquo;t wait. Go after a deal when you see it.
<h3>5. Go after houses that have been on the market for a long time.</h3>
So many buyers ignore houses that have been sitting on the market for a long time. They often think something must be wrong with the house, or feel like the owner isn&rsquo;t going to listen to lower offers&hellip;so why waste their time.
But, those are great opportunities.
Those sellers are most likely desperate for anyone to simply come see the house, let alone make an offer. Sure, they aren&rsquo;t necessarily going to love you coming in with a low offer. But, since most buyers are ignoring the house, and it&rsquo;s been on for quite some time, the chances of you having any competition are slim. So, you can take more time negotiating the best deal possible.
<h3>6.&nbsp;Don&rsquo;t&nbsp;have multiple real estate agents looking for you.</h3>
So many buyers who are specifically looking for a great deal feel like it makes sense to have as many agents looking out for deals for them as possible.
This backfires. All it leads to is a bunch of agents who&rsquo;re halfheartedly looking for you. Agents will figure out if you have other agents looking for you as well, and will likely not pay you the attention you need if you&rsquo;re going to get the best deal.
Be loyal to one, rather than having a bunch of half-looking, half-caring agents. Be all in.
Your loyalty and commitment to the agent and the process of finding and buying a great deal will pay off.
<h3>In summary</h3>
The best way to find and get yourself a great real estate deal is to be ready. So many people just go around saying, &ldquo;Got any hot deals?&rdquo; to every real estate agent they come across.
However, they aren&rsquo;t actually able and ready when and if the time comes. Or they think that it&rsquo;s about driving a hard bargain when negotiating, or playing some sort of game with the seller.
Nope. The best way to get a deal is to be a solid, ready, and able buyer, who can give sellers something beyond a higher price.

6 Tips To Get A Better Deal When You Buy A Home

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