Posts with tag 'selling your home'
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15
Learn how to leverage your equity when you sell your home
One of the benefits of being a homeowner is that you build equity over time. By selling your house, that equity can be used toward purchasing your next home. But before you can put it to use, you should understand exactly what equity is and how it grows. Bankrate explains it like this:
"Home equity is the portion of your home you've paid off – in other words, your stake in the property as opposed to the lender's. In practical terms, home equity is the appraised value of your home minus any outstanding mortgage and loan balances."
Majority of Americans Have a Large Amount of Equity
If you've owned your home for a while, you've likely built up some equity – and yo...
1
Rookie Mistakes That May Bench Your Home Sale
The decision to sell a home isn't one to face lightly. Going through with it means undertaking one of the most complex processes you'll ever undertake. Luckily, the help of a real estate expert simplifies things and makes it a lot less stressful. Still, researching the topic is always a good idea.
The more you know, the easier it'll be to make informed choices throughout the "game." Your real estate pro can offer you expert advice, but the final decision is always up to you.
Let's look at some of the most common "rookie mistakes" that can send your sale to the dugout:
- Rushing Your Agent Pick
Selecting an agent is one of the most...
28
Rising Mortgage Rates - What you should know
After steadily falling over the winter, mortgage rates have started to rise in recent weeks. This is concerning to some potential homebuyers as the combination of higher mortgage rates and higher prices have made homes less affordable. So, if you're planning to purchase a home this year, you too may be wondering if now's the right time to buy or if you should hold off on your search until rates come back down.
The recent uptick in rates has been driven by what's happening with inflation. Joel Kan, Vice President and Deputy Chief Economist at the Mortgage Bankers Association (MBA), explains:
"Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal...
18
The upcoming spring housing market could be a sweet spot for sellers
Summary
- The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy.
- The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we're still in a sellers' market.
- The housing market needs more homes for sale to meet the demand of today's buyers.
- If you've thought about selling, now's the time to connect with your local Montague Miller real estate professional!
5
Top 6 Home Design Trends To Watch in 2023
Over the past few years, many of us have spent extra time at home—and that means we appreciate the personal design touches that make a house cozy and comfortable more than ever. Some of us have adapted our dwellings in new ways, from creating functional home offices to upgrading the appliances we use most.
But while it's important to make your home your own, it's also smart to think about the long-term impact your renovations could have on its value. Choosing highly-personalized fixtures and finishes can make it harder for future homebuyers to envision themselves in the space. Even if you don't plan to sell your home soon, investing in popular design choices that are likely to stand the test of time will make things easier down the road.
And if you're in the market for a new home, it's wise to keep an...