Madison County Real Estate and Community News

March 13, 2024

What Mortgage Rate Do You Need To Move?

 

If you’ve been thinking about buying a home, mortgage rates are probably top of mind for you. They may even be why you’ve put your plans on hold for now. When rates climbed near 8% last year, some buyers found the numbers just didn’t make sense for their budget anymore. That may be the case for you too.

Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):

David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:

“Three quarters of buyers said ‘we’re out’ due to mortgage rates. Here’s what I know going forward. That will change in 2024.”

That’s because mortgage rates have come down off their peak last October. And while there’s still day-to-day volatility in rates, the longer-term projections show rates should continue to drop this year, as long as inflation gets under control. Experts even say we could see rates below 6% by the end of 2024. And that threshold would be a gamechanger for a lot of buyers. As a recent article from Realtor.com says:

Buying a home is still desired and sought after, but many people are looking for mortgage rates to come down in order to achieve it. Four out of 10 Americans looking to buy a home in the next 12 months would consider it possible if rates drop below 6%.”

While mortgage rates are nearly impossible to forecast, the optimism from the experts should give you insight into what’s ahead. If your plans were delayed, there’s light at the end of the tunnel again. That means it may be time to start thinking about your move. The best question you can ask yourself right now, is this:

What number do I want to see rates hit before I’m ready to move?

The exact percentage where you feel comfortable kicking off your search again is personal. Maybe it’s 6.5%. Maybe it’s 6.25%. Or maybe it’s once they drop below 6%.

Once you have that number in mind, here’s what you do. Connect with a local real estate professional. They’ll help you stay informed on what’s happening. And when rates hit your target, they’ll be the first to let you know. 

Bottom Line

If you’ve put your plans to move on hold because of where mortgage rates are, think about the number you want to see rates hit that would make you ready to re-enter the market.

 

Once you have that number in mind, let’s connect so you have someone on your side to let you know when we get there.

March 7, 2024

Why Access Is So Important When Selling Your House

If you’re gearing up to sell your house this spring, one of the early conversations you’ll have with your agent is about how much access you want to give buyers. And you may not realize just how important it is to make your house easy to tour.

Spring is the peak homebuying season, so opening up your house to as many showings as possible can really help you capitalize on all the extra buyer activity we see at this time of year.

Since buyer competition ramps up in the spring, buyers are going to want to move fast to see your house once they find your listing. And, if they see it and fall in love with it at a time they know they’re competing with other buyers, you may be more likely to get the offer you’re looking for on your home.

It’s understandable you want to keep the disruptions to your own schedule to a minimum, and you may be stressed about having to keep it clean, but it’s worth it. As an article from Investopedia explains:

If someone wants to view your house, you need to accommodate them, even if it inconveniences you. Clean and tidy the house before every single visit. A buyer won’t know or care if your house was clean last week. It’s a lot of work, but stay focused on the prize.”

To figure out what’s best for you, your agent will walk you through options like the ones below. This list breaks things down, starting with what’s most convenient for buyers and getting less buyer-focused as the list goes on:

  • Lockbox on the Door – A key is available via a lockbox, which makes it easy for agents to show the home to potential buyers. This gives the most flexibility because the key is on-site and convenient.
  • Providing a Key to the Home – An agent would have to stop by an office to pick up the key with this option. This is still pretty convenient for showings, but not quite as simple.
  • Open Access with a Phone Call – You allow a showing with just a phone call’s notice, which can be great for someone who sees your house while driving by.
  • By Appointment Only – This gives you a more advanced warning so you can get the house tidied up and be sure you have somewhere else you can go in the meantime. But it’s also a bit more restrictive.
  • Limited Access – You might go this route if you only want to have your house available on specific days or at certain times of day. But realize this is the most difficult and least flexible of the choices.

As an article from U.S. News Real Estate says:

“Buyers like to see homes on their schedule, which often means evenings and weekends. Plus, they want to be able to tour a home soon after they find it online, especially if they're competing with other buyers. If your home can be shown with little or no notice, more prospective buyers will see it. If you require 24 hours’ notice, they may choose to skip your home altogether.”

Your agent is going to help you find the right path forward based on your schedule and what’s working for other sellers in your area. And if you’ve got a hardline on granting buyers more access or have interested out of town buyers that just can’t be there in person, your agent will get creative and help you explore other options like video tours, virtual showings, and more.

Bottom Line

When it comes to selling your house, you want to be sure to get as much buyer activity as you can. Let’s connect to talk about which level of access helps make that possible.

Feb. 22, 2024

Ready to schedule a Buyers Consultation?

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🏡✨ Ready to schedule a Buyers Consultation? It’s a crucial first step in making the home-buying process seamless and smooth. 🤝 It gives us dedicated time to discuss all your needs and wants, helping us understand what’s truly important to you. Let’s chat and discover what makes the MARCUMsold Team a step above the rest! 🌟

Feb. 21, 2024

A Few of My Favorite Reads

📚 Excited to share my favorite reads! 🏡📘 In the world of real estate, these are absolute gems:
1. "Mindset Model and Marketing" by Tom Ferry 🚀
2. "The Miracle Morning For Real Estate Agents" by Hal Elrod ☀️
3. "Seven Levels of Communication" by Michael Maher 🗣️
Curious about the rest? 🤔🎥 Check out the video to discover my complete list! 🎬
Posted in News, Videos
Jan. 25, 2024

Do you think your Zillow home Zestimate is correct?

🏡 Did you know that Zillow's home Zestimate might not reflect the true value of your home? 🤔 Zillow pulls info from PVA, MLS, and user submissions. Your neighbor could boost the estimate by claiming their home's value is higher than it should be. 😱 The most accurate way? 🕵️‍♂️ Have a Realtor visit, analyze data, and give you the real scoop on your home's value! 📊💼
📞 Ready to know exactly what your home will sell for in 2024? Call me 859-353-4501 🏡 Let's discuss your property and get you the most accurate estimate. 📊💬
Posted in Real Estate News
Jan. 3, 2024

Unsure about pre-listing projects? I've got you covered!

🏡 Considering selling in 2024 but unsure about pre-listing projects? I've got you covered! Let's meet to discuss your needs. Whether it's a year or just around the corner, we'll create a plan together. 💪 With solid connections to contractors and handymen, we'll get those projects done. 🛠️ Don't let worries hold you back – give me a call and let's make selling your home a breeze! ☎️ 

Jan. 2, 2024

2024 MARCUMsold Events

 

Welcome!!! Find information about all of our upcoming MARCUMsold Events Here! 

 

Hello! 🐰🌷 Join us for a fantastic Easter Egg Hunt and photos with the Easter Bunny hosted by MARCUMsold Team! We are also thrilled to announce that there will be a bounce house and face painting at our event! 🐣📸 Bring your family for a fun-filled day. Don't miss out on the egg-citing activities! 

🥚🎉 Details:

📅 Date: Saturday, March 30th

🕒 Time: 2:00PM-3:00PM

📍 Location: 2629 Lexington Road, Richmond, KY 40475

We can't wait to celebrate this eggstra special occasion with you! 🎊🐇

** Please note that the event is weather-dependent. In case of bad weather, the Easter Egg Hunt and pictures with the Easter Bunny may be canceled. Stay tuned for updates on our social media channels or contact us for any weather-related announcements. We want to ensure everyone's safety and a delightful experience. 🌈🐰 

 

By Invitation Only 

 

Posted in News
Dec. 28, 2023

Moving Out Of Central, Kentucky? No Problem!

🏡 Moving out of the Central, Kentucky area? No problem! As part of the MARCUMsold Team, I'm here to make your transition seamless. I'll personally research and interview top-notch realtors for you, providing a curated list of the very best. Your journey to a new home starts with expert guidance. Let's make your move stress-free! 🚚✨ 

Dec. 27, 2023

Ready to Buy in 2024?

🏡 Thinking of making a move in 2024? 🤔 Uncertain about whether to sell first or buy first? Let’s connect! 🤝 The MARCUMsold Team is here to guide you through the process. Schedule a home visit 🏠, and let’s chat and strategize. 🗣️✨ Partnering with an experienced team makes all the difference! 🌟 Contact us to get started. 📲

Dec. 21, 2023

Top 3 Things to Look For When Buying a New Construction Home

🏡✨ Searching for a new home in Richmond, KY? Here's what to look for in new construction homes:

1️⃣ **Chic Trim/Crown on Kitchen Cabinets**

   Elevate your kitchen style with exquisite trim on top of cabinets. It's all about the details! 💫

2️⃣ **Stylish Cased Openings Throughout**

   Enjoy an open, connected vibe with charming cased openings. Seamless transitions for a modern feel! 🚪✨

3️⃣ **Double the Convenience – 2 Sinks in Primary Ensuite**

   Upgrade your morning routine with dual sinks. More space, less hassle! 🚿✨

Ready to make a move in 2023? The MARCUMsold Team has the expertise to find your perfect match! 🌟🏠