Madison County Real Estate and Community News

Nov. 29, 2022

Your House Could Be the #1 Item on a Homebuyer’s Wish List During the Holidays

 

Each year, homeowners planning to make a move are faced with a decision: sell their house during the holidays or wait. And others who have already listed their homes may think about removing their listings and waiting until the new year to go back on the market.

The truth is many buyers want to purchase a home for the holidays, and your house might be just what they’re looking for. Here are five great reasons you shouldn’t wait to sell your house.

1. While the supply of homes for sale has increased this year, there still aren’t enough homes on the market to keep up with buyer demand. As Nadia Evangelou, Senior Economist & Director of Forecasting at the National Association of Realtors (NAR), explains:

“There’s still this gap between demand and supply because we were underbuilding for many years. . . . So now we see demand is slowing, but it still outpaces supply.”

2. Serious homebuyers are out looking right now. Millennials are driving homebuying demand today, and many are eager to make a purchase. Mark Fleming, Chief Economist at First American, explains:

“While not the frenzy of 2021, the largest living generation, the Millennials, will continue to age into their prime home-buying years, creating a demographic tailwind for the housing market.”

3. The desire to own a home doesn’t stop during the holidays. In fact, homes decorated for the holidays appeal to many buyers. Plus, purchasers who look for homes during the holidays are ready to buy.

4. You can restrict the showings in your house to days and times that are most convenient for you. That can help you minimize disruptions, which is especially important this time of year.

5. Rents have skyrocketed in recent years. And, many buyers are looking to escape rising rents and avoid falling into the rental trap for another year. As an article from Zillow says:

“Over the next 12 months, rents are expected to grow more than inflation, the stock market and home values.”

Your home could be their ticket to leaving renting behind for good.

Bottom Line

There are still many reasons it makes sense to list your house during the holiday season. Let’s connect to determine if selling now is your best move.

Posted in Home Selling Tips
Nov. 9, 2022

What’s Ahead for Mortgage Rates and Home Prices?

Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.

Mortgage Rates Will Continue To Respond to Inflation

There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, it’s the first time they’ve risen this high in over 20 years (see graph below): 

In their latest quarterly report, Freddie Mac explains just how fast the climb in rates has been:

“Just one year ago, rates were under 3%. This means that while mortgage rates are not as high as they were in the 80’s, they have more than doubled in the past year. Mortgage rates have never doubled in a year before.

Because we’re in unprecedented territory, it’s hard to say with certainty where mortgage rates will go from here. Projecting the future of mortgage rates is far from an exact science, but experts do agree that, moving forward, mortgage rates will continue to respond to inflation. If inflation stays high, mortgage rates likely will too.

Home Price Changes Will Vary by Market

As buyer demand has eased this year in response to those higher mortgage rates, home prices have moderated in many markets too. In terms of the forecast for next year, expert projections are mixed. The general consensus is home price appreciation will vary by local market, with more significant changes happening in overheated areas. As Mark Fleming, Chief Economist at First American, says:

“House price appreciation has slowed in all 50 markets we track, but the deceleration is generally more dramatic in areas that experienced the strongest peak appreciation rates.

Basically, some areas may still see slight price growth while others may see slight price declines. It all depends on other factors at play in that local market, like the balance between supply and demand. This may be why experts are divided on their latest national forecasts (see graph below):

Bottom Line

If you want to know what’s happening with home prices or mortgage rates, let’s connect so you have the latest on what experts are saying and what that means for our area.

Posted in Buying a Home
Nov. 7, 2022

6 Ways We Protect Our Clients' Interests

When you're on your own buying or selling, you're missing out on some of the biggest perks of working with a real estate brokerage; agency. Our clients gain some big advantages over those trying to do so on their own. But how do we protect our clients' interests? Here are 6 Ways We Protect Our Clients' Interests.

 

Negotiating Terms. 

First, we're going to negotiate favourable terms on your behalf. We know how to haggle and we're not afraid to do it. Our number one priority is always getting the best possible outcome for our clients. 

 

You might be thinking, "I can negotiate my own terms. I'm a big boy or girl." But, unless you've had extensive training or experience in negotiation, and understand the countless details in a real estate transaction, it's unlikely you'll be able to match our skills. We've spent years, both learning theory, and gaining real experience in how to get you the best possible deal. And we'll be honest and fair with you no matter what. 

 

Maintaining Confidentiality. 

We understand that our client's circumstances aren't meant to be broadcast to the world, and especially not to other parties. Giving away certain details about your situation can empower the other parties, be it buyers or sellers, to gain a negotiation advantage over you. 

 

You can be confident that we will never reveal any information about you to anyone without your express desire and permission. 

 

Disclosing Key Info to You. 

Our job is to empower our clients with both more than sufficient information and skillful advice, because, ultimately, you will be making decisions on the actions we take. 

 

One thing we guarantee is to disclose any relevant knowledge we unearth about the situation of buyers if you're the seller, and sellers if you're the buyer. You will be able to discuss the info 

Acting On Your Behalf. 

Another important thing is that we’re here to act on your behalf. We know one of the best ways to protect our clients is by acting on their behalf in all deals, offers, negotiations, sales, and marketing. 

 

By entering into an agency relationship with us, you gain the power of a team who does the heavy lifting for you, while keeping you protected. This allows us to stay focused on achieving your goals while you focus on other important things in your life. 

 

Obeying Instructions 

If legal, we always obey our clients' wishes and instructions to the letter. You ultimately have the say in details like how much to list your home for, or how much to offer on a home, or when to accept or decline an offer. 

 

Our job is to provide you with expert advice and market knowledge, but ultimately the decisions are yours to make. We will always follow your wishes and instructions, provided they are legal and ethical. 

 

Performing Our Mandate

We also make sure that we fulfill our contractual mandate. This includes things like making sure the property is marketed properly, that all offers are brought to you in a timely fashion, and that the paperwork is completed correctly.

 

We understand that buying or selling a home is a big decision, and we take our role in the process very seriously.

Oct. 26, 2022

7 Things Every Seller Should Know in this Market

The real estate market has been red hot for more than a year, pushing prices up in most neighborhoods. The high prices come with pros and cons, though. While it feels like a great time to sell a house, more than 80% of young Americans (18 to 34 years old) say that now is the wrong time to buy.

You might wonder, "How can I sell my home when no one wants to buy in this real estate market?" That's a terrific question. Luckily, a little preparation can go a long way in making the process easier and helping you get as much as possible for your property.

1. The Real Estate Market Is Red Hot Right Now!

The real estate market is red hot right now because supply has not kept up with demand. To some extent, the short supply comes from the high price of construction materials. Developers don't want to build single-family homes when essential materials like lumber cost so much.

The problem might not be as recent as it seems, though. About 12.3 million households were formed in the U.S. between January 2012 and June 2021. During that same period, only 7 million homes were built. The short supply has finally caught up as young people plan to start families and purchase their first homes.

What's important for sellers to recognize is that the U.S. has about 5 million fewer houses than it needs to meet demand. That makes your residential real estate very valuable.

2. Expect to Spend a Lot of Time and Money on Home Improvements

Do you plan to invest in some home improvements before putting your house on the market? Make sure you set aside plenty of time and money.

Supply chain disruptions have forced contractors and construction companies to charge higher prices and work at slower paces. Many of them would love to get more work accomplished. Unfortunately, it's hard for them to source some of the materials they need to keep up with client requests.

Talk to contractors now so you can get realistic price and time estimates. If you don't already have a contractor, talk to your realtor to get recommendations. An experienced real estate professional will know which renovations companies are more likely to accommodate your preferred schedule.

3. Find a Moving Company That Follows Safe Procedures

A lot of cities and states are lifting COVID-19 restrictions. The virus still poses a threat, though. Make sure you choose a moving company that follows safety procedures and takes your health seriously. The movers will spend a lot of time in your home, so it makes sense to find a company that enforces safety precautions.

4. Interest Rates Will Likely Increase Soon

Many economists believe that the Federal Reserve will need to increase interest rates soon to combat inflation. It's an ongoing discussion, so nothing is certain. Just keep the possibility in mind. Turning down a good mortgage offer because you demand an excellent one could end up costing you more money.

5. Have a Plan for Potentially Paying Two Mortgages

"Can I sell my home at a high price?" Probably, but it might take a little time to get the price you deserve.

Higher real estate prices mean that you can get more money when you sell your home. The real estate market isn't quite as hot as it was last year, though, so don't expect your home to sell the same day you list it. That might happen, but it depends on several factors, including your location and price expectations.

The higher prices also mean that you will probably spend more on your next home. If your current property doesn't sell quickly, you might need to pay two mortgages for a few months.

You will likely make your money back when you sell your house. Still, you should plan for a short-term financial hardship.

6. Work With a Real Estate Agent to Find the Right New Home Quickly

Not everyone finds a new house before selling their current one. Other homeowners experience the opposite problem: the hot real estate market makes it easy for them to sell, but they need to find short-term housing while they search for a new house they love.

You can make some of your money back when you need to cover two mortgages for a few months. You don't get that benefit when you pay for short-term housing.

Work with a real estate agent so you can find a home you love as quickly as possible. You don't want to rush into a decision. Choosing a wonderful new home becomes a lot easier, though, when you have a knowledgeable realtor on your side.

7. Find the Real Estate Assistance You Need!

Are you ready — or at least thinking about — putting your house on the market? Get in contact so we can help you make informed choices that will help you get a great price for your home, find a wonderful new place to live, and avoid a lot of the headaches people associate with moving!

Posted in Home Selling Tips
Oct. 25, 2022

15 Questions You Should Ask Your Agent Before You Hire Them

1. Do you have testimonials from past clients that I can read?

After asking for recommendations and reading testimonials almost every day, we make decisions on purchases, and hiring a real estate agent is no different. An experienced and well-respected agent should have several testimonials from past buyers and sellers that they’ve helped over their career, ready for you to read.

2. How will you determine my home’s value?

Having an accurate picture of your home’s value and a strong pricing strategy from the start will help ensure that your home sells quickly and for top dollar. If you or your agent are relying on online home valuation tools, unfortunately, that’s not the full picture, and we’d encourage you to dig deeper.

There are hundreds of factors that we take into consideration when estimating your home's value, and no two reports are the same. We first take a look at your address. This allows us to see how much neighboring homes have sold for, the desirability of the neighborhood you live in, the unique features of your home and the surrounding geographical area, and many more factors. After we have a good idea of what that looks like, we then go more in-depth with our research, including checking your home's condition, considering any updates you've made that could make it worth more than your neighbor's. All of this is done by a human being. None of our home value reports run on an algorithm, and this information isn't available to us or you at the push of a button.

3. What would be a good offer for my home in this market?

Understanding the market and being up to date on the latest stats and trends is part of a real estate agent's job. Your home very well may sell for a different price today than it would have a year ago and that it may sell for a year from now. We stay up to date on the market and regularly share those updates with our audience.

4. Have you sold any homes in my neighborhood before?

Most real estate agents have their bread and butter neighborhoods that they specialize in, so understanding, if they are truly the experts in the neighborhood that your home is in, is an important part of finding your agent.

5. What do you predict will happen with the market in the next 6 months?

Foresight and analysis is an important part of advising clients, and in a market that’s changing rapidly, it’s more important than ever. If you want to talk about our predictions and where we see the market going, let’s talk!

6. Will you help me with staging?

Staging is an important part of presenting your home to buyers and ultimately selling it. Having an agent that can consult on staging or even offer full staging services can help ensure that you’re getting top dollar for your home. 

Looking for staging tips? Click here.

7. Are you going to have professional photos or a video done?

As detailed in a VHT Studios article, homes with professional photography sell for 32 percent faster. In today’s online-first world, the need to showcase a home virtually has never been greater. From professional photos, a video, a virtual tour, and 3D Matterport imaging, the opportunity to build a vision for your home online is not one that we’ll miss.

8. How will you market my home?

Marketing is a virtual part of selling and something that every real estate agent should be able to leverage for your listing. From the staging, collecting the assets such as photos and virtual tours, putting your home on the MLS, promoting it on social, and letting their potential buyers know about your home, your agent should have a plan for each of those steps.

Take a look at our marketing plan and see it in action here.

9. What will you suggest we do if my house starts to sit on the market?

While every seller has that lingering fear that their home will sit on the market for longer than was expected, your real estate agent’s job is to do everything they can not to make that fear a reality. If it does, in fact, happen, though, your real estate agent should have a plan for that too.

10. Can you explain the home selling process from start to finish?

One of the most common questions that we get from potential sellers is to explain the process from start to finish. It’s a complex process that involves a lot of steps, emotions, money, and more. Your real estate agent becomes your trusted advisor throughout the process of selling your home, and that’s an important job! 

We aim to educate our audience about the market and the process, so if you’re looking for answers to your questions, check out our blog. 

11. What projects, if any, should I work on before we list?

This is a great question! When selling your home, there are several things that you may be able to do that will allow potential buyers to visualize themselves in your home more easily. Your agent will be able to take a look at your house (virtually or in-person) and give you a list of items that you’ll be able to work on before you list.

12. How long would you say it will take to sell my home?

While there’s no certain answer to this question because of all the variables at play, we can use the current average days a home stays on the market and other current market trends to understand how long your home makes take to sell.

13. Can you also help me find a home to buy?

We’re sure you’re experiencing the lack of inventory in today’s market while searching for a new home, and that may be holding you back from selling your home now. We want you to know that we’re here to help. Your real estate agent has access to all of the homes in the MLS and even some off-market properties. They should connect with their network and offer advice on other options you may have if you end up being in-between homes.

14. Will we be able to host open houses?

An open house is traditionally a great way to let potential buyers know about your home and let them really get a sense of the layout and feel. Today, open houses are different but still possible, even if they’re done virtually - your agent will be able to guide you through this process.

15. How does your commission work?

Understanding your agent’s commission and what services they’ll provide you throughout the process is an important piece of selecting the agent you want to work with. Your agent should be providing quality, expert service throughout the entire process - because it is a process that requires expertise. If you have questions about commission, please reach out to us.

Posted in Real Estate News
Oct. 25, 2022

Richmond Area Weekender Guide, October

Richmond Area Weekender Guide

Here are some of the MARCUMsold Team's favorite things to do in-and-around Richmond, KY!

What: EKU Homecoming 2022

Where: Eastern Kentucky University

When: Oct 21 at 12 AM – Oct 22 at 11:59 PM

Details: EKU Homecoming is October 21-22! We are excited to offer a full calendar of in person, signature events throughout the week, as well as other events hosted by different departments and areas of campus.

Join us, both in person and virtually, as we gather for food, fun, laughter, and shared memories celebrating the Campus Beautiful and the Eastern family! Visit homecoming.eku.edu for a list of all our events.

What: EKU HOCO Block Party ft. The Family Dog

Where: The Family Dog

When: Friday, October 21, 2022 from 7 PM – 10 PM

Details: Celebrate EKU Homecoming like it was meant to be celebrated by joining us for the first ever EKU HOCO Block Party featuring The Family Dog. You'll be "walking on Water Street" to live music and enjoying a cold beverage and delicious food from one of our many vendors. Oh, and did we mention The Family Dog?

It's been 22 years since The Family Dog closed its doors to the public...until now.

For one night only we will be opening up the iconic Richmond establishment for tours and pictures! Relive your memories (or lack thereof) from the 70's, 80's, and 90's with fellow Colonels and members of the bar's staff from all those years ago. This is a Homecoming affair that you won't want to miss!

Visit homecoming.eku.edu/BlockParty for more information.

What: Halloween Hoedown

Where: Downtown, 104 S Third Street, Richmond

When: Thursday, Oct 27th, 6PM-8PM

Details: Our annual Halloween Hoedown is happening in Downtown Richmond on Thursday, October 27th from 6:00 pm to 8:00 pm! We will have games, community vendors, candy, music, inflatables, a petting zoo, snack vendors and other activities!

We are currently looking for Community Vendors to set up booths at this event! Applications can be found at Richmond.ky.us/parks.

For questions, call (859) 623 - 8753 or email parksandrec@richmond.ky.us.

What: Mall-ster Mash (Trick or Treat Party)

Where: The Shoppes at Richmond Mall 

When: Saturday, October 29, 2022 from 6 PM – 8 PM

Details: The Shoppes at Richmond Mall and Vineyard Church are hosting a community Trick or Treat Mall-ster Mash.

Put your costumes on, grab your pillowcase and visit The Shoppes at Richmond Mall for music, activities and treats!

* To find the current calendar of events hosted by the Madison County Public Library  CLICK HERE

Posted in Community News
Oct. 5, 2022

Richmond Area Weekender Guide, September & October

Richmond Area Weekender Guide

Here are some of the MARCUMsold Team's favorite things to do in-and-around Richmond, KY!

What: Movies In The Park

Where: Irvine-McDowell Park,  Richmond

When: Sept 2nd, Sept 23rd & Sept 30th

Details: Join us for a FREE Movie in the Park! We will be showing "Encanto" at dusk! Food Trucks such as Comete Alguito, Poppy's Ice Cream and Cotton & Cone will all be on site!

What: The 2nd Annual Millstone Festival

Where: Downtown Richmond

When: Saturday, October 1, 2022 from 11 AM – 10 PM

Details: The City of Richmond and Dreaming Creek Brewery proudly presents the 2nd Annual Millstone Festival on Saturday, October 1st from 11AM to 10PM in Downtown Richmond!

The event will feature lots of fun activities for all ages. There will be community booths and craft vendors, food and beverage vendors, a beer and wine garden, a kid's area, a petting zoo, and the Medlock Car Cruise. There will also be live music performances by Rags and Riches, Scott T. Smith, Vintage Voodoo and Grayson Jenkins!

Dreaming Creek Brewery will also host a Homebrew Contest. For more information on this contest, please call (859) 575 - 7111.

Follow our Social Media or visit our Website at www.richmond.ky.us/parks to stay updated on all things Millstone Festival!

You can also contact the Richmond Parks and Recreation Department at (859) 623 - 8753 or parksandrec@richmond.ky.us for more information!

What: 1st Annual #MARCUMsold Nurture Nature Day

Where: White Hall State Historic Site

When: Saturday, October 8th 2022 from 10AM – 12PM

Details: Come help us replenish our community by planting trees. Because the real estate industry is such a paper intensive business, we want to do our part by replacing a small portion of trees we waste. Will have donated and will be planting 193 trees ! We need your help.... come in comfy clothes and bring a shovel. Let's dig in and help give back to the earth!!

What: EKU Homecoming 2022

Where: Eastern Kentucky University

When: Oct 21 at 12 AM – Oct 22 at 11:59 PM

Details: EKU Homecoming is October 21-22! We are excited to offer a full calendar of in person, signature events throughout the week, as well as other events hosted by different departments and areas of campus.

Join us, both in person and virtually, as we gather for food, fun, laughter, and shared memories celebrating the Campus Beautiful and the Eastern family! Visit homecoming.eku.edu for a list of all our events.

What: Halloween Hoedown

Where: Downtown, 104 S Third Street, Richmond

When: Thursday, Oct 27th, 6PM-8PM

Details: Our annual Halloween Hoedown is happening in Downtown Richmond on Thursday, October 27th from 6:00 pm to 8:00 pm! We will have games, community vendors, candy, music, inflatables, a petting zoo, snack vendors and other activities!

We are currently looking for Community Vendors to set up booths at this event! Applications can be found at Richmond.ky.us/parks.

For questions, call (859) 623 - 8753 or email parksandrec@richmond.ky.us.

What: Mall-ster Mash (Trick or Treat Party)

Where: The Shoppes at Richmond Mall 

When: Saturday, October 29, 2022 from 6 PM – 8 PM

Details: The Shoppes at Richmond Mall and Vineyard Church are hosting a community Trick or Treat Mall-ster Mash.

Put your costumes on, grab your pillowcase and visit The Shoppes at Richmond Mall for music, activities and treats!

* To find the current calendar of events hosted by the Madison County Public Library  CLICK HERE

Posted in Community News
Oct. 4, 2022

Will I Be Able to Afford More House Next Year Than I Can Right Now?

When should you buy a home in the current market? There's no doubt this market is confusing, with one expert recommending selling now to get peak value for a home and others saying to wait for the market to correct. If you're buying, your perspective is much different. You want to save money but still have your pick of lots of property for sale. Confused? That's because this is a challenging market with many things to think about before you buy, especially home affordability.

When you work with your agent to break down how home affordability applies in your specific desired neighborhood and region, you'll have a better idea of the best move for you. These factors will help contribute to that decision.

The Pandemic Housing Boom Is Correcting

Beyond all other factors, when you consider home affordability, you have to focus on the changes brought by the pandemic. Suddenly, people were buying homes quickly, and due to the limited number of homes listed for sale on the market, the laws of supply and demand took over. That led to rapidly increasing home prices. The double-digit home price growth of the last few years isn't something the market can sustain. If you're tired of being outbid for a home you love, that could soon be a thing of the past. All of this demand led to an increased number of homes being built, a run on steel and lumber, and refrigerators becoming hard to find.

The Federal Reserve took the reins in reeling in that excessive cost and rapid growth. To do that, they boosted the key lending rate, which is likely to lead to an increase in mortgage rates for some time. As frustrating as that may sound, as a home buyer who likely needs to buy a home with a loan, there are some key benefits to it.

What Will Home Affordability Look Like in 2023?

If all goes to plan, the increase in interest rates could curb inflation quickly, and a result of that could include some improvements in overall home affordability for those who are looking to buy a home. There’s no way to know what could happen, but here’s what many expect:

Interest rates: If you wait until 2023, interest rates on most mortgage loans will likely be higher. That means you may spend more to buy the home when it comes to the loan costs. That doesn’t mean those prices are going to be significantly higher, but it could mean a few percentage points.

Home inventory: While there’s no way to say you’ll never be outbid again, the chances are lower in the next year as inventory becomes more predictable in most areas. With more inventory available, there are also fewer reasons that home values will skyrocket in those bidding wars. Higher inventory leads to better access to buying what you want.

Home prices: It’s unlikely there will be a significant housing value drop in the coming year, but home values may stop growing as quickly. There is some evidence of currently listed homes seeing price reductions right now, which could mean lower prices in some areas.

Will You Be Able to Afford More House Next Year, Though?

There’s no crystal ball to tell us the future of what’s to come. If you can afford to buy a home today that fits your needs and is within your budget, buy now. You may be better off buying now instead of waiting for the unpredictable real estate market of 2023.

More so, inflation is a factor. Though it is unlikely that you will find home prices rising due to inflation, you are likely to find it a bigger pinch on your budget.

With mortgage rates on the rise, there’s no doubt that buying now if you qualify for a lower interest rate is the better option overall. It will save you money to secure even an interest rate that's even a fraction lower this year than next year. For example, the monthly payment on a 30-year fixed rate loan at 2.99% could be $1,073, while it’s $1,184 on a 3.99% loan.

If you can afford to buy a home now and have the financing to do so, there's no real benefit to buying next year. Prices aren't likely to be much lower, though inventory may be a bit better. If you're able to find your dream home, it may be time to make your move now instead of waiting.

Posted in Buying a Home
Oct. 3, 2022

Buyers Are Regaining Some of Their Negotiation Power in Today’s Housing Market

If you’re thinking about buying a home today, there’s welcome news. Even though it’s still a sellers’ market, it’s a more moderate sellers’ market than last year. And the days of feeling like you may need to waive contingencies or pay drastically over asking price to get your offer considered may be coming to a close.

Today, you should have less competition and more negotiating power as a buyer. That’s because the intensity of buyer demand and bidding wars is easing this year. So, if bidding wars were the biggest factor that had you sitting on the sidelines, here are two trends that may be just what you need to re-enter the market.

1. The Return of Contingencies

Over the last two years, more buyers were willing to skip important steps in the homebuying process, like the appraisal or inspection, to try to win a bidding war. But now, fewer people are waiving the inspection and appraisal.

The latest data from the National Association of Realtors (NAR) shows the percentage of buyers waiving their home inspection and appraisal is declining. And a recent survey from realtor.com confirms more sellers are accepting offers that include these conditions today. According to their August study:

95% of sellers reported buyers requested a home inspection

67% of sellers negotiated with buyers on repairs as a result of the inspection findings

This goes to show buyers are more able to include these conditions in their offers today and negotiate as needed based on the outcome of the inspection.

2. Sellers Are More Willing To Help with Closing Costs

Generally, closing costs range between 2% and 5% of the purchase price for the home. Before the pandemic, it was a common negotiation tactic for sellers to cover some of the buyer’s closing costs to sweeten the deal. This didn’t happen as much during the peak buyer frenzy over the past two years.

Today, as the market shifts and demand slows, data from realtor.com suggests this is making a comeback. A recent article shows 32% of sellers paid some or all of their buyer’s closing costs. This may be a negotiation tool you’ll see as you go to purchase a home. Just keep in mind, limits on closing cost credits are set by your lender and can vary by state and loan type. Work closely with your loan advisor to understand how much a seller can contribute to closing costs in your area.

Bottom Line

Regardless of the extremely competitive housing market of the past several years, today’s data suggests negotiations are starting to come back on the table. This is good news if you’re planning to enter the housing market. To find out how the market is shifting in our area, let’s connect.

Posted in Buying a Home
Sept. 8, 2022

What a $1M Home Looks Like In All 32 Pro Football Cities

Football season is upon us and to kick off the fall, we're sharing what a $1 million dollar listing looks like in each of the 32 pro football cities. From Green Bay to L.A (and everywhere between), there are some spectacular homes close to each stadium!

 

📍 Glendale, Arizona

Listed at $1,000,000

Take a Look

 

📍 Atlanta, Georgia

Listed at $1,195,000

Take a Look

 

📍 Charlotte, North Carolina

Listed at $1,179,000

Take a Look

 

📍 Chicago, Illinois

Listed at $1,069,000

Take a Look

 

📍 Arlington, Texas

Listed at $1,100,001

Take a Look

 

📍 Detroit, Michigan

Listed at $1,200,000

Take a Look

 

📍 Green Bay, Wisconsin

Listed at $1,140,000

Take a Look

 

📍 Inglewood, California

Listed at $1,099,000

Take a Look

 

📍 Minneapolis, Minnesota

Listed at $1,050,000

Take a Look

 

📍 New Orleans, Louisiana

Listed at $1,025,000

Take a Look

 

📍 East Rutherford, New Jersey

Listed at $999.990

Take a Look

 

📍 Philadelphia, Pennsylvania

Listed at $1,095,000

Take a Look

 

📍 Santa Clara, California

Listed at $1,098,000

Take a Look

 

📍 Seattle, Washington

Listed at $1,050,000

Take a Look

 

📍 Tampa Bay, Florida

Listed at $1,095,000

Take a Look

 

📍 Landover, Maryland

Listed at $950,000

Take a Look

 

📍 Baltimore, Maryland

Listed at $1,195,000

Take a Look

 

📍 Orchard Park, New York

Listed at $1,075,000

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📍 Cincinnati, Ohio

Listed at $1,100,000

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📍 Cleveland, Ohio

Listed at $1,134,000

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📍 Denver, Colorado

Listed at $1,000,000

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📍 Houston, Texas

Listed at $1,100,000

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📍 Indianapolis, Indiana 

Listed at $1,050,000

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📍 Jacksonville, Florida

Listed at $1,200,000

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📍 Kansas City, Missouri

Listed at $1,085,000

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📍 Paradise, Nevada

Listed at $1,184,000

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📍 Inglewood, California

Listed at $1,099,000

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📍 Miami Gardens, Florida

Listed at $1,050,000

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📍 Foxborough, Massachusetts

Listed at $979,995

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📍 East Rutherford, New Jersey

Listed at $1,300,000

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📍 Pittsburgh, Pennsylvania

Listed at $1,175,000

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📍 Nashville, Tennessee

Listed at $1,099,000

Take a Look

Posted in Buying a Home