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The Power of Pre-Approval

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If you’re buying a home this spring, today’s housing market can feel like a challenge. With so few homes on the market right now, plus higher mortgage rates, it’s essential to have a firm grasp on your homebuying budget. You’ll also need a sense of determination to find the right house and act quickly when you go to put in an offer. One [...]

We're in a Seller's Market. What Does that Mean?

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Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your [...]

What Buyer Activity Tells Us About the Housing Market

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Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below):

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger than usual, and a lot of that has to do with mortgage rates. Michael Lane, VP of Sales and Industry at ShowingTime+, explains:

“It’s typical to see a seasonal increase in home showings in January as buyers get ready for the spring market, but a larger increase than any January before after last year’s rapid cooldown is significant. Mortgage rate activity this spring will play a big role in sales activity, but January’s home showings are a positive sign that buyers are getting back out there . . .”

It's important to note that mortgage rates hovered in the low 6% range in January, which played a role in the high number of showings. What does this mean? When mortgage rates eased, buyer interest climbed. The jump in home showings early this year makes one thing clear – while rates may be volatile right now, there are interested buyers out there, and when mortgage rates are favorable, they’re ready to make their move. 

Written by KCM Crew on . Posted in For SellersMove-Up Buyers

What You Don't Want to do When You Start Looking at Houses

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What You Don’t Want to do When You Start Looking at Houses

So, you’re thinking about buying your first home? Congratulations!! You’ve worked hard to get here, and you should be proud of where you are today. Buying a home can seem like a daunting process — it just may be the most expensive and emotionally charged purchase of your life. But [...]

How to Make Your Home More Appealing to Buyers

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How to Make Your Home More Appealing to Buyers

 

Want to make your home more appealing to potential buyers? You want your house to stand out from other similar homes in the area. Not only do appealing houses sell quicker, they often sell for more money as well. Here are five ways to make your home stand out more to potential [...]

3 QUICK TIPS TO HELP PREPARE YOUR HOME FOR THE SPRING MARKET 

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Selling a home in the Spring is the best time, right? The mindset of most people who are selling a home, generally, feel that Spring is the best time. The issue becomes, everyone else who is thinking that. You now have substantially more competition with your listing. It’s true – Spring is ideal for anyone with children that are wanting [...]