The Down Payment Assistance You Didn’t Know About

Believe it or not, almost 80% of first-time homebuyers qualify for down payment assistance, but only 13% actually use it. 


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Is Your House Priced Too High?

Every seller wants to get their house sold quickly, for as much money as they can, with as few headaches as possible.


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Lower Mortgage Rates Boost Your Buying Power

Mortgage rates are trending down and that’s great news for your bottom line.


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Falling Mortgage Rates Are Bringing Buyers Back

If you’ve been hesitant to list your house because you’re worried no one’s buying, here’s your sign it may be time to talk with an agent.


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The Latest Builder Trend: Smaller, Less Expensive Homes

Even though affordability is improving, buying a home can still feel tough right now.


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Mortgage Rates Drop to Lowest Level in over a Year and a Half

Mortgage rates have hit their lowest point in over a year and a half.


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The Best Time To Buy a Home This Year

A shift is underway in the housing market this season.


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Checklist for Getting Your House Ready To Sell

Getting your house ready to sell? Here are a few tips on what you may want to do to prepare.


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What To Know About Closing Costs

Now that you’ve decided to buy a home and are ready to make it happen, it’s a good idea to plan ahead for the costs that are a typical part of the homebuying process.


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The Real Story Behind What’s Happening with Home Prices

If you’re wondering what’s going on with home prices lately, you’re definitely not the only one.


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Why Pre-Approval Should Be at the Top of Your Homebuying To-Do List

Since the supply of homes for sale is growing and mortgage rates are coming down, you may be thinking it’s finally your moment to jump into the market.


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The Surprising Amount of Home Equity You’ve Gained over the Years

There are a number of reasons you may be thinking about selling your house.


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Early Forecasts for the 2025 Housing Market Infographic

Thinking about making a move in 2025 and wondering what you can expect? Here’s what expert forecasts say lies ahead.


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The Latest on the Luxury Home Market

Luxury living is about more than just stunning views and cutting-edge smart home technology—it's about elevating your lifestyle.


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How the Federal Reserve’s Next Move Could Impact the Housing Market

Now that it’s September, all eyes are on the Federal Reserve (the Fed).


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Should You Sell Now? The Lifestyle Factors That Could Tip the Scale

Are you on the fence about whether to sell your house now or hold off?


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Could a 55+ Community Be Right for You?

If you’re thinking about downsizing, you may be hearing about 55+ communities and wondering if they’d be a good fit for you.


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How To Avoid Today's Top Seller Mistakes

Want to know some of the top mistakes sellers are making today and how to make sure they don’t happen to you too?


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Are We Heading into a Balanced Market?

If you’ve been keeping an eye on the housing market over the past couple of years, you know sellers have had the upper hand.


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2025 Housing Market Forecasts: What To Expect

Looking ahead to 2025, it's important to know what experts are projecting for the housing market.


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What's the Impact of Presidential Elections on the Housing Market?

It’s no surprise that the upcoming Presidential election might have you speculating about what’s ahead.


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What Mortgage Rate Are You Waiting For?

You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years.


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How Growing Inventory Benefits Today's Buyers

While the number of homes for sale varies by local area, nationally we’re up over 36% year-over-year, but still down almost 29% compared to what’s normal.


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Today’s Biggest Housing Market Myths

Have you ever heard the phrase: don’t believe everything you hear?


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The Number One Mistake Sellers Are Making: Overpricing Their House

In today's housing market, many sellers are making a critical mistake: overpricing their houses.


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How To Choose a Great Local Real Estate Agent

Selecting the right real estate agent can make a world of difference when buying or selling a home.


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How Mortgage Rate Changes Impact Your Homebuying Power

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind.


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3 Reasons To Move in Today’s Shifting Market

The housing market is in a transition. And that gives you 3 key opportunities going into the fall.


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What Credit Score Do You Really Need To Buy a House?

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle.


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The Great Wealth Transfer: A New Era of Opportunity

In recent years, there’s been a significant shift in how wealth is distributed among generations.


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Is Affordability Starting To Improve?

Over the past couple of years, a lot of people have had a hard time buying a home.


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Are There More Homes for Sale Where You Live?

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.


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Home Inspections For Sellers: How To Prepare

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.


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Where Will You Go After You Sell?

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available.


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Mortgage Rates Down a Full Percent from Recent High

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability.


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Helpful Negotiation Tactics for Today’s Housing Market

If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.


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What Every Homeowner Should Know About Their Equity

Curious about selling your home?


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3 Reasons Why We’re Not Headed for a Housing Crash

Back in 2008, there was an oversupply of homes for sale.


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Why the Sandwich Generation Is Buying Multi-Generational Homes

Are you a part of the Sandwich Generation?


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Should You Rent Out or Sell Your House? Figuring out what to do with your house when you're ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth? It's a question many homeowners face, and the answer isn't always straightforward. Whether you're curious about the potential income from renting or worried about the responsibilities of being a landlord, there’s a lot to consider. Let’s walk through some key questions to ask to help you make the best decision for your situation. Is Your House a Good Fit for Renting? Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving far away, so keeping up with the ongoing maintenance would be a hassle, the neighborhood isn't great for rentals, or the house needs significant repairs before you could rent it out. If any of this sounds like it might apply, selling might be your best option. Are You Ready for the Realities of Being a Landlord? Managing a rental property isn't just about collecting rent checks. It's a time-consuming and sometimes challenging job. For example, you may get calls from tenants at all hours of the day with maintenance requests. Or you may find a tenant causes damage you have to repair before the next lease starts. You may even have to deal with people falling behind on payments or breaking their lease early. Investopedia highlights: "It isn’t difficult to find horror stories of landlords troubled with more headaches than profits. Before deciding to rent, consider talking to other landlords and doing a detailed cost analysis. You might find that selling your home is a better financial decision and less stressful.” Do You Have a Good Understanding of What It’ll Cost? If you're thinking about renting out your home primarily to generate extra income, remember that there are additional costs you’ll want to plan for. As an article from Bankrate explains: Mortgage and Property Taxes: You still need to pay these expenses, even if the rent doesn't cover all of it. Insurance: Landlord insurance costs about 25% more than regular home insurance, and it's necessary to cover damages and injuries. Maintenance and Repairs: Plan to spend at least 1% of the home's value annually, more if the home is older. Finding a Tenant: This involves advertising costs and potentially paying for background checks. Vacancies: If the property sits empty between tenants, you'll lose rental income. Management and HOA Fees: A property manager can ease the burden, but typically charges about 10% of the rent. HOA fees are an additional cost too, if applicable. Bottom Line To sum it all up, selling or renting out your home is a personal decision that depends on your circumstances. Whatever you decide, taking the time to evaluate your options will help you make the best choice for your future. Make sure to weigh the pros and cons carefully and consult with professionals so you feel supported and informed as you make your decision. That’s what we’re here for.

Should You Rent Out or Sell Your House?

Figuring out what to do with your house when you're ready to move can be a big decision.


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The Biggest Mistakes Sellers Are Making Right Now The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity at the same time the supply of homes for sale is growing. And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them when you sell. 1. Overpricing Your House Many sellers set their asking price too high and that’s why there’s an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market longer. An article from the National Association of Realtors (NAR) explains: “Some sellers are pricing their homes higher than ever just because they can, but this may drive away serious buyers and result in unapproved appraisals . . .” To avoid falling into this trap, partner with a pro. An agent uses recent sales of similar homes, the condition of your house, local market trends, and so much more to find the price that’ll attract more buyers and open the door for multiple offers and a faster sale. 2. Skipping the Small Stuff You may try to skip important repairs, thinking you can pass the task on to your buyer. But visible issues (even if they’re small) can turn off potential buyers and result in lower offers or demands for concessions. As Money Talks News says: “Home shoppers like to turn on lights, flush toilets and run the water. If these basic things don’t work, they may assume you’ve skipped other maintenance. Homes that appear neglected aren’t likely to fetch top price.” If you want to get your house ready to sell, the best place to turn to for advice is your agent. They’ll be able to do a walk-through with you and point out anything you’ll need to tackle before the photographer comes in. 3. Not Looking at Things Objectively Buyers today are feeling the pinch of high home prices and mortgage rates. With affordability that tight, they may come in with an offer that’s lower than you’d want to see – especially if you didn’t stage, price, or market the house well. It’s important you don’t take this personally. Getting overly emotional can put the sale at risk. As an article from Ramsey Solutions says: “Remember, a buyer’s offer is not a reflection of their opinion of your home or your housekeeping abilities. . . The sale of your home is strictly a business transaction. If they start out with a low offer, don’t take it personally and get emotional. Instead, channel that energy toward negotiating. Work with your agent and make a counteroffer.” 4. Being Unwilling To Negotiate The supply of homes for sale has grown. That means buyers have more options, and with that comes more negotiation power. As a seller, you may see more buyers getting an inspection, requesting repairs, or asking for help with closing costs today. You need to be prepared to have those conversations. As U.S. News Real Estate explains: “If you've received an offer for your house that isn't quite what you'd hoped it would be, expect to negotiate . . . the only way to come to a successful deal is to make sure the buyer also feels like he or she benefits . . . consider offering to cover some of the buyer's closing costs or agree to a credit for a minor repair the inspector found.” An agent will walk you through what levers you may want to pull based on your own goals, budget, and timeframe. 5. Not Using a Real Estate Agent Notice anything? For each of these mistakes, partnering with an agent helps prevent them from happening in the first place. That makes trying to sell your house without an agent’s help the biggest mistake of all. Real estate agents have experience and expertise in pricing, marketing, negotiating, and more. That knowledge streamlines the selling process and usually results in drumming up more interest and ultimately can get you a higher final price. Bottom Line If you want to avoid making mistakes like these, let’s connect to make sure you’re set up for success.

#rodeorealty #losangeles #encinotes #homebuyer #homeseller

The Biggest Mistakes Sellers Are Making Right Now

The housing market is going through a transition.


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Are Home Prices Going To Come Down? Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening. Some say home prices are heading for a correction, but what do the facts say? Well, it helps to start by looking at what a correction means. Here’s what Danielle Hale, Chief Economist at Realtor.com, says: “In stock market terms, a correction is generally referred to as a 10 to 20% drop in prices . . . We don't have the same established definitions in the housing market.” In the context of today’s housing market, it doesn’t mean home prices are going to fall dramatically. It only means prices, which have been increasing rapidly over the last couple years, are normalizing a bit. In other words, they’re now growing at a slower pace. Prices vary a lot by local market, but rest assured, a big drop off isn’t what’s happening at a national level. The Real Estate Market Is Normalizing From 2020 to 2022, home prices skyrocketed. That rapid increase was due to high demand, low interest rates, and a shortage of homes for sale. But, that kind of aggressive growth couldn’t continue forever. Today, price growth has started to slow down, which is a sign the market is beginning to normalize. The most recent data from Case-Shiller shows that after being basically flat for a couple of months last year, prices are going up at a national level – just not as quickly as before (see graph below): No Caption ReceivedThe big takeaway? So far this year, there’s been a much healthier pace of price growth compared to the pandemic. Of course, that’s what’s happening now, but you may be wondering what’s next for prices. Marco Santarelli, the Founder of Norada Real Estate Investments, says: “Expert forecasts lean towards a moderation in home price growth over the next five years. This translates to a slower and more sustainable pace of appreciation compared to the breakneck speed witnessed in recent years, rather than a freefall in prices.” It’s all about supply and demand. Increasing inventory plus limited buyer demand, due to relatively high mortgage rates, will continue to ease some of the upward pressure on prices. What This Means for You If you’re thinking about buying a home, slowing price growth is welcome news. Skyrocketing home prices during the pandemic left many would-be homebuyers feeling priced-out. While it’s still a good thing to know the value of the home you buy will likely continue to go up once you own it, slowing price gains are making things feel more manageable. Odeta Kushi, Deputy Chief Economist at First American, says: “While housing affordability is low for potential first-time home buyers, slowing price appreciation and lower mortgage rates could help — so the dream of homeownership isn't boarded up just yet.” Bottom Line At the national level, home prices are not going down. And most experts forecast they’ll continue growing moderately moving forward. But prices vary a lot by local market. That’s where a trusted real estate agent comes into play. If you have questions about what’s happening with prices in our area, reach out.

#rodeorealty #encinotes #losangeles #homeprices #interestrates

Are Home Prices Going To Come Down?

Today’s headlines and news stories about home prices are confusing and make it tough to know what’s really happening.


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Unlocking the Benefits of Your Home's Equity

Equity is the difference between what your house is worth and what you still owe on your mortgage.


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How the Economy Impacts Mortgage Rates As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate. The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The Fed meets next week, and three of the most important metrics they’ll look at as they make their decision are: The Rate of Inflation How Many Jobs the Economy Is Adding The Unemployment Rate Here’s the latest data on all three. 1. The Rate of Inflation You’ve probably heard a lot about inflation over the past year or two – and you’ve likely felt it whenever you’ve gone to buy just about anything. That’s because high inflation means prices have been going up quickly. The Fed has stated its goal is to get the rate of inflation back down to 2%. Right now, it’s still higher than that, but moving in the right direction (see graph below): 2. How Many Jobs the Economy Is Adding The Fed is also watching how many new jobs are created each month. They want to see job growth slow down consistently before taking any action on the Federal Funds Rate. If fewer jobs are created, it means the economy is still strong but cooling a bit – which is their goal. That appears to be exactly what’s happening now. Inman says: “. . . the Bureau of Labor Statistics reported that employers added fewer jobs in April and May than previously thought and that hiring by private companies was sluggish in June.” So, while employers are still adding jobs, they’re not adding as many as before. That’s an indicator the economy is slowing down after being overheated for quite some time. This is an encouraging trend for the Fed to see. 3. The Unemployment Rate The unemployment rate is the percentage of people who want to work but can’t find jobs. So, a low rate means a lot of Americans are employed. That’s a good thing for many people. But it can also lead to higher inflation because more people working means more spending – which drives up prices. Right now, the unemployment rate is low, but it’s been rising slowly over the past few months (see graph below): No Caption ReceivedIt may seem harsh, but a consistently rising unemployment rate is something the Fed needs to see before deciding to cut the Federal Funds Rate. That’s because a higher unemployment rate would mean reduced spending, and that would help get inflation back under control. What Does This Mean Moving Forward? While mortgage rates are going to continue to be volatile in the days and months ahead, these are signs the economy is headed in the direction the Fed wants to see. But even with that, it’s unlikely they'll cut the Federal Funds Rate when they meet next week. Jerome Powell, Chair of the Federal Reserve, recently said: “We want to be more confident that inflation is moving sustainably down toward 2% before we start the process of reducing or loosening policy.” Basically, we’re seeing the first signs now, but they need more data and more time to feel confident that this is a consistent trend. Assuming that direction continues, according to the CME FedWatch Tool, experts say there’s a projected 96.1% chance the Fed will lower the Federal Funds Rate at their September meeting. Remember, the Fed doesn’t directly set mortgage rates. It’s just that whenever they decide to cut the Federal Funds Rate, mortgage rates should respond. Of course, the timing of when the Fed takes action could change because of new economic reports, world events, and other factors. That’s why it's usually not a good idea to try to time the market. Bottom Line Recent economic data may signal that hope is on the horizon for mortgage rates. Let’s connect so you have an expert to keep you up to date on the latest trends and what they mean for you.

#rodeorealty #losangeles #encinotes #economy #interestrates

How the Economy Impacts Mortgage Rates

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what's ahead.


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A Newly Built Home May Actually Be More Budget-Friendly If you’re in the market to buy a home, there’s some exciting news for you. Many people assume that newly built homes are more expensive than existing ones (houses that have already been lived in), but that’s not always the case. In fact, exploring newly built homes can sometimes lead to more cost-effective options, especially today. Hard to believe, right? But the data doesn’t lie. Here are two key reasons working with your agent to look into new home construction could help you find a more budget-friendly option. Reason 1: Lower Median Prices for Newly Built Homes The median sales price for newly built homes is lower than the median sales price for existing homes today. This might seem surprising, but it’s true according to the latest data from the Census and the National Association of Realtors (NAR):No Caption Received Why is that? Builders are focused on building what they can sell. And right now, there’s a very real need for smaller and more affordable homes – so that’s what they’ve been bringing to the market. At the same time, there are also more newly built homes already on the market than there have been over the past few years, so builders are motivated to make sure they’re selling what they’ve got available before adding more. Reason 2: Attractive Incentives from Home Builders Another big reason to consider a newly built home is the range of incentives that many home builders are offering. Again, since builders are aiming to sell their current inventory, some are providing special deals to sweeten the pot for homebuyers. HousingWire explains today’s trend: “Overall, the usage of sales incentives was up to 61% in June, compared to 59% in May.” One of the most appealing incentives right now is how builders are able to offer competitive mortgage rates. They may also provide other incentives, such as covering closing costs, or offering free upgrades. Why This Matters to You Considering a newly built home could open up opportunities you hadn’t thought of before. With competitive pricing and attractive incentives, you might just find that a brand-new home is the most appealing option for you. Bottom Line Buying a home is a big decision, and it’s essential to consider all your options. By looking into newly built homes, you might find a perfect fit for your needs and your budget. Let’s explore the possibilities together. If you have any questions or want to see what’s available, feel free to reach out.

A Newly Built Home May Actually Be More Budget-Friendly

If you’re in the market to buy a home, there’s some exciting news for you.


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