An inspection isn’t just a box to check; it could save you thousands.
From uncovering hidden issues to empowering you to re-negotiate, it’s one of the most valuable steps in the homebuying process.
And if you’re tempted to skip it to make your offer more competitive, let’s chat about smarter ways to make your offer stand out.
#HomeInspection #HomebuyingTips #KeepingCurrentMatters
As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As Redfin says:
“. . . today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix: Some homes are flying off the market, while others sit for weeks.”
That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly.
The first thing you should know is that, in most markets, things have slowed down a little bit. While you may remember how quickly homes sold a few years ago, that’s not what you should expect today.
Now that inventory has grown, according to Realtor.com, homes are taking a bit longer to sell in today’s market (see graph below):
But before you get hung up on the ten-day difference compared to the past few years, Realtor.com will help put this into perspective:
“In April, the typical home spent 50 days on the market . . . This marks the 13th straight month of homes taking longer to sell on a year-over-year basis. Still, homes are moving more quickly than they did before the pandemic . . .”
By this comparison, if your house does take a little more time to sell this year, it’s not really a concern. It’s actually still faster than the norm. Plus, it gives you a bit more time to find your next home, which is welcome relief when you’re trying to move, too.
Just remember, some homes sell in less time than this. Some take even longer. So, what’s the real difference? Why do some homes attract eager buyers almost instantly, while others sit and struggle?
It comes down to having the right agent and strategy. Here are a few tips you need to know.
One of the biggest reasons homes sit on the market is overpricing. Many sellers want to shoot for a higher price, thinking they can lower it later – but that backfires by turning buyers away.
What to do: Work with an agent to make sure your house is priced right. They’ll analyze recent comparable sales (what other homes have sold for recently in your area), so you know you’re pricing appropriately for today’s market and what buyers are willing to pay. As Chen Zhao, Economic Research Lead at Redfin, explains:
“My advice to sellers is to price your home fairly for the shifting market; you may need to price lower than your initial instinct to sell quickly and avoid giving concessions.”
A messy yard or a house that needs paint? It’ll turn buyers off. Since buyers decide within seconds whether they like a home, a good first impression is key.
What to do: Outside, clean up your front yard, tidy up your landscaping, power wash walkways, and add fresh mulch. Inside, declutter and depersonalize. And consider minor touch-ups like repainting in a neutral tone. Your agent will offer advice on what to tackle.
If your listing or your photos don’t look professional, you could have trouble drawing in buyers who think you’re trying to cut corners.
What to do: Instead, lean on your agent’s skills, expertise, and resources. They’ll help you make sure you have:
You may have heard the phrase “location, location, location” when it comes to real estate. And there’s definitely some truth to that. Homes in highly sought-after neighborhoods tend to sell faster.
What to do: While you can’t change where your house is located, your agent can highlight the best features of your neighborhood or community in your listing. By showcasing what’s great about your area, they can help draw buyers into what life would look like in your house.
Homes that sell quickly don’t necessarily have better features – they have better agents and a better strategy.
Are you thinking about selling? Let’s talk about how to get your home sold quickly and for top dollar.
With all the uncertainty in the economy, the stock market has been bouncing around more than usual. And if you’ve been watching your 401(k) or investments lately, chances are you’ve felt that pit in your stomach. One day it’s up. The next day, it’s not. And that may make you feel a little worried about your finances.
But here’s the thing you need to remember if you’re a homeowner. According to Investopedia:
“Traditionally, stocks have been far more volatile than real estate. That’s not to say that real estate prices aren’t ever volatile—the years around the 2007 to 2008 financial crisis are just one memorable example—but stocks are more prone to large value swings.”
While your stocks or 401(k) might see a lot of highs and lows, home values are much less volatile.
Take a look at the graph below. It shows what happened to home prices (the blue bars) during past stock market swings (the orange bars):
Even when the stock market falls more substantially, home prices don’t always come down with it.
Big home price drops like 2008 are the exception, not the rule. But everyone remembers that one. That stock market crash was caused by loose lending practices, subprime mortgages, and an oversupply of homes – a scenario that doesn’t exist today. That’s what made it so different.
In many cases before and after that time, home values actually went up while the stock market went down, showing that real estate is generally much more stable.
This graph shows how stock prices go up and down (the orange line), sometimes by more than 30% in a year. In contrast, home prices (the blue line) change more slowly (see graph below):
Basically, stock values jump around a lot more than home prices do. You can be way up one day and way down the next. Real estate, on the other hand, isn’t usually something that experiences such dramatic swings.
That’s why real estate can feel more stable and less risky than the stock market.
So, if you’re worried after the recent ups and downs in your stock portfolio, rest assured, your home isn’t likely to experience the same volatility.
And that’s why homeownership is generally viewed as a preferred long-term investment. Even if things feel uncertain right now, homeowners win in the long run.
A lot of people are feeling nervous about their finances right now. But there’s one reason for you to feel more secure – your investment in something that’s stood the test of time: real estate.
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.76% for the week ending May 1, 2025.
“Mortgage rates again declined this week,” said Sam Khater, Freddie Mac’s Chief Economist. “In recent weeks, rates for the 30-year fixed-rate mortgage have fallen even lower than the first quarter average of 6.83%.”
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
Reaction from Dr. Jessica Lautz, Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
Facts: The average 30-year fixed mortgage rate from Freddie Mac decreased to 6.76%, down from 6.81% last week. At this rate, with a 20% down payment, the monthly mortgage payment amounts to $2,078 for a home priced at $400,000. With a 10% down payment, the typical payment would be $2,337.
Positive: While mortgage rates are elevated, home buyers have more negotiating power than they did over the last several years, with more inventory. Repeat buyers have reaped stacks of cash from housing equity, allowing for all-cash purchases and hefty downpayments, offsetting higher rates.
Negative: Mortgage applications eased this week. GDP eased, but it was a cloudy picture at best, as the import of goods increased. Justified or not, consumers can be reticent to make any large purchases, including a new home, when there is uncertainty in the air. Eyes will be on the job report tomorrow as steady employment means higher home sales.
Talk about the economy is all over the news, and the odds of a recession are rising this year. That’s leaving a lot of people wondering what it means for the value of their home – and their buying power.
Let’s take a look at some historical data to show what’s happened in the housing market during each recession, going all the way back to the 1980s. The facts may surprise you.
Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time the market saw such a steep drop in prices. And it hasn’t happened since, mainly because inventory is still so low overall. Even in markets where the number of homes for sale has started to rise this year, inventory is still far below the oversupply of homes that led up to the housing crash.
In fact, according to data from Cotality (formerly CoreLogic), in four of the last six recessions, home prices actually went up (see graph below)
So, don’t assume a recession will lead to a significant drop in home values. The data simply doesn’t support that idea. Instead, home prices usually follow whatever trajectory they’re already on. And right now, nationally, home prices are still rising, just at a more normal pace.
While home prices tend to stay on their current path, mortgage rates usually drop during economic slowdowns. Again, looking at data from the last six recessions, mortgage rates fell each time (see graph below):
So, a recession means rates could decline. And while that would help with your buying power, don’t expect the return of a 3% rate.
The answer to the recession question is still unknown, but the odds have gone up. However, that doesn’t mean you have to worry about what it means for the housing market – or the value of your home. Historical data tells us what usually happens.
If you’re wondering how the current economy is impacting our local market, let’s connect.
For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room.
In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move.
In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate.
On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home.
For years, almost every market in the country was a strong seller’s market. That made it tough for buyers – especially first-timers. But now, things are shifting. According to Zillow, the national housing market is balancing out (see graph below):
The index used in this graph measures whether the national housing market is more of a seller’s market, buyer’s market, or neutral market – basically, whether it favors buyers, sellers, or if it’s not really swinging either way. Each month, the market is measured between 0 and 100. The closer to 100, the bigger the advantage sellers have.
The orange bars in the middle of the graph show the years when sellers had their strongest advantage, from 2020 to early 2022. But, as time has gone on, the market has become more balanced. It shifted from a strong seller’s market to a less intense one. And lately, it’s been neutral more than anything else (that’s the gray bars on the right side of the graph). That means buyers are gaining some negotiating power again.
In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago.
Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth. As data from Realtor.com shows, the supply of available homes for sale isn’t growing at the same rate everywhere (see graph below):
This graph shows how inventory has changed compared to last year (blue bars) and compared to 2017–2019 (red bars) in different regions of the country.
The South and West regions of the U.S. have seen big jumps in housing inventory in the past year (that’s the blue on the right). Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there.
But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic (that’s why those red bars are so big). That means those areas are more likely to stay seller’s markets for now.
Every local market is different. Even if the national headlines say one thing, your town (or even your neighborhood) could be telling a totally different story.
Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now.
As Zillow says:
“Agents are experts on their local markets and can craft buying or selling strategies tailored to local market conditions.”
Agents understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With their expert strategies, you can move no matter which way the market is leaning, because they know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price a house right, how to negotiate based on who has more leverage, and more.
If you’re ready to make a move, or even just thinking about it, let’s connect. That way, you’ll have someone to help you understand our local market and create a game plan that works for you.
What’s one thing you’re curious about when it comes to the market in our area?
When it feels like the cost of just about everything is rising, it’s only natural to wonder what that means for the housing market. Some people are even questioning whether more homeowners will struggle to make their mortgage payments, ultimately leading to a wave of foreclosures. And recent data showing foreclosure filings have increased is only feeding into this fear. But don’t let that scare you.
If you put the latest data into context, it’s clear there’s no reason to think this is a repeat of the last housing crash.
While it’s true that foreclosure filings ticked up in the latest quarterly report from ATTOM, they’re still lower than the norm – and way below levels seen during the crash. And it’s a lot easier to see if you graph that out.
If you compare Q1 2025 (on the right side of the graph) to what happened in the years surrounding the 2008 crash (shown in red), it’s clear the market is in a completely different place (see graph below):
Back then, risky lending practices left homeowners with mortgages they couldn’t afford. That led to a wave of foreclosures, which flooded the market with distressed properties, a surplus of inventory, and caused home prices to drop dramatically.
Today, lending standards are much stronger, and most homeowners are in a much better financial position. That’s why filings are so much lower this time.
And just in case you’re looking at 2020 and 2021 and thinking we’ve ramped up since then, here’s what you need to know. During those years, there was a moratorium designed to help millions of homeowners avoid foreclosure in challenging times. That’s why the numbers for just a few years ago were so incredibly low.
So don’t compare today to that low point. If you look at more normal years like 2017-2019, overall foreclosure filings are actually down from what’s typical – and way down from the volume during the crash.
Of course, no one wants to go through the process of foreclosure. And the recent increase is emotional because it’s real lives that are impacted – let’s not discount that. It’s just that, as a whole, this isn’t a signal of trouble in the market.
And here’s something else to reassure you: homeowner equity. Over the past few years, home prices have risen significantly. That means today’s homeowners have built up a solid financial cushion. As Rob Barber, CEO at ATTOM, explains:
“While levels remain below historical averages, the quarterly growth suggests that some homeowners may be starting to feel the pressure of ongoing economic challenges. However, strong home equity positions in many markets continue to help buffer against a more significant spike . . .”
Basically, if someone falls on hard times and can’t make their mortgage payments, they may be able to sell their home instead of going into foreclosure. That’s a huge contrast to 2008, when many people owed more than their homes were worth and had no choice but to walk away.
Don’t discount the strong equity footing most homeowners have today. As Rick Sharga Founder and CEO of CJ Patrick Company, explains in a recent Forbes article:
“ . . . a significant factor contributing to today’s comparatively low levels of foreclosure activity is that homeowners—including those in foreclosure—possess an unprecedented amount of home equity.”
Even with the recent increase, foreclosure numbers are not at the levels seen during the 2008 crash. Plus, most homeowners today are in a much stronger equity position, even with rising costs.
If you are a homeowner who’s facing hardship, talk to your mortgage provider to explore your options.
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81%.
“The average mortgage rate decreased slightly this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Over the last couple of months, the 30-year fixed-rate mortgage has fluctuated less than 20 basis points, and this stability continues to bode well for buyers and sellers alike.”
The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20% down and have excellent credit.
At some point, you’ve probably heard the saying: “Yesterday was the best time to buy a home, but the next best time is today.”
That’s because homeownership is about the long game – and home prices typically rise over time. So, while you may be holding out for prices to fall or rates to improve, you should know that trying to time the market rarely works.
Here’s what most buyers don’t always think about: the longer you wait, the more buying could cost you. And you deserve to understand why.
Each quarter, over 100 housing market experts weigh in for the Home Price Expectations Survey from Fannie Mae, and they consistently agree on one thing: nationally, home prices are expected to rise through at least 2029.
Yes, the sharp price increases are behind us, but experts project a steady, healthy, and sustainable increase of 3-4% per year going forward. And while this will vary by local market from year to year, the good news is, this is a much more normal pace – a welcome sign for the housing market and hopeful buyers (see graph below):
And even in markets experiencing more modest price growth or slight short-term declines, the long game of homeownership wins over time.
So, here’s what to keep in mind:
Let’s put real numbers into this equation, because it adds up quickly. Based on those expert projections, if you bought a typical $400,000 home in 2025, it could gain nearly $80,000 in value by 2030 (see graph below):
That’s a serious boost to your future wealth – and why your friends and family who already bought a home are so glad they did. Time in the market matters.
So, the question isn’t: should I wait? It’s really: can I afford to buy now? Because if you can stretch a little or you’re willing to buy something a bit smaller just to get your foot in the door, this is why it’ll be worth it.
Yes, today’s housing market has challenges, but there are ways to make it work, like exploring different neighborhoods, asking your lender about alternative financing, or tapping into down payment assistance programs.
The key is making a move when it makes sense for you, rather than waiting for a perfect scenario that may never arrive.
Time in the Market Beats Timing the Market.
If you’re debating whether to buy now or wait, remember this: real estate rewards those who get in the market, not those who try to time it perfectly.
Want to take a look at what’s happening with prices in our local area? Whether you’re ready to buy now or just exploring your options, having a plan in place can set you up for long-term success.
© 2022 Coldwell Banker Realty
©2022 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Anywhere Advisors LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.
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