Real Estate Tips, Tricks & Market Trends

To give you a better idea of just a few of the top ways agents add value, check out this list.

1. Deliver Industry Experience

The right agent – the professional – will coach you through everything from start to finish. With professional training and expertise, agents know the ins and outs of the buying process. And in today’s complex market, the way real estate transactions are executed is constantly changing, so having the best advice on your side is essential.

2. Provide Expert Local Knowledge

In a world that’s powered by data, a great agent can clarify what it all means, separate fact from fiction, and help you understand how current market trends apply to your unique search. From how quickly homes are selling to the latest listings you don’t want to miss, they can explain what’s happening in your specific local market so you can make a confident decision.

3. Explain Pricing and Market Value

Agents help you understand the latest pricing trends in your area. What’s a home valued at in your market? What should you think about when you’re making an offer? Is this a house that might have issues you can’t see on the surface? No one wants to overpay, so having an expert who really gets true market value for individual neighborhoods is priceless. An offer that’s both fair and competitive in today’s housing market is essential, and a local expert knows how to help you hit the mark.

4. Review Contracts and Fine Print

In a fast-moving and heavily regulated process, agents help you make sense of the necessary disclosures and documents, so you know what you’re signing. Having a professional that’s trained to explain the details could make or break your transaction, and is certainly something you don’t want to try to figure out on your own.

5. Bring Negotiation Expertise

From offer to counteroffer and inspection to closing, there are a lot of stakeholders involved in a real estate transaction. Having someone on your side who knows you and the process makes a world of difference. An agent will advocate for you as they work with each party. It’s a big deal, and you need a partner at every turn to land the best possible outcome.

Real estate agents are specialists, educators, and negotiators. They adjust to market changes and keep you informed. And keep in mind, every time you make a big decision in your life, especially a financial one, you need an expert on your side.

Expert advice from a trusted professional is priceless. Let’s connect today.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

What Would Motivate You To Move?

Now that you know why other people would move, take a minute to think about what would make a move worth it for you. Is it time to take a chance and go for your dream job, even though it’s not local? Are you looking for a neighborhood that has more to offer and a close-knit sense of community? Maybe you just need more space, you’re looking for your next great adventure, or you want a house that opens up rental opportunities to pad your income.

And here’s something else to consider. Mortgage rates are still expected to go down over the course of the year. And once that happens, there’s going to be a big rush of buyers jumping back into the market. While you could delay your plans until rates drop, you’ll only have more competition with those buyers if you do.

So, does that mean it’s worth it to move now, even with rates where they are? The answer is: that it depends.

You'll want to consider today’s mortgage rates, where they’re expected to go from here, and what would prompt you to want to make a change as you decide on your next steps. An expert can help with that. 

Other homeowners are getting used to rates and deciding to move. Let’s chat to go over what matters most to you and if it’s time for you to jump back into the market too. 

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

o, why the shift to less square footage? It’s simple. Builders want to build what they know will sell. Basically, they focus on where the demand is strongest. And once mortgage rates started climbing and consumers felt the challenges of affordability creeping in, it became clear there was (and is) a very real need for smaller homes. As the National Association of Home Builders (NAHB) explains:

“After a brief increase during the post-covid building boom, home size is trending lower and will likely continue to do so as housing affordability remains constrained.”

A recent article in the Real Deal says this about how this helps buyers:

“Even a slightly smaller home can be thousands of dollars cheaper — for both builders and buyers. . . In response to affordability challenges, major homebuilders are shifting priorities away from the big ticket homes and towards the cheaper set.”

What This Means for You

If you’re having a hard time finding something in your budget, it may help to look at smaller homes. And, if you consider new builds specifically, you may find a few other fringe benefits that can help on the affordability front – like price reductions or mortgage rate buy-downs. As NAHB says:

“More than one-third of builders cut home prices in 2023. NAHB expects builders to continue offering smaller homes and more affordable designs as housing affordability remains a barrier to homeownership.”

As Charlie Bilello, Chief Market Strategist, at Creative Planning, explains:

“Homebuilders are adapting to the lowest affordability on record by building smaller homes and offering more incentives/price cuts. The median square footage of a new single-family home in the US has moved down to its lowest level since 2010.”

If you explore these options, you’ll also get brand new everything, enjoy a house with fewer maintenance needs, and some of the latest features available. That’s worth looking into, right? 

Builders building smaller homes can give you more affordable options at a time when you may really need it. If you’re hoping to buy a home soon, let’s connect to look at what’s available in our area.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

• If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses.
• Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move.
• If you're thinking about moving to a smaller home, let’s go over your goals and look at your options in our local market.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Even with the latest data coming in, the experts agree there’s no chance of a large-scale foreclosure crisis like the one we saw back in 2008. While headlines may be calling attention to a slight uptick in foreclosure filings recently, the bigger picture is that we’re still well below the number we’d see in a more normal year for the housing market. As a report from BlackKnight explains:

“The prospect of any kind of near-term surge in foreclosure activity remains low, with start volumes still nearly 40% below pre-pandemic levels.”

That’s good news. It means the number of homeowners at risk is very low compared to the norm.

But, there’s a small percentage who may be coming face to face with foreclosure as a possibility. That’s because some homeowners may have an unexpected hardship in their life, which unfortunately can happen in any market.

For those homeowners, there are still options that could help them avoid having to go through the foreclosure process. If you’re facing difficulties yourself, an article from Bankrate breaks down some things to explore:

• Look into Forbearance Programs: If you have a loan from Fannie Mae or Freddie Mac, you may be able to apply for this type of program. 
• Ask for a loan modification: Your lender may be willing to adjust your loan terms to help bring down your monthly payment to something more achievable.
• Get a repayment plan in place: A lender may be able to set up a deferral or a payment plan if you’re not in a place where you’re able to make your payment.

And there’s something else you may want to consider. That’s whether you have enough equity in your home to sell it and protect your investment.

You May Be Able To Use Your Equity To Sell Your House

In today’s real estate market, many homeowners have far more equity in their homes than they realize due to the rapid home price appreciation we’ve seen over the past few years. That means, if you’ve lived in your house for a while, chances are your home’s value has gone up. Plus, the mortgage payments you’ve made during that time have chipped away at the balance of your loan. That combo may have given your equity a boost. And if your home’s current value is higher than what you still owe on your loan, you may be able to use that increase to your advantage. Freddie Mac explains how this can help:

“If you have enough equity, you can use the proceeds from the sale of your home to pay off your remaining mortgage debt, including any missed mortgage payments or other debts secured by your home.”  

Lean on Experts To Explore Your Options

To find out how much equity you have, partner with a local real estate agent. They can give you an estimate of what your house could sell for based on recent sales of similar homes in your area. You may be able to sell your house to avoid foreclosure.

If you’re a homeowner facing hardship, lean on a real estate professional to explore your options or see if you can sell your house to avoid foreclosure.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season.

Odeta Kushi, Deputy Chief Economist, First American:

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”

Lisa Sturtevant, Chief Economist, Bright MLS:

“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”

Danielle Hale, Chief Economist, Realtor.com:

“Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still relatively high, which is good for sellers.”

Skylar Olsen, Chief Economist, Zillow:

“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.”

Jiayi Xu, Economist, Realtor.com:

“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”

If you’re looking to sell, this spring might be your sweet spot because there just aren’t many homes on the market. Sure, inventory is rising, but it’s nowhere near enough to meet today’s buyer demand. That’s why they’re still selling so quickly.

If you’re looking to buy, the growing number of homes for sale this spring means you’ll have more choices than this time last year. But be prepared to move quickly since there’ll be plenty of competition with other buyers.

No matter what you're planning, let’s team up to confidently navigate the busy spring housing market.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

• Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help.
• Look into homebuyer programs, expand your search area, and consider a multi-generational home.
• Let’s connect so you have an expert on your side to help you make your dream a reality.

If you have any questions about this article or other real estate challenges, please contact me directly!

Until next time, stay real informed!

Richard Allen

REALTOR®, Media Realty Group Inc.

Licensed in MA, CT, RI and NH

President, the realinsyghts group LLC™

Zillow Premier Agent

508-686-0940

rich@realinsyghts.com

Click here to schedule a time to speak about buying a new home

Click here to schedule time to speak about selling your home

The information contained and the opinions expressed in this article are not intended to be construed as investment advice. the realinsyghts group™ LLC and Media Realty Group, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. the realinsyghts group™ LLC and Media Realty Group, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.