Buying a home is a major life decision.  That is true no matter if it is your first time or not.  If you are planning to buy a home you may be hearing about today's market and wondering what that means to you.  

While mortgage rates are higher than they were at the start of the year, that does not mean you have to put your plans on hold solely based on market factors.  Instead, consider why you want to move and how important those reasons are to you.  Here are some reasons that motivate people to move today.  

A Need for More Space

The top priority for people moving out is for more space both indoors and outdoors.  Outgrowing your home is not something new.  As your lifestyle evolves you may be craving a larger yard, more entertaining room, or just need more storage space.  Having the physical space for your desired lifestyle may be reason enough to make the move.  Having a professional Waltham real estate agent can benefit you with your move.  A good real estate agent will have knowledge of the area and information on the current market conditions to get you the best price possible!

Desire To Be Close To Loved Ones

Not being around your loved ones can be tough to handle at times.  Especially when you do not get to see them face to face.  According to a recent survey 32% of people moved in recent years to be closer to their loved ones.  With covid creating flexible working conditions homeowners are more inclined to sell their Waltham home to be close to their families.  

What Does That Mean For You?

If you have been contemplating moving, one of the reasons listed above might be a top motivator for you. Even though the mortgage rates, house prices, and the current state of the housing market will play a role in your decision.  It is still important to make sure that your potential new home meets your needs.  No matter if those needs are a bigger backyard for the kids to run around in or more space for your home office.  

In Conclusion

In the end there are many reasons why people decide to move.  No matter if that is due to the current market prices or due to the reasons above.  If your needs have changed, connect with a Waltham real estate agent today.  A trusted professional real estate agent will be able to service you with knowledgeable advice when it comes to navigating the current market.  Get started by giving Hans a call at 781-891-9993 or fill out a contact form on his website.  

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key.  Here are some of the ways that a trusted Waltham real estate agent can help you navigate the current market.  

Fewer Homes Are For Sale Than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we are still nowhere near what’s considered a balanced market.  This year supply has surpassed 2021 levels by 30%.  But the further back you look, the bigger the picture makes sense.  If you were to look back to 2019 we are roughly 40% below the housing supply we had at the time.  Why does this matter? When there is low inventory, there is still demand for your house because there just is not enough homes available for sale.  

Homes Are Selling Faster Than Normal

While homes are not selling as quickly as they did a few months ago, the average number of days on the market is still well below pre-pandemic norms that is in large part of the low inventory.  During the pandemic we saw homes sell at record rates during the pandemic.  Since the pandemic we have seen a slight uptick in average days, but still much lower than pre-pandemic times.  What that means for homeowners is that if the price is right, your home could be under contract  quickly.  

Buyer Demand Has Moderated

This year has seen a hike in mortgage rates and that has affected buyer demand to soften.  Prior to the pandemic it was typical for home sold to be 2 offers, then as the market heated up the number of offers skyrocketed with record low mortgages.  However, most recently the number of offers on homes sold today are at pre-pandemic as the market cools from the frenzy.  Now do not be mistaken, buyers have not disappeared, they are still out there. 

In Conclusion

If you are looking to get your questions answered or have help being navigated through this market reach out to Hans Brings; A trusted Waltham real estate agent.  A true professional will be able to assist you through the whole process from the homes listing  to close.  Get clearity today by giving a call to 781-891-9993 or by filling out a contact form on the website. 

During the current housing market there are some people that are reluctant to sell their home in Waltham.  The consensus is that they do not want to lose their low mortgage rates they have on their current homes.  You may be in the same boat if you have been thinking about selling your house in the current market.  

Data shows that 51% of homeowners have a mortgage rate under 4% as of April of this year.  While it is true that rates are higher than that right now there are other non-financial factors to consider.  Your mortgage rate is important but there are other reasons to consider when it comes to making a move.  

Why Waltham Homeowners Are Selling 

Finances are not the only deciding factor when it comes to homeowners making the commitment to sell their home and relocate.  With the last couple years there have been new reasons popping up especially after Covid.  During Covid homeowners were spending the most time in their homes.  This lead some to realize that they are missing out on certain features or amenities.  Some realized that they need a home office since they will be conducting a remote work schedule now. 

 Now, on the other hand there are still reasons that we have heard before.  Such as wanting a smaller home that requires less work or wanting to relocate closer to a loved one.  

Bottom Line 

Even with today’s mortgage rates, your lifestyle needs may be enough to motivate you to make a change.  The best way to find out what is right for you is partnering with someone who knows the area and market well.  A trusted real estate professional who can provide you with expert guidance and advice throughout the process.  They can help walk you through your options, so you can make a confident decision based on what matters most to you and your loved ones. 
While the financial reasons to move are important, there is often far more to consider.  Non-financial reasons can also be a significant motivating factor.  

Selling Your Waltham Home 

If your home has increased in value since you bought it, selling your home now can provide you with a great profit.  Waltham Realtors say that this also allows you to seek those features and amenities that your current home is missing.  Maybe you are looking for a new office or just need a bigger yard for the kids.  Either way, selling your home will provide you with a chunk of cash and allow you to move to provide for your needs and wants.  

If you are looking to sell your home and buy a new one, contact Waltham Real Estate Agent, Hans Brings! Hans has years of experience helping clients get the best price possible for their homes.  Call today! 617-968-0022

 

Buying a home is a serious commitment especially when it is your very first time going through the process.  Like any big project a successful home buying experience is all about getting the details right from start to finish.  If you find yourself stressed out and panicked do not worry we have compiled some tips to navigate you through the process. 

Preparing to Buy

Saving early and often is ideal when it comes to you being prepared for your first home.  There are some big costs that are on the horizon. Your first big payment will be your down payment for your new home.  Now, your down payment will depend entirely on the loan you choose and the lender it is coming from.  There will also be closing costs that you will have to cover.  Once you have purchased your home moving all of your belongings is going to be time consuming so hiring a moving company may be ideal.  

Knowing your credit score is important before you begin shopping around for homes.  Your credit score will always be a work in progress, but knowing where it stands and having a plan to build it up if need be is a good way to stay ahead of the game.  Your credit score will determine if you qualify for a mortgage and affect the interest rate you are offered.  

Mortgage Selection Tips

When you are looking around for a mortgage for your new home knowing which one may suit your current situation is ideal.  The main categories of mortgages are conventional, FHA loans, USDA loans, and VA loans.  

You also have options when it comes to your mortgage term.  Most home buyers opt for the 30 year fixed rate mortgage.  This option has an interest rate that will stay the same over those 30 years.  A 15 year mortgage has lower interest rates compared to the 30 but the monthly costs are higher.  However, comparing rates and fees that are the same from multiple lenders is a great way to compare costs.  

 

Home Shopping Tips 

Buying your first home can be stressful and overwhelming.  That is why having a professional real estate agent to walk you through the whole process is recommended.  A good agent will scour the market for homes that meet your needs and walk you through negotiation and the closing process.  Sticking to your budget is important.  Having an ideal range to stay within is a must so you do not find yourself running through your savings.  

Work With a Waltham Real Estate Agent

Buying your first home is a big commitment and can be stressful the first time you go through the process.  Working with an experienced Waltham Realtor can ensure your experience to be more enjoyable. Hans Brings has years of experience helping Waltham home buyers find their perfect home, and home sellers get the best price.  Contact Hans today to inquire! 617-968-0022