Expert Advice: Why You Need a Real Estate Professional in Today's Shifting Housing Market

Navigating the real estate market can be overwhelming, especially during times of uncertainty and rapid change. With housing market headlines dominating the news and generating fear and doubt, it can be hard to know where to turn for trustworthy information. That's why it's crucial to work with a knowledgeable and experienced real estate professional who can be your guide through the process. Real estate experts have access to up-to-date information on home prices, housing supply, and expert projections, giving them the tools to provide clarity and context amidst the noise of sensationalized headlines. They can help you separate fact from fiction, understand national and local market trends, and make informed decisions about buying or selling a home. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, explains, "In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt." But with the right agent on your side, you can feel confident that you have all the information you need to make the best possible decision. Whether you're buying or selling a home, a trusted real estate expert can help you navigate the market and achieve your goals. They can provide context and perspective on current trends, historical data, and local market conditions, helping you make a well-informed decision that meets your needs and fits your budget. In a world of sensationalized headlines and clickbait, it's more important than ever to work with a real estate professional you can trust. Contact a real estate expert today for expert advice and the latest housing market insights.

Think Ahead: Tips to Maximize Your Home's Resale Value

As a homeowner, it's important to not only enjoy your home while you live in it, but also to consider its resale value for when you decide to sell. Here are some tips on what to look for when purchasing a home, how to keep it classic and timeless, and what to do if you intend to sell. What to Look for When Purchasing a Home When purchasing a home, it's important to consider its long-term value and potential resale value. Here are some things to look for: Location: Consider the location of the home and its proximity to schools, shopping, and other amenities. Homes in desirable locations tend to have better resale value. Layout: Look for a home with a layout that is functional and flexible. Homes with open floor plans tend to be more desirable. Classic Features: Consider homes that have classic features, such as hardwood floors, crown molding, and built-in bookcases. These features add timeless appeal to a home. Examples of classic styles include: Colonial: Colonial homes are a popular choice for their symmetrical design, brick exterior, and classic details such as shutters and columns. Craftsman: Craftsman homes are known for their sturdy construction, exposed beams, and built-in cabinetry. Farmhouse: Farmhouse-style homes are characterized by their front porch, gabled roof, and simple, rustic details such as shiplap walls and barn doors. Curb Appeal: Pay attention to the exterior of the home and its curb appeal. Homes with well-maintained landscaping and a welcoming front entrance tend to have better resale value. Keeping Your Home Classic and Timeless Once you've purchased your home, it's important to keep it classic and timeless so it doesn't look tired and aged. Here are some tips: Stick to Classic Styles: When making updates to your home, consider classic styles that have stood the test of time. Avoid trendy styles that may quickly go out of fashion. For example, when choosing paint colors, opt for neutral shades such as white, beige, or gray rather than bold colors or trendy patterns. Stick to classic materials such as hardwood flooring, natural stone, and traditional tile patterns rather than trendy materials such as shag carpeting or geometric tiles. Quality Materials: Choose high-quality materials that will stand up to wear and tear. This will not only help your home look better, but it will also save you money in the long run. For example, when choosing countertops for your kitchen, consider durable materials such as granite, quartz, or marble rather than laminate or tile. Choose solid wood cabinetry rather than particleboard or MDF. Regular Maintenance: Keep up with regular maintenance tasks, such as cleaning gutters, replacing filters, and fixing leaks. This will help prevent larger issues down the road and keep your home looking its best. Preparing Your Home for Resale If you intend to sell your home, there are certain updates that can help increase its resale value. Here are some tips: Kitchen and Bathroom Updates: Consider making updates to the kitchen and bathrooms, as these rooms have the biggest impact on resale value. Upgrades such as new appliances, countertops, and fixtures can make a big difference. For example, consider upgrading your kitchen with stainless steel appliances, a subway tile backsplash, and quartz countertops. In the bathroom, consider adding a new vanity, a frameless glass shower enclosure, and updated fixtures. Curb Appeal: Improve the exterior of your home with landscaping, fresh paint,  a new front door, new  exterior light fixtures. Make sure the yard is well-manicured and the entryway is inviting. First impressions are important, so make sure your home makes a good one. For example, consider adding potted plants or flowers to your front porch, repainting your front door new front door hardware. In conclusion, purchasing a home is a big decision that should be made with careful consideration. It's important to think about the long-term value and potential resale value of the property. Once you've purchased your home, keeping it classic and timeless can help maintain its value and prevent it from looking dated. And if you intend to sell, certain updates can increase your home's resale value. If you have any questions or would like further guidance on making the right decision when purchasing or selling a home, reach out to a local real estate expert like Alicia Rivera. With the right knowledge and guidance, you can make the most of your investment and enjoy your home for years to come.

5 Smart and Savvy Reasons to Stop Renting and Start Owning a Home Today

Buying a house is a big decision, and for many people, renting seems like the safer and more practical option. However, there are several great and wise reasons to consider purchasing a home. In this blog post, we'll explore five of them. Building equity: One of the most significant advantages of owning a home is building equity.  Home values have increased significantly over the past several years. Over the past year, home values in Raleigh have increased by 35.7%, and over the past 5 years, they have increased by nearly 86%.  As you make mortgage payments, you are paying off your loan and increasing your ownership stake in your property. Over time, this equity can be used to fund renovations, pay for education, or even as a down payment on a second property. Stable housing costs: When you rent, you are at the mercy of your landlord when it comes to rent increases. However, when you purchase a home with a fixed-rate mortgage, your housing costs will remain stable throughout the life of the loan, barring any changes to property taxes or homeowners insurance.  Over the past year, rents in Raleigh have increased by 13%, and over the past 3 years, the average rent for a 3-bedroom place in Raleigh has increased by about 32%. As rent costs continue to rise, homeownership may become a more affordable option in the long run. Investment opportunity: Real estate has long been considered a solid investment, and for good reason. Home values tend to appreciate over time, meaning that the longer you own your home, the more it will likely be worth. Additionally, owning a home can provide a sense of financial security and stability. Tax benefits Homeownership: also comes with a variety of tax benefits. Mortgage interest, property taxes, and certain home-related expenses may be deductible on your tax return, potentially saving you a significant amount of money each year. Freedom and personalization: Finally, owning a home provides you with a level of freedom and personalization that renting simply cannot match. You have the ability to make changes to your home to suit your lifestyle and preferences without having to get permission from a landlord. Additionally, owning a home provides a sense of pride and accomplishment that renting cannot replicate. In conclusion, while renting may seem like the easier option in the short term, purchasing a home provides a variety of long-term benefits that cannot be ignored. From building equity and stable housing costs to investment opportunities and personalization, there are many great and wise reasons to consider homeownership. Don't wait until tomorrow to buy when home prices are only going up. Act now and secure your financial future.  Click to schedule a home buying planning/strategy call. SEARCH FOR HOMES Sources: Federal Reserve's Survey of Consumer Finances: https://www.federalreserve.gov/econres/scfindex.htm Zillow Home Value Index (ZHVI): https://www.zillow.com/home-values/ Tax benefits of owning a home: https://www.irs.gov/taxtopics/tc503 Hedge against inflation: https://www.investopedia.com/articles/mortgages-real-estate/11/top-reasons-buying-home.asp Zumper's report on Raleigh rents: https://www.zumper.com/rent-research/raleigh-nc/3-bedroom/ Zumper's rent increase data: https://www.zumper.com/blog/national-rent-report-june-2022/

Begin Your Homebuying Journey in Raleigh-Wake Forest, NC: Essential Tips for First-Time Buyers in a Competitive Real Estate Market When Affordable Housing is Scarce

Becoming a homeowner in the Raleigh or Greater Raleigh area when affordable housing is scarce can be challenging, but it's not impossible. Here are some steps you can take to help increase your chances of realizing your goal: Improve your credit score: A good credit score will increase your chances of being approved for a loan and also help you secure a better interest rate. Save as much as you can: Try to save as much money as possible for a down payment. A larger down payment can lower your monthly mortgage payment, making it more affordable. Consider government-sponsored programs: There are various government-sponsored programs, such as the Federal Housing Administration (FHA) loan program, that can help make homeownership more affordable for those with low or moderate incomes. Talk to an experienced loan officer for more details.   Look for homes in less expensive areas within the Greater Raleigh area: If you're willing to move to a less expensive area within the Greater Raleigh region, you may be able to find a home that fits your budget. Work with a real estate agent who specializes in affordable housing in the Raleigh area: An experienced agent can help you navigate the process of finding and purchasing an affordable home in the Greater Raleigh area, and may have access to properties or programs that you're not aware of. Look for fixer-upper homes in the Raleigh area: If you're handy, you might consider purchasing a fixer-upper home in the Raleigh or Greater Raleigh area and making the necessary repairs yourself. This can help you save money on the purchase price and increase your equity in the long run. Consider a roommate in the Raleigh area: If you can't afford a home on your own, you might consider getting a roommate to split the costs. It's important to remember that homeownership is a long-term commitment and it's important to make sure you're financially prepared before making the leap, especially in the competitive real estate market of the Raleigh area.