Sales of previously owned homes saw a home sales drop of 2.5% in August compared to July, reaching a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors (NAR). This marks the third consecutive month where sales stayed below the 4 million mark, reflecting a continuing decline. Additionally, sales were 4.2% lower than in August 2023. The numbers are...
Yesterday, the Federal Reserve made a significant move by cutting Interest Rates by 0.5%. If you’re in the market to buy a home, this is big news! But what does it mean for you? Lower Interest Rates by 0.5% can make mortgages more affordable. When the Fed lowers rates, banks often follow suit, reducing the cost of borrowing. This means your monthly mortgage payments could be lower, and you might be...
Great news for homebuyers! Mortgage rates have recently dropped from 7.25% to 6.11%, significantly impacting affordability. Let’s break down what it means for you when mortgage rates drop, especially if you’re considering buying a home. When mortgage rates drop, your monthly payments become lower, allowing you to afford a more expensive home or save on your existing budget. Let’s look at the...
Selling your house can be a daunting task, but with a little preparation, you can make the process smoother and more profitable. Here are 10 things to do before you sell your house that will help you attract buyers and get the best price. Declutter and Depersonalize: Start by removing personal items and unnecessary clutter. This allows buyers to envision themselves in the space. Make Necessary...
The real estate market is always evolving, but one factor that adds an extra layer of uncertainty is the election year. For both buyers and sellers, understanding how real estate during an election year performs can be crucial for making informed decisions. Historically, election years bring hesitation to the market. Potential buyers and sellers may hold off on major decisions, waiting to see how the...
Owning rental properties across different cities or states is a smart investment strategy, but it comes with unique challenges. These Long-Distance Landlord Tips will help you manage your properties remotely with organization, reliable systems, and creativity to minimize stress and maximize returns. 1. Hire a Reliable Property Management Company One of the best ways to manage a rental property remotely...
Technology is transforming nearly every aspect of the real estate industry, and for investors, these advancements offer new opportunities, greater efficiency, and more informed decision-making. From data analytics to virtual reality tours, today’s tech tools are reshaping how real estate investments are identified, managed, and scaled. Here’s a look at how technology is changing the landscape of real...
When it comes to rental properties, smart renovations can significantly boost your return on investment (ROI). However, not all upgrades are created equal. Some can enhance your property’s value and increase rental income, while others might not offer much of a return. Here’s how to make the most out of your renovation budget and maximize your ROI. 1. Focus on Kitchens and Bathrooms Kitchens and...
Investing in real estate offers more than just the potential for passive income and long-term appreciation. One of the biggest advantages of real estate investment is the array of tax benefits that can significantly enhance your profitability. Understanding these tax advantages and deductions can help you maximize your returns and minimize your tax liability. In this post, we’ll explore some of the key...
In a significant turn of events for potential homebuyers, mortgage rates have dropped to 6.54%, marking the lowest they’ve been since January 2023. This dip in rates is a welcome relief for those who have been keeping an eye on the fluctuating market, waiting for the right time to make their move. The housing market has been through a rollercoaster ride over the past year, with interest rates climbing...