Happy New Year from eXp Realty Relator Bridget Morrissey

The first priority when starting a home search

There's no need to wait – get started on your home search today with Pre-Approval: the Best Opening Play to Make as a Homebuyer. This important first step will give you an edge in the market and help you avoid any surprises down the road. 

So how does it work? Just apply for pre-approval with one of our trusted lenders, and they'll do a check of your credit score, debt-to-income ratio, and assets. Within moments, you'll be able to start browsing homes that fit your budget – and you can even lock in a great interest rate while you're at it! 

Freddie Mac says “The pre-approval letter from your lender tells you the maximum amount you are qualified to borrow. Getting a pre-approval letter is not a loan guarantee, it simply states how much your lender is willing to lend you.”

They go on to say “This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Don't wait any longer – make Pre-Approval your Best Opening Play!

A Too Small House Does Have Some Benefits

 

You might have been raised to believe that bigger is better, but there are incredible benefits of making a smaller purchase. Maybe you've lived in a giant house for years and never noticed how much it costs each month, or the advantages of living with less space. 

In this book Aaron Nelson will show you the many ways small can be beautiful--and that standing in an overpriced American McMansion isn't worth it when your children still don't want to clean their rooms. And in order to help others "go small," he'll show them where they can do so without breaking the bank! This helpful guide will lead readers from renting tiny houses from quirky landlords who love creativity, to buying affordable houses on land parcels close-in proximity to city centers.

Small houses are incredibly affordable. What might you miss out on by always looking for the least expensive option? Brain scans show that people are less happy in bigger houses, with higher prices tags. You save more money each month than most people will ever earn at their job or find that they need during retirement. 

You may find yourself accumulating new friends and enjoying an overall sense of simplicity—a mental state of ease and simplicity grasped through decluttering, minimalizing one’s possessions, and living in a smaller home.

Sure, there were some downsides—like not being able to host BBQs for all of our friends or take after-work trips without feeling guilty about leaving whoever ended up watching the kids—but who even have those kinds of friends anymore? 

And with a place this small, everything looks newer—even though we're just old enough that it wouldn't matter if anything got dirty! Natural wood furniture is so easy to maintain because it won't be stained by dirt or liquids of any kind unless there's complete submersion involved! Great-looking products can be made with real solid wood--no exceptions! 

Now that you know how much money we actually saved by living in a smaller space, do you think maybe moving again is worth it?

American home equity gains result in dream home purchases

In the wake of a recent pandemic, Americans have been cashing in on their homes' increased value. Cash-out refinancing is up 33% from last year and it is clear that this trend will continue as more people cash out to make some extra money during these hard economic times.

Property values in America are on fire, and this year's pandemic seems to have fueled an even greater appreciation. The low rates on mortgages have also made it easier for home owners. Those who were previously unable to purchase property because of high interest rates before are now being able to do so, said Dan Roccato with Credible Financial Analysts. "A record number of people are now home owners thanks to rock-bottom mortgage rates."

The Fannie Mae forecast predicts that home prices will slow down in 2022 after reaching an all-time high 18% increase from 2021 levels. This is much faster than previous years' gains, which ranged anywhere between 5 to 11%.

The prediction was made after reports came out stating how hot housing markets were becoming around the country. Low inventory numbers and interest rates being at historic lows for an extended period of time contribute to the hot market.

When a neighbor sells their house at an eye-popping price, it increases the value of surrounding properties even if they’re not for sale. This is because lenders require appraisers to weigh recent sales based on so called comparable sales - meaning similar homes within proximity that went through recently in order to come up with fair market values. The result is your home appreciates in value as your neighborhood does.

Have you had a comparable market analysis done for your home? You may be surprised to find out how much equity you have in your property. It could be time to sell and move up to your dream home!

If you want to sell your house fast, then it's important that you keep the following tips in mind:

When you are looking to sell your house, there is a lot that goes into making it look perfect. It needs to be clean and in good condition. There should also be the right colors on the walls. However, one thing that many sellers forget is that their home needs to have what buyers want these days too! There are some things that might not seem like they would make much of a difference but actually do! Here are three items every buyer wants in a home: 

1. Make sure your exterior is well-maintained. Buyers are looking for houses with curb appeal so make sure yours has it! 

2. Use neutral colors throughout the interior of your house to avoid scaring away buyers who may not be interested in bold color schemes or patterns on their walls and furniture. 

3. Keep an open floor plan by removing bulky pieces of furniture like bookshelves and armoires from common areas like living rooms, dining rooms, and kitchens. This allows buyers to see how spacious these spaces really are.

It is important to know what buyers want. If your house doesn't have these features, potential buyers will immediately lose interest and move on to another listing. They don't think about whether or not they actually need the feature; they just see that it's not there and go elsewhere. Contact an experienced Realtor like Bridget Morrissey for more information about some of the most desirable features when buying a new home. 

2019 Real Estate Predictions

According to Zillow, there may be some changes to the real estate market in 2019.  See what Zillow is predicting at snip.ly/op454x

5 Reasons To Sell This Winter!

Here are five reasons listing your home for sale this winter makes sense.


1. Demand Is Strong


The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other to buy a home.


Take advantage of the buyer activity currently in the market.


2. There Is Less Competition Now


Housing inventory is still under the 6-month supply that is needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.


Historically, the average number of years a homeowner stayed in their home was six but has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.


The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.


3. The Process Will Be Quicker


Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 46 days.


4. There Will Never Be a Better Time to Move Up


If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!


Prices are projected to appreciate by 4.8% over the next year according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.


5. It’s Time to Move on With Your Life


Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?


Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.

Pick the best listing agent to sell your home

Best Real Estate Agents in Mystic

Are you looking for the best real estate agent in Mystic to sell a home? Top real estate agents in Mystic do more than than place a sign on your property and pray that someone sees it.  If you want a successful real estate agent in Mystic then please check my profile at Zillow, Trulia or Realtor.com. 

 

 

Click on the image above for the Mystic Home Sellers Listing Guide.

  

 

Click on the image above for a quick video about the

Five Star Professional Real Estate Agent Award.