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When is the best time to sell your home? Deciding when to sell your home can feel like a daunting task. Market trends, personal circumstances, and even the weather can all play a role in determining the best time to list your property. In this blog, we'll break down the factors that influence timing, giving you the tools to make an informed decision. Traditional Selling Seasons Historically, the real estate market has a rhythm: Spring and Summer:  These are widely considered the prime seasons to sell a home. Families often prefer to move during these months to avoid disruptions to the school year. Additionally, homes show well in brighter weather, and buyers tend to be more active. Fall:  While slightly less popular than spring and summer, fall can still be a good time to sell. With cooler weather and fewer listings, motivated buyers can result in quicker sales. Winter:  The holiday season and colder weather generally slow down the market. However, if you list during winter, you may face less competition and attract serious buyers. Market Conditions to Sell Your Home Timing your sale around market conditions can significantly impact your success: Low Inventory:  When fewer homes are on the market, sellers can benefit from increased demand, often leading to higher prices . Ask your agent  to send you a list of all the homes for sale in your neighborhood. They should also determine how many months of inventory your neighborhood has. This will help you determine if you are in a buyer's market or a seller's market. A seller's market will have 3 months or less of available inventory, while a buyer's will have over 6 months. Interest Rates:  Low mortgage rates can motivate buyers to act quickly, making it an excellent time to list your home. While rates have been unpredictable for the last couple of years, economists predict a leveling out in 2025. Local Trends:  Every real estate market is different. Work with a local real estate expert to understand your specific area's trends and cycles. Personal Readiness Beyond the market, your personal situation plays a vital role: Financial Preparedness:  Are you financially ready for the costs associated with selling and moving? Understanding closing costs, agent fees, and potential repairs is crucial. Ask your real estate agent to send you a net sheet that breaks down all the profit and loss from your sale before hitting the market. Lifestyle Needs:  Are you relocating for a new job, downsizing, or looking for more space? Your reason for selling may dictate your timeline. Preparing Your Home The condition of your home can also influence when to list: Seasonal Maintenance:  Spring and summer give you the chance to showcase blooming gardens and lush landscaping, while fall and winter may require extra effort to make your home inviting. No matter the season, be sure your home is looking it's best to maximize your home value potential. Renovations:  Consider whether your home needs repairs or updates. A little preparation can make your property more appealing, regardless of the season. Ask your realtor to walk your property and list any repairs they feel might get you more money in your home sale. Consult a Real Estate Professional A trusted real estate professional can help you navigate these factors. They'll provide market insights, recommend timing strategies, and guide you through the entire selling process. At The Harper Home Co ., we specialize in helping sellers like you achieve your goals—on your timeline. Conclusion While spring and summer often steal the spotlight as the "ideal" times to sell, the truth is, the best time to sell your home is when you're ready. By considering market conditions, your personal circumstances, and the readiness of your property, you can make a confident decision. Need help deciding when to sell?  Reach out to The Harper Home Co . today for expert advice tailored to your unique situation.

Even though there are more homes available for sale than there were at this time last year, there are still more buyers than there are houses to choose from. So, know that if you’ve got  moving  on your mind, your home can really  stand out . There are several key reasons why there aren’t enough homes to go around and understanding them will help you see why the market is working in your favor if you’re ready to make a move. What’s Causing the Housing Shortage? 1. Underproduction of Homes:  For years, the industry hasn’t built enough homes to keep up with demand. As  Zillow  explains: “In 2022, 1.4 million homes were built — at the time, the best year for home construction since the early stages of the Great Recession. However, the number of U.S. families increased by 1.8 million that year, meaning  the country did not even build enough to make a place for the new families, let alone begin chipping away at the deficit that has hampered housing affordability for more than a decade .” 2. Rising Costs:  Building materials, labor shortages, and supply chain disruptions caused by the pandemic have all made it harder and more expensive to build homes. This can either limit or stop new home construction in some areas. 3. Regional Imbalances:  Some markets are more affected by the shortage of homes than others. Popular and more desirable areas have more people moving in faster than new homes can be built. The number of new building permits issued doesn’t always keep pace with job growth in these regions, and that leads to even tighter markets and higher prices. How Big Is the Problem? According  to estimates from  Real Estate News , the U.S. is facing a housing shortfall of roughly 3.3 million homes, based on an average of several expert insights ( see graph below ): This shows there’s a significant number of homes that need to be built just to meet current demand from buyers. But what about future demand? According  to  John Burns Research and Consulting  (JBREC),  over the next 10 years, the U.S. will need about 18 million new homes to meet projected demand,  including homes for new households, second homes, and replacements for aging or unusable homes. So, even though more homes are on the market compared to last year, there still aren’t enough of them to go around. This is where you can really win if you’re ready to sell your house. What You Need To Remember If you’re thinking about selling, the shortage of homes for sale means your house is likely to get some serious attention from buyers. It’ll take years to climb out of this inventory deficit, and the market is still very tight. So, when buyers are competing for relatively few homes like they are right now, that creates more interest in the houses that are on the market, putting upward pressure on prices and ultimately working in your favor. And since every market is different, it’s important to work with a  real estate agent  who understands local trends. They can help you price your house right and create a strategy to attract the right  buyers . Bottom Line While there are more homes for sale than there were at this time last year, there’s still a shortage overall. And this puts you in the driver’s seat as a seller. Let’s connect so you have someone who can help you take advantage of today’s market.

If your goal is to sell your house in 2025, now’s the time to start prepping. Even though it might seem like there’s plenty of time between now and the new year, you should get a head start on any updates or repairs you want to make now. As Danielle Hale, Chief Economist at Realtor.com , says : “ . . . now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list . . . We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so getting them to start that process early can mean more flexibility.” By starting your prep work early, you’ll give yourself plenty of time to get your house market-ready by the end of the year. But be sure to partner with a great agent before you get started, so you have expert insight into what repairs are worth it based on your local market. Why Starting Early to Sell Your Home Is Key To get the best price and sell quickly , it’s important that your home looks its best. And that means it’s up to you to make the necessary repairs, declutter, and even consider updates that could add value as part of getting your house ready to list. By starting now, you can tackle things one task at a time. Whether it’s fixing that leaky faucet, refreshing your landscaping, or painting a room, getting an early start gives you the flexibility to do the job right and with as little stress as possible. Because, if you wait to knock items off your list later on, they could quickly stack up and get overwhelming . As Realtor.com explains : “There are some important repairs to make before selling a house, so don’t be in too much of a hurry to get your home listed … if you move too fast, buyers see right through the fact that you skipped important home renovations. And this . . . might end up costing you time and money .” What Should You Focus On? Feeling motivated to start chipping away at that to-do list, but not sure where to start? Here’s a look at the most common improvements other sellers are making today ( see graph below ): The Importance of Working with a Local Agent And while that data gives you a starting point, it shouldn’t be seen as a comprehensive list. What buyers want in your area may be different, and only a local agent will have this in-depth understanding. For example, if homes in your area are selling quickly with updated kitchens, your agent might suggest focusing on minor kitchen improvements rather than spending money on other areas that won’t offer as much return. They’ll also help you figure out if tackling larger projects, such as replacing your roof or upgrading your HVAC system, is worth it based on other recently sold homes. As Point says: “Not all renovations are created equal, and focusing on upgrades that offer the highest potential for increasing your home's value is key .” And remember, it’s not just big-ticket items that can have an impact. Your agent will also speak to some of the smaller details – like cleaning up your yard, adding fresh mulch, or painting your front door – to make a real difference in how buyers feel about your home. This type of expert eye is crucial to help your house sell fast and for top dollar. Bottom Line Thinking of selling your house next year? Don’t wait until the last minute to get it ready. By getting a head start now, you can ensure everything is in place by the time the new year rolls around. Need advice on what to tackle first? Let’s connect.

Thinking about updating your home? You're not alone. Over the past five years, 94% of homeowners completed a major renovation project. Whether it's a fresh coat of paint or a full bathroom remodel, staying on top of the latest trends can help you make smart decisions that add value and enjoyment to your home.  But here's the catch—78% of those renovations came with budget overruns, and many also encountered unexpected delays and even regret. Today, we'll dive into the top renovation trends of 2024 and share tips to help you confidently navigate your next project. Renovating vs. Relocation With rising home prices and mortgage rates, many homeowners are choosing to stay put and invest in their current property rather than move. According to Clever Real Estate , 63% of homeowners prefer to remodel their homes instead of moving into one that's already updated. Whether it's to improve comfort, repair damage, or boost resale value, renovations can help tailor your living space to fit your evolving needs. However, practical reasons are not the only ones driving these decisions—renovating offers an exciting opportunity to create a more personalized space. In fact, 45% of homeowners say they renovate simply because they want to, not because they need to. From bold new color schemes to modern kitchen layouts, home improvements let you unleash your creativity. Top Renovation Projects for 2024 #1—Bathroom Remodels  One of the most popular renovations, bathroom remodels, tops the list, with 37% of homeowners tackling this space. Modern bathrooms emphasize spa-like elements, with features like rainfall showers, freestanding tubs, and sleek vanities making frequent appearances. Updating your bathroom can not only improve comfort but also offer a solid return on investment when it comes time to sell. #2—Interior Painting  A simple way to refresh your home, interior painting continues to be a top DIY project, with 33% of homeowners giving their walls a fresh look in 2024. Neutrals like white and gray remain popular, though many are experimenting with bold accent walls and statement colors to add a personalized touch. #3—Energy-Efficient Upgrades  HVAC upgrades are a practical renovation that's seen a rise in demand, with 30% of homeowners choosing to invest in more energy-efficient heating and cooling systems. In a time where energy savings are more important than ever, these updates can make your home more eco-friendly and reduce monthly utility bills. The Costs of Home Renovations—78% Exceeded Their Budget While home renovations can boost the value and comfort of your home, they often come with unexpected expenses. Nearly 78% of homeowners went over budget on their last renovation, with 44% exceeding their budget by $5,000 or more. To avoid this, it's essential to factor in a buffer for unforeseen costs, whether you're working with a contractor or handling the project yourself. One of the biggest decisions you'll face is whether to go the DIY route or hire a professional. While hiring a contractor may save you time and deliver higher-quality results, it can also be more expensive. According to a recent survey, 53% of homeowners who hired contractors went over budget, compared to 42% of DIYers. Whichever path you choose, make sure to research and plan thoroughly to avoid the most common pitfalls. On top of renovation costs, it's essential to always have some savings for home maintenance or unexpected repairs. In 2025, 85% of homeowners spent money on unplanned repairs, with nearly half saying these surprise expenses have exceeded their home maintenance expectations. Renovation Regrets—and How to Avoid Them While home improvements can transform your living space, not all projects go as smoothly as planned. Of those who have remodeled in the past five years, 74% have regrets.  The most common regret? Overspending and renovations are taking longer than expected. The key to avoiding these regrets? Setting a realistic budget, managing your time wisely, and ensuring clear communication with contractors. For younger homeowners like Gen Z and millennials, the focus is often on projects that boost resale value. Yet, this group is also more likely to experience regret, with 82% of millennials and 89% of Gen Z expressing some form of renovation remorse. If resale value is your priority, keep in mind that sometimes smaller, well-executed updates can offer a better return on investment than large-scale projects. Final Thoughts: Make Your Renovation Count Renovating your home is a big decision, but it can also be incredibly rewarding when done right. Whether you're fixing up your forever home or adding value before selling, staying informed on renovation trends and potential challenges is key to success.

By now, you've probably heard about the news: the Federal Reserve recently cut interest rates for the first time in four years.  But what does that really mean for home buyers and sellers? How does this impact mortgage rates, home prices, or your ability to make a move in today's market? Understanding these changes could be your key to making smart real estate decisions—so let's break it down. A Closer Look at the Fed's Rate Cut Decision On September 18, 2024, Fed Chair Jerome Powell announced during his press conference, " We have in fact begun the cutting cycle now ."  The Fed began its rate-cutting cycle with a reduction of half a percentage (50 basis points). This decision was expected, and experts believe more cuts could be made before the end of the year. Keep in mind that the Fed doesn't directly control mortgage rates. However, its decisions influence the financial markets, which is why mortgage rates started to drop this summer. Over the past year, we saw mortgage rates as high as 7.79% (October 2023), but they've recently fallen to around 6.20% (September 2024).  For you, this could mean better affordability when buying a home or more opportunities if you're planning to sell. How do mortgage rates impact purchasing power? The recent decline in mortgage rates works in favor of buyers. Lower mortgage rates mean you can afford more house for the same monthly payment. In fact, a 1% drop in mortgage rates can significantly boost your buying power. According to Realtor.com , "a buyer who budgeted to buy the typical home in 2023 now has an extra $70,000 in home purchasing power for the same monthly cost."   Those sticking to a house at the same price point can see significant month-to-month savings. Mortgage rate shifts have led to $300 monthly savings compared to May 2024 and $340 savings compared to October 2023, assuming a 20% down payment on a typical home purchase.  That's a big deal for buyers. Will mortgage rates continue to decline? No one expects mortgage rates to take a nosedive. In fact, after Powell's press conference, mortgage rates actually increased slightly—from 6.15% to 6.17%, according to Mortgage News Daily .  Zelman & Associates managing director Alan Ratner explained why in a recent interview , which took place before the Fed's rate cut. He stated that the early September rate drop was due to the " mortgage market already pricing in a Fed easing cycle ."  "We've seen mortgage rates already pull back roughly 100 basis points from the high, so the Fed simply announcing this week…that shouldn't have too much of an impact on the mortgage market ," Ratner said.  However, that doesn't mean rates will go up, either. Ratner continued, " Over time, we do expect to see rates gradually decline as inflation remains tame ." While there may be some fluctuation in rates, other experts agree that rates will likely continue a downward trend over time. Mark Zandi, chief economist at Moody's, believes that " the 30-year fixed mortgage rate will be closing in on 6.0% by the end of the year and settle in near 5.5% by the end of 2025 ."  In addition, Fannie Mae revised its mortgage rate forecast and now expects mortgage rates to decline to 5.7% by the end of 2025.  Will the lock-in effect finally break? One of the biggest challenges for the housing market over the past two years has been the so-called "lock-in effect." Homeowners who locked in ultra-low mortgage rates during the pandemic have been reluctant to sell, knowing they'd have to take a new mortgage at a higher rate. But with mortgage rates now trending downward, this effect might start toease. As Powell pointed out during the press conference , "As rates come down, people will start to move more, and that is probably beginning to happen already."   This shift could lead to more inventory hitting the market, but Powell was careful to note that this wouldn't necessarily create a surge in demand. "When that happens, you've got a seller, but you've also got a new buyer in many cases. So it is not obvious how much additional demand that would make," he said. Will home prices go up or down? The question everyone wants an answer to is whether home prices will rise if more buyers take advantage of lower mortgage rates. Powell addressed this concern, saying, " The housing market, it's hard to game that out… The real issue with housing is that we have had, and are on track to continue to have, not enough housing ." In other words, even as nationwide inventory has increased, supply constraints remain a major issue. The supply of homes plays a huge role in determining prices. So, while more buyers may enter the market if mortgage rates decline, the overall impact on prices will depend on how much inventory is available.  Final Thoughts The Fed's recent rate cut is a big deal for the housing market. While it's hard to predict exactly how things will unfold, one thing is clear: lower mortgage rates are creating opportunities. If you want to dive into local data, or are interested in what today's mortgage rates mean for you, reach out here to schedule a discovery call here.

The past few years have been tough for buyers. And if you think back to before the pandemic, you’ll likely remember hearing that spring was always the ideal time to buy a home. After all, that’s when the majority of homeowners list their homes for sale, and more homes on the market means more options for buyers.  This fall, however, marketing conditions are aligning in favor of homebuyers in many markets, creating a unique window that hasn’t happened in recent years. Realtor.com even named September 29 - October 5 the best week to buy a home  in 2024.  "This year buyers who are looking for that optimum mix of ample options and the potential to save on list price are going to find some of the best market dynamics in years during the first week of October," said Danielle Hale, chief economist, Realtor.com®. So, what makes this season stand out?  Let's break down the data below.  #1—Lower Mortgage Rates After months of steady climbs, mortgage rates have recently dipped to their lowest levels since February 2023, falling to 6.11%  on September 11.  This decline offers buyers a chance to lock in more favorable rates and save substantially on their monthly payments. For instance, the monthly payment on a typical home purchase has decreased by over $100 since peaking in May, according to Zillow .  But here’s the catch: mortgage rates are unpredictable. While they’re lower now, they could rise again without warning. Acting now could mean the difference between getting a great deal and missing out.  #2—Peak Inventory Levels If you’ve been holding out for more options, your patience has paid off. In August, the number of homes for sale increased by 22.1%  compared to the same time last year. And, Realtor.com reports that the first week of October will likely feature 37% more active listings  than at the start of the year, offering the widest selection for buyers. "Unlike the past few years, we are seeing ample for-sale inventory which could soak up any late-season demand in many markets, making the fall a great time to buy even if falling mortgage rates amp up more demand than is typical," said Hale. More inventory means more choices — and more opportunities to find the perfect home. It also means less pressure to make a snap decision, allowing you the time to thoroughly consider your options without worrying about losing out to another buyer. #3—Less Competition Means More Negotiating Power Spring and summer are traditionally hot buying seasons, with a typical cooling in fall and winter. Buyer demand is expected to drop by nearly 30% compared to the spring peak. This reduction in competition could give you a leg up in negotiations, whether that means offering below the asking price or asking the seller to cover some of your closing costs. #4—Price Reductions are More Common In a market with more inventory and less competition, sellers are often more motivated to make deals happen. In August, 25.9%  of listings experienced price cuts nationwide, compared to 23.4% a year ago. If you’ve been frustrated by inflated prices, you might find more opportunities to negotiate a lower price or snag a deal on a home that has been sitting on the market. In addition, Redfin reports  that the number of homes sold above their list price has also dropped, from 33% last year to just 27.9% in the four weeks ending September 8. In practical terms, this means that sellers are more willing to negotiate, giving you the opportunity to buy a home for less than you might have expected. Seasonal Housing Market Trends for Homebuyers While fall is typically seen as a slower season for real estate, it can actually be a strategic time to buy. Many sellers want to close deals before the holiday season, making them more motivated to negotiate. That’s part of the reason why Realtor.com  identified the week of September 29 – October 5 as the best week to buy a home this year (along with the reasons above!).  If you’re thinking about buying a home, waiting until spring could mean higher rates, fewer options, and stiffer competition. This fall is offering a rare combination of lower mortgage rates, more inventory, reduced competition, and increased negotiating power. If you’re interested in learning more about your options, reach out here  for with your questions.

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t small. As Sam Khater, Chief Economist at Freddie Mac , says : “Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.” But if you want to see it to really believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment. The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan if you purchased a house back in April (this year’s mortgage rate high), versus what it could look like if you buy a home now ( see below ): Going from 7.5% just a few months ago to the low 6s has a big impact on your bottom line. In just a few months’ time, the anticipated monthly payment on a $400K loan has come down by over $370. That’s hundreds of dollars less per month. Bottom Line With the recent drop in mortgage rates, the purchasing power you have right now is better than it’s been in almost two years. Let’s talk about your options and how you can make the most of this moment you’ve been waiting for.

As we step into September, attention is firmly focused on the Federal Reserve. Most analysts anticipate a cut to the Federal Funds Rate in their upcoming meeting, largely due to recent indications of cooling inflation and a slowdown in the job market. Mark Zandi, Chief Economist at Moody’s Analytics, remarked: “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.” But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or seller ? Why a Federal Funds Rate Cut Matters The Federal Funds Rate is a significant factor that impacts mortgage rates, but it's not the only one—other elements like the state of the economy, geopolitical events, and more also play a role. When the Fed lowers the Federal Funds Rate, it provides insight into broader economic trends, and mortgage rates typically react. Although a single rate cut may not cause a sharp decrease in mortgage rates, it can support the ongoing gradual decline we've been seeing. As Mike Fratantoni, Chief Economist at the Mortgage Bankers Association (MBA), points out : “Once the Fed kicks off a rate-cutting cycle, we do expect that mortgage rates will move somewhat lower.” And any upcoming Federal Funds Rate cut likely won’t be a one-time event. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says : “Generally, the rate-cutting cycle is not one-and-done. Six to eight rounds of rate cuts all through 2025 look likely.” The Projected Impact on Mortgage Rates Here’s what industry experts are forecasting for mortgage rates through 2025. One key factor contributing to this expected gradual decline is the anticipated rate cuts from the Fed. The graph below highlights the most recent projections from Fannie Mae, MBA, NAR, and Wells Fargo (see graph below): So, with recent improvements in inflation and signs of a cooling job market, a Federal Funds Rate cut is likely to lead to a moderate decline in mortgage rates ( shown in the dotted lines ). Here are two big reasons why that’s good news for both buyers and sellers: 1. It Helps Alleviate the Lock-In Effect For current homeowners, lower mortgage rates could help alleviate the lock-in effect, where people feel tied to their current home because today’s rates are higher than the ones they secured when purchasing. If concerns about losing your low-rate mortgage and facing higher costs have kept you from selling, a slight decrease in rates might make selling more appealing. However, it’s unlikely this will lead to a surge of sellers entering the market, as many homeowners may still be hesitant to part with their existing mortgage rates. 2. It Should Boost Buyer Activity For potential homebuyers, a drop in mortgage rates could make the housing market more attractive. Lower rates can reduce the total cost of owning a home, making it more affordable for those who have been waiting for the right time to make a move. What Should You Do? Although a Federal Funds Rate cut isn’t expected to cause a sharp drop in mortgage rates, it will likely support the gradual decline already underway. While the anticipated rate cut is a positive signal for the future of the housing market, it’s essential to weigh your options in the present. As Jacob Channel, Senior Economist at LendingTree, aptly puts it: “Timing the market is basically impossible. If you’re always waiting for perfect market conditions, you’re going to be waiting forever. Buy now only if it’s a good idea for you.” Bottom Line The anticipated Federal Funds Rate cut, fueled by cooling inflation and slower job growth, is expected to positively influence mortgage rates, though gradually. This shift could open up new opportunities for you. When you're ready, let’s connect so you’ll be well-positioned to take action when the timing is right for you.

Now, more than ever, having the right home insurance is essential.  But with rates on the rise, how do you ensure you're getting the best coverage without breaking the bank? Let's explore the ins and outs of home insurance and uncover some strategies to secure the best deal for your home. Understanding the Rising Costs of Home Insurance Since 2019, home insurance rates have surged by 37.8% across the United States. Several factors contribute to this rise: Inflation and Home Prices : As home prices increase, so does the cost of insuring them. Inflation has also increased the cost of building materials, making repairs more expensive. Insurance Company Costs : Insurance companies are facing higher costs to repair homes and are passing these costs on to consumers. Home insurance rates in California are up 48.4%, while Tennessee is up by 7.5% since 2019. Note: look up how much rates have increased in your state here .  While this is news no one wants to hear, there are things you can do to secure a lower rate. Let's take a look.  How to Find the Best Home Insurance Rates Shop Around and Compare Quotes Just like you wouldn't buy a house without looking at a few options, don't settle for the first home insurance quote you get. Compare quotes from multiple providers to see who offers the best rates for the coverage you need. I can help connect you with vetted home insurance representatives in your neighborhood. Bundle Your Policie s Many insurance companies offer discounts if you bundle your home insurance with other policies, such as auto insurance. This can lead to significant savings and simplify your insurance management. Improve Your Home's Security Many insurance companies often provide discounts for homes with enhanced security features. Installing alarm systems, smoke detectors, and deadbolt locks can reduce your premium. Some insurers even offer discounts for eco-friendly home upgrades. Increase Your Deductible Opting for a higher deductible can lower your monthly premium. However, ensure you choose a deductible that you can afford in case you need to make a claim. Make Strategic Home Improvements Insurance companies look at the age and condition of your property—and pay close attention to exterior features like the roof, windows, and doors. These renovations can help you lower your home insurance rates. Adding features like storm shutters or upgrading electrical systems can also make a difference.  Maintain a Good Credit Score In many states, insurance companies use your credit score to determine your premium. A higher credit score can result in lower rates. Make sure to pay bills on time, reduce debt, and monitor your credit report for any errors. Review Your Coverage Annually Your insurance needs may change over time, so it's essential to review your coverage annually. Ensure that your policy still meets your needs and that you're not paying for unnecessary coverage. Conclusion Securing the best home insurance at the best price requires a bit of research and strategic planning. You can protect your home without overspending by understanding the factors driving up insurance costs and taking proactive steps to reduce your premium. Remember to review your policy regularly and stay informed about changes in the insurance landscape. Your home is one of your most valuable assets—make sure it's adequately protected.

In March, the National Association of Realtors (NAR) agreed to a settlement deal that will make some significant real estate industry changes. The organization agreed to a monetary settlement and real estate practice changes aimed at providing more transparency regarding how real estate agents are paid.  But how exactly does that change things for you? There are two main differences you may be hearing about: Compensation offers for buyer brokers or buyer agents can no longer be made on the Multiple Listing Service (MLS). Real estate agents must enter a written agreement with a homebuyer before giving them a property tour. A realtor can only show you a property with this signed document. Headlines might make these changes seem overwhelming. And while some of the paperwork is new, the reality is that the majority of professionals in the industry will continue to provide the same service they always have. To help you get a better understanding of what this means for you, here are six key things home buyers and sellers should know about the changes going into effect on August 17, 2024.  What Real Estate Industry Changes Mean For Homebuyers #1—Homebuyer Agreements Your real estate agent needs to have a written agreement signed before they can show you homes. This doesn't mean you are locked in for life—some agreements can be for one property, some for one week, and some for a longer period of time.  When interviewing buyer agents, be sure to ask about the different options available and understand exactly what services are included. #2—Know What You're Paying For This agreement will clearly outline your agent's compensation. If the agreement is not specific, or if you have questions, ask for clarification (and get it in writing) before signing anything.  And, just like before, agent fees are negotiable. This settlement doesn't change that. #3—Seller Deals Still Exist Sellers can still offer to cover some of your closing costs and even the buyer agent fees as an incentive. While you won't see the seller's offers to buyer agents on the MLS listings anymore, that doesn't mean they're gone. Your agent can determine if the seller is offering buyer agent compensation (or negotiate for it should you decide to make an offer on a property).  What Changes Mean For Home Sellers #1—The Power of Choice You're still in control! You can decide if you want to offer compensation to buyer brokers. When interviewing your listing agent, ask about the pros and cons of providing buyer agent compensation to help you determine what the best option is for your situation.  #2—Transparent Terms Your listing agent must obtain your approval before making any offer of payment to buyer brokers. If you choose to offer compensation, the terms must be transparent and made in writing—including how much and how it will be paid.  #3—MLS Dos and Don'ts As a seller, you can no longer put offers of buyer broker compensation on the MLS. (This must happen off MLS.) However, you can still offer buyer concessions on the MLS, like buyer closing costs.  Final Thoughts These changes are designed to make the process of agent compensation when buying or selling a home more transparent. That being said, there are going to be different options available, so it's important you take the time to understand them all. By working with a knowledgeable real estate agent, you can ensure that your home buying or selling experience is positive and successful.  For more information about these changes, visit facts.realtor or schedule a Q&A session with me here.

The Big Picture: National Home Price Predictions for 2025 It's hard to believe 2024 is halfway over! Looking ahead to 2025, experts predict a slowdown in the national housing market's breakneck pace. Now, that doesn't mean prices are plummeting. In fact, the average forecast anticipates a +2.5% increase in national home prices for 2025. That would mark the 13th consecutive year of home price growth .  Home projections vary among major groups, with predictions running from a 0.3% increase to 4.4% Goldman Sachs: +4.4% growth in home prices in 2025 Wells Fargo: +4.3% Mortgage Bankers Association: 3.3% Morgan Stanley: 3.0% Zelman & Associates: 2.3% Fannie Mae: 1.5% Freddie Mac: 0.5% Moody's Analytics: 0.3% It's Not a One-Size-Fits-All Picture While national trends provide a useful overview, real estate is inherently local. Temecula Valley might not follow the national average. Local factors such as the labor market, inventory levels, and specific regional economic conditions will significantly shape the housing market here.  For instance, areas with strong job growth and limited housing supply may continue to see higher price appreciation, while other regions may experience more modest gains or even slight declines. Some of the key factors I watch every month include:  Inventory Levels Interest Rates Average Days on the Market Median Sale Prices List-to-Sale Price Ratio If you want to be updated on the local market data, sign up for our newsletter here. Navigating the real estate market in Temecula in 2025 requires a blend of national insights and local expertise. By understanding the broader trends and keeping an eye on local market dynamics, you can make informed decisions about buying or selling a home. Stay tuned for more updates, and feel free to reach out with any questions or for personalized advice on your real estate journey.

When it comes to selling your home, making a great first impression is crucial. Home Renovation projects do not always mean you have to break the bank! New data from Zillow reveal that you don't need to break the bank to boost your home's appeal. "Certain low-lift projects can deliver a high payoff because they elevate a home in the mind of a buyer," said Amanda Pendleton, Zillow's home trends expert. Here are the top 10 no-demo home renovation projects of 2024 that can make your home stand out in the market and attract more buyers. 1. Window Boxes Who doesn't love a pop of color and greenery? Window boxes are a classic way to enhance your home's curb appeal. These charming containers for flowers, plants, or herbs can be installed just below the window sill, instantly bringing new life to your home's exterior. ● Zillow stats: Homes with a window box receive 48% more saves and 52% more daily shares compared to similar homes without this feature. ● Average national cost: $100 to $150 for professional installation and $15-$900 for materials. 2. Open Shelving Open shelving has become a hot trend in home decor, with closet systems and shelving installations up 31.5% year over year, according to Thumbtack. It's a great way to display your favorite items while creating an airy and modern look. This project can be a DIY endeavor, or you can hire a professional for a custom built-in. ● Zillow stats: Homes with open shelving receive 37% more saves and 45% more daily shares compared to similar homes without this feature. ● Average national cost: $275 for professional installation (excluding the cost of shelves) 3. Painted Brick Consider giving it a fresh coat of paint if you have a brick exterior. A new color can completely transform the look of your home and increase its curb appeal. ● Zillow stats: Painted brick homes receive 31% more saves and 39% more daily shares than similar homes without fresh paint. ● Average national cost: $4,600–$7,600, including labor, material, and equipment 4. Vintage Charm Vintage elements can add a unique touch to your home. Think about incorporating vintage light fixtures, hardware, or even furniture. Not only does it add character, but it can also save you money compared to buying brand-new items. ● Zillow stats: Homes with vintage touches receive 28% more saves and 31% more shares per day on Zillow compared to similar homes without them. ● Average national cost: Vintage decor costs vary, but you can find great pieces for less than $100. Vintage crown molding, for example, costs between $2 and $50 per linear foot and can make ceilings appear higher while adding architectural interest. 5. Outdoor TV An outdoor entertainment area can significantly boost your home's value. One easy way to create this space is with an outdoor TV. Installations have risen 12.7% year over year, making it a popular addition for many homeowners. ● Zillow stats: Homes with an outdoor TV get 28% more saves and 26% more shares per day than those without. ● Average national cost: $175-$200 (this can increase depending on electrical capabilities and weatherproofing) 6. Picket Fence It may be part of "The American Dream" stereotype, but a white picket fence is a timeless feature that continues to boost curb appeal. Bonus: it provides a fenced-in yard for pets, a feature many buyers appreciate. ● Zillow stats: Homes with a picket fence receive 27% more saves and 31% more shares per day than yards without a fence. ● Average national cost: $7–$45 per linear foot 7. Pergola Adding a pergola can provide much-needed shade and a stylish gathering space as outdoor living becomes more important (and summers hotter and hotter). ● Zillow stats: Homes with a pergola get 20% more saves and 24% more shares per day than those without. ● Average national cost: $3,600 for a 10-by-10-foot pergola, including labor and materials 8. Fire Pit A fire pit can make your backyard a cozy retreat for summer nights. This DIY-friendly project can be completed at a low cost, providing an inviting outdoor feature. ● Zillow stats: Homes with fire pits see 19% more saves and 23% more shares per day than those without. ● Average national cost: Under $1,000 (depending on the kit purchased) 9. Outdoor Sound System A sound system is another way to start (or add to) an outdoor entertainment area. A little music can help set the tone for any gathering. If you bundle this project with an outdoor TV, it could help you save on labor costs, as they can be set up at the same time. ● Zillow stats: Homes with this feature see 18% more saves and 19% more shares per day. ● Average national cost: $500-$2,000 depending on the system 10. Smart Lighting Upgrade your home's lighting with smart technology. This modern feature can make your home more attractive and functional. ● Zillow stats: Homes with smart lighting get 18% more saves and 23% more shares per day than those without. ● Average national cost: $308 for installation These home renovation projects can make a significant impact on your home's appeal and market value. And the best part is, no reno is needed! "These features bring a wow factor to a home, or they serve as a signal that a home is up-to-date, well-maintained, or move-in ready," said Pendleton. "When it's time to sell, these features may ultimately help a home sell faster or for more money because there will likely be more competition for that home among buyers." Whether you're looking to sell soon or just want to enjoy some new features, these home renovation projects are worth considering. Remember, small changes can make a big difference!