Hope Leitner, Realtor®, CRS

  Is It Better To Rent or Buy a Home? You’ve probably asked yourself lately:  Is it even worth trying to buy a home right now? With high home prices and stubborn mortgage rates, renting can seem like the safer choice right now. Or maybe your  only  choice. That’s a very real feeling. And perhaps buying today isn’t your best move; it’s not for everyone right away. You should only  buy a home  when you’re ready and able to do it, and if the timing is right for you. But here’s the thing you need to know about renting. While it may feel like a safer bet today – and in some areas might even be less expensive month-to-month than owning – it can really cost you more over time. In fact, a recent  Bank of America  survey found that  70% of aspiring homeowners worry about what long-term renting means for their future.  And they’re not wrong. Owning a home may seem way out of reach, but if you make a plan now and steadily work toward it,  home...

  Why Buying Real Estate Is Still the Best Long-Term Investment Lately, it feels like every headline about the housing market comes with a side of doubt. Are prices going up or down? Are we headed for a crash? Will rates ever come down? And all the media noise may leave you wondering:  does it really make sense to buy a home right now? But here’s one thing that doesn’t get enough airtime. Real estate has always been about the long game. And when you look at the big picture, not just the latest clickbait headlines, it’s easy to see why so many people say it’s still the best investment you can make – even now. According to the just-released  annual report  from  Gallup , real estate has been voted the best long-term investment for the 12th year in a row.  That’s over a decade of beating out stocks, gold, and bonds as America’s top pick. And this isn’t new. Real estate usually claims the #1 title. But here’s what’s really interesting. This year’s results came ...

  The Rooms That Matter Most When You Sell Now that buyers have more options for their move, you need to be a bit more intentional about making sure your house looks its best when you sell. And proper staging can be a great way to do just that. What Is Home Staging? It’s not about making your house look super trendy or like it belongs in a magazine. It’s about helping it feel welcoming and move-in ready, so it's easy for buyers to picture themselves living there. It’s important to understand there’s a range when it comes to staging. It can include everything from simple tweaks to more extensive setups, depending on your needs and budget. But a little bit of time, effort, and money invested in this process can really make a difference when you sell – especially in today’s market. A  study  from the  National Association of Realtors  (NAR) shows staged homes sell faster and for more money than homes that aren't staged at all ( see below ): Which Rooms Matter Most?...

  Understanding Today’s Mortgage Rates: Is 3% Coming Back? A lot of buyers are pressing pause on their plans these days, holding out hope that mortgage rates will come down – maybe even back to the historic-low 3% from a few years ago. But here’s the thing:  those rates were never meant to last . They were a short-term response to a very specific moment in time. And as the market finds its footing again, it’s time to reset expectations. Back in 2020 and 2021, 3% mortgage rates gave buyers a serious boost: more affordability, more buying power, and more opportunity. But those rates were a result of emergency economic policies during the height of a global pandemic. Now that the economy is in a different place, we’re seeing mortgage rates in the high 6% to low 7% range. And while experts currently  project  a slight easing in the months ahead, most industry leaders agree: rates are not going back to 3%. Instead, many  forecasts  suggest mortgage rates will se...

  Home Projects That Add the Most Value Some Highlights Whether you’re planning to move soon or not, you want to be strategic about which  home projects  you take on. ​Because not all of them will be worth it. Before you decide what upgrades to tackle, talk to an agent who knows what’s in demand in your area and where you’re most likely to recoup  the costs . Let’s connect so you know which projects are actually worthwhile.​

  Thinking about an Adjustable-Rate Mortgage? Read This First. If you’ve been house hunting lately, you’ve probably felt the sting of today’s mortgage rates. And it’s because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that’s gaining popularity? Adjustable-rate mortgages (ARMs). If you remember the crash in 2008, this may bring up some concerns. But don’t worry. Today’s ARMs aren’t the same. Here’s why. Back then, some buyers were given loans they couldn’t afford after the rates adjusted. But now, lenders are more cautious, and they evaluate whether you could still afford the loan if your rate increases. So, don’t assume the return of ARMs means another crash. Right now, it just shows some buyers are looking for creative solutions when affordability is tough.  You can see the recent trend in this  data  from the  Mortgage Bankers Association  (MBA). More peo...

  What Buyers Need To Know About Homeowners Association Fees When buying a home, you’re probably thinking about mortgage rates, home prices, your  down payment , and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live. A homeowners association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing what they cover and whether the benefits outweigh the costs for you. The Benefits of Having an HOA Think about this. If you’ve fallen in love with a home because of how beautiful the community is – maybe it’s the landscaping, the well-maintained streets, or the overall curb appeal – there’s a good chance the HOA is one of the re...

  Common Real Estate Terms Explained If you're a first-time homebuyer, chances are you'll come across some terms you’re not familiar with. And that can be overwhelming, especially while going through one of the biggest purchases of your life.  The good news is   you don’t need to be an expert on real estate jargon.  That’s your agent’s job. But getting to know these basic terms will help you feel a lot more confident throughout the process. Terms Every Homebuyer Should Know Once you’re familiar with this terminology, you’ll have a better understanding of important details – from contracts to negotiations. So, when those big conversations happen, you’ll feel informed, in control, and able to make the best decision for your unique situation. As  Redfin  puts it: “Having a basic understanding of important real estate concepts before you start the homebuying process will give you peace of mind now and could save you a fortune in the future.” Here’s a breakdown ...

Applying for a Loan? Review Your Credit Report First When considering applying for a loan, whether it's for a new home, car, or personal expenses, one of the most critical steps you can take is reviewing your credit report beforehand. Understanding your credit standing not only prepares you for the loan application process but also empowers you to make informed financial decisions. Understanding the Importance of Your Credit Report Your credit report is a comprehensive record of your credit history, including your borrowing and repayment activities. Lenders use this report to assess your creditworthiness, determining the risk involved in lending you money. A favorable credit report can lead to better loan terms, lower interest rates, and a smoother approval process. Steps to Review Your Credit Report Obtain Your Credit Report: You're entitled to a free credit report annually from each of the three major credit bureaus—Equifax, Experian, and TransUnion. Visit AnnualCredit...

  High vs. Low Interest Rates: Pros & Cons Explained 📈 High vs. Low Interest Rates: A Comprehensive Overview 🔺 High Interest Rates Pros: Encourages Saving: Higher interest rates offer better returns on savings accounts and fixed-income investments, incentivizing individuals to save more. Controls Inflation: By making borrowing more expensive, high interest rates can help reduce spending and slow down inflation. Cons: Increased Borrowing Costs: Loans for homes, cars, and businesses become more expensive, potentially slowing economic growth.   Reduced Consumer Spending: Higher interest rates can lead to decreased consumer spending, affecting business revenues and potentially leading to economic downturns. 🔻 Low Interest Rates Pros: Stimulates Economic Growth: Lower borrowing costs encourage individuals and businesses to take loans, leading to increased spending and investment. Boosts Asset Prices: Lower rates can lead to higher asset prices, be...

The Right Way to Reduce the Price of Your Home

  You Could Use Some of Your Equity To Give Your Children the Gift of Home If you’re a homeowner, chances are you’ve built up a lot of wealth – just by living in your house and watching its value grow over time. And that equity? It’s something that could help change your child’s life. Since affordability is still a challenge, a lot of first-time buyers are struggling to buy a home in today’s market. Even if they have a stable job and a solid plan, buying can still feel out of reach. But that’s where your equity could make all the difference. To give you an idea, the average homeowner with a mortgage has  $311,000  worth of equity, according to  Cotality  (formerly  CoreLogic ). That’s significant.  And some parents are using a portion of their equity to help their children become homeowners, too. According to  Bank of America ,  49%  of buyers between 18 and 26 got money from their parents to use toward their down payment ( see chart bel...

  What Buyers Need To Know About Homeowners Association Fees When buying a home, you’re probably thinking about mortgage rates, home prices, your   down payment , and maybe even your closing costs. But you may not be thinking about homeowners association (HOA) fees. While you won’t necessarily have these, you should know it’s a possibility, depending on where you decide to live. A homeowners association is basically an organization that oversees a housing community (including shared spaces) and sets and enforces rules for things like upkeep. Some buyers love the perks that come with an HOA, others may see the fees as an extra expense. The key is knowing what they cover and whether the benefits outweigh the costs for you. The Benefits of Having an HOA Think about this. If you’ve fallen in love with a home because of how beautiful the community is – maybe it’s the landscaping, the well-maintained streets, or the overall curb appeal – there’s a good chance the HOA is one of the r...