Hope Leitner, Realtor®, CRS

If you’ve been frustrated by the lack of homes for sale over the past few years, here’s some good news. You have more options, so it may finally be time to kick off your home search again. As Daryl Fairweather, Chief Economist at  Redfin , explains: “ Now is the best time to buy in the last two years.  Mortgage rates are comparable to what they were two years ago, and prices remain high. However,  there is significantly more inventory . . . ” The number of homes for sale has grown compared to last year, and even more options are on the way. While this is typical for the busy  spring season , here’s why this is so important right now. Homeowners are listing their houses at the highest pace we’ve seen in a while. New Listings Are on the Rise Over the past few months, the number of  new listings , or homes that have recently been put on the market for sale, has been steadily rising ( see graph below ): Basically, more people are putting their homes on the market ea...

  When you finally find the home you want to buy, it’s easy to get caught up in the excitement. You’ve toured the place, imagined your furniture in it, maybe even pictured your morning coffee on the porch. The last thing you want is to slow down the process with more steps or lose out to another buyer’s offer because they skipped their inspection. But here’s the thing. Buying a home is one of the biggest financial decisions you’ll ever make. And no matter how perfect that house seems, skipping a home inspection is a risk that could cost you a lot more than just time. What Exactly Is a Home Inspection? A home inspection gives you a detailed look at the home’s condition, usually after your offer’s accepted but before closing. While what’s covered varies by state, an inspector usually goes over the home’s major systems and structure, including things like the roof, foundation, plumbing, electrical, HVAC, and more. Why an Inspection Is Worth It Here’s a quick rundown of some of the big...

  You may have heard there are more homes   for sale   right now. And while that’ll vary depending on the market, it means that overall, things are starting to lean in a more   balanced   direction. As that happens, some sellers are a bit more open to compromise. Here’s what that means for you. You may be regaining some negotiating power. That can translate into savings, perks, or even better terms on your purchase – if you know what levers to pull during negotiation. Why an Agent Is an Essential Part of the Negotiation Process The complicated part is knowing what is and isn’t on the table. That’s where your agent comes in. According to the  National Association of Realtors  (NAR), besides finding the right home, the  top thing  buyers want from their agent is help negotiating the terms of the sale, followed by negotiating the price. Here’s why. Agents are skilled negotiators and are trained for moments like this. Since your agent is an exper...

  Since the supply of   homes for sale   is growing and   mortgage rates   are coming down, you may be thinking it’s finally   your moment   to jump into the market. To make sure you’re ready, you need to get pre-approved for a mortgage. That’s when a lender looks at your finances, including things like your W-2, tax returns,  credit score , and bank statements, to figure out what they’re willing to loan you. After that process, you’ll get a pre-approval letter to show what you can borrow. Here are two reasons why this is essential in today’s market. Pre-Approval Helps You Know Your Numbers While  home affordability  is finally starting to show signs of improving, it’s still tight. So, it’s a good idea to talk to a lender about your loan options and how today’s changing  mortgage rates  will impact your monthly payment. The pre-approval process is the perfect time for that. In addition to determining the maximum amount you can ...