Hope Leitner, Realtor®, CRS

Inflation devalues the purchasing power of money and the interest earned on savings is almost always less than inflation.   Tangible assets like your home consistently become more valuable over time.   In inflationary periods, a home is a good investment and a hedge against inflation. Borrowing money at fixed rates during times of inflation can be very advantageous...like buying a home.   The rate stays the same over the term of the mortgage and so does the payment instead of going up at the rate of inflation. In September 2022, rents rose by 7.2% according to NAR Chief Economist, Lawrence Yun and "rents are accelerating to higher figures with each passing month."   The annualized rate for this year is 10.6%.   Buying a home allows you to avoid rent increases while enjoying property appreciation. The housing shortage that is fueling the price appreciation, as well as increases in rent, is something that has existed for over ten years, yet...

Managing an asset worth hundreds of thousands of dollars is a responsibility that requires attention to details such as timely payment of the mortgage, home repairs and maintenance, upkeep, and oversight on financial issues including taxes, insurance, and other things. Depending on how long you've been a homeowner, you may have faced some of the decisions common to homeownership.   Occasionally, there could be something new that you haven't had to deal with in the past.   This is where having resource you can rely on becomes valuable. During the buying or selling process, it is natural to turn to your agent for information and advice but during those periods in between where do you go for counsel?   Sure, you can turn to the Internet but that may not be the best place to get advice for your situation. We encourage you to think of us as your "source of real estate information"; someone you're comfortable to ask a question and confident that you'l...