Hope Leitner, Realtor®, CRS

  What’s Your House Worth Now? The Answer May Surprise You Let’s talk about something you might not check nearly as often as your bank account – and that’s how much your home is worth. But when it comes to your financial situation, it’s an important thing to remember. When’s the last time you had a professional show you the value of your home? Think about it. For most people, your house is probably the biggest asset you have. And if you’ve owned your home for a few years (or longer), chances are it’s been quietly building wealth for you in the background. And honestly? You might be surprised by just how much.  What Is Home Equity? This wealth you may not even realize you have comes in the form of home equity. Home equity is the difference between what your house is worth and what you still owe on your mortgage. It grows over time as home values rise and as you pay down your mortgage each month. Here’s an example to help you really understand how this works. Let’s say your hous...

  Why Some Homes Sell Faster Than Others As you think ahead to your own move, you may have noticed some houses sell within days, while others linger. But why is that? As   Redfin   says: “. . . today’s housing market has been topsy-turvy since the pandemic. Low inventory (though rising) and high prices have created a strange mix:   Some homes are flying off the market, while others sit for weeks .” That may leave you wondering what you should expect when you sell. Let’s break it down and give you some actionable tips on how to make sure your house is one that sells quickly. Homes Are Still Selling Faster Than Pre-Pandemic The first thing you should know is that, in most markets, things have slowed down a little bit. While you may remember how quickly homes sold a few years ago, that’s not what you should expect today. Now that inventory has grown,   according   to   Realtor.com,   homes are taking a bit longer to sell in today’s market ( see graph...

  Stocks May Be Volatile, but Home Values Aren’t With all the uncertainty in the economy, the stock market has been bouncing around more than usual. And if you’ve been watching your 401(k) or investments lately, chances are you’ve felt that pit in your stomach. One day it’s up. The next day, it’s not. And that may make you feel a little worried about your finances. But here’s the thing you need to remember if you’re a homeowner. According to   Investopedia : “ Traditionally, stocks have been far more volatile than real estate.   That's not to say that real estate prices aren't ever volatile—the years around the 2007 to 2008 financial crisis are just one memorable example—but stocks are more prone to large value swings.” While your stocks or 401(k) might see a lot of highs and lows, home values are much less volatile. A Drop in the Stock Market Doesn’t Mean a Crash in Home Prices Take a look at the graph below. It  shows  what happened to home prices ( the blue b...

Your Home Equity Could Make Moving Possible   Some Highlights Thanks to recent home price appreciation,  homeowners  have near record amounts of  equity  – and you may too. On average, homeowners have  $311K  worth of equity. Once you sell, you can use it to fund your down payment on your next home or maybe even to buy a smaller house in cash. If you want to find out how much equity you have, let's connect. Because it may make a move a lot more feasible than you'd think.

  Saving up to buy a home can feel a little intimidating, especially right now. And for many first-time buyers, the idea that you have to put 20% down can feel like a major roadblock. But that’s actually a common misconception. Here’s the truth. Do You Really Have To Put 20% Down When You Buy a Home? Unless your specific loan type or lender requires it, odds are you won’t have to put 20% down. There are loan options out there designed to help first-time buyers like you get in the door with a much smaller down payment. For example,  FHA  loans offer down payments as low as  3.5% , while  VA  and  USDA loans  have no down payment requirements for qualified applicants, like Veterans. So, while putting down more money does have its  benefits , it’s not essential. As  The Mortgage Reports  says: “. . .  many homebuyers are able to secure a home with as little as 3% or even no down payment at all  . . . the 20 percent down rule ...

  Lately, it feels like a lot of people have been asking the same question:  “Is the housing market about to crash?” If you’ve been scrolling through social media or watching the news, you might have seen some pretty scary headlines yourself. That’s why it’s no surprise that, according to data from  Clever Real Estate ,  70% of Americans are worried about a housing crash in 2025. But before you hit pause on your plans to buy or sell a home, take a deep breath. The truth is: the housing market isn’t about to crash – it’s just shifting. And that shift actually works in your favor. Today’s Inventory Keeps the Housing Market from Crashing Mark Fleming, Chief Economist at  First American , says: “ There’s just generally not enough supply.  There are more people than housing inventory. It’s Econ 101.” Think about it. If there’s a shortage of something – like tickets to a popular concert – prices go up. That’s what’s been happening with homes. We still have a shor...