Should You Sell Your House As-Is or Make Repairs?

by Laura Benson

A recent study by the National Association of Realtors (NAR) reveals that most sellers (61%) complete at least minor repairs before selling their homes. However, life doesn’t always allow for those updates, which is why 39% of sellers opt to sell their houses as-is instead (see chart below):

a pie chart with text on it

If you’re feeling overwhelmed because you lack the time, budget, or resources for repairs, you might also be considering selling your home as-is. Before you make that decision, here’s what you need to know.

What Does Selling As-Is Mean?

Selling a home as-is means you won’t make any repairs before the sale or negotiate fixes after the buyer’s inspection. Essentially, what buyers see is what they get.

For sellers in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, this can be a relief if you’re tight on time or money. But selling as-is comes with trade-offs. Here’s a quick breakdown of the pros and cons:

a screenshot of a blue and white screen

While updated homes often sell for more because buyers pay a premium for move-in-ready properties, selling your house as-is could lead to:

Fewer interested buyers
A longer time on the market
A potentially lower sale price

That doesn’t mean your house won’t sell—it just might sell for less than it would if repairs or updates were made.

Buyer Insights: Good News for Sellers

Today’s market presents opportunities for sellers, even with as-is properties. According to a recent survey, 56% of buyers are open to purchasing a home that needs work. With affordability being a challenge and housing inventory still below normal levels, many buyers are willing to take on renovation projects themselves.

How a Real Estate Agent Can Help

Whether you’re selling as-is or making updates, a local real estate expert is your best ally. An experienced agent can:

Provide insights on comparable homes for sale in Greater Cincinnati, Northern Kentucky, and Southeast Indiana.
Help you evaluate the potential return on repairs and updates.
Guide you in setting a competitive price, no matter your selling strategy.
Highlight your home’s best features—like location, size, or unique potential—to attract buyers.

Bottom Line

Selling a house as-is is a viable option, especially if you’re short on time or resources. However, it’s important to weigh the potential trade-offs carefully. If you’re thinking, How do I sell my house in today’s market?, connect with a local real estate professional who can guide you in making the best decision for your move.

For homes for sale or to sell your house in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, working with an expert ensures you get the best outcome.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Retirement • Sellers • Uncategorized • VA Loan • December 8, 2024

Investors Are Not Buying Up All the Homes

by Laura Benson

Some Highlights

There’s a misconception Wall Street is buying all the homes on the market. But data proves that isn’t true.
Experts agree the share of homes bought by investors is declining – and most are smaller investors, like your neighbor who owns a second home, not Wall Street.
No matter what you’ve heard, the majority of homes are still being purchased by everyday homebuyers like you – not big investors. Connect with an agent if you have questions.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Sellers • December 8, 2024

Make Your House the Top Thing on Every Buyer’s Wish List This Season

by Laura Benson

Sell Your House This Holiday Season: Why Now Might Be the Perfect Time

With the holidays approaching, homeowners in Greater Cincinnati, Northern Kentucky, and Southeast Indiana may be wondering whether to sell their homes now or wait until spring. Some might even consider pulling their house off the market altogether. But is that the best decision? The truth is, the holiday season can be a prime time to list your property.

Here’s why: Many buyers are actively searching for homes for sale right now, aiming to move in before the holidays. Your house could be exactly what they’re looking for! As Redfin explains:

“. . . there is typically less inventory in the housing market this time of year, allowing your home to easily stand out among the available inventory. And though there are technically fewer buyers overall, the homebuyers that are looking are far more serious about finding a home within a specific timeframe. . . selling your home during the holidays might be your best present this year.”

Here are four compelling reasons to sell your house during the holidays:

1. Serious Buyers Are Looking Right Now

The holidays don’t stop motivated buyers. While some may postpone their search, others need to move now, and they’re ready to make serious offers. Investopedia explains:

“Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

2. You Have an Inventory Advantage

Although more homes are coming onto the market, inventory remains low. For sellers in Greater Cincinnati, Northern Kentucky, and Southeast Indiana, this means less competition. By pricing your home correctly with the help of a trusted real estate agent, you can stand out and attract eager buyers searching for homes for sale in the area.

3. Flexible Showings Work in Your Favor

Selling during the holidays doesn’t have to disrupt your schedule. You can control when showings happen, making it easier to balance the busy season. Many buyers are also more accommodating with their schedules, as they often have extra time off during the holidays.

4. Holiday Décor Can Highlight Your Home

Tasteful holiday decorations can create a cozy, inviting atmosphere, helping buyers envision their own celebrations in the space. Keep the décor simple and elegant to enhance your home’s natural charm. As experts suggest:

“If you’re selling around a holiday and have decorations up, make sure they accent—not overpower—a room. Less is more.”

Bottom Line

If you’ve been thinking, Should I sell my house now or wait?, consider this: the holiday season might be your ideal time to shine in the real estate market. With serious buyers, less competition, and the opportunity to showcase your home at its best, it could be the perfect moment to list your house in Greater Cincinnati, Northern Kentucky, or Southeast Indiana.

Connect with a local real estate agent today to explore your options and make this holiday season your most successful one yet!

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Retirement • Sellers • November 27, 2024

Control the Controllables If You’re Worried About Mortgage Rates

by Laura Benson

Homes for Sale and Real Estate Insights: Navigating Mortgage Rates in Greater Cincinnati, Northern Kentucky, and Southeast Indiana

If you’re considering buying or selling a home in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, chances are you’ve been hearing a lot about mortgage rates. Like many, you’re probably hoping they’ll start coming down soon. The recent Federal Funds Rate cut by the Federal Reserve (The Fed) in early November may have sparked hope for an immediate decline. However, it’s important to understand that while the Fed influences the broader economy, it doesn’t directly set mortgage rates.

What Really Affects Mortgage Rates?
Mortgage rates are influenced by a combination of factors—economic trends, the job market, inflation, and even geopolitical shifts. While the Fed’s actions may pave the way for lower rates over time, it’s likely to be a gradual and sometimes unpredictable process.

So, what’s the best strategy? Instead of waiting for rates to drop, focus on what you can control. Here are three key areas to prioritize if you’re looking to buy a home or sell your house in today’s market.

1. Your Credit Score

A strong credit score is crucial when applying for a mortgage. Even a small improvement in your score can significantly impact your monthly payment. As Bankrate explains:

“Your credit score is one of the most important factors lenders consider… Typically, the higher your score, the lower the interest rates and better terms you’ll qualify for.”

In today’s market, maintaining a good credit score can help you secure a better mortgage rate. Connect with a trusted loan officer to review your credit score and explore strategies to boost it before buying a home.

2. Your Loan Type

Mortgage loans come in various forms, each with unique terms and qualifications. The Consumer Financial Protection Bureau (CFPB) notes:

“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Rates can be significantly different depending on what loan type you choose.”

If you’re exploring homes for sale, work closely with a knowledgeable real estate agent and lender to understand your options. Whether you’re a first-time buyer or looking to sell your house, choosing the right loan can make a big difference in your financial outcome.

3. Your Loan Term

The length of your loan term also affects your interest rate and monthly payments. Freddie Mac explains:

“Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan.”

Most lenders offer terms of 15, 20, or 30 years. Discuss with your lender which term best fits your financial goals, whether you’re buying a new home or planning to sell your house and move into something different.

Bottom Line

While mortgage rates may fluctuate, the key to success is focusing on what you can control. Whether you’re searching for homes for sale or preparing to sell your house, partnering with a trusted real estate professional and lender in Greater Cincinnati, Northern Kentucky, or Southeast Indiana can make all the difference.

Take proactive steps today to set yourself up for success in the real estate market—no matter where mortgage rates may go.

Hire a Professional! • Homebuyers • Money Talk • November 27, 2024

How Co-Buying a Home Helps with Affordability Today

by Laura Benson

Co-Buying a Home: A Smart Strategy for Today’s Real Estate Market

Buying a home in today’s real estate market can feel challenging, especially with rising home prices and mortgage rates putting pressure on your budget. If you’re feeling stuck, co-buying might be the solution to help you achieve homeownership. Freddie Mac explains:

“If you are an aspiring homeowner, buying a home with your family or friends could be an option.”

Let’s explore why co-buying is gaining popularity in Greater Cincinnati, Northern Kentucky, and Southeast Indiana and see if it could work for you.

What Is Co-Buying?

Co-buying involves purchasing a home with someone, such as a friend, sibling, or group of people. This approach is becoming increasingly common as many navigate the challenges of high home prices and mortgage rates.

A survey by JW Surety Bonds found:

Nearly 15% of Americans have already co-purchased a home.
Another 48% would consider co-buying.

Why Consider Co-Buying?

The survey highlighted several benefits of co-buying a home (see graph below):

Sharing Costs (67%)
Co-buying allows you to split expenses such as down payments, monthly mortgage payments, and maintenance costs. This can make owning a home more financially feasible.
Affording a Better Home (56%)
By pooling resources, co-buyers can afford larger, higher-quality homes in desirable areas of Greater Cincinnati, Northern Kentucky, or Southeast Indiana. This could mean extra bedrooms, larger yards, or a prime neighborhood location.
Investment Opportunity (54%)
Co-buying can also be an investment strategy. For example, purchasing a home together and renting it out could generate passive income.
Sharing Responsibilities (48%)
Homeownership involves ongoing responsibilities like maintenance and upkeep. Co-buyers can divide these tasks, reducing the workload for everyone.

Key Considerations Before Co-Buying

While co-buying offers benefits, it also requires careful planning. Rocket Mortgage cautions:

“Buying a house with a friend or multiple friends might be a great way for you to achieve homeownership, but it’s not a decision you should make lightly.”

Before deciding to co-buy, discuss:

How costs will be split.
Who will handle various responsibilities.
Plans for selling the home or one party’s share in the future.

Consulting with a real estate expert in homes for sale can help you navigate these discussions and make informed decisions.

Bottom Line

If you’re wondering, “How can I buy a home or sell my house in today’s market?”, co-buying might be the answer. It’s a viable option for navigating today’s housing market in Greater Cincinnati, Northern Kentucky, and Southeast Indiana.

Work with a trusted real estate professional to explore co-buying opportunities or learn how to prepare your home for sale. Connect with a local agent today to discuss your options!

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Retirement • Sellers • VA Loan • November 25, 2024

Why Today’s Mortgage Debt Isn’t a Sign of a Housing Market Crash

by Laura Benson

Why We’re Not Heading Toward a Foreclosure Crisis

The real estate market in Greater Cincinnati, Northern Kentucky, and Southeast Indiana is thriving, with strong fundamentals that set it apart from the 2008 housing crisis. One major factor is the unprecedented level of equity homeowners have today. Unlike the last housing bubble, when many owed more on their homes than they were worth, today’s homeowners enjoy significantly more equity than debt.

Equity Levels Are a Game-Changer

Even though mortgage debt is at an all-time high, it’s not a concern. As housing analyst Bill McBride of Calculated Risk explains:

“With the recent house price increases, some people are worried about a new housing bubble – but mortgage debt isn’t a concern . . .”

Let’s dive deeper to see why today’s market is different and how this affects homes for sale and homeowners looking to sell their house.

More Equity, Less Foreclosure Risk

Data from the St. Louis Fed shows that homeowner equity today is nearly triple the total mortgage debt. (See graph below.)

a graph of a graph showing the rise and fall of mortgages

This high equity reduces foreclosure risks. If a homeowner struggles to make payments, they often have the option to sell their house and still come out ahead, thanks to their accumulated equity. This is a stark contrast to 2008, when many homeowners were underwater with no options.

Even if home values were to dip, most homeowners would remain in a strong position due to their equity cushion.

Delinquency Rates Are Historically Low

Mortgage delinquency rates are another sign of market health. According to the NY Fed, mortgage payments that are over 90 days late remain near historic lows.

a graph showing a line going down

This trend is supported by programs that assist homeowners during financial hardships. Marina Walsh, VP of Industry Analysis at the Mortgage Bankers Association, emphasizes:

“. . . servicers are helping at-risk homeowners avoid foreclosures through loan workout options that can mitigate temporary distress.”

Stable Employment Supports Housing Market

Low unemployment is another critical factor keeping the real estate market in Greater Cincinnati, Northern Kentucky, and Southeast Indiana stable. More people with steady jobs mean fewer missed mortgage payments. Archana Pradhan, Principal Economist at CoreLogic, explains:

“Low unemployment numbers have helped reduce the overall delinquency rate . . .”

a graph of employment and financial crisis

During the last housing crisis, high unemployment drove a wave of foreclosures. Today, low unemployment and affordable, low-interest mortgages are helping homeowners stay current on payments.

Bottom Line

The housing market isn’t heading toward a foreclosure crisis. With strong equity, historically low delinquency rates, and a stable employment environment, today’s market is fundamentally different from 2008.

If you’re thinking of selling your house or exploring homes for sale in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, now is the time. Connect with a local real estate expert to discuss your options and stay ahead of the market.

Hire a Professional! • Luxury Homes • Money Talk • Retirement • Sellers • November 22, 2024

How To Get Your House Ready To Sell in 2025

by Laura Benson

Some Highlights

If you’re planning to list your house in 2025, it’s already time to start working on any repairs. But where do you start?
Your local agent will be able to help you prioritize projects that will help you get the best return on your investment and appeal to what today’s buyers really want.
If your goal is to sell your house next year, connect with an agent so you know what to start working on now.

Hire a Professional! • Homebuyers • Money Talk • November 21, 2024

Don’t Miss Out on the Growing Number of Down Payment Assistance Programs

by Laura Benson

Discover Your Path to Homeownership in Greater Cincinnati, Northern Kentucky, and Southeast Indiana

With rising home prices and fluctuating mortgage rates, it’s crucial to explore every resource available to make buying a home possible. One valuable resource to consider is the growing number of down payment assistance (DPA) programs designed to help buyers like you.

Take a look at the graph below, highlighting the surge in new programs added in the past year, based on data from Down Payment Resource:

More Programs, More Opportunities for You
This growth in DPA programs means more opportunities for homebuyers in Greater Cincinnati, Northern Kentucky, and Southeast Indiana. With more options available, there’s a higher chance you’ll find a program that aligns with your homeownership goals.

These programs can offer significant financial support. As Rob Chrane, Founder and CEO of Down Payment Resource, explains:

“We are pleased to see a growing number of these programs, and think they are becoming a targeted way to help first-time and first-generation homebuyers struggling to save for a down payment get into a home they can afford. Our data shows the average DPA benefit is roughly $17,000. That can be a nice jump-start for saving for a down payment and other costs of homeownership.”

Imagine qualifying for $17,000 toward your down payment. That level of assistance could make a huge difference, especially if you’re buying your first home in this competitive real estate market.

Opportunities Beyond First-Time Buyers
The expanded DPA options don’t just benefit first-time and first-generation buyers. Many of the new programs are designed to support affordable housing initiatives, including manufactured and multi-family homes. This widens the pool of eligible homebuyers and home types, offering even more pathways to success.

Find the Right Program with Expert Guidance
Navigating these opportunities can feel overwhelming, but you don’t have to do it alone. Your real estate agent and loan officer are your best resources for finding the right DPA programs. As noted by The Mortgage Reports:

“The best way to find down payment assistance programs for which you qualify is to speak with your loan officer or broker. They should know about local grants and loan programs that can help you out.”

When selling or buying a home in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, partnering with an experienced real estate professional ensures you’ll access the resources and guidance you need.

Bottom Line
If you’re looking for homes for sale or thinking, “How can I sell my house?” in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, now is the time to explore the benefits of down payment assistance programs. Connect with a trusted real estate expert to uncover the opportunities available to help you achieve your goals. Whether you’re a first-time buyer or looking to transition, these programs could be the key to unlocking your next chapter.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Retirement • Sellers • VA Loan • November 21, 2024

What’s Behind Today’s Mortgage Rate Volatility?

by Laura Benson

What’s Behind the Roller Coaster of Mortgage Rates? Insights for Greater Cincinnati, Northern Kentucky, and Southeast Indiana

If you’ve been following mortgage rates recently, it probably feels like a roller coaster ride. One day rates are climbing, and the next they dip slightly. So, what’s causing all this movement? Let’s explore some major factors driving these fluctuations and how they could impact your decisions when buying or selling a home in Greater Cincinnati, Northern Kentucky, or Southeast Indiana.

Election Season and Mortgage Rate Volatility

One major driver of mortgage rate changes is the market’s reaction to political events, particularly elections. Uncertainty surrounding election outcomes and policies often impacts financial markets. The National Association of Home Builders (NAHB) explains:

“. . . the primary reason interest rates have been on the rise pertains to the uncertainty surrounding the presidential election. Although the election is now complete, there continue to be growing concerns over budget deficits.”

This uncertainty has led to fluctuations, with mortgage rates ticking upward as markets adjust. Other influences, such as international tensions, supply chain challenges, and trade policies, also sway investor sentiment. When uncertainty looms, investors often turn to safer assets like bonds, indirectly affecting mortgage rates.

The Federal Reserve and Economic Indicators

Inflation and employment levels are two key economic factors impacting mortgage rates. The Federal Reserve (Fed) has been actively working to control inflation while monitoring employment. When inflation moderates and the job market stabilizes, the Fed may reduce the Federal Funds Rate, which indirectly influences mortgage rates.

For example, during the Fed’s November 6-7 meeting, they implemented another rate cut, leading to a slight dip in mortgage rates. While the Fed doesn’t directly set mortgage rates, their policies heavily influence market trends.

Looking Ahead: What This Means for You

As we move forward, expect mortgage rates to remain responsive to the Fed’s policies and broader economic developments. Political transitions and ongoing economic uncertainty add an unpredictable element to the equation. As The Mortgage Reports notes:

“Today’s economic indicators come with mixed pressures on mortgage rates, and we’re likely to be in for a good amount of volatility as markets adjust and respond to the election . . .”

For homeowners in Greater Cincinnati, Northern Kentucky, and Southeast Indiana, this could mean opportunities to refinance, sell your house, or explore homes for sale in a competitive real estate market.

Why You Need a Trusted Real Estate Professional

Navigating mortgage rate volatility and the housing market can feel overwhelming. That’s where having an experienced team by your side makes all the difference. Whether you’re asking, “How do I sell my house?” or exploring homes for sale in the area, partnering with real estate professionals ensures you make informed decisions.

Bottom Line
Mortgage rate fluctuations will continue to reflect economic shifts and political developments. If you’re buying or selling real estate in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, now is the time to lean on experienced professionals. A trusted real estate agent and mortgage expert can guide you through the complexities, helping you achieve your goals in today’s dynamic market.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • Sellers • November 21, 2024

Is Wall Street Really Buying All the Homes?

by Laura Benson

Facing Challenges in the Real Estate Market? Here’s the Truth About Investors and Buying a Home

Let’s be real – navigating the real estate market right now in Greater Cincinnati, Northern Kentucky, and Southeast Indiana can feel overwhelming. Whether you’re searching for homes for sale, attending open houses, or asking, “How can I sell my house quickly?” you’ve likely encountered the narrative that big Wall Street investors are gobbling up every available property.

But here’s the reality: that’s largely a myth. According to Redfin, investors represent only a small fraction of the market. The vast majority of homes are purchased by people like you.

Who’s Really Buying Homes?

Most homes—five out of every six—are bought by everyday buyers, not corporate giants. And here’s another fact that might surprise you:

Most Investors Are Small, Local Owners

While mega-corporations grab headlines, the majority of investors are small-scale, mom-and-pop owners with fewer than 10 properties. Think of your neighbor renting out a second property or someone who owns a vacation home. According to CoreLogic, only about 1% of properties are held by large, corporate investors.

Investor Activity Is Declining

Investor purchases are also on the decline. CoreLogic reports:

“Investors made 80,000 purchases in June 2024, compared to 112,000 in June 2023—a nearly 50% drop from the peak in June 2021.”

This downward trend is expected to continue into 2025, meaning fewer investors are competing in the market for homes for sale.

What This Means for Buyers and Sellers

If you’re feeling discouraged about buying your dream home or wondering, “Can I sell my house in this market?” don’t let investor activity be a source of stress. The reality is that real estate opportunities are still abundant in Greater Cincinnati, Northern Kentucky, and Southeast Indiana.

Let’s Talk Real Estate

Ready to dive into the market or need help selling your home? Connect with a trusted local real estate agent who knows the ins and outs of your area. Whether you’re looking to buy a home, explore options to sell your house, or understand the latest trends, we’re here to guide you every step of the way.

Your next real estate move starts here! 🏡