How Real Estate Agents Take the Fear Out of Moving

by Laura Benson

Feeling uncertain or even fearful about moving right now with so much happening in the world? Moving shouldn’t be scary; it should be an exciting new chapter! To turn that fear into confidence, work with a seasoned real estate professional.

Real estate agents are more than transaction facilitators—they’re trusted guides who help you navigate the housing market’s complexities with ease and assurance. A great agent transforms what can feel overwhelming into a smooth, enjoyable experience.

In fact, a recent Bright MLS survey revealed that people who work with agents report less stress and more peace of mind. Here are a few reasons why partnering with a pro can make all the difference, whether you’re looking at homes for sale in Greater Cincinnati, Northern Kentucky, Southeast Indiana, or are preparing to sell your own home.

a blue pie chart with white text

**1. Explaining the Current Market**
You may see alarming headlines about a potential market crash or falling prices, and it’s easy to get caught up in the noise. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, explains, “In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

An agent offers clarity, debunking the fear-driven headlines with a grounded understanding of local trends, home values, and inventory levels. This expertise helps buyers and sellers in Greater Cincinnati, Northern Kentucky, and Southeast Indiana make confident decisions.

**2. Walking You Through the Process Step-by-Step**
Is this your first experience buying or selling a home? Or has it been a while? Either way, your agent will guide you through each step, from the initial conversation to closing day. As NerdWallet states, “If it’s your first time buying—or selling—you’re likely to come across terms you don’t recognize.” Your agent will explain every term and process in a way that makes sense, giving you a seamless experience as you look at homes for sale or plan to sell your house.

**3. Advocating for Your Best Interests**
Negotiations can be intimidating, especially if you’re not familiar with the process. Thankfully, your agent is a trained negotiator dedicated to achieving your goals. They’ll secure the best terms for you, whether it’s finding a great deal as a buyer or negotiating a higher price as a seller in the competitive Greater Cincinnati, Northern Kentucky, or Southeast Indiana markets.

**4. Solving Unexpected Problems Quickly**
If the unexpected arises, know that your agent has it covered. Real estate agents are skilled problem-solvers, anticipating potential issues and proactively addressing them to keep the transaction on track. They’re equipped with the experience and resources to resolve any hurdles, so you don’t have to worry about disruptions.

**Bottom Line**
Don’t let fear or uncertainty keep you from reaching your goals in real estate. With an expert agent by your side, you can confidently explore homes for sale or prepare to sell your house, knowing your best interests are always protected.

Hire a Professional! • Homebuyers • Money Talk • November 1, 2024

Avoid These Top Homebuyer Mistakes in Today’s Market

by Laura Benson

Avoiding costly mistakes in your home-buying journey is essential, especially with so much at stake. Here’s a quick look at the most common mistakes buyers are making in today’s Greater Cincinnati, Northern Kentucky, and Southeast Indiana markets—and how an experienced agent can help you sidestep each one.

**Trying to Time the Market**
In hopes of getting the best deal, some buyers wait for home prices or mortgage rates to drop, aiming to time the market. This strategy can be risky due to unpredictable factors influencing the housing market. Elijah de la Campa, Senior Economist at Redfin, advises:

> “My advice for buyers is don’t try to time the market. There are a lot of swing factors, like the upcoming jobs report and the presidential election, that could cause the housing market to take unexpected twists and turns. If you find a house you love and can afford to buy it, now’s not a bad time.”

A knowledgeable real estate agent can guide you through this uncertainty, helping you focus on what matters most for your home-buying goals.

**Buying More House Than You Can Afford**
It’s easy to feel tempted to stretch your budget, but buying a home should align with your financial comfort. Rising costs like property taxes and insurance mean it’s important not to overextend. Bankrate offers wise advice:

> “Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations.”

**Missing Out on Assistance Programs**
Saving for closing costs, down payments, and other upfront expenses takes planning. Many buyers overlook assistance programs that could help ease these costs, especially first-time buyers. Realtor.com highlights that nearly 80% of first-time buyers qualify for down payment assistance, but only 13% take advantage of these opportunities. Consult a lender and your agent to explore available programs.

**Not Leaning on Expert Guidance**
This may be the most important point of all. Working with a seasoned real estate agent helps you avoid pitfalls and make confident, informed decisions as you explore homes for sale in Greater Cincinnati, Northern Kentucky, or Southeast Indiana.

**Bottom Line**
With the right real estate agent, you’ll have a pro on your side to help you avoid costly mistakes and make your home-buying journey as smooth as possible. Whether you’re looking to buy or sell a house, connecting with a trusted real estate expert in your area will help you navigate each step with confidence.

Hire a Professional! • Luxury Homes • Money Talk • Sellers • October 29, 2024

Why Your House Will Shine in Today’s Market

by Laura Benson

Even though more homes are for sale compared to last year, there are still more buyers than homes available across Greater Cincinnati, Northern Kentucky, and Southeast Indiana. This means that if you’re considering selling, your house can truly stand out in today’s competitive real estate market.

Here are several key reasons why homes for sale are in such high demand, and understanding these factors can help you see why it’s an excellent time to sell your house.

### What’s Causing the Shortage?

1. **Underproduction of Homes**: The real estate market has struggled to keep pace with demand. According to Zillow, “In 2022, 1.4 million homes were built — the best year for home construction since the Great Recession. However, the number of U.S. families grew by 1.8 million that year, meaning the country didn’t build enough to meet the demand, let alone reduce the long-standing deficit affecting housing affordability.”

2. **Rising Costs**: Pandemic-related disruptions like supply chain issues, labor shortages, and increased material costs have made it challenging and expensive to build new homes, limiting the growth of available homes for sale.

3. **Regional Imbalances**: Highly desirable areas like Greater Cincinnati and Northern Kentucky are seeing an influx of people, outpacing new home construction and permits. This regional imbalance results in a tighter real estate market and rising prices.

### How Big Is the Problem?

Estimates from Real Estate News reveal a U.S. housing shortfall of roughly 3.3 million homes. Additionally, John Burns Research and Consulting projects that over the next decade, 18 million new homes will be needed to meet future demand, including new households and replacements for aging homes.

a graph of blue squares

So, while more homes are on the market compared to last year, the inventory remains tight, making this an advantageous time if you’re looking to sell your house.

### Key Takeaways for Sellers

With the shortage of homes for sale, your property is likely to draw significant buyer interest. The inventory deficit will take years to recover, meaning buyers will continue competing for available homes, driving up demand and prices.

Working with a knowledgeable real estate agent who understands the local trends in Greater Cincinnati, Northern Kentucky, and Southeast Indiana can help you price your home right and attract serious buyers.

### Bottom Line

While there are more homes for sale than this time last year, the demand still far outstrips supply. If you’re ready to sell, the current market conditions work in your favor. Reach out to a trusted real estate agent to capitalize on this opportunity and make the most of today’s real estate market.

Hire a Professional! • Homebuyers • Money Talk • October 25, 2024

Debunking Scary Myths About Buying a Home

by Laura Benson

Some Highlights

There are a number of scary myths about homebuying in today’s market. Here’s what you need to know.
Prices are not expected to crash, it is possible to buy even with student loan debt, and there are programs that can help you save for a down payment.
Don’t let scary myths delay your homebuying plans. Connect with an agent so you have a pro to help you separate the facts from your fears.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • New Build • Retirement • Sellers • October 24, 2024

Why Today’s Foreclosure Numbers Won’t Trigger a Crash

by Laura Benson

With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many homeowners and potential buyers are concerned that high prices and tighter budgets could lead to more people falling behind on their mortgage payments, causing a wave of foreclosures. For those looking to buy homes for sale or wondering, “Should I sell my house?”, this concern is understandable.

Before jumping to conclusions about a potential housing market crash in Greater Cincinnati, Northern Kentucky, or Southeast Indiana, let’s take a closer look at what’s actually happening. The good news is: the latest foreclosure data shows there’s no major wave on the horizon, and the real estate market remains stable.

### How Today’s Market Is Different from 2008

To ease any fears, it’s essential to understand the bigger picture. The graph below, based on research from ATTOM (a leading property data provider), shows that the number of homeowners starting the foreclosure process is nowhere near what we saw in the aftermath of the 2008 housing crisis. Back then, the real estate market experienced a significant spike in foreclosures, but today, the numbers are much lower—and even show a slight decline in recent reports. What’s happening now is vastly different from what occurred during the crash (see the graph below):

a graph of a fall

Just in case you’re wondering why foreclosure filings have slightly increased since 2020 and 2021, here’s what you need to know. During those years, there was a foreclosure moratorium (represented in white on the graph), which helped millions of homeowners avoid foreclosure during a challenging time. As a result, the numbers during those years were incredibly low. When you look at the long-term trends, however, it’s clear that overall foreclosure filings are significantly down.

### Why Are There Fewer Foreclosures Despite Rising Costs?

You may be wondering how foreclosure numbers remain low even as the cost of living has risen. One key factor is that homeowners today have more equity built up in their homes compared to 2008. As Bankrate explains:

*”In the years following the housing crash, millions of foreclosures flooded the market, depressing home prices. That’s not the case now. Most homeowners have a comfortable equity cushion in their homes.”*

This equity acts as a financial safety net, allowing homeowners to avoid foreclosure even when facing financial hardships. Even if someone is struggling to make their monthly payments, they may be able to sell their home—potentially in a thriving market like Greater Cincinnati, Northern Kentucky, or Southeast Indiana—and avoid foreclosure altogether. This is a stark contrast to the 2008 crisis when many homeowners owed more on their mortgages than their homes were worth.

### What’s Ahead for the Real Estate Market?

It’s true that today’s higher cost of living—whether for gas, groceries, or other essentials—presents a challenge for many. However, this doesn’t signal a coming surge in foreclosures. The strong equity cushion that homeowners currently enjoy is helping to keep foreclosure filings at bay. Those who are facing financial difficulty have more options today, whether it’s selling their home or refinancing, making it easier to avoid the foreclosure process.

### Bottom Line

While everyday expenses may be rising, this doesn’t mean the housing market in Greater Cincinnati, Northern Kentucky, and Southeast Indiana is heading for another foreclosure crisis. The data shows that the market is far from a foreclosure wave, and homeowners are in a much stronger financial position today compared to the 2008 crash, largely thanks to the significant equity they’ve built up. Whether you’re looking to buy homes for sale or considering selling your house, the real estate market remains resilient and offers plenty of opportunities.

Hire a Professional! • Luxury Homes • Money Talk • Sellers • October 23, 2024

How Long Will It Take To Sell Your House?

by Laura Benson

As you’re preparing to sell your house in Cincinnati or Northern Kentucky, one of the first questions on your mind is likely, “How long will it take to sell?” That’s an important question, as it helps set expectations for the process ahead.

While real estate markets vary, understanding national trends provides a useful starting point. However, to get a clearer picture of what’s happening specifically in Cincinnati and Northern Kentucky, it’s crucial to work with an experienced local real estate agent. A local agent will give you a detailed look at real estate conditions in your area and explain how they compare to national trends.

Here’s a look at what a great agent can help you understand during that conversation:

### More Homes Are Hitting the Market, Impacting Sale Timelines
According to Realtor.com, the number of homes for sale has increased throughout the year. This is great news for buyers since there are more properties to choose from. However, for sellers in the Cincinnati and Northern Kentucky real estate markets, this means homes are staying on the market a bit longer.

a graph of blue bars

One reason homes sold so quickly in recent years was the low inventory, which is now starting to rise. With more houses available, the pace of home sales is slowing down slightly. Currently, Realtor.com reports it takes an average of 55 days for a home to go from listing to closing.

But it’s important to remember that while homes may not sell as fast as last year, they’re still moving quicker than during the pre-pandemic years. For example, from 2017 to 2019, it often took over 60 days for homes to sell. So, today’s housing market is still faster than what was once considered normal.

Even with more homes on the market, demand continues to outpace supply, especially in high-demand areas like Cincinnati and Northern Kentucky. That means homes that are priced correctly and show well are selling quickly. As NerdWallet puts it:

“Overall, though, demand still outpaces supply. This is hardly a mellow market: Good homes sell quickly . . .”

### Your Agent Will Help Your Home Stand Out
If you want your home to sell quickly in today’s competitive real estate market, working with a knowledgeable local agent is key. A Cincinnati or Northern Kentucky real estate expert can help you set the right price, stage your home for maximum appeal, and create a tailored marketing plan to attract buyers. With insights into what’s happening in the local real estate market, your agent will guide you on how to make the process as smooth and fast as possible.

While homes may take a little longer to sell, they are still moving faster than in previous years. With the right strategy and a top-notch agent, your home could sell faster than you anticipate.

### Bottom Line
If you’re planning to sell your home in Cincinnati or Northern Kentucky, understanding how long it might take is essential for planning your next steps. By partnering with a local real estate expert, you’ll have the knowledge and tools to price, market, and sell your home confidently in today’s dynamic real estate market.

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

Planning To Sell Your House in 2025? Start Prepping Now

by Laura Benson

If you’re planning to sell your house in Cincinnati or Northern Kentucky in 2025, now is the perfect time to start prepping. Although it may seem like there’s plenty of time before the new year, getting ahead on necessary updates or repairs can make a big difference in your local real estate market. As Danielle Hale, Chief Economist at Realtor.com, notes:

“…now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list… We have survey data that says 47 percent of sellers are taking longer than a month to get their home ready to sell, so starting the process early can provide more flexibility.”

Beginning your prep work early ensures your property will be ready for Cincinnati’s and Northern Kentucky’s competitive real estate markets. Team up with a knowledgeable real estate agent who can provide insights on which repairs or updates are valuable in your neighborhood and the broader region.

### Why Starting Early Is Essential
To attract the best price and sell your home quickly in Cincinnati or Northern Kentucky, it’s crucial that your property looks its best. This means making necessary repairs, decluttering, and considering updates that can increase your home’s value in the local real estate market.

By starting early, you can manage tasks one at a time, whether it’s fixing leaky faucets, enhancing curb appeal with fresh landscaping, or painting. This proactive approach reduces stress and helps you avoid the overwhelm of trying to complete everything at once. As Realtor.com explains:

“There are important repairs to make before selling a house, so don’t rush to list it. Moving too fast can signal to buyers that you skipped essential home renovations, which could cost you both time and money.”

### What Should You Focus On?
Not sure where to begin with your to-do list? Here are some common home improvements that other sellers are tackling right now (see graph below):

Planning To Sell Your House in 2025? Start Prepping Now

### The Value of Working with a Local Cincinnati or Northern Kentucky Agent
While national data provides a great starting point, it’s essential to remember that local market conditions vary. What buyers expect in Cincinnati or Northern Kentucky may differ from other regions, and only a local real estate agent will have the in-depth knowledge needed to guide you effectively.

For instance, if homes in your Cincinnati neighborhood are selling faster with modernized kitchens, your agent might recommend focusing on minor kitchen updates rather than spending money on areas that won’t yield a strong return. They’ll also advise you on whether larger projects, like replacing your roof or upgrading your HVAC system, are worth it based on other recently sold homes in your area. As Point says:

“Not all renovations are created equal. Focusing on upgrades that offer the highest potential for increasing your home’s value is key.”

Remember, even small details can have a significant impact. Your local agent will point out minor improvements—such as adding fresh mulch, cleaning up your yard, or painting your front door—that can enhance your home’s appeal. This expert advice is invaluable for getting your home sold quickly and at the best price in Cincinnati or Northern Kentucky’s real estate markets.

### Bottom Line
Are you thinking of selling your house in Cincinnati or Northern Kentucky next year? Don’t wait until the last minute. Start preparing now so your home will be in prime condition when the new year arrives.

Looking for guidance on what to tackle first? Connect with a local real estate agent for expert advice tailored to your market.

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

What To Expect from Mortgage Rates and Home Prices in 2025

by Laura Benson

Curious about the future of the housing market in Cincinnati and Northern Kentucky as we approach 2025? Real estate experts are offering some encouraging forecasts that could impact your decisions, especially regarding mortgage rates and home prices in these regions.

Whether you’re considering buying or selling a home in the Cincinnati or Northern Kentucky markets, here’s what the experts are saying and how these projections might shape your next move.

### Mortgage Rates Are Expected To Decline

One of the primary factors influencing your real estate plans is mortgage rates, and the outlook for 2025 is promising. After the significant increases we’ve seen in recent years, experts predict that mortgage rates will ease slightly over the course of the year (see graph below):

a graph showing the rate of a forecast

While the decline in mortgage rates won’t be a straight drop, the general trend is expected to be downward. However, expect some fluctuations due to ongoing changes in economic data and inflation. These short-term bumps shouldn’t distract you from the broader trend of decreasing rates.

For homebuyers and real estate investors in Cincinnati and Northern Kentucky, lower mortgage rates can greatly improve affordability. As rates decrease, your monthly mortgage payment will be lower, potentially allowing you to afford more in a home purchase. This shift is likely to draw more buyers and sellers into the Cincinnati and Northern Kentucky real estate markets.

As Charlie Dougherty, Director and Senior Economist at Wells Fargo, notes:

“Lower financing costs will likely boost demand by pulling affordability-crunched buyers off of the sidelines.”

As demand rises, the housing inventory and competition will follow suit. To stay ahead of the game, work with your real estate agent to understand how changes in mortgage rates are affecting the local housing market in Cincinnati and Northern Kentucky.

### Home Prices Are Forecasted for Modest Growth

While mortgage rates are expected to decrease, home prices in Cincinnati and Northern Kentucky are projected to experience modest growth, but at a slower pace compared to recent years.

Nationally, experts predict home prices will rise by about 2.5% in 2025 (see graph below):

a graph of green bars

This moderate price growth is more manageable than the double-digit increases seen in the past few years, especially in competitive real estate markets like Cincinnati.

The projected increase in home prices is driven by growing demand as more buyers enter the market. But this demand will be balanced by an increase in housing supply, as homeowners who were previously locked into high mortgage rates may now be more motivated to sell.

In areas like Cincinnati and Northern Kentucky, where inventory remains below historical levels, increased buyer activity may put pressure on prices. However, as more homes are listed, supply will help moderate that price growth. This trend suggests that home prices will rise, but at a healthier, more sustainable pace than in previous years.

It’s also important to note that these national trends might not directly reflect the real estate dynamics in every Cincinnati or Northern Kentucky neighborhood. As Lance Lambert, Co-Founder of ResiClub, explains:

“Even if the average national home price forecast for 2025 is correct, some regional housing markets could see mild home price declines, while others may experience stronger appreciation. That has been the case this year.”

Even in markets with minimal price growth or slight declines, the recent appreciation has been so substantial that it won’t have a significant long-term impact. That’s why it’s essential to work with a knowledgeable local real estate expert who can provide insights on the specific market conditions in Cincinnati or Northern Kentucky.

### Bottom Line

As mortgage rates are expected to decline and home prices projected to grow at a moderate pace, the 2025 housing market in Cincinnati and Northern Kentucky looks promising for both buyers and sellers.

If you’re looking to make a move in these real estate markets, reach out to a local real estate agent. They can help you navigate these trends and take advantage of the opportunities ahead in the Cincinnati and Northern Kentucky housing markets.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • October 18, 2024

Why Buying Now Is Worth It

by Laura Benson

Some Highlights

You may be torn between buying a home now or waiting. But don’t forget to factor in the equity you’ll gain as prices rise.
Experts forecast prices will climb over the next 5 years – and based on those forecasts, you could gain about $90k in equity in that time.
So, you could wait, but you’ll miss out on a lot of equity if you do. If you’re ready and able to buy, let’s connect so you can start growing your wealth now.

Hire a Professional! • Homebuyers • Luxury Homes • Money Talk • Sellers • October 18, 2024

Why Did More People Decide To Sell Their Homes Recently?

by Laura Benson

As summer comes to an end, homeowners often slow down their plans to move, leading to fewer homes being listed for sale during the fall. This seasonal trend in Cincinnati real estate is typically predictable. However, this year saw an unexpected twist. Mortgage rates dropped just as the number of homes on the market usually starts to decline. As a result, more homeowners in Cincinnati and Northern Kentucky decided to sell, bringing more homes to the market.

According to recent data from Realtor.com, the number of homes listed for sale in September increased by 11.6% compared to the same time last year.

The graph below shows the typical September decline in listings didn’t happen this year – instead, it rose (see graph):

a graph of a number of homes

Ralph McLaughlin, Senior Economist at Realtor.com, explains that this unseasonal surge in listings is tied to falling mortgage rates:

“This sharp increase is largely due to the decline in mortgage rates in mid-August, enticing homeowners to sell.”

So, as mortgage rates fell at the end of summer, more people in Cincinnati jumped into the real estate market, deciding it was the right time to sell.

### What Does This Mean If You’re Looking To Buy a Home in Cincinnati?
This increase in listings means you’ll have more fresh options to choose from than in previous months – not just the homes that have been sitting on the market for a while.

However, it’s important to remember that mortgage rates have been volatile recently, with a slight uptick in the last few weeks. These rising rates may deter some sellers from listing their homes in the coming months. Mortgage rates are a key driver in the real estate decisions made by homeowners in today’s market.

### Why Buy Now, Rather Than Wait?
Whether you’re searching for a starter home, looking to upgrade, or downsizing, you currently have more homes to choose from in the Cincinnati and Northern Kentucky real estate market. If you find a home that meets your needs, don’t hesitate, as these new listings won’t be available indefinitely. Partnering with a trusted real estate agent who knows the local market is essential for staying ahead of new listings.

It’s also important to remember that one month of data doesn’t establish a trend. Whether the number of homes on the market will continue to rise depends on several factors, including mortgage rates, inflation, employment rates, and the actions of the Federal Reserve.

Given the current circumstances, this may be your best opportunity to find the right home if you’re ready, willing, and able to buy this fall.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), offers insight:

“The rise in inventory – and, more technically, the accompanying months’ supply – implies homebuyers are in a much-improved position to find the right home and at more favorable prices.”

### Bottom Line
As mortgage rates decreased at the end of summer, more sellers returned to the Cincinnati and Northern Kentucky real estate market, giving buyers increased options. Working closely with a local real estate agent is the best way to capitalize on these new opportunities before they disappear.

How Real Estate Agents Take the Fear Out of Moving

Avoid These Top Homebuyer Mistakes in Today’s Market

Why Your House Will Shine in Today’s Market

Debunking Scary Myths About Buying a Home

Some Highlights

Why Today’s Foreclosure Numbers Won’t Trigger a Crash

How Long Will It Take To Sell Your House?

Planning To Sell Your House in 2025? Start Prepping Now

What To Expect from Mortgage Rates and Home Prices in 2025

Why Buying Now Is Worth It

Some Highlights

Why Did More People Decide To Sell Their Homes Recently?

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