Posts with tag 'Rockford Real Estate'
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21
Why Pre-Approval Should Be Your First Step – Not an Afterthought
Finding the right home feels exciting – but being pre-approved for your loan is what makes it possible. Whether you're planning to buy soon or still just thinking about it, getting pre-approved is one of the best moves you can make. Here's why.
1. What Is Pre-Approval, Really?
Pre-approval is much more than a guess. It means a lender has reviewed your finances (things like your income, assets, credit score, debts, and savings) and told you how much they're willing to let you borrow for your loan.
It's basically a reality check for your home search,...
24
First-Time Home Buyer Share Falls to Historic Low of 21%, Median Age Rises to 40
Approximately nine in 10 buyers and sellers worked with a real estate agent, with seller representation reaching record highs.
17
Why More Homeowners Are Giving Up Their Low Mortgage Rate
If you're like a lot of homeowners, you've probably thought: "I'd like to move… but I don't want to give up my 3% rate." That's fair. That rate has been one of your best financial wins – and it can be hard to let go. But here's what you need to remember...
A great rate won't make up for a home that no longer works for you. Life changes, and sometimes, your home needs to change with it. And you're not the only one making that choice.
The Lock-In Effect Is Starting To Ease
Many homeowners have been frozen in place by something the experts call the lock-in effect. That's when you won't move because you don't want to take on a higher rate on your next home loan. But
26
How To Make Sure Your Sale Crosses the Finish Line
If there was one simple step that could help make your home sale a seamless process, wouldn't you want to know about it?
There's a lot that happens from the time your house goes under contract to closing day. And a few things still have to go right for the deal to go through. But here's what a lot of sellers may not know.
There's one part of the process where some homeowners are hitting a road bump that's causing buyers to back out these days. But don't worry. The majority of these snags are completely avoidable, especially when you understand what's causing them and how to be proactive.
That's where a great agent (and a little prep) can make all the difference.
What's Causing Some Buyers To Back Out
The latest data from Redfin says 15% of pending home s...
19
Why You Don't Need To Be Afraid of Today's Mortgage Rates
Mortgage rates have been the monster under the bed for a while. Every time they tick up, people flinch and say, "Maybe I'll wait." But here's the twist. Waiting for that perfect 5-point-something rate could end up haunting your wallet later.
The Magic Number
According to the National Association of Realtors (NAR):
". . . a 30-year fixed rate mortgage of 6% would make the median-priced home affordable for about 5.5 million more households—including 1.6 million renters. If rates were to hit that magic number, it's likely that about 10%—or 550,000—of those additional households would buy a home over the next 12 or 18 months.