a close-up of a bank

Some Highlights

  • Once a lender has reviewed your finances as part of the homebuying process, you want to be as consistent as possible. Don’t make any big changes that could affect your mortgage application.
  • Here are a few tips. Don’t change bank accounts or apply for new credit. And this one may surprise you, don’t buy appliances or furniture for your next home yet either.
  • The best tip of all? Before you do anything financial in nature, talk to your lender first.

Originally posted at Simplifying The Market.

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When you put your house on the market, you want to sell it quickly and for the best price possible; that's generally the goal. But too many sellers are shooting too high right now. They don’t realize the market has shifted as inventory has grown. The side effect? Price cuts are on the rise, but they really don’t have to be. Here’s why.

According to data from Realtor.com, in February, price cuts were the highest they’ve been in any other February since 2019 (see graph below):

a graph of blue rectangles with numbers

If you consider that 2019 was the last true normal year for the housing market – that's a big deal. We’re getting back to what’s typical for the market.

This isn’t the same frenzied seller’s market we saw a few years ago. You may not get the same price your neighbor did…

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Buying your first home in today’s market can feel tough. Between high home prices and mortgage rates, affordability is still a big challenge. And some buyers are making one simple trade-off that’s getting them in the door faster: square footage.

According to the National Association of Home Builders (NAHB), 35% of buyers are willing to purchase something smaller to make homeownership happen. And one place you can usually find a smaller footprint (and sometimes better affordability) is in townhomes.

Why Townhomes Are Gaining Popularity

Townhomes typicallycost less than single-family homes due to their more limited size.And that’s a big plus for today’s budget-conscious buyer. As Realtor.com says:

"In today's market, affordability remains a key…

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524 Ellen Ln, Batavia, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 0.27 acres Lot Welcome to 524 Ellen Ln, a beautifully maintained 4-bedroom, 3-bath home in Batavia's desirable Millview neighborhood. This brick and vinyl two-story is ideally located right across from a neighborhood park and just minutes from schools, shopping, dining, and more. Step inside to find hardwood floors, recessed lighting, and a stunning two-story family room with a floor-to-ceiling brick fireplace with gas logs that adds warmth and character. The eat-in kitchen features stainless steel appliances,…

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Recession talk is all over the news, and the odds of a recession are rising this year. And that leaves people wondering what would happen to the housing market if we do go into a recession.

Let’s take a look at some historical data to show what’s happened in housing for each recession going all the way back to the 1980s.

A Recession Doesn’t Mean Home Prices Will Fall

Many people think that if a recession hits, home prices will fall like they did in 2008. But that was an exception, not the rule. It was the only time we saw such a steep drop in prices. And it hasn’t happened since.

In fact, according to data from CoreLogic, in four of the last six recessions, home prices actually went up (see graph below):

a graph of a graph showing the price of falling prices
So, if you’re thinking about buying…

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Last year, 70% of buyers abandoned their home search – and maybe you were one of them. It makes sense. Inventory was low, prices were high, and mortgage rates were up and down like a rollercoaster. All of that made it really hard to find a home you loved – and could afford.

But guess what? The market is shifting.

So, if you paused your moving plans in 2024, it might be time to hit play again. Here’s why.

More Inventory Opens Up More Options

Even if you could make the numbers work, the lack of available homes in recent years probably made it hard to come by something that fit your needs. But inventory is rising, which means you have more options now.

According to Realtor.com, inventory has jumped 27.5% since this time last year (see graph…

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1490 Flora Church Rd, Kirkland, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 4 BATHROOMS 5.1 acres Lot Escape to your dream retreat with this stunning 4-bedroom, 3.5-bath custom log home nestled on 5 serene acres in Kirkland, Illinois. With over 3,000 sq ft of beautifully finished living space across three levels, this one-of-a-kind home offers rustic charm and modern comfort. Step inside to soaring 24' beamed ceilings, solid ash hardwood flooring, and an open floor plan that seamlessly connects the spacious living room-featuring a stone surround woodburning stove-to a…

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234 Applewood Ln, Bloomingdale, IL

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$ CLICK FOR CURRENT PRICE 3 BEDROOMS 2 BATHROOMS Welcome to this beautifully updated 3-bedroom, 1.5-bath two-story townhome in the desirable Westlake neighborhood of Bloomingdale. Featuring a private front courtyard and an attached 2-car garage, this home offers both style and functionality. Step inside to find wood laminate flooring and recessed lighting throughout the main level. The spacious living room flows into an updated eat-in kitchen with sleek quartz countertops, stainless steel appliances, tile backsplash, and an adjacent dining area with slider access…

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screens screenshot of a home price

Some Highlights

  • At a national level, the housing market has shifted over the past year.
  • There are more homes for sale, price growth has moderated, and homes are taking a little longer to sell.
  • Do you want to know how our area compares? Let’s connect so we can go over what's happening locally and what this means for you.

Originally posted at Simplifying The Market.

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If selling your house is on your to-do list this year, the time to start prepping is now. That’s because experts say the best week to list your house is coming up fast.

A recent Realtor.com study analyzed years of housing market trends (excluding 2020 since it was an outlier) and found that April 13–19 is expected to be the ideal window to put your house on the market this year:

. . . we’ve identified April 13-19 as the best week to list for sellers . . . a seller listing a well-priced, move-in ready home is likely to find success. Because spring is generally the high season for real estate activity and buyers are more plentiful earlier rather than later in the year, listing earlier in the spring raises a seller’s odds of a successful sale.”

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