a house with a blue sky and clouds

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.

Originally posted at Simplifying The Market.

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Homeowners typically slow down their moving plans as the summer months wrap up, and as a result, fewer homes are listed for sale in the fall. It’s a predictable, seasonal trend in real estate. But this year, mortgage rates came down at the same time the number of homes on the market usually starts to decline. So, what happened? More homeowners decided to sell, so more homes came to the market.

The most recent data from Realtor.com reveals that in September, the number of homes put up for sale increased by 11.6% compared to this time last year.

As the green circle in the graph below shows, the typical September decline in homes coming to the market didn’t happen – that number actually went up (see graph below):

a graph of a number of homesRalph McLaughlin, Senior Economist…

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Did you know? Homeowners are often able to put more money down when they buy their next home. That’s because, once they sell, they can use the equity they have in their current house toward their next down payment. And it’s why as home equity reaches a new height, the median down payment has too.

According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that’s nearly 15% more than last year, and the highest on record (see graph below):

a graph showing a green lineHere’s why equity makes this possible. Over the past five years, home prices have increased significantly, which has led to a big boost in equity for current homeowners like you. When you sell your house and move, you can take the equity that gives you and apply it toward a…

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41W622 Holly Ct, St Charles, IL

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 4 BATHROOMS 1.05 acres Lot

Nestled in the sought-after Hedgerow Farms of St. Charles, this stunning 4-bedroom, 3.5-bathroom brick and cedar Tudor home offers an idyllic blend of luxury and comfort. Situated on a beautifully landscaped 1+ acre cul-de-sac lot, this home greets you with a charming paver front walk and a 2-car sideload garage. Enjoy outdoor living with a spacious backyard paver patio, deck, and cozy firepit-perfect for entertaining or relaxing. Inside, you'll find hardwood and wood laminate flooring…

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For some buyers, there’s a misconception that newly built homes aren’t made to last or fall short of the quality you can find in older homes. Unfortunately, this is turning some buyers away from what may be one of their best options in today’s housing market. As Builder Online says:

“As resale inventory remains limited and the price spread between new and resale homes narrows, new homes are increasingly an attractive value proposition for buyers, with incentives such as rate buydowns a way to help address ongoing affordability challenges.”

So, is there any merit to the myth? Let’s break down the best way to make sure you feel good about looking into new home construction. That way, you’re not missing out on such a great option today.

Choosing the…

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If you’re looking to break into homeownership but the price of single-family homes has you second-guessing, you might want to consider a condominium (condo) or townhome. These types of homes often come with a lower barrier to entry – and that can help you start to build equity and enjoy the benefits of owning a home sooner.

Since they're usually smaller than single-family homes, they can be easier on your wallet. While it’s not always the case, smaller square footage usually comes with a smaller price tag too. As a result, according to the latest data from Realtor.com, condos typically have a lower asking price than single-family homes (see graph below):

a screenshot of a graphAnd here’s some exciting news: builders are focusing more on homes like these. The National…

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The St Charles IL real estate market is buzzing with activity, and if you're considering buying or selling a home, understanding the current trends is essential. As we move through October 2024, it’s clear that the market in St Charles is both competitive and lucrative. Whether you're a buyer hoping to find the perfect property or a seller aiming to get the best return on your investment, now is a pivotal time to act.

In this blog post, we’ll break down the key statistics and trends in the St Charles IL real estate market, including inventory levels, home prices, and what to expect in the coming months.

Inventory Levels Are Tight with a 4.7 Months Supply

One of the most important metrics to keep an eye on in real estate is the Months Supply…

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Are you considering buying a home in one of Illinois’ fastest-growing communities? If so, Pingree Grove IL should be on your radar. Known for its recent boom, this village offers a unique blend of modern housing, excellent schools, and a family-friendly atmosphere. But with all its rapid development, there are both advantages and challenges to living in this up-and-coming area.

In this article, we’ll explore the benefits and potential drawbacks of moving to Pingree Grove, helping you determine if this fast-growing community is the right fit for you.

Why Pingree Grove IL is the Place to Be

One of the most striking things about Pingree Grove is that 97.7% of its homes were built after 1999. This makes it one of the newest villages in the…

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In October 2024, the Batavia IL real estate market presents an exciting mix of opportunities for both buyers and sellers. With the market evolving rapidly, it’s important to stay informed about the latest trends and conditions. Whether you're looking to sell your home quickly or find your dream property in this vibrant community, understanding the current data can make all the difference.

In this article, we’ll break down the Batavia IL real estate market stats, explore the best strategies for buyers and sellers, and discuss why now might be the ideal time to make your move.

Current Real Estate Market Overview in Batavia IL

As of October 2024, Batavia’s real estate market continues to show resilience and promise. The numbers speak for…

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a screenshot of a table

Some Highlights

  • Based on a recent study, in 22 of the top 50 metros, the monthly mortgage payment is lower than the rent payment.
  • Make sure you work with a pro who can help you crunch the numbers and see how your city stacks up.
  • This may be your opportunity to forget renting for good. If you want to see which option makes the most sense in our area, let’s do the math together.

Originally posted at Simplifying The Market.

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