Is It Time for You to Move? Watch for These 3 Signs

There are three key signs you should watch for to know if it’s time for you to move.

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 Is it time for you to move? If you’re unsure, here are three signs to look out for. The first is how your home’s space affects you. Maybe you’re feeling a little cramped because your family has gotten bigger or your kids are getting older and space is tighter inside your house than it used to be. Buying a new house can be a great upgrade in terms of space. It’s also possible that you have too much space and you need to downsize so you don’t have as much maintenance to keep up with or utility costs to cover. The second sign it might be time to move is your financial situation has changed. Maybe you’ve gotten enough promotions over the years that you’re ready to upgrade to the home you’ve been dreaming of. You might also be thinking of retiring and how that will affect your financial situation.

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You may either have too much or too little space in your current home.

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Another aspect to think about in terms of your financial situation is the market itself. Many experts (including myself) believe we’re heading toward a market peak, so you might be in position to cash-out a large chunk of equity. The third sign is you want to register your kids into a different school system. We all have different motivations behind which school systems we want our kids in, so if you’re like me and your kids are in their school-age years, this might factor into your decision. If you have any more questions about this topic or you’re still unsure whether it’s time for you to move, don’t hesitate to call or email me anytime. I’d love to speak with you.

Don’t Buy Into Market Misinformation

The information you hear on social media and the news concerning the market might have you feeling scared of the market, but it could be the product of misinformation.

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Right now is a great time to buy and sell in this real estate market, but there are a few myths circulating that would have you think otherwise. Today, I want to address some misinformation you might have heard and you might now believe. I don’t necessarily mean that it’s bad information, but rather information that is communicated in unclear ways that might prevent those who hear it from being well informed about the market.

Despite the hype surrounding rising interest rates, interest rates are still at all-time lows. Rates are 2.5 points below the market average, based on my tracking the figures over the past 20 to 30 years. You can still take advantage of interest rates—there are mortgage rate deals as well as agent-generated deals, where a good agent can negotiate deals for you.

Another type of deal is the market-generated deal, which is what most people sit around waiting for; there’s a fear of entering the marketplace because people believe that the market can only create so many deals.

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Despite the hype surrounding rising interest rates, interest rates are still at all-time lows.

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If you’re planning to buy or sell a home anytime within the next five years, you should jump in right now. The below market interest rates, the potential to maximize the amount of equity you can pull out of your home, and if you have the right agent, they will help create a generated deal and find a property that you can buy which lines up with your goals.

Many people believe that we’re near the crest of a rising market and will soon be headed back down. None of us has a crystal ball to know exactly where we are in terms of the market crest or trough, but most believe we’re somewhere in upper end.

If you’re thinking of selling your home in the near future, feel free to reach out to us for a free, no-obligation consultation. We’d love to dive into the market and talk about how it could benefit you.

4 Tips for First-Time Homebuyers

These four tips can help first-time home buyers purchase their home at the best price and rate possible.

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Today, I have some tips to help first-time homebuyers purchase a home. 

1. Find a great real estate consultant. The way I differentiate between a real estate consultant and an agent is that a consultant will sit down with you and identify your needs and what you’re looking for. An agent, in my mind, is more reactionary; they’ll show you the houses that you ask to see.
2. Dig into the market conditions. There are many different markets throughout the country. Here in Birmingham, we’re in a low inventory market and interest rates are spiking. The differences between markets will affect the price of the home you’re trying to buy. A great consultant will help you navigate the market conditions and structure the best deal for your situation.
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First-time homebuyers have many different options in today’s market.


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3. Work to make sure you’re fully pre-approved. This will require working with a lender. Sit down with them and let them coach you through the various financing options that are available in this rising interest rate climate in order to reduce your payment. It could be an interest rate buydown, negotiating with the seller to have them pay closing costs, or possibly having the lender pay some closing costs.
4. Look at homes that need renovations. Work with your agent and lender to do a 203(k) renovation loan and renovate a house.

First-time homebuyers have many different options in today’s market. Discuss these with your consultant to get the best deal at the best price with the best terms for you and your family’s goals. 

If you have any questions, please feel free to contact us. We’d be glad to help you any way we can.