Lansing Michigan Housing Update

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buying a home Home Prices Are Not Falling Home Prices Are Not Falling During the fourth quarter of last year, some housing experts projected home prices were going to crash in 2023. The media ran with those forecasts and put out headlines calling for doom and gloom in the housing market. All of this negative news coverage made a lot of people have doubts about the […]
buying a home Understanding the Benefits of Owning Your First Home Understanding the Benefits of Owning Your First Home Are you considering buying your first home? If so, it can be helpful to know what led other people to make that decision. According to a recent survey of first-time homebuyers by PulteGroup: “When asked why they purchased their first home recently, the answer was simple: because they wanted to. Either the […]
East Lansing Don’t Fall for the Next Shocking Headlines About Home Prices Don’t Fall for the Next Shocking Headlines About Home Prices If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices. They’re […]
East Lansing Tips for Making Your Best Offer on a Home Tips for Making Your Best Offer on a Home While the wild ride that was the ‘unicorn’ years of housing is behind us, today’s market is still competitive in many areas because the supply of homes for sale is still low. If you’re looking to buy a home this season, know that the peak frenzy of bidding wars is in the […]
buying a home Homebuyers Are Still More Active Than Usual Homebuyers Are Still More Active Than Usual Even though the housing market is no longer experiencing the frenzy that was so characteristic of the last couple of years, it doesn’t mean today’s market is at a standstill. In actuality, buyer traffic is still strong today. The ShowingTime Showing Index is a measure of how much buyers are touring […]
East Lansing Two Questions To Ask Yourself if You’re Considering Buying a Home Two Questions To Ask Yourself if You’re Considering Buying a Home If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved […]
East Lansing How Remote Work Expands Your Homebuying Horizons How Remote Work Expands Your Homebuying Horizons Even as some companies transition back into the office, remote work remains a popular choice for many professionals. So, if you currently enjoy working from home or hope to be able to soon, you’re not alone. According to a recent survey, most working professionals want to work either fully […]
East Lansing Building Momentum for New Home Construction Momentum Is Building for New Home Construction If you’re in the process of looking for a home today, you know the supply of homes for sale is low because you’re feeling the impact of having a limited pool of options. And, if your biggest hurdle right now is that you’re having trouble finding something you like, don’t […]
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East Lansing Top Reasons Your Home Isn’t Selling: Key Factors to Consider Top Reasons Your Home Isn’t Selling: Key Factors to Consider   In the competitive world of real estate, maximizing your home sale involves three key objectives: achieving the highest possible price, selling within a specific timeframe, and minimizing complications. While the current housing market generally favors sellers due to limited housing supply, various factors can […]
East Lansing Considering Short-Term Rental for Your Home? Here’s What You Need to Know Thinking of turning your home into a short-term rental property instead of selling it? Discover the challenges and regulations involved in this popular real estate investment option. Read on to make an informed decision. If you’re a homeowner considering a change, you might be contemplating the idea of converting your current house into a short-term […]
East Lansing Housing Update Balancing Your Wants and Needs as a Homebuyer This Spring Balancing Your Wants and Needs as a Homebuyer This Spring Though there are more homes for sale now than there were at this time last year, there’s still an undersupply with fewer houses available than in more normal, pre-pandemic years. The Monthly Housing Market Trends Report from realtor.com puts it this way: “While the number […]
East Lansing Housing Update Want To Sell Your House? Price It Right. Last year, the housing market slowed down in response to higher mortgage rates, and that had an impact on home prices. If you’re thinking of selling your house soon, that means you’ll want to adjust your expectations accordingly. As realtor.com explains: “. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust […]
East Lansing Housing Update Key Terms To Know When Buying a Home Key Terms To Know When Buying a Home Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel […]
East Lansing Housing Update Think Twice Before Waiting for 3% Mortgage Rates Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans. Today, the […]
East Lansing Housing Update 2023 Housing Market Forecast Some Highlights From home sales to prices, the 2023 housing market will be defined by mortgage rates. And where rates go depends on what happens with inflation. If you’re thinking of buying or selling a home this year, let’s connect so you understand where the housing market is headed in 2023. Sources: realtor.com Home Price Expectations Survey (HPES) […]
East Lansing Housing Update What To Expect From the Housing Market in 2023 The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position. As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. […]
East Lansing Housing Update Homeownership Is an Investment in Your Future Homeownership Is an Investment in Your Future There are many people thinking about buying a home, but with everything affecting the economy, some are wondering if it’s a smart decision to buy now or if it makes more sense to wait it out. As Bob Broeksmit, President and CEO of the Mortgage Bankers Association (MBA), explains: “The desire for […]
East Lansing Housing Update Key Factors Affecting Home Affordability Today Every time there’s a news segment about the housing market, we hear about the affordability challenges buyers are facing today. Those headlines are focused on how much mortgage rates have climbed this year. And while it’s true rates have risen dramatically, it’s important to remember they aren’t the only factor in the affordability equation. Here […]
East Lansing Housing Update Sell Your House Before the Holidays As you look ahead to the winter season, you’re likely making plans and thinking about what you want to achieve before the year ends. One of those key decision points could be whether or not you want to move this year. If the location or size of your current home no longer meets your needs, […]
East Lansing Housing Update Two Questions Every Homebuyer Should Ask Themselves Right Now   Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows […]
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