Henry Yawson, Real Estate Broker/Owner

08/11/2023

The Number of Homes for Sale Is Still Very Low

The number of homes available for sale is still very low. Let’s connect now to get your house in front of eager buyers.

08/10/2023

About 11,000 Houses Will Sell Today

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now. If that’s you, know that even though the housing market has slowed compared to the frenzy of a couple of years ago, it isn’t at a standstill. Contrary to what you may believe, buyers are still active and plenty of homes are selling right now.

According to the National Association of Realtors (NAR), based on the pace of sales right now, just over 4 million homes will sell this year. With some simple math, let’s break down what that really means for you:

• 4.16 million homes divided by 365 days in a year = 11,397 houses sell each day
• 11,397 divided by 24 hours in a day = 475 houses sell per hour
• 475 divided by 60 minutes in an hour = about 8 houses sell each minute

So, on average, about 11,000 homes sell each day in this country.

A...

Some homeowners have been waiting for months to put their house on the market because they don’t think people are buying homes right now.

08/09/2023

The Value of an Agent When Buying Your New Construction Home

Buying a new construction home can be an exciting experience. But navigating the complexities of buying a home that’s under construction can also be a bit overwhelming. This is where a skilled real estate agent can make all the difference.

Here’s how your agent is an invaluable resource in your search to find and buy your new home.

Agents Know the Local Area and Market

Your agent is well-versed in the emerging communities and upcoming developments that could influence your decision. Your agent can help you find a community that perfectly aligns with your preferences, lifestyle, and future needs.

Knowledge of Construction Quality and Builder Reputation

An agent also has the expertise to evaluate the construction quality and reputation of different builders. This information can help you avoid any potential risks and help you confidently select a...

Buying a new construction home can be an exciting experience.

08/08/2023

There's Only Half the Inventory of a Normal Housing Market Today

Wondering if it still makes sense to sell your house right now? The short answer is, yes. Especially if you consider how few homes there are for sale today.

You may have heard inventory is low right now, but you may not fully realize just how low or why that’s a perk when you go to sell your house.

While the housing inventory did grow slightly week-over-week, overall supply is still low. Compared to the same week last year, supply is down roughly 10% – and it was already considered low at that time. But, if you look further back, you’ll see inventory is down even more significantly.

To gauge just how far off from normal today’s inventory is, let’s compare right now to 2019 (the last normal year in the market). When you compare the same week this year with the matching week in 2019, supply is about 50% lower. That means there are half the homes...

Wondering if it still makes sense to sell your house right now?

08/07/2023

Home Prices Are Making a Comeback

Home prices are making a comeback. Let’s connect so you can stay up to date on prices in our area.

08/04/2023

Housing Market Forecast for the Rest of 2023 [INFOGRAPHIC]

Want to know what experts say will happen in the rest of 2023? Home prices are already appreciating again in many areas. The average of the expert forecasts shows positive price growth. Where mortgage rates go for the rest of the year will depend on inflation. Based on historical trends, rates are likely to ease as inflation continues to cool. Even though low inventory continues to be a challenge, experts project 5 million homes will still sell this year. That pace should pick up if rates come down.

Want to know what experts say will happen in the rest of 2023?

08/03/2023

How Inflation Affects Mortgage Rates

When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed). But how does this decision affect you and your plans to buy a home? Here's what you need to know.

The Fed is trying hard to reduce inflation. And even though there’s been 12 straight months where inflation has cooled, the most recent data shows it’s still higher than the Fed’s target of 2%.

While you may have been hoping the Fed would stop their hikes since they’re making progress on their goal of bringing down inflation, they don’t want to stop too soon, and risk inflation climbing back up as a result. Because of this, the Fed decided to increase the Federal Funds Rate again last week.

Greg McBride, Senior VP, and Chief Financial Analyst at Bankrate, explains how high inflation and a strong economy play into the Fed’s recent decision:...

When you read about the housing market in the news, you might see something about a recent decision made by the Federal Reserve (the Fed).

08/02/2023

How To Know If You’re Ready to Buy a Home

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind.

Instead of trying to time the market, it may help to focus on what you can control. Here are a few questions that can give you clarity on whether you’re ready to make your move.

1. Do You Have a Stable Job?

One thing to consider is how stable you feel your employment is. Buying a home is a big purchase, and you’re going to sign a home loan stating you’re going to pay that loan back. That can feel like a big obligation. Knowing you have a reliable job and income coming in can help put your mind at ease.

2. Have You Figured Out What You Can Afford?

To make sure you have a good idea of what you’ll need to save and what you can expect to spend on your monthly payment, talk to a trusted lender. They’ll be able to tell you about the pre-approval process and what you can borrow, current mo...

If you’re trying to decide if you’re ready to buy a home, there’s probably a lot on your mind.

08/01/2023

Sellers: Don’t Let These Two Things Hold You Back

Many homeowners thinking about selling have two key things holding them back. That’s feeling locked in by today’s higher mortgage rates and worrying they won’t be able to find something to buy while supply is so low. Let’s dive into each challenge and give you some helpful advice on how to overcome these obstacles.

Challenge #1: The Reluctance to Take on a Higher Mortgage Rate

The Advice: Waiting May Not Pay Off

While experts project mortgage rates will gradually fall this year as inflation cools, that doesn’t necessarily mean you should wait to sell. Mortgage rates are notoriously hard to predict. And, right now home prices are back on the rise. If you move now, you’ll at least beat rising home prices when you buy your next home. And, if experts are right and rates fall, you can always refinance later if that happens.

Challenge #2: The Fear of Not Finding Som...

Many homeowners thinking about selling have two key things holding them back.

07/31/2023

Pricing Your House Right Still Matters Today

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low. Data from the National Association of Realtors (NAR) shows 76% of homes sold within a month and the average saw 3.5 offers in June.

The price you set for your house sends a message to potential buyers.

A recent article from NerdWallet sums it up like this: "Your house’s market debut is your first chance to attract a buyer and it’s important to get the pricing right. If your home is overpriced, you run the risk of buyers not seeing the listing . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying pro...

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now.

07/28/2023

Key Housing Market Trends [INFOGRAPHIC]

If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market. Housing inventory is still very low, prices are climbing back up, and homes are selling fast when priced right. If you want more information about our local area and what the trends mean for your plans to buy or sell, let’s connect.

If you’re considering buying or selling a home, you’ll want to know what’s happening in the housing market.

07/27/2023

Why the Median Home Sales Prices Can Be Confusing

The median home sales price can be confusing. Let’s connect so you have an expert to explain what’s really happening with home prices in our area.