First time home buyers

02/22/2024

Over the past few months, experts have revised their 2024 home price forecasts based on the latest data and market signals. And now, they’re even more confident prices will rise, not fall. If you’re curious about what that means for prices in our area, let’s connect.

02/20/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

Bridging the Gaps on the Road to Homeownership

Homeownership is a major part of the American Dream. But, the path to achieving this dream can be quite difficult. While progress has been made to improve fair housing access, households of color still face unique challenges on the road to owning a home. Working with the right real estate experts can make all the difference for diverse buyers.

It's clear that achieving homeownership is more challenging for certain groups because there’s still a measurable gap between the overall average U.S. homeownership rate and that of non-white groups.

According to a report by the National Association of Realtors (NAR), almost half of Black homebuyers in 2023 were first-time buyers. That means many didn’t have home equity they could use toward their home purchase.

That...

Homeownership is a major part of the American Dream.

02/18/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

Don’t Let the Latest Home Price Headlines Confuse You

Based on what you’re hearing in the news about home prices, you may be worried they’re falling. But here’s the thing. The headlines aren’t giving you the full picture.

If you look at the national data for 2023, home prices actually showed positive growth for the year.

The overarching story is that prices went up last year, not down. Let’s dive in to the data to set the record straight.

2023 Was the Return to More Normal Home Price Growth

If anything, last year marked a return to more normal home price appreciation. To prove it, here’s what usually happens in residential real estate.

In the housing market, there are predictable ebbs and flows that take place each year. It’s called seasonality. Home prices follow along with this seasonality because...

Based on what you’re hearing in the news about home prices, you may be worried they’re falling.

02/15/2024

Thinking about selling your house soon? Here's a helpful tip: Make sure your home is available for showings as much as you can. To make it easier, think ahead and have a go-to spot nearby where you can hang out for a bit if you need to step out during showings. Let's chat about your plans and ensure you navigate the selling process with confidence and ease.

02/13/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

What’s Really Happening with Mortgage Rates?

Are you feeling a bit unsure about what’s really happening with mortgage rates? That might be because you’ve heard someone say they’re coming down. But then you read somewhere else that they’re up again. And that may leave you scratching your head and wondering what’s true.

The simplest answer is: that what you read or hear will vary based on the time frame they’re looking at. Here’s some information that can help clear up the confusion.

Mortgage Rates Are Volatile by Nature

Mortgage rates don’t move in a straight line. There are too many factors at play for that to happen. Instead, rates bounce around because they’re impacted by things like economic conditions, decisions from the Federal Reserve, and so much more. That means they might be up one day and down the...

Are you feeling a bit unsure about what’s really happening with mortgage rates?

02/11/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

Why Having Your Own Agent Matters When Buying a New Construction Home

Finding the right home is one of the biggest challenges for potential buyers today.

But it’s important to remember the process of working with a builder is different than buying from a homeowner. And, while builders typically have sales agents on-site, having your own agent helps make sure you have proper representation throughout your homebuying journey.

Agents Know the Local Area and Market

One way a real estate agent can help is by reviewing the builder's site plan. For example, you’ll want to know if there are any plans to construct a highway or add a drainage ditch behind your prospective backyard.

Knowledge of Construction Quality and Builder Reputation

An agent give you insights into each one's track record, customer satisfaction, and...

Finding the right home is one of the biggest challenges for potential buyers today.

02/08/2024

Have you thought about buying a home but worry you can’t afford it? Just recently, the key factors influencing your ability to purchase a home – mortgage rates, home prices, and wages – have started moving in a positive direction. Let’s connect to discuss if now’s a good time for you to start your journey to homeownership.

02/06/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

Houses Are Still Selling Fast

Have you been thinking about selling your house? If so, here’s some good news. While the housing market isn't as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.

The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years.

According to Realtor.com: “Homes spent 69 days on the market, which is three days shorter than last year and more than two...

Have you been thinking about selling your house?

02/01/2024

Great news for those awaiting favorable mortgage rates before making a move. They’ve been trending downward in recent months and projections indicate they’re likely to decline further throughout 2024. That means new opportunities for both buyers and sellers. Want to know how changing mortgage rates might shape your moving plans? DM me today.

01/30/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

2 of the Factors That Impact Mortgage Rates

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?

The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.

Inflation and the Federal Reserve

The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.

Fortunately, the expert outlook for inflation and mortgage rates is that both should become more favorable over...

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates.

01/28/2024

M Square likes to keep you informed. We love to be part of your journey in making your house a HOME!!

The Top Benefits of Buying a Multi-Generational Home

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind? If so, you’re not alone. More buyers are choosing to go this route and buy a multi-generational home. Here’s a look at some of the top reasons why, to see if a home like this may be right for you too.

Why Buyers Are Opting for Multi-Generational Living

According to the National Association of Realtors (NAR), two of the top reasons buyers are opting for multi-generational homes today have to do with affordability.
First-time buyers are focused most on cost savings – with 28% saying this was a key reason for them. By pooling their resources with others, they can share financial responsibilities like mortgage payments, utilities, and more to...

Has the idea of sharing a home with loved ones like your grandparents, parents, or other relatives crossed your mind?

01/27/2024

Starting out on your home buying journey and feeling a bit lost in the lingo? Let's simplify the process and boost your confidence. Here's your go-to guide, breaking down the language of home buying. DM me today with any questions you have.