Ebert-Sheesley Team

Is Homeownership Still Considered Part of the American Dream? Since the birth of our nation, homeownership has always been considered a major piece of the American Dream. As Frederick Peters reports in Forbes: The idea of a place of one’s own drives the American story. We became a nation out of a desire to slip the bonds of Europe, which was still in many respects a collection of feudal societies. Old rich families, or the church, owned all the land and, with few exceptions, everyone else was a tenant. The magic of America lay not only in its sense of opportunity, but also in the belief that life could in every way be shaped by the individual. People...

How a Change in Mortgage Rate Impacts Your Homebuying Budget Mortgage rates are on the rise this year, but they’re still incredibly low compared to the historic average. However, anytime there’s a change in the mortgage rate, it affects what you can afford to borrow when you’re buying a home. As Sam Khater, Chief Economist at Freddie Mac, shares: Since January, mortgage rates have increased half a percentage point from historic lows and home prices have risen, leaving potential homebuyers with less purchasing power. (See graph below): When buying a home, it’s important to determine a monthly budget so you can plan for and understand what you can...

What It Means To Be in a Sellers’ Market If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market and the optimal time to make sure your house is available for buyers who are looking for homes to purchase. The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is stil...l astonishingly low, sitting at just a 2-month supply at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in...

Latest Jobs Report: What Does It Mean for You & the Housing Market? Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March well above expert projections of 650,000 to 675,000. The unemployment rate fell again and is now at 6%. What does this mean for you? Our lives are deeply impacted by our nation’s economy. The better the economy is doing overall, the better most individuals in the country will do as w...ell. Jason Schenker of Prestige Economics says, "People are getting back to work and the vaccine isn't just inoculating the population, it's clearly inoculating the economy." What does this mean for residential real estate? Today, the biggest challenge for homebuyers is the lack of homes currently for sale. With listing inventory down 52% from a year ago, bidding wars are skyrocketing. As a result, home prices are climbing. One answer to this challenge is to build more homes to...

2021 Real Estate Myth Buster [INFOGRAPHIC] Some Highlights There are a lot of misconceptions about buying or selling a home today, making it challenging to know exactly how to navigate the current real estate landscape.... Here’s a little clarity when it comes to 5 common myths about the 2021 housing market. Let’s connect to discuss your needs and so you can decipher facts from fiction in our local market. See more

Don’t Sell on Your Own Just Because It’s a Sellers’ Market In a sellers’ market, some homeowners might be tempted to try to sell their house on their own (known as For Sale By Owner, or FSBO) instead of working with a trusted real estate professional. Let’s unpack why that’s a big mistake and may actually cost you more in the long run. According to the Profile of Home Buyers and Sellers published by the National Association of Realtors (NAR), 41% of homeowners who tried to se...ll their house as a FSBO did so to avoid paying a commission or fee. In reality, even in a sellers’ market, selling on your own likely means you’ll net a lower profit than when you sell with the help of an agent. The NAR report explains, FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $217,900 in 2020 (up from $200,000 in 2019), and still far lower than the median selling price of all homes at $242,300... See more

Buyer & Seller Perks in Today’s Housing Market Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season. The Biggest Perk for Buyers: Low Mortgage Rates Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year...

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. This year, the Internal Revenue Service (IRS) estimates Americans can expect an average refund of $2,925 when filing their taxes. Thanks to programs from the Federal Housing Authori...ty, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. In addition, Veterans Affairs Loans allow many veterans to put 0% down. You may have heard the common myth that you need to put 20% down when you buy a home, but thankfully for most homebuyers, a 20% down payment isn’t actually required. It’s important to work with your real estate professional and your lender to understand all of your options. Not enough money from your tax...

Buyer Competition Is Good News for Sellers [INFOGRAPHIC] With so many buyers looking for homes to purchase and so few houses available today, there’s a substantial increase in bidding wars, and homes are selling fast. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), on average, houses are receiving over four offers from buyers and they’re selling in less than three weeks. If you’re ready to make a move, let’s connect today so you can sell your house while the market is in your favor.

Why Owning a Home Is a Powerful Financial Decision In today’s housing market, there are clear financial benefits to owning a home: increasing equity, the chance to build your net worth, and appreciating home values, just to name a few. If you’re a renter, it’s never too early to think about how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the... direction of greater financial security and savings. 1. You Won’t Always Have a Monthly Housing Payment Personal finance advisor Dave Ramsey explains: Every payment brings you... See more

Do I Really Need a 20% Down Payment to Buy a Home? Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to come up with 20% of the total sale price for your down payment. This means people who could buy a home may be putting their plans on hold because they don’t have that much saved yet. The reality is, whether you’re looking for your first home or you’ve purchased one before, you most likely don’t need to put 20...

Want to Build Wealth? Buy a Home This Year. Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it’s still more affordable to own than rent in most of the country. There is, however, another financial advantage to owning a home that’s often forgotten in the analysis the wealth built through equity when you own a...

Turn to an Expert for the Best Advice, Not Perfect Advice As we approach the anniversary of the hardships we’ve faced through this pandemic and the subsequent recession, it’s normal to reflect on everything that’s changed and wonder what’s ahead for 2021. While there are signs of economic recovery as vaccines are being issued, we still have a long way to go. It’s at times like these we want exact information about anything we’re doing. That information brings knowledge, and this gives us a sense of relief and comfort in uncertain times. If you’re thinking about buying or selling a home today, the same need for information is very real. But...

3 Must-Do’s When Selling Your House This Year It’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental attachments to the home we’re leaving behind. Growing emotions can help or hinder a sale depending on how we manage them. When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when it’s time to move. Being ...mindful and prepared for the process can help you stay on the right track when selling your house this year. 1. Price Your Home Right When inventory is low, like it is in the... See more

Is Right Now the Right Time to Sell? [INFOGRAPHIC] Some Highlights If you’re on the fence about selling your house, now is a great time to take advantage of sky-high demand, low supply, and fierce buyer competition.... With buyer demand rising and historically low inventory for sale, if you’re in a position to move, your house may really stand out from the crowd. Let’s connect today to get your listing process underway. See more

Here's to a Wonderful 2021!

Four Expert Views on the 2021 Housing Market The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead. Lawrence Yun, Chief Economist, National Association of Realtors (NAR) In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be histo...rically favorable. Danielle Hale, Chief Economist, realtor.com We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high... See more

What Record-Low Housing Inventory Means for You The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of Realtors (NAR) released their Existing Home Sales Report, which shows that the inventory of homes for sale is currently at an all-time low. The report explains: Total housing inventory at the end of December totaled 1.07 million units, down 16.4% from November and down 23% from one year ago (1.39...

Why Selling Your House on Your Own in 2021 Is a Mistake There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following items. 1. Your Safety Is a Priority Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your...

More Generations Are Living Under One Roof This Year This year challenged us to reprioritize everything - from the way we use our time to where we work, how we socialize and gather together, and our needs at home. For many, this also meant making decisions about how to best support and engage with our extended families, near and far. In some cases, we weren’t able to see our relatives and loved ones who were living in senior facilities. In others, maybe older children moved b...ack home. Jessica Lautz, Vice President of Demographics and Behavioral Insights for the National Association of Realtors (NAR), says: A lot of families have an aging senior relative... See more

Why It’s Important to Price Your House Right Today Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes: We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the...