Eileen Wilcott Realtor

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Americans Choose Real Estate as the Best Investment [INFOGRAPHIC] According to a Gallup poll, real estate has been rated the best long-term investment for eight years in a row. Real estate tops the list because you’re not just buying a place to call home you’re investing in your future. Real estate is typically considered a stable and secure asset that can grow in value over time. DM me today if you’re ready to make real estate your best investment this year. Eileen Wilcott Realtor

Buyers Want To Know: Why Is Housing Supply Still So Low? One key question that’s top of mind for homebuyers this year is: why is it so hard to find a house to buy? The truth is, we’re in the ultimate sellers’ market, so real estate is ultra-competitive for buyers right now. Here’s a look at two reasons why today’s housing supply is low and what that means for you. >>New Home Construction Fell Behind for Several Years... Builders exceeded the long-term average for housing units completed during the housing bubble. The result was an oversupply of homes on the market, so home values declined. That was one of the factors that led to the housing crash back in 2008. Since then, the level of new home construction has fallen off. For the last 13 straight years, builders haven’t been able to construct enough homes to meet the historical average. That underbuilding left us with a multi-year inventory deficit going into the... Eileen Wilcott Realtor

With Mortgage Rates Climbing, Now’s the Time To Act Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Here’s a look at the projections from Freddie Mac for this year: >>Q1 2022: 3.4%... >>Q2 2022: 3.5% >>Q3 2022: 3.6% >>Q4 2022: 3.7% As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the year. But what does that really mean for you? As rates increase even modestly, they impact your monthly mortgage payment and overall affordability. If you’re looking to buy a home, rising mortgage rates should be an incentive to act sooner rather than later. The good... Eileen Wilcott Realtor

Sellers: Don’t Wait Until Spring To Make Your Move How do you know when to make your move? You want to time it just right so you can get the most out of the sale of your current house. You also want to know you’re making a good investment when you buy your new home. That opportunity to get the best of both worlds is already here. You don’t want to wait until spring to spring into action. The current market conditions make this winter an ideal time to move. Here’s why. >>The N...umber of Homes on the Market Is Still Low Today’s limited supply of houses for sale is putting sellers in the driver’s seat. Selling now may help you maximize the return on your investment before your house has to face more competition from other sellers. >>Your Equity Is Growing in Record Amounts Current homeowners are sitting on record amounts of equity thanks to today’s home price appreciation. It may be just what you need to cover a large... Eileen Wilcott Realtor

Achieving the Dream of Homeownership With a trusted real estate advisor at your side, you can begin your journey toward homeownership by answering the questions below. >>Where Do I Start?... The process of buying a home is not one to enter into lightly. You need to decide on key things like how long you plan on living in an area, how much space you need, what kind of commute works for you, and how much you can spend. Then, when you decide you’re ready to buy, you’ll need to apply for a mortgage. >>How Do I Save Enough for a Down Payment? According to Business Insider, automatic savings can bring you one step closer to achieving your target down payment. Before you know it, you’ll have enough for a down payment if you’re disciplined and thoughtful about your process. And the best part is, you may need to save less for your down payment than you think. Your agent and lender can help you understand your options. >> How Can I... Eileen Wilcott Realtor

When Is the Right Time To Sell [INFOGRAPHIC] If you’re trying to decide when to list your house, the time is now. There are plenty of buyers eagerly waiting for your home to hit the market. The latest data indicates home showings are rising. There are more buyers than homes for sale right now. That means you’ll likely receive multiple offers, and your home won’t be on the market long. Today’s market favors sellers. If you’re ready to move, let’s connect to discuss the benefits you can expect when you sell this season. Eileen Wilcott Realtor

What’s Going To Happen with Home Prices This Year? After almost two years of double-digit increases, many experts thought home price appreciation would decelerate or happen at a slower pace in the last quarter of 2021. However, the latest Home Price Insights Report from CoreLogic indicates while prices may have plateaued, appreciation has definitely not slowed. Appreciation has remained steady at around 18% over the last five months. In addition, the latest S&P Case-Shiller P...rice Index and the FHFA Price Index show a slight deceleration from the same time last year it's just not at the level that was expected. However, they also both indicate there’s continued strong price growth throughout the country. FHFA reports all nine regions of the country still experienced double-digit appreciation. The Case-Shiller 20-City Index reveals all 20 metros had double-digit appreciation. Why haven’t we seen the deeper deceleration... Eileen Wilcott Realtor

Two Ways Homebuyers Can Win in Today’s Market If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are ways you can win and secure the home of your dreams, even in a hot market. >>Act Early and Save... The earlier you act this year, the more affordable your purchase will be. That’s because experts project mortgage rates and home prices will rise as we move deeper into 2022. That means the longer you wait, the more it will cost you to buy a home. Instead, act early and purchase your home before rates and prices rise further. Not to mention, the sooner you buy, the sooner you can experience the benefits of continued home price appreciation yourself. Once you have your home, you’ll be able to watch its value rise, giving you confidence that your investment is a sound one. >>Buy Now, Move Later Keep in... Eileen Wilcott Realtor

Why Inflation Shouldn’t Stop You from Buying a Home in 2022 If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And whil...e home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022. Home prices have been increasing for quite some time, and experts say they’re going to continue to climb throughout 2022. Buying a home allows you to lock in your monthly mortgage payment for the foreseeable future. That means as other prices rise, your monthly payment will be consistent thanks to your fixed-rate mortgage. This... Eileen Wilcott Realtor

Real Estate Professionals Are Experts at Keeping You Safe When You Sell If you’re on the fence about selling your house this year, there’s good news. For nearly two years, real estate professionals have worked tirelessly to ensure the safety of buyers and sellers during the pandemic. Today, they’re seasoned experts, not just in the art of buying and selling homes, but also in how to keep you safe throughout the process. Real estate professionals have learned new technologies ...plus safety and sanitation measures. As new variants emerge, those lessons continue to be key ways agents add value. Agents don’t leave your health up to chance. They follow guidance from the CDC and NAR to ensure in-person showings are safe. NAR maintains industry-specific resources to ensure agents are informed on the latest recommendations and best practices. Guidance from the CDC also equips real estate professionals with the know-how to employ... Eileen Wilcott Realtor

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC] If you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals. It’s important to start working on your credit and saving for a down payment early. When you’re ready to begin your search, work with a real estate professional and get pre-approved so you know how much you can borrow. DM me so you have the guidance you need to achieve your homebuying goals this year. Eileen Wilcott Realtor

There Won’t Be a Wave of Foreclosures in the Housing Market Here’s why there won’t be a wave of foreclosures in the housing market. >>There Are Fewer Homeowners in Trouble This Time... After the last housing crash, over nine million households lost their homes. Many believed millions of homeowners would face the same fate again this time. However, today’s data shows most homeowners exited their forbearance plan either fully caught up on payments or with a plan from the bank that restructured their loan in a way that allowed them to start making payments again. >>Those Left in the Program Can Still Negotiate a Repayment Plan As of last Friday, the total number of mortgages still in forbearance stood at 890,000. Those who remain in forbearance still have the chance to work out a suitable plan with the servicing company that represents their lender. >>Most Homeowners Have More Than Enough Equity To Sell Their Homes For those... Eileen Wilcott Realtor

Why Waiting To Sell Your House Could Cost You a Small Fortune Here are five reasons to list your house now rather than waiting until the spring. >>Buyers Are Looking Right Now, and They’re Ready To Purchase... The latest ShowingTime Showing Index reveals that buyers are still very active in the market. Also, at this time of year, only those purchasers who are serious about buying a home will be in the market. >>Other Sellers Plan To List Earlier This Year The law of supply and demand tells us that, if you want the best price possible and to negotiate your ideal contract terms, put your house on the market when there’s strong demand and less competition. >>Newly Constructed Homes Will Be Your Competition in the Spring In 2020, there were over 979,000 new single-family housing units authorized by building permits. Many of those homes have yet to be built because of labor shortages and supply chain bottlenecks brought on by the... Eileen Wilcott Realtor

Avoid the Rental Trap in 2022 Are you one of the many renters thinking about where you’ll live the next time your lease is up? Before you decide whether to look for a new house or another apartment, it’s important to understand the true costs of renting in 2022. As a renter, you should know rents have been rising since 1988. The increase in 2021 was far greater than the typical rent increases we’ve seen in recent years. In other words rents are rising fast. And the 2022 Nat...ional Housing Forecast from realtor.com projects prices for vacant units will continue to increase this year. That means, if you’re planning to move into a different rental this year, you’ll likely pay far more than you have in years past. If you’re a renter facing rising rental costs, you might wonder what alternatives you have. If so, consider homeownership. One of the many benefits of homeownership is it provides a stable monthly cost you can... Eileen Wilcott Realtor