It’s official: Cancelation rates are on the rise. In a lot of markets, around 30% of real estate transactions that go to escrow end up canceling. Since listings with canceled deals often end up selling for less money, what can you do to minimize the chances of your buyer flaking out? As an experienced expert, I’ve dealt with uncertain buyers before. That’s why today, I’m sharing why buyers are leaving deals in this market and explaining what you can do to stop a cancellation before it happens. 

1. Buyer's remorse. The market is definitely slower than it used to be, but that doesn’t mean buyers aren’t feeling pressure to make decisions quickly. Due to market competition, economic news, the election, and a ton of other issues, a lot of buyers want to finalize a deal ASAP. As a result, many of them jump into deals before they’re ready. To prevent this, get your agent to vet potential buyers as well as their agents. If they’re pre-approved and have a strong motivation for moving, they’ll be much more likely to follow through on your home.  

2. Inspection issues. The No. 1 reason why housing transactions fall apart is inspection issues. A buyer might absolutely fall in love with your home and have full intentions of following through, only to have problems come up in the inspection that give them cold feet. This is especially an issue in our current market since buyers don’t have a ton of free cash for repairs due to higher interest rates and prices. To prevent inspection problems from ruining the perfect deal, I highly recommend a pre-listing inspection. This way, you can take care of potential problems upfront and even go into negotiations with more leverage. 

3. Drawn-out negotiations. The longer you spend negotiating, the more chances you give your buyer to walk. In my experience, most drawn-out negotiations are the result of appraisals coming in lower than expected, which can change your buyer's financial situation with their bank. To prevent these problems, work with your agent before you list to find the perfect price that will net you the most money without causing appraisal issues. Plus, your agent should be able to argue for your price to the appraiser using the research they did to find your home’s value. 

If you’re thinking of selling in the near future, you can still get a good deal; you just need to work with an expert. Call or email me today to find your price, whether you want to head to the open market or receive an instant cash offer. I look forward to hearing from you!

If you’re considering selling your home in the near future, how seriously are you thinking about staging? In the real estate industry, it’s widely accepted by experts across different fields that staging nets you more money for your sale, but I’ve spoken to a lot of homeowners who see it as a waste of time and money. If you’re on the fence about staging, here’s the truth: A few thousand dollars upfront can get you a two-to-one return on your investment and save you tons of time in the long run, which is why I always recommend sellers stage their properties. Here are the three most important benefits of staging you don’t want to throw away: 

1. Staging minimizes issues and highlights features. No home is 100% perfect, but staging allows you to move the focus away from your flaws and toward your strengths. Small rooms, dated appliances, and old fixtures can all be mitigated by proper staging. Items that would normally be sticking points at negotiations might be looked over by buyers who are attracted to your property’s highlighted features, so if you want a smooth home sale, I highly recommend staging.

2. Staging turns your home into a shopping experience. Have you ever visited a model home? If you have, you know they have a clean, neutral feel that encourages you to look at the property as a product instead of as a messy place where life happens. Your home probably has some unique personality traits that could be a turn-off for certain buyers. By depersonalizing your home with staging, you can avoid these issues and present your home as a blank slate buyers can project their desires on to. 

No home is 100% perfect, but staging allows you to move the focus away from your flaws and towards your strengths.

3. The data proves staging nets you a great return on investment. There’s a reason why all home experts recommend staging; according to one estimate, putting 1.3% of your sale price into staging can net you an extra 7.1% on your final offer. I know it’s tough to have extra cash lying around when you’re planning a move, but I highly recommend accounting a few extra thousand dollars for staging costs when you prepare to sell your house. Not only will you see a great return, but your home will sell faster and attract more buyers. 

Whether you’re planning on selling soon or years down the road, it pays to plan ahead. Call or email me for a free, no-obligation pre-sale consultation. I’ll go over your neighborhood, the market, staging, and more. I look forward to hearing from you!

Have you noticed a shift in our housing market lately? Homes are taking longer to sell, and prices are volatile nationwide. Depending on where you are, prices could start coming down for the first time in years. This has made many wonder, “Are we finally heading towards a buyer’s market?” My best answer is no; at least, not exactly. Instead, I’d say we’re more likely to head to a balanced market where both sellers and buyers have opportunities if they know what to look for. Here are three things you need to know about our market right now to make sure you get the best deal possible, whether you’re buying or selling: 

1. Why is our market balancing out? Despite record-high home prices and shrinking demand, prices aren’t falling in most areas of the country. While these conditions might make it seem like we’re heading for a buyer’s market, the truth is that prices are being kept in check due to low supply. Inventory has increased nationwide, but this hasn’t been enough to offset the persistent lack of supply in most markets. If inventory continues to rise, the market could eventually favor buyers; however, low supply and low demand are offsetting each other. 

“We have good reason to believe the market will shift soon.”

2. Condition matters. In the current market, there is a huge gap between homes in good condition and those that need work. Due to affordability issues, buyers don’t have extra cash to make repairs after closing. If you don’t make the proper repairs before listing, you could suffer from a lack of demand that makes it feel like you’re in a buyer’s market. On the other hand, if you work with your agent to get your house ready for the market, multiple offers could come in quickly. You might even create a bidding war! Work with your agent and consider a pre-listing inspection, and you can still get an amazing deal on your house. 

3. The market may speed up again soon. While lower activity might make you think we’re heading for a buyers market, we have good reason to believe a shift is right around the corner. Due to worse job reports than expected, most experts believe the Federal Reserve will lower interest rates soon. This will make buying a home more affordable and spur new buyer demand. Tons of would-be buyers have been sitting out of the market waiting for rates to drop, so as soon as the news hits, we could see a fresh wave of demand. 

There will be tons of competition when the Fed finally drops rates. If you want to avoid potential rate drops or are interested in a free pre-listing consultation, please call or email me. I am always willing to help!

Are you planning on selling your home in the near future? Now is a great time to sell; many homeowners have a ton of equity in their properties. However, you should know that selling your home isn’t all profit. There are costs you need to pay that you don’t want to be caught off guard by. That’s why today, I’m sharing a few of the most common costs associated with selling your home and a few things you can do to prepare for them. 

1. Costs before the sale. These are all the things you should do before listing your home on the MLS including items like inspections, repairs, renovations, and cleaning. While most of these things aren’t 100% necessary, every agent will recommend you do them if you want to get the most money possible for your home. For example, a clean home with a few simple repairs and cosmetic upgrades will get way more attention from buyers than a home that’s listed as is. That’s why I always recommend having a pre-listing meeting with your agent to go over which pre-listing costs will improve your sale and fit your budget. 

2. Costs of selling. These are the costs that come with a real estate transaction and include things like listing agent commission, buyer’s agent commission, marketing costs, and more. Depending on who your agent is and what they offer, the cost of their commission could range from 3% to 6%. Plus, many agents also offer different commission packages, so you can customize what type of service you get based on your budget. 

3. Closing costs. These costs go towards transferring the ownership of a property from one person to another and include things like title fees, escrow fees, mortgage insurance, seller concessions, notary fees, and more. While seller concessions can be negotiated, and closing costs can vary based on the value of your property, you can generally expect to pay between 0.5% and 1% of the total sales price at closing. 

Planning for a home sale is a lot of work, but we can help. Just call or email us today, and we’ll help you analyze and break down how much cash you need to sell your home. We look forward to hearing from you!

 Are you looking to sell your home this summer? While we’re still in a strong seller’s market, there is a widening gap between homes that are ready for the market and those that aren’t. If you want your home to be a winner on the open market, you probably need to make your home as ready and attractive to buyers as possible. It’s proven that the more showings you have, the more likely you are to have a faster sale and net a higher price. That’s why today, I’m sharing three ways you can get your house ready for showings this summer: 

1. Take care of minor repairs upfront. Right now, buyers’ number one concern is higher interest rates and affordability. As a result, they want to put as much money down as they can to lower their monthly payments. This means that if you take care of repairs upfront, buyers will be more interested in your house and might even be willing to pay a premium. Taking care of cosmetic repairs upfront is a good idea even in a normal market, but higher interest rates mean this step is more important than ever. 

2. Do some staging. Think about a model home: It’s clean, standardized, and impersonal. Your goal should be to get as close to that image as possible. Your home likely has a lot of personalized touches, like odd furniture, family photos, or maybe even an off-colored wall. I recommend trying to depersonalize your home as much as possible so prospective buyers can picture themselves living in your property. Plus, by packing everything away, you’ll make moving easier once you sell your house. 

3. Have a plan for children and pets. Your showings probably won’t go smoothly if your dog or young children are running around. Instead, work with your agent to create a showing schedule with blocks of time when your home is ready for buyers. This way, you and your buyers won’t be disrupted. I recommend putting dogs in kennels just for the short time when you’ll be having showings. While moving your pets around might be a little work, it’s worth it to keep your house in pristine condition when buyers are viewing it. 

If you want a detailed showing plan or list of repairs to make before you list your home, please call or email me. I’d love to help you navigate this housing market!

Paul Brouillette | LAER Realty

 As we head further into the summer real estate market, tons of people have been asking me, “What’s going on in the market right now?” I get it; if you’re looking to move in the near future, you want to be informed about what’s happening with real estate. The truth is that home prices are still high in most areas; however, they’re starting to come down in a few places that were most affected by the pandemic boom market. While we don’t know for sure what this means for the country at large, it might be safer to make a move sooner rather than later. With that in mind, I’m sharing three key points about our housing market you need to know if you’re planning on making a move this summer: 

1. There is a severe lack of inventory. Right now, a lot of people who would otherwise sell their homes are staying put because they have a low interest rate locked in with their current mortgage. As a result, inventory is incredibly low, and you’ll have way less competition than normal. Because of this, you can still sell quickly and at a good price as long as you work with your agent to build a strong marketing strategy. 

2. Buyers are very motivated. Right now, buyers across the country are as serious about purchasing your home as any I’ve ever seen. Think about it: Interest rates are still high, and home prices haven’t come down to compensate. If someone is looking at purchasing a home right now, it’s because they really need to move. This means you won’t have to deal with window shoppers, and you won’t have to have as many showings before you find someone willing to offer you a great deal. 

3. Pricing and condition are critical. Buyers are motivated right now, but that means they won’t put up with overpriced or poor-quality homes. On the other hand, they will be willing to pay a premium if your home is in good condition. Take the time to work with your agent and fix minor repairs before you put your home on the open market. Also, work together to find a price that fits your local market—one that isn’t too high or too low. 

You can still get a good deal this summer, but the future of our market is uncertain. If you have questions about where things might be heading or are interested in selling your home, call or email me. I’d love to hear from you!

Paul Brouillette | LAER Realty

Discussing the three ways that real estate can make you rich.

Are you looking for ways to generate passive income? Investing in real estate can be a powerful strategy to build your wealth. Today, I’m sharing with you three main ways that you can gain wealth through real estate, as well as other perks and advantages that you can enjoy as an investor: 1. Rental income. Generating rental income is a great way to make money in real estate. As property values and rents tend to rise over time, your cash flow can increase as well. Real estate investors will significantly benefit from rental income and profits from property-dependent business activity appreciation. 2. Property appreciation. One of the greatest benefits of real estate investment is property appreciation. Over time, real estate values generally increase, allowing you to profit when it's time to sell. A well-chosen investment property can significantly appreciate, adding to your overall wealth.

"Choosing your assets wisely will help you build wealth from real estate."

3. Real Estate Investment Trusts. This offers a way to invest in real estate without owning, operating, or managing properties. This type of investment is usually preferred by investors who are in their later years and have decided to become less involved with hands-on property management. While REITs might provide slightly lower profitability compared to direct property management, they offer the benefits of real estate investment without the hassle and stress of day-to-day responsibilities. If you choose your assets wisely, you can also enjoy the following benefits as a real estate investor: predictable cash flows, excellent return on investment tax advantages; diversification; and most importantly, you can build wealth by leveraging real estate, drawing from property appreciation and equity growth to expand your investment portfolio. So, if you’re interested in exploring investment opportunities, or if you have any questions about real estate and real estate investment, feel free to reach out by calling 978-256-3306 or visiting our website at www.homesareus.com. I would love to help you out with any of your real estate needs and goals. I look forward to hearing from you!

Key homebuyers’ benefits from partnering with buyer’s agents.

Buying a home is a big decision, and so is hiring a buyer’s agent, especially if you’re working on a tight budget. If you’re worried about this, you have to know that the advantages and benefits of having the proper representation when buying a home exceed the costs of hiring a real estate professional. You don’t buy a home every day, and sometimes, when you’re fully settled and satisfied in the home you purchased, you may only buy a home once. Make sure that your home-buying experience is completely stress-free so you can fully enjoy the excitement of buying a house. Today, I’m going to help you make the best decision in home buying by sharing with you what you will gain by hiring a buyer’s agent: Before you start the buying process, buyer’s agents will help you to schedule an evaluation with a reputable lender. Lenders can determine your maximum affordability, minimum income requirements, and potential tax advantages based on your overall circumstances. But, not all lenders are the same, and a good buyer’s agent will be able to recommend the best lender for you. Agents will also be able to help you establish the ideal price range for your home in the ideal community for you and your family without exceeding your budget. Agents know all the fees associated with buying a home, so they will be able to factor that in before you start searching for homes. This will save you a lot of time and effort.

"Buyer’s agents will help you get the most bang for your buck."

But not all agents are the same–all Realtors are agents, but not all agents are Realtors. It’s important for you to be able to distinguish between the two, as Realtors take an oath to abide by the code of ethics in real estate. The code of ethics means realtors have a fiduciary duty to represent you responsibly and ensure that you avoid purchasing a home in the wrong location, or a home with features that are not ideal for you or your family. Since competition is high in the market, buyer’s agents can help you write a good offer, as this will increase your chances of buying the property that you want. Writing a good offer takes skill, and that skill involves training and years of experience that only buyer’s agents have. Lastly, a buyer’s agent will be able to point out property and contract contingencies, mostly those that revolve around your financing situation and property appraises if you are bidding for a property. Buyer’s agents are well versed in handling the crucial parts of the home buying process to ensure that you don’t end up exceeding your budget, and avoid financial burden and financing issues in the future. So, if you’re planning to buy a home, call or text me anytime at 978-256-3306 or email me at [email protected]. For more information, you may also view our website at http://www.homesareus.com.

Breaking down how affordability has shifted in the 2024 market.

As we approach the spring homebuying season, many are wondering when home prices will become affordable again. Let's delve into the current landscape and explore some key insights. Signs suggest that buying and selling activity may not flourish as expected. High mortgage rates and soaring home prices, coupled with historically low housing stock, continue to push homeownership out of reach for many, particularly first-time buyers. Recent fluctuations in mortgage rates have further dampened the already tentative homebuying momentum. While U.S. home prices experienced a slight decline in December for the second consecutive month, the year-over-year data tells a different story, with prices jumping by 5% according to the S&P CoreLogic Case Shiller Home Price index. This paradox illustrates the challenge facing prospective buyers as they navigate a market where prices continue to rise despite affordability concerns.

"Signs suggest that buying and selling activity may not flourish as expected."

Looking ahead, industry experts like CEO and founder Rick Sharga of C.J. Patrick highlight the crucial role of mortgage rates in influencing the supply of existing homes for sale. Until rates return to more favorable levels around 5%, meaningful increases in housing inventory may remain elusive. On the front of new construction, the National Association of Homebuilders' sentiment, as measured by the Wells Fargo Housing Market Index, shows promise with a rise from 44% to 48%, nearing the threshold of 50%. This uptick signals optimism among builders, potentially paving the way for increased housing supply in the future. While the spring market typically ushers in a flurry of activity, the current dynamics present challenges for prospective buyers. For those seeking guidance or assistance in navigating the real estate market, we're here to help. Feel free to call us or send us an email for any questions or support.

Discover the true worth of your home with expert valuation insights.

Determining the value of your home is a crucial step for any homeowner, especially if you're considering selling or refinancing. While the internet offers quick answers through various websites like Zillow, Realtor.com, and others, these generic evaluations often miss the mark by not accounting for the nuances that can significantly impact your home's worth. Online valuation tools provide a broad estimate of your property's value by aggregating data from different sources. However, these estimates can be inaccurate due to several factors. For a precise and accurate valuation of your home, consulting with a real estate professional is the way to go. A local agent brings several advantages to the table:

- Expertise in the Local Market: Real estate agents have up-to-date knowledge of the local market dynamics, including inventory levels and buyer demand.

- Personalized Evaluation: They can assess your home's unique features and condition, providing a tailored valuation.

- Market Shift Insights: Agents are equipped to understand and interpret market shifts, ensuring your home's value reflects the current market conditions.

"While online tools can offer a starting point, they should not be the sole resource for determining your home's value."

While online tools can offer a starting point, they should not be the sole resource for determining your home's value. For homeowners seeking an accurate and serious evaluation, the expertise of a real estate agent is invaluable. Their on-the-ground experience and knowledge of market trends ensure you receive a reliable assessment of your property's worth. If you have questions about your home's value or need expert advice, don't hesitate to call or send us an email. Thank you for your attention, and we're here to help with any inquiries you may have.