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Young Asian couple in detailed consultation with real estate agent, who is highlighting advantages of home with solar panels. Consulting on Eco-Friendly Home Ownership with Real Estate Agent.

<h2>Understanding the Importance of Choosing the Right Real Estate Company</h2><p>When it comes to buying or selling a property, many people wonder how crucial it is to choose the right real estate company. The short answer is: it matters a great deal. The right real estate company can make a significant difference in your experience and the outcome of your transaction. From guiding you through the complexities of paperwork to negotiating the best deal, a good real estate agency can be your greatest ally.</p><p>Real estate transactions are often the most significant financial decisions people make in their lives. Whether you are a first-time buyer or a seasoned investor, having a knowledgeable and trustworthy real estate professional by your side can save you time, effort, and money. But how do you choose the right one?</p><figure id="figure-uuvto20yiam8f33jjg"><img id="uuvto20yiam8f33jjg" src="https://cdn.durable.co/getty/2djPYii5ya5xwhdcPQQCWA7sgiulqkoVsl5lsnDQzOyyMlIfPKtbl2LjTCEdwz63.jpeg" alt="real estate agent" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/2djPYii5ya5xwhdcPQQCWA7sgiulqkoVsl5lsnDQzOyyMlIfPKtbl2LjTCEdwz63.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Factors to Consider When Choosing a Real Estate Company</h2><h3>Reputation and Track Record</h3><p>A company's reputation is often built on years of experience and a proven track record of successful transactions. Look for reviews and testimonials from past clients. A reputable company will have positive feedback and a history of satisfied customers. Don't hesitate to ask for references or case studies to better understand their success stories.</p><h3>Market Knowledge</h3><p>The real estate market is dynamic and ever-changing. A company with in-depth knowledge of current market trends, property values, and neighborhood developments can provide valuable insights that help you make informed decisions. Ensure the company you choose has a strong understanding of the local market in which you are interested.</p><figure id="figure-j6an5ei05gm8f33nfu"><img id="j6an5ei05gm8f33nfu" src="https://cdn.durable.co/getty/32iK5ojFf4YolO2qObQ1Q21YRFVUhsO9yZw6X7YhnTofKo92NUWFtVksQmEYZnSO.jpeg" alt="real estate market" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/32iK5ojFf4YolO2qObQ1Q21YRFVUhsO9yZw6X7YhnTofKo92NUWFtVksQmEYZnSO.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>The Role of Communication and Support</h2><h3>Effective Communication</h3><p>Communication is key in any business relationship, and real estate is no exception. The right company will keep you informed throughout the entire process, from the initial consultation to closing the deal. They should be responsive, available to answer your questions, and proactive in keeping you updated on any developments.</p><h3>Comprehensive Support</h3><p>A full-service real estate company will offer more than just buying and selling support. They may provide services like property management, mortgage advice, and relocation assistance. These additional services can be incredibly beneficial, especially if you're navigating the real estate market for the first time.</p><figure id="figure-2vt4mije1rm8f33sf4"><img id="2vt4mije1rm8f33sf4" src="https://cdn.durable.co/getty/38Sx0D88BmKP9yDDmYe3ezpUJftRxal7bgSBwyxsjDWdWapuz6rJJldpXGGAXGzm.jpeg" alt="real estate support" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://cdn.durable.co/getty/38Sx0D88BmKP9yDDmYe3ezpUJftRxal7bgSBwyxsjDWdWapuz6rJJldpXGGAXGzm.jpeg" data-mce-style="aspect-ratio: 16/9;"></figure><h2>Technology and Innovation in Real Estate</h2><p>In today's digital age, technology plays a pivotal role in real estate transactions. Companies that leverage modern tools such as virtual tours, online listings, and digital paperwork can provide a more seamless and efficient experience. Look for a company that embraces technology to make your buying or selling process more convenient.</p><p>Furthermore, innovative companies often use data analytics to give clients an edge in competitive markets. By utilizing big data, these companies can provide insights into pricing strategies, buyer behavior, and market trends, helping you stay ahead of the competition.</p><h2>Conclusion: Making an Informed Decision</h2><p>Choosing the right real estate company is indeed a critical decision that can impact the success of your property transaction. By considering factors such as reputation, market knowledge, communication, support services, and technological innovation, you can make an informed choice that aligns with your needs and goals.</p><p>Remember, the right real estate company will not only guide you through the complexities of the market but also ensure that your investment is sound and your experience is positive.</p>

Choosing the Right Real Estate Company: Does It Matter?

Calendar and piggy bank on blue background

<h3>Maximizing Your Home Sale: Timing and Strategies for Western Washington Sellers</h3><p>Selling your home at the optimal time can significantly impact both the speed of the sale and the final sale price. In Western Washington, particularly in cities like Seattle, timing your listing to align with peak market activity can lead to favorable outcomes.</p><figure id="figure-pnsisym8cm8c4c9q7"><img id="pnsisym8cm8c4c9q7" src="https://media.gettyimages.com/id/478534138/photo/spring-alpine-meadow-in-mt-rainier-national-park-wa.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=mWUQgt-6mesAhu77BMw_Pc-G4O1VUJSgUA3y9LRP0Gk=" alt="Spring alpine meadow in Mt Rainier National Park,WA" title="Spring alpine meadow in Mt Rainier National Park,WA" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="Mt. Rainier in Spring" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://media.gettyimages.com/id/478534138/photo/spring-alpine-meadow-in-mt-rainier-national-park-wa.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=mWUQgt-6mesAhu77BMw_Pc-G4O1VUJSgUA3y9LRP0Gk=" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"><figcaption class="body-normal text-gray-500 mt-2">Mt. Rainier in Spring</figcaption></figure><h3>Optimal Months to List in Western Washington</h3><p>Multiple studies suggest that late spring and early summer are prime times to list your home in Western Washington. For instance, a Zillow analysis indicates that nationwide, homes listed in the second half of May sold for an average of 1.6% above expected prices. However, regional variations exist; in Seattle, the best returns were observed for homes listed in the second half of March. </p><p>Additionally, data from HomeLight reveals that in Seattle, April is the best month to list for a higher sale price, with homes selling for 3.4% more than the annual average. March listings, on the other hand, tend to sell 8 days sooner than the yearly average. </p><p>In my experience, May seems to be the busiest time of year for listings. We have seen more homes sell with multiple offers in May than other months. June is often busy as well until July 4th when buyers seem to all go out of town at once causing listed homes to take longer to sell.&nbsp;</p><figure id="figure-cc2g5mtnosm8c4hcf2"><img id="cc2g5mtnosm8c4hcf2" src="https://media.gettyimages.com/id/952092792/photo/front-door.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=o8LeMdddnNrEUK4vUP0M8g_3F7_WJbz2Cpsfz-SFi2M=" alt="Front Door of new home" title="Front Door of new home" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: undefined undefined;" data-corners="default" data-aspect="16:9" data-caption="Updating for curb appeal to sell a home" data-positionx="undefined" data-positiony="undefined" data-fullwidth="false" data-mce-src="https://media.gettyimages.com/id/952092792/photo/front-door.jpg?b=1&amp;s=2048x2048&amp;w=0&amp;k=20&amp;c=o8LeMdddnNrEUK4vUP0M8g_3F7_WJbz2Cpsfz-SFi2M=" data-mce-style="aspect-ratio: 16/9; object-position: undefined undefined;"><figcaption class="body-normal text-gray-500 mt-2">Updating for curb appeal to sell a home</figcaption></figure><h3>Strategies to Enhance Your Home Sale</h3><p>Beyond timing, implementing effective strategies can further boost your sale's success:</p><p><strong>Curb Appeal:</strong> First impressions matter. Simple enhancements, like upgrading your front door, can increase your home's value by up to $40,000. A stylish, well-maintained front door enhances curb appeal, creating a positive first impression. citeturn0news21</p><p><strong>Professional Photography:</strong> High-quality images and virtual tours attract more buyers. Ensuring your listing includes high-resolution photos and interactive features can make your home stand out online.</p><p><strong>Strategic Pricing:</strong> Setting the right price from the start is crucial. Overpricing can lead to extended market time and potential price reductions, while underpricing might leave money on the table. Consulting with a local real estate expert can help determine the optimal listing price.</p><p><strong>Conclusion</strong></p><p>While late spring and early summer present favorable opportunities for selling your home in Western Washington, it's essential to tailor your approach to your specific circumstances and local market nuances. Collaborating with a knowledgeable real estate agents (that would be us) can provide personalized insights and strategies to ensure a successful sale keeping your specific needs in mind.&nbsp;</p><p><br></p><p><br></p>

What is the best month to list a home for sale?

white steel chair in front round table on white rug

<p>When it comes to buying a house, one of the biggest financial considerations is the down payment. The down payment is the initial amount of money you put towards the purchase of a home. It is typically a percentage of the total cost of the house and is paid at the time of closing.</p><figure id="figure-q9wauktdaqloumq57e"><img id="q9wauktdaqloumq57e" src="https://cdn.durable.co/shutterstock/33BvE6NV6wT6j9V2tP1kD8Z4tlVS15wwbo63Q3QVsJ1FP8q93cGPzfO0XM7N0xNV.jpeg" alt="close up stack of  coin and toy wooden house on old wood table with blue alarm clock background, green nature copy space for text, saving money for building, manage time for success business" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="Saving for a home takes time. " data-positionx="undefined" data-positiony="undefined" data-mce-src="https://cdn.durable.co/shutterstock/3nYAbQiUF8Fj84o4OBnptAGrg96arnom3s3RweDN48EKqVZefi4oG6pxxNDYna8Y.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"><figcaption class="body-normal text-gray-500 mt-2">Saving for a home takes time.</figcaption></figure><p><br></p><p><strong>So, how much is a down payment on a house?</strong> The answer to this question can vary depending on several factors, including the price of the house, the type of mortgage you choose, and your financial situation. In general, a down payment is usually between 3.5% and 20% of the total purchase price.</p><p>For example, if you are buying a house that costs $300,000 and you make a 10% down payment, you would need to pay $30,000 upfront. The remaining $270,000 would be financed through a mortgage.</p><p><strong>Why is the down payment important?</strong> The down payment plays a crucial role in the homebuying process. It not only reduces the amount of money you need to borrow, but it also demonstrates to lenders that you are committed to the purchase and have the financial means to make regular mortgage payments.</p><p>Additionally, a larger down payment can help you secure a better interest rate on your mortgage. Lenders often offer lower rates to borrowers with a higher down payment because they see them as less risky.</p><figure id="figure-y31iq5kpysloumt075"><img id="y31iq5kpysloumt075" src="https://cdn.durable.co/shutterstock/36aajoSRISYlKGlYIgb7mFulyUi3nAPejLOEbdcqhlLQG6fOKldgtwXaCSdQdvk4.jpeg" alt="hand putting coin money to piggy bank saving, save money concept.Real estate sale, home savings, loans market concept." class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="Saving for a down payment on a home" data-positionx="undefined" data-positiony="undefined" data-mce-src="https://cdn.durable.co/shutterstock/0nzAOselckkPAoaMBE6blyziirZONwKBCDovXI4E7mf70vbZsnsG6ZyALZBplgBI.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"><figcaption class="body-normal text-gray-500 mt-2">Saving for a down payment on a home</figcaption></figure><p><br></p><p><strong>How can you save for a down payment?</strong> Saving for a down payment may seem like a daunting task, but there are several strategies you can use to reach your goal:</p><ol><li>Set a budget and prioritize saving for your down payment.</li><li>Reduce your expenses by cutting back on non-essential items.</li><li>Consider getting a second job or taking on freelance work to increase your income.</li><li>Automate your savings by setting up automatic transfers to a separate savings account.</li></ol><p>Remember, the more you can save for a down payment, the better off you will be in the long run.</p><figure id="figure-6teire2mnloumwsdj"><img id="6teire2mnloumwsdj" src="https://cdn.durable.co/shutterstock/3ap3Fcsvid4rJqzD8w9W0okp7yUqUBJQm4HqEAPbNxKJa5R3fdUWoiFRrVYdgEhJ.jpeg" alt="Real estate agents holding model house and keys for submit documents for customers to sign for a sale contract,real estate concept." class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="Get a house with a lower down payment" data-positionX="undefined" data-positionY="undefined"/><figcaption class="body-normal text-gray-500 mt-2">Get a house with a lower down payment</figcaption></figure><p><br data-mce-bogus="1"></p><p><strong>Are there other options to cover a down payment?</strong> While a down payment of 3.5% to 20% is the norm, there are alternative options available for those who need it. With prices of homes on the rise it can be difficult to save and feel like your chasing a moving target.&nbsp;</p><ul><li>Government programs: Some government-backed loan programs, such as USDA and VA loans, offer low or no down payment requirements.</li><li>Gift funds: You may be able to use gift funds from a family member or close friend to cover all or part of your down payment.</li><li>Down payment assistance programs: These programs provide financial assistance to eligible homebuyers to help cover their down payment and closing costs.</li></ul><p>It's important to research and explore your options to determine the best fit for your situation. This is where a conversation with one of our prefered lenders can really help you plan for the future.&nbsp;</p><p><strong>In conclusion,</strong> the down payment on a house is a significant financial commitment that can vary depending on various factors. It is important to save and plan ahead to ensure you have enough funds to cover the down payment and secure your dream home.</p><figure id="figure-057a4nigbloumh4ht"><img id="057a4nigbloumh4ht" src="https://images.unsplash.com/photo-1613553366367-ffa00d61d56d?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw4fHxob3VzZSUyMGtleXN8ZW58MHx8fHwxNjk5NzQxOTU3fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="house keys" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9;" data-mce-src="https://images.unsplash.com/photo-1613553366367-ffa00d61d56d?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHw4fHxob3VzZSUyMGtleXN8ZW58MHx8fHwxNjk5NzQxOTU3fDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9;"></figure>

How much is a Down Payment on a House?

<p>An interest-only mortgage is a type of mortgage loan where the borrower is only required to pay the interest on the loan for a certain period of time, typically between five and ten years. During this time, the borrower does not have to make any principal payments, which means that the monthly payments are lower compared to a traditional mortgage.</p><p>At first glance, an interest-only mortgage may seem like an attractive option for those looking to lower their monthly payments. However, it's important to understand how this type of mortgage works and the potential risks involved.</p><h2>How does an interest-only mortgage work?</h2><p>With an interest-only mortgage, the borrower is only required to pay the interest on the loan for a set period, usually between five and ten years. After this initial period, the loan typically converts to a traditional mortgage, where the borrower is required to make both principal and interest payments.</p><p>During the interest-only period, the monthly payments are lower since they only cover the interest charges. This can be beneficial for borrowers who need some flexibility with their monthly budget or who anticipate an increase in their income in the future.</p><h2>Advantages of an interest-only mortgage</h2><h3>Lower monthly payments</h3><p>One of the main advantages of an interest-only mortgage is the lower monthly payments during the initial period. This can free up cash flow for other expenses or investments.</p><h3>Flexibility</h3><p>Interest-only mortgages provide borrowers with flexibility in their monthly budget. This can be particularly helpful for those who have irregular income or are expecting an increase in income in the near future.</p><h3>Locks in a Home&nbsp;</h3><p>As of the date of this post, interest rates are at a high not seen in over 20 years. Using an interest only loan will lock in the home you want today potentially saving you money as you lock in todays price on a home that could be much more expensive in a few years.&nbsp;</p><h3>Avoids Bidding Wars</h3><p>Once rates do begin to come down, a lot of buyers will be ready to buy. All of those that said they are waiting for rates to drop will be bidding on homes. That means a there's a good chance bidding wars will come back. You would already be in your home and you can still take advantage of lower rates by refinancing out of the interest-only mortgage into a lower interest fixed mortgage.&nbsp;</p><h2>Disadvantages of an interest-only mortgage</h2><h3>No equity build-up</h3><p>Since the borrower is only making interest payments during the initial period, there is no principal reduction. This means that the borrower is not building equity in their home until they start making principal payments.</p><h3>Higher long-term costs</h3><p>While the monthly payments may be lower during the interest-only period, the long-term costs of an interest-only mortgage can be higher compared to a traditional mortgage. This is because the borrower is not paying down the principal balance, which means they will end up paying more in interest over the life of the loan.</p><h2>Is an interest-only mortgage right for you?</h2><p>Deciding whether an interest-only mortgage is right for you depends on your individual financial situation and goals. If you are confident that you will be able to afford the higher monthly payments once the interest-only period ends and you understand the potential risks involved, it may be a suitable option.</p><p>However, it's important to carefully consider your long-term financial goals and consult with a mortgage professional before making a decision. They can help you evaluate your options and determine the best mortgage product for your needs.</p><p>Ultimately, an interest-only mortgage can be a useful tool for certain borrowers, but it's important to thoroughly understand how it works and the potential implications before committing to this type of loan.</p>

What is an Interest Only Mortgage?

Female hand with magnifier, calendar, money, calculator and percentage sign on color background. Mortgage concept

<h2>How to get the best deal on a house</h2><p>Are you considering purchasing a new home and you're concerned about the rates? If so, you might have come across the term "Buy now, Refi later." &nbsp;or the popular "Date the Rate". This strategy has gained popularity among homeowners and homebuyers, offering a flexible approach to financing. In this blog post, we will explore the concept of Buy now, Refi later and discuss its benefits and considerations.</p><h2>What is Buy now, Refi later?</h2><p>Buy now, Refi later is a financing strategy that allows homebuyers to secure a mortgage with a higher interest rate initially, with the intention of refinancing at a lower rate in the future. This approach can be beneficial for individuals who want to take advantage of the current real estate market or need to move quickly but plan to refinance once interest rates decrease.</p><h3>The Benefits</h3><p>There are several advantages to adopting the Buy now, Refi later strategy:</p><ul><li><strong>Avoid Multiple Offers:</strong> When the rates do begin to come down, it's expected to return to a competitive real estate market, buying now allows you to secure a property before it gets snapped up by other buyers.</li><li><strong>Gain Equity Now:</strong> Home equity is still on the rise. Buying now means you get todays prices. Waiting could mean paying a lot more for the same house. As equity rises, so will your personl wealth.</li></ul><ul><li><strong>Immediate Homeownership:</strong> By purchasing a home now, you can start enjoying the benefits of homeownership without waiting for the ideal interest rates.&nbsp;</li><li><strong>Flexibility:</strong> This approach provides flexibility in terms of timing. You can buy a home when it suits you best and refinance when the market conditions are more favorable.<br></li></ul><figure id="figure-rgb753nnxdlnf0g3sc"><img id="rgb753nnxdlnf0g3sc" src="https://images.unsplash.com/photo-1618068656845-fa244b9f8bd4?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxidXklMjBub3d8ZW58MHx8fHwxNjk2NjIxMTgzfDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" alt="buy now" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="Do it or wait?" data-positionx="null" data-positiony="null" data-mce-src="https://images.unsplash.com/photo-1618068656845-fa244b9f8bd4?crop=entropy&amp;cs=tinysrgb&amp;fit=max&amp;fm=jpg&amp;ixid=M3wyNjI5NjF8MHwxfHNlYXJjaHwxfHxidXklMjBub3d8ZW58MHx8fHwxNjk2NjIxMTgzfDA&amp;ixlib=rb-4.0.3&amp;q=80&amp;w=1080" data-mce-style="aspect-ratio: 16/9; object-position: center center;"><figcaption class="body-normal text-gray-500 mt-2">Do it or wait?</figcaption></figure><h3>Considerations</h3><p>While the Buy now, Refi later strategy offers advantages, it's important to consider the following aspects:</p><ul><li><strong>Refinancing Costs:</strong> Refinancing involves fees and closing costs, so you need to factor in these expenses when deciding whether this strategy is right for you.</li><li><strong>Market Volatility:</strong> Interest rates can fluctuate, and there's no guarantee that rates will decrease in the future. It's crucial to assess the market conditions and consult with a mortgage professional before proceeding.</li><li><strong>Qualification Criteria:</strong> Refinancing depends on your financial situation, credit score, and other factors. Ensure you meet the eligibility criteria for refinancing before relying on this strategy.</li><li><strong>What Will It Cost To Wait:</strong> While you're waiting you still need to live somewhere. Factor the cost of rent, the lost equity and price increases of the home you want &nbsp;vs. the additional loan costs and refinance costs.&nbsp;<br></li></ul><h2>How to Implement Buy now, Refi later?</h2><p>If you decide to pursue the Buy now, Refi later strategy, here are a few steps to follow:</p><ol><li><strong>Research and Consult:</strong> Research current interest rates and consult with a mortgage professional to understand the potential benefits and risks of this strategy.</li><li><strong>Secure Financing:</strong> Apply for a mortgage based on your current financial situation and the available interest rates.</li><li><strong>Monitor Interest Rates:</strong> Keep an eye on interest rate trends and market conditions to identify the right time to refinance.</li><li><strong>Refinance Process:</strong> When the time is right, work with a mortgage lender to initiate the refinancing process and secure a lower interest rate.</li></ol><figure id="figure-59i4s0zmuwlnf0g9zr"><img id="59i4s0zmuwlnf0g9zr" src="https://cdn.durable.co/shutterstock/9zWNprkF3z6geUmqd3ZMaRb4EdFlXhNpabTSc5kDqgNQvrXU2KCBGmfbnzkV71MT.jpeg" alt="buying at the right time for you" class="object-cover bg-gray-100 rounded-2xl md:rounded-3xl lg:rounded-4xl" style="aspect-ratio: 16/9; object-position: center center;" data-corners="default" data-aspect="16:9" data-caption="Look closely at the numbers for a home" data-positionx="null" data-positiony="null" data-mce-src="https://cdn.durable.co/shutterstock/9zWNprkF3z6geUmqd3ZMaRb4EdFlXhNpabTSc5kDqgNQvrXU2KCBGmfbnzkV71MT.jpeg" data-mce-style="aspect-ratio: 16/9; object-position: center center;"><figcaption class="body-normal text-gray-500 mt-2">Look closely at the numbers for a home</figcaption></figure><h2>Conclusion</h2><p>Buy now, Refi later is a financing strategy that offers flexibility and the opportunity to secure homeownership in a competitive market. However, it's essential to carefully assess the market conditions, refinancing costs, and your eligibility before implementing this strategy. Consult with mortgage professionals to determine if this approach aligns with your financial goals and circumstances. Remember, each individual's situation is unique, so it's crucial to make an informed decision based on your specific needs.</p>

Buy Now, Refi Later

<h3>What Experts Project for Home Prices Over the Next 5 Years</h3><p><br><img src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-What-Experts-Project-for-Home-Prices-Over-The-Next-5-Years.png" width="600" data-mce-src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-What-Experts-Project-for-Home-Prices-Over-The-Next-5-Years.png"><br><br></p><p>If you're planning to <a href="https://www.simplifyingthemarket.com/en/2023/09/07/get-ready-for-smaller-more-affordable-homes/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/09/07/get-ready-for-smaller-more-affordable-homes/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">buy a home</a>, one thing to consider is what experts project <a href="https://www.simplifyingthemarket.com/en/2023/08/11/home-prices-are-back-on-the-rise-infographic/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/08/11/home-prices-are-back-on-the-rise-infographic/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">home prices</a> will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than <a href="https://www.simplifyingthemarket.com/en/2023/09/05/expert-home-price-forecasts-revised-up-for-2023/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/09/05/expert-home-price-forecasts-revised-up-for-2023/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">expected</a> and are rising across the country. And data shows, experts forecast home prices will keep appreciating.</p><h4><strong>Experts Project Ongoing Appreciation</strong></h4><p><em>Pulsenomics</em>&nbsp;polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly&nbsp;<a href="https://pulsenomics.com/surveys/#home-price-expectations" target="_blank" rel="noopener noreferrer" data-mce-href="https://pulsenomics.com/surveys/#home-price-expectations"><em>Home Price Expectation Survey</em></a>&nbsp;(HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home prices will go up every year through 2027 (<em>see graph below</em>):<a href="https://www.simplifyingthemarket.com/en/content/images/20230911/20230912-Estimated-Home-Price-Performance.png?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/content/images/20230911/20230912-Estimated-Home-Price-Performance.png?a=508912-439a23e1ad0b26e14e9d26c25e07760f"><img src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-Estimated-Home-Price-Performance.png" data-mce-src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-Estimated-Home-Price-Performance.png"></a>If you’re someone who was worried home prices would fall because of stories you’ve read online, here's the big takeaway.<strong> Even though home prices vary by local market, experts project prices will continue to rise across the country for years to come. </strong>And these numbers indicate the return to more normal <a href="https://www.simplifyingthemarket.com/en/2023/07/25/dont-fall-for-the-next-shocking-headlines-about-home-prices/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/07/25/dont-fall-for-the-next-shocking-headlines-about-home-prices/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">home price appreciation</a>.</p><p>And while the projected increase in 2024 isn’t as large as 2023, it’s important to recognize <strong>home price appreciation is cumulative</strong>. In other words, if these experts are correct, after your home’s value rises by 3.32% this year, it’ll appreciate by another 2.17% next year. This is a good example of why owning a home is a choice that wins big over time.</p><h4><strong>What Does This Mean for You?</strong></h4><p>Once you buy a home, price appreciation raises your home’s value, and that grows your <a href="https://www.simplifyingthemarket.com/en/2023/09/01/homeowners-have-a-lot-of-equity-right-now-infographic/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/09/01/homeowners-have-a-lot-of-equity-right-now-infographic/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">household wealth</a>. To see how a typical home's value could change in the next few years using the expert projections from the HPES, check out the graph below:<a href="https://www.simplifyingthemarket.com/en/content/images/20230911/20230912-Potential-Growth-In-Household-Wealth.png?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/content/images/20230911/20230912-Potential-Growth-In-Household-Wealth.png?a=508912-439a23e1ad0b26e14e9d26c25e07760f"><img src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-Potential-Growth-In-Household-Wealth.png" data-mce-src="https://files.keepingcurrentmatters.com/content/images/20230911/20230912-Potential-Growth-In-Household-Wealth.png"></a>In this example, let’s say you bought a $400,000 home at the beginning of this year. If you factor in the forecast from the HPES, you could potentially accumulate more than $71,000 in household wealth over the next five years.</p><p>So, if you're thinking about whether buying a home is a good choice, remember how it can be a powerful way to grow your <a href="https://www.simplifyingthemarket.com/en/2023/08/15/equity-is-a-game-changer-for-homeowners-looking-to-sell/?a=508912-439a23e1ad0b26e14e9d26c25e07760f" target="_blank" rel="noopener noreferrer" data-mce-href="https://www.simplifyingthemarket.com/en/2023/08/15/equity-is-a-game-changer-for-homeowners-looking-to-sell/?a=508912-439a23e1ad0b26e14e9d26c25e07760f">wealth</a> in the long run.&nbsp;</p><h3>Bottom Line</h3><p>According to the experts, home prices are expected to grow over the next five years at a more normal pace. If you’re ready to become a homeowner, know that buying today can set you up for long-term success as home values (and your own net worth) grow. Let’s connect to start the homebuying process today.</p>

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