Renting vs. Buying: Why Real Estate is Your Best Bet

With all the headlines about home prices and mortgage rates, you may wonder if buying a home now is smart or if renting is better. Let's ease your mind by showing that investing in a home is still a powerful decision. 💡 According to Gallup, real estate has been the top long-term investment for 12 years straight! 🥇 It consistently outperforms gold, stocks, and bonds. Check out the graph below – it says it all! 📊 But why does real estate continue to shine as a top-notch investment? Even today, buying a home can be your golden ticket to building wealth over time. 🏠💰 Unlike other investments that feel like a rollercoaster with ups and downs, real estate follows a more predictable and positive pattern. 📈 History shows home values usually rise. While prices vary by market, your house is likely to appreciate over time, boosting your net worth. 💵 As Realtor.com explains: “Homeownership has long been tied to building wealth—and for good reason. Instead of throwing rent money out the window each month, owning a home allows you to build home equity. Over time, equity can turn your mortgage debt into a sizeable asset.” 🏡➡️💼 So, if you're on the fence about whether to rent or buy, remember real estate was consistently voted the best long-term investment for a reason. If you're ready and able, buying may be your best move. 👍 Bottom Line: When it comes to building wealth that stands the test of time, real estate is the name of the game. Connect with Krista Klause, your trusted realtor, today to start your journey toward homeownership! 🏠💪

Should You Buy a Home Now or Wait?

That's a big question on many minds today. While the right timing depends on your personal factors, here's something to consider: if you're able to buy at today's rates and prices, focusing on time in the market might be more beneficial than trying to time the market. The Downside of Trying to Time the Market ⌛ Trying to time the market isn’t a good strategy because things can change. For most of this year, projections have said mortgage rates will come down. While experts agree that's still ahead, shifts in market and economic factors have delayed it. As U.S. News says: “Those who put off buying a home during the past few years as they were holding out for lower mortgage rates have been left out of the market... mortgage rates have stayed higher for longer than previously expected, keeping monthly housing payments elevated. In other words, affordability didn’t improve for those who chose to wait.” This shows why timing the market may not pay off if you're ready and able to buy now. How Homeowners Benefit from Rising Home Prices 📈 Delaying your plans means missing out on the equity you'd gain if you purchased today. The Home Price Expectations Survey from Fannie Mae projects home prices will continue to rise through at least 2028. For example, buying a $400,000 home at the beginning of this year could lead to over $83,000 in household wealth over the next five years based on expert forecasts. This data highlights why time in the market really matters. The Advice You Need if You're Ready and Able to Buy Now 🏠 You might be focused on mortgage rates and how they impact your monthly payment, but don't forget to factor in home prices. Prices are expected to continue climbing, just at a more moderate pace. While this might not be fun now, once you own a home, that growth will be a huge perk. Rather than trying to time the market, it's better to have time in the market. As U.S. News Real Estate sums up: “There’s never a one-size-fits-all answer to whether now is the right time to buy a home... Perfectly timing the market shouldn’t be the goal. This decision should be determined by your personal needs, financial means and the time you have to find the right home.” Bottom Line 💡 If you're debating whether to buy now or wait, remember it's time in the market, not timing the market, that counts. Connect with Krista Klause, your trusted realtor, to set yourself up for those big equity gains. Let's make it happen! 🏡💼

Want Your House to Sell Fast? Here’s How Krista Klause Can Help!

If you’re eager to sell your house quickly, you might be wondering how long the process will take. Working with a local real estate agent like Krista Klause can give you the answers you need. 🕵️‍♀️ They’ll provide expert insights into how quickly homes are selling in your area and what factors impact the timeline for other sellers. This helps set realistic expectations and allows for a plan tailored to today’s market. 🗓️ The Growing Supply of Homes for Sale 📈 Recently, the number of homes for sale has increased. This is great news when you’re buying because it means more options. But, for sellers, it means buyers have more choices, so your house needs to stand out to sell quickly. 🏠 Inventory consists of new listings (homes just put up for sale) and active listings (homes already on the market but not sold yet). According to Realtor.com, a significant portion of the recent growth is from active listings that are lingering on the market. 📊 How It’s Impacting Listings Today 🏘️ Think of the homes on the market like loaves of bread in a bakery. Everyone wants the freshest loaf. But if a loaf sits too long, it gets stale, and fewer people want it. The same goes for homes. New listings are the freshest and most sought-after. But if a home isn’t priced right, doesn’t show well, or lacks an effective sales strategy, it can sit on the market and become less appealing over time. 🥖 An Agent Will Help Your House Stand Out and Sell Quickly 🌟 Timing is crucial. You want to sell fast, and a pro can make sure your listing stays fresh. According to the National Association of Realtors (NAR): “Home sellers without an agent are nearly twice as likely to say they didn’t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home.” Krista Klause will factor in recent inventory growth and create a customized selling strategy for your home. Supply varies by area, so Krista will share valuable insights about local trends, help price your home correctly, and craft a marketing plan that gets your home noticed. 📣 Don’t let your listing go stale—reach out to Krista Klause today to ensure your home appeals to buyers from the start. 🌟 Bottom Line If you want your house to sell fast, work with a pro. Connect with Krista Klause, your trusted local agent, to understand current market trends and build a strategy that sets your house up for a quick sale. 🏡🔑

2024 Real Estate Market Forecast: Insights from Krista Klause

As we move into the second half of 2024, here's what experts predict for home prices, mortgage rates, and home sales. 🌟 Home Prices Are Expected To Climb Moderately 📈 Home prices are forecasted to rise at a more normal pace. Despite increased inventory compared to the last few years, overall supply remains low. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says: "One thing that seems to be pretty solid is that home prices are going to continue to go up, and the reason is that we don’t have housing inventory." While you won't face the skyrocketing prices seen during the pandemic, prices will still climb, albeit more slowly. This means getting into the market sooner could save you money in the long run, and you can feel confident that your home will appreciate in value. 🏠 Mortgage Rates Are Forecast To Come Down Slightly 📉 Good news for buyers and sellers alike: mortgage rates are expected to dip slightly. According to Fannie Mae, the Mortgage Bankers Association (MBA), and NAR, even a small decrease in mortgage rates can significantly lower your monthly payments. For sellers, lower rates will attract more buyers, helping you sell faster and possibly at a higher price. It might also help you decide to sell if you've been hesitant due to current rates. 📊 Home Sales Are Projected To Hold Steady 🔄 In 2024, the number of home sales is expected to be about the same as last year, with a slight increase possible. The average forecast from Fannie Mae, MBA, and NAR predicts around 5 million sales in 2024, up from 4.8 million in 2023. Lawrence Yun, Chief Economist at NAR, explains: "Job gains, steady mortgage rates, and the release of inventory from pent-up home sellers will lead to more sales." With more inventory available and mortgage rates expected to decrease, we can anticipate a few more homes sold this year, allowing more people to move. Let’s work together to ensure you’re one of them. 🏘️ Bottom Line If you have any questions or need help navigating the market, reach out to a local real estate agent. For personalized advice and expert guidance, contact Krista Klause, your trusted realtor. 🌟